After Anonymous Pirate left the development team, some of the premined coins were moved. We have accounted for a majority of this amount, and hold the wallets with these coins. There seems to be some confusion who much was actually premined and exactly which addresses it went to. It appears that there are some premined coins that are not accounted for as yet. Since this process is not yet complete, we have not released a full statement yet. Currently Payu, owlhooter, and I are in control of a minimum of 30,000,000 of these premined coins, which definitely represents the majority of the original amount, whatever this amount actually was. It is unknown at this time if Anonymous Pirate retains any keys to amounts we do not have in control. It does not appear that any amount of the premine has made its way to and through an exchange, thus, it appears to be intact. 

We are in the process of establishing a legal Foundation and Trust from which to distribute these premined coins. At this time, given the current MZC/BTC market, and lack of convenient MZC/USD markets, we feel it would be inappropriate to distribute these coins in the immediate future. Given past history of settlements, lump sum gifts, and per capita payments in so many tribes, we would like to ensure that this distribution provides more than just a single month's expenses to recipients. We would like to see, instead, mazacoin distributions be used to build an economic base that provides real opportunities to prosper.

We also note that there have been some potentially conflicting statements made in the past regarding the nature of the distribution of the premine: how much to go to people, businesses, and whether it would all go just to the Oglala Lakota Nation. Because of the nature of people, politicians, and governments when faced with financial windfalls, we feel that it's in everyone's best interest to have a properly established Trust, and not begin any sort of distribution until that time. Again, we also feel that because the market price of MZC is currently so low, we should take the time necessary to put the Trust in place, and allow our legal team to assist us in the proper distribution of the coin.

Once we have accounted for all of the premined coins, we will move the entire amounts to multisig. addresses under control of the Trust that is to be created. Once this is complete, we can begin to consider the proper distribution of the coins in a way that will usher in a new era of prosperity through proof of work, and start to end the cycle of poverty through welfare.