[CANCELLED] Mainstreet Investment LP (MIT) SECURITIZED BLOCKCHAIN ASSET

[nelson4lov]

I checked the first page and did not find escrow details...

so no investing here

I don't think they'll use Escrow for their ITOM. To Guarantee Investors, The ITOM funds will be held by a multisig address as seen here:

Thanks, as discussed above and in our ITOM, we're not using a 3rd-party Escrow service.

 Aside that, The Project is backed by some big names... That's some more assurance but If you feel You can't Invest without an escrow, I suggest you better not invest.

Apparently Some ITOM/IPO/ICO that utilized Escrow services turn out to be scam.

[1715252070]

1715252070

[Dabs]

There will probably be third-party individuals or groups that can directly participate in this ITO, then farm it out to those in the EU and US, just like a VPN, but instead of a VPN it's "real life". Maybe something like an "international forwarding address".

So, anyone not from the EU or not from the US can participate? That means, Asia, (China, South Korea, North Korea?, Thailand, Philippines, Indonesia, India, or about 48 of them), Russia? Africa (64 states or territories), South America, North America except the United States, Canada, UK? (Did they officially leave the EU already? Brexit?) ... The "trump countries": Iraq, Syria, Iran, Sudan, Libya, Somalia, and Yemen?

[MainstreetLP]

There will probably be third-party individuals or groups that can directly participate in this ITO, then farm it out to those in the EU and US, just like a VPN, but instead of a VPN it's "real life". Maybe something like an "international forwarding address".

So, anyone not from the EU or not from the US can participate? That means, Asia, (China, South Korea, North Korea?, Thailand, Philippines, Indonesia, India, or about 48 of them), Russia? Africa (64 states or territories), South America, North America except the United States, Canada, UK? (Did they officially leave the EU already? Brexit?) ... The "trump countries": Iraq, Syria, Iran, Sudan, Libya, Somalia, and Yemen?

Whoever buys tokens will have to go through KYC/AML, they could sell tokens onward if they wanted to but only the people registered with us will be able to receive a share of the profits.

However don't despair just yet, our legal team is still researching every single country we may or may not be able to allow to participate.
We hear you, we listen to all your feedback and hope to get a definite list of countries soon, well before the start of the token sale.

We have spent a lot of resources in legal compliance, bare with us, we want to make things just right.  

[Dabs]

So, how does the "share of the profits" work? I mean, does the token increase in value? Is there a buyback thing? What is the token for if the holder of the token can't receive a share of the profits?

I'm sure you've thought about it already, but anyone who acts as a "pass through" will simply declare that he owns all the profits, collect them, then forward those profits to his own "share holders".

[MainstreetLP]

So, how does the "share of the profits" work? I mean, does the token increase in value? Is there a buyback thing? What is the token for if the holder of the token can't receive a share of the profits?

I'm sure you've thought about it already, but anyone who acts as a "pass through" will simply declare that he owns all the profits, collect them, then forward those profits to his own "share holders".

The token needs to be purchased from our platform and each purchaser will have to verify their ID, country of residence, etc...
All registered token holders will receive distributions (in ETH) originating from the companies we acquire as described in our ITOM which is available on our website, we recommend to read it to understand how our fund and its tokenization works.

Anyone can register their tokens at any time once we have the registration process live. Once that happens, a token holder can collect distributions. The tokens will get traded on exchanges and may be owned by restricted holders. However, they will only have beneficial rights, not security rights. To exercise security rights, the token holder will need to register their tokens with us, which will primarily be when the distributions will be made.

We will only provide distributions to token holders who are registered with us. If at any time a token holder decides to sell his/her tokens to a new registered owner they can by contacting us and we'll take care of making sure the new owner is also registered. Token holders can also sell them on exchanges or peer to peer as they see fit, however in that case distributions won't happen to these tokens unless they are owned by a registered user.  

Taxes on capital gains are the responsibility of the token holders and subject to local requirements. You will have to trust a third party with your own money to buy tokens for you, as well as forwarding any due distributions in a timely manner, considering ETH price fluctuations.  A "pass through" as you call them will also have to declare capital gain taxes on any distribution so they will have to cover that cost somehow...

[MainstreetLP]

You are all welcome to join our AMA tomorrow at 8:00 EST / 13:00 GMT on /r/ethtrader.
A great opportunity to ask Charlie and Jason all the questions you may have, directly.
Feel free to post your questions early, they will all be answered during the AMA.

https://redd.it/5rok7s

[Dabs]

... A "pass through" as you call them will also have to declare capital gain taxes on any distribution so they will have to cover that cost somehow...

Thank you for the explanation. The last statement is easy, these "pass throughs" will simply charge a fee or a percentage to cover the cost (and probably make a little profit on other people's money.)

I'll be reading the AMA, but I don't have a reddit account, I'm sure someone else will ask the same questions.

[zahra4577]

Hi, I am residing in India and I hope i am allowed to participate.
Which exchange is ITO going to be hosted and what is the minimum amount of btc can one invest?

[MainstreetLP]

Hi, I am residing in India and I hope i am allowed to participate.
Which exchange is ITO going to be hosted and what is the minimum amount of btc can one invest?

There is no minimum purchase amount.
We will announce a definite list of allowed countries as well as instructions to participate before the start of the sale.

[MainstreetLP]

Our AMA on /r/ethtrader is live RIGHT NOW!
A great opportunity to ask Charlie and Jason all the questions you may have.

https://redd.it/5rok7s

[MainstreetLP]

Mainstreet Investment Removes Restrictions, Widens Investor Eligibility

Sale of 50 million digital tokens launches Feb. 13

GRAND CAYMAN, Cayman Islands — Cayman Islands limited partnership Mainstreet Investment is pleased to announce that the previous restrictions have been lifted and investors across the Northeastern hemisphere including the EU, are now eligible to participate in Mainstreet’s forthcoming digital token sale, subject to local laws and restrictions.

“We’ve extensively reviewed the international investment landscape to shield the Mainstreet token offering from a multitude of unknowns,” said Jason Granger, chief executive officer of Intellisys Capital, Mainstreet’s general partner. “In the process, we determined that the U.S. and Hong Kong are the only fully restricted jurisdictions for the sale."

“We’ve opened many jurisdictions across the international community as a result of our in-depth review of regulatory restrictions, which opens up a significant opportunity in countries throughout the international community.”

Individual investors will be required to self-certify and acknowledge they understand and are adhering to the laws of their region of residence and assume the associated risks for an unregistered security, Granger said.

“From the outset, careful compliance with the highest standards of international securities regulation has been at the forefront of our preparations to issue the industry’s first tokenized security on the blockchain.”

Intellisys has hired Trulioo, a Vancouver, B.C.-based provider of identity confirmation software, to ensure that information provided by investors fully complies with Anti-Money Laundering and Know-Your-Customer requirements.

The Mainstreet Investment Token goes on sale Feb. 13, with 50 million Mainstreet Investment Tokens (MITs) available for purchase. The sale will run through April 14, 2017, or until all tokens have been sold.

Proceeds from the Mainstreet sale will fund the acquisition of U.S. middle-market companies. The sale is capped at US$25 million, with a 10 percent holdback for additional investment and working capital needs for existing investments.

A full copy of the offering memorandum with complete details on the token sale can be found on the Intellisys and Mainstreet websites at intellisys.ai and mainstreet.ky.

About Intellisys Capital
Intellisys Capital LLC is the general partner of Mainstreet Investment, LP, a limited partnership private equity fund powered by the Ethereum blockchain. Led by Jason Granger and Charlie Schrem of Intellisys, Mainstreet Investment is issuing a digital token security backed by real assets and which provides real investment returns to holders.

For media inquiries, contact: hello@intellisys.ai

For investor relations, contact: corporate@intellisys.ai

[Godson_Mansa]

Please Respond to my PM. 

[adhitthana]

investment fund is popular idea , like it .

We believe this is a very unique approach to an investment fund. Among other things, the MIT token provides a liquid method to enter the US middle market, something not currently available for the majority of investors.

There are some opportunities do invest like this in Australia. The  following listed fund, for example.
http://bailador.com.au/

This fund has to comply with the ASX requirements while you guys won't be constrained in that way.

[adhitthana]

Interesting, will be doing some calculation.

Thanks for your interest. After you review the ITOM document we released yesterday we can answer any questions you have.

We will also be releasing a prospectus on our first company acquisition in the next couple weeks. It will have more detailed financials for you to work with.

Did this information get released?

[jacaf01]

I received newsletter from the mainstreet today, the content says that people in Northern hemisphere of Europe can now invest in the project, but the list of these countries were not stated expect for USA and Hong Kong citizens that are not allowed. I will like to know the list of these countries

[MainstreetLP]

I received newsletter from the mainstreet today, the content says that people in Northern hemisphere of Europe can now invest in the project, but the list of these countries were not stated expect for USA and Hong Kong citizens that are not allowed. I will like to know the list of these countries

As per our Press Release (a few posts back) and on our website:

http://www.intellisys.ai/mainstreet-investment-removes-restrictions-widens-investor-eligibility/

U.S. and Hong Kong are the only fully restricted jurisdictions for the sale.

Hope that clears it up.

[topesis]

The team seems to be set for the crowdsales finally, what I don't understand is that there would be 50 million tokens and the fund is capped at $25 million. With the price of BTC increasing now at the tokens is 1BTC=1000Itom if I'm right, do that means you won't need to sell all the tokens once $25 million target has been reached

[MainstreetLP]

The team seems to be set for the crowdsales finally, what I don't understand is that there would be 50 million tokens and the fund is capped at $25 million. With the price of BTC increasing now at the tokens is 1BTC=1000Itom if I'm right, do that means you won't need to sell all the tokens once $25 million target has been reached

If and when we will reach $25 Million the sale will stop and remaining tokens will be burned as specified in the OP.

[biggzi]

This is a very interesting project but the whole token registration/dividend distribution setup seems so antiquated. This is going to put off a lot of people from buying tokens on exchanges in the future.... and no US money?! Iconomi didn't face such problems did they?

[sazonk]

I seen there are nothing bounty program