Hello Ermiscoin team, would you be so kind as to answer a few questions which will help put potential investors minds at ease?
1. I see you are running yourselves as a business. Can you please point us to where this business is registered and its address so we can see it online so investors know this is not a scam.
2. As this is a business and its aim is to make money can you please inform us if you are registered with the tax authorities with each of the countries you are operating in and if all your staff are having tax paid on their earnings.
3. Could you confirm who the team behind the coin are and who the staff are.
4. Please could you also confirm if tax is being paid on any IPO income. Obviously you wouldn't have an IPO without doing this so it would be helpful to know this to get rid of any doubts early.
I am sure you have this information to hand and can put potential investors minds at ease. I look forward to checking up on the information provided to ensure that this coin is legitimate and not another scam and that all taxes are being paid where needed.
It will be good to see an honest coin for once that has truly done its homework and in turn is fully protecting its investors investments.
Thank you in advance.
Thanks for bringing this up and thus a valid question. i will gladly answer this.
1. We do run a business but as for this matter we want an exclusive one licensed under ERMIS to avoid any confusion mixing personal properties and ERMIS property. We are operating in different countries but mostly the first 2 major projects will involve Philippines and Indonesia since the goods which we are aiming to trade: the agency and lathe workshop are based there. Please read the quoted info below and please consider the tense of the sentence.
ERM as a MerchantERM is targeting the wholesaling industry dealing with countries and supplying merchandise worldwide, which we believe to be one of the foundation for value stabilization. Though many coins declare to "find merchant adoption", IPO or non-IPO alike, they barely target to be merchants themselves. It will be difficult to realize this goal since that requires serious responsibility and dedication to this effort undertaken by both the developers and the community. As a starter, the ERM team has decided to cater commodities (branded/generic), provide mining rigs and unique local goods such as handicraft from countries, for example, Indonesia and Philippines at this moment (more will be available later on). Additionally to this investment, as a Merchant Ermis will provide many manufactured products which have already proven to provide a high profitable return.
Here are some examples that ERM is aiming to trade at the launch.
2. Yes I can confirm the people who will run this businesses are registered with the tax authorities with each of the countries they live in. With regards to staff (are you assuming ERMIS is already running here?) please look at the quoted message below and observe the underlined one.
The ERM team will make supplies available for sale. This will particularly distinguish us from all other cryptocoins, since ERM will acquire real stores. The 1st priority ERM targets at is to nourish and establish the coin value by setting up not only profit generating assets through investment, but also real goods to generate HIGH profits. For this, the team plans to build a low cost industry but yielding high profits (this should differ from gambling or anything similar). Depending on the availability of funds, we will join the lathe industry by funding a noddle comb / roller /mixer manufacturing shop. This will assure us a very high profit (aka, low capital yet high returns; we're excited about this whole project ourselves). We already have skilled and knowledgeable people lined up ready to make this happen. We also contacted a person who can help ERM to establish it's own bag making craft using straws, accessory making using beads and other craft using the same content.
They already done the PoD rating of Cryptoasian and still waiting for the release.
3.By asking to confirm who the staff is, if you mean the one's which are going to be handling the businesses directly then yes their identity will become public since they will be running the operations in their countries. If you are asking for the team staff identity, we already have contacted Cryptoasian for the POD verification. Our team has many people from writers to coders. They all have submitted POD request but to go as far as publicly sharing their ids this is their right not to do so. In any case by doing POD we are already sharing our ids with cryptoasian which the main reference for identity verification.
4. Your question deserve an answer, an answer you will receive in due time if everything goes according our plans. If you are really concerned by the taxation issue we confirm you everything will be done in regulation with the law of the countries we involve our selves. Since Ermis is still in the ipo stage there is no further information to provide until IPO is settled and funds are invested.
Thank you for your concern and yes you are doing your homework which is totally understandable.
Thank you,
Ermis Team
Thank you for your reply.
I look forward to seeing the full information when it is released. Are the team that created Ermiscoin considered staff? As they will have some control over the currency and will also be working for it I expect they are so they can be held accountable if anything untoward happens. Will you be publishing who the top Ermiscoin staff are rather than any front line manufacturing workers so investors know who they are investing in? As this is a business I imagine you will be doing this and having the information available online for your investors to see. It would be good to see their linkdIn accounts for example so we get an idea of their past experience. Last thing investors want is to invest in people with no experience who pretend to be experts which is what happens in most cryptocurrencies that are released.
As the Ermis team are working and making money then the team is classed as a business and I was wondering where the business is registered, what its address is and is it going to be paying tax on any payments it makes to the Ermiscoin team members for services provided? Also where would we be able to view the detailed accounts to make sure everything is above board and the funds are going where they should?
It would be great if you could provide the online link to the business registration to prove that one exists before people start investing so they can see some online evidence and even physically visit the premises to see if it exists.
Sorry for all the questions but I like to know exactly what I am investing in especially when it comes to cryptocurrencies. Once the information is provided I will do the checks with the relevant authorities of all countries involved and if it all turns out to be above board I will write my report here for all to see which will help the currencies image quite considerably.
Thank you for your time.
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