Black Bird Biotech Inc
Aside from its “EFT-Phone”, EFT distributes 25 nutritional products,
18 personal care products, an environmentally friendly automotive product, an
environmentally friendly house cleaner and a portable drinking container which
contains a filter to remove impurities.
EFT markets its products through a direct sales organization. Once a customer
of EFT’s makes a minimum purchase of $600 (plus $60 for shipping and handling
fees), the customer becomes an “Affiliate”.
The EFT-Phone consists of a cell phone which uses the Microsoft Operating System.
The EFT-Phone has an application that will allow EFT’s affiliate base
to access all of their back office sites including their Funds Management Account
where the affiliate will be able to deposit, withdraw and transfer money to
another EFT account or to another EFT Affiliate at no cost for the transfer.
The worldwide distribution and servicing rights to the EFT-Phone include the
right to sell the EFT-Phone to EFT’s affiliates and others. Servicing
includes the collection of service fees for all EFT-Phones worldwide, including
monthly fees, usage fees, as well as call forwarding, call waiting, text messaging
and video fees. The Company also acquired the rights to distribute all EFT-Phone
accessories.
In connection with the agreement between the Company and EFT:
· The former officers and directors of the Company resigned; and
· Jack Jie Qin was appointed as the Company’s sole director.
The Company did not receive any orders for the EFT phone during the year ended
December 31, 2017. The Company has been advised by EFT that due to a significant
drop in demand for the EFT phone, EFT has not placed any new orders with the
Company. It is the Company’s understanding that EFT has inventory previously
purchased from the Company and until sales increase, EFT will not be placing
any new orders from the Company.
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