Today’s Growth Consultant, Inc. (d/b/a the Income Store) purchased and built income-generating websites for investors in exchange for investments ranging from $50k to $500k. Beginning in 2009, the Income Store earned a place on the Inc 5000 list for growth in 6 out of 7 years. While producing operating revenues, the earnings were not substantial enough for the investors to be repaid as promised. The result was that older investors were being paid with funds derived from new investors. The SEC subsequently brought action against the company and the company’s assets were placed in a Receivership.
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World Champion Auctioneer Wayne Wheat and RightOfTheDot CEO Monte Cahn conducting a live auction. (Photo: Business Wire)
The remaining assets of the company include 3000+ domain names, which also include 200+ revenue generating websites, affiliate marketing accounts, trademarks, office furniture, and computers. The Income Store’s financial records from 2020 (while the Receiver was operating the company) indicate that the websites generated annual revenue in excess of $1,200,000. These websites and the Income Store’s other assets will be sold as a single lot in an online auction to take place at https://rotd.hibid.com on June 10, 2021, at 1:00 PM EDT. Minimum opening bid will be $2,500,000.
Interested parties will be required to sign a non-disclosure and non-affiliation agreement to participate. Once approved, interested parties will be provided “data room” access which will house the complete list of domain names, websites, as well as other financial and intellectual property information included in the auction sale. Any interested party who would like to participate as a bidder in the auction will be required to provide a $50,000 deposit, which will be held in escrow until the auction and refunded unless the bidder is the winning bidder. Additional information can be found at http://www.incomestorereceivership.com/.
About RightOfTheDot, LLC
Led by Domain Industry Pioneer Monte Cahn, RightOfTheDot is an accredited and licensed business & digital asset auction company, Internet consulting and advisement firm specializing in premium domain names, digital assets and NFT auctions, sales, brokerage in new and existing Top Level Domains and digital real estate. RightOfTheDot also specializes in Contention Resolution Services involving same or similar digital assets, board advisement, premium domain market positioning, sales and services. Monte was Founder and former CEO of Moniker.com, former President of SnapNames.com and former Sr. VP of DomainSponsor.com. Monte Cahn and RightOfTheDot have been involved in more than 1000 live and online auctions and $560 MM in domain names, digital real estate, and asset sales since 1995.