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Copyright © 2012 by Kyrano Corporation. 1 Click
Copyright © 2012 by Kyrano Corporation. 2
Copyright © 2012 by Kyrano Corporation. 3 What is Kyrano.com? It is a unique auction web site where each bid lowers the price of the item being auctioned. The winning bidder always gets a bargain. It is not a penny auction. It is not a gambling site. It is not a game. It is a legitimate, ethical, and fair business that benefits buyers, sellers, and stockholders.
Copyright © 2012 by Kyrano Corporation. 4 How does Kyrano.com work? We do not sell products. We carry no inventory. We auction discounts on high-value products. Winning bidders buy the products from legitimate merchants of their choice. Kyrano pays the portion of the price won by the winning bidder. We also hold auctions for discounts on college tuition, credit card debts, and installment loans.
Copyright © 2012 by Kyrano Corporation. 5 How does Kyrano.com work? To participate in an auction, members enroll during the enrollment period of one to 10 days. Members pay a small fee to enroll. Bidding starts at the end of the enrollment period. Only enrolled members may bid. Each bid requires a small fee. The enrollment and bidding fees create the discount that a bidder wins.
Copyright © 2012 by Kyrano Corporation. 6 How does Kyrano.com work? Members buy bidding tokens to participate in the auction. The enrollment fees from an initial number of bidders may be used to cover operating costs. Beyond the operating costs, most of the enrollment fee is used to develop a discount. As members enroll in the auction, they see the discount increasing. Bidders know when the auction will start. Bidding lasts a few minutes to a few hours.
Copyright © 2012 by Kyrano Corporation. 7 Enrollment page for an auction
Copyright © 2012 by Kyrano Corporation. 8 How does Kyrano.com work? Each auction requires a designated number of bidding tokens per bid. Each bid lowers the price of the product by increasing the discount. Each bid starts a timer countdown. The bidder whose timer runs to zero wins the auction. Other bidders restart the timer by bidding before zero is reached. The item becomes more attractive with each bid.
Copyright © 2012 by Kyrano Corporation. 9 How does Kyrano.com work? As bidding progresses, the cost of bidding goes up and the discount increases more slowly. If there is no winner after a certain number of bids, an Instant Winner (IW) discount is displayed. The IW discount becomes available to the current bidder during the timer countdown. If the Instant Winner discount becomes available, the bidder whose timer is running can accept it and win the auction. To stop the auction and become an instant winner, the bidder has to sacrifice some of the normal discount.
Copyright © 2012 by Kyrano Corporation. 10 How does Kyrano.com work? For Kyrano auctions to work, a large number of bidders is needed. If enough bidders don’t enroll in an auction, it is canceled and the enrollment fees are refunded. To ensure a large enough population of bidders, several similar items may be combined in a single auction. Each bidder is bidding on a single item.
Copyright © 2012 by Kyrano Corporation. 11 How does Kyrano.com work? Bidding is done with Gold, Silver, or Bronze tokens. Members buy gold tokens for 10 cents each. Gold tokens are fully refundable in cash. Silver tokens are given away as prizes. Members can also buy silver tokens in auctions at a discount. They have the same value as gold tokens, but they are not refundable in cash. Members who don’t win an auction may have their gold tokens refunded with bronze tokens. Bronze tokens are used only for bidding. They cannot be used for enrollment or refunded in cash.
Copyright © 2012 by Kyrano Corporation. 12 Example of a Kyrano Auction Mr. Able wants to by a car. He finds the car he wants at a local dealer, a Chevy Malibu with various options. He comes to Kyrano.com and enrolls in an auction for the car he wants to buy. Other members who want to buy a car also enroll in the auction. Each one pays a small fee to enroll. When enough people are enrolled, the auction begins.
Copyright © 2012 by Kyrano Corporation Ford Explorer $29, Ford Mustang $22, Chevy Malibu $21, Honda Accord $21, Ford Taurus $25, Honda Odyssey $26,805 $21,001 - $23,000$25,001 - $30,000 Mr. Able will bid on a Chevy Malibu for which the dealer is asking $21,825. Selecting the car in our list starts the enrollment process for auction #33. Ms. Baker is in the market for a car so she visits Kyrano.com and looks over the selection. She selects the Honda Accord and is sent to the enrollment page of auction #33. Dr. Davis decides to bid on the Ford Taurus. His selection is in a different price range so he is not sent to auction #33. His selection starts a new auction. Example of an auction for a car 2012 Chevy Traverse $29,224
Copyright © 2012 by Kyrano Corporation. 14 The enrollment on auction #33 is complete and bidding has started with a discount of $1,800. When bidding starts, only the enrolled bidders can bid. New bidders are not admitted. As bidding progresses the discount increases. Mr. Able and Ms. Baker are each bidding in the same auction although each is bidding on a different car. They see only their own product selection on their computer screen. Example of an auction for a car 2011 Ford Mustang $22, Chevy Malibu $21, Honda Accord $21,055 $21,001 - $23,000
Copyright © 2012 by Kyrano Corporation. 15 Bidders are assigned an auction ID. Their user names are not shown. This view belongs to Eagle6, who has 14 seconds to decide whether or not to bid. Mr. Able sees a Chevy Malibu on his view, with the same discount. No one knows when the Instant Winner button will become available or active. Example of a bidding pane Your auction ID is Eagle6 14
Copyright © 2012 by Kyrano Corporation. 16 The discount in auction #33 is $4,700 with no winner. The next bid costs 40 tokens. Ms. Baker bids. Her timer is counting down from 9 seconds. The Instant Winner discount of $4,380 is available and will become active when her timer gets to 5 seconds if someone doesn’t bid before then. Someone bids and restarts the timer. Mr. Able bids and his timer runs down enough to make the Instant Winner discount accessible. Should he accept the smaller discount and stop the auction for a sure win, or wait for his timer to run to zero, or have another bidder stop it? Example of an auction for a car 2011 Ford Mustang $22, Chevy Malibu $21, Honda Accord $21,055 $21,001 - $23,000
Copyright © 2012 by Kyrano Corporation. 17 The normal discount is $4,709. Mr. Able clicks on the Instant Winner button and wins a $4,396 discount. Kyrano sends Mr. Able a check for $4,396 payable to the car dealer for a Chevy Malibu. Mr. Able buys the car he wants from the dealer. Kyrano has a gross profit of $3,685. In some auctions the gross profit may be larger than the amount the bidder won. Ms. Baker spent $29 on the auction, so the total cost of her car is $29 more than the dealer’s asking price. Suppose that Kyrano has developed a sponsorship relationship with the car dealer. The dealer is willing to lower the price of the car to compensate Ms. Baker for her cost of bidding. Example of an auction for a car 2011 Ford Mustang $22, Chevy Malibu $21, Honda Accord $21,055 $21,001 - $23,000
Copyright © 2012 by Kyrano Corporation. 18 How does Kyrano.com earn? Members can bid on college tuition, credit card debt, a bundle of bidding tokens, a house, mortgage payments, or any product they want. Whether members bid on a $400 TV, a $45,000 car, or a $200,000 mortgage, the winning bidder wins a reduction of the cost. Kyrano earns a gross margin on every auction on which bidding starts without investing in any inventory.
Copyright © 2012 by Kyrano Corporation. 19 Imagine this scenario Suppose that Lowes is a Kyrano sponsor. This week in the US, 100 people will buy a $600 Ryobi cordless tool kit, about half from Home Depot and half from Lowes. These 100 people bid on the tool kit at Kyrano.com spending an average of $10 each. Kyrano collects $1,000. The winning bidder wins a discount of $400. We pay$400 to Lowes. He pays the balance of $200 for the tool kit. He got a bargain. Each of 99 losing bidders gets a $20 discount coupon from Kyrano, good at Lowes for the purchase of the tool kit. How many of the losing bidders will buy the tool kit from Home Depot? Lowes gains 50 extra customers by offering a 3.3% discount. Sponsoring a Kyrano auction can benefit merchants.
Copyright © 2012 by Kyrano Corporation. 20 Benefits of sponsoring Kyrano.com Benefits of sponsoring Kyrano.com Sponsorship does not require paying a fee or making an investment. A sponsor agrees to reimburse losing bidders their cost of bidding if they buy the sponsor’s product. The sponsor gains new customers. Sponsorship can mean increased sales. Sponsorship makes bidding a riskless activity. Everybody wins.
Copyright © 2012 by Kyrano Corporation. 21
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