Very interesting ICO! I like the funding concept and the fact that this project has a literal connection to bricks and mortar! Even though this is a new and exciting means of raising capital, I hope you can appreciate that as a potential investor, I'm still interested in old fashioned due diligence. As a result, I have a few questions:

1. Let's say, heaven forbid, the Kexgill Group goes bankrupt. What claim, if any, do the holders of the Kexcoin have?

2. The white paper claims an expected gross yield on purchased properties to be between 8 and 12%. First off is this an annual rate?

3. Is the 8 to 12% gross yield quoted in the white paper analogous to "Capitalization Rate" as defined in the following link?

   http://www.investopedia.com/terms/c/capitalizationrate.asp

4. The whitepaper section discussing the coin buybacks makes the statement "Auditing Procedures will apply". Can this be expanded on please? Who will be performing the audit and are those procedures available for review?

5. What happens if the Kexgill group decides to sell the underlying properties? To whom do the proceeds of the sale go to and how would they be distributed?

Again, I find this ICO particularly interesting especially if the coin is legally backed by the property (meaning the coin holders have a legal claim to the proceeds that the properties generate as well as a legal claim to the property itself should the Kexgill group fail to meet their obligations). As such, If this is the case it could be an exciting new kind of hybrid debt/equity instrument that allows the investor to "own" a portion of a real estate portfolio without retaining ownership in the operating company. To the investor, It's like a debt instrument in that there is a legal claim to the collateral (the property) and regular "interest" payment. But it's like an equity investment also because the coin holder could participate in the capital gains of the underlying property and increasing cash flow from "dividend reinvestment". The operating company benefits because capital can be raised and serviced at a lower cost while retaining operating flexibility to respond more nimbly to market opportunities.

I look forward to your answers to these questions.

BTW, Chris - thank you for your diligence with the daily news and commentary! I've grown accustom to my "regular dose" and find it essential in my attempts to keep up with what's going on in the crypto world! Great Job!