Quote from: Rassah on May 17, 2016, 05:34:51 PM

Quote from: TurkistatnRising on May 17, 2016, 05:27:00 PM

Quote from: Rassah on May 17, 2016, 04:21:35 PM

Quote from: whored on May 16, 2016, 01:18:42 PM

Not strictly an "exit scam" tho. Mycelium explicitly states that its digital tokens give you no rights whatsoever, are basically a gift to Mycelium. How is that misleading?

Where do you get the idea that these tokens give you no rights whatsoever? When buying, you have to sign a contract with Mycelium that has a legal binding. It gives you legal rights to any increase in company valuation, and makes the token a transferable contract that grants you ownership rights to 5% of the company (which would go down if you pull your increased valuation cash out, of course).

From your website, bottom of the page:
"Token is not a security, is not listed, authorized, issued or traded on any regulated market." It's explicitly a token, not a security, because you are not registered with the SEC. "Increase in company valuation" is meaningless if I have no idea who is doing the "valuation," the methadology of this "valuation," or what, for that matter, is exactly being "valuated." From your site again: "The crowdsale offer refers to the Wallet project only," i.e. NOT Mycelium the company.

These are legally SAR contracts and give you all the same rights. It's a contract granting you ownership of a portion of the company, and any growth therein. And why would Mycelium register with the SEC when it's not a US company?
Company valuation is explicitly spelled out in the contract as trigger events, and happens any time another sale of company happens (we plan to sell 20% of dilutable shares next), or when company becomes profitable, or when someone buys out the company. The wallet division is wholly owned by a separate Mycelium entity, which is what is being sold off here. Mycelium the company owns things like Entropy, Gear, Swish, and Card, which are still too early to even know if they are profitable, and will be funded by personal and other private investment. The wallet is being sold in this manner because we believe it is the only product so far that actually has the potential to make money. You are free to invest in the whole company as well, just know that it's extremely risky right now.

why the two jurisdictions?