2016 Shareholder Update
August 10, 2016
As mycore shareholders, we wanted to give you an update on the state of the company and our goals for the near term. Over the past few quarters we’ve focused on moving the mycore technology from a 1.0 minimum viable product release to a 2.0 market-ready release with more robust features, scalable infrastructure and tighter cross-platform integration. Our team has done an amazing job of being highly efficient and productive while solving many complex problems. The culmination of this effort is the resulting mycore market launch scheduled for September 15th. We have a goal of 29,029 subscribers by December 15th. Please see the attached goal plan. We still have much to do and are working hard to make this a reality.
Last fall, we began to explore a partnership with a large medical company who wanted to use our software to help their clients become more productive and focused. These talks ranged from a partnership, to a sale of mycore, to a large investment in mycore by this company. In the end, they were unable to complete a deal due to market conditions affecting their company. They were, however, willing to invest in mycore using their company stock for mycore stock. As conditions continue to improve for them, we will continue to explore opportunities to work together.
In addition to our software endeavors, we’ve been able to successfully integrate Frameworks Solutions a strong design and custom training development company into mycore. This has given mycore the ability to provide a pathway to a corporate solution while delivering revenue to support company operations. This move also integrates strong graphic designers, instructional designers and video editors to the mycore team supporting the software design, marketing and expert program efforts within mycore.
We have assembled a strong sales and marketing team to support our corporate clients and our internet marketing efforts. Their efforts will also come into focus as we launch next month.
MyCore’s progress this year has been spectacular. This progress has required ongoing investment from those that feel strongly about the impact MyCore will have on the world. Those investments have been dilutive to existing shareholders but critical to the success of mycore. After a long wait and much sacrifice, we are finally on the verge of moving from great idea, to great product. We need an additional round of investment dollars to reach our launch date and allow for full revenue ramp time. To that end, we’ve submitted a capital call of $300,000 pro-rata to all investors. We have made the terms favorable. You will receive shares at $0.25 up to your capital call amount. Investment above your capital call amount will receive 2x times the number of shares for every dollar invested . A convertible note option is available for those investing $100,000 or more with full prioritized security backing of the note.
- Example: Investor 1 owns 1% of mycore’s outstanding units. Investor 1’s capital call is then $3,000. If he chooses to invest $5,000 he will receive the following shares:
- $3,000/ $0.25 = 12,000 shares
- $2,000/ $0.25 = 8,000 x 2 = 16,000 shares
- His total mycore share are 28,000 shares for his $5,000 investment.
Participation in this capital call needs to be completed in six weeks by September 21st, 2016. To answer any questions relating to this capital call will we be holding an investor call on August 18th at 6pm. The call in number is (605) 477 – 2100 access code 698434#.
Thanks for your support in this endeavor. We remain committed to seeing the vision of mycore through. As always feel free to call with any direct questions.