Hi there,
Thanks for your question.
A) We have not just one live product, but two. Pally Social: Private alpha from November till March, public beta in the app store from April.
https://itunes.apple.com/us/app/pally-the-app-for-friendly-internationals/id1206993633?mt=8 Pally Adventures: is in private beta in London currently:
https://pwareact.firebaseapp.com/The overall community size is 25k people
B) We've existed for 18+ months, have been through bootstrapping, friends and family round, seed round in the private market and the amount we're trying to raise in our ongoing ICO is the equivalent to what we would be aiming for in a series A in the private market which is what the next round of funding if it weren't for the crowdsale.
C) Our HARD cap is $4.55M. Our soft cap is 15% of that amount.
D) We are proud of our advisory board and delighted to have such rigorous experience across several big industries contributing to the company
Please let us know if you have any further questions of course
Thank you for the detailed response! I appreciate it!
I am still not very clear on B), but perhaps this is just simpler asked: what is the 4.5m budget for? Do you have a simple budget prepared (not the funds allocation, but a line budget with expense listings) so I could look at it and decide if it was realistic? Congratulations for having a famous team behind you and 18+ months of experience, I had hoped they would have brought something like that to the table but could not find anything like it in the whitepaper and position paper. HSBC and JP Morgan know this is one of many basics for investor interest. Thank you!
Hi again,
Anytime, always up for a few constructively asked questions
To quote our whitepaper:
The breakdown of our spending will include:
Team growth spend which is comprised of salaries, design work from contractors and other new resources that will be added to the team.
Operations spend will be comprised of legal costs to ensure compliance, fixed monthly costs and accounting services.
Marketing spend will be comprised, but not limited to campaigns, digital and physical advertisement, PR, news media agencies, analytics, growth hacking, data collection and treatment, SEO, brand videos, social media.
Business development spend will be comprised of training of Miners, expansion to new cities for Pally Adventures and relationship building with local businesses in the cities where Pally Adventures has a presence.
Technical spend will be guided by our roadmap and include development of Pally Social for Android, improvement and continued development of Pally Social for iOS, continued development of Pally Adventures' progressive web application, server infrastructure, blockchain and smart contract component development as well as sofware and hardware to facilitate the most efficient development speed for the technical team.
Although not an itemised overview, we hope that this addresses your question.
Best,