We The People & ConFlow Power To Build First Self-Charging Power Bank
Funded Global opens its Initial License offering on ILOCX
LONDON, Oct. 23, 2019 /PRNewswire/ -- We The People (WTP) a trading name of Funded Global Pte Ltd is a Product Launch Accelerator that owns a successful chain of retail stores across multiple countries which focus on the sale of crowdfunded products.
Funded Global has officially launched an ILO offering on the ILO Exchange. This strategic fundraise comes after today's announcement that it is partnering with ConFlow Power, to develop power banks for use with phones, tablets, and laptops that will recharge itself utilizing electrons present in the atmosphere, potentially bringing limitless power to mobile devices.
The power bank market is predicted to be $27.75 billion by 2025 with a CAGR at 18.4% per annum on a recent report by Bloomberg.
WTP intends to raise 3 Million dollars through the sale of license units which, in turn, entitles license holders to annual royalties. Licenses are capped at 100,000 units, currently valued at $30 each and available on the ILOCX and partner exchanges.
License holders buy in for 3 years at which point the company elects to buy the ILO back at its future trading price, convert the licenses into shares, should the company elect to take it to a stock market listing or elect to roll the license again based on a further 3-year term at an applicable royalty rate, this will be dependent upon the activity undertaken by the license holders combined with the company's continued success.
WTP has entered into collaboration with ConFlow Power to launch its first product utilizing this ground-breaking technology that draws power from the atmosphere. The license is contingent upon ConFlow Power completing the safety testing with laboratories in the UK and USA, and delivering a safety certified device in an appropriate format for insertion in a Power Bank.
This comes shortly after PM Group, a top tier conglomerate from Thailand, recently acquiring a strategic licensing deal for the ConFlow Power technology after much due diligence and testing. Observers report irrespective of how many times the device was discharged, it never failed to recharge itself.
"We're excited to work with Funded Global and their key brand We The People, a leader in selling crowdfunded products. It is a great compliment to the ILO Exchange and our belief that Collaborative Capital is the future of finance. In addition, we are excited to partner with them on their new product line which will introduce ConFlow Power technology to a retail market," said Edward Fitzpatrick, CEO ILOCX.
WTP plans to launch the power bank product, co-branded with ConFlow Power through crowdfunding platforms as they have built relationships with crowdfunding groups and major players around the world. This will assist in raising capital for products through partners in the USA, Singapore, Japan, and South Korea. Sample units will of course be available at all WTP Stores.
"We're all about saving the environment here, and with this partnership, we know we can drive a great positive change for the world. The funds we raise will be deployed to support WTP's distribution channels to get these power banks widely available. " - Jay Kang, CEO of We The People
About We The People
Established in 2016, We The People (WTP) is the world's only multichannel crowdfunding retail chain and product launch accelerator. Founded for creators by creators, Ryan Sim, Joel Liew, Nison Chan, and CEO Jay Kang, WTP has gone from 14 brands to more than 200 brands with multiple product lines, and stores in Singapore, South Korea, Malaysia and St. Louis, MO.
Providing education, e-commerce, and brick-and-mortar retail space for crowdfunded entrepreneurs, WTP is quickly becoming the hub of innovation in Asia and around the world. Its goal is to bring together the global creator community, WTP is expanding internationally to the United States, Australia, Spain, India, Malaysia, and Indonesia. It has recently confirmed a retail space in Silicon Valley, which will be open in March 2020.
About ILOCX
ILOCX is the Initial License Offering Contract Exchange, a platform where innovative companies can list License Offerings. Buyers of these licenses agree to participate in the company's growth by promoting them on social media all the way to becoming an affiliate. ILOs are a truly Collaborative Capital partnership blending a Collaborative Marketing concept that reaches more people than is possible under any other method. Unique marketing campaigns are generated by 1000s of ILOers that by nature must reach more niche groups, as they themselves are niche. The ILO structure, created by ILOCX, completely bridges the gap between Capital and Company. There is no one else involved. ILOs are licensing contracts that permit the ILOer to promote the company's approved information to a wide audience for the purpose of perpetuating sales. This system drives sales revenue and then rewards it on both sides. ILOers get a percentage of the company's gross revenue, similar to a commission, for their promoting activity. This lasts for a 3-year term, after which the company elects to either roll the license again, buy it back, or convert it to equity in the case of a stock market listing.
Contacts
- Ryan Sim, Managing Director, Marketing & Business Development, We The People, ryan@wtpstore.co
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