With the ICO Envion has sold 86 million tokens. Many of them with discounts. At a price of an average of 80 cents, a volume of $ 68 million is expected. The difference between deposits and existing values is about $ 8 million. Accordingly, investors can assume that a large part of their deposits still exists. That's the good news.
The bad thing is that there are even more tokens whose legal claims are unclear. Investor-signed tokens should include 5 percent of Envion itself, 10 percent compensation to founders, and 2 percent advertising to Blogger and others. Another 12.6 million tokens were placed as part of a pre-sale with larger discounts. The management accuses the founders of having created additional tokens without authorization. It is undisputed: Thanks to favorable prices, values of around 100 million dollars were temporarily available.
Now threatens liquidation
The PWC and BDP auditors both refused to step in as auditors of Envion because they did not have access to ICO data. Without data, the suspicion of fraudulent manipulation can not be dispelled. The founders confirm that they have retained data to prevent hostile takeover by senior management.
Without auditors, there is an organ deficiency. So the placement of the tokens would only be allowed with a banking license. The suspicion of a missing permit is also the reason why Finma has intervened. Now there are three options: First, obtain a banking license, which is unrealistic, simply because of the lengthy procedure. Secondly, use an auditors - the necessary solution to the blockade, however, does not stand out. And third, the liquidation.
Due to the lack of organs, the Zug Commercial Register Office has already made representations to the cantonal court Zug. The court set Envion a deadline to appoint an auditor. This expired on September 13th. The court will soon decide on the liquidation. According to authorities, this is a formality if no solution has been found. If another four-week deadline expires unused, the Konkursamt Zug is charged with liquidating Envion AG. (Editors Tamedia)
Quote from
https://www.bernerzeitung.ch/wirtschaft/unternehmen-und-konjunktur/Angeschlagenes-BlockchainStartup-kann-Anlegern-Geld-zurueckzahlen/story/24701692