New management desperately trying to stave off bankruptcy.
DigitalTown (OTC: DGTW), a company that has tried many business models and owns a lot of domains under new top level domains, is hanging by a thread.
Last month the company named Sam Ciacco as the new CEO and former ICANN CFO Kevin Wilson as CFO. I’m surprised anyone would take these roles as there’s a lot to clean up, and the payoff isn’t clear to me.
Today, the company published a press release saying that it’s making “promising progress on clean up efforts.”
In the release, the company admits it doesn’t have a viable revenue generation model and its goal right now is to merely remain SEC-compliant. It is borrowing money to pay for services required to remain compliant.
Much of DigitalTown’s revenue in the past was generated by weird new top level domain deals in which it booked revenue as marketing payments from registries but then agreed to register a certain number of domain names.
The company is trying to convert as much debt as possible into equity. Common shares last traded for five-ten-thousandths of a penny.
I imagine Ciacco and Wilson have to convince creditors that there’s some future business plan possible, or just explain that without converting, their debt is likely to go unpaid and push the company into bankruptcy.
Rob Monster, current CEO of domain name registrar Epik, was the CEO of DigitalTown from 2015 until stepping down in September last year.
That is what happens when you fall for the new gTLD scam. Their market cap was $100 million + 5 years ago. Today it’s ZERO. Thanks for playing.
Good to see all those million dollar employees proved to be such a success. I could smell this one a while away, when the big guys get out, time to sell your shares. Sorry, for all the bag holders, Bill Kara was very strong on his statements, and it looks like he was right in his assessment, even though Rob Monster put up quite the counter fight. Poor shareholders.
Rob Monster is a clueless goof that’s been jumping from one PR stunt to the next for decades.
Maybe he can pray digital town back into existence …
Rob is very nice? Yea all thiefs are nice indeed. Thats his business model of stealing. I had two experiences with Rob and all the things Bill Kara says is true. I am just shocked how he can show up in community without ending up in jail.
He tried to steal me once when he was brokering my domain and the other was when he convinced me to build up a site on Physical.com domain with bs and bla bla like he did on digital town. You know what they say. Shame on me.:)
This site deleting comments is as pathetic as posting a title containing quotations.
Title out of context, as they choose to omit the ellipses preceding the smeared quote. This site is misrepresenting news to deceive you.
So should I rebrand my website from mos.city to something else???
NO!
What comments?
Comments I write on topic of particular posts. Say for example, the title. Read the press release DNN links to: https://www.prnewswire.com/news-releases/digitaltowns-new-management-makes-promising-progress-300863087.html then find where this Digitalown CEO ever says, “clean up efforts”. You wont, as he said, “…clean up the company…”
DNN choose to publish a quotation and link to the reference, and the reference proves DNN is misrepresenting truth.
I didn’t delete any comments on this post.
The press release states: “Following the announcement of a new CEO and a new CFO last month, DigitalTown (OTC: DGTW) shares its assessment and promising progress on clean up efforts.”
Next time you try quoting, at least use the full sentence or add ellipses! I see where there press release says what you’re trying to ‘report’ on though.
DNN loves letting off-topic shills such as Richard post spam to bash nTLD. http://www.digitaltown.com/ Doesn’t even resolve. Just another example of failed .com losers.
Is this Rob in disguise?
It’s not Rob, but I don’t know his angle. Maybe a shareholder.
Huh? Jay.. I didn’t post spam but made a true statement.
That company destroyed more than $100 million in shareholder value in the last 5 years. That is a sad fact.
Digitaltown.com does resolve, at least on my end..
DNN? Domain Name News hasn’t been active in quite a while, Jay. Are you referring to DNW?
Interesting that the website says the value of the company right now is that it’s a public company shell. Is that really worth all of this effort?
They paying people in BS stock so no real loss. Value is the debt/tax shield and backdoor yourself public with a ticker symbol change to a future company. Since Rob and company racked up nothing but debt I’d suspect a lot of losses there someone could use for future tax relief.
Yeah but you’d have to create a bunch of new equity or a new class to be worthwhile to the “new” owners, right? I mean, there’s got to be a less painful way to get a public company.
I think we can all agree Rob Monster is a festering pile of shit.
I don’t know what your experience has been but Rob has been very nice to me and I’m grateful.
And when you call someone a pile of shit you hurt yourself, in my opinion, more than you do them. I do it myself a lot and then remember it’s dumb.
So if someone’s nice to you, while attempts to scam an entire industry into investing into a scam you say what? Oh well golly he was nice to me!
Have some dignity and stand for something.
I haven’t seen any evidence that Rob did anything dishonest. Since you’re making an accusation why don’t you state the facts as you understand them or at least provide a link? Don’t you think it’s irresponsible to accuse someone of something without explaining why?
You’re a clueless idiot.
Too intellectual.
I think there was a very expensive trip overseas that had a lot of shareholders upset.
The early guys made off with 7 figure payouts, the new management was placed inside to hold the bag, and basically they knew that.
This company has now real business plan, or way to make money.
Yeah Jon your argument that he ‘was nice to you’ is a great one…
All you have to overlook is that he was pitching a business that by their own, finally public, admission has no business plan or revenue. ZERO. Zero now, zero six months ago and zero when Rob was being nice to you and everyone else that was dumb/desperate enough to listen.
If people didn’t speak out we’d have another Dicker type scandal on our hands but thankfully enough people called bullshit and Robs moved onto the next bs thing… forever domains or unstoppable domains… Lol….
Jon at some point you need to realize that all the while you were being told those friendly lies, a hand was very near you wallet and you were being played for a fool.
Look, dude, I simply don’ t know the facts of what happened with Digital Town, which I was never involved with. All I’m saying is if you’re going to criticize someone – and someone who’ve I’ve experienced to be a very nice guy – publicly, then back up what you’re saying with facts and not speculation or innuendo. There’s a big difference between trying to get people to invest in something you believe in, however erroneous that belief may be, and dishonestly trying to scam people. If you have evidence of the latter then kindly present it. If not, you might want to keep quiet before Rob sues you for libel.
I presented my thoughts in great detail many times, and as time has proven me correct in virtually all accounts.
You need to be liked too much. Stand for something. If you don’t know nothing that maybe it’s you that should shut it? I looked into the apps, they are fake, nothing works, is all a joke and I was proven right on all accounts.
You on the other hand should perhaps look into investing in Digital Town I’ve been told by Rob its the new digital wallet, airbnb, amazon search engine for blockchain! You need this 🙂
Where did you present your thoughts in great detail? It would be nice for you to provide a link instead of assuming that everyone who reaches this page has already been there.
How would you like it if somebody accused you of something without providing any details or link explaining why? When that happens to someone I like, I open my mouth.
I don’t know Rob all that well and don’t necessarily agree with his views or actions, nevertheless I very much doubt he has scammed people, as you claim, and think he has way too much class to treat anyone the way you have treated him here.
If you don’t know then why are you commenting?
It’s all out there. Go educate yourself.
Why should I go searching and probably end up having to comb through a 500-post NamePros thread to figure out if you’ve committed libel or not? I have better things to do with my time and I explained why I was commenting.
I wish you the best of luck.
Most “nice” guys have these traits, that how they get people to invest, by being nice. Doesn’t always make it a kosher scenario for all involved.
He might give you $8 domains, and I guess that makes him a nice guy to you. There is a bigger back story in play here, if you don’t know the facts, maybe take 7 minutes, and figure them out.
No, Rob had Epik make my company a loan – above and beyond their usual “domain loan” policies – which saved us from possible or likely disaster. The loan is interest free, except that the collateral domains have to be sold through the Epik Marketplace until it’s paid back, which has been generating some commission for Epik. I couldn’t find anyone else who would lend under the circumstances at the time and will always be grateful for what he did.
So I guess he was more than ‘just nice to you’ huh?
Another festering pile a shit…
You guys deserve each other.
Andrew, are you really going to allow such disrespectful behavior here? I imagine Bill has something of a drug or alcohol problem, with which I sympathize, but if this was my site I wouldn’t let him throw up on people.
P.S. I’m not suggesting that you delete Bill’s comments, only that you warn him (and “Bob” of “Monster Mash” fame) to express himself in a civil manner.
Freedom of speech is great but it needs to be balanced against freedom from verbal abuse and harassment.
It truly pains me to see The Monster suck more hapless victims into another one of his energy sucking Black Holes. ANOTHER one of his empty promises that only seem to work out for…….him! Shocker!!
And WHY would I call this latest version of the Monster Mash a scam??
It’s not hard, really it’s not. Think about it for more than a nanosecond. SO many of the sniveling sycophants in the domain space won’t dare raise or hand or call BULLSHIT!!
Why??!
Mostly because they don’t want to cause any conflict. God forbid that they should rock the sponsor/advertiser boat! Can’t have that, right?!
True and honest MEN like Bill Kara have the BALLS to call out a POS like The Monster! LISTEN UP!!
When a grown man that’s already been successful and has NOTHING to gain calls out a POS like The Monster – you MIGHT want to listen!
And no – I have NOTHING to gain from commenting. I just want all of you to know that when you see another SCAM like this rear it’s ugly head – SAY SOMETHING!!
Or – at the very least – SUPPORT an HONEST MAN like Bill and have the testicular fortitude to call……. BULLSHIT!!
And NO – I do NOT want or need prayers from you Monster Man! I am at peace with my God! Just go away and STOP hiding behind a false shield.
SHAME ON YOU Rob!! You have financially harmed enough people!! STOP devising bizarre schemes to get paid!!
And STOP pulling the ‘God’ card!! Be careful….She/He’s actually watching…..
ENOUGH!!
Pretty sure this was predicted a few years ago. They never had a business plan that made real world sense. Similar to how .xyz tried to reserve all of their 8 or 9 number extensions and have this be some type of blockchain.
Remaining a publicly-listed company has value to a profitable, acquiring company (would have to be structured as a “reverse merger” for it to make sense, however).
I guess their “Global Youth Ambassador Program” will be restructured as well?
Now DigitalTown.com is failing to report to the SEC on time.
They are diluting even more, so they might keep the scams alive. If you read though the reports, you’ll see they argue their dilution could segway into ‘DIVIDENDS’ (LOL).
How is Rob allowed to operate still? Why have so many domainers embraced this guy? You know he milked DT for everything in order to start what he has now – EPIK, right?
He’s a straight liar. His thugs send the most nasty letters out – you can’t imagine – to intimate you to SHUT UP. They blatantly deny their provable wrong doings while threatening you with the FBI, mental institutions, and so much more…disgusting.
How does he even have ACCREDITATION? These guys are destructive at the highest level:
EPIK sends main thug to ‘inquire’ about domain names. But that’s not the real reason. They are ‘befriending you’ to find DIRT. In other words, EPIK thugs are involved in SHILLING. YOUR domains are their tool for this!!! And they’re ACCREDITED!
More people need to speak up against all this BULL going on in domaining. These liars, thieves, scammers. They are EVERYWHERE.
Don’t let the SOB fool you. The man is EVIL.
Share price now .0001. Doesn’t get lower. Over 2b shares exist. EPS = -0.04 (that’s negative). Ravaged everything except their OWN paychecks. Who does that remind you of?