It looks like that Kodak is trying to make a comeback using his two new business enterprises. KODAKOne and Kodak kashMiner is the company’s version of the booming cryptocurrency. This news brought about a significant increase in the prices of the company stock for the once uncertain photo company. Kodak has teamed up with WENN Digital to develop a new brand which will bring the organization back to the market. KODAKOne is aiming at offering graphic artists with a platform which will keep them against copyright infringement. KODAKOne will approach the violators and ask for compensation for using the artist’ pictures without their consensus. This payment will be in terms of KODAKCoin, the company’s cryptocurrency.
As a way of introducing KODAKOne, Kodak company will establish an initial coin offering (ICO) to competent investors. Initially, the ICO was supposed to take place on January 32, 2018, but was not the case as the company was wading through the process of qualification to ensure that there is an applicable criterion for investors to meet to qualify.
Sahm Adrangi of Kerrisdale Capital Management was quick to pour cold water on the fire that Kodak had set. Sahm came up with a 22-page report highlighting some of the critical holes associated with Kodak’s new venture. According to Sahm Adrangi, the organization is just attempting to take advantage of cryptocurrency success, and many experts claim that the idea is not worthwhile. CNBC was the first to comment about the report arguing that this business idea was not the only common thing between Kodak and WENN Digital. These two companies have involved themselves in illegal financial transactions whereby the latest discrepancy of Kodak could attract SEC investigation. Sahm Adrangi goes ahead to say there the future of these two companies is not looking bright. Moreover, the plans that Kodak has for its resurrection may lead to disaster in the end.
Sahm Adrangi claims that the Kodak has fundamental as well as other problematic challenges that will keep bringing the company down despite its cryptocurrency strategy. Moreover, Sahm Adrangi’s report goes ahead to say that the direction of cryptocurrency does not help in solving the challenges that the company is facing.f