Gerald Davis a.k.a. DeathAndTaxes of BitSimple (BitSimple.com) and Tangible Cryptography (tangiblecryptography.com) sought out and accepted $600,000 in fiat and bitcoin from investors in January 2014. These funds were acquired by selling stock in Tangible Cryptography and were to be invested in BitSimple.com.

BitSimple.com shut down bank transfer operations in May 2014. The investors were not informed until August 2014. Mr. Davis was asked to consider dissolving the company in August 2014 after he reported a theft of around $25,000 and no banking accounts. Gerald Davis did not respond and failed to communicate to shareholders from August 2014 to January 2015. During this time a six figure amount of US dollars was redirected to Mr. Davis and members of his family.

In February 2015 Gerald asked us to vote for a company dissolution and scheduled the fist company meeting. The shareholders refused to vote for dissolution because promised finical reports were not delivered.

Gerald Davis then asked for more time due to personal reasons and this was granted. However at this time Gerald Davis is no longer communicating or responding to investors. Because of this we felt it was time to inform the community of this very unfortunate and confused situation. We hope that it will be resolved soon.

The best way to resolve this in a civilized way would be for Gerland Davis to provide the legally mandated finical reports and access to the police report that was filed when the funds went missing.