Your Crowdsale is a token, so how do you identify an investor who will be your shareholder on a legal paper? What is the conversion rate between a token and a physical stock? And as I read it, 12 months after the Crowdsale end, you list the tokens on the exchange, right?
Q1: Identification is not a problem. We use KYC service to identify and verify the client and for the conversion must be signed legal documents anyway.
Q2: Conversion rate - 100% of tokens will do 49% of the company shares.
Q2: Yes, the Exchange process is an open point and we are searching legal way how to proceed. It is a pioneering, so each step is new and often we stack on regulation issues and starting again and again. But there must be the way to proceed and we will find it.
I am pretty sure, that wild-west ICO funding practices gone and all new projects will have to follow Equity model to get funding. It is another step to stabilise and regulate this market. Otherwise it will not survive. People are loosing the trust to ICO due to fraud, that's bad, because Idea and principles of ICO are unique and could work. But need warranties.