Participation in any ICO is ultimately a matter of trust in the team.
For me its not a lottery. If they dont proof the 16 million, I will not invest, its easy. There are many other projects out there to invest.
So if they dont proof, they dont get my money, very easy.
I think that's recently quite a common way of investing and I have to say, I am thinking similar. I think there should be some proof if people claim they have such an high amount of investment already.
We have been talking about this topic some time ago and asking devs for some info about it and we don't have any answer yet.
I think we will see some updates closer to the pre-sale but you are right. It is important to be transparent here.