Hi all

At the moment of writing group buyers owning 5778 chips have asked for a refund using the form provided. Initially I set September the 2nd as the deadline for communicating the desire to get a refund form AVALON; however, with owners of over 57% of the chips in our batch 1 asking for a refund I will immediately instruct John K to action the refund request from AVALON.

I will ask John K to keep us also updated on the process.

I would expect AVALON refund to be for the full amount paid to them, therefore 782.10BTC. I hope you would understand that the escrow fees and also the small amount I was charging for organizing this group buy are not expected to be refunded. Therefore, the refund will be for 0.07821BTC/chip. If you are not happy with this please let me know but I do not believe I would be able to do anything. Nevertheless, I hope you really understand the amount of work organizing these groups buys has represented to me in addition to the big stress which all the issues faced has represented.

Please note, that the refunds will be done to the verified BTC address you used to make the payment when buying the chips.

Let's hope we will have news from John K latest tomorrow.

Cheers.