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.
$100,000 – $1,070,000
TEST needs to raise $100K before the deadline for the campaign to be successful. Maximum amount TEST will raise is $1.07M.
TEST needs to reach their minimum funding goal before the deadline for the campaign to be successful.
Token DPA (Late Stage with Escrow)
If this many years after issuance, the DPA has not been repaid with Tokens, it will be payable in cash with interest.
How the interest amount paid to you if the DPA is repaid in cash.
If TEST makes an early repayment in Tokens, the premium will be lower than if they make it later.
50% of net debt amount before 2 years
How much of your purchase amount you can redeem before the elective partial refund period ends, this is the amount of your investment kept in escrow.
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 about 12 hours ago
The market can authenticate goods and their quality better than government regulators who often suffer from regulatory capture.Benjamin NeusseInvested about 1 month ago
I am big fan of LabdoorMeadowlark BradsherInvested about 1 month ago
Labdoor has been a useful company for years and I support their continued growth, and the growth of their service.Kristopher ThomasInvested about 2 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 2 months ago
I have used the research, and i think there is a market for certified independent research into everyday use productsSalman SheikhInvested 2 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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