These are challenging times. While iConsumer doesn’t have the ability to help in our communities by donating money, we do have a wealth of technical resources we’d be happy to share.
As we thought about that, we realized that maybe our shareholders had some ideas that we should consider. We’d love to hear what those may be.
For instance, we use GotoMeeting and GoToWebinar, so we have a license we can share with charities and causes that might not be so fortunate.
Leave your ideas in the comments to this post. Thanks!
6 Comments
Chuckles, March 19, 2020 at 5:29 pm
Pretty sure sharing a license would be against the user agreement and amount to piracy…
What does the SEC say about calling your company at 50% above it’s trading price (paying out at a valuation of $.18/share when you haven’t traded at above $.12/share in months? Seems like every transaction should be receiving about 50% more shares than they actually do…
What is your strategy for aggressively growing your user base? You grow by gaining market share, not by getting existing users to spend more. In the 12 months that I’ve been a shareholder, you have added VERY few new users.
Robert Grosshandler, March 19, 2020 at 8:09 pm
Great point about the user agreement. We’d need to make sure we didn’t run afoul of that.
We actually are adhering to the SEC rules about NOT selling at market price. We wanted to, they said we couldn’t. We are forced, under the Regulation A+ rules, to sell at the price outlined in the offering circular (currently $.18). If we file paperwork with the SEC, we can vary from the original price up or down by 20%. But we can’t do that frequently (they’d be very unhappy with us). We have other mechanisms to adjust the number of shares you earn to reflect the market price.
We have at least two ways to grow. First is by getting members to use us more (and that justifies spending more on member acquisition), and the second is to spend more on user acquisition. Which requires cash. Which comes from users spending more. When it works, it’s a virtuous cycle.
Howard, March 19, 2020 at 6:15 pm
Can you leverage your computing resources to help COVID-19 researchers? Folding @ Home is a project from Stanford that uses your excess computing power to support research.
Robert Grosshandler, March 19, 2020 at 8:03 pm
Interesting. While we have excess computer capacity (but not much), perhaps there’s a way to get our members’ excess capacity engaged.
Hung tran, March 19, 2020 at 8:03 pm
I want to send you stock to donate to charity during the covic-19 pandemic. I have 9100 shares. I just want to get 50% of that. The rest I want to donate to charity to join hands to support covic-19. can you help me ?
Robert Grosshandler, March 19, 2020 at 8:23 pm
What we can do is point you to the Facebook Group. People have had conversations there about selling stock between members. We cannot facilitate any transaction (that would make us a broker, and that would get us in big trouble). There is more in the Facebook Group (and on our Support portal) about how to navigate the rules about transferring stock privately.