ProductShare Newsletter #3
Namaste Our Dear Friends and Colleagues 🎅🏼 🥳 🎄
We want to start by wishing you all a belated Merry Xmas, a happy & harmonious holiday season and a prosperous & productive New Year ahead. We love you guys and your continued support was the light of encouragement that kept us going even in dark times of despair and uncertainty. So Thank You all for being a part of this great project.
In many regards, 2022 was a year for the history books. It was a year equally full of excitement as it was full of disappointment. Most of you will agree that this was a difficult year not just for our community, but for the entire world. But even despite the myriad of setbacks, we are stepping into the New Year on solid footing standing on the shoulders of lessons learned from all sorts of challenges that we had to rise above. We have no regrets or apologies, the Universe unfolds exactly as it is supposed to. Perfect in every way. Our job is to listen for the guidance and simply do our best.
And from some of your view points our best wasn’t quite enough. We know that several stakeholders have voiced their concerns regarding the recent breakdown in communications from our team and they have a point and we take their feedback very seriously. We sincerely hope that today’s update will clear the air, address your concerns and maybe even buy us some good will 🤞🏼
So here is where we are at:
Once it was clear that we would not be able to fully execute our pre-sale (see StakeShare IDO Schedule results page) in Q4, we reluctantly had to let go of several members of our marketing team simply on account of not being able to provide them with the level of compensation they deserved. Although at first the situation seemed relatively manageable, with the rest of us picking up the slack where we could. However, over the last two weeks, the backlog simply spun out of control and the continuously increasing number of urgent prerequisites kept holding us back from making an official statement until today. But rest assured, we are finishing this year on a highly positive and exciting note which should give us at least some redemption in the eyes of everyone, especially those of you who shared disappointment in the feedback posted last week in the Telegram group.
Our response to those messages will be short and to the point: We have heard you loud and clear. Albeit unintentionally, we have indeed come short of our Values and intention to provide an adequate level of transparency in the last two months. So to address this issue, today are making the first step towards implementing complete transparency in the operations of ProductShare. We aim for this update to set the bar for the quality of materials and level of detail that will be available to all PS stakeholders from this day forth.
We have divided this update into the following 3 sections:
- Updated token sale schedule and Q1 Operational Strategy (Coming January 11 2023)
Recap summary of Q4 2022
Private Sale Results
Q4 saw the crypto market evaporate more than 50% of its value along with our hopes to execute a private sale and a public presale of the Stakeshare token. Some of the messages we received in Telegram seem to indicate that some stakeholders are under the impression that we raised a significant amount of capital in our private sale and then disappeared after spending all the funds. This is not accurate so we respectfully ask to limit the FUD to the actual facts. We collected a total of $26K USD in the partially filled private sale that we held on productstake.com as per the following table:
StakeShare Token Sale
Token Price (USD)
Total Allocation (PSS)
Tokens Sold (PSS)
Actual Proceeds (USD)
Unsold Tokens (PSS)
Early Bird Private Sale - Round 1
Sep 12, 2022 → Sep 26, 2022
We used the funds for operational expenses. Please note that our monthly burn rate in 2022 has ranged between $20K-$30K, so the private sale proceeds has not made significant impact and certainly did not provide the capital we needed to reach our milestones. Our founding team, family and friends have so far invested almost $1m USD into ProductShare over the last three years and our vested interest compared to the $26k we raised publicly should be an indicator of how committed we are. There is absolutely no chance this project will be abandoned or go bankrupt like many others in the crypto industry. We are very grateful to those who backed us in our Private Sale and since the goal post for the pre-sale has moved once again, we have decided to provide the following option to qualifying participants.
Conversion Offer to Private Sale Participants
Over the last two months we have had the pleasure to get to know several of the participants in the privates (big shout out to the Aussie crew 🇦🇺!) and to make up the the continued rescheduling of the DEX listing we will allow those of you with greater that $500 USD invested to convert to equity in our Delaware C-Corp iPRODUCTSHARE Inc. at $0.28 per share. Here is the Stakeholders which determines the number of PSS tokens issued to the Co-Creators collective upon the TGE:
iPRODUCTSHARE Inc. Shareholders
StakeShare Tokens (PSS)
TEAM AND ADVISORS
Common Class A
Preferred Class A
Common Class B
For those of you not familiar with capitalization tables and equity calculations, here is an example of how $500 private sale investment would covert to equity and subsequently would result in a significantly more favourable token price of $0.03 USD. Please substitute your investment total using the formulas provided in second row.
Preferred Class A
On some devices this table does not render properly you can see the source table here.
You can read more here CO-Creators Collective Tokens Distribution.
To start the conversion process please fill out this form:
Once the form below is filled out you can schedule a zoom call with us to do a short interview and complete any outstanding KYC matters. You can schedule this call by clicking this link:
30 Minute Meeting - Anton Polski
Fundraising Strategy Change
After having securing a strategic partnership with Unicrypt, we understood that in order to execute a successful presale in the current market we would require an additional $100K USD for marketing expenses in order to fill the full allocation of <S 4,666,666 PSS
Due to the quickly deteriorating conditions in the crypto market in October and November, we have decided to raise and equity round of $350K at $0.28 per share for a total of 1,250,000 Shares/ 11,111,111 PSS as per table above. So far we have about $175KUSD committed to this round and we expect it to close in the last week of January 2023. In order to position ourselves for a successful capital raise we spent most of November and December working our our positioning documents and investor materials, which logically bring us to our next update item.
Announcing the launch of the PS Stakeholder Portal
We have worked really hard to crystallize the value proposition of ProductShare and to consolidate all of the business objects and documents that are fundamental to our business. It is with great pride and excitement that we announce the launch of our Stakeholder portal on https://docs.productshare.co where you can find everything there is to know ProductShare.co
ProductShare is a huge idea and our previously published materials have scarcely scratched the surface of why we do what we do, how we do it and what is it that our business actually does. It took us 2 months to correctly answer these questions and we invite everyone to read the following pages:
Why?, How?, What?
Another equally critical exercise that we went to is our business positioning that defines our Mission, Vision and Values. We have gone through a lengthy process of creating a Values map that will guide us and our culture for many years to come.
We have also defined in a great amount of detail the Problems We Solve and Our Creative Solutions to these problems.
We have also created a live docs portal where you can find 2 of our Key Documents: Whitepaper and the StakeShare IDO Prospectus. Most of the dates and table data has been updated and will be synchronized live with our source of truth databases on chain and airtable.
We have also created an updated PS Newsfeed that contains the update that you are currently reading and where we plan to publish updates regularly in 2023. We also plan on scheduling a monthly AMA over Telegram so our community can get to ask us questions and contribute to runway level decisions. Finally we created a publicly facing Design System for all of our PS DATABASES so you can now use the latest logo marks that are hosted on a CDN for easy copy and paste. Please let us your feedback by either commenting on Telegram or by using the smiley controls at the bottom of every page.
Introducing our new marketing partners
It is with great honor and enthusiasm we announce a new addition to our Partners team:
Introducing Sync Ventures !
We welcome Bill Nolan and Theresa Taljaard as executive consultants to our team. They bring a wealth of both retail and crypto experience and will be playing a big part in executing our fundraising strategy and marketing workflows. They have a number of staff on their team to help us execute some of the more hands on channel management like Telegram for example. We have added both of them to our Telegram group so please feel free to say hello to them.
Bill N - Founder SYNC Ventures
Founder/ Director, contact us at email@example.com Turning digital dreams into reality.
Theresa | Founder SYNC Ventures
Theresa | Founder SYNC Ventures SYNC Ventures Blockchain specialists,let us help you launch projects Connect@sync.ventures If you have Telegram, you can contact Theresa | Founder SYNC Ventures right away.
We have partnered with Sync on a number of projects that will generate sales revenue through product sales in the PS Marketplace. Together with Sync we have secured exclusive sales rights to a number of health and wellness products that we will be announcing very soon as part of the Sync Life initiative. One product that we are able share with you already is Herbon ( we are doing about $1K in weekly sales already).
Please join us in welcoming the Sync team to the PS family and let have a kick as 2023!
❤️ Team ProductShare