Topic: Rentberry ICO Update - page 2. (Read 608 times)

This ICO has a product. We can confiscate it and sell it.

if they can manage to have multiple complains, they can do something depending on where they live, lets hope for best.

I think you will never get the money back. And this telegram team is just a collection of victims who bought an ICO and are trying to find hope to be able to claim their money back, but the opportunity is not much.

consider yourself lucky

i got scammed for 20 BTC by RFR TOKEN [ All my life worth ]

https://coinmarketcap.com/currencies/refereum/

please report them if you ever held tokens, sign a message from ownership address and open scam accusations !

Join a group to get your Rentberry ICO moneyback https://t.me/icorentberry

WTF!?! What does SEC think about this? Now they are fooling US citizens

I lost >$1000 investing in Rentberry ICO. In return received candy wrappers

It's a reg-CF filing and requires a lot of disclosures. In the documents they filed with the SEC as well as on their offering page they claim to have 2019 revenues of $4,398,259. They also claim a 2019 profit of $1,769,739. The issue is that in their financial disclosures these revenues and profits are just from the sale of the ETH raised during the ICO. The actual revenues from the Rentberry platform are almost nothing as they claim $1,530 in monthly revenues and $250,000 in monthly expenses.

Another interesting point is that they project $5 million in 2020 revenue. This seems very strange considering the monthly revenue so far this year is $1,530/month. My guess is this either means: a) they have ICO funds somewhere that they will run through the system as "shill revenue"; or b) they made a forward-looking projection that is potentially fraudulent. Forward-looking statements generally need to be based on a past track record and unless they plan on another ICO scam they have no way of meeting this projection. The track record of their platform seems to be one of little revenue and traction. The only thing they've been good at is duping investors out of their money. This statement has the potential to lead to all types of trouble as it seems to be very misleading and potentially fraudulent.

That has proven if any update that created by this project will be useless.

is the team telling you about that? If they were operating at a big loss and it's better for them to stop it.

They have made a false claim which can't be tolerated. This project must be avoided by everyone.

The reason they've raised over $700k is because they're claiming their ICO proceeds were revenues. So basically, Rentberry's position right now is if you bought Berry tokens you bought a type of worthless airline miles. Their actual revenue in the past 3 months is $1,530/month, but that's in the fine print. Instead, they show over $4 million in revenue which is likely from the ETH they were holding after their ICO.

It's really very shady, and just a money grab. They're currently claiming to be operating at a $250k/month loss so I feel bad for the folks investing in this offering.

Their concept is good but as all real estate ventures have failed they have done the same in the market. I am not sure what made the 534 individuals invest in it. Currently real estate is one of the worst affected sector due to the covid 19 situation. It might take a while for them to raise funds now.

Actually they have almost raised the amount of funds they were looking for successfully which is not good they should have been held accountable for the previous ico funds first, it is anew trend now that some projects from 2 to 3 years ago that raised millions in their icos are now ditching the ico investors and looking for new alternative funds and disowning previous money that they raised which is criminal act.

They already got a handful of investors here raising about $800k from 534 investors. Do you think investors can refund their investments if they decide to do so? I hope people are more careful in dealing this project, should have done at least a background check on them before throwing money again to this team.

One of the biggest crypto failures is at it again. After raising over $20MM worth of ETH and seeing their token holders lose over 99% of their investment, Rentberry is no longer focusing on blockchain and moving onto new victims- reg-CF investors via Wefunder. Rentberry claims over $4 million in revenue in 2019 (revenues from selling their crypto holdings it would seem). But in their audited financials, they're only doing $1,500 a month in real revenue over the past 3 months. What sort of due diligence is Wefunder even doing?

https://wefunder.com/myrentberry/about