Some explains from the officials about TargetCoin Bonus Fund

Some explains from the officials about TargetCoin Bonus Fund. You can check it in official telegram group. I made it in “question/answer (Q/A)” case:

1. Q: Name of company and jurisdiction of the entity holding that will hold the fund proceeds?
   A:Target Coin. SG & UK jurisdiction and we will have auditable exchange accounts.

2. Q: What regulatory licenses do you need to appropriate?
   A: We are not accepting USA investors and hence do not need a license right now. We would need SEC fund management license to operate if we accept money from USA investors.

3. Q: What is the current amount invested in the project to date?
   A: $12mn through our pre-ICO investors who also helped us setup the fund. And the ICO has raised close to $250k so far

4. Q: What external safe guards are you putting in place to ensure funds are protected
   A: We will have auditable exchange accounts and all trades details are shared with the investors. We will also diversify exchange liquidity risks by not having too much exposure to any one exchange and have the reserves in wallets, details which will be shared and publicly available.

5. Q: Most of your team are recent graduates with little or only 2 years post graduation work experience. This does not give any confidence that you have the required skills to manage a fund, how will you bridge this gap
   A: Akshath- CEO has been trading since the past 6 years and has managed a brokerage business and a hedgefund before. Rohit has been trading since 8 years.

6. Q: You say you guarantee a quarterly return in your white paper. If the fund makes a loss in a period I presume you will not have any payout?
   A: In case of a quarterly loss, guaranteed bonus is paid out by the reserves of the management team. We also have reserves of $5mn to keep the coin price above its intrinsic price.

7. Q: Who will calculate the NAV? Are they independent to the fund structure?
   A: We have in house auditing team. They are not independent to the fund structure, but all trades and funds' will be available publicly.

8. Q: What independent professional advisors do you have to assist with running the fund?
   A: We have a law-firm Estellon as our advisor. Along with that, we have a team advisors constituting senior bankers from Nomura, Deutsche Bank, Citi, Goldman Sachs.

9. Q: Are there any country's that you won't accept investment from?
   A: As per USA SEC rules, USA citizens are not allowed to invest. But because everything is anonymous on a blockchain, we personally do not stop anyone from investing.

10. Q: Have you got a more detailed investment strategy
    A: Fund got a more detailed investment strategy. I will share a PDF in this group later today or tomorrow.

11 & 12 Q: How much have you raised so far? How much has been raised pre ICO
A: Already answered above

1. Q: What external auditors will you use
   A: As of now we do not have external auditors, but as mentioned earlier, all trading and fund's activity will be timestamped, fracked and recorded and will be available for our investors to see on the TGT Dashboard. Tgt dashboard will be available publicly.
   We will get one external fund admin and auditing firm as the funds' operations start.

2. Q: What licenses do you need
   A: To accept money from USA investors and take money from USA citizens, we need a license from USA SEC. However, we do not plan to list ourselves on any usa exchanges.

3. Q: Does any of the directors have an investment business license or ever held an investment business license
   A: Akshath Naik and the team has worked on a hedgefund Alexandrite capital before. Akshath has held an investment business license in the past for Alpha Trader Asset Management as well.

4. Q: Who will be the independent gatekeeper managing the funds raised? And are they licensed ? What credibility do they have
   A: Auditors, we will get an external Singaporean audit firm soon and will inform you in the next week.

5. Q: How many key holders are needed to move funds from the wallets
   A: It requires permission of all main 6 partners.

TargetCoin ICO ends on 31 august! 1ETH=7500TGT. First and only bonus cryptofund!