Throughout the month of October we continued to pick up a lot of momentum for Arathi Technologies, inc. We successfully completed the soft launch of the "f’tchd” delivery mobile applications and website. Scott and Eric spent a week in Las Vegas getting our initial drivers licensed and duly recognized by Nevada’s new, ctricter, standards. They also spent this time hand delivering contracts to Las Vegas dispensaries. We currently have 7 contracts awaiting final approval by the attorney’s of both parties. Once the first contract returns completed, Nevada will perform a mandatory inspection of the business for compliance and we will set to perform a "grand opening”.
One thing we learned this quarter is that the cannabis industry and its associated regulations are evolving and adapting quickly. This presents challenges that Arathi Technologies is already poised to answer!
One such example, we are pleased to present, is the upcoming launch of WickedWeedDelivery.com, a complimentary site for the f’tchd apps. This new IP will allow the dispensaries with whom we have contracts to upload their products into our database to be ordered at a slightly markup plus delivery fee. This new property allows us to further penetrate the Las Vegas market by cornering traffic and driving sales through our software.
We have been in active fundraising mode and have not slowed down. We were in New York this month with friendly investors and these talks went really well. They were extremely happy with our pitch deck and our presentation. During our several hours of talks we discussed the need for funding to expand Arathi’s Las Vegas ambitions to open a dispensary but to acquire funding to grow to friendly markets outside of Las Vegas.
We are in negotiations for them to infuse a generous amount of investment money into Arathi technologies, Inc. with the express goal of immediately acquiring an existing corporation with an active ticker symbol so that we may begin trading, at almost day one, to help ensure the ROI of all our shareholders. They have additionally added in operational funding and a commitment to funding our dispensary in the near future.
Details on this acquisition of an existing company will come as soon as details are finalized. We expect this merger to immediately, and noticeably, increase the value of your held stocks. We will update all shareholders as this deal progresses.
We continue to work with Wefunder.com in fundraising efforts as well. Arathi Technologies has challenged their platform’s limits as we are the first of our kind to seek fundraising in our model on their platform.
No partners in Arathi Technology, Inc. are taking salaries at this early stage. In fact we continue to pay for non-critical expenditures such as travel, lodging, food, etc. out of our own pockets and we anticipate continuing to do so for the near future, as we believe we can continue this growth period and are optimistic at our current growth trend. We believe in the future of our company and we thank you for believing in it as well.
We will be closing the "friends & family" offering of $3 per share at 11:59 p.m. Thursday October 7, 2019. If you or anyone you believe may be interested in investing with us would like to talk, please reach out to Scott at 859-285-6350 or by email scott@ArathiTechnologies.com
Thank you, Rob PetersNovember 2019 brief of company business to shareholders.