Hi Lakers, I am new to this forum (obviously as this is my 1st post
but I have some experience with share trading and information technology, among other things.
Before buying MXC I did some research on Varm Cosmo and to be honest, I almost didn't buy at the time. VC seemed like a small time operation (if legit) and couldn't see how or from where they'll come up with the promised millions. They started their entire operation in 2017 with no record of their existence or operation prior to that. Their Seoul, Korea registered office is listed as a nondescript office in a 3-floors building in the Gangnam area. No markings whatsoever about Varm Cosmo or Cavalabs. Their US operation is registered May 2017 in Delaware (managed by a local corp services company) and its subsidiary is registered June 2017 in Los Angeles, California with Timothy Y Kim as CEO, CFO, and Secretary. The LA office is located in the Koreatown area of the city, on the 3rd floor of a 1-2 bedroom(s) apartments residential building . Their "Operations Manager", Andrew Kim, is an MBA candidate at the University of Chicago. I can go on and on.
As for their websites, Korean or US, I have never seen such poor design and vocabulary let alone poor planning. Quote from Varm Cosmo's site "We use cutting edge skincare technology to develop new texture for better absorption and environmental friendly products." Seriously !! I do have a level of tolerance towards non-English speakers, but this is a commercial website.
When you are planning on launching a product, you don't wait for the product to be sitting in your warehouse to start building your commercial website (most of their pages are worthless). Their Korean Cavalabs (as well as Varm Cosmo) was registered (domain) by and designed (website) by a lady called Hwang Jung Yoon, doing the art direction, industrial design, and branding. She also happens to be the CEO, Visual Director of Varm Cosmo. We are led to believe that Cavalabs is their current leading product suite making all their money, and yet, they just launched their Korean website. That's their primary market !! The cavalabs.com domain (US website) is less than 6 months old and registered with Bell Canada in Toronto. When you investigate it comes up with a scam alert with a probability of 86% (this can be due to a number of reasons, valid or not).
Anyway, this is just the tip of the iceberg and to be honest, if I didn't believe that MXC had potential, excluding Varm Cosmo et al, I wouldn't be here. If the deal with Varm Cosmo is legit (and I admitted that I have my doubts) then all is well and dandy. If not, then there will be a short period of suffering, and they will have to do some serious explaining to the shareholders and to the ASX, but it will not take away the potential of MXC. I just hope the MXC management, who doesn't strike me as being that sharp in marketing and communication, have done their due diligence.
Cheers!
