New Strategic Partnership!
Tradefox is proud to announce a new strategic partnership with Maestral Solutions. Maestral Solutions is a global Product-Development-as-a-Service technology development firm with offices in the US, EU, and South-Eastern Europe. With an impressive team of over 200 talented professionals, Maestral helps their clients around the world at any stage of the software product development cycle.
From their flagship Sarajevo office Maestral is providing all the expertise and capacity necessary to keep development projects moving at Tradefox. The strategic nature of the partnership affords Tradefox the opportunity of re-focusing investment capital towards commercialization of our SaaS product.
We are happy to welcome the Maestral Product Development team to our Tradefox family!
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Well done!
I still don't recognize "Tradefox
Hi Steven, I'm not sure I understand. Tradefox is the brand name we are using to position our product for rapid growth into new verticals outside the scrap world. Company name is still Scrap Connection, Inc.
Great news! Keep up the good work!
partnership?? as in working together?!
that's Amazing!
As in they are sharing the risk with us and giving us excellent terms. Have a look at my reply to Mark Tetreault's questions for more details! :)
I'm not familiar with Maestral but this sounds like a positive move and like good progress. I do believe that commercialization of the SaaS product is critical for the company at this time and anything helping towards this goal is a big win.
What are the terms of the partnership?
Very good question, Mark. We receive two developers, on a full time basis and a designer, project manager and quality assurance manager on a part time basis. Their work will be billed out hourly with a substantial discount. The hourly rate is roughly half of what these specialists would cost in Amsterdam and is being further bought down with stock options which is freeing up cash.
On top of that, we agreed that no invoices will be paid for 6 months allowing us to plow everything we have into commercialization of the product which is looking very very exciting at the moment. At the 6 month point we will discuss the term over which we will pay these discounted invoices.
That's GREAT NEWS GUYS!!!👍👍
Thanks for the update.
Good to know.
good to here
Keep up the good work!
Thanks for the update
Thanks for the update Chris! Looking forward to more great things from Scrap Connection/Tradefox.
great news!
Thanks for the update, Chris!
Awesome! As investors, many of us are like sponges and we love to soak up lots of data. Thanks for the regular updates!
Congrats Chris! You're moving right along!
Sounds like another great idea!
Great news! Keep up the good work!
Wow! Thanks for the good news!