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A new way to fundraise

It is time to put the company on the blockchain. It is time for DSO.

Everything in hemp should be tracked on the blockchain. We already do this with our COA lab reports. As pioneers in the industry we are not afraid to tackle DSO.

John Spounias, CEO at Incorrigible LLC

The game plan

What a long strange trip it has been. We have been daydreaming about this for a long time here at the candy factory. We waited years for some of the technologies to mature to a perfect ripeness. The time is ripe.

We want to do a round of fundraising. We don’t want to use anything but the raw law and blockchain. At this point in time it should be considered a thought experiment. We are still shopping for the people to make it a reality. What is provided is a road map to the finish line.

In simple terms, we will be offering crypto tokens, the dividends from the company will go to burning tokens, which drives up the value of the remaining tokens, there will be a charity factor to slow the burn rate as time goes by, and managers will make their bonus in tokens. A potent mix of regular ol business, crypto, and charity.

The last mile of legal paperwork and prepping the company for this growth is this year’s goal. We are publishing our progress so others may copy us.

A bird's eye view

Frequently asked questions

There is a lot to cover, it is a big idea. Here are some of the most common questions we ran into.

What is a DSO?: A Digital Securities Offer is a way of providing a security using a digital system. For Gunjahwallah token we wil be using the Ravencoin network. For the SEC side of things Regulation D 506(c) offers some interesting rules for a small business like ours. Others who wish to emulate our model could look to the other exemptions for options which fit them.
What about restricted securities?: We beleive the rules will enable more diversity in crypto offings. By slowing things down and entering the SEC world it opens up a new kind of crypto offer which is a good thing. We still have to find a good SEC attorney and figure out this last mile. As far as we read the law, it will be Rule 144 to govern sales.
Why Ravencoin?: Ravencoin is designed for this kind of stuff. The asset management system allows for anyone to easily particpate without understanding smart contracts and without a middle man. There is some last mile work to be done on the testnet and once it is fully understood it will be published.
Can company profit be used for token burning? Is this considered a security?: Yes. According to SEC v. W.J. Howey Co a security is defined as: An investment of money, in a common enterprise, with the expectation of profit, to be derived from the efforts of others. The test is met if the project's backers take steps to support the price of the digital asset, such as artificially increasing scarcity. This qualifies as ‘efforts of others’.
Is this real? Is this legal? When is this happening?: Yes, we mean business. Yes, we believe so. As soon as 2023. There is some more work to do. It is time to show up and play along.
What does this have to do with hemp?: Hemp is a hard sector to get funding for. Hemp is a good sector for technology development. Hemp has trust issues. Hemp and crypto were made for each other. If we can make it here then anyone can follow the format to raise funds, promote their brand, and give to charity.

Burn Rate Algorithm Emulator

Enter a token market value and the net yearly dividends.

Year X