St. Petersburg, FL, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Square Chain Corporation (OTC Markets: SQCC) is pleased to update shareholders on its most recent corporate activities.
- Square Chain management is pleased with the progress the company has made since March of this year. They are particularly pleased with the prospects for 2019. The product SQCC anticipates launching is in a rapidly growing technological & consumer goods product category.
- During the month of November, Square Chain Corporation President, Jeff Parker, along with the DRTV industry veteran previously mentioned and the developer of the Product anticipated to be licensed to SQCC, traveled to New York to meet with SQCC’s investment firm to present the proposed plan. SQCC introduced the participants, presented the product, along with a demonstration, outlined the sales and marketing plan and discussed timelines. The goal was to gauge their interest in funding the initial infomercial and media test. The Company felt the meeting and demonstration were well received and proceeded to the next step.
- Upon SQCCs return from New York, Square Chain Corporation executed LOI’s with both of its proposed DRTV partner and the developer of the product SQCC intends to launch early in 2019. The LOI’s outline everyone’s roles in the project and delineate the responsibilities. The company is in the process of working with its partners to move from the LOI stage to contract finalization.
- After many months of research and investigation, the company has determined it is financially prudent to focus on near term business opportunities such as our DRTV efforts, rather than near term blockchain opportunities. SQCC still believes blockchain technology applications have worthwhile potential in the long run, but the company will wait for the right blockchain opportunity before allocating funds towards it. The downturn in the cryptocurrency markets has slowed investment into this industry; and monetization of actual blockchain applications could be years away. SQCC will still pursue niche opportunities, such as the one previously discussed for the DRTV industry; and will remain open to possible joint ventures or collaborative pursuits with companies already involved with blockchain application development.
- The company remains in negotiations establishing a strategic relationship with a DRTV industry veteran regarding a joint effort to launch a product whereby Square Chain Corporation seeks to acquire the worldwide sales and marketing rights for the product. The product is to be sold for the initial test program, if the test proves successful, SQCC will launch the product nationally and internationally through traditional DRTV sales and marketing channels.
- The sales channels in discussion may include infomercials, US TV shopping networks, international TV shopping networks, Facebook, and traditional retail stores. For this initial product launch, SQCC has narrowed its discussions to an identified product that has the potential to provide initial revenues via the initial product sale; as well as recurring revenue for content subscriptions. SQCC expects to make a definite determination in the very near future. The proposed partner for this project has been a well-known participant within the DRTV industry for over 30 years and has successfully managed many projects in these product categories, as well as numerous other categories. This deep experience, along with extensive industry contacts will help the company to mitigate some of the risks associated with a traditional start-up company.
- As SQCC embarks on this strategy, the Company will continue to update shareholders as to its progress. It is premature to make financial projections, but the Company does anticipate the current strategy offering a near term revenue opportunity.
The Company’s new corporate address is listed below. You may visit our current website at www.squarechain.io. The Company plans to update it’s website early next year to reflect the current business strategy.
New Corporate Address
Square Chain Corporation
501 1st Ave N, Suite 901
St. Petersburg, FL 33701
About Square Chain Corporation
In March 2018, the Board of Directors elected to shift the Company’s business model to concentrate on business opportunities that might benefit from blockchain technology business applications. Square Chain has designed a multi-faceted business model to take advantage of the significant emerging opportunities being developed utilizing blockchain technology, and to invest in projects that can help define those opportunities. The initial opportunity we have identified is the DRTV industry.
The company has established a Twitter account and a Facebook account. We will utilize both social media accounts to disseminate corporate information.
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Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company's future revenues or results of operations.
Square Chain Corporation
Contact Information:
Square Chain Investor Relations
(727) 510-9525
info@squarechain.io