Quote from: ammosov on October 22, 2017, 01:35:39 PM

Quote from: fahmp7 on October 19, 2017, 03:21:14 PM

Quote from: tradecoin.me on October 18, 2017, 10:27:55 PM

Can you tell me how this project is "asset backed" when they are pulling money out of thin air giving out up to 25% bonuses?

Only the crowdsale tokens are "asset backed" (that's 51%) and on top of that you have bonuses up to 25%! These bonuses are not "asset backed" either.

They must have been called out on this before, no? I can't be the first who has noticed this. I don't have time to read trough 100+ pages to find their response to this. Someone knows?

I think you got it wrong. Page 23 of WP. The were presumably willing to invest 70-80% of what they got from token sale on condition that money for COP are deducted. Since COP (Core Operating Budget) was estimated to be 8 million dollars, they are left with 3 million. So in fact it would mean they are investing 25%

As a RE professional I was quite active here in early September trying to open eyes of those who saw this project as 'incredible'. I asked loads of questions to Melissa, but she wouldn't answer. And I'm not surprised as these were serious questions regarding financial terms. I tried to warn all those who apparently had never have any experience in RE, but after a while I realized that there is no hope for them.

Lastly, even if they were to invest 11M and get 12% yield, that makes 1,32M a year. 10% (their profit) would be 132K a year, that is 11K dollars a month. ELEVEN THOUSAND DOLLARS. Do you really think it is possible to hire bunch of RE and Blockchain specialists for that amount of money? I mean.... C'MON Cheesy

The whole event was apparently intended to unload to an SPV a hotel on Balearic islands that is otherwise illiquid. ) The promoters effectively re-sold the property to the crowd and kept it at the same time. )

They are like evil geniuses if that's true. Hopefully there's an independent valuation or some other oversight to determine the price if it's not an arm's length transaction.