Subject: ProductShare Newsletter #5 - An Important Update
Dear Friends, Colleagues, and Esteemed Stakeholders,
We are excited to provide you with this latest update, and we appreciate your continued support, patience, and understanding during these challenging times. It is indeed a period of considerable transformation and growth for ProductShare, and we are grateful to have each one of you as part of this journey.
The past few months have been a time of significant introspection for our team. Amid the backdrop of persistent market challenges, we have had to make difficult decisions and adapt our strategies to ensure the survival and future prosperity of ProductShare. We want to assure you that we are fully committed to fulfilling our vision and bringing the governance token to life. The question isn't if, but when.
As you may recall from our previous communications, we have around $1.5M in Herbon inventory earmarked for sale in Q2/Q3. The goal is to generate enough revenue from these sales to fund our token sale in Q4. We are thrilled to also announce our recent vendor partnership with NassValleyGateway.com. This collaboration will enable us to broaden our product offerings and enhance our marketplace's appeal through the inclusion of quality CBD products manufactured by NassValleyGateway.com.
As a company, we deeply regret the recent communication breakdown with our valued stakeholders. We acknowledge your concerns about the funds collected during the private sale. We assure you that these proceeds have been accounted for responsibly and are reflected in our revenue. The offer to convert these funds into equity still stands, and we invite any interested parties to reach out to us at admin@productshare.co. For a comprehensive view of how these funds were used, please refer to our 2022 financial statement at https://docs.productshare.co/company-info/financials.
With our team's size currently reduced, we are focusing primarily on generating revenue through product sales in the ProductShare marketplace. Our decision to postpone the token sale was not made lightly. However, we believe it is the most prudent course of action until we can either raise a small equity round of funding or generate sufficient revenue through product sales to afford a larger team and marketing budget for the token presale.
We remain steadfastly committed to our vision and are working tirelessly to make it a reality. This journey may be challenging, but we are confident that with your support, we can surmount any obstacles and build a strong future for ProductShare.
As we move forward, we will strive to improve our communication and ensure that you, our stakeholders, are kept informed and engaged. We value your input and invite you to share your thoughts and questions with us.
Thank you again for your patience, understanding, and unwavering support. Together, we will overcome these challenges and create a stronger, more resilient ProductShare.
With sincere gratitude,
The ProductShare Team