Media Info Interview With Michael Scheibe

Entrepreneur Michael Scheibe’s successful balance sheet after 100 days COOINX S.A.

We talked to Michael Scheibe (57), father of three, self-made entrepreneur and multi-millionaire from Germany, resident of Switzerland, with business headquarters in Luxembourg, about his “youngest baby” COOINX S.A., about his global vision of giving a boost to the starving retail sector… about the reasons for misconceptions about an upcoming ICO (Initial Coin Offering)… about the motivation and incentives behind his multicultural, international sales team and about his very personal mission.

Free e-business for 1 million retailers changes the quality of life in Europe

Mr. Scheibe, you are the founder and CEO of the Luxembourg-based COOINX S.A. that we are hearing and reading a lot about. What exactly does COOINX do?

MS: “Put simply, we see ourselves as a modern, internationally-operating marketing company that markets innovative and effective online retail digitalization products.”

Could you elaborate on this for our readers?

MS: “Of course… In Germany alone, online trade accounts for about 60 billion Euros in sales, and the trend continues to rise. Money that drains out from the over-the-counter retail sector – which contributes to the desertification of the inner cities – more and more limits people’s quality of life… Because, for example, bakers, barbers and butchers in the city centres throw in the towel. In this respect, we also see ourselves as a problem solver, as a business future-booster of the retail sector. At least in Europe! With our products, we are taking retail into the digital age. Each conventional retailer affiliated with us receives its own m- and e-commerce.”

Which products do you offer?

MS: “A so-called ‘retail digitization product’ from COOINX connects the retailer, and the MDT package can be seen as an ‘all-round carefree package’ with a multitude of services for the retailer. This product is at the core of sales activities, currently valued at 890 Euros. It is joined by another online tool which, for a one-time payment of 99 Euros and then 39 Euros p.a. represents the retail partner’s back office.”

And how do your retail partners benefit?

MS: “By marketing this shopping cart, our retail partners can benefit from a wide range of royalties based on our marketing plan. This was developed according to the partners’ needs, and includes eleven different income opportunities from one-off to permanent salary and it has already proven to be a unique sales catalyst in the marketplace. And then, as an incentive, as a gift, there is the participation in a forthcoming ICO in the fourth quarter…”

…This is exactly where there is a need for communication. There are comments online that say COOINX wants to implement this ICO (Initial Coin Offering) without an existing license. Is there anything in that? Has the financial regulator intervened?

MS: “Unfortunately, in today’s times, a third party-initiated miscommunication can no longer be prevented. I also don’t want to react to all the envious lunatics who hide behind nicknames and the anonymity of the Internet, writing nonsense. The fact is: from my own private coffers, I have reserved 100 million weeTokens for COOINX’s retail partners. On achieving the relevant targets in the retail partner’s career plan, these can be issued as a gift. Believe me – in terms of motivation, this is currently a mega-burner. I secured this deal with euroequity in the seven-digit range. And as for the ICO that is coming up? This makes my network a partnership-affiliated company.”

Furthermore, some forums mention overlapping interfaces between the Swiss cashback provider “wee” and COOINX. What’s the story there?

MS: “That sounds a bit off the wall! There are no cross holdings, nor is there any possibility of personal overlaps. Everything is clearly set out in the contract! For our business partner, we are an important distributor with in-house developed products, which we distribute exclusively in order to sustainably stimulate the “wee” marketplace. Specifically: As a retail partner, we lay the groundwork for the implementation of the market entry and market penetration of the innovative cashback system “wee”. Motto: Collect money instead of points.”

At the COOINX convention, you presented the project to 4,000 invited guests from all over the world. 100 days have passed since the project started. How does your first balance sheet look?

MS: “I’m just overjoyed! We set ourselves quite ambitious goals, which have been smashed as things stand today. This relates to the international team of retail partners from 21 countries in Europe, the Caribbean and South America, to the sales generated, to our reputation in the industry, to the positive chemistry in working with our key business partner. For 2019, I plan a COOINX convention with at least 8,000 retail partners and 20,000 guests. I’m really looking forward to it.”

Why put the pedal to the metal like that? Do you really need to?

MS: “My wife and three children have copyright on those two questions… But seriously – in terms of material security and potential quality of life, I’m free of any constraints. About 10 years ago, I retired quite happily from the real estate industry, having generated the best part of one billion in revenue for the company. But I think the eureka-effect doesn’t happen that often in life. The vision behind “wee”, and having inspiring conversations with great people, is daily motivation for me to be involved in something really big. In the planning phase for founding COOINX, and now in the operational implementation of our strategy, I have run-up at least 100,000 air miles. It’s not always fun – it’s also about commitment and a sense of responsibility.”

Where do you see yourself in 5 years?

MS: “In my private life, hopefully as a fit and healthy Elder Statesman, who often goes on vacation with his wife and healthy children – maybe even grandchildren – or who gets to use his neglected boating license again on Lake Constance. And of course, I’ll get back into my racing hobby again. Being a bit of a motorhead, the two BMW-i8s in the garage are attracting my attention! [Laughs] In business, I mostly see myself as a consultant in exciting startup tasks for a while – coupled with being a committee member in a non-profit foundation such as the weeCharity.”

Thank you for the chat. We wish you and COOINX good luck and success in the implementation of your ambitious goals.

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