Hi Steve,
Please see my answers below:
1) How long were you in prison and what were the charges?
Mark >> Two years of a four year sentence for cultivation of cannabis
2) How much money has been raised in Bitcoin terms by the ICO and what was the target?
Mark >> Most of our investment has been made in UKP and USD this number is under $500,000 so far.
3) Was BanxShares based on the Foocoin template?
Mark >> To be honest I have no idea, the dev who did our original wallet was asked to set it up, that dev is no longer around and ultimately didn't do a very good job of it.
4) Please describe the current state of active Banx projects and explain any shortfalls, ie. 1 ATM of a promised 12 this year, 300 GH/s mining operation of a promised 2 TH/s, etc. Please mention which projects have yet to be commenced.
Mark >> As previously explained we are way behind on our plans due to not selling all Banx Shares. We never promised anything we projected based on being able to sell all banx. We got up to 90 Th of mining, that equipment is being sold off (They were Spondoolies SP31 miners) and based in the US. We have Banx Mint, Banx.io, Banx Cards, Banx Trade up and running at the moment in addition to our information and membership products.
5) You mentioned moving your operations to the Isle of Man, has this happened yet?
Mark >> This was last year and didn't happen due to IOM not being ready for crypto companies, we are in HK, Panama and the UK now
6) 16% monthly ROI with virtually zero risk? Please provide trading record and specify the venue where these trades are being conducted.
Mark >> This has been done in the response thread to Ian DeMartino here:
http://digitalmoneytimes.com/banxshares-was-removed-from-coinmarketcap-rankings-and-not-because-of-ponzi-accusations-the-official-response-from-mark-lyford/ 7) The mining operation, where is it based, what is the electricity cost there and what hardware is it using?
Mark >> See above.
Why was the company JVZoo included as an asset of BanxCapital in the documentation sent to Ian DeMartino?
Mark >> JVZoo is not our company is is the affiliate platform we use for product sales.
9) Please explain how holders of BanxShares may sell them, at this current time.
Mark >> They are able to sell them on banx.io if they don't have pre agreed hold periods.
10) Please provide a timeframe for the migration to BitShares.
Mark >> Currently working on this, the realist is when we move to BTS our ICO will be over. Therefore we have to judge the best time to move and the remaining Banx we have to sell together with how not selling remaining banx will effect our plans. So to answer your question I don't have a specific date yet, but will be in a position in the coming weeks to make that decision.
11) Will there be any restrictions on the trade of BanxShares should they appear on the BitShares exchange?
Mark >> Yes some Banx shares holder who still have holds on their Banx will have vesting dates on their Banx once we are on the BTS network.
12) Roughly what percentage of BanxShares is currently held by yourself, BanxCapital and its employees?
Mark >> I have said from day one that I own 20% of them , the company owns 20% of them.
13) I would also request a timeframe for your projected 50k new entrants. As a general principle, I would suggest always providing a time component for projections.
Mark >> Time frames are hard in this biz, setbacks happen. i would say I will have 5000 people in by year end. then we have to test traffic and conversion to our offers and marketing funnel to judge when the rest of the 50,000 is possible. This is a major focus for us.
I hope this help.
I am holding a webinar tomorrow talking more, getting opinions from people who hold banx and are interested in banx, anyone can register to be on that webinar if they wish by going here >>
https://attendee.gotowebinar.com/register/9021241487662865409Regards
Mark