Takeoff Media Ltd (Pay It Now NZ)

By Craig Duffield

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About

Takeoff Media Ltd (Pay It Now NZ)

A Note From The Founders

Pay It Now (PIN) was founded on a friendship between two former aviation colleagues. When Covid struck the world in 2019, we were made redundant from large International airlines. With both of us having a background in Cryptocurrency trading and mining, we discussed starting a business together.

 

We realised there was a gap in the market for simple and secure cryptocurrency payments for store and website owners. We set out to fix some of the current issues in the cryptocurrency sectors; we saw that crypto was slow and expensive to use, making small purchases like buying a coffee unaffordable.

 

To fix these problems, we created our own Layer 2 solution to allow our customers to complete transactions in less than a second without any expensive transaction fees, and the PIN Network was created.

 

From there, additional products like PIN Payments, PIN Rewards, PIN-FT, and PIN Data have been gradually added to the PIN Network, which has allowed PIN to become one of New Zealand's leading blockchains companies. Now it is time to raise capital through PledgeMe to expand our products to the global markets and introduce PIN to the world.

 

We are excited to have you on as a potential investor and part of the pioneering Pay It Now team. 

 

Company Overview

Takeoff Media Limited is the ultimate holding company, and 100% shareholder of its subsidiary: Pay It Now NZ

 

Our product Pay It Now (PIN) is a payment, reward and data storage system that utilises blockchain technology to achieve instantaneous transactions with low fees and secure data storage that provides an alternative to traditional cloud storage.

 

Our Mission

 

To incorporate cryptocurrency services into the daily activities of businesses and customers by providing innovative, simple, secure, and rewarding services that increase the mass adoption of cryptocurrency through PIN’s unique payment, reward, and data solutions.

 

Our Vision

 

To increase accessibility and usability of blockchain for all age demographics on a global scale by being the go-to solution for payments, rewards, and data.

 

 

Why Choose PIN, And Why Invest In Us?

 

We believe PIN is novel because:

 

It’s simple ​and secure​ PIN improves customer ​retention and engagement​
       
PIN increases business​ revenue​ PIN reduces ​business costs​
       
The time is right for a complete digital payment solution using blockchain technology We believe PIN is exciting and ​ innovative & appeals to ​Millennials and Gen-Z​
       

 

 

Company Timeline

 

Our Key Products & Services

   

PIN Token is the native cryptocurrency to the PIN ecosystem.​ We created PIN on the Binance Smart Chain, which is an Ethereum compatible blockchain but developed with its own architecture and token management. PIN Token is a BEP20 token, currently tradable on PancakeSwap - with exchange listings soon to come.​

     

 

 

 

PIN Swap has been designed as a system that no longer requires users to connect their crypto wallet and, with a simple click of a button, transfers your required crypto straight into your wallet through the interaction with our smart contract and back-end API.

 

 

 

 

 

 

PIN Network App is a hub on which all PIN products can be accessed. Customers and merchants can find features such as PIN Payment, PIN Rewards, and PIN Wallet, enabling users to experience the fluid, unified PIN ecosystem.

 

 

 

 

 

 

PIN Hosted Payment Gateway is a Layer 2 blockchain solution that innovates digital transactions. Transactions on the payment gateway eliminate gas fees and simultaneously provide a seamless, secure connection by using blockchain technology. In our view, PIN’s blockchain-propelled payment gateway is an innovative and sensible use case.

 

 

 

 

 

 

Coming Soon...

 

 

 

PIN-FT will be a non-fungible token (NFT) platform that allows users to trade NFTs. In addition, PIN-FT will be a gas-free minting solution (free minting fees) to mint NFTs on the PIN-Network. PIN-FT will be an ambitious charity-based project not yet attempted in blockchain technology.

   

 

 

 

 

 

 

PIN Marketplace is currently being developed. It will be a unique online platform where merchants and consumers can transact using only cryptocurrency as means of payment. In addition, all PIN Merchants can sell their products and services on the PIN Marketplace to the global base of PIN users.

 

 

 

 

 

 

 

 

PIN Data is a subscription-based system that securely stores data on the blockchain; PIN Data will introduce a new way to store customer information with ease. The future PIN utility is an innovation in data storage, utilising hashed-data, converted and securely stored on the blockchain.

 

 

 

 

 

Sustainability

 

During our research, we found several articles relating to the energy consumption of Bitcoin being very high globally, but compared to the other sources listed in the chart, the figures speak for themselves. 

 

Pay It Now has further reduced energy consumption compared to Bitcoin. The PIN network system uses significantly less energy due to our proof of history consensus. Our servers use the equivalent power of a high-end gaming PC, which is around 1400 kWh per year*. 

 

 

*McCook, H. (2021, May 4). A Comparison Of Bitcoin’s Environmental Impact With That Of Gold And Banking. Nasdaq.

*Hayden, L. (2021, November 15). How Much Power Does a Gaming Computer Use? (Updated!). The WiredShopper. 

 

 

Target Market

PIN's target market is any business (Bricks & Mortar, online, or invoice generating business) that sells products and services.

 

PIN Payments, PIN Rewards and PIN Data will each be applied to different businesses that adopt PIN, depending on their business operations. Any merchant selling a product or service can allow their customers to accumulate PIN through the reward system, which can be: 

  • exchanged for fiat, 
  • changed between different cryptocurrencies, or 
  • traded for goods or services in stores that have adopted the PIN network. 

 

PIN Data will be aimed at companies with highly sensitive data, such as lawyers, accountants, doctor's surgeries, and hospitals; practically any business that stores client information.

 

Market Size

Payment services are a $1.6 trillion worldwide market*. Less than 1 percent of payments are done using crypto*. This is due to 'costly and sophisticated' options on the market that don't reduce bitcoin gas expenses (transaction fees).

 

According to Statistics NZ, in 2021 there were over 562,520 active businesses registered in New Zealand. PIN is aiming to capture a minimum of 1% of those businesses.

 

PIN expects huge demand from individuals who desire simple, safe transactions and bitcoin benefits for loyal customers. In addition, retail businesses, professional and trade services, and website owners employ PIN products to reward customers and secure data. With most stores allowing digital payments, PIN Payment and PIN Rewards may be readily implemented.

 

27% of in-store sales* used a digital wallet. 41% and 46% of eCommerce and mobile commerce sales were made with a digital wallet. By 2025, digital wallets might account for $10 trillion in worldwide transactions.

 

PIN incentives may be utilised at any store that accepts PIN Payment; thus, the system will expand in popularity as more companies implement it. Cloud data storage is valued at $76.6 billion. PIN Data has the potential to disrupt this sector by leveraging revolutionary cloud technologies, such as secure blockchain.

 

Competitor Analysis 

 

PIN Payment is a blockchain-based payment gateway that uses numerous digital currencies and could be compared to PayPal, Stripe, or Worldpay of cryptocurrency. 

 

PIN Payment will attract shops by only charging 0.5% per transaction, which is significantly lower than PayPal at 3.5% + 30c per transaction, Stripe at 2.9% + 30c per transaction, and Worldpay at $38 for regular services and $92 for advanced services per month, for transactions. These alternative payment channels are expensive for merchants. Businesses will enjoy PIN Payments at much lower transaction fees when compared to the payment mentioned above channels.

 

Current forum, website and instore reward systems do not allow owners to compensate loyal members for providing content and engaging in their community. For example, Fly Buys and Air Points, well-known in New Zealand, provide a choice of items and services in exchange for being loyal customers at hundreds of retail stores countrywide but do not allow those rewards to be cashed out. Other reward systems do not help consumers since they involve too much spending or don't provide enough items to spend reward points on. 

 

Presently, no incentive system delivers users cryptocurrency along with the other benefits of lower merchant fees, no gas fees, reflections, and rewards utility, leaving a market gap for PIN Rewards. PIN tokens may be exchanged for cash, cryptocurrencies, or products or services in establishments that have accepted the PIN network, making the PIN rewards system more than a loyalty programme. By letting consumers select between products, services, and fiat, businesses implementing the PIN ecosystem could gain devoted customers. The table below gives a breakdown comparison.

 

 

 

Proposed Strategic Growth Plan 

 

 

Share Classes

 

Shares issued through this crowdfunding will be non-voting investor shares, ranking equally with all other existing non-voting investor shares and carrying the rights listed below. Takeoff Media Limited is what this share offer pertains to. Takeoff Media Limited is a holding company of Pay It Now NZ Limited. The shareholders have:

  • the right to an equal share in dividends and other distributions* made by Takeoff Media Limited (subject to the rights of any other class of share). 

 

Please refer to the company constitution and shareholders agreement for more information.\

 

Returns

 

Our capital allocation strategy is to reinvest into value-creating projects, thus dividends and other distributions are unlikely to be a part of our cash flow allocation strategy for the first 3 years.

 

Proposed Use Of Funds

  Amount Raised
Areas of proposed use $200,000 $2,000,000

Technology Development

  • URL (Gateway Payments, GURT)
  • Exchanges (Minting Costs, Exchange Listing Fees, CMC/CG)
  • App Development & Security (Data Encryption)
  • Maintenance/Updates
  • Future Value-Creating Projects (PIN Data, PIN-FT)

$20,000

(10%)

$400,000

(20%)

Sales & Marketing 

  • Web-Based Marketing
  • Offline Marketing
  • Sales Team Sundries (flyers, welcome packs)
  • PledgeMe campaign and equity raise fees.

$20,000

(10%)

$400,000

(20%)

Professional Services

  • Accounting & Legal

$72,000

(36%)

$300,000

(15%)

Growth Working Capital

  • Staff Wages
  • Equipment
  • Insurance (Trademarks/Patents/Contents/Data)
  • Running Costs (Utilities, Maintenance, Upgrades, Admin costs)

$88,000

(44%)

$900,000

(45%)

 

Share Offer - Summary

The shares offered are in Takeoff Media Ltd, an ultimate holding company of Pay It Now NZ Ltd.

 

This offer equates to a total stake of between 1.5% and 13.3% of the business at a pre-money valuation of NZD$13,000,000.

 

Takeoff Media could potentially capital raise again within the next 3-5 years which could lead to dilution. Please consult the company constitution and shareholders agreement for further information.

 

Capitalisation Tables

Pre-Raise Takeoff Media Ltd

 

Person

No. of Shares % Ownership
Jitendra Maharaj 5,200,000 40%
Anna Duffield 5,200,000 40%
Employment Shares Scheme 2,600,000 20%
Total 13,000,000 100%

 

Post-Raise Takeoff Media Ltd

If Minimum $200,000 is Raised

Person No. of Shares % Ownership
Jitendra Maharaj 4,870,000 36.9%
Anna Duffield 4,870,000 36.9%
Trenton Stanley 660,000 5.0%
Employment Shares Scheme 2,600,000 19.7%
New Investors 200,000 1.5%
Total 13,200,000 100%

 

If Maximum $2,000,000 is Raised

Person No. of Shares % Ownership
Jitendra Maharaj 4,825,000 32.2%
Anna Duffield 4,825,000 32.2%
Trenton Stanley 750,000 5.0%
Employment Shares Scheme 2,600,000 17.3%
New Investors
2,000,000 13.3%
Total 15,000,000 100%

 

 

Valuation

 

Valuation method

 

Our company valuation came as a result of a deep quantitative and qualitative analysis. We aimed to take a conservative approach, preferring to undervalue rather than overvalue the company.

 

Qualitative analysis

 

Information was researched and formed after consulting with several New Zealand Government entities to get a better understanding on how to valuate a company.

 

Comparative research was also undertaken to understand the valuation entry points of competing companies.

 

Quantitative analysis

 

To perform a quantitive valuation of our company, we used a Discounted Cash Flow model (DCF). 

  • We forecasted our financials 5 years into the future (2023-2027), ensuring to be on the conservative end with our assumptions. 
  • Forecasted Unlevered Free Cash Flow for years 2023-2027.
  • The discount rate used was the Weighted Average Cost of Capital (WACC)-WACC used was 17%
  • The net present value of 5yr Unlevered Free Cash Flow discounted to our WACC was then multiplied by a conservative-end terminal EBITDA multiple (3.0x) for both total Enterprise Value and total Equity Value.

 

The average was taken of all final values to give us our final valuation of approx. NZD$13m.

 

Pay It Now Team

 

Risks and Mitigations for Pay It Now

 

Blockchain technology is becoming more widely adopted globally, however, there is a lot of speculation when the topic turns to cryptocurrency. 

 

Cryptocurrencies are volatile assets that can rapidly change prices due to doubt caused by large organisations such as governments. While many cryptocurrencies add to the doubt about blockchain, many more have the potential to improve human life altogether. 

 

In order to reduce the doubt about cryptocurrency and any adverse effects that follow, PIN has become an official financial service provider. This gives potential onboarded businesses more confidence in the payment gateway. PIN has analysed the following risks as the most crucial:

 

Risk

Mitigation

 

Free crypto affecting price and liquidity: Rewards will be distributed in PIN tokens, resulting in tokens being sold for profit, affecting the liquidity pool and price.

 

 

Although this will be a daily occurrence, retailers will be staking tokens, increasing prices and decreasing supply. PIN will also be allocating part of the PIN Data subscription fee to the token's liquidity. In addition, an unbridging fee will be collected before the tokens are moved off layer-2, thus increasing PIN price by regular buybacks and rejuvenating the PIN Rewards network.

 

 

Volatility of the crypto market: Prices change rapidly daily and may hinder some businesses from adopting PIN payment.

 

 

To stop companies from selling goods below the price they wish, retailers will be able to cash out a digital version of the local currency. In the future, PIN aims to create a stablecoin that will further protect businesses in times of market volatility.

 

 

Dilution risk: Dilution may occur if Pay It Now decides to raise additional capital in the future, issue new shares to investors and give the option of grants to employees. 

 

 

Takeoff Media will position the company to minimise future capital raising by minimising expenditure, overheads and debt. while maximising revenue.

 

Government Regulation of Cryptocurrency: Increased government regulations come with increased financial costs as a risk to the company.

 

 

Current regulations for the cryptocurrency market are aimed at AML/CFT compliance, for which we are compliant. Takeoff Media plans to stay proactive in staying up-to-date with any upcoming regulation changes and reacting early to stay compliant.

 

Loss of Key Personnel: For Takeoff Media, our source code is highly secure with minimal staff access, to reduce cyber security threats. This creates a risk if there is a sudden loss of key personnel.

 

 

 

Takeoff Media has implemented several safety measures to allow for two forms of back up of the source code to mitigate this risk.

 

Warning Statement


This document has been prepared by Takeoff Media Limited. The purpose of this document is for information in relation to the Takeoff Media Limited share offer on PledgeMe. All efforts have been made to ensure the accuracy and reliability of the content as of the date of this document.

 

PledgeMe is licensed and regulated by the Financial Markets Authority, and the share offer made by Takeoff Media Limited will only be available for acceptance through the PledgeMe website.

 

Equity crowdfunding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of businesses is very speculative and carries high risks. You may lose your entire investment and must be in a position to bear this risk without undue hardship. New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision. The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

 

Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.

 

A note from PledgeMe

We have completed IQ Connect checks on Takeoff Media Ltd, and their Directors, as well as Google and Insolvency checks. There were no adverse findings.

 

Updates 3

Pay It Now is Growing!

18/08/2022 at 11:26 AM

It's been a busy couple of weeks!

We are growing daily as new PIN Merchants sign on and transact through our PIN Network. Over the last two weeks, the team have been flat-out bringing in new PIN Partners, finalising the PIN Marketplace and PIN Swap, and working towards our expansion to set up Pay It Now USA (Yes, you read that right). PIN USA is in the process of being set up and will be operational very soon.

Our PIN Marketplace will is very close to going live and available to the world. As a refresher, the PIN Marketplace is our online platform that offers PIN Merchants a medium to sell their products and services while customers pay with cryptocurrency. We are working on having the PIN Marketplace accept fiat currency and cryptocurrency in the future.

One of our recent PIN Merchants Partners is Mag & Turbo (New Lynn), who approached us to sign on to accept cryptocurrency payments.

Here are some of our established PIN Merchant Partners:

The Aussie Butcher (Auckland)

Shubh Indian Takeaways (Auckland)

Peter Timbs Butchery (Christchurch)

Ashby Cafe (Auckland)

Express Mart (Auckland)

The Portland Public House (Auckland)

Thirsty Liquor (Auckland)

Jax Burger Shack (Auckland)

Urban Mart (Christchurch)

Hukka (Christchurch)

We have over 85 PIN Partners, with more signing on every day. Our dedicated and passionate team are doing a fantastic job, along with all our supporters in getting Pay It Now established as a mainstream player in the payment provider market.

In other news, PIN Swap is close to being launched, our revolutionary crypto swap system without wallet connect.

We know it's been a while since our last update, but as you can now see, we've been busy, but we will endeavour to keep our supporters updated with any and all of our exciting upcoming ventures.

We ask all our supporters, our pledgers and even our fans to spread the word about our Pledge Me campaign and share it with your friends and whanau, and anyone you feel would not want to miss an opportunity to invest in Pay It Now.

Thank you once again 

Ka Kite 

The Pay It Now Team

 

Over a Quarter of the way there!

09/08/2022 at 4:10 PM

Woohoo, 25%!

We would like to take this opportunity to thank all our pledgers who have helped us get over the 25% mark of our minimum investment required! We are glad to have you be part of our Pay It Now journey.

We still have a wee way to go, so it would be fantastic and helpful if all our supporters could share our campaign with all your friends and networks to help us reach our goal and beyond.

An article on Pay It Now and our Pledge Me campaign has been published today in New Zealand Entrepreneur. Please check it out in the link below and share it around!

NZ Entrepreneur - Pay It Now

Once again, we thank you for your pledges, unending support, and Aroha.

Ka Kite

The Pay It Now Team.

Off to a good start!

03/08/2022 at 7:10 PM

Our Pledge Me campaign is off to a good start!

We thank our first investors and everyone who supports who we are and what we do at Pay It Now.

The road ahead is our journey, and our first investors have gotten us to nearly 20% of our minimum raise.

We need your help to spread the word around and share our campaign with anyone you know who would not want to miss out on an opportunity to invest in Pay It Now.

With your help and support, I know we can get to our minimum and beyond and help Pay It Now achieve its goals.

Thank you once again, and all the best!

The Pay It Now Team

P.S. An article about our Pay It Now crowdfunding campaign will be featured in the NZ Entrepreneur newsletter next week! Details to follow in the next update....

    Details

    Offer Details

    Current Valuation 13,000,000
    Raise Minimum 200,000
    Raise Maximum 2,000,000
    Share Price 1.00
    Minimum Pledge 250.00
    Maximum Shares Offered 2,000,000
    Explanation of valuation:

    We used a Discounted Cash Flow model (DCF) to value our company.

    We forecasted our financials 5 years into the future (2023-2027), ensuring to be on the conservative end with our assumptions.

    We forecasted Unlevered Free Cash Flow for the years 2023-2027.

    Used 5yr forecasted Unlevered Free Cash Flow to build Discounted Cash Flow (DCF) model.

    The discount rate used was the Weighted Average Cost of Capital (WACC)
    - WACC used was 17%

    The net present value of 5yr Unlevered Free Cash Flow discounted to our WACC was then multiplied by a conservative-end terminal EBITDA multiple (4.0x) for both total Enterprise Value and total Equity Value.

    The average of all final values was taken to give us our final valuation of approximately NZD$13M.

    The Financial Summary

    The Financial Summary assumes a capital raise of $2,000,000 NZD, allowing rapid global expansion. The global expansion rate is reduced proportionally if the total amount is not raised, reducing operational cost and loss/profit estimates.

    PIN Partner Growth Rate
    Assumes we achieve our goal growth rate of 50+ PIN Partners per month.

    % Crypto transactions
    Assumes a consistent average monthly turnover of PIN Partners
    Increase in crypto transaction volume of 0.125% MOM.

    AUS/UK/US expansion date assumptions
    Enter Aus market Sep 2022
    Enter USA & UK market Jan 2023

    PIN Data, PIN Swap, and PIN-FT are not included in the forecast.

    Financial Summary

    Prev Year Current Year Est. FY 2024 Est. FY 2025
    Revenue NZ $30,039 -NZ $282,255 NZ $2,711,725 NZ $7,799,349
    Operating Expenses NZ $204,242 NZ $1,963,554 NZ $4,110,730 NZ $5,722,754
    EBITDA -NZ $174,203 -NZ $2,245,809 -NZ $1,399,005 NZ $2,076,595
    Net Profit -NZ $174,203 -NZ $2,245,809 -NZ $1,399,005 NZ $2,076,595

    Company Details

    Company Name: Takeoff Media Limited

    Company Number: 9429050716579

    Company Documents

    Takeoff_Media___Pay_It_Now_-_information_memorandum.pdf

    (application/pdf, 5.46 MB, uploaded 28 July 2022)

    Shareholders_Agreement_-_Takeoff_Media.pdf

    (application/pdf, 10.9 MB, uploaded 28 July 2022)

    Pay_It_Now_NZ_CoyExtract_8128546_26July2022.pdf

    (application/pdf, 746 KB, uploaded 25 July 2022)

    Pay_It_Now_NZ_CertIncorporation_8128546_26July2022.pdf

    (application/pdf, 589 KB, uploaded 25 July 2022)

    Takeoff_Media_Ltd_CoyExtract_8128546_19July2022_Pay_It_Now_NZ.pdf

    (application/pdf, 392 KB, uploaded 24 July 2022)

    TakeoffMedia_Ltd_CertIncorporation_8426486_20July2022.pdf

    (application/pdf, 588 KB, uploaded 24 July 2022)

    Constitution_PIN_TMA_220722.pdf

    (application/pdf, 252 KB, uploaded 21 July 2022)

    Pay_It_Now_(PIN)_-_Balance_Sheet.pdf

    (application/pdf, 37.4 KB, uploaded 20 July 2022)

    Director Details

    Name Role Profile URL Invested?
    Craig Duffield Director https://www.linkedin.com/in/craig-d-b675651b7/http://
    Jitendra Maharaj Director https://www.linkedin.com/in/jitendra-maharaj-4049a2ab/

    Questions 6

    Ask a Question (You must login to ask a question)


    You obviously don’t know about the bitcoin lightning network.

    Posted on 10-08-2022 by James

    Hi James

    Thank you for your question. Yes, we are fully aware of the Lightning Network.

    We encourage you to research our PIN Network to see how we differ, in our view for better, from the Lightning Network.

    The most significant point of difference is Pay It Now (PIN) removes the volatility of the cryptocurrency market from the merchant to protect the price of the sale by instantly converting the transactions into local currency, which is then directly deposited in the merchant's bank account. This means the customer can use their cryptocurrency, and the merchant has the option to receive local currency or change their sales into a cryptocurrency of their choice.

    We created this system after extensive and thorough market research and scoping our potential customers. We found that most businesses are hesitant to accept cryptocurrency due to the volatility of the cryptocurrency market, lack of knowledge, and tax implications due to losses and gains. However, when we discussed receiving money directly into their bank account and how our system would create a new generation of customers for their stores, the majority had their concerns eased and they signed on to the PIN Network. Being the first business from New Zealand and in New Zealand gives our customers and clients added confidence in their decision to join our network, amongst other reasons such as gaining a whole new generation and range of paying customers.

    There are several other differences between the PIN Network and the Lightning Network, and you can find all this information at www.payitnow.io

    If you have any further questions, please do not hesitate to contact us.

    The Pay It Now Team

    Answered on 10-08-2022 by Craig Duffield


    Do you anticipate paying dividends? and if so when do you estimate starting paying dividends to shareholders?

    Posted on 09-08-2022 by Camia

    Hi Camia,

    Thank you for your question, we are currently in the growth phase of the business and are forecasted to turn profitable from FY2025. We estimate to be paying out dividends from FY2025 to our shareholders.
    If you'd like anymore information, please feel free to contact us via our website.

    Regards,
    The Pay It Now Team.

    Answered on 09-08-2022 by Craig Duffield


    A question from a layman: In the longterm, do you think that your platform can be merged with existing infrastructure such as credit cards etc and then leverage off eftpos machines and the likes? The app and tech are great but requiring a different infrastructure is a barrier for now. In the long run I'd love a passive way to pay with my crypto which would make it feel much more familiar (ie no phones, just tap and go on a credit card) or will this tech be forever based on live market values of crypto and the app is essential to establishing what things cost as you want to make purchases. Thanks

    Posted on 06-08-2022 by Brian

    Hi Brain

    What great questions these are, and thank you for asking them, as it promotes additional information sharing for aspects we have not talked about in our IM.

    Pay It Now (PIN) has integrated with two point of sales software providers (Pos Perfect and Salespoint) and is now in talks with two more. The integration was a relatively straightforward task for these providers because, apart from the UI design, their software only needs to hit our APIs. Their software systems talk with our PIN Network to generate a QR code for the user to scan to complete the transaction. Check out this link to see this in action https://fb.watch/eJCjFO2DJl/

    We are currently in talks with two EFTPOS providers in New Zealand about integration with their systems, which is an easy process to implement.

    Another piece of tech that has just been started at PIN is a Progressive Web App, so merchants can download our POS system on any computer allowing merchants to use the PIN system on their existing counter computer till system.

    We are looking at two options to create PIN NFC cards and a New Zealand-based credit card option. The only issue we see with credit cards is the additional fees because one of the PIN Network's points of difference is our super cheap merchant fees of 0.5%. Existing cryptocurrency credit cards charge around 2.9% and scalp the users with exchange fees.

    We also have POS PDA devices to lease to a merchant or purchase. This week we took delivery of an ATM which we are testing to see if we can implement the PIN Network.

    So as you can see, we plan to continue developing our tech to make it easier for merchants and users to use cryptocurrency in stores or online.

    Answered on 06-08-2022 by Craig Duffield


    Craig Duffield is one of the two company founders but he is not a shareholder. Why is that?

    Posted on 05-08-2022 by Cristian

    Hi Cristian, my wife Anna Duffield is one of the major shareholders of the company.

    Regards

    Craig Duffield

    Answered on 05-08-2022 by Craig Duffield


    What does a customer need to do to make their first purchase using PIN?

    Posted on 05-08-2022 by Terry Woods

    Hi Terry, Great question!
    The customer would need to download the PIN Network App and sign up as a PIN Personal User. If they have existing cryptocurrency in other wallets they can bridge them over to their PIN wallet or buy cryptocurrency from within the PIN App. The acceptable cryptocurrencies are listed on the PIN app and website. After the customer is set up, they are ready to make a payment from the "Payments" option, which allows them to scan the QR code generated on the Merchants device and the funds are instantly transferred from the User wallet to the Merchant wallet in local currency value, which would be NZD in NZ. The whole sign up process take just a few minutes for the user.
    The app can be downloaded from www.payitnow.network
    I hope this answers your query. Please feel free to contact us from our website for more information.
    Regards,
    The Pay It Now Team.

    Answered on 05-08-2022 by Craig Duffield


    Can you provide a simple description of what's involved to start accepting payments using PIN? eg install app, configure, etc. Are there sign up fees or monthly fees, or is it just a % transaction fee?

    Posted on 05-08-2022 by Terry Woods

    HI Terry,
    To sign up as a PIN business account user you can visit the website www.payitnow.network and click on the "Business" link. From there you can click "Apply now" which takes you to the business application online form. Once the details are filled in, we receive a notification and the staff set you up with a PIN Partner account on our network. We then immediately email you your Business ID and User Name. The business user then downloads the App and logs in the "Business" option with the ID and User name provided. They can set up their own password after the first login. Thats it! The business owner is now set up to transact on the PIN Network. They can now enter in a new transaction and generate a QR code for a PIN customer to scan and pay instantly.

    There are no sign up fees or monthly fees. a 0.5% per transaction fee is all the PIN Business user pays!

    I hope this answers your query. Please feel free to contact us via our website for more information.
    Regards,
    The Pay It Now Team.

    Answered on 05-08-2022 by Craig Duffield

    Pledgers 27

    Graeme Cassidy
    2022-08-13 01:57:39 +1200
    Tracy Bull
    2022-08-09 16:55:11 +1200

    "This is going to be exciting!! "

    Gagandeep
    2022-08-08 19:04:46 +1200

    "Great local team! Great Global Project! Lets simplify crypto payments!"

    Peter Darling
    2022-08-06 18:35:51 +1200
    Brian
    2022-08-06 16:01:16 +1200
    Gail
    2022-08-06 10:27:39 +1200
    travis wood
    2022-08-05 19:28:26 +1200
    Rocci Noynay
    2022-08-05 12:12:35 +1200

    "Good luck!"

    [email protected]
    2022-08-05 11:55:25 +1200

    "Good luck guys "

    Brian
    2022-08-05 10:50:18 +1200
    Margaret McAlpine
    2022-08-05 10:30:17 +1200
    David Williams
    2022-08-05 10:16:50 +1200

    "All the best with your funding"

    John H
    2022-08-05 09:46:24 +1200
    Garth Boyce
    2022-08-05 09:37:41 +1200
    Stephen Royds
    2022-08-05 09:21:02 +1200
    Ngara Marion Royds
    2022-08-05 09:16:04 +1200
    Reuben Sharples
    2022-08-04 11:56:16 +1200
    Matthew Westbrook
    2022-08-01 02:55:37 +1200
    Daniel Rawiri
    2022-07-31 20:34:33 +1200

    "Imagine investing in Paypal, Google or Amazon before they became what they are today. Well this is that opportunity!!!"

    Ben Rogers
    2022-07-31 12:35:58 +1200
    Eric McDonald
    2022-07-31 04:51:04 +1200

    "PIN ROCKS!!! McDClan"

    Shane healy
    2022-07-30 08:28:43 +1200
    Claire McGowan
    2022-07-30 03:30:38 +1200
    Helen I Smith
    2022-07-30 02:19:04 +1200
    Jon Dutton
    2022-07-29 23:45:07 +1200
    Greg Hunt
    2022-07-29 22:42:28 +1200
    Mr Jason A Osborn
    2022-07-29 19:59:41 +1200

    Takeoff Media Ltd (Pay It Now NZ)

    A Note From The Founders

    Pay It Now (PIN) was founded on a friendship between two former aviation colleagues. When Covid struck the world in 2019, we were made redundant from large International airlines. With both of us having a background in Cryptocurrency trading and mining, we discussed starting a business together.

     

    We realised there was a gap in the market for simple and secure cryptocurrency payments for store and website owners. We set out to fix some of the current issues in the cryptocurrency sectors; we saw that crypto was slow and expensive to use, making small purchases like buying a coffee unaffordable.

     

    To fix these problems, we created our own Layer 2 solution to allow our customers to complete transactions in less than a second without any expensive transaction fees, and the PIN Network was created.

     

    From there, additional products like PIN Payments, PIN Rewards, PIN-FT, and PIN Data have been gradually added to the PIN Network, which has allowed PIN to become one of New Zealand's leading blockchains companies. Now it is time to raise capital through PledgeMe to expand our products to the global markets and introduce PIN to the world.

     

    We are excited to have you on as a potential investor and part of the pioneering Pay It Now team. 

     

    Company Overview

    Takeoff Media Limited is the ultimate holding company, and 100% shareholder of its subsidiary: Pay It Now NZ

     

    Our product Pay It Now (PIN) is a payment, reward and data storage system that utilises blockchain technology to achieve instantaneous transactions with low fees and secure data storage that provides an alternative to traditional cloud storage.

     

    Our Mission

     

    To incorporate cryptocurrency services into the daily activities of businesses and customers by providing innovative, simple, secure, and rewarding services that increase the mass adoption of cryptocurrency through PIN’s unique payment, reward, and data solutions.

     

    Our Vision

     

    To increase accessibility and usability of blockchain for all age demographics on a global scale by being the go-to solution for payments, rewards, and data.

     

     

    Why Choose PIN, And Why Invest In Us?

     

    We believe PIN is novel because:

     

    It’s simple ​and secure​ PIN improves customer ​retention and engagement​
           
    PIN increases business​ revenue​ PIN reduces ​business costs​
           
    The time is right for a complete digital payment solution using blockchain technology We believe PIN is exciting and ​ innovative & appeals to ​Millennials and Gen-Z​
           

     

     

    Company Timeline

     

    Our Key Products & Services

       

    PIN Token is the native cryptocurrency to the PIN ecosystem.​ We created PIN on the Binance Smart Chain, which is an Ethereum compatible blockchain but developed with its own architecture and token management. PIN Token is a BEP20 token, currently tradable on PancakeSwap - with exchange listings soon to come.​

         

     

     

     

    PIN Swap has been designed as a system that no longer requires users to connect their crypto wallet and, with a simple click of a button, transfers your required crypto straight into your wallet through the interaction with our smart contract and back-end API.

     

     

     

     

     

     

    PIN Network App is a hub on which all PIN products can be accessed. Customers and merchants can find features such as PIN Payment, PIN Rewards, and PIN Wallet, enabling users to experience the fluid, unified PIN ecosystem.

     

     

     

     

     

     

    PIN Hosted Payment Gateway is a Layer 2 blockchain solution that innovates digital transactions. Transactions on the payment gateway eliminate gas fees and simultaneously provide a seamless, secure connection by using blockchain technology. In our view, PIN’s blockchain-propelled payment gateway is an innovative and sensible use case.

     

     

     

     

     

     

    Coming Soon...

     

     

     

    PIN-FT will be a non-fungible token (NFT) platform that allows users to trade NFTs. In addition, PIN-FT will be a gas-free minting solution (free minting fees) to mint NFTs on the PIN-Network. PIN-FT will be an ambitious charity-based project not yet attempted in blockchain technology.

       

     

     

     

     

     

     

    PIN Marketplace is currently being developed. It will be a unique online platform where merchants and consumers can transact using only cryptocurrency as means of payment. In addition, all PIN Merchants can sell their products and services on the PIN Marketplace to the global base of PIN users.

     

     

     

     

     

     

     

     

    PIN Data is a subscription-based system that securely stores data on the blockchain; PIN Data will introduce a new way to store customer information with ease. The future PIN utility is an innovation in data storage, utilising hashed-data, converted and securely stored on the blockchain.

     

     

     

     

     

    Sustainability

     

    During our research, we found several articles relating to the energy consumption of Bitcoin being very high globally, but compared to the other sources listed in the chart, the figures speak for themselves. 

     

    Pay It Now has further reduced energy consumption compared to Bitcoin. The PIN network system uses significantly less energy due to our proof of history consensus. Our servers use the equivalent power of a high-end gaming PC, which is around 1400 kWh per year*. 

     

     

    *McCook, H. (2021, May 4). A Comparison Of Bitcoin’s Environmental Impact With That Of Gold And Banking. Nasdaq.

    *Hayden, L. (2021, November 15). How Much Power Does a Gaming Computer Use? (Updated!). The WiredShopper. 

     

     

    Target Market

    PIN's target market is any business (Bricks & Mortar, online, or invoice generating business) that sells products and services.

     

    PIN Payments, PIN Rewards and PIN Data will each be applied to different businesses that adopt PIN, depending on their business operations. Any merchant selling a product or service can allow their customers to accumulate PIN through the reward system, which can be: 

    • exchanged for fiat, 
    • changed between different cryptocurrencies, or 
    • traded for goods or services in stores that have adopted the PIN network. 

     

    PIN Data will be aimed at companies with highly sensitive data, such as lawyers, accountants, doctor's surgeries, and hospitals; practically any business that stores client information.

     

    Market Size

    Payment services are a $1.6 trillion worldwide market*. Less than 1 percent of payments are done using crypto*. This is due to 'costly and sophisticated' options on the market that don't reduce bitcoin gas expenses (transaction fees).

     

    According to Statistics NZ, in 2021 there were over 562,520 active businesses registered in New Zealand. PIN is aiming to capture a minimum of 1% of those businesses.

     

    PIN expects huge demand from individuals who desire simple, safe transactions and bitcoin benefits for loyal customers. In addition, retail businesses, professional and trade services, and website owners employ PIN products to reward customers and secure data. With most stores allowing digital payments, PIN Payment and PIN Rewards may be readily implemented.

     

    27% of in-store sales* used a digital wallet. 41% and 46% of eCommerce and mobile commerce sales were made with a digital wallet. By 2025, digital wallets might account for $10 trillion in worldwide transactions.

     

    PIN incentives may be utilised at any store that accepts PIN Payment; thus, the system will expand in popularity as more companies implement it. Cloud data storage is valued at $76.6 billion. PIN Data has the potential to disrupt this sector by leveraging revolutionary cloud technologies, such as secure blockchain.

     

    Competitor Analysis 

     

    PIN Payment is a blockchain-based payment gateway that uses numerous digital currencies and could be compared to PayPal, Stripe, or Worldpay of cryptocurrency. 

     

    PIN Payment will attract shops by only charging 0.5% per transaction, which is significantly lower than PayPal at 3.5% + 30c per transaction, Stripe at 2.9% + 30c per transaction, and Worldpay at $38 for regular services and $92 for advanced services per month, for transactions. These alternative payment channels are expensive for merchants. Businesses will enjoy PIN Payments at much lower transaction fees when compared to the payment mentioned above channels.

     

    Current forum, website and instore reward systems do not allow owners to compensate loyal members for providing content and engaging in their community. For example, Fly Buys and Air Points, well-known in New Zealand, provide a choice of items and services in exchange for being loyal customers at hundreds of retail stores countrywide but do not allow those rewards to be cashed out. Other reward systems do not help consumers since they involve too much spending or don't provide enough items to spend reward points on. 

     

    Presently, no incentive system delivers users cryptocurrency along with the other benefits of lower merchant fees, no gas fees, reflections, and rewards utility, leaving a market gap for PIN Rewards. PIN tokens may be exchanged for cash, cryptocurrencies, or products or services in establishments that have accepted the PIN network, making the PIN rewards system more than a loyalty programme. By letting consumers select between products, services, and fiat, businesses implementing the PIN ecosystem could gain devoted customers. The table below gives a breakdown comparison.

     

     

     

    Proposed Strategic Growth Plan 

     

     

    Share Classes

     

    Shares issued through this crowdfunding will be non-voting investor shares, ranking equally with all other existing non-voting investor shares and carrying the rights listed below. Takeoff Media Limited is what this share offer pertains to. Takeoff Media Limited is a holding company of Pay It Now NZ Limited. The shareholders have:

    • the right to an equal share in dividends and other distributions* made by Takeoff Media Limited (subject to the rights of any other class of share). 

     

    Please refer to the company constitution and shareholders agreement for more information.\

     

    Returns

     

    Our capital allocation strategy is to reinvest into value-creating projects, thus dividends and other distributions are unlikely to be a part of our cash flow allocation strategy for the first 3 years.

     

    Proposed Use Of Funds

      Amount Raised
    Areas of proposed use $200,000 $2,000,000

    Technology Development

    • URL (Gateway Payments, GURT)
    • Exchanges (Minting Costs, Exchange Listing Fees, CMC/CG)
    • App Development & Security (Data Encryption)
    • Maintenance/Updates
    • Future Value-Creating Projects (PIN Data, PIN-FT)

    $20,000

    (10%)

    $400,000

    (20%)

    Sales & Marketing 

    • Web-Based Marketing
    • Offline Marketing
    • Sales Team Sundries (flyers, welcome packs)
    • PledgeMe campaign and equity raise fees.

    $20,000

    (10%)

    $400,000

    (20%)

    Professional Services

    • Accounting & Legal

    $72,000

    (36%)

    $300,000

    (15%)

    Growth Working Capital

    • Staff Wages
    • Equipment
    • Insurance (Trademarks/Patents/Contents/Data)
    • Running Costs (Utilities, Maintenance, Upgrades, Admin costs)

    $88,000

    (44%)

    $900,000

    (45%)

     

    Share Offer - Summary

    The shares offered are in Takeoff Media Ltd, an ultimate holding company of Pay It Now NZ Ltd.

     

    This offer equates to a total stake of between 1.5% and 13.3% of the business at a pre-money valuation of NZD$13,000,000.

     

    Takeoff Media could potentially capital raise again within the next 3-5 years which could lead to dilution. Please consult the company constitution and shareholders agreement for further information.

     

    Capitalisation Tables

    Pre-Raise Takeoff Media Ltd

     

    Person

    No. of Shares % Ownership
    Jitendra Maharaj 5,200,000 40%
    Anna Duffield 5,200,000 40%
    Employment Shares Scheme 2,600,000 20%
    Total 13,000,000 100%

     

    Post-Raise Takeoff Media Ltd

    If Minimum $200,000 is Raised

    Person No. of Shares % Ownership
    Jitendra Maharaj 4,870,000 36.9%
    Anna Duffield 4,870,000 36.9%
    Trenton Stanley 660,000 5.0%
    Employment Shares Scheme 2,600,000 19.7%
    New Investors 200,000 1.5%
    Total 13,200,000 100%

     

    If Maximum $2,000,000 is Raised

    Person No. of Shares % Ownership
    Jitendra Maharaj 4,825,000 32.2%
    Anna Duffield 4,825,000 32.2%
    Trenton Stanley 750,000 5.0%
    Employment Shares Scheme 2,600,000 17.3%
    New Investors
    2,000,000 13.3%
    Total 15,000,000 100%

     

     

    Valuation

     

    Valuation method

     

    Our company valuation came as a result of a deep quantitative and qualitative analysis. We aimed to take a conservative approach, preferring to undervalue rather than overvalue the company.

     

    Qualitative analysis

     

    Information was researched and formed after consulting with several New Zealand Government entities to get a better understanding on how to valuate a company.

     

    Comparative research was also undertaken to understand the valuation entry points of competing companies.

     

    Quantitative analysis

     

    To perform a quantitive valuation of our company, we used a Discounted Cash Flow model (DCF). 

    • We forecasted our financials 5 years into the future (2023-2027), ensuring to be on the conservative end with our assumptions. 
    • Forecasted Unlevered Free Cash Flow for years 2023-2027.
    • The discount rate used was the Weighted Average Cost of Capital (WACC)-WACC used was 17%
    • The net present value of 5yr Unlevered Free Cash Flow discounted to our WACC was then multiplied by a conservative-end terminal EBITDA multiple (3.0x) for both total Enterprise Value and total Equity Value.

     

    The average was taken of all final values to give us our final valuation of approx. NZD$13m.

     

    Pay It Now Team

     

    Risks and Mitigations for Pay It Now

     

    Blockchain technology is becoming more widely adopted globally, however, there is a lot of speculation when the topic turns to cryptocurrency. 

     

    Cryptocurrencies are volatile assets that can rapidly change prices due to doubt caused by large organisations such as governments. While many cryptocurrencies add to the doubt about blockchain, many more have the potential to improve human life altogether. 

     

    In order to reduce the doubt about cryptocurrency and any adverse effects that follow, PIN has become an official financial service provider. This gives potential onboarded businesses more confidence in the payment gateway. PIN has analysed the following risks as the most crucial:

     

    Risk

    Mitigation

     

    Free crypto affecting price and liquidity: Rewards will be distributed in PIN tokens, resulting in tokens being sold for profit, affecting the liquidity pool and price.

     

     

    Although this will be a daily occurrence, retailers will be staking tokens, increasing prices and decreasing supply. PIN will also be allocating part of the PIN Data subscription fee to the token's liquidity. In addition, an unbridging fee will be collected before the tokens are moved off layer-2, thus increasing PIN price by regular buybacks and rejuvenating the PIN Rewards network.

     

     

    Volatility of the crypto market: Prices change rapidly daily and may hinder some businesses from adopting PIN payment.

     

     

    To stop companies from selling goods below the price they wish, retailers will be able to cash out a digital version of the local currency. In the future, PIN aims to create a stablecoin that will further protect businesses in times of market volatility.

     

     

    Dilution risk: Dilution may occur if Pay It Now decides to raise additional capital in the future, issue new shares to investors and give the option of grants to employees. 

     

     

    Takeoff Media will position the company to minimise future capital raising by minimising expenditure, overheads and debt. while maximising revenue.

     

    Government Regulation of Cryptocurrency: Increased government regulations come with increased financial costs as a risk to the company.

     

     

    Current regulations for the cryptocurrency market are aimed at AML/CFT compliance, for which we are compliant. Takeoff Media plans to stay proactive in staying up-to-date with any upcoming regulation changes and reacting early to stay compliant.

     

    Loss of Key Personnel: For Takeoff Media, our source code is highly secure with minimal staff access, to reduce cyber security threats. This creates a risk if there is a sudden loss of key personnel.

     

     

     

    Takeoff Media has implemented several safety measures to allow for two forms of back up of the source code to mitigate this risk.

     

    Warning Statement


    This document has been prepared by Takeoff Media Limited. The purpose of this document is for information in relation to the Takeoff Media Limited share offer on PledgeMe. All efforts have been made to ensure the accuracy and reliability of the content as of the date of this document.

     

    PledgeMe is licensed and regulated by the Financial Markets Authority, and the share offer made by Takeoff Media Limited will only be available for acceptance through the PledgeMe website.

     

    Equity crowdfunding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of businesses is very speculative and carries high risks. You may lose your entire investment and must be in a position to bear this risk without undue hardship. New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision. The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

     

    Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.

     

    A note from PledgeMe

    We have completed IQ Connect checks on Takeoff Media Ltd, and their Directors, as well as Google and Insolvency checks. There were no adverse findings.

     

    Pay It Now is Growing!

    18/08/2022 at 11:26 AM

    It's been a busy couple of weeks!

    We are growing daily as new PIN Merchants sign on and transact through our PIN Network. Over the last two weeks, the team have been flat-out bringing in new PIN Partners, finalising the PIN Marketplace and PIN Swap, and working towards our expansion to set up Pay It Now USA (Yes, you read that right). PIN USA is in the process of being set up and will be operational very soon.

    Our PIN Marketplace will is very close to going live and available to the world. As a refresher, the PIN Marketplace is our online platform that offers PIN Merchants a medium to sell their products and services while customers pay with cryptocurrency. We are working on having the PIN Marketplace accept fiat currency and cryptocurrency in the future.

    One of our recent PIN Merchants Partners is Mag & Turbo (New Lynn), who approached us to sign on to accept cryptocurrency payments.

    Here are some of our established PIN Merchant Partners:

    The Aussie Butcher (Auckland)

    Shubh Indian Takeaways (Auckland)

    Peter Timbs Butchery (Christchurch)

    Ashby Cafe (Auckland)

    Express Mart (Auckland)

    The Portland Public House (Auckland)

    Thirsty Liquor (Auckland)

    Jax Burger Shack (Auckland)

    Urban Mart (Christchurch)

    Hukka (Christchurch)

    We have over 85 PIN Partners, with more signing on every day. Our dedicated and passionate team are doing a fantastic job, along with all our supporters in getting Pay It Now established as a mainstream player in the payment provider market.

    In other news, PIN Swap is close to being launched, our revolutionary crypto swap system without wallet connect.

    We know it's been a while since our last update, but as you can now see, we've been busy, but we will endeavour to keep our supporters updated with any and all of our exciting upcoming ventures.

    We ask all our supporters, our pledgers and even our fans to spread the word about our Pledge Me campaign and share it with your friends and whanau, and anyone you feel would not want to miss an opportunity to invest in Pay It Now.

    Thank you once again 

    Ka Kite 

    The Pay It Now Team

     

    Over a Quarter of the way there!

    09/08/2022 at 4:10 PM

    Woohoo, 25%!

    We would like to take this opportunity to thank all our pledgers who have helped us get over the 25% mark of our minimum investment required! We are glad to have you be part of our Pay It Now journey.

    We still have a wee way to go, so it would be fantastic and helpful if all our supporters could share our campaign with all your friends and networks to help us reach our goal and beyond.

    An article on Pay It Now and our Pledge Me campaign has been published today in New Zealand Entrepreneur. Please check it out in the link below and share it around!

    NZ Entrepreneur - Pay It Now

    Once again, we thank you for your pledges, unending support, and Aroha.

    Ka Kite

    The Pay It Now Team.

    Off to a good start!

    03/08/2022 at 7:10 PM

    Our Pledge Me campaign is off to a good start!

    We thank our first investors and everyone who supports who we are and what we do at Pay It Now.

    The road ahead is our journey, and our first investors have gotten us to nearly 20% of our minimum raise.

    We need your help to spread the word around and share our campaign with anyone you know who would not want to miss out on an opportunity to invest in Pay It Now.

    With your help and support, I know we can get to our minimum and beyond and help Pay It Now achieve its goals.

    Thank you once again, and all the best!

    The Pay It Now Team

    P.S. An article about our Pay It Now crowdfunding campaign will be featured in the NZ Entrepreneur newsletter next week! Details to follow in the next update....

      Offer Details

      Current Valuation 13,000,000
      Raise Minimum 200,000
      Raise Maximum 2,000,000
      Share Price 1.00
      Minimum Pledge 250.00
      Maximum Shares Offered 2,000,000
      Explanation of valuation:

      We used a Discounted Cash Flow model (DCF) to value our company.

      We forecasted our financials 5 years into the future (2023-2027), ensuring to be on the conservative end with our assumptions.

      We forecasted Unlevered Free Cash Flow for the years 2023-2027.

      Used 5yr forecasted Unlevered Free Cash Flow to build Discounted Cash Flow (DCF) model.

      The discount rate used was the Weighted Average Cost of Capital (WACC)
      - WACC used was 17%

      The net present value of 5yr Unlevered Free Cash Flow discounted to our WACC was then multiplied by a conservative-end terminal EBITDA multiple (4.0x) for both total Enterprise Value and total Equity Value.

      The average of all final values was taken to give us our final valuation of approximately NZD$13M.

      The Financial Summary

      The Financial Summary assumes a capital raise of $2,000,000 NZD, allowing rapid global expansion. The global expansion rate is reduced proportionally if the total amount is not raised, reducing operational cost and loss/profit estimates.

      PIN Partner Growth Rate
      Assumes we achieve our goal growth rate of 50+ PIN Partners per month.

      % Crypto transactions
      Assumes a consistent average monthly turnover of PIN Partners
      Increase in crypto transaction volume of 0.125% MOM.

      AUS/UK/US expansion date assumptions
      Enter Aus market Sep 2022
      Enter USA & UK market Jan 2023

      PIN Data, PIN Swap, and PIN-FT are not included in the forecast.

      Financial Summary

      Prev Year Current Year Est. FY 2024 Est. FY 2025
      Revenue NZ $30,039 -NZ $282,255 NZ $2,711,725 NZ $7,799,349
      Operating Expenses NZ $204,242 NZ $1,963,554 NZ $4,110,730 NZ $5,722,754
      EBITDA -NZ $174,203 -NZ $2,245,809 -NZ $1,399,005 NZ $2,076,595
      Net Profit -NZ $174,203 -NZ $2,245,809 -NZ $1,399,005 NZ $2,076,595

      Company Details

      Company Name: Takeoff Media Limited

      Company Number: 9429050716579

      Company Documents

      Takeoff_Media___Pay_It_Now_-_information_memorandum.pdf

      (application/pdf, 5.46 MB, uploaded 28 July 2022)

      Shareholders_Agreement_-_Takeoff_Media.pdf

      (application/pdf, 10.9 MB, uploaded 28 July 2022)

      Pay_It_Now_NZ_CoyExtract_8128546_26July2022.pdf

      (application/pdf, 746 KB, uploaded 25 July 2022)

      Pay_It_Now_NZ_CertIncorporation_8128546_26July2022.pdf

      (application/pdf, 589 KB, uploaded 25 July 2022)

      Takeoff_Media_Ltd_CoyExtract_8128546_19July2022_Pay_It_Now_NZ.pdf

      (application/pdf, 392 KB, uploaded 24 July 2022)

      TakeoffMedia_Ltd_CertIncorporation_8426486_20July2022.pdf

      (application/pdf, 588 KB, uploaded 24 July 2022)

      Constitution_PIN_TMA_220722.pdf

      (application/pdf, 252 KB, uploaded 21 July 2022)

      Pay_It_Now_(PIN)_-_Balance_Sheet.pdf

      (application/pdf, 37.4 KB, uploaded 20 July 2022)

      Director Details

      Name Role Profile URL Invested?
      Craig Duffield Director https://www.linkedin.com/in/craig-d-b675651b7/http://
      Jitendra Maharaj Director https://www.linkedin.com/in/jitendra-maharaj-4049a2ab/

      Ask a Question (You must login to ask a question)


      You obviously don’t know about the bitcoin lightning network.

      Posted on 10-08-2022 by James

      Hi James

      Thank you for your question. Yes, we are fully aware of the Lightning Network.

      We encourage you to research our PIN Network to see how we differ, in our view for better, from the Lightning Network.

      The most significant point of difference is Pay It Now (PIN) removes the volatility of the cryptocurrency market from the merchant to protect the price of the sale by instantly converting the transactions into local currency, which is then directly deposited in the merchant's bank account. This means the customer can use their cryptocurrency, and the merchant has the option to receive local currency or change their sales into a cryptocurrency of their choice.

      We created this system after extensive and thorough market research and scoping our potential customers. We found that most businesses are hesitant to accept cryptocurrency due to the volatility of the cryptocurrency market, lack of knowledge, and tax implications due to losses and gains. However, when we discussed receiving money directly into their bank account and how our system would create a new generation of customers for their stores, the majority had their concerns eased and they signed on to the PIN Network. Being the first business from New Zealand and in New Zealand gives our customers and clients added confidence in their decision to join our network, amongst other reasons such as gaining a whole new generation and range of paying customers.

      There are several other differences between the PIN Network and the Lightning Network, and you can find all this information at www.payitnow.io

      If you have any further questions, please do not hesitate to contact us.

      The Pay It Now Team

      Answered on 10-08-2022 by Craig Duffield


      Do you anticipate paying dividends? and if so when do you estimate starting paying dividends to shareholders?

      Posted on 09-08-2022 by Camia

      Hi Camia,

      Thank you for your question, we are currently in the growth phase of the business and are forecasted to turn profitable from FY2025. We estimate to be paying out dividends from FY2025 to our shareholders.
      If you'd like anymore information, please feel free to contact us via our website.

      Regards,
      The Pay It Now Team.

      Answered on 09-08-2022 by Craig Duffield


      A question from a layman: In the longterm, do you think that your platform can be merged with existing infrastructure such as credit cards etc and then leverage off eftpos machines and the likes? The app and tech are great but requiring a different infrastructure is a barrier for now. In the long run I'd love a passive way to pay with my crypto which would make it feel much more familiar (ie no phones, just tap and go on a credit card) or will this tech be forever based on live market values of crypto and the app is essential to establishing what things cost as you want to make purchases. Thanks

      Posted on 06-08-2022 by Brian

      Hi Brain

      What great questions these are, and thank you for asking them, as it promotes additional information sharing for aspects we have not talked about in our IM.

      Pay It Now (PIN) has integrated with two point of sales software providers (Pos Perfect and Salespoint) and is now in talks with two more. The integration was a relatively straightforward task for these providers because, apart from the UI design, their software only needs to hit our APIs. Their software systems talk with our PIN Network to generate a QR code for the user to scan to complete the transaction. Check out this link to see this in action https://fb.watch/eJCjFO2DJl/

      We are currently in talks with two EFTPOS providers in New Zealand about integration with their systems, which is an easy process to implement.

      Another piece of tech that has just been started at PIN is a Progressive Web App, so merchants can download our POS system on any computer allowing merchants to use the PIN system on their existing counter computer till system.

      We are looking at two options to create PIN NFC cards and a New Zealand-based credit card option. The only issue we see with credit cards is the additional fees because one of the PIN Network's points of difference is our super cheap merchant fees of 0.5%. Existing cryptocurrency credit cards charge around 2.9% and scalp the users with exchange fees.

      We also have POS PDA devices to lease to a merchant or purchase. This week we took delivery of an ATM which we are testing to see if we can implement the PIN Network.

      So as you can see, we plan to continue developing our tech to make it easier for merchants and users to use cryptocurrency in stores or online.

      Answered on 06-08-2022 by Craig Duffield


      Craig Duffield is one of the two company founders but he is not a shareholder. Why is that?

      Posted on 05-08-2022 by Cristian

      Hi Cristian, my wife Anna Duffield is one of the major shareholders of the company.

      Regards

      Craig Duffield

      Answered on 05-08-2022 by Craig Duffield


      What does a customer need to do to make their first purchase using PIN?

      Posted on 05-08-2022 by Terry Woods

      Hi Terry, Great question!
      The customer would need to download the PIN Network App and sign up as a PIN Personal User. If they have existing cryptocurrency in other wallets they can bridge them over to their PIN wallet or buy cryptocurrency from within the PIN App. The acceptable cryptocurrencies are listed on the PIN app and website. After the customer is set up, they are ready to make a payment from the "Payments" option, which allows them to scan the QR code generated on the Merchants device and the funds are instantly transferred from the User wallet to the Merchant wallet in local currency value, which would be NZD in NZ. The whole sign up process take just a few minutes for the user.
      The app can be downloaded from www.payitnow.network
      I hope this answers your query. Please feel free to contact us from our website for more information.
      Regards,
      The Pay It Now Team.

      Answered on 05-08-2022 by Craig Duffield


      Can you provide a simple description of what's involved to start accepting payments using PIN? eg install app, configure, etc. Are there sign up fees or monthly fees, or is it just a % transaction fee?

      Posted on 05-08-2022 by Terry Woods

      HI Terry,
      To sign up as a PIN business account user you can visit the website www.payitnow.network and click on the "Business" link. From there you can click "Apply now" which takes you to the business application online form. Once the details are filled in, we receive a notification and the staff set you up with a PIN Partner account on our network. We then immediately email you your Business ID and User Name. The business user then downloads the App and logs in the "Business" option with the ID and User name provided. They can set up their own password after the first login. Thats it! The business owner is now set up to transact on the PIN Network. They can now enter in a new transaction and generate a QR code for a PIN customer to scan and pay instantly.

      There are no sign up fees or monthly fees. a 0.5% per transaction fee is all the PIN Business user pays!

      I hope this answers your query. Please feel free to contact us via our website for more information.
      Regards,
      The Pay It Now Team.

      Answered on 05-08-2022 by Craig Duffield

      Graeme Cassidy
      2022-08-13 01:57:39 +1200
      Tracy Bull
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      Equity Offer

      From NZ $200,000 for 1.5%

      Up to NZ $2,000,000 for 13.3%

      Share Offer

      Up to 2,000,000 Shares

      at NZ $1.00 per Share

      Investor Perks

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      Shares In Takeoff Media Ltd

      NZ $250.00+

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      Pledge the following amounts to receive shares in Takeoff Media Ltd, and we will also give you a limited edition custom metal PIN Token with an engraved QR code on the back, which will allow you to scan for the corresponding quantity of cryptocurrency PIN Tokens on the PIN Network as listed below: - Pledge $10,000 and receive $1,000 worth of PIN Tokens - Pledge $25,000 and receive $3,000 worth of PIN Tokens - Pledge $50,000 and receive $6,000 worth of PIN Tokens - Pledge $100,000 and receive $12,000 worth of PIN Tokens

      Warning statement about equity crowdfunding

      Equity crowdfunding is risky.

      Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

      You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

      New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

      The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

      Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.