marijuana.com in the news ... so comical and so sad :(

[A D]

To be honest the first time he appeared saying he had a 1 million dollar offer I thought he was nuts. It is true, most people can't spell marajuana.

Truly, I don't value this domain at even 100K.

-=DCG=-

 

[dvdrip]

I own pot.info. Any addict interested?

 

[Dr. Domaining]

If he does sell it for $10 million or even $2 million he will be laughing all the way to the bank. You can not blame him for trying and with every big time sale it only brings the value of other premium domains up.

 

[maximux1]

The domain Marijuana.Com is no longer for sale.

A sale agreement has been reached with a private party and a deposit has been made. Global Sativa Corp. is no longer accepting offers to purchase the TLD.

The final sale price was $1,000,000.00 U.S. for TLD Marijuana.Com and site content.

Many thanks to those of assistance.

Kindly,
GSC

 

[Mr. Deleted]

Wow let me be the first to congratulate you on this week's #1 sale!

I personaly think you got a lot for it but if it earns a revenue then it is worth it I guess. I think of it this way, if they can pay for it in 3 years, then it is a good price.

 

[Dr. Domaining]

Yes, very nice sale!

 

[Domagon]

Glad it worked out ...

Some comments / tips ...

You speak of a "deposit" ... you mean they deposited the $1 Million into an escrow? ... if so, the transaction is basically complete ... congrats

-or did they only paid a portion now? If so, be careful! Folks who do 7-figure domain deals generally pay straight away, and want to get the deal done.

Anyways, make sure you're doing the transaction via a *legitimate* escrow service (ie. escrow.com, greatdomains.com, or maybe Sedo.com - alternatively have a trusted party, such as an attorney, hold the funds; be careful if going the attorney route) before transfering the domain ... yes, I'm sure you know / doing that, but there have been cases of folks selling high profile domains being scammed, and having limited legal recource.

From an accounting aspect, assuming you still have a partner ... $1 Million / 2 = $500K less taxes ... ok, like no kidding...

However, the tax part is where things get more complicated and is often a detail overlooked ... how you structure/report the sale could be the difference of paying taxes of less than $75K to over $200K on a $500K portion.

To be clear, the sale is a winner, but be aware of how it's accounted for ... ie. your company books it as a long-term gain and you then take the bulk of the proceeds as a distribution ... and/or the company could choose to buy some other stuff (real estate, domains, etc) to reduce taxable income ... many ways of reducing tax liability - key is to research the options now so you're not surprised later on ... difference could easily be in the $100s of K!

Again, congrats

Ron

p.s. curious as what kind of company bought it ... PPC traffic broker, porn entertainment, cannabis related, government, etc ...?

 

[Mr. Deleted]

A sale agreement has been reached with a private party...

It sounds like the buys would like to remain unknown.

Rick can explain more, but I talked to him on PM and I don't want to reveal anything that the parties wish to keep secret.

 

[maximux1]

-or did they only paid a portion now? If so, be careful! Folks who do 7-figure domain deals generally pay straight away, and want to get the deal done.

I would agree, generally.

Anyways, make sure you're doing the transaction via a *legitimate* escrow service (ie. escrow.com, greatdomains.com, or maybe Sedo.com - alternatively have a trusted party, such as an attorney, hold the funds; be careful if going the attorney route) before transfering the domain ... yes, I'm sure you know / doing that, but there have been cases of folks selling high profile domains being scammed, and having limited legal recource.

Global Sativa Corp. will remain in contol of the domain registration until full payment has been made. Lawyer fees and escrow fees are a great way to double your losses. Very similar to purchasing insurance on a blackjack hand Im confident that there will be no problems with the financial transaction.

From an accounting aspect, assuming you still have a partner ... $1 Million / 2 = $500K less taxes ... ok, like no kidding...

However, the tax part is where things get more complicated and is often a detail overlooked ... how you structure/report the sale could be the difference of paying taxes of less than $75K to over $200K on a $500K portion.

So true, Ron. My partner and I have spoken with our corporate CPA and he has advised us on the tax issue we will have to face. As an S-corp most of our gains flow through as dividends. We're still working out the details but, your advice sounds solid from what I have learned.

To be clear, the sale is a winner, but be aware of how it's accounted for ... ie. your company books it as a long-term gain and you then take the bulk of the proceeds as a distribution ... and/or the company could choose to buy some other stuff (real estate, domains, etc) to reduce taxable income ... many ways of reducing tax liability - key is to research the options now so you're not surprised later on ... difference could easily be in the $100s of K!

Again, congrats

Thanks Ron, I appreciate that. As I mentioned, we are still working on the tax liabilities. I think I am in pretty good hands there, though. We'll most likely be keeping the Corp and continuing to work on defeating the Prohibition of Marijuana with other domains owned.

p.s. curious as what kind of company bought it ... PPC traffic broker, porn entertainment, cannabis related, government, etc ...?

[/quote]

Unfortunately, the details of the sale are private as requested by the purchasing party. If I had to broadly categorize it, I would say PPC Broker.

Thanks for your comments, Ron. I appreciate the advice.

Kindly,
Rick

 

[Domagon]

Rick-

Firstly, thank you for taking the time to write a detailed response.

You don't have all the funds yet ... sounds as if you're counting your chickens before they've hatched...

If they should back out of the deal for some reason, do *not* automatically assume you get to keep their entire deposit, if any of it. Sales that go bad are generally costly for both parties ...

To save a little money by not using escrow and/or attorney is not wise...

Consider having the buyer pay the entire fee or at least split it; there are numerous ways to get the cost down - escrow protects the seller to some extent even when the seller still has control of the asset; strongly encourages the buyer to make full payment and complete the deal in a timely manner.

In regards to the accounting, it appears you're "golden" ... you should do fine

PPC broker, broadly speaking of course, is what I figured ...

Again, good luck with the sale

Ron

 

[maximux1]

Actually, what I have is a "Sale Agreement" as I stated in my post above. That is, we have agreed to terms and have taken a sizeable down payment to remove the domain from the market.

You're probably right about the chickens. However, I dont believe so.

Our lawyer believes we are on sound legal ground. You know I wouldnt attempt these contracts without a lawyer do you?

Thanks again for the advice.

Rick

 

[Mr. Deleted]

I made a mistake once when I got a 30K offer for Deleted.com and told everyone on the forums about it, and the deal fell through. But if you still have control of the name and a contract to the sale, then if there is a legal challange then all is well. I think he will do fine.

 

[Domagon]

There is no such thing as "solid" ground when it comes to the law ... it's more like being on jello ... attorneys always "believe" this and that ... I personally only "believe" when I have *all* the cash

If it's strictly a Sales Agreement only... and has no "right of refusal", lock-up periods, etc provisions in there, then the sale will likely work out, especially if they've made a deposit upfront of at least $250K or more.

Ron

 

[jberryhill]

If anyone here is even thinking of paying anywhere near $8 Million for it, contact me asap regarding a related high-traffic domain I have.

yeah, sure you do Ron. Folks, I bought a domain name from Ron, and it was mostly stems and seeds.

 

[Domagon]

(deleted / edited some portions due to misunderstanding; it was late when I replied ...)

Anyways, this domain below is a lot more than "stems and seeds"

CANNABIS.COM
http://www.cannabis.com/

And my company owns most common misspellings of the domain as well ... around 10K to 20K+ daily unique visitors ...

Ron

 

[maximux1]

I dont think any harm was done, or intended, Ron.

Cannabis.Com is a fine name. Not as globally common a term as the slang Marijuana but very valuable none the less. Cannabis.com, I would love to own it. Hell, I'd love to manage it for that matter - but thats an entirely new conversation.

I noticed MSN released their new search engine today, lots of hype. Marijuana.Com has 5 of 10 front page listings under the 50 Most Searched Term, "Marijuana". Also, if you do a quick check of Yahoo, aol and google, you will find more of the same.

I have a poll running on the front of www.marijuana.com, has been for about a week. It asks how you found Marijuana.Com? Most common answer, over 50% Typed it in, second, Search engine - over 30%. Indexing is important, but not NEARLY as important as name recognician. BTW, there appear to be some very poor spellers among us. Fortunately those seekeing out www.MARIJUANA.com have not had such a hard time,

Ron, PM me if you have interest in working together.

Kindly,
Rick

 

[Mr. Deleted]

http://beta.search.msn.com/results.aspx?FORM=MSNH&srch_type=0&q=CANNABIS

in that search, CANNABIS.com is #1

http://beta.search.msn.com/results.aspx?FORM=MSNH&srch_type=0&q=Marijuana

in that search, Marijuana.com is #1

Yes it would be good for these related sites to work together. I don't know how much each keyword is searched, but they are both good keywords.

 

[jberryhill]

If your post was trying to be funny, it certainly doesn't across that way

Golly Ron, you've known me since at least as far back as the old Netsol policy list if not further, and you know my weakness for topical humor. If you still have that archive, grep it for "darby".

Now, we have someone here who is selling "marijuana", and some discussion about the quality of his "marijuana" as opposed to what other people might have for sale.

I realize that a lot of the younger folk might not get the thing about "stems and seeds", but c'mon, how would someone complain about them being in a domain name?

Parsley-soaked-in-formaldehyde.com is available...

 

[Domagon]

We all have our weaknesses ... I edited my post; it was late when I posted that.

Ah yes, the domain policy list ... it was very entertaining ... yes, I have much of the archive to chagrin of some, including myself ... definitely will have to grep through it again soon.

Anyways, mine is better ... stem and seed free

Ron

p.s.

http://www.valuenames.com/bennett/domainpolicyarchives.zip

 

[Domagon]

Rick-

Sent you a PM yesterday ... maybe you missed it among all the offers you have :-/

Anyways, how is the marijuana.com domain name sale coming along?...

In regards to working together ... as I said in my PM, I'm not exactly sure what we'd work on being that you've sold marijuana.com ... or is it not really sold?

Assuming it's sold, I guess there are still some things we could work together on ... please let me know what you're proposing via PM.

Ron