So you are planning to raise between $1.5 million to $5 million for 15% shares - which means you currently value your company at $10 million to $33 million.
Can you share more information about your current legal company - the listing, address, members of your team, current expenses & financial matters? What you have in whitepaper is preliminary - since you are only selling 15% shares - you should have a good reason and basis for valuing the company at such price.
We are a very early stage company and we have no profit at the time, so our valuation can only be based on the future cash flow.
Our previous investment round in February was based on $1.85M valuation (we raised money from professional VC).
We have tested a lot of hypotheses and made sure that our business is working. Now we are looking money for scaling.
Basically, the more money we'll raise, the more countries we will be operating next 12-18 months.
For example, we need $1.5M for establishing business in 4 countries (including current). If we'll raise $5M - we'll start a business in 15 countries approximately.
Our preliminary financial plan is included to whitepaper and we will create a more accurate financial plan after pre-ICO.
Also, we will include in whitepaper more information about current legal entities , team, etc, but we should make more legal researching before it.
Please keep in mind that ICO is not legal in some countries and some information can be very 'sensitive', so we can't share it with public until we will have a good legal base.
So, to prepare for a full ICO we should allocate a good budget for it, that's why we decide to make pre-ICO first. Of course, we already have some offers from professional VCs, but they do not allow us to spent their money to ICO-campaign.
I hope I answered your questions well, but if not - feel free to ask me more.
Next 2-3 weeks I'll be in New York and I'm available for short in-person meetings. Also, anyone can RSVP to our demo day and ask me 'sensitive' (and non-sensitive) questions
, here is the link:
https://www.eventbrite.com/e/redefining-demo-day-silent-demo-day-at-noisy-techcrunch-afterparty-in-nyc-tickets-32897165307Disclaimer: U.S. citizens are not legally allowed to participate in our ICO.
