If this project has initial funds to begin their operations, then why would they still need huge money from their STO? As lestherat have said, your group might have never have to work again if you raise this $16M. If in case you can raise that amount in this bearish period.
dear tippytoes, with regards your question about why we need huge money from the STO.
The money that is raised will not go to Isonex Capital, it will go to purchase the cryptocurrencies that make up the fund. 97% of the funds raised goes to purchasing the assets, not to Isonex Capital. Isonex capital is already fully developed and 100% self funded.
We are responsible for managing the money in the fund, which belongs to the investors, not us.
But the control of that fund is entirely on your hands, right? In short, you have the capability to move the funds from wherever/whenever you want to? Is that right? What is the tangible assurance that you will not run away just like many others? That those investors can hold onto that their money is safe and secure and they have peace of mind that their investments will not be zero anytime?
Dear tippytoes, essentially you are talking about fraud. Can we commit fraud by running away with the funds. As Directors and Founders we are not above the law, we are liable if we commit fraud, please see below.
I refer you to the following published by our legal counsel (Loeb & Smith) regarding our responsibility as token issuers -
https://www.loebsmith.com/cayman-legal/digital-assets-five-questions-to-ask-your-cayman-counsel/143/It says = "ICO founder teams and promoters looking at the Cayman Islands for incorporation of their company or companies were warned that, while the Cayman Islands had flexible pragmatic rules encouraging business and innovation, they also had stringent anti-money laundering (“AML”) and know-you-customer (“KYC”) requirements. In addition, other regulatory requirements may be applicable and the company and even its
directors and founders may be held liable, under certain circumstances, for any misleading statements made in the White Paper or in additional documentation communicated to token purchasers."
Obligations under the Cayman Islands Companies Law (2018 Revision) (the “Companies Law”)
Directors are generally not liable except in cases of negligence, fraud, breach of fiduciary duty, or an action not within their authority which is not ratified by the Company.As you can read from above, the
Directors of Isonex Capital are liable for fraud or breach of fiduciary duty.
