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Raggertooth

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14/08/18

08:50

Post #: 34915449
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Originally posted by msn81 ↑

Guys,

The answers to many of these questions are all there in the announcements:

Check the announcement of10/01/2018
Development and Services Agreement with Noetic Synergy:

“...

Under the Agreement, Noetic will deliver all BPPL’s functional and technical specifications for its
Cryptocurrency Exchange. The services provided will consist of:

Cryptocurrency Exchange set up services;

Software implementation services;

Operational management services; and

IT outsourcing services.

Noetic will host and maintain the software and hardware infrastructure, including administration
and system maintenance to ensure performance and security standards are met. The proposals
received from Soar Labs and Noetic provide the same outcome in delivering and operating the
Cryptocurrency Exchange Solution as envisaged by the company. The projected cost for the
development of the Cryptocurrency Exchange by Noetic is commercially more favourable and
not expected to have a material negative impact on the Company's immediate cash reserves,
as the payments are broken down into stages such as: set up, the first year, subsequent year,
and on an ongoing annual basis. The payments have been negotiated to be made over a period
of time, in a mixture of digital and ordinary currencies, and only at the completion of milestones.
Noetic expects BPPL will be able to launch its Cryptocurrency Exchange by April 2018.
...”

IMO, this reads that Noetic are responsible for... well, pretty much everything – implementing the system and run partners thereafter.

It smelled a bit to me – if the agreement with Noetic was commercially more favourable Why did they not go with Noetic in the first place?!! Anyway, IMO – if taken at face value, this agreement with Noetic, at least removes the complexity with “Back Door Listing” that was slapped on BPG by ASX when looking at the deal with SoarLabs.

Personally – I’m almost at the point where I’ve gone beyond caring, when our previous pre-registration accounts allowed us to get past the login pages, there was visibility of the nuts and bolts working in the backend, so IMO – BPG seem to be pulling rabbits out of the hat one way or another to keep the show going. IMO they’ll scrape through and muster up enough cash, or borrow from their 8 Eagles wine range or sell a load of Treasure Hive Honey to be able to launch BPX. How it’s done, and by whom and how they pay...

I just hope they go-live soon and start earning some coin from the exchange, get the MVP out and continuous improvement thereafter. Otherwise we’ll get stuck in Analysis-Paralysis...

Anyway, all IMO.
Cheers
MSN

Expand

With regard to “why did they not go with Noetic in the first place?”
If my memory is correct, my understanding from a past announcement is that Warwick had already started to look into Noetic as a backup solution at the beginning - or something to that effect.
BPG Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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Byte PowerX website, page-26

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