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Welcome to the The
Lowdown from
DN Journal - your source for notable news
and information from all corners of the global domain name
industry!
The Lowdown
is compiled by DN Journal
Editor & Publisher Ron Jackson. |
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ROTD
Will Run a Unique Domain
Liquidation Auction With
Bidding to Start at $2.5 Million
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Update:
By
court order this auction has been
rescheduled for Wednesday, June 16
at 1pm US Eastern time.
RightOfTheDot
(ROTD) will be conducting a a unique
online auction on
Thursday
(June 10, 2021) at 1PM U.S.
Eastern Daylight Time - a court
ordered liquidation of The Income
Store. Over 3,000 domain
names (including more than 200
revenue generating websites), intellectual
property, computers and office equipment
will be offered as a single
lot with bidding to start at $2,500,000.
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The
Income Store was a business that
purchased and built
revenue-generating websites
for investors.
The company made the Inc Magazine Top 5000 in 6 out of 7 years before
the roof caved in on them. They were charged with paying older investors
with funds derived from new investors, a tactic that caught the
attention of the U.S. Securities and Exchange Commission (SEC)
who then forced
the company into receivership.
Interested
parties will be required to sign a non-disclosure and non-affiliation
agreement to participate
in the auction. Bidders will also have to make a $50,000
deposit that will be held in escrow and refunded unless the bidder is the
winning bidder. Once approved, bidders will be given access to the complete
list of domain names, websites and other financial and intellectual property
information included in the auction sale. Additional
information can be found at http://www.incomestorereceivership.com/.
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(Posted
June 8, 2021)
*****
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