Latest / Glovisor Podcast / Ep. 4: How ReeBike Will Quietly Take Over Tourist Cities With a 60‑Day Mobility Blueprint

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Ep. 4: How ReeBike Will Quietly Take Over Tourist Cities With a 60‑Day Mobility Blueprint · Glovisor Podcast

• Joe Abreu: How do you build a scalable e-mobility company while raising capital competing in a fast moving industry? In this episode, we're talking to the founder of ReeBike, a company rethinking how cities move. From early capital challenges to a rental-first e-mobility model, this the story behind scaling a mobility brand in a competitive market. Glovisor welcomes James Steele, fourth James Steele IV: Hello, Joe. Glad to be on-board. Thank you. Joe Abreu: Great. Well, thank you for being here today. All right. James, we're going to start off with how did the idea for ReeBike come about? James Steele IV: Well, Joe, the idea was really 29 years in the making, but was the result of several synergies that occurred in 2022, kind of grew out of the COVID lockdowns, the federal focus on the EV economy and a chance meeting with my now business partner. His name's Daniel Borden and his company was called Scootsie and still is. He was offering to field a fleet of e-scooters in Calgary in 2023. perhaps the biggest driver for ReeBike was Canada's response to Donald Trump's, imposing tariffs on Canada. ⁓ What he didn't realize was the way Canadians would respond with an outright travel boycott to the ⁓ and creation of the Canada Strong Pass that encourages Canadians to visit our national parks while avoiding cross-border trips. The result has been a record high tourism numbers to towns like Banff, Alberta. Now in 2023, one of my businesses, a coworking space concept called Space Central, had an office in the downtown core in a prime location with huge windows and street level access. I met Daniel who was just introducing his fleet of Okai e-scooters and seeking to rent them out from our location to a tour guide operator called Toonie Tours. And that's when the seeds for the idea of Reebike were planted. However, the landlord needed to take back the space that we were in to relocate the staff of a very large tenant called the Glenmow Museum, which had just been started on a three-year massive renovation of that facility just across the street from us. And so they needed to take back our office space and give it to this high-paying tenant. And I moved back to the office that I had just moved from three blocks away back to my third floor office space. So we kind of lost that. crime street level access location where we were going to rent these scooters from. Now Daniel immediately pivoted and relocated his scootsy business to Drumheller, Alberta. And we paused our project until the summer of 2025 when he came back to me with a much superior idea for e-bikes in high traffic tourism areas, specifically in Banff, which obviously I'm familiar with. I've lived, you know, Banff my entire life. So that's how we got started. Joe Abreu: Wow. So it sounds like politics can actually have an impact on every business. And if you know how to pivot, that actually can be a plus for you. James Steele IV: Well, absolutely. In this case, it sure was. Joe Abreu: right, so what personal experiences shaped your decision to enter the e-mobility space? James Steele IV: Well, as I hinted at, the joint venture concept for ReeBike was 29 years in the making. It was back in 1995, I was working as a financial planner for Canada's largest mutual fund company. And I was introduced to the inventor and CEO of a marketing company. Now he was in the process of launching a state of the art golf shot simulator training platform, which was able to simulate almost any shot in golf on a driving range, which was really, really cool. Back in the day, of course. platform would be rented to golfers on an hourly basis and to instructors to teach lessons off of the platform. ⁓ it was a sports related vending machine in the business market ⁓ would be sold to owner operators through licensed exclusive territory distributors like me and would generate a high profit margin for the driving range, the golf course, the instructors and of course the investors who put up the money for the project. Now... My background in finance, which gave me the ability to do this, I started a company called Innovative Financial Solutions and developed a novel concept based ⁓ what call royalty units and joint ventures. Today, we would all know that as ⁓ basically crowdfunding under platforms like GoFundMe and Kickstarter. And that allows donors to help fund exciting projects. However, we started that concept in 1997. through a mechanism called a joint venture ownership pool where private funders not only provide the seed capital to launch a project, but they share pro rata in its success by receiving gross royalties paid right off the top of the monthly revenue that's earned. royalty unit holders in this environment will typically earn 25 to 50 % of the gross revenue in a joint venture. And In the finance industry, it's much like owning preferred shares in the stock market where you're the first to get paid with dividends. So when Daniel came to me in 2023 with Scootsie and again in 2025, I this funding idea concept and proposed it to him, which he absolutely loved and wanted me to run the numbers on the Banff ⁓ project. And I did, and now here we are. Joe Abreu: Excellent. And it seems like you have a lot of experience in the financial markets. James Steele IV: Well, that's my background. I've got degrees in both economics and finance, six years of university, and I went right into financial planning as soon as I exited university. And I've pretty much most of my life worked in the financial industry in some capacity, and it's allowed me to start 10 different businesses since 2002. And is the latest one that I've for the first time done as a partnership with someone else. Joe Abreu: When you first launched, what was your vision for the company for ReeBike and how has that evolved? James Steele IV: Well, ⁓ at first I wasn't overly keen on running a rental operation in a town an hour away from me, to be honest. It had been two plus years, I guess, of ⁓ great discussions with Dan about scooters. And the results just weren't there for a seasonal operation in a small tourist town of Drumheller, just in southern Alberta. But ⁓ he started describing the potential for e-bikes in a tourist town, which has since been overrun with tourists and has literally no competition from the... ⁓ typical e-bike providers because they're not allowed to operate in Banff and I realized that there was a massive opportunity that could be filled but you had to have the right approach to do it. started out as a simple street rental concept quickly evolved into a joint venture that would need to involve the town council, local hotel operators, private funders of course, third-party sponsors. social media advertising and obviously the software platforms that are capable of managing and booking the e-bikes with geo-fencing capabilities. Joe Abreu: And your initial go-to market strategy, was that something that you've used in the past? if you haven't, mean, how is this one different than your other ventures? James Steele IV: Go. That's a question. Well, initially the strategy was to rent the bikes out from independent local e-bike owners who would purchase them for personal use and then rent them out to tourists using a peer-to-peer rental app, much like you would with Airbnb. Now, a town wants to encourage locals to buy and ride their own e-bikes rather than cluttering the streets with employee-owned cars. So they're offering a $500 rebate to citizens to buy their own e-bikes. However, once we used AI and others, tech tools to conduct some research. And then we talked to the city and some of the local business owners, it became clear that the city was not going to allow small business owners to self rent from their own homes without a proper business license, et cetera, which the town said they're pretty much not willing to grant anyway. So I worked out a plan that we presented to town council and it was determined that our proposal will work through joint ventures. So long as the bikes are rented out only from the approved participating hotels. after they get a change of use on their business license. Joe Abreu: Now, guess ⁓ must have done a lot of research moving into this space. Did identify specific gaps in the e-bike rental or the eco mobility in general when you first started? James Steele IV: ⁓ absolutely. First, the traditional market is served mostly by the big players that they own their own fleet of bikes and they cater to short-term riders where the bikes are activated ⁓ an app on the street level. So you just walk up to the bike and you start it on ⁓ the app, you turn it on and it's billed by the minute. And then the rider just leaves the bike wherever they reach their end point. And that is what leads to scattered bikes all over the city. So that's exactly what the town like. Banff does not want. mean, they've got millions of tourists coming through there and they just don't want these things cluttering up the streets and becoming a tripping hazard. Not only that, it's unsightly. Plus it's a logistics nightmare for the operator to move these bikes around as they're needed from location to location. Also under that type of operation, the operator will need a city license and ⁓ quite often heavy taxes to be paid like Uber has found out. ⁓ Plus the revenue doesn't always stay in the town of Banff to locally be spent by the big players like Bird and Lime. Second, the peer-to-peer funding model has never been used in the industry that we know of. So when you have the support of local funders who can also work in the business in some capacity to help drive the success, you now have a community-owned and funded business venture where everybody wins and the money stays largely in the community. Joe Abreu: Now, when you first started the business, did you think that ⁓ were going to be your target customers ⁓ was it just ⁓ ⁓ was it ultimately you wanted to have investors and commuters to be your initials? James Steele IV: Yes, well most would be inclined to think that the customer would be the target, but for us the target is really the host locations, which is why we're collaborating with the hotels first since they are essential to our model and because we already know that the city has created the perfect scenario for us. First, they don't allow peer-to-peer rentals on their streets. do want to subsidize locals to buy and use e-bikes, but they can't ensure that the bikes stay in Banff without a geo-fenced software app, which would run the you know, the person that buys the bike in town, about 25 bucks a month to use that software and they're not gonna wanna continue that subscription indefinitely. Plus the town has banned our competitors from the street level ⁓ market and they've already passed bylaws that approve hotels and bike shops to be the only renters to a captive daily influx of about 23,000 visitors, many whom will want to take guided tours ⁓ and self to see the sites. All we need to do is provide the equipment through crowdfunded joint ventures and then to partner with the pick up and charge point locations. see them, they're really our key to all of this, is the charge point locations and the hotels that'll rent the bikes out for us. Joe Abreu: Can you explain to us a little bit of what is geolocation and how does that work? How do you keep bikes within a certain area? There's got to be a process and how do you, as a business, can scale that to manage so many bikes at one time? James Steele IV: Yeah, so it's a software app called Atom Mobility. Atom Mobility allows us to turn the bike on or off with an authorized QR code that's given to the renter once that person books the platform on our listing platform called List and Ride, which is a European-based booking facility that ⁓ primarily it for electric vehicles in Europe, but they've got the technology to also do bikes and scooters. we're using that of those two software apps to manage the bike. So once someone turns it on, the bike is now able to be used and we can set speed limits on how fast the bikes can go. But what's important for a town like Banff, especially when they're subsidizing these bikes, is to have the ability to geo-fence using GPS, which is built into the device on these bikes. And it tells the bike that ⁓ it'll... turn on the electric function of the bike only within certain geo-restricted areas. So now a community like Banff can say, we don't want bikes being used at this time of day in this area because we're running a special event or we shut down the street for a festival, things like that, or we don't want them going up on this particular zone for some reason. And we can geo-fence these on ⁓ a day basis or permanently where we can say, they will not be under electric power if you go outside of this zone. And that way as well, when you've got a tour guide operator giving a tour on these bikes, might be taking a group of 20 people out. If somebody's lagging behind and they go off down a trail they shouldn't be going on, all of a they lose the power. They realize, hey, I've gone off trail here. So they need to use the pedal power. You know, riding a bike, you're there for some exercise, not just to be assisted with electricity all the time. That's their signal, hey, get back on track. I've kind of lost the path here. So that's what geofencing is. It's very critical to the operation of these types of devices and to make sure in the case of Banff, these stay within the town that they've authorized them to be used at. Joe Abreu: Got it. So OK, so more from the logistical side. So these bikes have regular pedals like a regular bike, and then they also have a battery produces the electric part, the E part, the assist. so you're saying that there's geo fencing, so if they approach that area, ⁓ they lose power. So now they continue on, but they would have to pedal. James Steele IV: Thank Yes, so if they find out they suddenly lost power but there's plenty of juice, I believe the screen, I haven't looked at it yet, but the screen I believe will give them a notification that they're either at the fringe of the GPS geofenced area and to get back on track or they just realize ahead of time, hey I've gone off the path here, I need to go back where I just came from, re-engage the GPS and then the electricity will start again. Joe Abreu: So if they turn around, it'll reactivate, it'll get reactivated again? Okay. James Steele IV: and get back into the zone. Yes, absolutely. And by the way, the GPS built into these devices will allow our we can look on the app at any given time and find out exactly where the bikes are. So there's no worry theft of the device. We'd be to find out where these are being stored or if the bike was to break down and somebody needs an assist, they can just a phone call and we'll dispatch someone right out to them and we'll know exactly where the bikes are. Joe Abreu: would you be able to have access only to the town which you're servicing? ⁓ Let's say if someone borrows it indefinitely and they lives in another town, would you still be able to know where bike is in another town? James Steele IV: Correct. ⁓ We will know where the bike is at all times. If they put the bike in a car and try to steal it or they want to take it down to another town that we haven't authorized it to be used in, the electric power just simply will not work. But we will know where the bike is at any moment. Joe Abreu: Got it. Otherwise they just have a regular bike James Steele IV: right So when we were talking to Banff and doing our presentation to the city council, I said, how would you subsidize somebody buying a bike in town and preventing them from collaborating with someone, say in Calgary, that puts up the money, they just simply file for the $500 rebate and then the bike never gets used in town. How would you defend against that? And of course they had no answer for that. I said the only way you can do that is to have it geo-fenced and to do that you need to subscribe to a software program like we have on ours. That's $25 a month per bike by the way. And that way you can control whether the bike operates or not outside of the Banff location. And once you do that, if that was the way you went with the citizens, pretty soon the citizen would say, I'm not. gonna continue paying 25 bucks a month for a bike. After two years, I basically used up my $500 subsidy, I'm back to break even. I'm gonna turn off that software app and not subscribe to it anymore. Now I've just got a normal e-bike I can use anywhere I want. So if the town really wants to defend against this abuse of the system, they have to make sure that the persons subscribing to the bike or sponsoring the bike to get the $500 is the one using the bike and in the off time, we can use the bike. and make sure that the bike stays geo-fenced within that Banff zone. Otherwise, they're just wasting $500 of money to buy a bike that's not going to be used in Banff. Joe Abreu: I can see your value proposition for sure. But make this happen, we need money. the question is, how ⁓ are you funding business now in the early stages Is this first private monies funded? Are you getting outside investors? James Steele IV: Yeah, so as alluded to earlier, Joe, the equipment is crowdfunded through what's called the purchase of royalty units in a joint venture ownership pool that buys the bikes in minimum container loads of 100 bikes. That's the most economical way to get these over from China. And if we don't order at least 100, it's just not economically viable. So we're going to buy them in minimum containers of 100. Now we're working on a sponsorship partnership also with the local Alberta Motor Association, which we call the AMA, which is a CAA, Canadian Automobile Association affiliated branch just in Alberta. You guys would have in the United States, the American Motor Association, I presume, which is the same acronym AMA actually. we're hoping they're gonna come on board. It sounds like they will. And they're gonna purchase ⁓ extra batteries for the bikes and plus the batteries that go in the bikes in return for branded advertising on the batteries and the charging systems. be located at the host locations and other retail shops like coffee shops and things like that. We're to call these charge points or refueling stations. So you may not be able to rent the bike from those refueling stations, but on your trip, if the battery is running low, you just pull the battery out, swap it into a refueling station, pull out a fresh one and away you go. The AMA, they would also provide emergency service to stranded riders. So if your bike breaks down or runs out of charge for some reason while you're on a trip, you just make a dispatch call to the AMA and they'll come rescue you in a matter of minutes. So they've got local vehicles in town to do that. Now for the AMA, they would be on a three to five year partnership with us. So as long as the batteries last, those batteries would be moguled and stamped with AMA as the sponsor. And this gives them not only brand recognition, but the ability to sell annual memberships, will then support their community initiatives or charities or anything else that the AMA might be working with. and of course gives them ongoing brand recognition in the area. than that, it's been mostly sweat equity, brand development and marketing as far as out of pocket costs have gone so far. And real money gets spent once the ⁓ joint ownership pool is fully funded by the royalty unit holders. And then we finally order the bikes. Joe Abreu: what's interesting here. ⁓ I what offering is a much option these cities and because I can't imagine that they had ⁓ great agreements with like the AMA or AAA if you're the US for these organizations to go out there and do this. What would they have done ⁓ if they hadn't gone down this James Steele IV: Well, that's the debate. They've been discussing this at the Banff Town Council for a while. How do we put this into place? And the only solution they came up with was, because they wanted to get a lot of the townsfolk people not using their cars in the city to go from one end of town to the other, just because they live and work in the area. So was either public transit or walking or take their own bikes over to their workplace. So how do we keep citizens in town to not clutter up the streets parking from one end to the other. Well that's where the $500 subsidy came in. I've already discussed there what the problem with that is. They can't control that the $500 stays there and actually somebody buys a bike and uses it in town. So once the money's gone, it's gone. So then their other solution was to approve just the hotels and certain bike shops in town, give them approval to change their business use license and actually rent bikes from those locations. But now you have the problem of collaboration. How do you get one hotel to collaborate with another hotel and with the bike shops to maybe maintain the bikes? So they're kind of in that, what I'd call zone of indecision and lacking clarity on what is the best program. So we looked at all that ahead of time. And when I was talking to Daniel last I guess in the summer of 2025. what the best strategy was to work on this. I said the joint venture that we talked about in 2023 for the scooters is still the best strategy. And all we have to do is pivot. So we're not the operators that are running and renting the bikes ourselves and having to be on the scene all the time and live in the town because we're not, we're an hour away. best strategy is to partner with the pickup locations that are authorized to do this. Now the bike shops may or may not want to work with us on this because they got their own bikes. But hotels, don't already have this. we partnered with one of the key hotels down there. His name is Jay White. He's the general manager of the Brewster Mountain Lodge. They also do bus tours and things like that. ⁓ that family's been around that area for quite a while. And when we showed this to him, he was just gung-ho all on board and said, yeah, I think this is a great idea. They'd be willing to be our anchor location to be a host. And he also knows other hoteliers in the area that would jump on board. So the plan right now is we're going to have him spearhead the conversation with about four or five other hotel owners in the area. from one end of town to the other, we're going to have a network of collaborating hotels. Each would have 30 or 40 bikes on their inventory within their storage areas. And they would rent them out from their front desk their hotel staff. So they become our charge point location to charge the bikes overnight. And second, they become the dispatch facility where you've booked your bike, you just come in, the front desk your QR code, they go to the back room, they grab a bike, pull it out and activate the bike for you on the spot. And the beauty with our system is we've managed to devise a way that they have to rent it from the same location and bring it back to the location that they rented it from during their trip. That way we don't have the collection problem of going to get bikes that have run out of juice or just abandoned on the street, cluttering the street. This is the problem with the birds and the lions of the world is that they have to go get those bikes and juggle all their inventory around throughout the night time. And that's just a very expensive proposition. So with our model, we can have, you know, a set number of bikes ready to go at each host location. And just based on our advanced bookings and our daily use patterns, we can shift bikes from one host location to the other throughout the day. So that's how we're going to manage all this. solve the problems that most others haven't thought of how to solve. And by the way, these other companies are only doing the short-term rentals where you pick up a bike right now and you're going to use it for five minutes to drive several blocks away and you turn it off and just leave the bike stranded somewhere. No, we don't want that. We're doing minimum one hour rentals, which lends itself to the ideal use in a town like Banff where people are really seeing the sights anyway and they're going out to... to rural areas, they're not going outside of town necessarily, but we can geo-fence these things all the way up to Lake Louise if they want to take an ⁓ hour trip to go up there and back. So it's open to ⁓ a of creativity ⁓ and logistical management of the bikes if we work with hotels that are on board as host locations. And I believe we've got a great network of business owners willing to do this with us. Joe Abreu: going back to the money part, you know, ⁓ I the joint venture model very, interesting. And I'm going to ask you some more questions about that. But before that, what what made let's say, skip over the ⁓ angel investor ⁓ mean, this the most grueling part of ⁓ raising capital. you know, been there and we brought in. some other guests who've said that it's a nightmare. So have you had an experience that way? And is that why you decided to go with the joint venture what was the process? James Steele IV: Well, obviously my experience back in 1997 on a previous venture gave me the experience to realize that angel investors, they usually want a whole lot of equity or a large percentage of the operation right from the get-go. And that doesn't give you a lot of room down the road if you need to expand because your margins get squeezed to the point where the joint venture angel investor, sorry, the angel investor, I guess, would basically look at taking over the operation. So I realized the crowdfunding model, which in the royalty, structure is the best way to do it because of past experience. So I basically started off building digital business card ⁓ that share with my contacts and other people I meet just as I go throughout life, know, having a conversation with people. Hey, what are you doing these days? ⁓ Here's I'm doing. I'll share this with you. So and I've also been developing the website and associated marketing material, which serves to educate and support the business opportunity presentation that I've built. In fact, This interview that we're doing today will form part of that due diligence info that I think potential royalty holders will want to hear they even subscribe to our joint venture. Now I also have a network of business people I present this to weekly ⁓ I did with you Joe. ⁓ community-based funding model is how we are essentially rolling this out, but really anyone or any business is welcome to join us in the first ⁓ venture ownership pool. We have room for between 100 and 150 royalty units. Each one of those represents one e-bike in the pool. And having paying a gross royalty of 35 % of the revenue receipts that we receive from each rental will basically be a way that we return that money to the people who put up the funding. Now with an anticipated annual return of about 254 % based on the royalty unit calculations, by the way, that only assumes a 40 % utilization rate. and only operating for 150 days, five months of ⁓ operation per year, I doubt this opportunity to take very long to fill up with private funders. Joe Abreu: thus far, what has been the biggest challenge that you've had trying secure capital, especially using this model? James Steele IV: Well, you might be surprised, but there really hasn't been one, Joe, other than perhaps the fact that we only have time this year to launch one joint venture. people we've spoken to so far from the hotels to potential sponsors, ⁓ my own private connections, all have the ability to fully subscribe to the JVOP themselves so they can fund the entire thing. In fact, by the time your viewers listen to this, I may have already filled it up this year with a small group of business owners who just love the potential that I've shown for the Banff operation. But seriously, the only thing I needed to do is to structure this as a joint venture and not as what we would call in the investment industry a passive investment. Otherwise, securities regulators might want to require us to file an offering memorandum and how all the associated oversight and filing regulations for all that. Whereas a joint venture ownership pool requires funders in our case to be active, working in the business, almost like business partners. to help drive traffic to the rental pools. And that can be as simple as getting on their social media and sending out notice notifications, opportunity to rent an in Banff. If you're up there, click on this link here and you get a little discount. And obviously you're gonna get credit as a joint venture ownership pool participant to receive some equity out of that as well. And some referral fees. ⁓ We've built in a referral fee structure where if any of our advertisers, whether they are joint venture equity participants or not, can earn a royalty of 10 % just for referring people to the site to rent a bike from us. So I'd encourage your listeners to review our website joint venture page to learn more about it. Joe Abreu: ⁓ I think most people don't realize that once ⁓ business or your raising capital becomes a security. It is very costly this it a lot easier to raise capital. So does that mean that moving forward is is this the model that you think that your your business will continue to pursue? James Steele IV: Oh, absolutely. I think it's the only way to go because if you, like in the traditional finance business, if you're relying on the sophisticated investor clause, for example, you need to have investments minimum of $25,000. The investor would have to have a net worth of about a million dollars and a very strong income to support it. The idea being that if you've created that amount of wealth, you're not an amateur and not likely to be taken advantage of. ⁓ Whereas a joint venture, unlike a passive investment in the equity business, you are contributing not only capital, but probably skills and some sweat equity to the business and you're working in it as a either as a silent partner or as an active partner with voting rights and things like that. In our case, you don't have voting rights, you don't have a requirement to work in a specific task, but you have a built-in vested interest to help drive business for the joint venture. as an equity only partner, that's the only thing that you've got title to here, is the share of the royalties that come off the daily revenue of that business. Hopefully that answers your question. Joe Abreu: ⁓ we're going to. ⁓ it does answer my question, but it brought up another question because I need some clarification here. Does this mean I have to work? If I invest in this, do I do I have to actually work because you mentioned I have to do some tasks? James Steele IV: Yeah, I mean, your task can be as simple as getting on your social media and broadcasting out once a week, obviously the more often you do it, the better for the overall operation because you become one of our advertising agents in that sense. Now, I don't have a hard requirement that you have to do that, but other people, if they live and work in the area, hey, they might want to jump on board and be a bike technician, or they might want to shuttle bikes from one location to the other. or they might want to reach out to potential advertisers and other prospects. They might want to find other joint venture participants to join in and we can add more inventory to the system. So lots of different ways people can work in the business, but we do have a soft requirement that they do something at least on a basis in order to maintain that status as a non, or more as an active joint venture participant rather than a non-active passive investor. So that's kind of the only requirements is I'd like people to do something to drive business for the operation. And I think they're going to do it anyway because it's in their best interest. Joe Abreu: if you're in another province or country, you could just do something online. You don't necessarily have to be present. James Steele IV: Absolutely. You can use your LinkedIn, use your Facebook, Instagram, whatever. hey guys, if you're traveling to the Banff area, make sure you check out ReeBike and book online. Use their listing platform there and use my coupon code and you qualify for a discount. Joe Abreu: rebikes appears to focus on rentals. How does that differentiate you from traditional e-bike companies? James Steele IV: okay, yeah. I guess the ⁓ is in our joint venture funding model, it's in the fact that we're not renting out ⁓ short-term rentals the street level access. So, if everybody lives a big city or has been to a big city and seen bikes scattered everywhere, you know what I'm talking about. These bikes get rented and they're used for three, five, 10, 15 minutes at a time and away they go. With our model, you're renting it for a minimum one hour, typically one to two hours. Some will be four hour rentals. It allows us to obviously jump in and participate with tour guide operators, experiences that the hotels might be running. Maybe they book a wedding party and they're to take them out on their, you know, pre-wedding, I guess you'd call it a stag party in some cases, but they're going to do a bicycle tour and take a and experience with it. that really lends it well to our model versus the traditional e-bike programs that the birds and the lions of the world will typically do. Joe Abreu: are you looking for towns that don't have e-bikes currently or are you looking for opportunities that you had mentioned earlier where the ⁓ towns the cities already have a program, they're just not as efficient as your model? James Steele IV: Well, just looking at the Banff model, they don't really have an e-bike program other than ⁓ shops that might have a few in inventory that they rent out. So I'm trying to find towns that have a problem in need of a solution, if that makes sense. A of personal development speakers will talk about that. If you find a problem that needs a solution and you can fill that with the right strategy. that is an automatic formula for success. Yes, we could come into towns that already have an e-bike program and just don't have it managed properly and we could bring on their inventory of bikes and put it into a joint venture and then top that off with additional funding and then split out all that money as royalty units and manage the logistics and everything else for them. So either will work for us. We're only doing one town this year, but once we get into 2027, and are looking for expansion, then I guess I'd be open to of your viewers that ⁓ hey, I've got a town that's got some, but they're not really doing it very well. Or, hey, I got a town that sounds just like the problem in Banff. They're overwhelmed with tourists and bikes are basically the strategy that they need. And they just haven't been presented the opportunity or the concept or have any clue on how to get started. Hey, ⁓ us. Let's see if we can work together. Joe Abreu: I can see that even a town who's currently running their own program can see the benefit of this model because they don't have to do the day-to-day management. I like the AMA idea where the repairs, the resetting, the geo-fencing where they don't have to worry about it. this whole thing, I mean, it's a mess. I've been to so many cities where you see piles of bikes in the middle of James Steele IV: Mm-hmm. Joe Abreu: street that no one's been on for years. So that means that no one's picked these bikes up in a long time. So they've been lost. So ⁓ how is that valuable to a city? ⁓ I just get it. I can definitely see how communities will probably have to take a look at this and whether this is going be a better model, I think that sometimes stepping ⁓ out and looking at these new models might be best choice for them. James Steele IV: I would agree, yeah. Oftentimes when you've got town councils and city councils managing a big operation and huge amounts of money, things don't get operated efficiently at all. I that out in Calgary in the one office space that we were in. That office space had been sitting idle for over four years and they were paying rent on it right across from City Hall. Taxpayer money wasted left, right and center. And sometimes you just have to get a visionary person the board or on the city council, city manager, someone higher up in there that can see your vision. And they say, guys, we need to bring this to the town council meeting. And all town councils have this opportunity where you can come present and talk about anything you want. And you get five minutes. Obviously five minutes is not a lot of time to talk about this strategy. But all I did was pique their interest and gave them the ⁓ PowerPoint presentation that they reviewed ahead of time and said go on to the website and take your time to go through this bit by bit and study it and realize that this is the solution guys. I mean I've got you know 30 40 years in business here. I'm not making this up out of my hat off top of my hat. This is well out and I believe it is the solution and the way to go in lots of towns going forward. Joe Abreu: Now the e-mobility is a big part of the environmental impact conversation. How has that influenced your product and service design? James Steele IV: Hmm. Yeah, the green mobility is obviously the buzzword of the if you will. So we are ⁓ obviously green operation ⁓ and going to working in a town that's surrounded by green. Our program, our investment strategy is basically recycling these bikes ⁓ the end their lives. So pretty much everything we do is is focused around this idea of the circular economy. And I think that's one of our differentiating factors. We not only just have the bikes themselves, we have a whole strategy from the financial and marketing aspect to allow for the recycling and reuse of these bikes and funding of it, and then repeating this pattern into other cities and jurisdictions and just making it. an opportunity for everybody to share in obviously government funded and backed programs ⁓ ⁓ I think it's kind of the, ⁓ my mind is almost like the iPod was, you know, back in the day, it was revolutionary. It came out now, everybody's got one, you know, hopefully five, 10, 20 years down the road will realize that this was the program that kind of launched the model that everybody else followed and tried to duplicate and you know, obviously if people Duplicate your program or try to copy it. That's the greatest form of flattery in business, right? Joe Abreu: All right. we have the opportunity to coach a lot of different businesses. ⁓ And what recognize more money, more problems. ⁓ But the is that growth comes with growing pains. What has been the biggest operational you face starting Reebike ⁓ James Steele IV: none really. It just a matter of research to formulate the correct model ahead of time and then present that to the key stakeholders and then design the presentation and marketing material to go with it. For me, was relatively easy to come up with this because 30 years ago I worked on the same idea. Now the rest really technology implementation of the list and ride booking app, the Atom Mobility software app which controls the activation of the bike and the geo-fencing of the bikes. And then finally designing the royalty software to split out the revenue to all stakeholders, which is basically an Excel spreadsheet really. This will be developed after the bikes are ordered and as we're waiting for the shipment to arrive, which takes four to six weeks after we order it for them to get here. So it gives me time to produce all the rest of the things that we are still working on. Joe Abreu: So what strategies have been most effective in growing awareness and the adoption of your brand thus far? James Steele IV: So far word of mouth and networking meetings combined with with the hotels in Banff, our presentation of town council, some webinars with sponsors and potential royalty unit holders. I suspect this webinar that we're doing today will contribute much to the conversation once you post and share it to your community. once again I want to thank you for doing this. Joe Abreu: You're welcome. ⁓ So all these calls, these presentations, what is the common response you've been receiving? James Steele IV: Wow, great idea. know, this sounds like a winner. How do I get involved? How much do you need? You know, those are the questions I'm getting. I've had one guy even come up with an additional add-on product or service to it and he presented it to me and I said, well, it's an idea, but it's just not something I think we would use yet just because it was a larger device. I don't want to spoil his idea yet, but it would take up more space on the streets than we really want to take up. Joe Abreu: Hahaha ⁓ James Steele IV: this point, you know, I haven't had a single person say negative or nah, that won't work. It's like, it's like Velcro. Why didn't I think of that? Joe Abreu: unexpected lessons you learned as a founder in ⁓ this evolving industry? James Steele IV: Oh, I would say not that it was unexpected, but the principle of be prepared cannot be understated. By doing our own due diligence, I think we saved massive amounts of potentially wasted time doing the research first. We used AI and then we properly prepared our presentations for Banff. And we had answers to 95 % of the questions before they were even asked. So, know, preparation is really the key, I think, in coming up with a business strategy and presenting to others. And you know, I've been in sales for 40 years of my life and I said, you know what, if I can answer the objections before they even ask the question, then all they can do is say yes at the end. And that's how I focus on making a presentation. Joe Abreu: how do you see the competition in the e-bike and mobility market your current strategy? And possibly impacting you much now because you're starting out and your model is fairly new, but I am that once people see your model, they're going to be impressed by it and ⁓ there's always competition. do you shape that? James Steele IV: Well, competition serves to keep you paying attention. With our unique model and our personal unique business experiences, Daniel and I are confident in the fact that no one else could even try to copy what we're doing since they don't have the relevant related joint venture experiences, skills, and the vision to put it all together in the right mix. It's kind of like baking a cake. You can have all the right ingredients measured in the exact proportions and even be given the recipe on how to assemble and bake it. We all know that despite the knowledge, but the bakers need certain skills honed from experience to bake the cake to perfection. Not everyone can do it. So we're not worried about the competition, ⁓ we welcome it. Joe Abreu: now looking forward, what are your top priorities in the next 12 to 24 months? James Steele IV: first off, obviously raising the funds needed from private funders through the sale of royalty units in the joint venture ownership pools are top priority. I don't think that'll take more than a week or two to actually finish that off. Then we have all the commitments to that, we can order the first 100 to 150 e-bikes and all the accessories to go with it like helmets and gloves and batteries in time the Banff delivery and then we activate them in time for this tour season to start. Now during the shipping time we will further develop the backend accounting systems to calculate the royalty unit splits, host location agreements with ⁓ to six key host locations in Banff. We're going to develop the marketing collateral that has to go with it to promote the project ⁓ online internally in Banff. Things like stickers and QR codes and business cards and handouts. finally negotiate the sponsorship deals with the AMA and the tour guide operators that we plan to connect with. And then after year one, we can focus on refining what we did in Banff, ⁓ went good, what went bad, ⁓ can we improve on things. And then we can focus on creating new joint venture ownership pools in other towns in Canada and the US for the next 24 months and then beyond that. Joe Abreu: So you're thinking that you can start looking at other towns as soon as 12 months from now. James Steele IV: absolutely, if I had the actual time in my day, I could probably do two or three at once. But logistically, I'd rather start with one location. mean, McDonald's didn't start with two, three, locations. They started with one franchise, as did Kentucky Fried Chicken. They worked that out for a while and they figured all the ins and outs and the bells and whistles they had to add to it, know, processes. And they started expanding through franchising. So we're gonna do that with... strategies like licensing as we scale up! Joe Abreu: It seems that one tourist session within one year will probably give you enough information for you to know which challenges and which direction you should go for the following city. ⁓ Is that what thinking through the process now? James Steele IV: Absolutely. Yeah, in fact, we're taking Daniel's experience from his Scutzi operation back in 2023 and 2024 and 2025 we had to pivot away from the building that we were no longer had access to. He just took them down to Lethbridge, which is a town about two hours south of Calgary and Drumheller area. And he started running out of that area and he was able to. you know, understand what was going right, what was going wrong, what were some of the challenges. So we learned from that experience already on the scooters and the e-bikes, because our locations are going to be doing the actual rental for us and everybody returns the bikes to that location rather than leaving like a scooter on the street somewhere, it takes away a lot of the logistical nightmare that you would normally have had to have. So I think the ⁓ is already kind of ⁓ into the cake, if you will. And that's just a matter of what goes right and what goes wrong with the hotels from their operational point of view and then, you know, shifting inventory from one host to the other host as our demand changes from pre-planned bookings. You know, by the way, I didn't mention this earlier, the hotels that we're dealing with, they informed us the other day when I asked about staying there in the summertime during Stampede Week. because I've got my own condo and I rent it out on Airbnb every year. So I'm going to be away for 16 days from my condo. And I thought, hey, perfect opportunity to just stay up in Banff. And he goes, well, you better book now. It's going to be filled up. And we charge four to $600 a night on average for our hotel rooms. So I'm not sure you want to spend all your Airbnb money just renting in town for those two weeks. And I go, yeah, at that price, I probably won't. But taking a look at what they're Their customers are, if you're spending four to $600 a night, is it much of a stretch to assume you're gonna rent a bike for a few hours over that stretch of time that you're spending that kind of money in the hotel? In fact, the hotel might just pay us the time to rent the bike from us and they'll just give away the rental to some of their high paying guests. I'm not sure how that's gonna work yet, but I would just assume that's gonna be one of the perks of booking at their particular hotel versus somewhere else. Joe Abreu: assuming ⁓ of the capital has been raised ⁓ you send the order ⁓ the bikes today, how soon can those bikes be available for a customer to ride James Steele IV: So our manufacturer says if we just went with the standard black bike and stuck a logo on it they can have that out the door within 24 hours long as they have the inventory already tooled up. We want a white colored bike so it's a custom paint job. that's going to take what they say three to five days once they get the original order and deposit from us to get started on the order. And once the order is completely paid for they stick it in a container and they ship it ⁓ on slowboat from China and that's going to take anywhere from at least three weeks to maximum six weeks to get here and they will then take it from the port of Vancouver put it on a truck. They'll assemble all the bikes for us by the way so we won't have to do that assembly job and they'll deliver it to wherever we ask them to deliver that whole container by truck right into Banff and then we'll unload them and distribute them to the various host locations right from there. Basically, let's allow 60 days from the day we place the order to have those bikes delivered, set up, and ready to start renting. Joe Abreu: just over a couple of months, that's it. You can ⁓ have a location set up. ⁓ OK. James Steele IV: Absolutely. And we'll have all the agreements with the host locations done long before that, long before we even place the order. Joe Abreu: Now, one thing that you mentioned was the Stampede Week. that's huge population ⁓ moving for vacation time. now when looking at future cities, are you looking at population income or ⁓ any of these already kind of flowing into your mind thinking, OK, this is ⁓ our direction and James Steele IV: Like I said, I think I want a large captive audience. Now that's whether it's a big town that has a lot of internal demand for e-bikes already, and you would know that by the number of lime and bird bikes you would see on the city streets. However, because we're not tapping into that short-term by-the-minute rental option, we want to ⁓ to the tourists that are coming into a city or a town. ⁓ And then renting these bikes out for longer than one hour at a time so it doesn't have to necessarily be a city that's got a large operation or even an existing operation at all, but more so that they've got a Tourist and traffic problem where they're trying to incentivize people to use more e-mobility rather than driving vehicles in their own town So I think this work caters to a smaller you know, very popular tourist town than it would to a big city. Yes, we can try to compete with the other e-bike companies, but in a big city like Calgary, for example, I think more of the rentals would be less than an hour, unless you can figure out a creative way to tie into the influx of tourists that we have. Now, obviously during Stampede week, we do have, you know, hundreds of thousands of people that come into the city. Now they're going to be here for a few days. Most of them are here to attend the rodeo. They're here to attend various events around Stampede. If you can tap into that market by partnering with some of the hotels, yeah, they could probably justify renting a bike for an hour or more at a time. And thus Stampede week could be a big draw for us. Now, given that our season, you know, conflicts with what Banff is doing. all of our bikes are going to be deployed in the Banff area for that specific type of operation. But there may be other towns or cities in North America that don't have that other draw at the same time. So they could tap into the same strategy that we're using. Or they don't have a big tourist town, but they have a big draw where they need a bunch of bikes. Well, we could redeploy bikes from a smaller town nearby that wouldn't necessarily suffer the loss too badly. We can shift some bikes to bigger town that has a festival going on for a week or two weeks at a time where you've got a big influx of coming in and then we can shift the bikes back to the other town after that. So things are mobile. I mean we're in an e-mobility business. Why can't we move bikes around as demand in the local area within a hundred miles for example? Needs those bikes for other purposes. Totally up to us. Joe Abreu: Absolutely. Makes sense. role do you see technology playing in future growth? James Steele IV: Well, they've already played a key role in developing our strategy and rolling it out in the marketplace as planned. So, you know, right down from the booking app where you can book online up to six months in advance, the app that runs the bikes themselves and artificial intelligence. So we use both chat, GPT, the co-pilot for Microsoft and another one called perplexity AI. We just asked it to a whole lot of questions and it came back and gave us the answers. And if people visit our website under a tab called the case for ⁓ e-bikes. You'll the question that we asked AI and the response it gave us, which helped us assemble a lot of the research ⁓ in one place come up with the answers in advance that I think hopefully impressed ⁓ BAMP City Council on our answers. We had them planned out ahead of time. So AI is a big part of this and it'll dig down deeply into Some of the questions that you might not have known where to find the answer. AI has this ability to access virtually all information out there and compile it into a succinct synopsis and then you can extract what you need from that. yeah, AI has ironically been a big part of what helped us put together this strategy to begin with in addition to my experience over the last 30 years. Joe Abreu: sure. And I'm sure as you scale, now it comes into automation, ⁓ and outbound. And I'm sure you're going to start to infuse a lot of those different elements into your business model. For sure. So what advice would you give founders that are looking to raise capital and build a niche market, expanding fields such as the e-mobility market? James Steele IV: Probably. Great question. I'd say contact me if you want to do this strategy. all likelihood, unless you have experience at it, you won't know all the ins and outs of implementation. You probably won't have the big picture on how to make it succeed in your jurisdiction. I'm to help you create a successful model for your project. I learned a long time ago from a personal development guru that it's better to earn 1 % of a successful project than to get 100 % of a failure. Collaboration is key, so unless you want to increase your chance of failure, it's usually best to partner with someone who's willing to help you for a piece of the action like me, than to go it alone for 100 % of nothing. Joe Abreu: Absolutely, sometimes people don't don't see that picture. And it's very important to take advantage of the learning curve. If someone's already been on the other side of this, take advantage of that. There's no reason for you to start reinventing the wheel if someone else has already gone through it. James Steele IV: And by the way, since we talked about the 1 % there, it just happens to work into my financial business model on this. well basically like I've said before, this is a joint venture ownership pool. And what people do is they go on our site, they put themselves on a waiting list, ⁓ and we schedule a webinar to present the opportunity to them properly and explain the ins and outs and do some scenarios of of these numbers. Then they can one or more royalty units in the joint venture ownership pool number one by completing what's called joint venture equity participation agreement. And then they make a non-refundable $500 deposit to secure that royalty unit. Otherwise, it's just open to everybody else. It's first come first serve really in this thing. The balance of $1,500 will be due once the joint venture reaches 100 units sold because that's our container load of vehicles. And then I'll ask everybody to pay the balance of 1,500 within five days. So it's basically $2,000 for one royalty unit. That represents the purchase of one of these fancy e-bikes with all the application software and everything else ready to go on it. And at that point we then place the order for e-bikes and then we wait for the delivery from China. Now the first pool is 100 bikes, so at $2,000 each that's $200,000 and you put your name on the waiting list to be part of that launch and if you miss that opportunity and we're fully subscribed and we don't order more than 100 bikes then you'll be on the joint venture for the following year. Okay, or if you're not ready to go ahead this year, you can obviously say, I'd like to be part of the 2027 or 2026 launch. Further expansion throughout Canada, US to major tourist destinations, we're looking to solve traffic problems, will then be part of our plan. Now in the first JVOP, here's some of our assumptions. And when you get on the webinar with me, we'll go through these in detail, but we have a potential daily operating time of 15 hours, roughly. So if you take the timeframe from about 7 a.m. to about 10 o'clock at night. think that's when people will be primarily using the bikes. They forecast right now about 23,000 visitors every day from the time period May 1st to September 28th. And if you do the math on that, Joe, if you just take 12 hours from 9 a.m. to 9 p.m., that's about 2,000 people an hour coming into this town. Can you fathom that? I mean, that's huge. If only 3 % of them. Joe Abreu: Well, sure. James Steele IV: of that 23,000 were to rent a bike. That would be 690 daily rentals of one hour at $25 for that one hour. Now we based all of our forecasts on only 100 bikes in this pool, renting for six hours a day, not 15, six. The host location that we've been talking to, and Jay White in particular said, you know what, our rooms rent from 400 to six, $700 a night. And he tells us that he's pretty sure these bikes are gonna be rented out for 10 hours a day. not six. So I think our numbers are drastically underestimating reality and after the first year we're obviously going to be able to prove that out right. Now if you take those numbers and you run it through your system and do a calculation it unbelievably well it's believable for me in finance you run the numbers you're looking at about 35 percent of that royalty number coming back to the joint venture equity participants and when you see our our joint venture ownership pool explanation on our site, you're going to see that that rate of return works out to 254%. So a $2,000 investment the first year in five months of operation, one hour a day, sorry, one bike a day earning six rentals per day per bike will generate you $7,088 a year back in royalties. So your break even is about 42 days on the first year. Then the second and third year, there's obviously no new capital to contributed. you're gonna just earn a royalty of about $7,100 a year. If our numbers, which Jay says are 40 % underestimated, if those numbers come to pass, that's a pretty darn good rate of return for the average person to earn on a business that they even get to work in by doing something. So I think the numbers are very conservative and I always try to under promise over deliver, not the other way around. And obviously I can't guarantee any rates of return, but... If you just reasonably look at the numbers, if I only rented the bikes out once a day per bike, you know, it's realistically to earn 18 to 50 % rate of return a year. And in finance, man, if you can generate seven to 10 % rate of return in a mutual fund or just an ETF, you're gonna generate a double of your investment every seven to 10 years. We're talking about doubling your investment every few months. So if you're part... equity owner in the business as far as earning a percentage of the revenue, obviously you're going to create wealth a lot faster than if you're doing this the long way as a passive investor and having other people manage the money for you. Hopefully that makes sense to your listeners. Joe Abreu: absolutely. these are numbers based on a startup. model today, in the future when it's proven, now these numbers are going to start to change. probably the investment may be much greater in the future. the sooner you get in on this, ⁓ better the opportunity that you have to advantage of it versus waiting to its approving model. ⁓ And then the ROI now starts to ⁓ solidify that number, which will possibly require more investment on your part in the future. James Steele IV: That's definitely possible. Although my strategy of recycling your investment dollars is kind baked into this whole strategy, if you will. So as you earn these royalties back from the joint venture, after three to five years, we have a decision to make. These bikes will last 10 years. The batteries last three to five years. So we want to keep fresh inventory for the riders to enjoy. We don't want beaten down equipment. And we also don't want the people that buy the rebikes, because we're gonna recycle these into the secondary market. We don't want them buying beat up inventory and not getting much use out of that, like buying a used electric vehicle. You don't wanna buy a used Tesla five years into it because the battery is on its way out, right? And that's the most expensive part of the bike. In our case, that's not the most expensive part of our bike is the battery, but it isn't a vehicle like a car. So our strategy is to ⁓ these off into the secondary market once the equipment is to the point where it should be considered to be refreshed and new technology brought on. So the royalty unit holders will get the right of first refusal to buy these bikes back from the pool. And gonna sell those back to anybody who wants to buy one. Royalty unit holders get first choice at $500. If they fully subscribe and take one of these bikes on for their own use afterwards. Obviously we turn off the app, they don't have to continue subscribing to the geofencing, they can use this bike anywhere they want. So they'll put that $500 back into the joint venture ownership pool and they will get a .25 royalty unit in the new venture. Now if all the royalty unit holders were to say yes to that, we would basically have no bikes left in the pool, we would have 25 % of what's required to buy a new bike in the future, and then we'd need to to raise the other 75 % again three years from now to get new inventory. So those same royalty unit holders would have the right of first refusal to top up their investment and get back to one royalty unit again. If they started with five, they'll obviously get the opportunity to do five. If they choose not to exercise that, we can then sell it off into the secondary market to the average person. We could put it on Kijiji, we could put it on a for sale or we could do it at an auction. we're still gonna get five to $800 back in the secondary market to sell those bikes used three years down the road, because they still got lots of life left in them. And the other part of this equation is if they don't want to continue on, as a joint venture ownership pool manager, my decision is, do we wrap up the pool or do we continue on the operation? I have the final say on that. If we elect to continue, then... we're gonna have to either raise new money from the existing joint venture equity participants or find new ones to top it off with. If however, 75 % of the joint venture equity participants, which is voted on by a per-royalty unit basis that they already have in the stakes. So if somebody has five royalty units out of the 100 that are available, they got five votes out of the 100 on what to do with this. If 75 votes come through and say, no, we want this thing all wrapped up, then we just wind down the joint venture and repay everybody the capital that's left over and away they go. They can then start a new joint venture or they can take the money and run whatever they want to do with it. So that's kind of how we wrap this up at the end. But I believe once they see the cashflow coming through, they're going to want to continue on with the operation and refund it, add new equipment down the road. Now another thing in investments, if you have a stake in a business, and you probably know this because you interviewed lots of people about investing, generally if you wanna sell your in a business, you can get about three to five times cash flow for that business. So let's say one royalty unit is earning $7,100 a year. Let's go low end on this. Is it not realistic to assume that after the first year we've proven these numbers? that you could not sell that royalty unit to another third party investor for $7,100 or $14,200 or even three times that $21,600 or $300. Would you not think someone else would buy that knowing that it's only going to take them two to three years to break even on that? In all likelihood, yes, you'll be able to resell that royalty unit and then redeploy your capital into whatever you want. You could put it into gold and silver or you could put it into the stock market. You could buy a new car with it, whatever you want, it's your money. You're gonna be taxed on it as royalty income, so you have to report that yourself. But it's up to you what you do with the capital once it's redeployed. And three to five years from now, we will be either buying new equipment or winding up the joint venture and returning whatever capital is left over for those joint venture equity participants. So hopefully that kind of clarifies the longer term plan on how you can make money on this and what the rate of return looks like. Hey, when we do that private webinar for you and we just run different numbers through the Excel spreadsheet, you'll instantly see the rates of return. You realize, geez, we only got to rent these out one hour a day per bike to even generate an 18 % ROI. I mean, that's still pretty damn. Joe Abreu: Sure. James, that was a great explanation. But I have a couple of questions before we wrap up. If you could go back and change one decision early on, what would it be? James Steele IV: Sure. Yep. probably I would have started a year earlier to get everything lined up faster. With that said, serial entrepreneurs like me usually perform better under pressure and when deadlines are presented. you know, procrastination is usually the killer success, Joe, but when tamed and channeled properly with motivation and purpose, can be the seed of champions. So that's kind of the way I'm looking at it. I'm working under pressure. Let's get this thing going. Time is money. If you see the opportunity and it's of interest to you, don't wait because it's not going to be available. The people I've already talked to could actually come up with the entire amount of funding. won't tell you who said it, but when we were interviewing somebody in Banff, he said, okay, so we're looking at being a host location, but how much do you need to fill this whole joint venture? I said 200,000. He goes, that's it? I got a guy who can do the whole thing right now. And he's all over the economy already. So I don't know, by the time I make this next phone call, probably fill up the whole pool in one shot. I do have some ⁓ spoken for already, so I wouldn't wait too long if people are keen on this because procrastination really is the killer to success, Joe Abreu: absolutely. There's no better time than now. So can listeners or investors get involved with ReeBike if they're in working with you? James Steele IV: Okay, well, awesome, thanks for asking about that. best way to learn about ReeBike and more about the whole program is to go to our website, www.rebike.ca and that's spelled R-E-E-B-I-K-E.ca and look at the tab labeled the case for e-bikes. That's basically my case study that explains all of this. This will educate you about the entire e-bike industry and the use case for our business model. ⁓ When we expand in other markets, other cities will be presented with their own case studies. So right now, the only one you're going to see is Banff. Next, be sure to add your name to the wait list at the very minimum. So you're on the list in order there. It's first come first serve. If your budget allows, you need to secure your position immediately under the joint venture tab by making the $500 deposit that secures your position in the first joint venture. Like I said, this is a first come first serve opportunity as we only have between 100 and 150 RUs available before we place the first container order and then deploy the bikes to Banff. Obviously, if we have such demand of 10 hours a day or more and we're up to 90 % utilization, well, then there's an opportunity to add some more to it later on, but we'd have to order a full container load of 100. So right now, I'm going to assume that the first season will have between 100 and 150 RUs available and that's it. Now, Victor Kayam and Zig Ziglar both said at one point, success is when opportunity and preparedness meet. So my question to your listeners, are you prepared to make some serious money? Then I'd say join us at rebike.ca and get started. finally, Joe, ⁓ your listeners visit our page, make sure they give the Glovisor the credit in the dropdown referral box I've created where it asks how they learned about Rebikes. So on the joint venture equity partner referral agreement, it's called, it asks the question, how you learn about us. Under the drop down box, one option is someone referred me. If they select that option and then choose Glovisor to let us know how they got there, then we can give you the credit for this. And we do pay a referral fee for third party advisors like yourself, sending us a new business. And we also provide royalty unit holders with the same opportunity to earn referral fees to drive new interest in rebikes. like I said before, we provide triple win scenarios and we want everyone to benefit from. from this amazing project that we're putting together. So again, thanks for having us on to talk about this. Joe Abreu: Thank you for being a guest. This has been extremely informative and I'm definitely looking forward to episodes where we can get updates of where ReeBike is and where ReeBike is going moving forward. James Steele IV: Well, that would be great. Yeah, I'd to come on and share with your viewers, you know, a few months from now or at the end of the season what the results were. And then we can plan for joint venture ownership pool number two in some other city. Joe Abreu: Sounds great. Well, thank you again. Till the next one.