Dear Papusha Rocket Technology community, the ICO sphere has changed a lot lately. Bears confidently took control over the market into their strong shabby paws, which made investors much less enthusiastic about participating in any token sales. According to the latest Cointelegraph ICO market reviews, only 2% of ICO completed in September were able to collect a hard cap, and 75% of the projects failed to achieve a soft cap. The situation looks like this:
Nevertheless, we have not for a moment stopped searching for investors and we are still doing it, which you can see from our numerous photo reports in social networks. Most major investors have shifted their attention from buying tokens to buying a company's share. We adapt to this fact and are working towards it. Our team has already rejected a number of proposals for substantial funding (over $ 1 million), because it is impossible to transfer business to other countries. In a foreign legal field we will lose control of the situation.
As it was stated, the Papusha Rocket Technology development has begun during our ICO. A small progress report can be found in our blog: LINK. In the nearest future the production facilities will be brought into the proper form, and we will be able to show guests and potential investors the unit test runs, the progress of the work and our first success.
In this situation we have taken, in our opinion, the only right decision. The deadline for the ICO will be extended till December 22, 2018. This will allow our project to attract the missing part of financing, show the first results of work on PRT-2 and conclude an agreement with the first exchange for listing. We hope that you support us during these challenging times. The ICO deadline extension does not go against our plans - the PRT-2 development process is already running and irreversible.
Bounty program
We would like to express our deepest gratitude to the participants of the bounty program. Thanks to your efforts, we received a lot of interesting, creative material about the project, a great community and interested investors. As planned, the bounty program will end on October 22, 2108. Please check that your work is properly taken into account during the following week. All payments will be made after the end of the ICO.