Specifics of the DiMO Marketplace
On January 29, 2018, we entered into a Token Development Agreement (the “TDA”) with Upgrade Digital, Inc., d/b/a BlockchainDriven (“BlockchainDriven”). BlockchainDriven, under the TDA, agreed to serve as a contractor for hire of the Company to design, develop, and implement the DiMO token for the Company according to the functional specifications and related information provided by the Company. Under the TDA, the Company will own the DiMO token and all related intellectual property.
Currency on the DiMO marketplace
It is expected that the DiMO marketplace will exclusively use the Company’s own internally developed cryptocurrency, called “DiMO”. We intend to initially distribute this currency via a cryptodividend to our stockholders.
In order to maximize stockholder value and recoup the investment made to build out the marketplace, the Company also intends to collect a fee of 90 basis points for every transaction on the DiMO marketplace. This fee is planned to be clearly disclosed to all users of the DiMO marketplace and also planned to be collected in the DiMO currency itself.
Creating the DiMO marketplace
We believe that establishing participation in the DiMO marketplace will take a concerted grassroots effort to get a significant enough number of participants on DiMO to make it an effective marketplace. We intend to use multimedia, public relations, group events and one-on-one enlightenment discussions with key members of the o-ring community in order to establish sustained participation in the DiMO marketplace. There can be no assurance that the Company will be able to develop the DiMO marketplace as planned, or at all.
CONTINUATION OF ROLL-UP ACQUISITION STRATEGY
In addition to the roll-out of the DiMO marketplace, the Company plans to continue to seek strategic acquisitions. Since the Company first went public in 2013, we have successfully executed two strategic acquisitions, one in North Carolina and the other in Pennsylvania. Based on the highly fragmented distribution market in the United States, we believe that the market lends itself to such strategic acquisitions. We believe that the roll-up strategy will strengthen the DiMO marketplace effort by making us a larger and more influential member of the o-ring distribution community. Much of our business plan relies on our ability to obtain market acceptance of our products from our colleagues in the industry, as well as our suppliers to become part of the DiMO marketplace and there can be no assurance of this.
https://backend.otcmarkets.com/otcapi/company...ntent/html
On January 29, 2018, we entered into a Token Development Agreement (the “TDA”) with Upgrade Digital, Inc., d/b/a BlockchainDriven (“BlockchainDriven”). BlockchainDriven, under the TDA, agreed to serve as a contractor for hire of the Company to design, develop, and implement the DiMO token for the Company according to the functional specifications and related information provided by the Company. Under the TDA, the Company will own the DiMO token and all related intellectual property.
Currency on the DiMO marketplace
It is expected that the DiMO marketplace will exclusively use the Company’s own internally developed cryptocurrency, called “DiMO”. We intend to initially distribute this currency via a cryptodividend to our stockholders.
In order to maximize stockholder value and recoup the investment made to build out the marketplace, the Company also intends to collect a fee of 90 basis points for every transaction on the DiMO marketplace. This fee is planned to be clearly disclosed to all users of the DiMO marketplace and also planned to be collected in the DiMO currency itself.
Creating the DiMO marketplace
We believe that establishing participation in the DiMO marketplace will take a concerted grassroots effort to get a significant enough number of participants on DiMO to make it an effective marketplace. We intend to use multimedia, public relations, group events and one-on-one enlightenment discussions with key members of the o-ring community in order to establish sustained participation in the DiMO marketplace. There can be no assurance that the Company will be able to develop the DiMO marketplace as planned, or at all.
CONTINUATION OF ROLL-UP ACQUISITION STRATEGY
In addition to the roll-out of the DiMO marketplace, the Company plans to continue to seek strategic acquisitions. Since the Company first went public in 2013, we have successfully executed two strategic acquisitions, one in North Carolina and the other in Pennsylvania. Based on the highly fragmented distribution market in the United States, we believe that the market lends itself to such strategic acquisitions. We believe that the roll-up strategy will strengthen the DiMO marketplace effort by making us a larger and more influential member of the o-ring distribution community. Much of our business plan relies on our ability to obtain market acceptance of our products from our colleagues in the industry, as well as our suppliers to become part of the DiMO marketplace and there can be no assurance of this.
https://backend.otcmarkets.com/otcapi/company...ntent/html
