Quote from: Rulother on August 05, 2013, 08:45:04 PM

Quote from: ThickAsThieves on August 05, 2013, 08:41:48 PM

Quote from: TheSwede75 on August 05, 2013, 08:31:28 PM

Update:

We went ahead and posted this as soon as possible. We are looking into having the founders account somehow monitored or under Burnsides oversight.

Reg.

News

Regarding shares owned by the Labcoin founders and developers.

Due to inquiries LABCOIN has received from investors, the founders and developers involved in the LABCOIN project has decided to voluntarily lock in 75% of all shares owned by the LABCOIN core team for 12-months.

This means that no founder or developer owning shares in LABCOIN will sell an excess of 25% of their shares for at least 365 days from today's date.

This is being publicly announced to set to rest any concern that the LABCOIN team has any interest in liquidating their holdings in the project.

Q: Why not lock in 100%?
A: Simply because we feel that it is only fair to allow the members of the LABCOIN team that wishes to sell smaller portions of their ownership should they need some Bitcoin for any unforeseen expense during the first year of operations.

If the team forwards the 75% of "locked" shares to the issuing account, it will automatically subtract them from the Outstanding total. Simple solution!

^ This

We will definitely investigate this and I am sure that we will find a solution that is 100% transparent very soon. Labcoin just wanted to communicate their intentions ASAP.