Investors have been refunded in full. Thank you all.

The managers of Teehe declare that this IPO is now terminated.
As stated in Prospectus document, IPO will be terminated before April 1st, 24:00 UTC.

IPO has failed as minimum of $90,000 was not pledged by investors.

We will start payback procedures within 12 hours, depending on manpower available and we expect to finish it within next 48 hours.

We have received a decent number of requests today as last minute request to participate, and they have all been declined. We are sorry if we did not answer to everyone with explanation and we consider this post a proper explanation for our declining.

Some statistics:

Total pledged and deposited funds stand at just under $60,000; also $3,000 authorized but not delivered and $4,800 offered but declined by the managers in last 48 hours.


Great majority of funds have been deposited in form of Bitcoin.
Bitcoin also experienced great loss of value during this period, sliding down from $290 to low of $236 endangering value of pledged funds.

Just under 30 persons have participated in this crowd funding.
Total number of inquires was not much larger, at about 45.
About 190 messages was exchanged with investors in private.
This forum has 134 comments and is second most viewed post on this forum of all time.

Even though we promised total anonymity, about 40% of applicants either used standard alias or provided more than enough information to deduct their identity.
Some applicants presented their real name.

It is guaranteed by the managers that no information will be leaked and all evidence will be destroyed after payback is complete.


We thank you all for supporting us and asking right questions. Thanks to those who doubted us for keeping the balance.

Just over one day left!!!

Teehe.net

The business plan can be viewed here: http://teehe.net/pdf/teehe-businessplan.pdf

The milestones section is on page 15.

The first milestone of acquiring development team has been secured. The second milestone will be achieved upon sufficient funding. The next milestone, the inception of the blockchain will be completed sometime before the fourth milestone. The fourth milestone, completion of a Beta platform can be completed within 4-5 months. As for the fifth milestone of acquiring 10,000 customer accounts, this should occur approximately 6-12 months after the site launches.

Hope this clears it up for you. If you have have any more questions we are here to provide answers.

All you need to know about Teehe is in this thread with links to everything of importance

Only 4 days left to invest!

Just five days left to get involved...

The clock is ticking at Teehe.net

Completion of second week:

We are proud to announce that contributed funds stand at $44,149.

Crypto portfolio: 19,792 PPC 17,501 NBT and 73 BTC

The 10% bonus will only be applied to investors who participate before the $60,000 milestone is reached.

We are glad to see funds doubling every week, Teehe is growing stronger as more people recognize our project.

Regards,  Teehe management

Timeline of Seed Funding:

March 11: Teehe launches IPO, most active thread here @ https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734

March 14: FAQ section created http://teehe.net/pdf/teehe-faq.pdf

March 15: Acquired new team member https://bitcointalk.org/index.php?topic=984944.msg10780059#msg10780059

March 19: Contributed funds stand at over $22,000 with 11,042.30 PPC, 1500 NBT, and 62.99 BTC

March 20: Professional artist joins https://www.peercointalk.org/index.php?topic=3999.msg38484#msg38484

March 22: Prospectus document translated to Mandarin http://teehe.net/pdf/teehe-prospectus-CN.pdf

Terminology of IPO discussion:

@Teehe is my take on your offering1 (regarding the question of "IPOing" before a product has been released) a fair assessment in your team's opinion?

I see Teehe's fundraising as similar to—but not exactly like[1]—an angel or Series A round, rather than a traditional IPO. The primary difference from a traditional venture in this case would that rather than seek that funding from an isolated set of VCs, they've solicited interest from the larger cryptocurrency community.

An "IPO" usually is offered after a product has been released and a proper evaluation of its fundamentals can be made.

    --
[1] That they are using Peershares to generate the DAO's shares mean that they are offering a different type of equity than a "typical" convertable note to exchange preferred to common stock in the future.


Response:
@Ben yes this is a fair assessment.

In this regard, we discussed labeling our venture as an IPO, Series Seed Funding, and Crowdfunding. IPO was chosen as it is more familiar to the laymen rather than the financial lingo of Series Seed Funding. IPO may not be the best description of the venture, but it is more simplistic.

The most accurate description of the Teehe plan is as follows. The first round of funding is not an “IPO” but rather a Series Seed Funding. This will allow the platform to be developed upon which a Series A Funding will occur. Shares are reserved for a Series B Funding to allow for expansion and scalability.


Source: https://discuss.nubits.com/t/ipo-teehe-dao-sports-book-and-casino-based-on-peershares/1734/74?u=teehe

Prospectus has been translated to Mandarin

See here: http://teehe.net/pdf/teehe-prospectus-CN.pdf

Ann: Professional artist joins Teehe team. Art and design professor with background in gambling.

Perfect combo.

Completion of the first week of the IPO:

Contributed funds stand at 11,042.30 PPC, 1500 NBT, and 62.99 BTC

Amount contributed at time of contribution $22,518

At current market prices approximately $22,150

Completion of the first week of the IPO:

Contributed funds stand at 11,042.30 PPC, 1500 NBT, and 62.99 BTC

Amount contributed at time of contribution $22,518

At current market prices approximately $22,150

Quote from business plan:

" Teehe is a sports book and casino that facilitates transactions using a peer-to-peer (p2p) digital currency pegged to the U.S. Dollar. Teehe is structured as a distributed autonomous corporation; it will be owned by anonymous shareholders throughout the globe. This structure averts immense regulatory costs and enables total anonymity for all involved parties.Teehe utilizes the proven long-term profit model from pre-existing online sport books while solving the industries greatest problems of regulatory costs and value transfer restraints. "

http://teehe.net/pdf/teehe-businessplan.pdf

FAQ section added at http://teehe.net/

-this is what all IPO is about, an idea, before people put in their money to you, you will need to present at least a small fraction of your idea in reality,

> Our team is open for technical discussion, if you would like to know technical specifications please contact us on our listed bitmessage address.

-people wont fell for this one , this schemes has been here since a long time ago, mostly in altcoin sections, where people only pay for idea, after that, the thread starter gone

> I need not say that scams abound on this subforum, not to mention the potential insolvency of operating a business solely with Bitcoin. Sadly, one member of Teehe management team who frequents this forum fell for a Streak For The Cash scam. It is a sad reality, we are well aware. It is justified to be skeptical, it is warranted with the history of Bitcoin scams. We are happy to answer your questions and quell any concerns.

We have tried to do everything we can to be transparent, yet anonymous. Funds are held in multi-sig by trustworthy members of Peercoin community. You can see how well recieved Teehe is in the Peercoin community by following the thread here: https://www.peercointalk.org/index.php?topic=3999.0

We considered phrasing the venture as crowdfunding, but in reality it is an IPO, we are straightforward even though negative connotations abound from previous failed ventures and scams under the name IPO.

The venture requires time and capital to achieve a final product, it cannot be built in spare time. We have acquired the necessary developers all of whom have agreed to be compensated in a dynamic mix of shares and a wage.   

Funding raised through traditional venture capital firms eliminate anonymity.

Furthermore, an elimination of anonymity is a point of failure for the organization if legislation were to negatively shift in either the cryptocurrency or gambling industry.

In this regard, Teehe management has the foresight to raise funds in an anonymous fashion through Peershares, to prevent third party intervention in the future.

Announcement:

@Hyena has joined Teehe team.

Hyena is a cryptocurrency enthusiast since 2011. He is the owner and lead developer of cryptograffiti.info. Also, he is working on a Bitcoin based online multiplayer betting game and is interested in hosting it on Teehe.

He has master's degree in software engineering and he is currently working in the area of cyber defence as an expert of secure programming.
We have agreed that many attack vectors can be prevented simply by the architectural choices of the software system.

We are sure this is a great addition to our team and will help us deliver a prestigious platform for our future customers.

Announcement:

@Hyena has joined Teehe team.

Hyena is a cryptocurrency enthusiast since 2011. He is the owner and lead developer of cryptograffiti.info. Also, he is working on a Bitcoin based online multiplayer betting game and is interested in hosting it on Teehe.

He has master's degree in software engineering and he is currently working in the area of cyber defence as an expert of secure programming.
We have agreed that many attack vectors can be prevented simply by the architectural choices of the software system.

We are sure this is a great addition to our team and will help us deliver a prestigious platform for our future customers.

Your input will be recorded on the blockchain.
You are required to keep ownership of the Bitmessage address or the email you use to contact us as we will use that to contact you and deliver the shares once our blockchain starts.
Also, you must include return address which we will use to return your coins in case of IPO termination.

Please read our Prospectus, which should answer a lot of questions: http://teehe.net/pdf/teehe-prospectus.pdf


For any more info, please ask. We are happy to answer.