you are joking right? cryptopia was hacked and yobit might be the next. cheap exchanges listing isn't worth it, it's better to target for bigger exchange like binance or bittrex.
You are right. Cryptopia - scammers, they stolen some my money on their exchange. And Youbit is shitties exchange with very bad support.
I think they must list ESS to Kucoin. This is good exchange and not very hard to hit there. They have a lot of money (they raised 25 mln on ICO and who knows how many on private sale...) So they have around 50 mln usd! And can pay for listing on good exchanges.
Your maths is off ... by a very long shot.
Forget about the arcane calculations you used to arrive at 50mln. You should realize that what they raised then was the equivalent of the current crypto rate during their ICO. Since then, crypto market has fallen and ETH/BTC has lost a lot of value against the USD. Your assumption is based on the probability that they liquidated to fiat during or immediately after token sale, but we all know most people were banking on bull run and didn't liquidate until they had lost at least half the value of what they raised
I think they changed ETH to fiat after token sale. Otherwise they are really bad team. They must had fixed raised funds in fiat, if they really want to develop good product.