This coin looks really promising. For clarification, the beta testing will be in about 2 months from now? And the total coin supply says 100m. However with those rewards, it will take many years to complete right? I am calculating 14k mined every day, or around 430k a month? Is this correct? If so can you include these figures in the OP? I was speaking to a few people in the c-cex chat box, and the reason they are not investing, is because they say the total cap is too high for the current price. But if the total cap is going to take years to mine, you should include this info in the op, so not to distress investors. Imho, you guys should provide the total number of coins miner per year, or the supply year by year, in the OP. 

Hello crypto enthusiasts,

First of all we would like to thank everybody for putting their faith in our company and project Checkcoin.

With only 2 days left we believe it's time to share our plans with all early Checkcoin investors and be as transparent as possible. With the current % of Checkcoins sold on C-CEX we have not yet required enough funds to finish development, testing and PR as fast as we had originally planned. Right now a total amount of ~20 BTC is gathered by our ICO. We are still 2 days removed from our ICO closing but with the current volume on C-CEX we do not believe we will reach our original goal in the current time frame. Because of this, we had to review our original plans. We feel that it is only fair to discuss these plans with all early investors.

As we have stated before: If our ICO does not sell out, we will continue working on Checkcoin using company funding. However, with the growing volume on C-CEX we feel that it might be a better idea to extend our ICO with 1 month. This should allow us to follow our original plan and raise enough funds to develop, test and release our geolocation mobile applications on time.

Below you will find a roadmap that will show you what we have planned for the next months:



source: http://bitsend.nl/checkcoin

We would like to ask all Checkcoin investors the following question:

Would you prefer we follow path A or B?

Sincerely yours,

Bitsend

what about Option C:

when it DOES sell out?

Whichever path you do choose to take, PR has to start as soon as trading begins, and must remain in place indefinitely.
Once you're listed on an exchange you can't just leave the coin to market forces. It will struggle and it becomes extremely vulnerable to FUD.

If you take what happened with Syscoin, once the price dips beyond the ICO price, all hell breaks loose and with new coins being introduced daily, it becomes an upward struggle to turn things around.

T

I've been on the fence whether I want to invest in this or not, but I do suggest that you should decide if you extend or not... BEFORE the current ICO ends. It'd just annoy people if you wait until the ICO is over, then tack on another month.

Looking at that roadmap I see sort of a major problem, whichever road you take. That long delay between wallet release/exchanges + development of geolocation software. 2-3 months is like 2-3 years in crypto time. You really need to put in some short term goals, or I expect a lot of dumping after the ICO ends.

Saying it won't be until Feb/April of 2015 before the product is fully functional is sort of a scary thought, to be honest.

Work in progress

With all due respect, crypto is a vicious sharkpit. Saying that CKC is a work in progress and hoping for the best is like dipping a towel in blood, tossing it in the water and thinking life is good.

If there wasn't enough interest so far, how is it reasonable to assume interest will grow given more time?
There has been no talk of a change in approach, or additional PR that I have seen.

Are you just going to change plans again if there isn't enough interest?

I feel like setbacks have been handled quite reasonably, though only so many setbacks can be understood when investment decisions are made based on the information given. I bought a bit of the current ipo, but I know several people who were waiting until the last day to buy. I was planning on buying more on the last day as well.

In my opinion, if the ipo is pushed back a month, it must absolutely proceed after that no matter what.
A month might also be too much additional time.
How about pushing it back a week, and putting more effort in getting the word out?

Just my two cents, I am only a simple conga.

 I appreciate your honesty about the timeline. I feel a refund policy is necessary if you want to stay in good terms with your business. If you need a certain amount of capital then that's what you need, but understand that with no product ready to go for months everyone here knows their investment will be worth a fraction of what they paid and could buy cheaper in a downtrend.
  The only way I believe you can raise the kind of money you need for your project is to offer value to the coin in the beggining. Or you could just lie and scam investors, but nobody would do that in crypto.

As you are violating the original TIME plan and TERM of ICO at C-CEX if you proceed to Plan A. As investor, I'm demand a full refund without delay.