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Author Topic: Is this Kraken e-mail for real?  (Read 328 times)
PrimeNumber7
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May 25, 2019, 06:51:56 PM
 #21

I don't know that any resolution would have made the news, and I don't think it would have if Kraken paid a small amount for what amounts to worthless shares.
True, but there are still posts being made from CAVirtex shareholders saying they haven't been compensated or even contacted by Kraken, despite assurances that both these things were going to happen. It seems as if Kraken are just hoping that over time most people will lose interest in chasing them up or forget about the whole thing. That just doesn't sit right with me, especially for them to then start offering more shares.
I would encourage you to create an account at BTTF and broach the question about what happened. I don’t think they could reasonably ignore the question if you bring up the issues you are talking about.

I wasn’t able to find any fairly recent posts on here or Reddit when I previously was searching for posts you described. IIRC most were not long after the acquisition.

Even though they were saying they were going to pay that specific class of shareholder, I am unsure they were legally required to do so, absent a promise to pay them.
rkagerer
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June 19, 2019, 08:49:11 AM
Last edit: June 20, 2019, 07:54:42 PM by rkagerer
 #22

I'm confused.  The email says the minimum investment is $1000, but when that amount is typed into the BnkToTheFuture amount box, it shows "Equity 0%".  It stays like that until you enter a dollar amount over $2000, at which point it says "Equity: 0.0001%".  There's also verbiage in their Investor Agreement saying "Fractional Shares will be issued to four decimal places and the benefit of any rounding retained by the Nominee."

So does a $1k investment actually buy you any [real or pretend] equity?

The agreement & attached schedule don't define the term "Fractional Shares" (despite the preamble saying all capitalized phrases have the meaning assigned in the Schedule).

Also I noticed some switcheroo happening with regard to the NDA (see https://bitcointalk.org/index.php?topic=5155971.0).  It doesn't exactly lend an impression of professionalism.

EDIT: I've been informed (by Kraken) that a $1000 investment gets you equity (around 50 shares?), and that there's a distinction between Fractional Shares (which get rounded to four decimals) and "fractional equity".
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