I'm very concerned by this decision to extend the ICO...  It just doesn't make sense to me.

As the token is now listed they could have simply finished the ICO as scheduled and distributed the tokens.  If they needed more funds due to the price drop in ETH then they could have sold the additional tokens from their '10% reserve' on the exchanges themselves, rather than by extending the ICO.  The only explanation I can think of why they didn't do this is because they're expecting a massive dump of tokens on distribution and the price to plummet.


Which leads to several other concerns...

Who is currently trading UBEX on the exchanges bearing in mind the tokens haven't been distributed yet?  

On these exchanges why is UBEX trading at 0.000045 ETH/UBEX?  This is 450% higher than the ICO price.  Why would anyone buy at this price when you can still purchase on the ICO for 80% less than this?

Why did they wait to liquidate the accumulated ETH?  Seems very foolish and essentially gambling that the price would be higher on completion.  If they'd liquidated it as the ICO was running they'd have received the average price smoothed over this period of time.  Far less risky.


A further concern I have is that the "Total raised" counter on the website doesn't seem to be accurate in reflecting purchases using BTC and LTC.  I saw around a week ago in the ticker window that someone had purchased tokens with 2 BTC which should have added around 36 ETH to the counter.  It never seemed to register this.  The value didn't increase at all from an hour before this alleged purchase and never incremented an amount close to 36 ETH in the hours afterwards.  Perhaps these purchases are only added at the end of each day or something.  If this is the case it's odd because the tokens are credited to your account almost immediately as I found out when I purchased some with LTC.

Be great if a representative form Ubex could alleviate some of these concerns.  Personally I'm starting to regret participating.