Hi Galfry,
What a disappointing update.
You promise investors monthly reports, disappear for several months and then come back with earnings that are about 10% of projection and a statement that you will now move to quarterly reports? Do you have any respect for the terms that you laid out in your prospectus or announced on this thread. You make big proclamation and then deliver close to nothing. Surely now that it is mid-May you would be able to post at a minimum statements from March?
A few questions:
How will you deliver weekly dividends if you are reporting financial results quarterly? A big part of your original pitch was to deliver 40 % of profits to shareholders (at your discretion).
Do you presently project there being any profits in the foreseeable future? When? How will you distribute them to shareholders?
Can you indicate the breakdown of how the approximately $7000/ month in salary is being spent? Can you tell us who is on payroll? Can you indicate which staff are accepting equity instead of salaries?
The projections in your prospectus seem to be wildly optimistic and implausible. Will you be releasing a revised projection that is more in-line with your operational reality?
You had promised to make your operations transparent and post your wallet. Will you do this?
Mintspare Update - Friday, February 14th
Lowering Costs
Our costs have been and will be significantly lower than projected, in part due to significantly budgeted furniture & computer equipment, opting out of a cargo truck and instead using an employee vehicle, and paying some employees fully with my personal equity instead of salaries.
Dividends
Dividends will be held back until our official launch in March. They will then be paid on a weekly basis.