jaisz posted on December 14, 2019 13:54:42
Arie has certain skills when it comes to development but these are overshadowed by his willingness to win and come out on top at all costs. This is one in a chain of projects where he was operating in a grey area and was ok with taking investors money for his own gain. Search his history with malware software.
The team has no ability to deliver their original scope now. Scott was horrible for this project. They blew through their ICO finds like a bad 80’s movie spending montage, launch parties, staff meetings on yachts, B-list celebrity endorsements, weird collection of pro-athlete sponsorships. And the whole time they spent less than 2.5% on development. And around $14 million on internet ads. The worst run project I’ve seen in 5 years.
This is not a rant, check the facts and their SEC filings. This is all public information. After the downsizing, Arie still employed his daughter and her girlfriend and he is now part of their startup. They’ve used investor money to build an app that gives away tokens in exchange for monthly subscriptions so essentially they are selling right from the token reserves. Their latest SEC filing has them $6 million in the hole and a write down of their total assets from 18M to 3.4M or thereabouts. But hey, Arie paid off his debt and cleared his XY findable losses. He cleared out all the old useless XY findable stock and sold Raspberry Pi computers for 400$ (20$ on Amazon) called them bridges, which to this day have no purpose.
It has been crazy to watch this train wreck from the beginning and it’s hard to believe that there wasn’t at least some plan to fleece investors. DO YOUR OWN RESEARCH on this one before you send them one single cent. In my opinion just stay away!
factatom posted on November 20, 2019 01:20:19
I'm neutral on this one.
I did create a review about $XYO during its ICO period since it sounded promising, creating feasible technology that is a really good fit for the blockchain. I think the problem here is that their development was affected by the bear market. Hence, they are still continuing their development way past their original schedule. Investment-wise, I don't think this has much room for growth, I don't do chart trading, but that is what I think of this project so invest at your own risk.
For individuals that wish to know more about this project, you could read my blog post for a basic review:
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