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Monster Products Files $300M Cryptocurrency Offering for ‘Monster Money’

Iconic Monster Products looks to pivot to blockchain and cryptocurrency from halcyon days of premium speaker cables; files S-1 with SEC for "initial currency offering" (ICO) of 300 million Monster Money (MMNY) tokens.

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8 Comments
Posted by Blefadts on May 31, 2018

Good luck with that

Posted by Frederick Ampel on May 31, 2018

IF, and it’s a huge IF Is there anyone is willing to undertake what is clearly an extremely high-risk bet, given the pages of caveats included in the filing and the literally dozens of ways this could go sideways or collapse, it will be a major coup for Mr. Lee. However, how many ULTRA-High risk players are there who would essentially risk a 100% loss on this plan- probably not enough to make it fly. It seems a strange move for a company already in severe fiscal straights [ As of December 31, 2017, the company had negative working capital of nearly $76 million.“We anticipate that we will incur operating losses for the foreseeable future,” from their own statements] to stick its neck out on such a risky option like an ICO, especially with the as yet proven Ethereum structure as a backbone. Certainly, worth keeping a weather eye peeled but sounds like a bit of ‘we need to do something’ to change the game mindset.

Posted by iKnowTech on May 31, 2018

Smells like desperation to me.

Posted by Frederick Ampel on May 31, 2018

Desperation it may be but it’s not officially being presented that way- its a business “opportunity” for those who like HIGH-risk plays-

Posted by Steveo on May 31, 2018

Bad idea - don’t take the bait! Think of these offerings by product manufacturers as nothing more than advanced purchases of “Gift Cards” to fund current operations by robbing future sales - no real practical difference when you call it Crypto. Block Chain certainly has a role in ledger truth, but underlying company strength and ability to fulfill wild redemption of the “currency” is the real risk point.
Maybe if they paid interest and treated this like a bond offering, people could buy in under typical investor caveats and diligence. Otherwise, get ready to either get headphones and cables for life at the bankruptcy auction or a suffer financial smack-down. I rather buy a Crypto-Currency for a life-time redemption of ice cream bars.

Posted by Frederick Ampel on May 31, 2018

I’ll join SteveO’s lifetime icecream redemption scheme

Posted by RobMacK on May 31, 2018

I’m not a Noel Lee fan at all (as some will readily attest to) but I like (some) Monster products. I’m still using the in-ear headphone buds he gave out at the CE Pro Top 100 meeting in Los Angeles years ago. And yes, as Julie mentions, I too have that bottle of screen cleaner in a few clients’ homes- they love the stuff.

But this obviously desperate short-term funding tactic is just another stumbling block on the path that Monster is determined to build for themselves. ICO! Blockchain! Cryptocurrency! Ethereum! All the buzzwords are there but when you look at the small print, to me it looks like just another attempt to get some capital to prop up your struggling company. The gift card analogy is correct here- it’s been done before and will be done again and again and again.

Also Steveo: sign me up as well for your free ice cream bars C-C deal…

Posted by Steveo on May 31, 2018

OK, My “IC” Coin (Ice Cream Coin or ICE Coin) venture seems viable. As soon as I can find the proper commodity market metrics to underpin the global value of ice cream, I’ll get my ledger up and running. 1st one to send me $1K gets a freebie sugar-cone! Who needs mining, fiat, gold, silver or headphone indemnification when everyone is literally eating up your offering!

BTW~ Solid shout-out to Julie for providing such “meaty” journalism to an industry rife with marketing and hype. I apologize for making jokes about such a serious subject, but crazy ideas taken seriously sometimes need a silly counterbalance. Keep it up J.J.!

8 Comments
Posted by Steveo on May 31, 2018

OK, My “IC” Coin (Ice Cream Coin or ICE Coin) venture seems viable. As soon as I can find the proper commodity market metrics to underpin the global value of ice cream, I’ll get my ledger up and running. 1st one to send me $1K gets a freebie sugar-cone! Who needs mining, fiat, gold, silver or headphone indemnification when everyone is literally eating up your offering!

BTW~ Solid shout-out to Julie for providing such “meaty” journalism to an industry rife with marketing and hype. I apologize for making jokes about such a serious subject, but crazy ideas taken seriously sometimes need a silly counterbalance. Keep it up J.J.!

Posted by RobMacK on May 31, 2018

I’m not a Noel Lee fan at all (as some will readily attest to) but I like (some) Monster products. I’m still using the in-ear headphone buds he gave out at the CE Pro Top 100 meeting in Los Angeles years ago. And yes, as Julie mentions, I too have that bottle of screen cleaner in a few clients’ homes- they love the stuff.

But this obviously desperate short-term funding tactic is just another stumbling block on the path that Monster is determined to build for themselves. ICO! Blockchain! Cryptocurrency! Ethereum! All the buzzwords are there but when you look at the small print, to me it looks like just another attempt to get some capital to prop up your struggling company. The gift card analogy is correct here- it’s been done before and will be done again and again and again.

Also Steveo: sign me up as well for your free ice cream bars C-C deal…

Posted by Frederick Ampel on May 31, 2018

I’ll join SteveO’s lifetime icecream redemption scheme

Posted by Steveo on May 31, 2018

Bad idea - don’t take the bait! Think of these offerings by product manufacturers as nothing more than advanced purchases of “Gift Cards” to fund current operations by robbing future sales - no real practical difference when you call it Crypto. Block Chain certainly has a role in ledger truth, but underlying company strength and ability to fulfill wild redemption of the “currency” is the real risk point.
Maybe if they paid interest and treated this like a bond offering, people could buy in under typical investor caveats and diligence. Otherwise, get ready to either get headphones and cables for life at the bankruptcy auction or a suffer financial smack-down. I rather buy a Crypto-Currency for a life-time redemption of ice cream bars.

Posted by Frederick Ampel on May 31, 2018

Desperation it may be but it’s not officially being presented that way- its a business “opportunity” for those who like HIGH-risk plays-

Posted by iKnowTech on May 31, 2018

Smells like desperation to me.

Posted by Frederick Ampel on May 31, 2018

IF, and it’s a huge IF Is there anyone is willing to undertake what is clearly an extremely high-risk bet, given the pages of caveats included in the filing and the literally dozens of ways this could go sideways or collapse, it will be a major coup for Mr. Lee. However, how many ULTRA-High risk players are there who would essentially risk a 100% loss on this plan- probably not enough to make it fly. It seems a strange move for a company already in severe fiscal straights [ As of December 31, 2017, the company had negative working capital of nearly $76 million.“We anticipate that we will incur operating losses for the foreseeable future,” from their own statements] to stick its neck out on such a risky option like an ICO, especially with the as yet proven Ethereum structure as a backbone. Certainly, worth keeping a weather eye peeled but sounds like a bit of ‘we need to do something’ to change the game mindset.

Posted by Blefadts on May 31, 2018

Good luck with that


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