The Tom Woods Show #1198: TEST — A Market Alternative to the FDA
In popular discourse, consumer safety is one of the most frequently cited reasons for government oversight. Neil Thanedar, my guest today...
There were 456 food recalls in the U.S. last year.
Counterfeit goods are a $461 billion global industry.
Consumers can’t answer key questions about product quality.
The TEST Registry is a curated list of products that meet quality standards. Products that join this registry and pass TEST analyses are "TEST Certified".
TEST holders stake a deposit of TEST tokens to apply a product to the TEST Registry. Staking a deposit begins the application period, where other TEST holders can challenge an applicant that they believe is not up to the standards of the registry or fraudulent. Product challenges are won or lost based on scientific testing performed by a TEST-registered laboratory.
Consistently high quality products will be rewarded with increased sales and brand trust.
A decentralized network of labs ensures that test results are unbiased and reproducable.
Token holders self-regulate the TEST registry through an open, transparent challenge process.
Consumer applications for TEST will not require token ownership, simplifying adoption.
Centralization in the testing laboratories industry has made it difficult for smaller labs to earn new customers. There are over 16,000 testing laboratories in the world, generating over $78 billion in annual revenues; however, just 10 companies (average age = 112 years old) control over 40% of the global market share. By incentivizing laboratories to join the lab registry and publicly share their testing data with the product registry, TEST will increase transparency and promote more independent testing.
TEST can incentivize public quality control in the largely unregulated supplements market.
TEST can proactively regulate food quality and reduce the risk of recalls through public testing.
TEST can help producers fight fraud by equipping consumers with tools to verify product authenticity.
TEST can be the first public source of cannabis testing data powering applications across all borders.
Labdoor is the first of many data providers and application developers for the TEST network, providing immediate utility to early adopters.
Investors do not receive any equity interest or ownership in TEST Foundation or any of its affiliates. Repayment obligations are set forth in and limited to the terms of the DPA Agreement. Key repayment terms are listed below but are qualified entirely by the terms of the DPA Agreement.
Please carefully review the entire DPA for complete terms, as well as the risk factors set forth in the "Risk" section down below. Also, do not hesitate to ask for clarification using the discussion box at the bottom of this offering page.
JOIN THE TEST NETWORK
The smallest investment amount that TEST is accepting.
$100,000 – $1,070,000
TEST needs to raise
before the deadline. The maximum amount TEST is willing
to raise is $1.07M.
TEST needs to reach their minimum funding goal before the deadline.
If they don’t, all investments will be refunded.
Token DPA (Late Stage with Escrow)
If the campaign is successful, you’ll receive a Token DPA for your investment.
The DPA is not equity or a token itself, but a loan that payable in tokens in
the future, with interest.
If the campaign is successful, you’ll receive a Token DPA for your investment. The DPA is not equity or a token itself, but a loan that payable in tokens in the future, with interest.
The amount of time TEST has to pay out your investment in tokens.
If the DPA isn't repaid with tokens after that time, it will be payable in cash
The interest amount that will accumulate on your investment
if it’s paid back to you in cash.
The interest amount that will accumulate on
your investment if it’s paid back to you in tokens.
50% of net debt amount before 2 years
How much you can get back of your investment if you choose to cancel
the Token DPA before it’s paid back.
TEST Foundation will manage protocol governance for the TEST protocol and registries, including parameter settings and testing standards. TEST Foundation will also enlist a decentralized network of laboratories to join the lab registry and perform work for the product registry.
I believe Smart Contract based Block Chain will become one of the biggest technology disrupters alongside cryptocurrencies.david mckeeInvested 3 months ago
The market can authenticate goods and their quality better than government regulators who often suffer from regulatory capture.Benjamin NeusseInvested 5 months ago
I am big fan of LabdoorMeadowlark BradsherInvested 5 months ago
Labdoor has been a useful company for years and I support their continued growth, and the growth of their service.Kristopher ThomasInvested 5 months ago
I am a consumer, a practitioner and I work in R&D for a supplement company. I'm excited to this project grow.Maija MerchantInvested 6 months ago
I have used the research, and i think there is a market for certified independent research into everyday use productsSalman SheikhInvested 6 months ago
Investors should verify any issuer information they consider important before making an investment.
Investments in private companies are particularly risky and may result in total loss of invested capital. Past performance of a security or a company does not guarantee future results or returns. Only investors who understand the risks of early stage investment and who meet the Republic's investment criteria may invest.
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