I also want to say this. I missed out on swapping 1.5 mill whitecoins because I was overseas. It was alot of money I lost out on. So please respect your early adopters and have a grace period. Not everyone is capable of following, and they should not lose out as I did. I do like a good coin burn, but be careful of who actually gets burned.
We are doing everything we can to ensure late comers can still swap. The biggest challenge will be for those who don't own their DNotes in their own wallet by the 16th. The process for post April 16th swaps will be lengthy and cumbersome as well, so we are hoping to have mostly everyone taken care of by the 16th.
Vujk, I am sorry to hear about your lose of 1.5 million whitecoins. That is most unfortunate. I have personally lost a lot of money in different cases - quite a sick feeling.
It is our wish that no legitimate owners of DNotes will be left behind beyond the April 16th soft dead line. The verification will be complex and time consuming with long wait time. However, there must be a cut off date sometime on the future, to be announced later. Meanwhile, 75% of the unclaimed DNotes will be used as DNotes guarantee funds, so that 25% will be available to support coin swaps that may continue to come in.
We appreciate every DNotes stakeholder for their support no matter how many DNotes they own. One day many more will appreciate DNotes as the trusted brand dedicated to the benefit of everyone.
I agree with a hard deadline. Your team sends emails, unlike some other shady coins, read up. I am glad to be on board. The vision outways the price of a coin. ICO's are done, what you guys are doing , thats the future, and wil be the new standard. I see value in that.
Thank you, Vujk. We are a hard working team doing a lot of things behind the scene to build a solid brand to the benefits of everyone. If you have not done so be sure to read our Pitch Deck and White Paper HERE: Pitch Deck:
https://dnotesglobal.com/PitchDeck.pptxWhite paper:
https://dnotesglobal.com/white-paper/It is important to understand that DNotes is not and has never been involved in any ICOs. That distinction is important to remain as a digital token and not be at risk of being labeled as a "security token", the sale of which is illegal unless registered or exempt with the SEC.
I wish that ICOs can be structured and conducted in manners that meet existing security laws, either through registration or exemption. Unfortunately, without significant changes to existing laws, it is simply not possible. To date, the issuers of ICO tokens are exclusively decentralized entities without any central authority. However, the money collected goes to individuals, partnership or incorporated companies purportedly are working on some great ideas presented in a white paper. The investors have no ownership or voting rights in the private entity that received the investment.
Here is the conundrum. Technologies often get ahead of regulations. In the case of ICOs, way ahead, and in a massive way. Over $6 billion has been raised worldwide. None of the ICOs have been registered with the SEC. Unlike corporate shares, there are no provisions, existing rules, and regulations governing decentralized entities. Furthermore, SEC does not have the means of obtaining and maintaining full disclosure of all essential information that are important for the investors to make an informed decision.
SEC Chairman Jay Clayton recently made this statement: “Investors should understand that to date no initial coin offerings have been registered with the SEC.” https://www.crowdfundinsider.com/2017/12/125792-sec-chairman-jay-clayton-issues-statement-initial-coin-offerings-cryptocurrencies/
I understand that it is very frustrating, as ICOs can be an amazing contributor to capital formation. Granted that being the case, it is still a bad idea to engage in ICOs that are clearly deemed illegal unless registered or exempt with the SEC. This could end badly. I fear that this is the greatest risk confronting our industry.
There are distinct options of raising funds by selling securities in support of the token or coin legally. In the case of DNotes, we believe that Reg. A+ Mini-IPO Title IV Tier 2 is the ideal option for us. And we have been planning for it for over two years using an incorporated company, DNotes Global, Inc.
To protect consumers the SEC, requires the filing of a registration statement with full disclosure of all relevant information along with two years audited financial statements - subject to on-going reporting as the means of making available all information for investors to make an informed investment decision. We believe that as much as this is burdensome, it is also essential to protect investors.
We are unique in different ways. Related to this subject, our cross ownership is very unique. As a whole, DNotes Stakeholders own 25% (before dilution) of DNotes Global, Inc. a "C" corporation, incorporated in the state of Delaware. In turn, DNotes Global own 20,000, 000 DNotes. This cross ownership will go a long way in the success of DNotes and DNotes Global.
DNotes Global is working on two rounds of funding. Our first round is Reg. D 506 (c) to raise up to $5 million from accredited investors to fund our software development, continuing operations, and the high cost of launching our second funding round - A+ Mini-IPO - to raise up to $50 million from accredited and non-accredited investors worldwide.
All the details are spelled out in out white paper HERE:
https://dnotesglobal.com/white-paper/
