Guys
I'm investigating several ICOS, and how they works, and how they lie. I have the  Araw token in the top of my queue, how the ICO twist the information, let face it.
1. They started the campaign with about 75k 'members in telegram',after 1 month they reach about 80k, we all know that several of them are been purchased becoming zombie members.
2. Araw token started with 390,000,000 ARAW SOLD in 'private events', We can assume they sold the tokens at generous 60% of the token value .01 USD,  and fix the ETH price at 700USD, (real price was about 400USD), the real money they got in the presales event was:
(.40 * (400/700) * .01 * 390,000,000) = 891,428 USD and not 3,900,000 how they claim in several parts
3. Finally  the number of token sold at Aug 30th, is 952,000,500 , they sold a lot of them in their 15 days of campaign when the discount value was bteween 40% - 50%, let use the value at 40%. and the ETH value is 300USD aprox
the value .6 * (300/700) * .01 * (952,000,500 - 390,000,000) = 1,445,156

Total: 1,445,156  +  891,428 = 2,336,584 USD

and not the 9,000,000 USD that the people claims in this forum and in other public Web Site
Can we trust in this kind of company?.

--Best
The ICO trust team.