1. Ronnee Ades is not a current adviser, why is she still listed as being one?Ronne Ades is a Strategic Advisor and she is on board.
https://a.radikal.ru/a10/1803/89/db39be9a7bd6.jpg 2. Robert Matuk is not an adviser, why is he still listed as being one? https://imgur.com/a/LHPQ1 - its a fake account like many others that scamers use. Robert Matuk is onboard with the project and help us to communicate with US market. Knowing that our project been attacked by scamers and we receive threats our project members never respond to any private requests. Below you may find a screen shot our communication.
https://a.radikal.ru/a17/1803/61/aa7602f7a1c0.jpg3. The return on investment example in the white paper is incorrectly stated as 20%, it should be 8.4% (if someone paid USD 0.38 for their FLOT tokens, less if they paid more).The return on investment was estimated for large investors at the pre sale round. Its an ESTIMATION. Its impossible to predict the exact return. Estimation was made based on market analyses and a possible market share that FireLotto can achieve within a several years. The lottery market research used for estimation could be found here:
https://firelotto.io/marketing_report.pdf3. After the failed CashPokerPro project where investors lost pretty much their whole investment, you started ICOLAB.ME, which listed 2 advisors (Jake Brukhman and Adam Draper) who were not involved with the project at all. Jake posted on Twitter: ATTENTION! "http://icolab.me/ is listing myself and @AdamDraper as advisors to their ICO. I am NOT in ANY WAY affiliated with this project, this sounds like a phishing scheme or scam. Please be advised." You later closed the website. We're afraid you're going to do the same thing again. What is your version of the Icolab.me story?ICO and Internet is a network where may people and projects may intersect. Also, there are many fake news created by scamers that they apply to prove their words. Our team is responsible for Firelotto.io.
Scamers intentionally avoid talking about other team members and our partners such as Qiwi, 1Xbet Shangri La. World know companies that make a due diligence of the project first and then cooperate.
Everything we do to make the project better stays out of their attention. And it all began after we refused to pay them money (before the ICO started).
4. Please prove to us that your application for a gaming license with the Isle of Man Gaming Commission is indeed being processed.
Our business model states that promotion and sales of FireLotto will be mostly made by affiliate partners under White label. These affiliates have a gaming license at the country where they operate. Thus legal issues and responsibility relies on them.
Our legal team is checking the necessity of farther steps to obtain itself a gaming license at a present moment. A legal status of Ethereum and other crypto currencies is still not defined by most of the countries. For example, in Russia, crypto is not recognized as an asset and can not be used for debt recovery in case of bankruptcy.Ethereum block chain is anonymous and decentralized. The platform was integrated into Ethereum block chain and can not be influenced or shut down by any government or men. Thus there is no risk for platform to stop operating. As people play and win in FireLotto using Ethereum from legal point of view they do not play for money. They play for numeric electronic codes. Such legal approach can not be recognized as illegal. Every legal system says that everything is legal unless it was directly forbidden by the law. There are no laws at this moment that regulate such activity. Once regulation of crypto will be more clear we will proceed with obtaining Firelotto a gaming license.
5. In a scenario where 50m tickets remain unsold, and therefore frozen for 1 year, the team will hold 20/50 = 40% of the commission collecting tickets in the first year and 70/100 = 70% of commission collecting tickets after one year, meaning the commission for investors will be halved one year from now. Why are the unsold tokens not burned?The unsold tokens will befrozen for one year and will not participate in revenue distribution. After one year these tokens will be sold to investors. Commission from tickets sales will be distribute only to token holders – actual investors that hold their token on private crypto wallets. We need to enlarge prize fund of the lottery and burning tokens that could be sold to investors doesn’t seem logical.
6. Why does your token contract only have 5 transactions? FLOT tokens were pre mined and now allocated and frozen in investors account till the ICO is over. After ICO they will be available to be moved to investors private crypto wallets.
7. FireLotto claims "full decentralization and transparency", which seems quite an unrealistic claim when token distribution occurs manually, the team can update the software and we're not allowed to see any source codes.We placed detail information how smart contract for token distribution will work. And now its been actively discussed in Telegram channel. After we receive all votes and opinions of the community we will present this smart contract for community expertise and independent professional audit.
8. FireLotto uses three different addresses, first Cyprus, then Singapore and finally in Hong Kong, with the Singapore address apparently being in a beauty mall... What's the explanation for that?SEC regulation of crypto currencies and ICOs changes every day. We were advised by our legal team to use Gong Kong jurisdiction for the company that will notify SEC about token sales. Every running multinational business has more than one company. Depending on the legal approach different companies and jurisdictions can be used. The main idea - SEC compliance was achieved.
9. How are you allowed to sell tokens to US citizens without using KYC?Under SAFT agreement. Token sales procedure was checked by SEC and our notification was confirmed.
10. Mr. Eduard Ageev, CEO of Passado Co Ltd which is the Fire lotto operating company has nothing to do with Fire Lotto and is not listed on the website firelotto.io Its our internal decision who to place on web site.
Mr. Eduard Ageev, CEO andPassado Co Ltd were closely checked by SEC under their procedure. We submitted legalized foundation documents, financial reports, beneficiary info and many other documents to SEC. Also there was a personal meeting with them. Once everything was checked by SEC officers our notification was filed and confirmed.
NOW LET ME ASK A VERY SIMPLE QUESTION: IS FIRE LOTTO A SCAM OR NOT?
FIRELOTTO.COM - IS THE ONLY IN THE WORLD FULLY DECENTRALIZED RUNNING LOTTERY BUILT 100% ON BLOCKCHAIN. May be that is why so many scamersare trying to bad mouth about it? To avoid its global extension and changing the lottery business model from been own by government and huge gambling monopolies to SOCIETY?