Over 11 million people worldwide have used ecstasy in the past year, and far too few of them have tested their substances prior to ingestion. Users infrequently test their substances because current field test kits are impractical to use in the settings where users tend to find themselves when making the decision to purchase and ingest illicit substances – at dark, crowded festivals and concerts. While no drug use is safe, ingesting substances which are entirely unknown is the kind of reckless endangerment absolutely no drug user deserves to find themselves in. At WhatsUp our mission is to foster a culture of drug testing that modern drug culture is sorely lacking. Our approach is education accompanying a field test kit that fits on a keychain and is easy to use discreetly. The drug we are currently focusing on developing field test kits for is ecstasy, because it is a substance that as both a high rate of use as well as a high rate of adulteration.
Notionally, WhatsUpMolly, our device for field tests of ecstasy contains a vial of Marquis reagent, which can be broken and applied by the user to the substance in question. The reagent then undergoes a color change depending on the substance present, which will inform the drug user and ideally influence the users usage. While field kit testing kits have existed for many years, existing field test kits have largely been designed with law enforcement in mind, and as such are difficult to use in a festival/concert environment. Our innovations include providing a way to carry the test kit on a key chain, a mechanism for breaking the reagent containing vials easily and with no chance of having to handle shattered glass (a risk in other test kits), as well as a package that retains substance/reagent in one place with no need for direct contact from the user. These innovations are simple, but have not yet been done because prior test kit developers did not have the vision of promoting a drug testing subculture within the drug using community.
The design and testing of the WhatsUpMolly has been finished, and we are currently seeking funds in part to address all legal issues associated with marketing and selling this product, as well as measures to protect our intellectual property. The market where we will start operations is the United States, as this is where we are located and where we feel we can best foster the culture of drug testing that will drive demand for drug testing field kits. Funds will also be used to cover part of the initial order for the first production run of the device. The rest of the funds will be used for our marketing strategy, which will include development of a website to accept preorders as well as a social media campaign.
Breakdown of funds
Requesting $50,000 USD = 3462482 Nxt for 10% equity in PartyDown
$35,000 for legal retainer
$13,000 towards initial production run (need $20,000 for initial production, going to cover the rest of the $7,000 with the preorder campaign)
$2,000 marketing/website
Our initial estimates are a cost per device of $.77 USD, and we are shooting for a $4 retail price point per device, which means that we will need just shy of 2000 preorders to be able to complete initial production. There were over 1.6 million users of ecstasy in the United States in the past year, so we believe that 2000 preorders is attainable.
We could lie to you with projections for growth, profitability, and dividends, but a cursory look at the numbers we have provided should illustrate that this product can generate a market that can easily be extremely profitable. Our plan is to be ready to market by the 2015 summer festival season, with dividends being paid quarterly thereafter.
Asset ID: 10784896611588455150
Asset Issuer: NXT-DKLA-4842-Q77C-DBYJS
Asset Price: 10 Nxt/share
Also have a thread at
https://nxtforum.org/asset-exchange-general/whatsupmolly-field-testing-mdma-asset/
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I'll agree my last post was hastily written but to imply that cbtc's reports for the last few
