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Copyright © 2012 by Kyrano Corporation. 1
Copyright © 2012 by Kyrano Corporation. 2
Copyright © 2012 by Kyrano Corporation. 3 Kyrano.com profile Florida private corporation 3 years in product development Product tested and operational Need to fill executive-level positions to ensure successful product implementation and management Needs people who are entrepreneurial, flexible, capable, hard working, take-charge team players Join the team and make good things happen
Copyright © 2012 by Kyrano Corporation. 4 Kyrano.com was founded by Serge Matulich, Ph.D., CPA BS in accounting from Sacramento State University Ph.D. from University of California, Berkeley CPA licensed in Florida Professor Emeritus with more than 35 years of university teaching experience. Author of college textbooks and academic papers.
Copyright © 2012 by Kyrano Corporation. 5 A Unique Opportunity Become part of the management team Acquire ownership and managerial control Invest only your talent and time You may, but are not required, to make a monetary investment at very favorable terms Your job is to help develop a realistic, workable business plan and then implement it You are invited to
Copyright © 2012 by Kyrano Corporation. 6 A Unique Opportunity Describe the firm in enticing appealing terms Establish appropriate compensation levels Determine the portion of compensation to be paid in equity Develop realistic budgets for all aspects of operations Establish a schedule of achievable goals Make realistic projections Your business plan must
Copyright © 2012 by Kyrano Corporation. 7 A Unique Opportunity You believe that Kyrano.com has a high profit potential and good chance of success You like the unique concept that appeals to a large population of consumers You believe the concept will appeal to merchants You are serious about your participation You are confident that the management team is capable of doing what is necessary to ensure success You should participate if
Copyright © 2012 by Kyrano Corporation. 8 A Unique Opportunity You are unable to make a serious commitment You need immediate monetary compensation You don’t believe in the concept You are not confident that the project can be successful You should not participate if
Copyright © 2012 by Kyrano Corporation. 9 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. 10 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 sellers of their choice. Kyrano pays to the merchant the portion of the price won by the winning bidder. The winning bidder pays the remainder of the price to the merchant. We also hold auctions for discounts on college tuition, credit card debts, and installment loans.
Copyright © 2012 by Kyrano Corporation. 11 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. 12 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. 13 Enrollment page for an auction
Copyright © 2012 by Kyrano Corporation. 14 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.
Copyright © 2012 by Kyrano Corporation. 15 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. Other bidders may bid before the IW discount becomes available to the current bidder.
Copyright © 2012 by Kyrano Corporation. 16 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. 17 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. 18 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. By selecting the car in our list, he 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 from our list 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. 20 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. 21 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. 22 The discount in auction #33 is $4,700 with no winner yet. The next bid costs $4. 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. 23 The 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. 24 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. 25 Additional income sources Commissions on real estate auctions. Payments by merchants who want to list their products. Sponsorships by companies whose products are featured in our listings. Advertising.
Copyright © 2012 by Kyrano Corporation. 26 Imagine this scenario Suppose that Lowes hardware store 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 send him a $400 check payable 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. 27 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. 28 Profit potential The profit potential is high. Simulations based on conservative, realistic assumptions show that Kyrano can earn a reasonable amount of revenue on every auction. Margins on product auctions can range from 3-5 percent to 300 percent. Kyrano does this without investing in any inventory. No other company offers auctions for discounts on college tuition, credit card debt, mortgage debt, and other obligations. Such auctions offer attractive terms to members, keep non-winners’ losses low, and still yield a good gross margin to the company.
Copyright © 2012 by Kyrano Corporation. 29 Where Do We Stand Now? Fully tested and operational software. ISP paid through Domain names paid. Incorporated in Florida, annual corporate fee paid for Federal ID number obtained. Bank account with Chase Bank. No debt. Merchant account accepts all credit cards. Corporate seal and records complete. Tax returns for 2011 filed. About 200 members registered as bidders.
Copyright © 2012 by Kyrano Corporation. 30Kyrano.com Does the concept excite you? Can you believe in the concept? Can you contribute to its success? Are you innovative, energetic, and eager to participate? If you can answer YES, Kyrano Corporation may be for you.
Copyright © 2012 by Kyrano Corporation. 31 What’s in it for you? Kyrano is a ready-made startup with all the initial work already done. You are offered ownership, management, and future potential at no cost to you. Your investment is your skill and the time it takes you to take the company to the next step. The founder does not insist on a controlling ownership interest. The founder will not participate nor interfere in your management of the firm.
Copyright © 2012 by Kyrano Corporation. 32 What’s in it for you? Your business plan and how you implement it will determine your level of success. This opportunity is not to be taken lightly. There is a lot of work to be done. The founder will act as chairman of the board until you can establish an adequate board of directors with independent outside members. Time is a critical resource. Don’t waste it.
Copyright © 2012 by Kyrano Corporation. 33 Kyrano needs people Kyrano needs a solid, serious management team. Realistic compensation can be coupled with generous grants in the form of equity. Your share of equity should be worth far more than a salary you might have earned in a job. Whether this is realized depends on you and your team’s contribution to Kyrano’s success.
Copyright © 2012 by Kyrano Corporation. 34Disclaimer There are no guarantees. Whether a management team can be formed depends on the responses to the ad that brought you here. You may not be selected as a team member. This offer may be withdrawn if there is not sufficient response and participation.
Copyright © 2012 by Kyrano Corporation. 35 Evaluate Your Situation Do you have skills, talents, abilities, and willingness to work hard work to benefit yourself and Kyrano Corporation? Are you willing to work as a team member toward a mutual goal to make the company successful? If you truly believe Kyrano Corporation is a great opportunity, your participation is invited. This is a ground floor opportunity to become an entrepreneur in a ready-made start-up with no monetary investment. Such an opportunity may not occur again in your lifetime. Think carefully before you make your decision.
Copyright © 2012 by Kyrano Corporation. 36 What’s the next step? When this presentation ends, return to the site and read: How it works About us Advice to Bidders FAQ If you have any questions, use the Contact link to ask them.
Copyright © 2012 by Kyrano Corporation. 37 What’s the next step? In your cover letter state clearly that you have viewed the entire presentation and read the text at the four links. Send your resume and cover letter as a PDF, Word, or WordPerfect file to
Copyright © 2012 by Kyrano Corporation. 38 Kyrano Corporation Balance Sheet December 31, 2011 ASSETS Cash Organization costs Software license Total Assets LIABILITIES Due to Serge Total liabilities CAPITAL Common stock, $0.10 par value, 100 million shares authorized, 1 million shares issued and outstanding Retained earnings (deficit) Total capital Total Liabilities and Capital $ 11, ,500 98, ,000 (1,691) 98,309 $ 98,452
Copyright © 2012 by Kyrano Corporation. 39
Copyright © 2012 by Kyrano Corporation. 1 Click.
Copyright to 2011 by Kyrano Corporation. 1 Where every buyer gets a bargain.
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