Re: [HAVELOCK] Crypto Currency (CFIG) Official Thread

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Office, Computers, Legal Firm, Accounting Firm, License Application, Banking Platform

Where did the money for these things come from? Where is your office located?

We have personally raised the funds.
And we are located in Panama.
If you would like to stop by for coffee and talk about Bitcoin and our plans PM me and I would provide you with our contact info.

Sorry to say that I'm not anywhere near Panama, I'm just asking for very specific detail ("public" is the key word in IPO). You are asking for $3mil hehe.

How much money, exactly, has been raised so far, and what percentage do those shareholders get?

Also, do you plan to service walk-in clients or will the business be 100% through the internet? Sorry if you've answered this already I may have missed it.

Also, what month are you targeting for launch?

We have put in place enough assets on paper to secure a license.
The IPO funds raised will help us offer our services at minimum to no fees. So it wouldn't cost the average customer any upfront fees to simply open an account, or to maintain a minimum balance, all customary fees when opening a private international bank account offshore. It will also help us offer the additional services at low or no markup cost, like currency exchange, visa debit cards, etc... all services that a regular bank can offer since they use your funds to earn interest on. We will keep your funds in place. No fractional reserves.

We hope to offer our services during the 4th Quarter 2013, or sooner.

So you're going to use the IPO funds to provide discounts to customers for opening an account and some additional services? That doesn't sound like a very sustainable idea. What happens when IPO funds run out? Do customers start paying the full price for opening accounts and such then? How do you expect investors to see an increase (or at least constant level) in their share value, when their investments aren't translated into solid assets, but rather used to pay running costs.

Using a one-time money injection to pay continuing costs is not sustainable. Surely people with banking experience should realize this. What am I missing then?

It almost sounds like $3M crowd founded charity.

The more the entity raises, the lower the prices they offer consumers, and thus the lower the profit margin and the lower the return to shareholders. So that makes it a great deal to be a shareholder.

The funds raised will lower the Fees on Account Opening and Management side of the Business. We want to keep those as low as possible, to make it as "Credit Union" like fees
if possible.

The Shareholders will receive Dividends based on our profit from the actual exchange fees from the profit sharing agreement we get paid on every time an exchange between Crypto Currency and Fiat currency occurs on any one of our partner Exchange Platform.
For example: Imagine if an Exchange software platform out there (We are currently in talks with several exchanges) will no longer be required to keep AML/KYC and just provide the platform to our customers. Both parties, we as the Financial Service and They as the Exchange Platform will profit share the fees charged
at the point of conversion. Those profits will then be paid back in the form of Dividends to our shareholders.

We plan to offer any Qualified Exchange Software platform company to open an account with us and provide exchange services to our customers. We feel that the more Exchanges that we can open the better the competition that will lower the cost and raise the quality of the software delivered. Our customers will have a wide variety of choices of which Exchange Platform to use based on Price and Quality of platform.