Cryptostocks
CryptostocksCompany Information Nitelife Passport develops software for the nightlife industry, specific to concerts and nightclubs. Its core product, Party Til’ The AM, is a SaaS platform for nightlife venues and event promoters to manage their staff, clients, ticket sales, and VIP experiences. Our company was founded in 2012 in Toronto, Canada, when co-founder Trung Pham had a terrible experiencing attempting to make a reservation a nightclub; he called and emailed several venues on multiple occasions and received no reply. After discussions with many nightclubs and event promoters on their operations, Nitelife Passport was founded to provide consumers a seamless process in making reservations and purchasing VIP experiences, while providing a CRM and event management platform for venues and promoters to capture traffic, track staff promotional efforts, and generate more revenue per customer. Venue & Event Promoter Challenges Event promoters face challenges with financing their events and generating more traffic. In the nightclub space, promoters have introduced a luxury product known as “Bottle Service”, a VIP service designed to attract higher paying patrons and generate more revenue per customer. By missing a simple phone call or forgetting to reply to an email, venues are losing out on large revenue potential and lost customers, up to thousands of dollars per VIP reservation. For high demand venues, these types of reservations are taken on order forms that must be faxed or emailed in to ensure the customer shows for their reservation. There are also typically limited tables available; guests frequently make reservations and fail to show, which leads to foregone revenue from the reservation (up to thousands of dollars per reservation). For online event tickets, promoters typically are paid-out post event; this makes it difficult for many to finance their events. Solution The Party Til The AM platform allows guests to input their reservation details, pre-order their alcohol bottles for the night, and even pre-pay if required by the promoters. This online platform replaces the current pen-and-paper system, saving guests time and the headache of filling in paperwork. Additionally, promoters are able to capture cash from sales of online tickets and VIP experiences (e. g. Bottle Service), at the time of the customer transaction, rather than after the event like competing 3rd party ticketing websites, thereby eliminating loss revenue from no-show reservations as well. Current Customers We have 25 customers, some of which are paying for our premium monthly subscription, with the majority using our free version, whereby we earn commission on ticket sales. Venues and promoters that use our bottle service and guestlist application will use it on a monthly basis, whereas event promoters only use it for special events. Monthly subscriptions are approximately $250 per month, where as our typical commission from ticket sales amount to 10% + $0. 95 per ticket. We are completing two franchising models in which we will develop a white-label platform for two large promotion companies in Toronto for a fee of $10,000. Bottle Service RSVPs Processed – 4,256 Guestlist Reservations Processed – 9,481 Subscription Revenue – $1,000 per month Ticket Revenue – $115,412 Ticket Transactions Processed – 1,791 Tickets Sold – 4,550 Previous Funding* – $66,000 in Government Grants & Funding * Our ability to attract government funding helped us validate our idea as a viable business, allowed us to launch a minimum viable product in Beta, generate jobs and grow revenues from $0 to over $100,000. Market Size and Investment Opportunity There are between 5,000 to 7,000 nightclub and concert venues across North America, generating over $10 billion in revenues from alcohol and admission tickets. In our primary markets, there are over 150 venues in Toronto and well over 1,000 in New York City, with 80% operating in Manhattan. NYC alone generates over $1. 3 billion in direct nightlife revenues with over 65 million admission tickets sold annually. Although a lifestyle business, we have proven our business model by generating over $100k in gross ticket revenue during the 3rd quarter of 2013 alone. For a forecast of revenues over the next five years, please view our financial pro-formas: https://drive. google. com/file/d/0B1m7Ok6ebRn8U2RVS1YxUVFoYjQ/edit? usp=sharing (note: 100,000 shares are now outstanding due to a 10-to-1 share split, with a new share price of 0. 003 BTC). We are offering a royalty into perpetuity for 10% of Net Revenue in return for the share purchases under this offering. Please refer to the IPO offering documentation for further information. For any questions, please email me directly at [email protected] Why is Nitelife Passport raising BTC Funding? We are seeking to issue 100,000 shares at a price of 0. 003BTC per share in order to raise a total of 300BTC. This will allow us to expand into the US, specifically NYC, as well as develop a payment system to accept BTC, LTC for online payments and through our mobile partnership with UNITELY, for sales of online tickets and VIP experiences. Since our market targets the young professional and tech savy individual, BitCoins are becoming more popular and prevalent in the industry. In order to reduce transaction costs associated with credit card processing, we hope to push BitCoins as the recommended means of payment. Currently, we utilize Stripe to process our payments, which has led to costly credit card fees. BitCoin will allow us to generate a stronger income stream, leading to greater dividend payments to our shareholders. Allocation of our 300BTC will be as follows:50BTC Online BTC payment system50BTC Integration with UNITELY150BTC Sales & Business Development (expansion into NYC)50BTC Platform upgrades (back-end UI, merchandise up-sell platform, maintenance)Issue Details Nitelife Passport is issuing 100,000 shares at a price of 0. 003BTC per share, for a total fund raising round of 300BTC. Dividends will be issued on a monthly basis, on 18:00 on last day of the month on net revenues (revenue from ticket sales & commissions less ticket face value & credit card processing fees) of the prior month. Details on our revenues will be provided via statistics generated by our processor, Stripe. We will provide screenshots and documentation from Stripe to substantiate all revenue claims we make. We will also provide annual reports prepared for tax purposes. Why are we listing on CyptoStocks? CryptoStock provides a unique platform for start-up companies that have traction to raise additional financing without the cumbersome process of going through the politics of venture capital. We believe that BTC will be a dominant currency of the future and hope to capitalize on its growing trends and adoption in the world. By being first to offer consumers the ability to pay via BTC, our company will not only promote BitCoins, but will also be able to attract BTC paying customers. BTC paying customers only further the goal of maximizing shareholder wealth. With our proven track record of generating revenue, raising over $66,000 in government grants and funding, and generating jobs, we believe adding BTC as a form of payment is taking another innovative step forward to the progression of technology. For questions and inquiries, please contact me at: Trung Pham, CEO
