Recent Crypto Press Articles:
There has been one or two claims in a single crypto press article that accuses Chainstarter Ltd of being involved in ICO projects that are associated scams despite the fact these projects launched their own ICOs without using third parties. The original article written by a Mr On Yavin has zero credibility and simple market research shows these claims to be baseless.
The articles also discusses the well publicised dispute between Mr Lofts and 21Million Productions Ltd. Old ground. 21Million TV pilot is being filmed in August in Shoreditch.
Chainstarter Ltd: response to accusations of supporting scam ICO projects
The article ignores two facts. Firstly the Envion and Crypto Millions handled their own ICOs internally and they did NOT use a third party token launch provider. And Munchee was signed to Ambisafe in Palo Alto California to handle their ICO.
Secondly, Chainstarter is a technology provider and provides Primary Issuance platform for engineering tokens and for accreditation and KYC/AML. Chainstarter does not handle marketing or promotion of ICO projects and tokens.
The projects mentioned were not using Chainstarter Primary Issuance platform. Any serious journalist would have done their research and would know this. But the article was published knowing this information was false.
It is a matter of public record that Envion and Crypto Millions handled their own ICO, wrote their smart contracts and management inbound monies, token distribution and key management.
Chainstarter is a technology company focuses on Security Token Offerings (STOs) and the Primary Issuance platform is used for only sophisticated and accredited investors. It does not handle ICOs, only STOs.
Envion CEO wanted to use the Chainstarter KYC solution. I wrote to him declining his request to use our tech.
Munchee was a signed up client of Ambisafe a token launch company in Palo Alto, Calif. The Cease and Desist order from the SEC and subsequent ICO report of the project shows, the project was closed down within 24 hours and all the monies sent back to buyers.
Other suggestions centred on Living Offset project where I was an adviser, that didn’t go forward to a token sale, also there were suggesting they were issuing a security token, when in fact they project pivoted to a Utility play registered in Isle of Man. Unfortunately another great and valid project, to reward users for off setting their carbon footprint, just couldnt get sufficient traction.
The 21Million Project: Response to accusations of misdirected funds
It is on public record that I, as 100% shareholder, sacked David Lofts for non performance and for a range of other gross misconduct issues including theft, mismanagement of company funds, acting against the company while a director, breach of fiduciary duties which are documented and in the hands of lawyers.
There is nothing reported worthy of attention. Mr Lofts was not a shareholder and had no access to bank accounts and other financial information. His claims of mismanagement and misdirection are again false. Mr Lofts was not a shreholder and had no access to company information, accounts or banks.
It was also reported by Lofts and Yavin the 21Million project raised $37.5m in one article and $3.57m in another. Etherscan (smart contract address here) shows that back in June 2017 the project raise a little over $400k to make a TV series trailer, when Ether was at $320.00. 21M tokens will be re-listed when the trailer has be completed.
Mr Lofts stole the orginal story he claimed as his own…
I received a CCJ from Mr Sands due to Mr Lofts had engaged them to write the 21Million story line, the characters and the look book, as he then passed the content off as his own, and refused to pay them. I settled this CCJ as well as others Mr Lofts had brought onto the company, and paid Mr Sands who wrote this email to me.
The 21Million ICO was handled by TokenMarket (now part of the FCA sandbox) based in Gibraltar. There are 75m 21M tokens minted. Approx 1.8m remain in circulation. Multi-Sig wallet holds the balance of 73m 21Ms. TokenMarket CTO, and a partner at a Gibraltar based law firm and myself are nominated on the multi-sig wallet.
Mr Lofts apparently operates 21Million a seperate project to the formal 21Million TV Series. Mr Lofts also holds 440,000 21M tokens.
There are suggestions from Mr Lofts 21M is not a utility token and fails the Howey test. 21M is an on-platform reward token where the value is traded on an exchange.
21Million TV series Trailer
The 21MillionTV trailer will be shot in Shoreditch, London in August 2019, a change of strategy as previously filming was to take place in Los Angeles working with Bingeable Networks. The trailer is based on an entirely new story I have written that developes the story into Season 1.
The story follows founders of a Blockchain company as they get embroiled in a dark web of corporate and geopolitical intrigue as the body count starts to increase.