We are looking to transfer ownership of our eFORA technology into a Special Purpose Vehicle company, created with new investors for IoT.
We are looking to transfer ownership of our eFORA technology into a Special Purpose Vehicle company , which will be created with new investors.
Up 60% post-money equity will be offered in exchange for up to RM 2 Million [US$450,000] investment.
eFORA was originally created as a collaboration software for command & control and project management applications.
With a fresh injection of capital and ideas from new investors:
the new company can transform eFORA into a data-rich & visually engaging dashboard that integrates software APIs from various sensor data management platforms, big data platforms and incorporates cloud-based analytics / AI.
End user organisations will be able to seamlessly manage their Internet of Things (IoT) ecosystem and derive actionable intelligence to improve their operations.
High payback on investment within 2 years.
Cutting edge area with high demand from corporate and government organisations to visualise and manage their big data from sensors and databases. Our visual and interactive tool will provide them significant operational efficiency and related savings.
Looking to raise a total of RM 2 Million [US$450,000] in exchange for up to 60% post-money equity in a new company. Remaining equity will be held by by us.
Minimum RM 1 Million [US$225,000] required by March 31st, 2017 to be paid to us in order to acquire eFORA IP (PCT Patent Filed), eFORA Source Code and related Equipment, which will be transferred to the new company upon full payment.
These funds will be used to pay off existing financial obligations that we have accrued over the past year in order to develop eFORA.
The balance RM 1 Million [US$225,000] to be raised would be used as follows:
• Software development (Combination of outsourced and in-house) to enhance, tailor and re-brand eFORA as described above.
• Cover the minimum operational costs of the new company for one year which includes admin, payroll, rental and development / marketing team & professional services (legal, IP, finance / tax).
Up 60% post-money equity will be offered in exchange for up to RM 2 Million [US$450,000] investment, by March 31st 2017.