I am completely behind the CEO and I hope he can get this fixed and get rid of the scamming founders.
- The ICO raised 100 million USD.
- The founders then created 100 million tokens (as agreed) and started distributing them to the holders (verified Id's etc)
- Next, the founders created 20 million "free tokens" and gave those to themselves. Instead of asking the CEO for parts of the 100 million USD to pay stuff, they just created 20 million tokens with 1 mouse click, without written permission of the board and the auditor. There is no verified track record of where these tokens go and who owns the wallets or who bought those cheap counterfeit tokens on exchanges.
- As a result, a board member and even the company auditor left the company.
- The founders have very shady explanations for these free tokens, like "bounty payments" and "the tokens will be burned" (wtf?) and "it was clear from the beginning, I announced this at least 100 times in the TELEGRAM group." Like WTF does your CEO and auditor is supposed to follow your telegram group hundreds of messages daily? You don't need written approval from the board to do that?
- Also, the founders own the social media channels, so they can manipulate the holders easily
- The CEO off course completely disagrees with all of that, and the founders now want him out so they are in the clear and also can get the 100 million dollars.
- The CEO has now gotten a new board member and a new certified auditor
- Because the free tokens are still in shady founder wallets, the CEO can not allow these scammy founders to own 20% of his company in criminal ways, get dividends etc.
- So the CEO decides to not use the EVN token (for paying the dividens) and give the holders that signed up for the ICO new EVN2 tokens that are not tampered with and that the scammy founders have no possession of. This would also clear him from criminal charges by the authorities for tampering with shares and printing free money.
- Now everybody that bought EVN tokens on Exchanges is mad. But that does not matter: Envion has no obligation to those people, no KYC, ... nothing. Those buyers where just stupid to buy cheap HitBTC tokens of a project that did not even start yet.
- CEO looks legitimate, I hope he can pull this off
I agree this case looks exactly as you described.
Anyways in all statements from CEO, there is nothing about bounty hunters and 3% tokens owned by them. These tokens are in the prospectus and counted in the max supply. I think they have to pay this after all court cases will be finished. If not CEO can be sued by bounty hunters if they go together against Envion if finally not pay bounties.
They have to remember that 100 million $ and such a big success of this ICO was only possible because of bounty hunters and work they did to promote this project. I don't know how many bounty hunters in total participated in this campaign but I think thousands. You can't ignore such an army of people if you are startup and own them money.