RE:InterestingThis is what I find interesting... and not in a good way. Sounds like they're warning us about some major expenses that may impede our profitability. IBM is not a partner... nor does IBM need a company like DMG to build a global blockchain for cannabis; even though the NR made it sound like the two were 50/50 partners. DMG is paying IBM for their services - plain and simple. To be sure, IBM did not endorse, nor did they have any hand in the "unveiling" of the Wazabi platform (or should I say, the website that "unveils" the
concept for wazabi). Nor can you find anything about Wazabi on the IBM website. I Wonder how many millions will be declared in the upcoming ye? imo, IBM is but one of many expenses that we're about to be hit with and seeing that revenues for the first 9 months of 2018/2019 weren't anything special, I can't imagine the Year End is going to be any better... worse, yes, but definitely not better.
And as far as bitmain goes, Dan looks like he was photoshopped into the picture of the Rockdale ribbon cutting ceremony; and off to the side behind (construction workers?) to boot. Personally, I think Dan should have been front and center with the other important figures of the world's so called largest mining facility if DMG was in fact selected over many other companies as THE ONE! And to top it all off... it seems that DMG isn't even getting paid for their work at this point. So, more expenses............... It will be interesting to see what the "definitive agreement" says; I guess we'll know within the next couple of weeks. But really, this is another deal that I think DMG has made to look like a "partnership" when it really isn't.
They were only hired by Bitmain to provide "overall management" not selected by Bitmain as a JV partner. And look, oh goody, it's not costing DMG any money for construction!!!! And why should it??? This is turning out to be quite the scam, in my books!
DMG is not providing additional capital for the construction of the facility, but instead is providing Facility Management, Expertise and Experience to the partnership. A long-term definitive agreement is expected by end of 2019. Instead??? huh???
https://stockhouse.com/news/press-releases/2019/10/21/bitmain-selects-dmg-to-manage-north-american-facility Even their investor relations person, John Martin, is in panic about DMG. He claims he is no longer getting paid and admitted that he is being used as a "human punching bag" by investors. When the investor relations person is panicking it's time to re-evaluate.
IBM Services’ experts will collaborate with DMG to help build its new supply chain solutions which will leverage the IBM Blockchain Platform and DMG’s deep experience in blockchain analytics and forensics. Under the Agreement, DMG expects to spend approximately C$3,000,000 in the first 12 months to develop the global supply chain platform and up to a total of C$10,000,000 over three years through the hiring of IBM’s personnel. DMG expects to fund these costs through existing cash on hand, revenues... and if required, further financings or collaborations with other companies. IBM will provide program managers, technical architects, full stack developers, data scientists, data engineers, and developers to work alongside DMG’s blockchain development team. https://stockhouse.com/news/press-releases/2018/10/04/dmg-blockchain-to-develop-blockchain-solutions-for-global-supply-chain
I think Microsoft and Google opened the door for the word "partner" to be over-used, mis-used, and ab-used.
Pretty sad, imo