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Monster Products Inc expects to improve its financial position with ICO

The manufacturer of headphones was in a difficult situation.

01.Jun.18 8:44 AM
By Shawn Highstraw


Monster Products Inc expects to improve its financial position with ICO
ICO, many experts believe the best way to collect the necessary funds for the project implementation. Today, it is resorted not only to companies that exist exclusively on the Web, but also offline businesses. At the same time, for many, the initial placement of coins becomes almost the only chance to improve the material situation. Thus, the manufacturer of headphones Monster Products Inc, which has suffered losses for several years, announced plans to conduct an ICO. Thus, the company hopes to raise 300 million dollars.

It is worth noting that this organization exists for about forty years. All these years, the sale of its goods was carried out in traditional ways, mainly at retail outlets. It is assumed that Initial coin offering will be able to change the situation at the root.

If Monster Products Inc will be able to obtain financing in the required amount, it will create a special platform, where its products can be purchased for tokens in the network of the Etherium. In total, 500 million tokens will be created, 300 million of which the company implements through placement. The ICO will be given twelve months.

The headphone maker is also going to release 75 million shares. This is done so that in case of failure with the launch of the platform, investors do not return the invested money, but exchange tokens for shares.

By the way, the company has not been doing very well in recent years. The managers tried to fight the crisis by reviewing the budget, removing unclaimed products, reducing staff.

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