BOOM! If you didn’t see yesterday, we’re happy to let you know that our partner, Aliant Payments, announced that they are the first official Litecoin Foundation payments partner! (#happydance) We love getting the updates from Eric and his team and seeing all of the success that they have achieved since launching their cryptocurrency integration with NetCents. The success that they have achieved in promoting their services to the cryptocurrency community, proves that there is demand for cryptocurrency payment solutions and the NetCents platform.
The validation our platform is achieving through their successes speaks to the hard work our team has put in over the last 18 months to build a best of breed solution to the cryptocurrency payments problem. We couldn’t be more pleased to be the technology powering their cryptocurrency accomplishments. The more our partners achieve, the more success NetCents has.
Our goal is to be the universal hub for transacting cryptocurrency, both online and off. Our go-to-market strategy has always been to have companies white label our platform. Sometimes, this means we can’t say as much as we would like, but know that we are the technology that underpins our partners’ entry into the cryptocurrency market. Again, we can’t overstate how ecstatic we are about all of the buzz around Eric and the entire Aliant team and we are always here to help them in any way we can!
With all of the great news out right now and all of the pieces of the NetCents puzzle finally coming together, we are sad and disappointed at some of the misinformation and lies that we are seeing online right now. Normally, we don’t comment on this directly, but this time we couldn’t just let it go. We want to take this opportunity to address some of them specifically to clear up any misunderstandings and misinformation being shared.
We are talking about people’s inability to read financial documents and the wildly inaccurate statements about our compensation packages. In the clearest terms possible, no one in NetCents has ever drawn a one-million-dollar salary, not even anything close to being in the same ballpark as that – and that includes comparing the Tim Bits league to the NHL. Every executive on the NetCents team has taken a pay cut to work here. And in many cases, quite a large pay cut. Why would we do this? Well, it’s simple, it’s because we believe in NetCents’ future and are willing to take a pay cut now for the future opportunity.
What does this mean? Simply put, option plans. And every member of the NetCents team has them, from top to bottom. This keeps the team’s eye on the prize and focused on achieving our goals. Every individual’s success is directly tied to the success of NetCents. This keeps us motivated and working long hours regardless of the current market.
We do this because we have a shared vision for the future. If we were in this for a quick buck, we would have liquidated our shares and options when the stock reached its peak of $6.75. But did we do that? No, not a single share was sold by an insider. And before you ask, yes, we held plenty of shares and options at that time that could have been sold into the market. Ask yourself why we didn’t sell our shares. It’s because we believe that they will be worth significantly more in the future. It’s as simple as that.
We also wanted to address some of the lifestyle and travel comments that we’ve seen floating around out there. Yes, sometimes we travel business class. No, we are not charting private planes while sipping on champagne and eating caviar.
Why would we do this? Again, it’s simple math. We are flying around North America and Europe on long flights and going straight into work mode when we land. We are meeting with key industry people and potential new partners. In order to be successful in these meetings, it’s pivotal that the team is fresh and on their A game. We’ve all flown economy. This isn’t going to happen after an 8-hour flight sitting in coach. Simply put, this is money well spent.
In the coming weeks and months, you’re going to start to get a lot more updates from us as things start to roll out. These will be the announcements that you’ve been waiting for and some of them will cause you to have a knee-jerk negative reaction since we can’t reveal our entire plan to you. But know with a little patience on your part, our decisions will become obvious to you and we look forward to our coin update that will be coming out in the next couple weeks.
This brings me to the final point that I would like to address today. Transparency. We strive to be as transparent as we can. Sometimes, we’re very successful with this, other times, not so much. We would love to answer every single individual question posed to us via email, phone call, tweet, support ticket, and social update. But we can’t. This drives us crazy, but it’s just the situation we are in. As a publicly traded company, we are not allowed. We update you as soon as we can, but often it’s longer than we would like, and you would like it, to be.
Thankfully for us, the majority of our partners are private companies. And they are able to spread the good news much easier than we can. It’s a win-win-win situation. They can say things we can’t but would love to, they get to give their followers updates, and you can glimpse an insight into the larger picture that we cannot share.