We received quite a few messages and questions regarding to the physical company and I just want to clarify
Our plan is to implement the structure which was posted in this thread earlier. We have been organizing the set-up, but we are still waiting further clarification to be certain that such structure is legal in the US and the business is not breach of US securities laws. Therefore, we can't guaranty and don't promise that the two tier structure will be implemented in the described way or it can go ahead at all. We are trying to organize a DAC, but we hear as many opinions as many lawyers we ask, and if such DAC is illegal in the US then we will have to organize it somewhere else, for example in the UK or Ireland.
We are not offering shares in a physical company with the VICR contract. If the structure can be implemented legally then the VICR owners will be able to claim their ownership in the physical company if they wish to do so, but we can't guaranty and promise anything regarding to this - with those posts we only informed the community what we are up to regarding to this matter, and that we try our best to create a community driven DAC.
Our plan is to implement the structure which was posted in this thread earlier. We have been organizing the set-up, but we are still waiting further clarification to be certain that such structure is legal in the US and the business is not breach of US securities laws. Therefore, we can't guaranty and don't promise that the two tier structure will be implemented in the described way or it can go ahead at all. We are trying to organize a DAC, but we hear as many opinions as many lawyers we ask, and if such DAC is illegal in the US then we will have to organize it somewhere else, for example in the UK or Ireland.
We are not offering shares in a physical company with the VICR contract. If the structure can be implemented legally then the VICR owners will be able to claim their ownership in the physical company if they wish to do so, but we can't guaranty and promise anything regarding to this - with those posts we only informed the community what we are up to regarding to this matter, and that we try our best to create a community driven DAC.
No, it won't be legal in the US -nor many other countries-. You can create a coin and sell or distribute it as you like -at least until regulation in the US is established-. But a company, LLC or any other, is a different matter and subject to specific rules. In your case, you could create the company and own it yourselves, as an LLC, but you cannot distribute shares or ownership the way you intend to. And you do know that a US-registered company requires, by law, to file quarterly statements, I assume.
Furthermore, your whole business plan -as I understand it, since it is "explained" in such a convoluted way-, needs to be seriously restructured under very different an specific parameters, including, as paramount, a system (only "boots on the ground" will do) to filter any and all illegal activity BEFORE it happens. It cannot be done with tech alone. You would be victim of anyone in crypto simply by broadcasting a minor and calling the authorities. Your whole operation would be closed and you'll be liable for criminal and financial damages.
Finally, you hope to sign "top models" that are making a mint in FIAT to be paid in crypto, "tokens", whatever? Good luck with that.
Thank you for pointing out the issues with the securities offering. As we said we are not offering shares nor securities, the VICR contract owners could claim if they wish to do so the shares in the physical LLC. Would be such road to the ownership the breach of US securities laws? Some lawyers say it is, others say it is not. If it is not possible in the US, then we can implement the DAC in the UK.
We fully agree that the business plan is far from complete and we need experienced business professionals on board. We try our best to recruit them. We have just started this process, we are at the beginning of the road and lets hope experienced professionals will see potential in our technology and help us to take the network to the next level.
I agree about the issue of filtering. All sites have this issue. The main purpose of the trusted node concept in GadgetNet and the centralization to stop illegal content and to comply with laws and regulations. In a fully decentralized P2P streaming such filtering wouldn't be possible. We try to build a community here and we hope the community members will help us to monitor the content, especially that such content is close to a geek's heart.
Please note, the models will get paid in FAIT if they opt that cash out method. The partner site www.jizzmo.net will accept both FIAT and Bitcoin. The underlying crypto technology will be completely transparent to models and viewers.
So you can build the filtering officers unit by offering a porn-prison guard position to interested community members: they can watch the most pretty naked females of Earth all day for free - all they have to do is reporting the problems. Since the average crypto user never had sex with real woman, you wouldn't have shortage in filtering officers. Everyone would gain from the partnership - especially the 24/7 porn watcher officers.
