Lokal.Plate Corporation is not authorized to solicit investments from the public, the Securities and Exchange Commission (SEC) said.
The SEC’s Enforcement and Investor Protection Division said that while Lokal.Plate is a registered company with the agency, the firm does not have the license to solicit investments from the public as required by Sections 8 and 28 of the Securities Regulation Code (SRC).
“As posted online, Lokal.Plate offered investments to the public under the guise of franchising where a ‘franchisee’ invests P12,888 to earn P40,000 to P80, 000 per month. Further, a franchisee only needs to share a link, which, when clicked by anyone who wants to order from the affiliated food service provider of Lokal.Plate, the franchisee earns 15 percent to 20 percent of the purchase price of the ordered food,” the SEC said in an advisory issued last November 24.Lokal.Plate, however, looks like a legitimate business, as it continues to forge partnerships with local restaurants in the National Capital Region (NCR) and select places in Region 3. It also plans future expansions in Bataan, Baguio, Pangasinan, Bulacan, Cavite, Laguna, Quezon province, Subic, Batangas and Nueva Ecija. SOVEREIGNPH