Auxilium Global / AUX general update
First of all, we at Auxilium Global hope you’re doing fine under these crisis circumstances. The coronavirus has a large impact on the world, and also on a lot of businesses. Auxilium Global included. Before you think this is going to be a very negative article: don’t worry, in the long run we’ll be fine ;-)
A while back we informed you about the contact we had with exchanges to see if there was an opportunity for us to list our cryptocurrency Auxilium (AUX), and/or hold an IEO in order for us to hold a first fundraising round. Until now we didn’t have any success striking a deal, as a listing fee and/or service fee is holding us back from listing. We do check all other requirements which is positive.
The past weeks we’ve been in contact with a party that’s interested in becoming our partner. This will incline us to work together on philanthropic projects and them supporting us with the financing of an exchange listing. This mutually beneficial partnership is in the making, however both the partnership and the funding are pushed back on the timeline because of the COVID-19 pandemic.
Our future partner relies on products to be shipped in order to start funding their part of the business first in order to then support Auxilium Global. As you might know a lot of processes that need to cross borders have been heavily delayed due to many countries being in lockdown at the moment to prevent spreading of the coronavirus.
We expect to round up our partnership, and start looking at listing through this specific financial injection in Q3 of this year, or Q4 at latest. It’s a process that has been slowed down — due to logical reasons — but still is in movement. So overall — in the longterm — a positive development!
Furthermore, we’re contacting equity platforms to see if we can promote Auxilium cryptocurrency there for (at least) seed funding. Which means people can buy a part of the company in order for us to invest this money to continue further and more advanced development(s). We want to make it very clear this will mean we’ll be selling a part of the company, and not a share of the AUX coins. Additionally we’ll never give up a majority of the company, the current team will stay in full control always.
Selling equity is a very common practice, especially for start-ups to finance new goals and reach new highs.
We’re still being supported greatly by our blockchain partner Applicature who we’re in talks with to renew our partnership in order to increase the efficiency and effectiveness of our work.
For those interested in the Trustwallet listing application: the application to get listed on this mobile wallet — supported by Binance — is under way.
The AID distribution — our monthly interest distribution for AUX-holders — will be performed soon.
In sum, we’ve got some great things going on, but also need to be realistic about what is possible with the ongoing pandemic and realise some processes are very time consuming and can’t be handled more quickly than they are right now.
Wishing everyone all the best. Stay safe, keep your distance and HODL your AUX ;-)