June 2018 Company Update

July 02, 2018

June 2018 Company Update

PRODUCT UPDATES

RetroMini

June 2018 saw the reveal of a new RetroMini prototype dubbed "RetroMini 2". We took the feedback we received over the course of the last 6 months and applied it to refreshing the RetroMini. We have increased the screen size by 25%, added 2 extra buttons to the front for the usage of SNES games, modified rear triggers for easier use, and implemented a larger battery for increased gaming time. These improvements are projected to push RetroMini into Q4 with increased earnings. We will be moving forward with various marketing efforts to increase revenue beyond our standard promotion on the social media platform. 

June also saw the registration of a trademark for RetroMini. Due to the sheer performance of this product and the numerous unofficial devices being sold by unauthorized retailers, we are determined to protect our assets and stronghold the market. Trademark is currently pending and is due to be made official later this year. 

My Moon Lamp

June 2018 saw a refresh to our 3D printed Moon Lamp. After hearing feedback from consumers about having a multi-colour LED light, we worked with our supplier in China to have a 16 colour LED installed. This was easily applied and did not increase product costs. Having seen sales die off in Q1 after Christmas, the new release of the multi-coloured Moon Lamp has seen revenue increase dramatically. 

 

COMPANY UPDATES

Minuscule.io Collaboration

We are proud to announce a new collaboration with the Minuscule Network (www.minuscule.io). Minuscule accepts sponsorships from reputable and premium brands and businesses with products/causes that resonate with our community. They search for companies that have content and products that our audience consumes particularly related to art/design/photography. Through this collaboration, we will be advertising Paint By Number Co. to over 26million highly engaged followers. We firmly believe that this partnership will prove to be extremely beneficial for both parties. Minuscule will have the opportunity to collect important data on advertising product based blog posts, while Forward Solutions Inc. will benefit by offering products to a wider array of potential customers. 

Moneris Payment Gateway

Due to the unique nature of how Forward Solutions Inc. and it's brands are operated, we were restricted to which Payment Gateways we could utilize. Shopify Payments, while being the easiest to setup, takes reserves on businesses who fulfil their products from warehouses in China. These reserves would hinder our ability to have free cash flow for operating and product expenses. After months of operating only with PayPal, we have successfully been accepted by Moneris. Currently, 2 of our 3 operational sites are utilizing Moneris. Having Moneris allows us to offer our customers an added option during checkout and correlates to a higher conversion rate on our stores, as not all customers hold a PayPal account.

 

Daymon Schultz

CEO | Forward Solutions Inc.