Sure - let me start with an apology. I am doing the best I can. We have a great team working for PAC, and we have recently added some strong new members to our organization. I am no 'mystery man', but quite the opposite. I also have an open-door policy and encourage everyone to DM me on Discord. Please ask our 20+ team members that all have a role and function for our organization. Sometimes I am slower responding to their requests because of my real-world responsibilities. Am I perfect? No, I am far from it - but I try and do the best I can and surround myself with good people. I also believe that enabling others to do what they are good at doing. Asking these team members to donate their time and skills to do something they aren't passionate about is a losing proposition. When our coin and the cryptosphere increased in price rapidly in 2017, the other founders and I DID NOT disappear. We are still here. They work in another thriving, hot industry - one that has grown even more than crypto. I don't fault them for dedicating their time there. Many decentralized team members left and cashed out completely. We all make mistakes sometimes where we invest our money.

Crypto, unfortunately, is a mysterious place with people in masks running around doing all sorts of random things to manipulate and deceive which makes it very challenging for projects. Another perfect example where I am forced to address an "anonymous angry old investor" that name calls and uses threats in public. All of what I am saying here has been openly addressed and communicated thoroughly in our blog as well. There is nothing "mysterious" going on.

We will continue to evolve our DAO into a hybrid DAO model that will provide more value and less waste. PacLYFE will play a more dominant role in social governance and proposal collaboration, adoption and support.

We relaunched our coin in the Fall of 2017 and had no idea what would happen with our risks to do this. Just like any business venture or investment - you cannot force others to join or invest - it is up to them.
The redemption program was an entirely new risk and idea that we had no idea what the outcome would be. Our redemption had expensive costs and risks that the founders absorbed.

I had dinner with the other founders last week to catch up on things. Smoker was in Mexico yesterday for the day meeting with the DEV team. We have had several conversations in the last few days, which were very productive conversations. I value their involvement and passion for the project. Stoic has a major business development deal in process that could be a massive development for our coins adoption as well.

Let me also remind you that we are currently at 6.5% of our total design with thousands of individuals now participating in the network. There are no schemes or plans as you have mentioned.

Our original design mined by the DEV team was 3.5 percent of the total design and gave a majority of this back to the original holders of PACcoin via the redemption. The left-over coins from the redemption which was approximately 15% of our published design allocated for operations and coin dev/mktg support. In hindsight, this decision has proven to be valuable to survive the bear market. We have been unable to deliver many of the projects that were in our future, but we look to reset expectations accordingly and focus on capital to get these things completed.

We had an internal distribution to each founder of 40 million PAC as partial reimbursement for their personal contributions to date. These were primarily for development expenses. Doing this was agreed to be used for coin development and future programs. It was also decided not to use it for reinvestment into the coin. These decisions occurred at the founder level without others involved and alienated some team members. I don't believe this was over-reach, and I put me in a very precarious situation, and I have learned from it. We had already allocated the 15% to the 3.5 million published in our whitepaper, and we were unsure exactly what the final numbers would be and cut off the redemption in lieu via community vote. Now we have a treasury/accounting department in place to add more reporting and expenditure controls on operational expenses. All expenses have oversight and internal and external reporting functions now.

Today, our coins operational challenges are even more challenging, and again we have had to step in with our own personal funds to keep our project functional. None of the founders have walked away. The cryptosphere has evolved very quickly, and we have molded our approach very quickly from being an anonymous community coin to being a "hybrid decentralized organization."

Running our operations has had its ups and downs - but now we have a robust departmental structure, frequent meetings, and organizational responsibility. I am proud of our team, and our community is incredible.

Personally, I have big ideas for PAC, and I look forward to making them come to reality. I do know this, and that is teamwork gets goals completed faster. I also encourage everyone around me to be a leader as it is not on my shoulders as you are putting it. If you have a great idea to grow our project submit a proposal and roll up your sleeves and help us like many of our community members, do today. Some great stories are being created in our project.

We have some solid team members that will become more and more visible in leadership roles in our organization. This is extremely important to scale the project. I will reabsorb myself into future plans and use cases for the coin. They all work very hard and are dedicated, hard-working individuals.

I welcome your feedback and ideas, and I also look forward to carrying out a professional and transparent dialogue where I can. Please withdraw threats that involve the other founders and I. This is for our family's safety, please. No good comes with that for PAC, our the crypto-space.

Much of what I have said above is old news, with some new scattered in here and there.

Smash- I will invite you back to Discord into a special advisory room? There will be other larger investors joining us in that room, so you will have to act professionally. With some effort, we could work well together? We have to discover what you are best at, so we can use this to help grow our coin.

This has been a valuable exercise, I hope you feel the same. Regards,

-Eric

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