I have just been through the new verification on Bank to the Future. Everything seems to be the same. Shares still present. No updates for a while though. I cant see anything about having to pay a monthly management fee.
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Can anyone remember how many SNT would be issued for the shares?
I guess 144 SNT.
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It was 105 I believe
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So there is no suggestion of scambuggery?
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Hmmmmm - not sure.
I purchased into ābitCacheā in 2016 - also hosted by BTTF - Kim Doncom behind this endeavour.
It has dropped completely off the radar with no communications from Dotcom for years and BTTF avoiding any comment or doing anything about it.
Not the behaviour of an upstanding organisation, Iām afraid.
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No, not at all . .
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I donāt believe so. They are just hosting the investments. Its not there responsibility to manage the projects on the platform. If companies are not making updates thatās on the companies imo
Who runs the SPV that people invested in? Wouldnāt that be BTTF. Maidsafe doesnāt own the SPV as far as I know.
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Im not 100 percent sure as its been a long time since I bought some shares. I would think the SPV is owned by the share holders and the directors have control over it. I would imagine that Maidsafe are the directors. So as long as you can prove ownership of shares then Maidsafe would honour the ownership.
They could of cause bankrupt the SPV with no risk to Maidsafe. An SPV is used for financial isolation. However I cant see a reason they would want to do that.
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AFAIK the connection between the SPV and Maidsafe is only the shares the SPV holds of Maidsafe. But you are right then who would be the directors. My memory has BTTF as taking up that role. But its a bit of a mess
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Even if BTTF are the directors I donāt currently see any reason why that is a problem unless of course I am missing something obvious earlier in this thread.
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I also got a small share through BTTF. Invested in a few more projects there. What will probably (have to) happen is that the tokens will be sent to BTTF who will then divide them between the shareholders. They will probably take a 5% fee for distributing the token. This is what they have done on other occassions. Itās probably somewhere in the fine print of the SPV. Itāll probably take some time for them to process, they have been slow in general.
As for announcements on the BTTF platform I think Maidsafe is responsible for those. Not sure if they still have access to the project side of things on the platform? If not itās best to reach out early so that they can get everything in order with the BTTF people ahead of the token distribution.
Iām glad to see this project being finished on BTTF, one more down. I still have a few left there and will be happy to leave the platform behind.
I read in the update that we will get 105 tokens for 1 share. Anyone have any idea what constitutes one share? Just curious if we will be making a profit on this one 
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I think the big question is who are the shareholders of SPV and are there enough of you to sack the directors and vote in your own board.
Am not involved in this, but did once set up a couple of Cayman SPCs for investment purposes.
Why would we want to do that? I mean thatās a big hassle for just 5%, which we agreed to in the terms mind you. My share is not that big so I wouldnāt want to spend any money on any lawsuits or anything.
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sorry, i just thought that BTTF was treating you shareholders like shit. If you have enough shareholders you can take it over. 5% is 5%. Doesnt need a law suit, just a shareholders meeting.
Iād be curious to see the prospectus of the deal.
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The site is pretty shit, but I think they will process the payout just fine. The 5% is not worth the hassle for me really. To be honest I think if people try to do this itāll probably take longer for us to actually get the coins. The owner will probably file lawsuits, etc.
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From memory it was underfunded and the SPV didnāt get 5% of Maidsafe but somewhere around 3%?
Also the SNT being distributed is on top of the SPV shares you received and AFAIK you still keep those shares thus collectively have those 3%? of Maidsafe shares
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The 5% I was referring to was the usual fee that BTTF takes whenever they are distributing something (tokens, divident, exit payment, etc).
Hereās a screenshot of what MaidSafe raised on BTTF. So they wanted 2.5m for 6.25% of the company. They raised 1.6m which is just shy of 4% of the company. I invested a 1000 pounds which according to BTTF comes to 47 shares. Now I am not sure if that is straight up MaidSafe shares or SPV shares. If itās MaidSafe shares it means a nice 3x with current EMAID prices if we get 105 tokens per share.
As for keeping the shares after the token distribution, thatās not how I read it. They called it an exit, which means the shares will be exchanged for the tokens and thatās it.
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Thanks for your input regarding the tragic BTTF lot.
Regarding your statement āAs for announcements on the BTTF platform I think MaidSafe is responsible for thoseā - I think you are correct about this. In which case I hope Bux knows this as she seems like someone who gets things done - it would be great to see some life in the MaidSafe section of BTTF again - if only to remind BTTF / Simon Dixon of his obligations to us neglected early investors.
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