Now that the easy part is done - taking your money - there is a bit of work accounting for the entire model around the presale. I have been meeting with the accountants, and getting ready to continue to make this a reality in the real world.
ECOBANK is a fund, we do stuff with the assets in the fund, and we hope to make profits doing it. There will be other sale phases as a way to inject new capital into the fund, but for now, our first phase (PRESALE) has closed. As per our statutes, never can a future phase be held for cheaper than a previous phase.
In this post I will be looking to break down how many tokens there are in the fund, and who gets them, let's dig in. You can review the previous post from December to see how well today's numbers match what I was thinking in December of last year.
ECOBANK Land
We found and finalized a really nice piece of land that made us want to launch the ECOBANK project. I uploaded a great drone video to youtube that we took on Sunday. Check it out (can you spot my car?):
At 2:19 you can get a good look at mostly the whole piece of land.
We have calculated exactly 8.2 hectares of Land at 10,727 tokens per hectare ($11,800 USD per hectare).
Land (8.2 hectares): 87,961.4 ECOBANK tokens
We have also invested some minor funds in getting the whole project up to speed, we have been quite conservative and deliberate with the funds, here is what we have done so far:
Partially Spent
Management - Technical: 3000 ECOBANK tokens
Spent so far: $490 USD (445.45 ECOBANK tokens)
Mapping and delimiting: $250
Surveying and cleaning: $240
Management - Legal: 3000 ECOBANK tokens
Spent so far: $1375 USD (1250 ECOBANK tokens)
Legal Consult fees: $1325
Paperwork: $50
Management - Administration: 3000 ECOBANK tokens
Spent so far: $1000 (909.09 ECOBANK tokens)
Tourism Diagnostic Study: $1000
We have some tokens set aside for things we haven't done yet, here are these notes:
Unspent:
Licensing and Permits - 2700 ECOBANK tokens
Planning Fees - 1230 ECOBANK tokens
*Architect: 4800 ECOBANK tokens
I personally did put in $1000 dollars in an advance to an architect - who delivered some drawings that you can see here. In the end, I felt that we were trying to move too fast and the guy was asking way too much money to continue with him. I have decided to write off this 1000 dollars as a personal loss (and lesson), and keep the budget untouched within the ECOBANK. You are welcome 😅
This gives us a total of 90565.94 ECOBANK tokens outside of the presale, and these will be distributed as follows:
J.C. : 43980.7 ECOBANK tokens
Let's update the presale data:
Here is the list from the first accounting period, launch until February 2nd:
totals of 1557.715 tokens / 1713,49 HBD
And here are the entries between February 2 and April 23rd:
totals of 1553.373 tokens / 1708.715 HBD
Now we have the sales since April 23rd:
Totals of 26750.333 tokens / 29416.971 HBD
This brings us to a grand total of our presale:
29861.421 ECOBANK tokens Sold for 32839.176 Dollar tokens collected
We also have some special cases, people who were not able to participate in the presale but who nonetheless are getting some tokens. Not all of these are the same case, and I won't be going into detail, but I will be integrating them into the full accounting shortly, moving sufficient funds around to explicitly cover these 'non-sales'.
F.W. - 454.545 tokens
C.T. - 909.09 tokens
Results - What's next?
Rest assured that there has never been nor will there be an ECOBANK token issued without the appropriate backing. Team members have not received tokens, and all the tokens I personally received represent cash that I have invested.
Please take a look at this post with a critical eye, especially if you have been tagged. It is not my intention to do many posts where all members will be tagged, but as this is your chance to dispute totals, and I put everything together manually, please take the next few days to make sure everything looks right to you.
I will be finalizing the internal accounting for our fund, and distributing the token within the next few days. I wanted to get this post out just so there was some time for anyone to report some sort of error that I may have made.
You may notice that there are still a few people without 'wallets', we will be looking to fix that or propose a suitable solution in the meantime.