According to HypeBot, BurnLounge continues their downward spiral into historical irrelevance by eliminating their MLM “cash cow” — the Mogul program. The Mogul package cost upwards of $500 when you bought into that program through your retailer; the bad news is that since they’re abandoning the model, they will not be refunding anyone who purchased that package and have no plans to continue supporting it. So much for getting what you pay for, hm?

“All retailers who purchased the Exclusive or VIP product packages retain all of the products and services they received, but the Mogul program and Mogul Team Bonuses have been discontinued.

“All existing paid members in BurnLounge become BurnLounge Basic retailers and receive a subscription to our Business Management Software (BMS). In addition, during this transitionBurnlounge we are waiving all renewal and monthly fees for existing retailers until December 31, 2007.”

“Currently, our terms and conditions state that complete refunds are not available after 3 days from the purchase date. In light of this transition, we are reviewing our refund policies but we have not made any changes at this time.”