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[MrWDunne]

How often will investors see P&L, and Balance sheet statements?  Will they be audited (both BTC as bitstamp and bitfinex, and USD)?

Are there going to be salaries, or will all money going out be part of the 100,000 shares not being sold?  It's very easy to take astronomical salaries if successful leaving a fraction to go out to share holders.  The contract needs more work.  I suggest you look at other examples as there are many that are much more detailed.

Contract is currently lacking, I'll give you that one. Working on a GPG signed contract in the style of an MPEX contract.

As for salaries, I shall not be taking a salary. I am a majority shareholder and that is where I shall be taking the funds.

Initially we will be doing monthly dividends with a small report (basics like profit and expenditure). Eventually it will become a weekly thing, once we have a better idea of the costs (variable costs billed monthly).

Hope that answers the questions!

[steyehn]

for clarification

is it right to assume that the majority shareholders (3 founders) will own 85% of the 100000 shares and the investors ( those who buy shares) will own the remaining 15%?

if not, how many shares are there actually (total shares allotted to majority shareholders and investors) and how many shares (percentage) will the majority shareholders hold and how many shares (percentage) are allotted for investors

[MrWDunne]

for clarification

is it right to assume that the majority shareholders (3 founders) will own 85% of the 100000 shares and the investors ( those who buy shares) will own the remaining 15%?

if not, how many shares are there actually (total shares allotted to majority shareholders and investors) and how many shares (percentage) will the majority shareholders hold and how many shares (percentage) are allotted for investors

Correct, although the investors will have significantly more votes per share than the founders. Once the IPO is over we will work out how many votes the investors need to give them a total of at least 45% of the voting power.

[AcoinL.L.C]

When do you expect your exchange to launch? You've been offering this IPO for a while (I just woke up so my memory might be a little foggy)

[MrWDunne]

When do you expect your exchange to launch? You've been offering this IPO for a while (I just woke up so my memory might be a little foggy)

Around one months time. Platform should be complete in two weeks, after that its mainly just security that we need to work on.

[superbit]

When do you expect your exchange to launch? You've been offering this IPO for a while (I just woke up so my memory might be a little foggy)

Around one months time. Platform should be complete in two weeks, after that its mainly just security that we need to work on.

Mainly just security?  That's the only thing that matters!  Store 90% of holdings in cold storage that NEVER touches anything that has ever been online.  Do not even transfer via USB key, use webcams and QR codes or something similar.

[MrWDunne]

When do you expect your exchange to launch? You've been offering this IPO for a while (I just woke up so my memory might be a little foggy)

Around one months time. Platform should be complete in two weeks, after that its mainly just security that we need to work on.

Mainly just security?  That's the only thing that matters!  Store 90% of holdings in cold storage that NEVER touches anything that has ever been online.  Do not even transfer via USB key, use webcams and QR codes or something similar.

"Mainly just security" refers to the work required in the final two weeks, not our priorities. 2 of 3 address is what shall be used for cold storage and it should be more like 98%. The system is already prepared for this and we get given a "deficit" if someone tries to withdraw more than is in the hot wallet, and alerts us to top it up. Theoretically we could do closer to 99% cold storage but we don't want delays for our customers.

[fdiini]

Most of your answers here seem like a bunch of make up stuffs on the fly.

Do you have experience running a money service business on this scale?

[MrWDunne]

Most of your answers here seem like a bunch of make up stuffs on the fly.

Do you have experience running a money service business on this scale?

Certainly not made up on the fly, just not well documented to begin with, I admit.

And no, not many people do have that experience. (Even if you look at some of the larger firms in the space, i.e Kraken).