IMPORTANT ANGEL TOKEN UPDATE - JANUARY 23rd 2021

Dear Angel Token Holders,

First of all, apologies for not posting earlier about the refund, but Covid and other outside forces has caused this delay.

We know many of you have waited for news on the liquidation and refund on the Angel Token Investment Portfolio, and we finally have some news.

We have finally calculated and documented all relevant addresses and the amounts that will be refunded, and we have designed a process for how this will happen.

THE REFUND PROCESS AND LIQUIDATION OF THE ANGEL TOKEN FUND AND INVESTMENT COMMUNITY WILL BEGIN ON FEBRUARY 22ND 2021.

On, (or slightly before) Feb 22nd 2021 a token address will be announced here and on other ANGL forums which is the address where everyone who want a refund should send their ANGL tokens.

This token return process will continue for 60 days with a potential extension of 30 days, up to a maximum of 90 days, or no later than May 30th 2021.

Once all ANGL tokens have been returned by Angel Token ICO investors and ANGL token holders we will verify all transactions. Within 30 days of this verification process, but no later than June 30th 2021 all refunds will be completed.

Refunds MAY start already during the 60-90 day token return process, but this is NOT guaranteed.

ALL REFUNDS WILL BE ISSUED TO THE SAME ETHERUM ADDRESS THAT RETURNS THE ANGL TOKENS. THERE WILL BE NO EXCEPTIONS TO THIS RULE.

Once the Angel Token return address has been publicized here and on our other information channels we urge everyone who wants a refund to send back their tokens as soon as possible. This will allow more time for us to verify each transaction and make sure that the correct refund is issued.

QUESTIONS:

I didn't vote for a refund. Will Angel Token disappear after the refund?

In short, No.

First of all, a token like Angel Token never disappears from the Etherum network, Angel Token will remain operation there for all eternity or as long as Ethereum remains operational.

However, I also want to give a very long explanation to this answer by going through a few things about the Angel Token Team, our history and why we have made the decisions we have done. This will be quite long, so you may want to grab a cup of tea before you start reading.

1. As all of you know, not long after our ICO back in 2017 we entered a prolonged "crypto winter", which lasted for a long time and made investments difficult.

We also made several bad crypto investments which lost us a substantial amount of the ETH we raised in the ICO.

Some of these investments were suggested by the Angel Token Team, and some where suggested by ATPIC members.

The result of most of these investments was a 100% loss of our ETH invested in these projects.

As you are all aware, we also lost various crypto assets on the Cryptopia exchange.

It was a difficult time for the team, and of course also for all of our members in the ATPIC community.

2. We always wanted Angel Token to be run as "an investment club" where everyone with a minimum holding of 10,000 ANGL could suggest crypto investments, and we could all vote on these investments together as a community/club.

This worked reasonably well in the beginning, but it was not a sustainable long-term model since every vote had to be counted and checked by hand against that members holdings etc.

If we had raised more ETH the management fee would have been higher, and we would perhaps have been able to continue operating in the way we did.

Unfortunately, our team fell apart as we entered the crypto winter and funds were running low.

One of our key advisors also became ill and was no longer able to contribute to the project in the same way, and it was a very difficult time for us all.

For those of you who remember what the crypto landscape looked like back in 2017, when we launched our ICO, it was relatively easy to create value in one of the smaller altcoins simply by building a new website and create more awareness of a project through marketing etc.

During the crypto winter this changed dramatically, and only the strongest projects survived.

Doing marketing or building new websites or doing some of the other things our team had expertise in no longer had any major impact on the value of an altcoin project.

3. On top of this there seemed to be imminent crypto regulation on the horizon, which we, being an anonymous team was not keen on partaking in.

Not because we wanted to do anything "fishy" or illegal, (we have always been 100% up front and honest with everyone who trusted us and believed in our vision), but simply because for a smaller project such as ours, which is really just small group of investors coming together as a club, becoming regulated would have put an unreasonable burden on us.

Since we blocked all US investors from our ICO using both with IP blocking technology and legal disclaimers which made it illegal for US citizens and/or residents to invest in Angel Token, we hoped that we would be able to operate legally and without the risk of penalties or being shut down.

WHAT IS THE POINT OF THIS REMINDER OF THE ANGEL TOKEN HISTORY?

Myself and one other key advisor in the project are considering taking an alternative route with the project after the liquidation and refund period.

Let me explain:

When we undertook the vote on whether to liquidate Angel Token or not here inside the ATPIC community it was a majority vote, but not everyone voted for us to liquidate.

We had a number of members who wanted us to try and revive Angel Token rather than simply shutting down and refund the ETH raised.

We were skeptical at the time because decentralized exchanges were not yet available, or at least not with sufficient volume to be a realistic option for us to trade on.

With the new KYC requirements coming in at virtually all centralized exchanges this felt like a big hurdle to us, especially since many of them banned anonymous ICOs from trading on them, even if you completed their KYC.

However, things have changed recently and there are now decentralized exchanges that allow anyone to trade ETH based tokens and with sufficient volume.

These two factors combined:

1. The fact that not all ATPIC community members wanted us to liquidate ANGL and return the funds.

And

2. The fact that there are now alternative options where we can safely and legally trade without jeopardizing the project or end up with funds frozen etc.

This has led me and one of our advisors from the Angel Token Team to potentially try to revive the coin in the future.

BUT HOW ARE YOU GOING TO OPERATE IN THE FUTURE IF YOU REFUND THE INVESTORS?

The liquidation and return of the funds invested will still go ahead as planned and as promised earlier and as per the explanation above.

However, as one of the main founders of Angel Token I still hold a substantial amount of crypto investments, and I may decide to use some of these funds to revive Angel Token in the future, together with a key advisor.

SO SHOULD I KEEP MY ANGEL TOKENS INSTEAD OF RETURNING THEM FOR A REFUND?

We believe most ICO investors and Angel Token holders are rather fed up with the project and disappointed with us as a team. This is completely understandable and was highlighted in the vote for liquidation, and the complaints of lack of progress of ANGL for a long time.

The ATPIC community also didn't work out as we had all hoped and planned, and most investors just want to get as much of their funds back as possible.

However, all disappointed investors can rest assured that everyone who wants a refund will get 100% refund of your allocation of what is left of the Angel Token Investment Fund back.

BUT

For those of you who want us "to try" again you are free to leave your Angel Tokens with us, instead of returning them for a refund.

If you do, this is what MAY happen in the future:

1. Only myself and one advisor will be part of Angel Token going forward after the refund, and we may or may not decide to try and revive it.

2. We will not co-operate and work with other crypto projects to improve their projects as per the original whitepaper. We may assist with some marketing, but only because we believe in a particular project we invest in. We will not be building websites etc for projects, as we did originally and as was described in the whitepaper

3. The new Angel Token Team may (if we decide to continue operating in any way), passively invest in projects that we believe has a high chance of a MASSIVE RETURN ON INVESTMENT.

We won't be investing in safe and stable projects like Basic Attention Token (BAT) which have high chance of succeeding over a long period time, unless they also have the potential to explode in value over a short time.

Instead we will mainly invest in extremely high risk projects that may crash and burn, but that could also give us a 5x or 10x return on our investment within weeks or months.

So although you CAN decide to not take part in the refund if you so choose, you will forfeit any rights to a refund from the original Angel Token Investment Fund if you haven't returned your tokens by May 30th 2021.

YOU SHOULD THINK OF ANY FUNDS YOU DECIDE TO KEEP IN THE NEW ANGEL TOKEN FUND AS "YOLO FUNDS" (BY NOT RETURNING THEM FOR A REFUND) AS AN ALMOST CERTAIN LOSS OF 100%.

We know that this sounds "harsh" and that it's not a particularly good incentive to keep your Angel Tokens, rather than returning them for a refund.

That's ok.

The type of trades we will be looking for if we decide to continue operating are such high risk that your funds have a high chance of being lost in every trade we make.

HERE ARE SOME OTHER THINGS YOU SHOULD KNOW IF YOU DECIDE TO NOT REFUND YOUR ANGEL TOKENS

4. We likely will not pay dividends in the way that Angel Token had initially envisaged and as outlined in the original whitepaper.

This is partly because it is very complex to do this manually in a way that is safe and accurate, and partly because it may take us from simply being "a small crypto investment club" to something that really should be regulated, despite the fact that we don't have any US investors.

Instead we will consider other ways to try and compensate Angel Token holders, and make sure that they/we get a good return if we were to succeed in the future.

One option we will consider is to do a 2nd liquidation at some point in the future, perhaps if/when have reached a certain milestone, such as 50x or 100x return on our funds.

5. If we decide to continue and succeed in our future trades we hope that ANGL will start trading on the new decentralized exchanges, and that eventually the price will rise to reflect the value of the Angel Token Portfolio.

We may also try to create a tradable asset that reflects the Angel Token Portfolio value, but only if we manage to raise the value substantially so this makes sense for the remaining investors.

SO YOU BASICALLY HAVE THREE OPTIONS NOW - AND YOU WILL NEED TO DECIDE WHAT YOU WANT TO DO BEFORE MAY 30TH 2021:

1. Go ahead and return your ANGL tokens for a full refund that is proportional to your share of the Angel Token Portfolio after the trading losses, management fees and the 10% liquidation fee that was announced at the time of the vote. THIS IS THE RECOMMENDED OPTION.

2. Simply keep your ANGL tokens in your wallet and not return them before the May 30th 2021 deadline.

NOT refunding your tokens means that you will automatically remain as a club member and investor in the NEW Angel Token "YOLO" Investment Club, but you will have none of the rights and privileges that were described in the original whitepaper and that we have stuck to as promised since day 1 to the best of our ability.

3. You can return a partial amount of your ANGL tokens and receive your proportional amount of ETH and BAT from the Angel Token Fund, and keep some of your Angel Tokens in the new Angel Token "YOLO" Investment Club.

RISK WARNINGS:

Considering the type of investments that we plan on making it's very likely that you will lose all funds that you keep invested in the New Angel Token "YOLO" Investment Club, by not requesting a refund.

We are serious about this.

IF YOU DECIDE TO KEEP YOUR ANGEL TOKENS AND NOT REQUESR A REFUND YOU SHOULD CONSIDER ANY FUNDS AS "LOST".

SO WHY WOULD I NOT RETURN MY ANGEL TOKENS FOR A REFUND THEN?

You SHOULD return them for a refund!

We mean it.

If you don't return your ANGL tokens for a refund by the May 30th deadline you will most likely lose ALL the funds you originally invested in the Angel Token Project.

OK, HAVING SAID THAT LET'S TRY AND EXPLAIN WHAT WE HAVE PLANNED IF WE DECIDE TO REVIVE ANGEL TOKEN IN THIS NEW ANGEL TOKEN "YOLO" CLUB AND WHY YOU MAY WANT TO EVEN CONSIDER IT?

1. We have always felt an enormous responsibility towards the people who invested in our ICO, and despite being anonymous we have never ever wanted to, or intended to, break that trust.

As most of you are probably aware most projects with anonymous team members were frauds set-up to scam their investors.

This option was obviously available to us as well, and during some of our setbacks a few investors have insinuated that this was our plan as well, to defraud our investors, or simply walk away with the funds that are left.

However, as will become clear to everyone who believed in us and our vision by June 30th, it has never been our intention to operate in any other way than as a highly ethical team.

We have always been honest and operated Angel Token and every other business we have been involved in with the highest integrity. Our reasons for being anonymous was never to misappropriate investor funds without getting caught.

We believe that karma is an important part of life, and karma is always in effect, whether someone is looking or not. We simply believe that identity is overrated and can cause big problems in and from some tyrannical jurisdictions.

However, after the losses we faced during the "crypto winter" it almost made us "freeze up" to try and preserve what we could from the Angel Token Investment Fund, until we had a plan and decided what to do.

The plan that ATPIC members voted for was liquidation, and this will now go ahead as planned.

However, for everyone who would rather have their share of the Angel Token funds back, we want to offer an alternative.

This alternative means we will be "unrestrained" by our whitepaper and the promises we made to the ATPIC community. This will free us up from our obligations in terms of any potential future investment decisions that we may or may not make.

Once again.

Anyone deciding to NOT opt for the full refund should do so with the understanding that there is an extremely high risk that we will lose ALL of the funds, and this is assuming we even decide to revive Angel Token and continue operating in this new "YOLO" Investment Club that we have described.

This very clear understanding between us and the few remaining investors who may decide to keep some funds left with us gives us the freedom to operate in a different manner to what we planned and promised the original Angel Token ICO investors.

This means we can take serious risks with these funds, which MAY also bring serious returns...

2. The advisor who will be working with me going forward, if we decide to continue, has spotted several investment opportunities very early. Opportunities that have given enormous returns in a very short period of time.

One of these opportunities that was a token spotted at $0.01 and since that investment was spotted only a few weeks ago it has returned around 16x the investment.

Another similar investment was spotted early that netted a 7x return on investment in only a couple weeks.

The advisor is also an active member in the r/wallstreetbets Reddit community and has spotted several highly profitable investment opportunities on the stock market early on. Investments that have returned significant amounts of money.

Do we believe that we have some special insider knowledge that will give us a massive return for the new Angel Token "YOLO" Investment Club?

No, not really.

More likely we have just been very lucky with these private investments that we have made. Simply having been at the right place at the right time. But we're not sure.

Maybe this type of research and investment approach will work again? If it does, the returns could be enormous for those that are willing to take the risk.

THIS is the reason we are leaving the door open to potentially revive Angel Token in this new "YOLO" format, which may or may not happen.

However, as repeated in this message, expect and anticipate to lose any and all funds you keep inside Angel Token without requesting a refund.

You should return all ANGL tokens that you are not ready to lose for a refund. It is a MUCH safer option.

You don't need to let us know what you have decided, but feel free to post your thoughts and comments here or in the ATPIC community. We will read them even if we do not often answer.

To be clear. We are not trying to convince ANYONE to stay or keep an investment in the new Angel Token "YOLO" Investment Club, and it may not even happen, in which case your invested funds will be entirely lost.

We will likely also be shutting down the Slack communities after the refund period has closed. In that case we will open something new instead, only for the remaining members who decide to not refund and keep their funds invested in the New Angel Token "YOLO" Investment Club.

Just like with the ATPIC community there will be a minimum limit of 10,000 ANGL tokens to have access to the new Angel Token YOLO Investment Forum where we will communicate in the future.

So if you want to be part of this you will need to keep a minimum of 10,000 ANGL tokens.

As stated above, we will update on the ANGL Token return address on or before February 22nd 2021. This is the address where you should send your ANGL tokens if you want a refund of what is left of your investment from the Angel Token ICO.