I was introduced to Tom Prendergast and his fledgling internet social media development while it was still under the name Shell Holdings in Wyoming. His idea for a new social media platform intrigued me since it was a “facebook” type of free page but was geared to offer “boomer entrepreneurs” the tools to grow and run their business. This was a great idea because so many retired individuals find themselves needing to go back to work after retirement.
I have been trying to understand the actual vision of this development for at least 6 years and maybe more than that. I don’t have the date I first began to exchange ideas with Tom Prendergast, etc. However, somewhere along the timeline I invested $10,000 for [what Tom called] BoD positions in the development and jumped right in to try to help. At that time, I was in long conversations with Tom where he would bounce ideas off of me, etc.
The following is a sketchy timeline which hits only a few highlights of the past 5+ years but will give an idea of how things have gone with MarketHive and the people who saw potential and came forward to help its development. The instances that come to mind that I have not mentioned in this article are varied and many – but all are documented in one way or another.
2/4/15 Preparing to launch MH:
It was announced that the business now named MarketHive was ready to launch [I have the announcement doc]. Somewhere between when I began working with Tom and the company the name for the actual social media platform was chosen [MarketHive]. I was amenable to that; the umbrella company being Shell Holdings and the name of the development being MarketHive.
10/14/15 Receive leads from the MarketHive rotator system with AF pages:
As things developed, a rotator was planned so that persons who owned certain pages were offered the option to take enquirers into MH under their wing as “connections” whereby they might build an audience for their own business offers (this was a platform for business entrepreneurs). This seemed like a great idea also. A page that was on the rotator cost $1,200 [one time] and I took out 6 pages for that purpose.
However, as we tried to wrestle with our pages, links, connections, friends, rotator feeds, etc. Tom began to hold back rotator options for those only who were doing certain things to further the company – things that he chose to be done. Otherwise, you wouldn’t get your turn in the rotator. This obviously didn’t set very well, but, and the rotator idea faded into the distance.
1/20/15 Customer Service, training manual, etc. ideas from me:
2/10/15 Working with Diana on training manual/digital book:
All during this time I was working with two other persons to develop some training materials for those “boomer” persons who would want to understand what their free pages offered them – things such as blogging capabilities, web seminar room access, outreach and so forth. We also fielded customer service enquiries for the company at that time. (All gratis work.)
12/9/15 BOD agreement for $5000:
I was aware that I hadn’t received any documentation, contract or other paperwork that stated my position [investor] in the company and began to push forward with Tom to get that done ASAP. I finally wrote the document myself and, although he talked a good talk, he never signed one contract and sent it back to the investor although several downloaded the copy I provided them, signed, and sent it in for him to verify and sign. To this day no one has any proof of what they were promised for their money.
12/21/15 ALF Revenue sharing agreement with MH:
Tom began to offer other “positions” in the company such as Alpha Founders, Alpha Legacy Founders, and the list goes on and on. Each of these position as a verbal agreement for some sort of revenue sharing when a profit was made by MarketHive. I developed the same sort of contract for some of these positions [my 6 rotator pages were being called Alpha Founder by this time]. I had the same success getting Tom to make legal by documentation his promises as I did with the BoD documents.
To shorten this scenario suffice it to say there were a myriad of other plans and schemes in the next couple of years where Tom would use his special brand of guilt and intimidation on his little band to get them to invest or do internet work of some kind, declaring that launch or success or riches was just around the corner. I wasn’t a party to most of these things, but saw my friends in MH spending their money on these promises as the years went by.
Coffee MLM where everyone drives Tom to the top and somehow he would get in some position to share the wealth
Fb groups collection so that each would have thousands of captive market to drive MH to the top by posting the wonders of the system.
New URLs to blog from for other purposes to drive MH to the top.
GoFundMe flop (don’t know where this was going to tell the truth).
Twitter group twitter (retweet) only what Tom had posted
4/7/17 Welcome to Markethive:
At this point, the “new” MH was ready to commence to begin to develop to be ready to…. Gone were the old pages, the old titles, the old semantics, names, niches, etc. By this time most of the original crowd that stepped in to support and build the original concept had left and Tom had worked his way through at least one more batch of faithfuls. And, by this time I was simply monitoring what was going on and the tactics Tom used to manipulate these people.
10/6/17 Money use and loss statement [This is the kill shot]:
Out of frustration with the insistence of one of the original founders and investors to be told what our investment was used for and where it was, Tom blurted out in a Telegram text:
“On Sunday I hold a meeting about what is going on with Markethive. You all realize that the original agreements for the BODs was with Shell Holdings [my note: meaning an attempt to shut out all who invested initially after the name of the development was chosen].
“When MD [my note: his first technician] delivered crap for code and high tailed it out of here, Shell Holdings was official out of business dead
“MD received almost all the development money. What he did not receive went into running Veretekk.” [my note: This proves that he took money that was invested into one company and used it in another company.]
BTW: Tom has a habit of blaming the current technician, and then firing them [or quit paying them until the have to quit – used as scapegoats.]
July and August 2018 Bundling Fiasco:
The natives were starting to get restless about July to August 2018 with all the shenanigans that they had endured over the years — even the batch that came in after the originals were getting tired of the runaround. When Tom began talking about new investors, selling the company, having partners come in, and that the company would have “shares”, etc., the natives got really restless!
When he began demanding that we all have wallets on our pages where we could receive Markethive coins in payment for whatever, the **** hit the fan. He finally agreed that the new shares would be worth at this point $10,000, so each of our BoD investments equaled ½ share, but wouldn’t be worth anything until we bundled with others and formed little companies that made a complete share or shares [no portions].
It appears that he didn’t think we could do the math, but a friend of mine in the UK, who had worked with me on the customer service project jumped in with me and we began contacting people and bundling their portions to whole shares. At that point Tom announced the deadline was in the next day or two, and when we said we were ready, he declared that bundling was not valid anymore, that he knows what we invested [it is supposed to be in another computer or something] and we would be “taken care of” – and some people believed him!
I’ve been mulling over what to do about this. I am still connected with MH through Telegram group and see daily sometimes 100 or more people texting “I can’t get on my page, MH is down, my wallet isn’t working, where have my blogs gone, someone is trying to get in under me but can’t”. After over 6 years, and we have the same ole same ole.
It is my opinion that this is all a game with Tom Prendergast, that he is using the money he gets to live on and is just messing around and getting these well-meaning people to do his bidding.
I received a spam email from MH telling me I could have a share of this great company for only $1,000. When I read that, I said, “This has to be stopped!”
I have years of email, Skype text, Telegram text, and correspondence in my computer as well as documents and screen shots to verify what I have just reported. And I couldn’t bore you with the other goofy things he has people do: Everyone get an Avatar, have prayer circles [yeah, somewhere along here he found religion], get a Zoom Room, learn to use Telegram instead of Skype, etc. etc.
Although I have paid well over $15,000 to MH for investment, if I were asked, I would have to say that I don’t feel Tom Prendergast has gotten rich off of our investments, but I do have to say that he is either unsuited for what he is attempting, or he is playing a game with other people’s time and resources. He should be called to account for this.
Thank you for listening.