Topic: Mycelium Crowdsale , Are you investing ? - page 5. (Read 19958 times)

These are real Stock Appreciation Rights. They work like real shares, except while real shares grow and shrink in value themselves along with company valuation, these SARs are just fixed price contracts by themselves, but which grant you right to any company growth on top of them. Essentially you get the same thing, but with the added benefit of being able to cash out your valuation increase any time, instead of waiting for the company to repurchase stock. E.g. if company value grows, you use the SAR token to prove ownership, and request that growth to be paid out directly as cash. The value of the toke itself remains fixed, +/- whatever speculation may be added to it while it trades on the market, such as expectations of another growth spurt.


They are SARs (Stock Appreciating Rights), not direct shares. Just a different bit of legal mumbo jumbo.


This is not for an American based entity, so no.


The number issued will depend on the number sold time 20 (or divided by 5%), but the sold amount will not exceed 7,500 tokens. These are in the Mycelium Wallet division, which is wholly owned by our Mycelium corp registered in Latvia. It is separate from the rest of Mycelium.


They give you a legal right to any growth in company valuation disbursed as cash directly to you, should you ask for it. Later on, should Mycelium Wallet start making a profit, they will get converted to some type of dividend paying asset. Whether that's an IPO for actual shares, or something else, will depend on a few things, like how much revenue this actually makes.


Just to add, the no refunds is because this is a valuation sale. If everyone could refund at any time, the valuation could theoretically drop to zero at any time.

So these are real  shares?
Any reason for calling them "tokens" rather than shares?
Is this registered stock (did you file with the SEC)?
Could you also clarify number of authorized shares/shares issued? And in what company?
What legal rights do these "tokens" entitle me to?

Edit: sry, never mind, just found some of the answers, right on your crowd sale page ( https://wallet.mycelium.com/elements/licenses.html )

"The crowdsale offer refers to the Wallet project only. No refunds. Token is not a security, is not listed, authorized, issued or traded on any regulated market. We do not guarantee that the value of tokens will increase. "

Care to answer the rest? ty.

Repurchasing tokens only repurchases the contract that you bought, not the gains that the contract entitles you to. There is nothing in the agreement that erases your gains. If your contract is worth $100 and the gains are worth $1000, you can still get your gains, which are always separate from the contract itself, before selling the $100 contract.



If this was a donation, you would get nothing in return. With this you are getting a share of the company. So no, I should make it clear that you are buying a share ownership of the company, and not making a donation.

Don't you think you should?

The company may repurchase the subscription amount the tokens on the Mycelium Wallet at any time. Any price gains can thus be erased at any time again if the company decides to buy back. This is very bold. For me, therefore, subject to the conclusion that I will continue to use the app, but will not invest in life a Satoshi in this ICO.

https://www.youtube.com/watch?v=9QS0q3mGPGg

No, your investments go to the wallet only, but some of the resources that the wallet depends on are used by other products in the company as well. Fir instance, the investment will pay for the wallet backend servers, which the wallet can't work without, but Mycelium Gear uses the wallet backend servers to track whether payments have been made too.


No I haven't

So we are 'donating' to the wallet only, but our donations go towards other things for the company at whole?

And please stop calling it an 'investment'. You have made it clear that it is a donation.

Hi. Mycelium rep here. Sorry, I kinda abandoned bitcointalk for a while. Most if not all of the questions asked here have been answered on Reddit. If you can't find them, ask me and I'll answer them here as well.

Regarding tokens, you aren't buying an altcoin, you are buying an SAR with all the standard legal rights granted by such an investment. The tokens will be issues as colored coins, you are free to trade them on the market, while the tokens themselves don't grow in value (why we say we will buy them for the same price), they are just proof for your SAR right, which does grow in value. So if you buy a token for $1 and company doubles in value, you'll have same valued $1 token, and a $1 SAR right in the share of company which you can ask to withdraw in cash. Long term the company expects to make a profit, and if that happens, tokens will be converted into dividend paying assets instead. The reason funds can't be promised to be spent on the wallet exclusively is because some backend servers are used for other Mycelium services as well, and legal, accounting, and management are shared among all Mycelium products. Also, many of the other products will be rolled into the wallet eventually too.

Any more questions, feel free to ask.

I'm seeing lots of those who haven't bought from the ETH ICO think this is their golden opportunity. Not to break the excitement but I kinda don't think this is it.