New news? - Movement over last couple weeks.
No movement in the project at all. All i can see is still no app in the app store, still no working product, nothing.
A new thing has popped up - they are not distributing that weird "2nd Bounty" they did over the time they listed and not giving any answers.
These guys need investigating
I have heard the Australian authorities are watching the telegram & social media and gathering historical things they have said - but I don't know for sure.
Someone said something popped up in the chat from a document or report - she didn't screenshot but sounded alarming.
Matter of time before they get checked out with a fine toothcomb by authorities.
They are pretty much screwed unless they shutdown & hide and get forgotten fast though, the evidence of lies all around the web is overwhelming, and they offered dividends which I would be very alarmed about if I was involved in the project.
Any team member or admin needs to delete all trace and get out and not be implicated by making false claims by proxy.
https://www.smartcompany.com.au/startupsmart/news-analysis/asic-makes-first-moves-against-australian-ico-after-dividend-structure-throws-up-red-flags/They break almost every rule from the ASIC
https://asic.gov.au/regulatory-resources/digital-transformation/initial-coin-offerings-and-crypto-currency/They are screwed as it's over and they can't back out or go back and create a prospectus, but check out this from the page:
Application to ICOsWhen an ICO is created to fund a company (or to fund an undertaking that looks like a company) then the rights attached to the tokens issued by the ICO may fall within the definition of a share.
The bundle of rights referred to above may be used by ASIC to help determine if a token is in fact a share. If the rights attached to the token (which are generally found in the ICO's 'white paper') are similar to rights commonly attached to a share such as if there appears to be ownership of the body, voting rights in decisions of the body or
some right to participate in profits of the body shown in the white paper then it is likely that the tokens could fall within the definition of a share.
Where it appears that an issuer of an ICO is actually making an offer of a share,
the issuer will need to prepare a prospectus. Such offers of shares are often described as initial public offerings (IPOs).
By law, a prospectus must contain all information that consumers reasonably require to make an informed investment decision.Importantly, though an ICO may look similar to an IPO, the ICO may not offer the same protections to consumers and may result in liability for the issuer and those involved in the ICO. Issuers of an ICO need to be aware that where an offer document for an ICO is, or should have been, a prospectus and that document does not contain all the information required by the Corporations Act,
or includes misleading or deceptive statements, consumers may be able to withdraw their investment before the tokens are issued or
pursue the issuer and those involved in the ICO for the loss.Technically Australians can get their money back .
