Topic: [ANN][ICO] OROCRYPT – Digitized Precious Metals On The Ethereum Blockchain - page 13. (Read 43235 times)

I'm the founder of Ambisafe (http://ambisafe.co/). We work as a technical partner for multiple projects in crypto space (Polybius, TaaS and Chronobank are some of the recent examples, you can find the rest here: ).

Some of our clients are new to this community and don't have accounts at bitcointalk, so the announcements are posted on behalf of my account time to time.
It does not mean that they don't know what they are doing. Orocrypt team, for example, has very solid expertise in Financial industry and Investment banking.

Class A shares will own 45% of the company and will have all rights and privileges of common shares.  It is not a gesture.  There are several reasons for the founders shares having 10x1 voting and the Class A 1x1 vote.
1.In case of one or two investors buying the entire ICO offer, they could take over the management and control, which the founders are not prepared to do at this time.
2. The founders do not necessarily all will vote as one block.  For instance, if in three years there is an offer to buy the company at 500 euros per share and half the founders do not agree, then the 45% Class A together with the half that agree could accept the offer.  The same with any other time where a shareholders vote is required and the class B shareholders vote is split.
3. Class B shares cannot be sold or transferred.  Only held by the Founder who owns them.  If the Founder wishes to sell or give them, they are automatically converted to Class A.  If the Company is sold, as in the above example, then there would only be non voting shares.
4.  Non-voting shares are less valuable.  If in the future there is a new round of financing, the new investors may require the issuance of a new class of voting shares.  This new class would be more valuable than Class A shares.  If subsequently the Company is sold, the new buyers may not be interested in any of the Class A shares.
5.  The two largest investors with over 56 000  Class A shares, will each have the right to a Board seat.  This gives considerable power in the affairs of the company and allows them to contribute towards the growth and success of the business.

The founders together with the ICO investors have all equal rights apart from voting rights.  If the company declares a dividend or is acquired, both classes A and B will receive the same amount.

Hopefully, this clarifies the offering share structure.

I sent you a pm regarding bounties.Kindly check it and reply me.Thanks

It is a very wise remark. We will take it into account for sure. We see how many people are interested in our project and your recommendations help us in self-improvement The same thing concerns bounty campaign. We are still working on the list of our all bounty campaigns, twitter is expected to appear in it too. Stay tuned for all updates and news.     

Thanks for your interest in it! Facebook bounty campaign and other ones will start next week. We are making finishing touch, for example, we think to add more bounty campaigns, particularly Twitter campaign. So, please, give us a bit more time to summarize all the requests. You will be informed as soon as possible.

You are quite right, expected Share Token sale starts 14th June and will last for 1 month or until all tokens are sold. It is planned that the minimum number of share-tokens to be sold in the ICO is 133 500 and the maximum is 500 000. We are full of high expectations on that score.

Please keep in touch with us as new interesting updates will appear in a short time.

According to the announcement there are 845118 class A shares and 266882 class B shares. Class A shares have 1 vote per share while class B shares have 10 votes per share. Therefore the total number of votes are 1 x 845118 + 10 x 266882 = 3513938, of which 10 x 266882/3513938 = 75.95% is the class B voting percentage. I made a mistake in my previous calculation.

So in actual fact the number of shares being offered for sale (500000) only have a 14.23% vote.

I just cannot see the reason for the different classes as the 500000 shares on sale have such small say in the company. In fact the class A shares which represent ~76% of the total number of shares have a combined ~24% (including the allocation to treasury, rewards, payments for services and employees participation) say in the direction of the company.

It just feels like there is no use in giving the class A shares any voting rights and it seems like a "token" gesture.

According to the general information, the company has two classes of shares which will be allocated in a definite way. 45% of Class A shares are being offered for sale. 24% are held by the board as Class B shares. Other 31% are reserved for a future employee incentives pool, finance, bonuses, compensation and etc. Both classes have identical economic benefits and what is more, the holders of our Class A common stock and Class B common stock will generally vote together as a single class.

If you meant something else, please specify, how you calculated 68%.

You know better about your decision of running the promotion at facebook and didn't choose twitter. Your team management surely thought at every aspect but twitter is much more better for ICO's as more investors and crypto related stuff and people are active at twitter. Facebook isn't good for this kind of stuff to promote and market.

interesting project, gonna come back later when more details are revealed

Looking forward to participate in crowdsale.Need to be very quick as I am sure all shares will be sold with in an hour. Also interested to join bounties. Hope they be declared soon

Is there a bounty campaign for translation ? Just want to reserve Filipino translation.

How to participate bounty facebook campaign ?

Hello, Orocrypt offers 0.5% for all bounty campaigns collected during the ICO, i.e. 30% of the bounty pool to be allocated to the Facebook campaign; 40% to be allocated to the Blogging Campaign and 30% - to the Bitcointalk Signature campaign. Twitter campaign is not expected at the moment. Possible updates coming soon. Thank you.

Ico will start 14th of next month?How many tokens will be sold during the crowd sell?
Watching this thread for next update.

waiting for news bounty translation and etc

What is the need for voting rights if the founders have ~68.3% majority?

I've seen so many coins claiming they represent gold or silver or other precious metal, none actually did, they all fail because the only purpose of these coins is to grab some quick and easy money.

Thanks for your good wishes!.  We are trying to be in the middle of the Fintech and traditional worlds.  9 euros is high in Fintech but low in traditional IPOs.  We are selling 45% of the company.  Please consider that Facebook was launched at $27  and now trades at $148  Google (now Alphabet) was launched at $50  and now is $954.  The best, Amazon was launched at $4 and now is at $959.  Twitter was launched at $40 but now trades at $18.