REVIEW : Funtracker.site Foundation equity shares ICO

EQUITY SHARE

The holders of these shares are the real owners of the company. They have a voting right in the meetings of holders of the company. They have a control over the working of the company. Equity shareholders are paid dividend after paying it to the preference shareholders.

Funtracker.site

A well established group of stellar.org anchors, a franchise that deals and distributes  THB, USD, BTC, ETH, XLM and many others asset type, . The assets distributed in the franchise are backed by multi signature locked crypto assets that provide insurance in the event of sectional failures in asset distribution collection.

FUNT EQUITY DISTRIBUTION 

The shares trade under the stellar.org asset symbol FUNT with the issuer bank*funtracker.site on the https://stellar.org Network.

They have issued 10 million shares of which 200,000 equity shares will slowly be sold on the stellar market in about 100 – 1000 share blocks at a time in incremental periods, to be sold for 40 baht each or equivalent value in other assets. 5M shares will be given to the founder and CEO of funtracker.site Scott Carlson with restriction he can not sell any of his shares on the open market for at least 4 years (Aug 2020) or unless a vote of the board of directors not counting Scott Carlson’s voting shares allow him to do so.

5Million shares

Means Scott Carlson remains the largest share holder until Aug 2020 if he choose to sell or if a vote by the board of directors allows him to do so before Aug 2020.

MY VIEW:

4.5

PROJECT

If you are looking for a place to invest your xlm , this could be the ideal place since its based on equity meaning you own part of the company and you can vote on what the funds received are actually used for rather than most ICO where there is already a process of spending the fund.

TRUST

the original post gives details of  who is behind the project (Scott Carlson ) and contact details of how to reach him, A very active user on the Stellar slack channel and a good history since nobody on the platform have come up with a trust issue with him.

To get in touch for more details here is a link to him on slack https://stellar-public.slack.com/messages/@sacarlson/ .

WITHDRAWAL

Funtracker.site agrees to buy back any outstanding issued shares at a price of at no less then -10% less than the original ICO price of 40 baht, or about 36 baht (90 cents on the dollar of the original ICO sales price) of up to a limit of 10% of total liquid bank assets , crypto holdings less what has already been spent on research and development and operational expenses over time on the books.

LAST THOUGHT

This is equity based and for a price of 40baht for a share of the funtracker bank that could rise significantly due to trading activities and anchors links they have worldwide, also you are part of the company and not just a fund raiser . Hopefully they have a better looking website soon.

More info about this ICO can be found HERE

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