Latest News From CHRGR / March 2021
Thanks AGAIN to everyone who supported us thus far and please check out these CHRGR updates.
As previously mentioned COVID-19 has dramatically changed our business abilities to operate in a normal and consistent manner.
As you all know CHRGR is an advertising platform using power banks to market brands:
- Since April of 2020 brands are spending almost all marketing money on digital advertising specific to FB, IG, and Google, and not on platforms such as ours.
As you all know CHRGR relies on venues and events for clients to distribute products:
- Since April 2020 there are no IRL events, and venues have been closed due to the national lockdown
As you all know CHRGR relies on factories, warehouses and logistics for clients to receive customizable and printed products:
- Since May 2020 many of those USA facilities had been closed due to national lockdown
In response to those challenges CHRGR has pushed a roster of other ways to earn and pivot, with a strong and fully mapped out (strategy) to attempt DTC via Shopify, and then via Amazon w/ limited success after 5+ months.
That new product previously mentioned for DTC was The UV-C Phone Sanitizer & Wireless Charger. (Using UV-C light to clean your phone from germs, while also providing a 100% wireless charge.
With that experience, we learned that the Amazon marketplace was very crowded (for this particular category) and that the marketing and advertising purchase rates became too high for a sustainable (practical) overhead.
Additionally since 2020 CHRGR has reduced it’s workforce by 60% and has reduced all salaries by 40%
CHRGR had unsuccessfully applied for PPP loans in 2020 (after numerous attempts) with our own banks and a roster of capital services.
Additionally since April 2020 CHRGR has reduced its office overhead by 60% c/o WeWork.
As difficult as this has been for us we have continued to work hard on additional ongoing revenue efforts; and since April 2020 we have leveraged our supply chain network to broker buyer and seller demand of PPE and medical device products (globally). We continue to focus in this space as a means to generate income and essentially (keep the lights on). The sales pipeline is massive and the team’s hourly commitment to this endeavor remains in the 60hr-80hr range per week; however this (particular) industry remains a frenetic (commodities like) marketplace with a multitude of inconsistent business outcomes.
Nonetheless we continue to leverage our network and partnerships for additional ways to generate income for the business.
Until the pandemic is over, (when non-traditional marketing budgets return, with events and venues re-opened, and advertising begins to return to normal); the team is operating at a baseline level with a (wait and see) approach on the current CHRGR business model as well as exploration and ideation of new business models that could leverage CHRGR existing infrastructure for the “new reality”
FY21Q1 has started up again w/ a renewed contract with CNN and as more business returns we will let you know.
Our effort remains to keep burn to a minimum, and to continue to get creative with how we generate revenue and growth opportunities for CHRGR.
Thank you again for the continued support and your consideration,
John M Mullin
CEO and Founder