Quote from: Zurcermozz on June 20, 2019, 09:52:17 AM

Quote from: ganeshramk on June 19, 2019, 02:51:06 PM

Quote from: MinedBlock_Paul on June 18, 2019, 05:42:00 PM

Quote from: ganeshramk on June 17, 2019, 02:27:00 PM

Quote from: MinedBlock_Paul on June 17, 2019, 08:39:09 AM

It's dependant on this raise but sure we may present further rounds, we have a lot of space to fill Wink

Are you still planning to go for STO? or IEO? Whats the present plan? I missed the latest information due to some personal work.

Quote from: MinedBlock_Paul on June 11, 2019, 05:27:05 PM

Hello Everyone

Please accept my sincere apologies for my delayed return!

So... where are we??

The token sale had ended on May 31st 2019 for both MBTU & MBTX. The Softcap had not been reached.

Here's why we think our softcap hasn't yet been reached.

We started the token sale in a bear market , mining wasnt as profitable as it could have been and I believe this put people off. We are also knocking down walls and rebuilding them after many fakes/scammers had "ripped off" investors with false hopes or delivery of their roadmaps/Business plans.
Security Tokens are unproven Whilst they are far simpler to manage in a compliant manner they are relatively unknown, the exchange and secondary market wasnt established yet and they require KYC. As a company we want to eliminate and legal risk factors and we believed that investors wanted security in the market.
As we have bootstrapped the majority of this project the compliancy costs absorbed the majority of our funds so our marketing isn't at the same level as established projects undergoing an additional funding round
DCoins team had faked the progress from the start of the IEO, adjusted the sold progress bar, despite asking them not to, and decided it was best to end the sale with the appearance of 98% having sold out. The progress of the projects sales were faked and only a mere $183.50 was actually raised. Due to the lack of trust in this exchange and the lack of sales; we cancelled the listing of MBTX & MBTU on here.
There are many open conversations with institutional investors but we are yet to secure investment. We have been to several countries to meet with these investors but it seems that some were (IMO) trying to scam us??
There have already been a lot of mining projects that have disappeared or closed their doors due to poor management or bad planning we thought starting in a bear market was a better idea, it allows us to structure the business around lower returns rather than becoming unsustainable. We may not have a new innovative product but we do have innovative business model to deliver an existing service to the market with greater sustainability, earning a passive income during a "bear market" and reaping even greater rewards when the markets go green, after all innovation is crucial to the continuing success of any organization

We have a fundamentally great opportunity here we just need to raise the funding to prove it and for that, we need a little more time.

To deliver on this we are extending our fundraising round until August 31st 2019. There are some further changes in which I will detail further;

MBTX Security Token

Our Softcap target has also been lowered from $1,000,000 to $500,000 this gives us a smaller target to aim for to get the project operational.

MBTU Utility Token

The Initial Exchange Offering that we ran with DCoin was a setback, the results didnt match what was advertised and it was, to be honest, a complete flop but we move on from that, we learnt a valuable lesson and wont get caught out again.
We are talking to a number of bigger exchanges, ones with more established success with running IEOs, so we can re-launch this. Realistically, this could be in the next couple of weeks, or it may take longer but we will keep the community apprised of all developments in this.

The security token market is evolving, more exchanges are being opened and there is a lot more competition in the issuance platform space, we are just an early adopter of this technology. We still fully believe in what Polymath are building and their platform is being developed constantly. Once were operational, sharing profits (or dividends) between token holders will be as simple as pushing a few buttons which is great and will allow us to eventually automate the process and further reduce costs of delivery. Lower cost means higher profits and therefore more back to investors pockets.

We are 110% committed to delivering this project in the right way and are fully focussed on the end goal. Hopefully, it means you will all keep supporting our project while we continue what we started 12 months ago, 18 months actually since we started thinking about it.

The response from all of our current investors, whom have been contacted, is that we have their full support to move forward in a timely manner.

So there we have it, we would like to thank our community for their continued support and patience. Together we will grow MinedBlock into a leading service in this industry.

#TeamMinedBlock

Thanks for sharing this information and clarification. Service sector is always growing exponentially. Good trigger is essential. That could very well be crypto bill run.

Thanks for updating this kind of stuff even though the project is struggling right now due to some problem issue. We hope that the team achieve what their goal is!

Right the most important thing now is let's continue to support the team from behind and hopefully the problem can be resolved soon, I'm sure the team will do something