[HAVELOCK] Crypto Financial (CFIG) Official Thread

[Duffer1]

Office, Computers, Legal Firm, Accounting Firm, License Application, Banking Platform

Where did the money for these things come from?  Where is your office located?

We have personally raised the funds.
And we are located in Panama.
If you would like to stop by for coffee and talk about Bitcoin and our plans PM me and I would provide you with our contact info.

Sorry to say that I'm not anywhere near Panama, I'm just asking for very specific detail ("public" is the key word in IPO).  You are asking for $3mil hehe.  

How much money, exactly, has been raised so far, and what percentage do those shareholders get?

Also, do you plan to service walk-in clients or will the business be 100% through the internet?  Sorry if you've answered this already I may have missed it.

Also, what month are you targeting for launch?

[Crypto Financial]

Office, Computers, Legal Firm, Accounting Firm, License Application, Banking Platform

Where did the money for these things come from?  Where is your office located?

We have personally raised the funds.
And we are located in Panama.
If you would like to stop by for coffee and talk about Bitcoin and our plans PM me and I would provide you with our contact info.

Sorry to say that I'm not anywhere near Panama, I'm just asking for very specific detail ("public" is the key word in IPO).  You are asking for $3mil hehe.  

How much money, exactly, has been raised so far, and what percentage do those shareholders get?

Also, do you plan to service walk-in clients or will the business be 100% through the internet?  Sorry if you've answered this already I may have missed it.

Also, what month are you targeting for launch?

We have put in place enough assets on paper to secure a license.
The IPO funds raised will help us offer our services at minimum to no fees. So it wouldn't cost the average customer any upfront fees to simply open an account, or to maintain a minimum balance, all customary fees when opening a private international bank account offshore. It will also help us offer the additional services at low or no markup cost, like currency exchange, visa debit cards, etc... all services that a regular bank can offer since they use your funds to earn interest on. We will keep your funds in place. No fractional reserves.

We hope to offer our services during the 4th Quarter 2013, or sooner.  

[Rannasha]

Office, Computers, Legal Firm, Accounting Firm, License Application, Banking Platform

Where did the money for these things come from?  Where is your office located?

We have personally raised the funds.
And we are located in Panama.
If you would like to stop by for coffee and talk about Bitcoin and our plans PM me and I would provide you with our contact info.

Sorry to say that I'm not anywhere near Panama, I'm just asking for very specific detail ("public" is the key word in IPO).  You are asking for $3mil hehe.  

How much money, exactly, has been raised so far, and what percentage do those shareholders get?

Also, do you plan to service walk-in clients or will the business be 100% through the internet?  Sorry if you've answered this already I may have missed it.

Also, what month are you targeting for launch?

We have put in place enough assets on paper to secure a license.
The IPO funds raised will help us offer our services at minimum to no fees. So it wouldn't cost the average customer any upfront fees to simply open an account, or to maintain a minimum balance, all customary fees when opening a private international bank account offshore. It will also help us offer the additional services at low or no markup cost, like currency exchange, visa debit cards, etc... all services that a regular bank can offer since they use your funds to earn interest on. We will keep your funds in place. No fractional reserves.

We hope to offer our services during the 4th Quarter 2013, or sooner.  

So you're going to use the IPO funds to provide discounts to customers for opening an account and some additional services? That doesn't sound like a very sustainable idea. What happens when IPO funds run out? Do customers start paying the full price for opening accounts and such then? How do you expect investors to see an increase (or at least constant level) in their share value, when their investments aren't translated into solid assets, but rather used to pay running costs.

Using a one-time money injection to pay continuing costs is not sustainable. Surely people with banking experience should realize this. What am I missing then?

[DeathAndTaxes]

Office, Computers, Legal Firm, Accounting Firm, License Application, Banking Platform

Where did the money for these things come from?  Where is your office located?

We have personally raised the funds.
And we are located in Panama.
If you would like to stop by for coffee and talk about Bitcoin and our plans PM me and I would provide you with our contact info.

Sorry to say that I'm not anywhere near Panama, I'm just asking for very specific detail ("public" is the key word in IPO).  You are asking for $3mil hehe. 

How much money, exactly, has been raised so far, and what percentage do those shareholders get?

Also, do you plan to service walk-in clients or will the business be 100% through the internet?  Sorry if you've answered this already I may have missed it.

Also, what month are you targeting for launch?

We have put in place enough assets on paper to secure a license.
The IPO funds raised will help us offer our services at minimum to no fees. So it wouldn't cost the average customer any upfront fees to simply open an account, or to maintain a minimum balance, all customary fees when opening a private international bank account offshore. It will also help us offer the additional services at low or no markup cost, like currency exchange, visa debit cards, etc... all services that a regular bank can offer since they use your funds to earn interest on. We will keep your funds in place. No fractional reserves.

We hope to offer our services during the 4th Quarter 2013, or sooner. 

So you're going to use the IPO funds to provide discounts to customers for opening an account and some additional services? That doesn't sound like a very sustainable idea. What happens when IPO funds run out? Do customers start paying the full price for opening accounts and such then? How do you expect investors to see an increase (or at least constant level) in their share value, when their investments aren't translated into solid assets, but rather used to pay running costs.

Using a one-time money injection to pay continuing costs is not sustainable. Surely people with banking experience should realize this. What am I missing then?

It almost sounds like $3M crowd founded charity.

The more the entity raises, the lower the prices they offer consumers, and thus the lower the profit margin and the lower the return to shareholders.  So that makes it a great deal to be a shareholder.

[Crypto Financial]

Office, Computers, Legal Firm, Accounting Firm, License Application, Banking Platform

Where did the money for these things come from?  Where is your office located?

We have personally raised the funds.
And we are located in Panama.
If you would like to stop by for coffee and talk about Bitcoin and our plans PM me and I would provide you with our contact info.

Sorry to say that I'm not anywhere near Panama, I'm just asking for very specific detail ("public" is the key word in IPO).  You are asking for $3mil hehe.  

How much money, exactly, has been raised so far, and what percentage do those shareholders get?

Also, do you plan to service walk-in clients or will the business be 100% through the internet?  Sorry if you've answered this already I may have missed it.

Also, what month are you targeting for launch?

We have put in place enough assets on paper to secure a license.
The IPO funds raised will help us offer our services at minimum to no fees. So it wouldn't cost the average customer any upfront fees to simply open an account, or to maintain a minimum balance, all customary fees when opening a private international bank account offshore. It will also help us offer the additional services at low or no markup cost, like currency exchange, visa debit cards, etc... all services that a regular bank can offer since they use your funds to earn interest on. We will keep your funds in place. No fractional reserves.

We hope to offer our services during the 4th Quarter 2013, or sooner.  

So you're going to use the IPO funds to provide discounts to customers for opening an account and some additional services? That doesn't sound like a very sustainable idea. What happens when IPO funds run out? Do customers start paying the full price for opening accounts and such then? How do you expect investors to see an increase (or at least constant level) in their share value, when their investments aren't translated into solid assets, but rather used to pay running costs.

Using a one-time money injection to pay continuing costs is not sustainable. Surely people with banking experience should realize this. What am I missing then?

It almost sounds like $3M crowd founded charity.

The more the entity raises, the lower the prices they offer consumers, and thus the lower the profit margin and the lower the return to shareholders.  So that makes it a great deal to be a shareholder.

The funds raised will lower the Fees on Account Opening and Management side of the Business. We want to keep those as low as possible, to make it as "Credit Union" like fees
if possible.

The Shareholders will receive Dividends based on our profit from the actual exchange fees from the profit sharing agreement we get paid on every time an exchange between Crypto Currency and Fiat currency occurs on any one of our partner Exchange Platform.
For example: Imagine if an Exchange software platform out there (We are currently in talks with several exchanges) will no longer be required to keep AML/KYC and just provide the platform to our customers. Both parties, we as the Financial Service and They as the Exchange Platform will profit share the fees charged
at the point of conversion. Those profits will then be paid back in the form of Dividends to our shareholders.

We plan to offer any Qualified Exchange Software platform company to open an account with us and provide exchange services to our customers. We feel that the more Exchanges that we can open the better the competition that will lower the cost and raise the quality of the software delivered. Our customers will have a wide variety of choices of which Exchange Platform to use based on Price and Quality of platform.

[Crypto Financial]

Will shareholders get something else out of this, like the right to be beta testers, or have no fees?
Since it seems we're more into "crowdfunding" mode, this is the kind of perks that would be nice.

Great Idea pankkake!
That's actually something we didn't think of.
So if you purchase a certain number of shares, we will in turn grant you benefits offered exclusively to shareholders.
The more shares, the greater the benefits.

I will bring this up at our next meeting tomorrow and get back to you.

Thank you!

[felente]

@Crypto Financial

please do such, aehm, social(?) experiment:

ask some of your acquaintances who does not know that you're under that pseudonym to read all this (until this given post, excluded of course).
then ask him/her the opinion about these guys (thread OP's).

i'm sure you will hear some interesting thoughts, especially if this person is more or less aware of bitcoin (later is less important).
maybe you will hear OUR thoughts...

just do it fair

[adamstgBit]

have you talked to MtGox?

it seems to me, this service is what they need.

[Duffer1]

Thanks for the feedback, but so far you seem unwilling to give basic, specific, details about identities / location / exact amounts of previously raised capital / and the assets you bring to the table that you believe are CURRENTLY worth $12,000,000.  This is information that should be public record already (or at least will be at launch).

You might get some buyers (idiots) for your IPO based on the amount of information you've provided, but everyone else will stay well away from this one.  I'm sorry if there's a communication barrier, I'll try to ask for exactly what is needed from you in order to win the skeptics over to your side.

Please explain your valuation
You want $3 million dollars.  You are offering 20% for that $3mil.  That means you have something worth 12 million dollars (the other 80%).  What is that thing(s)?  Do you have assets currently worth $12million, or are you hoping this project will eventually become a $15million dollar business?

Capital raised so far
Specifically how much capital have you raised so far from other investors?  Your previous response to this question ("We have put in place enough assets on paper to secure a license.") is not sufficient.

Principals
Who are they?  We don't need an employee roster, but we will need a CEO, CFO, and the entire board of directors.

The office
Where is it? Again, this should already be public knowledge.

You're asking very skeptical people for three million dollars.  If you can't or won't provide answers to basic questions about your offering then your IPO will hit a brick wall on monday.  Sure there are idiots who will give a few coins, but can you reasonably expect people with serious money (people who are already turning huge profits elsewhere on proven offerings) to buy into you?

I understand that you want community involvement in your project.  And I'm sure the community wants to give you lots of money.  The problem is you haven't proven you're worth taking a chance on.  You actually haven't proven, or really provided, anything of substance at all.  You haven't shown us something worth even $15 dollars, and you're asking for $3 million.

[Zoznoz]

Office, Computers, Legal Firm, Accounting Firm, License Application, Banking Platform

Where did the money for these things come from?  Where is your office located?

We have personally raised the funds.
And we are located in Panama.
If you would like to stop by for coffee and talk about Bitcoin and our plans PM me and I would provide you with our contact info.

Sorry to say that I'm not anywhere near Panama, I'm just asking for very specific detail ("public" is the key word in IPO).  You are asking for $3mil hehe.  

How much money, exactly, has been raised so far, and what percentage do those shareholders get?

Also, do you plan to service walk-in clients or will the business be 100% through the internet?  Sorry if you've answered this already I may have missed it.

Also, what month are you targeting for launch?

We have put in place enough assets on paper to secure a license.
The IPO funds raised will help us offer our services at minimum to no fees. So it wouldn't cost the average customer any upfront fees to simply open an account, or to maintain a minimum balance, all customary fees when opening a private international bank account offshore. It will also help us offer the additional services at low or no markup cost, like currency exchange, visa debit cards, etc... all services that a regular bank can offer since they use your funds to earn interest on. We will keep your funds in place. No fractional reserves.

We hope to offer our services during the 4th Quarter 2013, or sooner.  

This is a joke. Fees is one way for a bank to make revenue, you don't raise capital to 'make fees cheaper'.. That makes no sense at all, in fact that is something a manager should never say to potential investors and they definitely don't want to hear about the various concessions you're giving to customers and as a result the additional revenue you lose from being 'nice'. It shows you don't specifically have plans to price your items accordingly to supply and demand (i.e. maximise profit). Also you constantly avoid the "$12 million question"... What tangible assets have you contributed that entitles you to a $12 million valuation? I hope you're not going to tell me that you plan on debiting the 'ideas' account for $12 million and then credit shareholder's equity.

Also who are you? What is your education and experience? Do you plan to make revenue from fees, interest spread between loans and savings and gain on sale/investment. You say something like there are a 'few finance' people who have 'worked at a bank here' which is worth nothing at all, you are still completely anonymous. You are giving public shareholder's only a 20% equity stake, therefore wouldn't it be correct to say that once the $3,000,000 is raised, yourself and whoever else has a stake in the company will become instant millionaires... That is you would own 80% of the cash that didn't come from your pocket or $2,400,000.

[Korbman]

@Crypto Financial

Still waiting for an answer to the most basic question that exists on both the forums and in your Prospectus. It's a question that not only requires no research, but also only about 5 minutes of typing to fully answer (if you're into detail, otherwise 60 seconds would probably suffice)...and if you rated it on a scale between 1 and 10 (1 = easy question, 10 = extremely difficult) it would pull in at about 0.5.

[rosatambo]

Come on, the answer is simple - Crypto's real name is whatever the Havelock guy's name is, which is the same as whatever the virtex guy is. Same guy, just being intentionally vague and pretending to be some newb.

<speculation only, but seems the most likely conclusion>

[jubalix]

the amount of money it costs to get the licenses alone, lawyers fees, etc etc, IT costs etc, I think would be well over $3m.

you need to throw about $50 mill at this, or be an entrenched player like gox and maybe btce who has cash flow to throw money at this as it goes along.

I mean look at vircurex, they raised 8K BTC at 20% valuation I think, and that let them do very little.

I mean good luck to you, but it seems you need a lot more capital,

Also Ripples bridge may have beaten you to it....

[MonkeyBear68]

Come on, the answer is simple - Crypto's real name is whatever the Havelock guy's name is, which is the same as whatever the virtex guy is. Same guy, just being intentionally vague and pretending to be some newb.

<speculation only, but seems the most likely conclusion>

I highly doubt that is the case. I have dealt with Havelock for the last year and CaVirtEx for 2 years and I have never had problems with either that were not professionally resolved to my full satisfaction. Neither of the guys running Havelock or CaVirtEx (and they are separate guys) would risk a good business and criminal charges on a foolish ploy.

However, more details are needed on this CFIG investment before I will consider it.

[Crypto Financial]

Office, Computers, Legal Firm, Accounting Firm, License Application, Banking Platform

Where did the money for these things come from?  Where is your office located?

We have personally raised the funds.
And we are located in Panama.
If you would like to stop by for coffee and talk about Bitcoin and our plans PM me and I would provide you with our contact info.

Sorry to say that I'm not anywhere near Panama, I'm just asking for very specific detail ("public" is the key word in IPO).  You are asking for $3mil hehe.  

How much money, exactly, has been raised so far, and what percentage do those shareholders get?

Also, do you plan to service walk-in clients or will the business be 100% through the internet?  Sorry if you've answered this already I may have missed it.

Also, what month are you targeting for launch?

We have put in place enough assets on paper to secure a license.
The IPO funds raised will help us offer our services at minimum to no fees. So it wouldn't cost the average customer any upfront fees to simply open an account, or to maintain a minimum balance, all customary fees when opening a private international bank account offshore. It will also help us offer the additional services at low or no markup cost, like currency exchange, visa debit cards, etc... all services that a regular bank can offer since they use your funds to earn interest on. We will keep your funds in place. No fractional reserves.

We hope to offer our services during the 4th Quarter 2013, or sooner.  

This is a joke. Fees is one way for a bank to make revenue, you don't raise capital to 'make fees cheaper'.. That makes no sense at all, in fact that is something a manager should never say to potential investors and they definitely don't want to hear about the various concessions you're giving to customers and as a result the additional revenue you lose from being 'nice'. It shows you don't specifically have plans to price your items accordingly to supply and demand (i.e. maximise profit). Also you constantly avoid the "$12 million question"... What tangible assets have you contributed that entitles you to a $12 million valuation? I hope you're not going to tell me that you plan on debiting the 'ideas' account for $12 million and then credit shareholder's equity.

Also who are you? What is your education and experience? Do you plan to make revenue from fees, interest spread between loans and savings and gain on sale/investment. You say something like there are a 'few finance' people who have 'worked at a bank here' which is worth nothing at all, you are still completely anonymous. You are giving public shareholder's only a 20% equity stake, therefore wouldn't it be correct to say that once the $3,000,000 is raised, yourself and whoever else has a stake in the company will become instant millionaires... That is you would own 80% of the cash that didn't come from your pocket or $2,400,000.

We are offering up to a 20% stake in our company for anyone that is interested in future dividends earned from our Exchange fees derived from the conversion of Crypto Currency to Fiat and vice versa. We will not use our customers funds for loans or investments.  The use of any funds raised by this IPO will in turn lower our operational cost and provide the Bitcoin community with access to our Fiduciary Financial Services at a lower cost. Making our fee structure more similar to your local credit union rather than your local bank.

We hope to be able to provide our services to the Bitcoin community in the near future. We truly believe that it is the future of e-commerce.

We understand some of the criticism shared by many and we agree with many of their opinions.
We do hope that once we do lunch our services many of you will become not just our customers
but our partners.

We chose to list our shares with Havelock Investments, and have worked closely with them over the past few months.
They do have our personal information and location on file.

Once again we appreciate all of the comments on this post as it helps us today and in the future provide better service.

[Crypto Financial]

To any potential shareholders:

We have released a concise public version of our Business Plan on the Havelock Investments site under Fund Reports.

https://www.havelockinvestments.com/reports.php

We have also added current pictures from today of our office space at:

http://cryptofinancial.imgur.com/

On Monday 11 A.M Eastern we will do an AMA on
http://Reddit.com/r/Bitcoin and try to answer any questions in regards to our
future business plan and structure. We hope you join us there.

Thank you,

Crypto Financial

[Korbman]

To any potential shareholders:

We have released a concise public version of our Business Plan on the Havelock Investments site under Fund Reports.

https://www.havelockinvestments.com/reports.php

Nice business plan...38 pages later and I've yet to learn your name or background. The only important information in the entire plan...e.g. where you talk about your management, organization, and financial plans for your company...is completely "REDACTED".

And don't bother with starting an AMA on Reddit. The questions you'll get there will the be same as what's here. Given you're heavily resistant to answering basic questions here, what makes you think Reddit will be different?

[jedunnigan]

All redacted. What a waste of time.

[Crypto Financial]

To any potential shareholders:

We have released a concise public version of our Business Plan on the Havelock Investments site under Fund Reports.

https://www.havelockinvestments.com/reports.php

Nice business plan...38 pages later and I've yet to learn your name or background. The only important information in the entire plan...e.g. where you talk about your management, organization, and financial plans for your company...is completely "REDACTED".

And don't bother with starting an AMA on Reddit. The questions you'll get there will the be same as what's here. Given you're heavily resistant to answering basic questions here, what makes you think Reddit will be different?

Thank you for reading our Business Plan.
I went ahead and PM you our contact number, please feel free to call us at any time so that I may better explain why for the safety and security of our office staff
we did not revel our personal information. Please research Latin America security statistics (in particular Kidnap for Ransom) before making a judgement on someone not leaving under the same security and freedom that you may enjoy where you reside. 

We do appreciate your interest in our services. I hope that after we personally talk you may hold a different opinion.

[jedunnigan]

To any potential shareholders:

We have released a concise public version of our Business Plan on the Havelock Investments site under Fund Reports.

https://www.havelockinvestments.com/reports.php

Nice business plan...38 pages later and I've yet to learn your name or background. The only important information in the entire plan...e.g. where you talk about your management, organization, and financial plans for your company...is completely "REDACTED".

And don't bother with starting an AMA on Reddit. The questions you'll get there will the be same as what's here. Given you're heavily resistant to answering basic questions here, what makes you think Reddit will be different?

Thank you for reading our Business Plan.
I went ahead and PM you our contact number, please feel free to call us at any time so that I may better explain why for the safety and security of our office staff
we did not revel our personal information. Please research Latin America security statistics (in particular Kidnap for Ransom) before making a judgement on someone not leaving under the same security and freedom that you may enjoy where you reside. 

We do appreciate your interest in our services. I hope that after we personally talk you may hold a different opinion.

Thank you for some clarity on the subject. It would have been nice for you to have said that earlier.

An alternative method for verifying your legitimacy will be needed. Havelock is not enough (or is it?).