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RE: On VIVA and TradeQwik - A Heart to Heart from Dawn - August 5, 2018

in #viva6 years ago

Let alone liquid assets, I've bought software licence to operate a mint on viva blockchain, which was never delivered.

I've invited you to testing, you've replied and said you weren't interested. There really isn't much else I can offer at this point. We're barely a year post-ICO. We've not asked anyone for a dime more. It's being delivered, testers would speed that up.

In my country it would be very easy for me to claim back money and force bankruptcy afterwards if necessary.

That doesn't hold here. If you forced a bankruptcy, it would start as a Chapter 13 against TQ as a sole prop and then convert to a Chapter 7 against me personally because TQ is not a going concern at the moment. I don't have a house, car, bank account, retirement plan nor do I have a regular income. I've held off on going Chapter 7 because it wouldn't work out for anyone and it would just make my life harder in the future as I struggle to rebuild credit. It would dismiss the debt though and I'd rather not be forced into breaking a promise like that.

In my country the court would do more then that, it would also give me access to the audits full financial data

Which would do what exactly?

Here as a creditor in a disputed bankruptcy you would be entitled to something similar, but unless you were a registered shareholder in a corporation the complete books would be off limits.

What you would see is a list of assets and liabilities, in as much as it relates to debts owed.

It would not show you the daily expenses except as required to demonstrate a need to reduce the share of income owed to the creditors in order to continue operations.

You would also be limited to the court's interpretation of this data and the record would be sealed and given to you only under said seal. If you disseminated even that data you'd go to jail for contempt of court until you found a way to unleak it.

the information you keep on hiding away from me.

There's nothing being hidden. Even now, everyone is acknowledging that you're entitled to all records as they directly relate to you. That was the point of the whole audit and reaching out thing. Other people's records are their own private financial data under the law and we owe a duty of care to each customer to protect that information. It's a legal obligation, you don't get to see another person's records unless he or she willingly shares them with you.

Having been on both sides of bankruptcy process I can tell you that it very much depends either the bankruptcy was premeditated or organic.

That's not the case here. Here both sides are required to demonstrate they have attempted every reasonable resolution including binding arbitration before you can even start a bankruptcy. Furtheremore, the debtor or rather his lawyer is allowed to tap any and all assets to pay legal fees for this. That tends to reduce the money available to the creditors. If resolution cannot be made outside of the court, the court will prioritize those who have the largest debts owed, in our case, those who had the most in real dollar value as of the date of bankruptcy. This means that if you had 1 BTC in TQ and we were forced to go through bankruptcy today, you would see a dollar amount of about $6,000 as a line item liability with your name next to it and a long list of others above and below. The next step would be liquidating all assets and then making folks whole proportional to the dollar value owed.

Your country has some very strange bankruptcy laws. It's good that VHL was incorporated as a Wyoming entity and TQ remained a sole prop.

In the meantime, it feels to me like you're upset and you want to see some heads roll. You've said elsewhere that founders should reduce their stake by 90% and you claim that other people's private financial information is being hidden from you.

This effort isn't about that all that. We aren't here to see heads roll or for vengeance or even to lay blame. If you want to lay blame, lay it at my feet. I'll take responsibility. Because once we make it right with customers, it's still my head that rolls here. I lead the charge, I approved the code and the changes to the code. I hired the people and I take responsibility for the whole mess.

Now that's out of the way, I'd like you to understand that we're here to do right by the customers and give each customer their own assets back while showing the path forward for the product you purchased. If we can get some people helping to test, then that whole "delivering to you what you bought" thing goes a lot quicker if not it might be a little bit longer, but it's still coming.

Ok I've spent an inordinate amount of time here in this thread. I've monopolized it and most likely people who feel angry with me will come through and start flagging everything I said again. I'm going to take a break from posting, answering questions and basically being here on steemit so I can focus on the tasks at hand in the real world. I will be back in a few days to give the results of testing.

I know it's been said before, but thank you for your patience.

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Your country has some very strange bankruptcy laws

I guess in any country"Bancruptcy Laws" is a huge volume, so of course I do oversimplify things here.
But at the end of the day that would be just common sense.
The Creditor have right to look into the books of the Debitors before he desises, whether the Debitor will be liquidated or the second chance will be given.

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