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Bread - Due diligence #21

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icochecker opened this Issue Dec 14, 2017 · 1 comment

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icochecker commented Dec 14, 2017

Bread (BRD)

Team

Executive Team

Advisors

Engineering and development

  • Adrian Corscadden (iOS Developer) - Nov 2016 - Present Linkedin profile
  • Matt Davids (DevOps Architect) - Jan 2016 - Present Linkedin profile
  • Mihail Gutan (Android Architect) - Jul 2015 - Present Linkedin profile
  • Daniel Moore
  • Pieter Parker
  • Kevin Ponto
  • Daniel Staudigel (Sr. Software Engineer) - Jul 2017 - Present Linkedin profile

Company

Headquarter

Breadwinner AG
Schindellegistrasse 3
8808 Pfäffikon SZ
Switzerland

Entry in the commercial register 03.05.2017
Legal form: Company limited by shares (AG)
UID: CHE-357.612.662
Commercial register number: CH-130.4.024.180-3

Management

  • Jan Happel | Board of directors-Member | Since 29.09.2017
  • Christopher Aaron Lasher | Board of directors-Member | Since 29.09.2017
  • Aaron Voisine | Board of directors-President | Since 29.09.2017
  • Adam Traidman | Board of directors-Delegate, Board of directors-Vice-president | Since 29.09.2017

Past and translated company names:

  • readstar Sàrl
  • Breadwinner SA
  • Breadstar GmbH
  • Breadwinner Ltd
  • Breadstar LLC

SOGC notifications

SOGC 189/2017 - 29.09.2017
Categories: Changes of business name, Changes of legal status, Changes in the activity, Changes in the capital, Address changes, Personal changes.

sogc189-2017 -29 09 2017-a
sogc189-2017 -29 09 2017-b

Breadwallet LLC (US)

File Number: 5717431
Incorporation Date / Formation Date: 26 Mar 2015
Entity Kind: Limited Liability Company
Entity Type: General
Residency: Domestic
State: DELAWARE

bread-delaware

Github

Product

Smart contract

Vesting

  • No vesting schedule for team and advisor tokens.
  • Team and advisors tokens are not vested in the smart contract.
  • Ceo says that vesting will be added after the ICO.

bread-token-vesting-8

bread-token-vesting-12-b

  • Co-founder Aaron Lasher has no idea about the Team vesting schedule.

Additional info

Questions not answered by the company:

bread-token-vesting-1
bread-token-vesting-2
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bread-token-vesting-7
bread-token-vesting-9
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bread-token-vesting-12
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Live Youtube AMA with Bread CEO (click to view)

Bread Live AMA

CEO Adam Traidman, when asked about vesting schedule for team and advisors tokens:

  • "The final vesting plan has not been ratified by the board of directors."
  • "Generally these types of affairs are considered confidential"
  • "2 to 3 year vesting terms"
  • "final details will be ratified by the end of the crowd sale"

Conclusion

  • The founders never answered the questions asked by investors, showing disregard for their concerns.
@agentbutlr

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agentbutlr commented Dec 17, 2017

Another money grab!

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