Copy of a post I just made on iHub responding to a
Post# of 6908
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They don't need brick and mortar stores. Thanks to the money bought in from the Public Offering, they have already expanded the Jewelry business 35% in 2021 and a further 40% > 65% so far in 2022.
It is now a $14.6M business in 2022 (if current sales rate maintained - likely to go up) compared to $7M in 2020 - with a lot more to come from the Metaverse Division and NFT Division.
Brick and mortar stores have huge overheads.
Their "bidding wars" strategy - by having auctions end the same time every week - has been a huge success.
In addition, the CEO's belief that revenue is only limited by the number of items that can be bought each week has been proven throughout 2021 and even more so over the past 7 weeks when sales have been up $100K per week as Public Offering income enabled 30% > 40% more inventory items to be bought each week.
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