[HAVELOCK] Crypto Financial (CFIG) Official Thread

[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.

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?).

Havelock Investments do have our personal information and company address on file. We have been closely working with them over the past few months
on the different options of bringing our services forward to the Bitcoin community. 

[1715508084]

1715508084

[1715508084]

1715508084

[1715508084]

1715508084

[freedomno1]

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?

Korbman has pointed out the key issue I do not see your valuation and that is critical to any business plan.
Can you prove your private equity is valued at 15 million.
I trust Korbman and will wait if he makes a judgement.

From my personal view:
If I were an investor I would raise the stake to 60% of the company for 3 million dollars shareholder control unless we see evidence of already proven assets.
I cannot fathom the price and valuation based on the information given and would renegotiate the whole issuing.
My viewpoint is Kevin O Leary: How do I make money!
On proven income earnings and revenues of 0 your asking for 3 million on a concept and valuing your company at 15 million dollars.
As a dragon says I'm out
This has not yet proven to be an investment that can generate the revenue to value the company at this price unfortunately and I do not say that lightly.
Please provide the financials
Freedom

[Duffer1]

I've had a chance to read through the more detailed prospectus (pdf warning https://www.havelockinvestments.com/reportdownload.php?id=21).  Please clarify some things for me.

Section 9: Startup Expenses and Capitalization  
You list 3 items as assets that equal $11.5mil ($10mil bonds/securities, 3mil in cash).  You're saying here that you have raised $11.5 million (USD?) already for this project?  If you have that much secured, and your estimated expenses are $1.42mil, I don't understand why you need $3mil from us.

Lets talk about the $10million listed as an asset.  What is it, where does it come from?  Is it just the net worth of the individuals involved that could potentially be used for future liquidity?  Is it capital that has been raised and dedicated to this project?  Is it a projected future value of the company that you're counting as a current 'asset'?

The Summary following the expenses list confuses things for me even more.  It concludes that you need $1.42mil for first year expenses, and you believe you need another $1.5mil in liquidity.  Why not just liquidate from the $10mil instead of asking the community?  

It still sounds like you're trying to pass off nearly all of the first two year risk onto the community, and only offering 20% in return.  Actually it sounds worse than that.  It sounds like you're asking for a $3million, TWO year long (if you can pull off your targeted 1 year break even), interest free loan from the community.  

Lets do some dividend projections based on your two year plan estimates.  Lets assume you hit your first year break even.  I buy into your offer now, wait a year, and see zero return.  But now you're profitable, it's the start of the second year and you have no debt.  Your estimate projects a total 2nd year gross profit of $1,691,600.  80% of that goes to... well I'm not sure who because you won't tell us, and I'm not sure why they're getting 80% because you won't tell us that either, but hey there's still 20% on the table for the Bitcoin suckers community that bought into your outrageous nonsense offering. 20% = $338,320 (or $28,193 per month).  Great now lets divide that by 200,000 shares (your IPO) = $1.69 in dividends per share total for the entire second year (that's $0.14 per share per month).  

I spend .15B (~$15 usd) right now, then wait a year to start receiving .93% per month.  Of course all of that assumes you make it to profitability on time...


Full disclosure:  I'm a complete amateur, please feel free to tell me I'm wrong, then show me how I'm wrong.  Tell me how your IPO could ever be a good deal for an investor.

[havelock]

AMA with Crypto on Reddit:
http://www.reddit.com/r/Bitcoin/comments/1k7kg5/we_are_crypto_financial_a_fiat_financial_service/

[Crypto Financial]

I've had a chance to read through the more detailed prospectus (pdf warning https://www.havelockinvestments.com/reportdownload.php?id=21).  Please clarify some things for me.

Section 9: Startup Expenses and Capitalization  
You list 3 items as assets that equal $11.5mil ($10mil bonds/securities, 3mil in cash).  You're saying here that you have raised $11.5 million (USD?) already for this project?  If you have that much secured, and your estimated expenses are $1.42mil, I don't understand why you need $3mil from us.

Lets talk about the $10million listed as an asset.  What is it, where does it come from?  Is it just the net worth of the individuals involved that could potentially be used for future liquidity?  Is it capital that has been raised and dedicated to this project?  Is it a projected future value of the company that you're counting as a current 'asset'?

The Summary following the expenses list confuses things for me even more.  It concludes that you need $1.42mil for first year expenses, and you believe you need another $1.5mil in liquidity.  Why not just liquidate from the $10mil instead of asking the community?  

It still sounds like you're trying to pass off nearly all of the first two year risk onto the community, and only offering 20% in return.  Actually it sounds worse than that.  It sounds like you're asking for a $3million, TWO year long (if you can pull off your targeted 1 year break even), interest free loan from the community.  

Lets do some dividend projections based on your two year plan estimates.  Lets assume you hit your first year break even.  I buy into your offer now, wait a year, and see zero return.  But now you're profitable, it's the start of the second year and you have no debt.  Your estimate projects a total 2nd year gross profit of $1,691,600.  80% of that goes to... well I'm not sure who because you won't tell us, and I'm not sure why they're getting 80% because you won't tell us that either, but hey there's still 20% on the table for the Bitcoin suckers community that bought into your outrageous nonsense offering. 20% = $338,320 (or $28,193 per month).  Great now lets divide that by 200,000 shares (your IPO) = $1.69 in dividends per share total for the entire second year (that's $0.14 per share per month).  

I spend .15B (~$15 usd) right now, then wait a year to start receiving .93% per month.  Of course all of that assumes you make it to profitability on time...


Full disclosure:  I'm a complete amateur, please feel free to tell me I'm wrong, then show me how I'm wrong.  Tell me how your IPO could ever be a good deal for an investor.

The dividends will include Profit Sharing from Exchange fees of Fiat to Crypto and vice versa. It is hard to predict the amount of volume our exchanges will carry. But we believe
that in the long term it will provide our shareholder with a great ROI. Everything projected now will be pure speculation. Too many variables. No one could have foreseen that in such a short time Bitcoin would jump to over $100 and that the network speed would top 400 TH.

We could only do our best to grow with the market.

Assets in place are used as "Security" to ensure our customers funds and may not be used for liquidity or any operational expenses.

[nubbins]

Site knocked offline 30 seconds after IPO went live.

EDIT: and back again. 

[TsuyokuNaritai]

If the IPO sells out before the 2013-08-31 end date, will normal trading begin at that point, or would it be held up until that end date? Thanks.

[Crypto Financial]

If the IPO sells out before the 2013-08-31 end date, will normal trading begin at that point, or would it be held up until that end date? Thanks.

Normal trading will begin once the IPO sells out.

[Eb0la]

If the IPO sells out before the 2013-08-31 end date, will normal trading begin at that point, or would it be held up until that end date? Thanks.

Normal trading will begin once the IPO sells out.

I think thats going to be a while.

this whole thing reminds me a lot of people who go on Shark Tank (US TV Show for those who don't know) and ask for the sun, moon, and the stars all at once.  Sorry.. but I cannot invest in this.  too many questions not answered.

Perhaps you should go on Shark Tank?

I can go into my place of work and take similar pictures of what you did for the office.

[bitfair]

Havelock Investments do have our personal information and company address on file. We have been closely working with them over the past few months
on the different options of bringing our services forward to the Bitcoin community. 

May I suggest sharing your details with one of the more trusted forum members (say, John K.)? If a "senior" forum member vouches for the authenticity of your information, I think that would please many potential investors and alleviate some of the fears expressed here. These forums are riddled with scams and broken dreams, but there is a small set of forum members who have always proven to be trustworthy.

From following reddit the last few months, I knew this was coming - I actually believe this is legit and a great thing for bitcoin.

Best of luck in your exciting venture!

[lightbox]

Havelock Investments do have our personal information and company address on file. We have been closely working with them over the past few months
on the different options of bringing our services forward to the Bitcoin community. 

May I suggest sharing your details with one of the more trusted forum members (say, John K.)? If a "senior" forum member vouches for the authenticity of your information, I think that would please many potential investors and alleviate some of the fears expressed here. These forums are riddled with scams and broken dreams, but there is a small set of forum members who have always proven to be trustworthy.

From following reddit the last few months, I knew this was coming - I actually believe this is legit and a great thing for bitcoin.

Best of luck in your exciting venture!

As the owners of Havelock Investments, we hope we have achieved a "trusted" status in the community.. We have confirmed the identity of the Crypto Financial directors... as mentioned previously, we have been working together for several months now to bring this IPO live.

[Crypto Financial]

Havelock Investments do have our personal information and company address on file. We have been closely working with them over the past few months
on the different options of bringing our services forward to the Bitcoin community. 

May I suggest sharing your details with one of the more trusted forum members (say, John K.)? If a "senior" forum member vouches for the authenticity of your information, I think that would please many potential investors and alleviate some of the fears expressed here. These forums are riddled with scams and broken dreams, but there is a small set of forum members who have always proven to be trustworthy.

From following reddit the last few months, I knew this was coming - I actually believe this is legit and a great thing for bitcoin.

Best of luck in your exciting venture!

Please have who ever you wish to "Verify us" PM us through the Bitcointalk forum and we would be happy to go over any current and future plans and our abilities to come through on those plans. Or they may e-mail us directly at ipo@cryptofinancial.io
And we do understand the need for trust.

[jedunnigan]

Okay, anyone who PMs you will first need to be approved by the community, so only trust who you see agreed upon in this thread. Otherwise someone could go phishing for your info.

[ranlo]

If the IPO sells out before the 2013-08-31 end date, will normal trading begin at that point, or would it be held up until that end date? Thanks.

Normal trading will begin once the IPO sells out.

I think thats going to be a while.

this whole thing reminds me a lot of people who go on Shark Tank (US TV Show for those who don't know) and ask for the sun, moon, and the stars all at once.  Sorry.. but I cannot invest in this.  too many questions not answered.

Perhaps you should go on Shark Tank?

I can go into my place of work and take similar pictures of what you did for the office.

Sadly, far too many people are going to get sucked into this because too many "investors" in the Bitcoin world have absolutely no idea what they're doing. Just look at how many people are still buying PMB's that will *never* reach ROI (note: that is absolutely *never*, not just a possibility).

This company doesn't have $12 million in assets to back up their "contribution." If they did, they would have hired a consultant that knows how businesses and investments work, rather than trying to throw out irrelevant information all the time.

Seriously, if you don't steer clear of this "investment," I have no pity for you.

[Eb0la]

I don't see the reasoning for needing customer service / tech support for a startup like this.  Lets call it what it is.. a startup.  With the amount of volume they are going to have in the beginning there is no reason to be paying people to sit there doing nothing.  a team of 2-3 can probably handle this for the first little bit in their spare time most likely.  If they cannot and business is actually BOOMing so much then again if they had that kind of capital already funded.. why do they require another 3m? 

Valuation for a startup of 10+Million plus is outrageous.  sorry.

An idea is just 1% of a business, not 99%. 

[freedomno1]

Havelock Investments do have our personal information and company address on file. We have been closely working with them over the past few months
on the different options of bringing our services forward to the Bitcoin community.  

May I suggest sharing your details with one of the more trusted forum members (say, John K.)? If a "senior" forum member vouches for the authenticity of your information, I think that would please many potential investors and alleviate some of the fears expressed here. These forums are riddled with scams and broken dreams, but there is a small set of forum members who have always proven to be trustworthy.

From following reddit the last few months, I knew this was coming - I actually believe this is legit and a great thing for bitcoin.

Best of luck in your exciting venture!

As the owners of Havelock Investments, we hope we have achieved a "trusted" status in the community.. We have confirmed the identity of the Crypto Financial directors... as mentioned previously, we have been working together for several months now to bring this IPO live.

LB it's not a matter of trust as I trust havelock and your team. It is more a matter of having the proper information to make the correct judgement when evaluating an investment decision.
If we don't have valuation calculations and methods to prove that they have the capital to offer only 20% of the company we as investors cannot trust the asset issuer.
Based on the valuation the Financial data is necessary if Crypto Financial wishes to send the full prospectus to Korbman or JohnK who can verify this data it would calm down the chaos a fair bit and allow us to determine the risks associated of the investment regarding financial capital.
Saying 12 Million exists out there already and only 3 million is needed would not be taken at face value in any company.
Heck send it to Mircea he-he.
But in all seriousness another pair of eyes would help here.

[Crypto Financial]

I don't see the reasoning for needing customer service / tech support for a startup like this.  Lets call it what it is.. a startup.  With the amount of volume they are going to have in the beginning there is no reason to be paying people to sit there doing nothing.  a team of 2-3 can probably handle this for the first little bit in their spare time most likely.  If they cannot and business is actually BOOMing so much then again if they had that kind of capital already funded.. why do they require another 3m? 

Valuation for a startup of 10+Million plus is outrageous.  sorry.

An idea is just 1% of a business, not 99%. 

Thank you for your response.
We believe that our reputation when we first open our company to the public will be at stake.
Learning from past companies that have offered services to the Bitcoin community, many have failed to provide
the high level of support and customer service that we require when we offer a service. It takes time and effort
to train our KYC/AML/SAR team and it does not start on day one when we open our "doors" but at least a couple
of month ahead of time, so that we will be able to offer any customers our best service.

All you need to ask yourself is will I open an account with Crypto Financial. How long will I need to wait to get approved.
How fast can I get my money In and Out.
If you believe that we can do all this with 24 hours a day service, via e-mail, chat and phone with only a couple of people
then you should see our current call center setup for our other business and see the flood of calls we get just from people wanting to find
out if a Wire was sent out correctly or has arrived. Let alone any customer service tech support for people who are just starting to use Bitcoin.
How can we professionally explain it the new potential Bitcoin users if our staff is not properly trained on how to use a Bitcoin wallet.   

We want to form this company right - right off the bat. In order to provide a true global - international financial services to every corner in the world.

We have received hundreds of e-mails so far from people already interested to get on our mailing list, so they may open an account with us once we lunch.

We hope that we have understood the potential for Bitcoin and how it can revolutionize the payment system worldwide. The path ahead will not be an easy one
but with your help and support we hope to bring it to fruition.

Crypto Financial

[bitfair]

It's difficult to resist the temptation to guess which bank this effort is springing out from.

There's one in particular I think that stands out, but I don't want to spoil anything for those behind this effort. On the other hand, it would make quite an epic "I told you so" afterwards, so here's the SHA256 of my guess so I can return later and tell you all "I told you so": 4077551e3b5f3b040b3015bd521109e5101450047eb43f8f1865744e103c0d8d.

[nubbins]

It's difficult to resist the temptation to guess which bank this effort is springing out from.

There's one in particular I think that stands out, but I don't want to spoil anything for those behind this effort. On the other hand, it would make quite an epic "I told you so" afterwards, so here's the SHA256 of my guess so I can return later and tell you all "I told you so": 4077551e3b5f3b040b3015bd521109e5101450047eb43f8f1865744e103c0d8d.

Quoted for posterity! Always enjoyed magic shows 

[Crypto Financial]

It's difficult to resist the temptation to guess which bank this effort is springing out from.

There's one in particular I think that stands out, but I don't want to spoil anything for those behind this effort. On the other hand, it would make quite an epic "I told you so" afterwards, so here's the SHA256 of my guess so I can return later and tell you all "I told you so": 4077551e3b5f3b040b3015bd521109e5101450047eb43f8f1865744e103c0d8d.

You can PM us and I will be happy to confirm or deny your guess. But I would appreciate it if you don't make the Name public as it would be looked
at poorly by some of our current board members that did not approve of our plan to offer service to the Crypto Currency realm. Which is why we decided
to lunch it separately and from scratch.

Thank you,

Crypto Financial