Dear Wysker Team
Why is it that you would like to create 3,000,000,000 WysTokens, which means that in cash given the 1 ETH = 18'123 WYS exchange rate you expect to collect 165,535 ETH, which is currently (with the ETH price @ coinbase of this very moment I am writing this post) arround 120,000,000 EUR with a UG company?
If I am correct you want to sell slightly above half of it in the ICO (1'782'692'308 WYS), which brings the above figure down to let's say 60,000,000 EUR. Ok, let us even take the 30% and 15% discounts, make it an average of 20% and deduct this from this 60mln EUR. We still end up with 48,000,000 EUR.
And you want to persuade the community, that your highly educated and experienced founders do not have 25,000 EUR to set up a regular limited liability company in Germany, which requires a minimal capital of 25,000 EUR? I can only draw the following conclusion: the team - or at least the founders - do not believe in this project enought to put 25K EUR out of their own pockets in order to get 50 mln EUR from the market! What kind of approach is that?!?
For the readers, who do not understand the difference between GmbH and UG companies I paste some links below from official sites
https://www.stuttgart.ihk24.de/english/fairplay/Company_Law/GmbH_and_UG_haftungsbeschraenkt_Information_on_their_Foundati/679026(IHK stands for Chamber of Commerce and Industry)
https://de.wikipedia.org/wiki/Unternehmergesellschaft_(haftungsbeschr%C3%A4nkt)
(You can translate this into English easily)
The bottom-line dear friends is, that a UG is considered as a joke in the German reality - no one wants to deal with you as an UG because you are not treated serious - to have a capital of a few Euros...Ask any notary or lawyer or experienced enterpreneur in Germany if you do not believe teh above. I know what I am saying, because I had such a company set up myself.
Oh, and by the way - if you would like to see where the seat of this not-yet-48MLN EUR company is, then here you go -
in a HOSTEL?!?https://www.google.pl/maps/place/Novalisstra%C3%9Fe+14,+10115+Berlin,+Niemcy/@52.5282767,13.3887483,3a,75y,228h,90t/data=!3m7!1e1!3m5!1su7K8hGe69p5OqrIJvDA59Q!2e0!6s%2F%2Fgeo2.ggpht.com%2Fcbk%3Fpanoid%3Du7K8hGe69p5OqrIJvDA59Q%26output%3Dthumbnail%26cb_client%3Dsearch.TACTILE.gps%26thumb%3D2%26w%3D86%26h%3D86%26yaw%3D228.45786%26pitch%3D0%26thumbfov%3D100!7i13312!8i6656!4m5!3m4!1s0x47a851e94ed83f83:0xf3af760922b9a863!8m2!3d52.5281506!4d13.3885664
Congrats on you credibility...again!
Would be great to read your
reasonable explanations on the above.
Cheers!
P.S. I can understand that someone did not advise you well, but how can one trust you even 1 EUR - not to speak of 1 ETH - if you even cannot pick the right advisors for a "multi-bilion-dollar opportunity" as we can read on your webpage?
this is Ann-Lauriene, COO and co-founder of wysker. As you have pointed out some interesting thoughts and concerns, I would like to use the opportunity to provide some clarification. First, wysker being an UG and not a GmbH has the very simple reason. We started the company almost two years ago and back then founded everything from our own pockets. Choosing a UG to startup back then was the fastest and easiest way to set up a legal entity for our endeavours. For that, we also invested 6k EUR personally and financed us privately until the beginning of our ICO. However, youre right a GmbH has a more solid appeal and were currently in the process of converting wysker UG to wysker GmbH.
Second, our office being in a Hostel sounds off course scary. However, thats just the problem of Google Maps were the hostel shares the same address. Since November 2017, we also moved to another location at Paul-Lincke-Ufer 8d in Berin Kreuzberg as we needed a bigger office. You can check out our Facebook or Twitter were you can find some impression from the inside. Its 220 square meters filled with real people working on wysker full time. Lastly, regarding the high hard cap, I totally understand your point. Weve set this cap back in in September where the Ether value was much lower. Due to the parity hack we had to extend our ICO we did not want to change many conditions to make all further token purchases fair to our existing investors. However, were currently considering to adjust the hardcap accordingly.
I really hope the short statement reduces your concerns. Im well aware that in the ICO space, there are a lot of sketchy and spammy projects and I understand that each project should be analyzed with extreme care. I can assure you that wysker is real and that every member involved in the project is committed to make it a success. Let me know if that was helpful or if you have any more concerns.