|1||📈 Founded by the creator of DataDash, the #1 YouTube channel for crypto with 343,000 subscribers.|
|2||✔️ Our app is fully built and live on both iOS and Android.|
|3||💰 Our company generates multiple revenue streams from lending, borrowing, trading and transactions.|
|4||💭 Advised by Zeb Evans, founder of ClickUp.com & John DeVadoss, architect for .NET at Microsoft.|
|5||👨💻👩💻 Over 3,400 people registered to be notified for Digifox's public launch on June 15th.|
|6||📊 We constantly aggregate the best financial services on the market into one seamless experience.|
|7||⚡ Digifox has been entirely self-funded by the founder, Nicholas Merten.|
|8||📢 We've created a cutting-edge referral model to build real relationships and scale exponentially.|
Nick and his team are building tomorrow's institutions.
Digifox is bringing crypto mainstream and enabling people across the world to participate and to benefit in doing so.
Nick is a pioneer and a respected leader in this transition; his vision and his focus is instrumental in defining the vision and roadmap for Digifox.
It is my privilege to be a part of this industry transition, and to support Nick and the team on this mission.
Finance is severely outdated. Users earn nearly zero interest on their savings, it's expensive to move money, and most people end up needing a dozen different applications in order to manage their finances. Digifox has created an all-in-one, intuitive app that allows you to earn interest rates as high as 8% on your savings and sent payments across the globe for pennies.
When your managing your finances, you'll likely have to download a dozen different apps, deal with countless fees, and settle for poor returns on your hard-earned savings. It's become the norm to expect less. But that's all about to change.
Digifox is an app that can aggregate the vast majority of your financial needs. Whether it's managing your savings, making payments, managing your taxes, or buying cryptocurrencies, we've got you covered. No need to manage countless apps or input your personal information a dozen times on different applications.
In the United States alone, there are $9.2 trillion dollars in deposits, earning a measly 0.07% APY on average. This is unacceptable in our view. That's why we've built a competitive marketplace for you to choose where you put your money to work. We offer opportunities that pay as high as 7% annually, and aim to add even more options as time progresses. Our key partner is Ce
Payments are simply outdated. With Digifox, we're bringing payments into the 21st century. No more having to wait for three business days or dealing with ridiculous transaction fees. We're helping everyday people, businesses, and merchants bring down the cost of payments. The max fee we charge per transaction is 15 cents.
Digifox has made a lot of progress over the course of a year. We've grown from a concept to a fully-built product, available to users in over dozens of countries on both iOS and Android. And all early stage efforts have been funded by the founder, Nicholas Merten.
Digifox has financial statements ending December 31 2019. Our cash in hand is $2,812.05, as of May 2020. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $9,351.74/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
Digifox serves as your all-in-one finance platform. Earn up to 7% on your savings, buy cryptocurrencies, and send, receive, or spend your money across the globe for much lower fees.
We want to be the app you use for all your financial activities. Whether you're putting money away for future expenditures, or paying back a friend for dinner, we'll hope to be the app you turn to.
The Company is not a financial advisor. At Digifox, we work with licensed institutions to provide the best services possible to the end-user on our platform. Digifox is not a financial institution; Digifox is a way to visualize and interact with your digital assets, rather than the custodian or owners of your funds.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
Digifox Corp. was incorporated in the State of Delaware in July 2019.
Since then, we have:
Historical Results of Operations
Our company was organized in July 2019 and has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
To date, the company has been financed with $59,500 in debt.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 8 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 6 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Digifox Corp. cash in hand is $2,812.05, as of May 2020. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $9,351.74/month, for an average burn rate of $9,351.74 per month. Our intent is to be profitable in 6 months.
Most recurring expenses, such as IncFile.com & Wix.com, have remained the same. But we've recently adjusted the payment structure for our core team members, Chase and Madison. We've initiated monthly retainers as of the last few months.
We expect to yield revenues of $500K-750K in the first 6 months, with a maximum of $375K in expenses during the same time period. We expect to begin generating revenues as soon as we launch the app (June 2020), and no further capital is needed for our initial launch.
If we're waiting to close out a raise for the startup, the founder, Nicholas Merten, can provide a short-term loan to the business that can be paid back at a later date after the raise.
Digifox, serving as an aggregation platform, deals with a lot of partners (Celsius Network, Kyber Network, etc.) It's important to understand that users may have problems or negative experiences with these platforms.
The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
We're utilizing a wide range of emerging technologies, such as "smart contract" wallets and "decentralized exchanges". Though these technologies have received varying levels of audits and are currently being used in various projects, it's important to know there can be some risks involved.
Cryptocurrencies & financial technology in general face heavy scrutiny from regulators across the globe. Keep in mind that Digifox may have to adjust its business practices or services in order to comply with future regulations in varying jurisdictions, and this could certainly .
Our business is centered around the emerging industry of "smart wallets" that aim to streamline usage of digital assets, such as USD Coin and Ethereum. We highly recommend having a basic understanding of the cryptocurrency industry before making any form of investment.
Some of our team is part-time or being contracted, so if having the entire team committed full-time is a concern, Digifox doesn't currently meet that obligation.
The Company has limited operating history, which makes it hard to evaluate its ability to generate revenue through operations.
Our business could be negatively impacted by cyber security threats, attacks and other disruptions.
Purchasers will not become equity holders until the Company decides to convert the Securities into CF Shadow Securities or until there is a change of control or sale of substantially all of the Company’s assets.
The amount of capital the Company is attempting to raise in this Offering may not be enough to sustain the Company’s current business plan.
Damage to our reputation could negatively impact our business, financial condition and results of operations.
Digifox is subject to the risk of possibly becoming money services business under U.S. Bank Secrecy Act and other federal laws. Digifox, based on the facts and circumstances of its business model and guidance from the U.S. Department of Treasury, does not believe it is a money services business as defined. The predominant reason for the Company’s view is that the Company does not act as a financial intermediary in transactions, customers of Digifox have total, independent control of their digital assets at all times, and the customer’s digital assets is not custodied by Digifox.
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