If people must first mine coins via PoW to obtain their first coins, will the people with powerful mining hardware obtain most of the initial coins? How will people with low power hardware stand a chance of obtaining their first coins?

Well, the initial coins will be generated through PoW. Then, they can be burnt, used, or sold. If one does not have the capacity to mine Slimcoins through PoW, they could easily exchange/buy them and then burn them.

It sounds like the whales with powerful rigs will get the chance to mine huge amounts of the first coins. If the chance of hitting a PoB block rises if you have more coins in your wallet, then will the whales with huge amounts of the first coins be likely to get the most PoB blocks too?

..and what is happoning after the generation of a PoB block

After a PoB block is generated, coins get awarded and transactions get 1 more confirmation. Really the same thing happens when a PoW block is found.

bump

WOW. But can the dev elaborate more on how does POB help the coin and what are the other plans for the coin?

It is possible to determine the possibility of finding a PoB block, given that the network's total burnt coins remains the same as the difficulty is based off of that.

As for how PoB helps this coin, the main purpose behind this was to give people that want to mine but do not have access to fast hardware because of preorders/back orders, etc... Those users would be able to burn some coins and there in a matter of minutes they are up and burn mining. Also, PoB mining involves much less hassles and only requires a computer to run 24/7. The computer does not need to be fast, really any computer would work.

Finally. This sounds great on paper, but I want to see it in action. I'll be watching this. Good luck guys!