Businessforhome.org has been reporting on the potential collapse of WakeUpNow and according to a letter from CEO Phil Polich on the Wake Up Now Facebook page, the company has shut down network marketing operations in the USA.
For the past 4 years WakeUpNow has been an integral part of my life. The IBO’s and corporate staff have become like family to me and my family. As a collective team we have left a footprint in the network marketing industry that nobody could have ever expected. Led by President Jason Elrod’s leadership and vision, we became known as the company that put the distributors first, and allowed more people to “win” than ever before.
As the top investor in the company I cheered the success, provided oversight as a board member, and trusted in the management team that we had assembled. Most of that trust was well placed, as was evidenced by the industry-changing momentum that we produced. Some of it, unfortunately, was severely misplaced.
By taking advantage of the office of Chief Executive Officer, Kirby Cochran had made decisions that put the company on an irreparable negative trajectory; and sadly, he went to great lengths to keep many of these decisions secret from the rest of the management team and board of directors.
When I stepped in as CEO in September I did so with an additional personal investment, and every intention of righting the ship. As I worked with a group of outside financial analysts it became clear that the issues ran deeper than originally expected.
Together with Jason, we worked diligently for the last 120 days doing everything we possibly could to turn it around. We explored every option, turned over every rock, and connected with every contact we had. Not enough can be said about Jason and his care for the distributors and his monumental effort to preserve the company for the thousands of people who he had come in contact with during his tenure. It’s not an exaggeration to call him the most distributor friendly president in the history of networking marketing.
As we made progress, we continued to discover that Kirby Cochran’s deceptive actions had put the company in a position from which it could not recover. In the end, his decisions for a privileged few outweighed the incredible heart and dedication of the many.
With that said, effective immediately, WakeUpNow will cease all network marketing operations in the United States. We will continue to sell our products, including Awaken Thunder and the WUN Fit line of products. We will diligently work to fulfill all financial obligations of the company. I will continue to work with the creditors and vendors in anticipation of getting all obligations resolved.
It goes without saying that our hearts are heavy over this decision. It wasn’t taken lightly, and it wasn’t done without understanding the impact on the lives of so many people that worked with us.
Our hope is that your life is better for having been a part of the ?#WUNLife?. We hope you move on to what is next and be better because of the experiences you have had with WakeUpNow. We hope you will remember the company for the way we changed the entire network marketing industry".
Philip J. Polich