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Memo for Minute Book

Subject: Additional Fundraising Efforts Required Due To Private Sale Delays Caused by Lars Fabricius and CondaLabs Marketer Team


Date: July 26, 2024

Prepared by: @Anton


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Overview:

This memo outlines the recent issues encountered with advisor Lars Fabricius (TwitterLinkedIn) and the CondaLabs marketer team during the private token sale for ProductShare. These delays have significantly impacted our operations and fundraising efforts, necessitating additional fundraising solutions. This memo also details the intended use of funds from the bridge investment, including paying the ChainRaise filing fee and potentially engaging ThinkFish to secure additional capital.

Background:

ProductShare initiated a private token sale with the goal of raising $110,000 to secure immediate funds for essential operations, including the registration of the Marshall Islands DAO to protect us from potentially infringing on SEC regulations during the token sale in the US, as well as other foundational steps necessary to launch the StakeShare token.

Key Issues:

  1. Delays in Fund Release:
  2. Operational Impact:
  3. Advisor Compensation and Contract:
  4. Employee Morale and Retention:

Immediate Fundraising Solutions:

Given the critical situation, we must act upon the following solutions immediately to secure the necessary funds for our operations and future growth:

  1. ChainRaise Filing:

  2. Engagement with ThinkFish:

    Details of ThinkFish's service offerings and their impact on our fundraising efforts can be found in their documentation: ThinkFish 2024 Service Offerings, ThinkFish Onboarding Agenda, and ThinkFish Overview.

Steps Taken:

  1. Partnering with CLC Partners:
  2. Legal Actions:
  3. Communication and Transparency: