Quote from: Blazed on November 23, 2016, 03:20:27 PM

Quote from: MalReynolds on November 23, 2016, 01:15:17 PM

Quote from: cannabanana on November 22, 2016, 11:25:33 PM

Quote from: Geenstijl on November 22, 2016, 11:01:41 PM

The threshold will not be met? All funds will be refunded?

Yes sadly that is the case. If we don't have 2000 btc by 11 DEC then we will issue an opportunity for refunds to all participants.

Everyone at ARK understandably do not wish for this to happen as we have spent a very long time on our project so far in preparation for our TEC and would be pretty devastating to have to refund everyone, but that is what must be done.

We have discussed the possibility of refunding those who would like to have a refund and also still launching with the amount of people who do not request a refund or after all refunds, we will can sell tokens ourselves from mainnet over time as we are developing during mainnet.

We might have to refund everyone, but it will not kill our project. We will just have to figure out some other method after refunds are completed per the agreement.

Escrow Agent Mal here, watching from the sidelines.

Please (re)state for the record the exact actions that will be followed by the ARK team (and any required actions by investors) if 100% project funding is not reached by Dec 11.

You are now having internal team discussions about possibly launching with less than full funding and taking people along for the ride who have not requested a refund. That implies that a failure to reach full funding may require active requests for refunds by supporters. This is totally different than the ARK team automatically reversing donations to their original BTC or Lisk address and surrendering all funds entrusted to you.

I hope you succeed in raising your required funding. However, it must be crystal clear to everybody beforehand on what will happen if you do not.

I was wondering the same thing, but sending funds back to the source address will not work for a lot of us. I purchased Lisk via Shapeshift and would need mine sent to a different address should this not fill.

In case we don't met threshold and participants will request a refund there will be some kind of a return address they will either need to input via TEC website or send a deposit return address from the same email they used in Ark TEC else we'd be refunding a lot to exchanges, ShapeShift and that is not happening - our participants are our responsibility and we'll provide means and instructions so the refunds won't end on Poloniex/Bittrex/Shapeshift, ... deposit addresess if it comes to that - but lets first try and focus on getting to that 100% so that won't be necessary

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