Almost six years after the the first report was delivered, the founders of the CRC Report have completed the spin-off of their pre-purchase HOA due diligence service into a stand-along enterprise. The new company, CID Analytics, Inc. (CIDA), was registered with the state of Delaware in June of 2017. The spin-off became official on December 1, 2017 with the execution of a Spin-Off & Capitalization Agreement that transferred all of the business assets related to the CRC Report to the new company.
The parent company, Capital Reserve Consultants, LLC received 8M shares of CIDA common stock and $100 in cash for the CRC Report assets which includes the hoadetective.com blog, the company’s existing website crcreport.com; logos, branding and marketing materials and other intellectual property (IP). Among the other assets that were transferred to CIDA as a result of the spin-off is a new cidanalytics.com website that has been under development since the summer of 2017.
The new CIDA website, which is tentatively scheduled for launch in late January, will include an enhanced order platform that integrates a new document transfer protocol into the website which is designed to simplify the process of transferring the documents required to conduct the due diligence examination to CIDA.
In conjunction with the spin-off CIDA has launched a fundraising campaign in an effort to raise $2M in seed stage funding from accredited investors. The funding will be used to develop a proprietary software product that will generate the CIDA Report in addition to being a database for the HOA data that is used to generate the CIDA Report. Once the software has been developed CIDA plans to begin marketing of the CIDA Report service in selected cities around the country as part of a test-marketing campaign that will be developed with the help of Cincinnati, OH-based marketing and brand-building consultant, Hyper-quake.
Since the spin-off business has remained brisk with 12 paid orders received during the month of December and an additional 7 orders received during the first 12 days of January. For more information about the investment opportunity being offered by CIDA accredited investors may call 800-218-0302.