Are BanxShares as good as GAW Paycoin?

[runpaint]

Yep, keep twisting it mate, till even you dont recognise what it is you are talking about anymore, you are honestly like a child, running an argument all over the country side so you can keep it going, never making any real points with all the twisting of others words, i  think, or at least i hope everyone can see you for the bullshit artist you are, i dont know what it is you have against everything, but good luck with it mate, your never going to get far.

It's quite simple:

#1, You said that I can't pay my mom the rent I owe her.
#2, I pointed out that your lame internet insult is an actual fact that applies to Mark Lyford rather than me.


Let me know if you need any further explanation.

[EvilDave]

Lots of shouting and not much facts round here, so lets try to figure out wtf is actually going on.......

First off, is this the correct Banx Capital company listing?

Banx Capital Ltd is a Private Limited Company. Company number assigned by Companies House is 08797622. The company was incorporated on Monday 2nd December 2013, so the company age is 1 year 9 months 21 days. The company registration status is Active.

http://ukcompanydb.com/company/08797622/banx-capital-ltd.html

[runpaint]

Lots of shouting and not much facts round here, so lets try to figure out wtf is actually going on.......

First off, is this the correct Banx Capital company listing?

Banx Capital Ltd is a Private Limited Company. Company number assigned by Companies House is 08797622. The company was incorporated on Monday 2nd December 2013, so the company age is 1 year 9 months 21 days. The company registration status is Active.

http://ukcompanydb.com/company/08797622/banx-capital-ltd.html

It says the company has changed its name twice, and changed to BitBanx Ltd on 4 April 2014

[EvilDave]

Yeah, but a deeper look shows that it changed from BitBanx on 4/4/2014.
Look at the UK companies registry:
http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo

Anyhow, none of that means a thing until someone confirms that this is the Banx Capital in question.

[stereotype]

Yeah, but a deeper look shows that it changed from BitBanx on 4/4/2014.
Look at the UK companies registry:
http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo

Anyhow, none of that means a thing until someone confirms that this is the Banx Capital in question.

This shows a Mark James Lyford as director of Banx Capital Ltd.....

https://companycheck.co.uk/company/08797622/BANX-CAPITAL-LTD/directors-secretaries

[EvilDave]

And drilling down finds MJL as current director of 5 companies:
https://companycheck.co.uk/director/918339116/MARK-JAMES-LYFORD/companies

Banx Capital Ltd, Banx Media Ltd, Accrusoft International Limited, Mark Lyford Limited, Music Is Life Foundation

Plus 4 older appointments I can't be arsed looking at.
So let's assume that we have the right MJL and Banx Capital Ltd. here.

Heres the Companies House listing for Banx Capital:



What I'm looking for here is the company accounts filings for Banx. Any serious business will file accounts, as it's not only a legal requirement, but it is standard biz practice to allow potential investors/curious members of the public a chance to check out a businesses activities.

Here are the available documents for Banx Capital Ltd:


The only accounts available are in this document 'ACCOUNTS OF DORMANT COMPANY MADE UP TO 31/12/14'.
And I'm too tight to pay out good cash for a possibly useless document, as dormant companies do not need to publish full accounts.

Looking into the legal status of a dormant company is interesting for Banx Capital though:
http://www.informdirect.co.uk/business-finance/dormant-company-definition-and-requirements/
https://www.gov.uk/restart-a-non-trading-or-dormant-company

I have two questions for Mark and the Banx team as a result of this little dig around :

Do you have some company account filings for Banx I can take a look at without having to throw a hard-earned quid at HMGOV?

How is it possible that Banx Capital is listed as 'dormant' (ie non-active, not trading, no need to publish accunts....) while at the same time being an active business that is actually trading ?

Look at:
http://banxcapital.com/
Seems active to me.......







 

[stereotype]

And next accounts not legally due for a whole year from now. 

[bizzyb]

They're legally incorporated in Hong Kong afaik - which explains why the UK company is dormant.

All seems right and proper.

HONG KONG HEAD OFFICE

The Banx Group Ltd
14F China Hong Kong Tower
8 Hennessy Road,
Wanchai
Hong Kong
Tel: (+852) 8197 8775
Email: hongkongoffice@banxcapital.com

[EvilDave]

Good point, BizzyB....offices, important stuff.

First off, looking at the Companies House listing shows:  'no overseas details associated with this company'.
This means that the Banx Capital Ltd I'm looking at is not a subsidiary of an overseas (ie Hong Kong or Panama) company.
Wonder how I can access HK companies listings ?


Here's a cap of the office addresses from http://banxcapital.com/:


I'll take a gander at the office addresses in a bit.....


EDIT:
figured out some HK company listings...
http://www.cr.gov.hk/en/home/index.htm
Found one listing for The Banx Group, here it is on page 279 of a stupidly long .pdf:
http://www.cr.gov.hk/docs/wrpt/wk_new&changednamecoys_20150615.pdf



The Banx Group Limited was set up in Hong Kong a few months ago, on 17 June 2015,
but Banx Capital in the UK has been dormant for much longer than that,
so the theory from BizzyB that Banx Capital is dormant because its a subsidiary of a HK company doesn't hold up.

[bizzyb]

I tried here
https://www.mobile-cr.gov.hk/mob/cns_search.jsp
and searched for "banx" and it showed the active company Banx group.

There may be better facilities available, but this seemed like an official site.

This is all as I expected as I am aware they incorporated there after receiving some comms from the Banx team saying that it had been completed.

As for the UK listing I'm guessing Mark made sure he had protected that name here in the UK, but the active business is listed in HK for operational reasons.
Seems like a sensible thing to do.

[bizzyb]

so the theory from BizzyB that Banx Capital is dormant because its a subsidiary of a HK company doesn't hold up.

That's not what I said

As for the UK listing I'm guessing Mark made sure he had protected that name here in the UK, but the active business is listed in HK for operational reasons.
Seems like a sensible thing to do.

[EvilDave]

@bizzyb
Could I more accurately paraphrase your argument as : that Banx Capital in the UK is dormant, and simply used as a placeholder, now that all trading has been transferred to the HK company ? 

[bizzyb]

No

I'm not speaking for Banx, just submitting my opinion based on the evidence.

All I'm saying is that HK is the country of incorporation for the active business, and it looks like a UK entry was registered too (for whatever reason).

I'm not an expert on the technicalities and complexities with registering crypto related businesses, but I am sure they are significant as it is such a new sector with almost daily changes in policy/legislation depending on your jurisdiction.

[MarkLyford]

To clarify, as already stated publicly many times.

The main operational and holding company for everything Banx is doing is now the Banx Group in HK.

Banx Capital Ltd is a separate stand alone business that will be dealing with the marketing and funnel for Banx in the UK.

HK is far more easy to deal with for crypto businesses hence the reason the company is now located there. Banx Capital Ltd in the UK will continue to run for marketing of Banx services and products.

Obviously governments and jurisdictions stance on Bitcoin and crypto are changing all the time and our organisation has to change to reflect this.

hope this help

Mark

[EvilDave]

To clarify, as already stated publicly many times.

The main operational and holding company for everything Banx is doing is now the Banx Group in HK.

Banx Capital Ltd is a separate stand alone business that will be dealing with the marketing and funnel for Banx in the UK.

HK is far more easy to deal with for crypto businesses hence the reason the company is now located there. Banx Capital Ltd in the UK will continue to run for marketing of Banx services and products.

Obviously governments and jurisdictions stance on Bitcoin and crypto are changing all the time and our organisation has to change to reflect this.

hope this help

Mark

Hang on a second, Mark.
Banx Capital isn't running at all.....it's a dormant company. It has had no transactions in this year, maybe for longer.
It can't engage in any form of trading without losing that dormant status and putting you in the position where you will have to start filing accounts.

Speaking of which, have you got any form of balance sheet/accounts/revenue stream information that you can post here ?
For any of the Banx businesses, I'm not fussy.

What's the situation with Banx Media ?



Also dormant, so no trading done or accounts available ?

[MarkLyford]

@EvilDave

Last Accounts Made Up To: 31/12/2014  (DORMANT) - those are 2014 accounts. the next accounts

Next Accounts Due: 30/09/2016 - that is when next non dormant accounts will be filed.

Re Banx Media, nothing is being done with this company at the moment so therefore is dormant.

Hope this helps

Mark

[EvilDave]

Mmmmm....still no accounts, eh ?
What I'm trying to do here is to find some information that backs up the idea that BanxShares/Capital/Media/Technology/Mint is a genuine business.
Most businesses will have accounts available for just this sort of occasion.

Anyway, I said I'd take a look at the Banx offices, see what they look like, maybe find a building with a BanxShares logo visible on StreetView.
 
Here's the Hong Kong head office for Banx Group:

The Banx Group Ltd
14F China Hong Kong Tower
8 Hennessy Road,
Wanchai
Hong Kong

Then we run into a wall, the address is from a serviced offices/virtual office provider:
http://www.centreo.hk/

Nothing much to see here.


Moving on to the UK office for Banx Capital:

First Floor,
81 Market Street
Ashby De La Zouch
Leicestershire, LE65 1AH
United Kingdom

I did find a dentist and a Bangladeshi restaurant at that address, so thats pretty handy.
http://www.marketstreetdentalpractice.com/home/
http://www.tripadvisor.nl/Restaurant_Review-g503956-d2668946-Reviews-De_la_Zouch-Ashby_de_la_Zouch_Leicestershire_England.html#REVIEWS
Teeth whitening and fairly good curry.....here's the StreetView:
If you check the door, I think that I can see a Banx logo on the left. Yay.......first sign of life for Banx. No sign of the curry house, tho'.

Found these on the way as well:
http://bitbanx.com/
and
http://banxnow.com/notifications/


Off to Panama:

Ricardo Arias St.,
Advanced Tower
11th Floor, Office B,
Panama City
Panama

Found a lot of businesses with the exact same address, making me think that this is another serviced office set-up:
http://www.degreeinfo.com/accreditation-discussions-ra-detc-state-approval-unaccredited-schools/22753-greenwich-university-reborn.html
http://www.offshorealert.com/ForumNewTopic.aspx?g=posts&t=38604
https://www.aihitdata.com/company/005BC87A/LIBERTY-ENTERPRISES/contacts
https://www.gmdu.net/corp-196456.html

and a load more......



In conclusion, so far I've found very little real-world evidence to support the idea that Banx Capital/whatever is a real biz: no accounts, and no real office locations, apart from the UK office, which really doesn't jibe with the corporate image that Banx is trying hard to project.
 
On the other hand: the Banx Capital/Group/whatever corporate presence may be pretty sketchy, but that's not actually a crime.
Plenty of businesses use serviced offices to 'big up' their corporate presence, that's why those services exist.
 
The issue of using dormant companies to trade/transact with could come back to bite Banx on the ass.
However, that's not my problem, and will only be proveable by taking a look at the accounts/bank statements for all of the Banx group businesses.

Here's a summary of the legal requirements for dormancy:
http://www.wardwilliams.co.uk/documents/Dormant_companies_-_the_lowdown.pdf

[stereotype]

I did find a dentist and a Bangladeshi restaurant at that address, so thats pretty handy.

Apparently, theres a place you can buy smoke n mirrors from, at that address also.
 

[bizzyb]

Come on guys give it a break.
Here's a video made by Marks eldest including footage of their offices
http://marklyford.com/mark-lyford-latest/a-day-at-the-banx-group-offices/

They're working their asses off to try to build something exciting & interesting
(and as an investor I want them to continue doing that rather than defend themselves against internet randoms)

It's so easy to find fault and pick holes, which is why so many people (especially anonymous users on internet forums ) are like that.
It takes courage and energy to be constructive, supportive, positive and optimistic, but it also brings great rewards, usually rewards far more important than financial gain.

Instead of only looking for the fails and the negatives, try looking for the successes and the positives go on..try it...even if just for a day

[EvilDave]

@bizzyb
Being honest, I'm not a big fan of Banx since my last encounter with them:
https://bitcointalk.org/index.php?topic=1091855.0

But I'm doing my level best to be fair to Mark L here,  and I simply want to figure out whether Banx is legit or not. It's important, for everyone here.

Point about the video:
http://marklyford.com/mark-lyford-latest/a-day-at-the-banx-group-offices/
That's not Hong Kong.
The Banx Group Limited office is in Hong Kong, we've just established that, Mark confirmed it.
Maybe whoever posted the video got confused between the now-dormant Banx Capital offices in Ashby-de-la-Zouch and the new head office in HK.

Anyhow, more good news:
I've found a trading data analysis specialist who's willing to take a look at the Banx.io trading figures for BanxShares,
he should be able to discriminate between internal bot activity and genuine human trading on the platform.

I seem to remember that someone requested the Banx.io trading data a few pages back (   ), so I'd like to ask for them again:
@ByronP: Could I have as much BanxShares trading data from Banx.io as possible, preferably in .csv (or similar) format ?
Should be easy enough to pull off the exchange, and as you guys are migrating to OpenLedger soon, all of the data from then on will be publicly accessible anyway.
Making the historical data available will for analysis will only add to the transparency of the BanxShares project, and could clear up the accusations about internal bot trading.