Do you transfer the ltcgear shares directly to the participants?
My concern is mainly if someone holds everyone's shares and something goes wrong (lost, stolen, or ltcgear disappears). Then they are on the hook for the entire amount.
As for the transfer, it's a pretty straightforward process.... in your account area, you can transfer X shares to someone by their username... so the distribution would be pretty straightforward...
As for the second part... that can really be applied to anything crypto, exchanges, preorders, escrow, whatever... it all works... until it doesn't!