It was quite easy for Jack to be able to acquire the remaining one percent share of the company. As for the price, he simply paid according to the market price of the share.
It cost Jack just $7 million. Of course, the price of the share in the market was above the calculation that involved the net worth of the company.
With that finally out of the way, it was time to deal with other issues. Jack and Henry both went back to the Smith Manor. There, they began making plans on how to deal with the technology company.
For the time being, even though it was being referred to as a technology company, it was just like a wholesaler. It simply collected technology items from manufacturers, and sold them at a wholesale price.
Due to the connections that had been made with the manufacturers, it was able to dominate the market, even though not entirely. Still, they were some items that were being produced by this technology company by itself.
They included things like earphones and other earpiece items. They were not that popular, and had not managed to spread out of this city. So basically, the main operations of Harmony Technologies was to sell products, technological products.
Jack was a little speechless after going through the information about this company. He wondered how it had managed to reach this level, just from selling the products. But when he thought about the items that were being sold by this company, they were all quite expensive, and so, it was not impossible for it to have a net worth of $600 million.
"According to the plan, we should come up with a way of manufacturing our own products. That indicates that we will have to end the collaboration between us and some of the manufacturers. And, in most situations, we will end up being competitors." Henry spoke up after a moment of silence.
That was how it was going to be. Since they wanted to manufacture their own products, they would have to compete against many companies. Additionally, they would have to terminate several collaborations, leading to enmity, or damages.
"As of now, we don't really have that much money. We don't have the money to pay in order to break many of the agreements that have already been signed. So, we can only do things slowly." Jack responded.
The penalty of terminating a contract was not something small. Sometimes, even the amount might end up leading to the company going bankrupt.
Even though Jack had not yet got in the information about the collaborations that had been signed, together with the contract, which were currently being processed by Jared, he understood this concept quite well.
It was clear that unless he was willing to go at a great loss, it would be impossible for him to be able to terminate the contracts for the time being. The only thing that they could Do right now was to try and start the production of items that were not being sold by Harmony technologies, were being produced by Harmony technologies.
By production, it simply implied that they were going to purchase the items from Henry's system. The good thing was the fact that Henry's system was capable of customization, leading to the removal of anything that might lead to a copyright claim.
Additionally, there was a possibility of an improvement, as long as they were the ones that provided the idea. Well, they could simply borrow an idea from another product, and integrate it into something that they wanted to produce, and it would immediately change the way that the product was.
"But if we do this, we are definitely going to have to slow down the operations of the hotel. We cannot include high level items within the hotel for the time being. Otherwise, it will be quite difficult for us to be able to explain the source of the high technology items." Henry said.
"It won't be long. As long as we manage to sell quite a few things, it should not be impossible for us to be able to gather enough amount of money for us to be able to terminate the contracts for the items that are related to the hotel.
For the other products, we can simply go along with them for the time being, until the time that we don't need to do that anymore." Jack replied.
So, since the plan had already been made, it was time for them to start running the plan. They were not going to involve the company for the time being, but they would have to find a method of bringing in the items into the company, while avoiding suspicions.
"Currently, the price of all the products within my system is priced at the same price of the items in the real world. That means that even if we sell the items, we are only going to get back the money that we have spent." Henry suddenly said.
Before Jack could respond, he continued, "Additionally, the customization and the removal of anything that might lead to a copyright claim will lead to additional costs. Of course, people tend to go for cheaper products. For that reason, we can only price our items according to the market price, or just slightly higher. And this might lead to us suffering losses."
Jack could not help but look at Henry speechlessly. He said, "Are you forgetting something? You are forgetting about the fact that my system has a special function."
It was only when Jack mentioned those words that Henry finally remembered about this. He had actually almost forgotten about this. Well, his mind had been drifted from the original concept that had been explained by Jack, about his system.
The reason for the drift In his thought process about this concept was simply because Jack had managed to get a company from his system. So, Henry had almost forgotten about the fact that the basic function of Jack's system was multiply money, basically, income.
"Ah! That's right. Even if we decide to sell the products at a lower price by claiming that we are selling at a discount, we will still be able to make profit. And, it will be the type of profit that even the swindlers will not be able to dream of." Henry said as he slapped his forehead.
Jack could only shake his head at that. Instead, he focused on other matters. Currently, they had to make calculations about the price of the items, and what item was going to be sold within the market within the city.
They had to first try and avoid the one with the highest competition. If there was a product that was already dominating the market, unless they produced an item that was more efficient, it was impossible for them to be able to steal the market.
Additionally, even if they managed to do so, it was impossible for them to be able to convince people to purchase their product in just a very short time. After all, currently, they needed money urgently.
For that reason, they would have to go for the product that was not that popular in the market. Well, at least, the one that possessed several industries producing the same item, with the majority of the consumers not having decided on what was the best.
"Currently, earpieces are the ones that we can target. It is mainly because there is no brand that has dominated this market, making it being the reason why Harmony technologies even went ahead to try this out." Henry said as he went through the information on his phone.
That was actually true. Currently, other products such as phones, laptops, televisions and other items already had brands that were well known. It was not just within this city, but even within the country or in the world.
It was going to be difficult for them to be able to enter into that market. But they could still start with the small ones, like the one for the earpieces.
"Can you confirm the price of making the best earpiece, together with the customization, making it so that we don't have any copyright claim?" Jack suddenly asked.
"I already confirmed it. The price for the customization together with the best earpiece in the world is going to cost around $3,000." Henry responded.
Jack could not help but be left speechless once again. $3,000 for just earpieces? That was not something that ordinary people could afford. That implied that even if they took it to the market, it would only have a limited market.
"Try to look for something that ordinary people can afford." Jack corrected himself.
A little while later, Henry responded, "The price is at $20. This is after the customization. Though, its effectiveness cannot compare to the one that I mentioned before. It is the one that can be around as the top in the world in terms of efficiency."
"Then it is decided. We are going to start with this, the one that is valued at $20. Even though the price is quite high, but still, many people can still afford it. At least, it has the wider market as compared to the one for $3,000." Jack immediately decided.
Just then, Jack's phone vibrated slightly, accompanied by the sound of a notification. Jack checked out, and realized that it was an email. After opening the email, he confirmed that it had come from Jared. It possessed the information about the company, the contracts that it had signed and were effective till this day.