At the initial ICO there was an equivalent of about 3055 BTC raised.  

The total funds raised per currency:
BTC: 1590.919664
LTC: 7807.588
XRP: 1325280.390
ETH: 6477.095
MAID: 765482
DASH: 1916.643
WAVES: 31145.630
DOGE: 23577240.970
ETC: 4126.090

Conversion rates per currency into BTC*:
BTC: 1
LTC: 0.01688190
XRP: 0.00010822
ETH: 0.12242700
MAID: 0.00019581
DASH: 0.07139310
WAVES: 0.00167559
DOGE: 0.00000109
ETC: 0.00760768

Total BTC raised (at these exchange rates): 3055.120324
Total USD raised at the BTC-USD price (Bitstamp): 7790556.826

As you can see, about half of this 3055 BTC value was in altcoins that many have not been converted to BTC yet, and their value against the BTC has gone down considerably.

August 13th, 2018 conversion rate:

BTC: 1
LTC: 0.00903533  (53%)
XRP: 0.00004485 (41%)
ETH: 0.04612566  (38%)
MAID: 0.00003805  (19%)
DASH: 0.02342568  (33%)
WAVES: 0.00032511 (19%)
DOGE: 0.00000037 (36%)
ETC: 0.00200381  (26%)

ETH alone raised about 790 BTC worth, and has declined in value so much that it is now worth only about 299 BTC.  So now we are down to ICO value at only 2564 BTC if you just look at that (But they may have converted some of the ETH for milestones so it is unclear what the actual number is).


60% of all ICO funds have been released per milestone schedule.  Which leaves 40% to be refunded to investors.  You can say 40% of 3055 is 1222 BTC but that won't be how it is done since the alt coins lost value.  The current 40% value is close to 1000 BTC.  And then there is a percentage of funds that were released for milestones that the team did not use and are included in the refund.  Escrows have done the math and told us the value of all funds to be released back to investors including unused forks is about 1400 BTC.  Now if altcoins surge in value and they do their conversions from remaining alts to BTC at that time we will have more than 1400 BTC.  If BTC starts to boom and altcoins lose their value, and they convert at that time, we may see less than 1400 BTC refund.

1400 divided by 15 million NVST tokens is .0000933 BTC per NVST refund.

I hope that makes sense.