The closing of the acquisition is subject to satisfaction of certain conditions, including NCAP raising a minimum of $750,000 to fund the build out of the website, among other things. The letter of intent is non-binding, except as to confidentiality and similar non-transactional provisions.
The proposed business model will be that of Yellow Pages for the marijuana industry. The domains consist of Cannabis, Marijuana, Medical Marijuana, Hemp, Pot, Weed, Dispensaries, Directory's, Growers, Suppliers, Distributors, Market & Supermarkets, Stores, Shops, Shack, Hut, Bakery, Edibles, Snacks, Medical Marijuana Physicians, etc.
NCAP believes that the marijuana/cannabis/hemp industry is one of the fastest growing in the country and is expected to be a multi-billion industry over the next decade.
In addition, Northsight Capital, Inc., (NCAP OTCBB) announced an informal joint venture arrangement with the owner of TheAnonymousEmail.com to develop and promote, on a trial basis, the use of the anonymous emailing system by persons discussing, debating, or communicating about the marijuana space and wanting to be discrete. Individuals who prefer not to show any emails discussing marijuana on their home or work computers could be user the system. Emails sent using the The Anonymous Email technology are not sent with the users IP address. The system will be free to anyone wanting to subscribe.
According to INC, "the recreational marijuana business is in full bloom in Colorado. In just the first three months since marijuana was legalized, the state has raised $25 million from businesses for taxes, licenses, and fees, according to the Colorado Department of Revenue."
"Looking forward, Colorado Governor John Hickenlooper predicts combined sales from recreational and medical cannabis (which has been legal for 14 years) will reach $1 billion by 2015, with $134 million going to the state. These numbers make clear that the nascent industry is not some Cheech and Chong joke; it's a serious business with well-defined rules and laws.
"Meg Collins, the executive director of Colorado-based trade group Cannabis Business Alliance, says about 500 companies have launched around the recreational marijuana industry since the law changed in January, including growers, dispensaries, and tech firms providing seed-to-sale tracking software. "
Obviously the need for names and branding is huge and that's just one state!
Separately Domain Name Sales closing of Tokin.com was unrelated to pot, and was a simple truncation for the Global industrialist website Nec-Tokin.com/english.
Here are Your Domain Name Sales House (Name Administration) and Powerseller Sales for the Week Ending June 8, 2014:
Tokin.Com (Redirects To Http://Www.Nec-Tokin.Com/English/)
WeverDucre.Com (Truncate Wever-Ducre)
WorkFlowPro.Com (Schaffer) (redirect ProWorkflow.com)
*Kuboo, Inc., (OTC Pink: SGTB) dba Safe Communications, Inc. ("Safe"), and Northsight Capital, Inc. (OTCBB: NCAP) (OTCQB: NCAP), who announced recently that Northsight Capital ("NCAP"), Safe's 80% owned subsidiary, has signed a letter of intent to acquire approximately 7,000 domains, all in the marijuana/cannabis/hemp space. NCAP is expected to change its name to The Marijuana Advertising Group"* after completion of the transaction.