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Nucleus Vision - Due diligence #25

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icochecker opened this Issue Dec 25, 2017 · 10 comments

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@icochecker
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icochecker commented Dec 25, 2017

Nucleus Vision (nCash)

Team

Advisors

Censorship

Admin (Advisor: Prabhakar Reddy) deleted legitimate questions and banned users that asked them. (questions asked on 22 Dec 2017).

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nucleus-questions-2

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Searching for Company info

Bell Boi, Inc. on the footer of nucleus.vision

nucleus-vision-footer

BELL BOI INC (To verify)

File Number: 5508075
Incorporation Date / Formation Date: 4 Apr 2014
Entity Kind: Corporation
Entity Type: General
Residency: Domestic
State: DELAWARE

nucleus-vision-bell-boy-delaware

Bellboi.com on internet achive shows footer with Alabama Address

nucleus-vision--archive-belboi-footer

Address: 351 Nisbet St NW, #515,
Jacksonville, Alabama USA 36265
Phone: 312 238 9840
Email: info@bellboi.com
Web: www.bellboi.com

bellboi.com Terms and conditions points to BellBoi Technologies Private Limited

BellBoi Technologies Private Limited (India)

CIN: U72200TG2014PTC095180
Company Name: BELLBOI TECHNOLOGIES PRIVATE LIMITED
ROC Code: RoC-Hyderabad
Registration Number: 095180
Company Category: Company limited by Shares
Company SubCategory: Non-govt company
Class of Company: Private
Authorised Capital(Rs): 1000000.0
Paid up Capital(Rs): 454500.0
Number of Members(Applicable in case of company without Share Capital): 0
Date of Incorporation: 08/08/2014
Registered Address 4-6-118, RAM BAGH ATTAPUR HYDERABAD Hyderabad TG 500048 IN
Address other than R/o where all or any books of account and papers are maintained: -
Email Id: avinash.pitti@gmail.com
Whether Listed or not: Unlisted
Suspended at stock exchange: -
Date of last AGM: 28/09/2015
Date of Balance Sheet: 31/03/2015
Company Status(for efiling): Active

Directors/Signatory Details

AVINASH PITTI
DIN/PAN: 02537262
Begin date: 08/08/2014

ABHISHEK PITTI
DIN/PAN: 05117789
Begin date: 08/08/2014

Other Directorship for AVINASH PITTI & ABHISHEK PITTI:

  • LORVENSOFT TECHNOLOGY PRIVATE LIMITED | CIN: U72400TG2009PTC063190
  • CALDRON TECHNOLOGIES PRIVATE LIMITED | CIN: U72400TG2013PTC086718
  • BELLBOI TECHNOLOGIES PRIVATE LIMITED | CIN: U72200TG2014PTC095180
  • MOP NETWORKS PRIVATE LIMITED | CIN: U92412WB2015PTC208641
  • INTERNATIONAL TIMBERS PRIVATE LIMITED | CIN: U74999TG2017PTC118726

Indian registrar - Ministry of Corporate Affairs

Smart contract

  • Smart contract is not available yet

Github

Commits

nucleus-vision-github

  • Last public commit Nov 2017

Product

Bellboi.com on internet achive dated 23 july 2016 shows sms enabled product

nucleus-vision-bellboi-product

Bellboi.com website says:

nucleus-10k-stores

Walk into any participating store (or run) 10,000 stores and counting

nucleus-10stores

Roadmap on nucleus.vision says launched in 10 stores

From 10,000 stores (webarchive dated 23 july 2016) to 10 stores in 2017?

Who were the 10,000 participating stores in 2016?

Vesting

  • Team says 2 year vesting for Team and Advisors tokens
    This needs to be verified in the source code of the deployed smart contract when available

Additional info

Token distribution

  • TBA

Token allocation

  • TBA

Questions sent by email to info@nucleus.vision

  1. Where is your company registered? Could i have a copy of certificate of incorporation, list of directors and details of registered office address?
    Cayman Islands for the token-sale. I believe one of my advisors already mentioned to you that we have asked our lawyers whether we can or must share this info publicly. FYI, we are not accepting any funds from US (either in pre-sale or public sale). However, once we hear back from legal that this is okay, happy to do so.

  2. Can i have details of any intellectual property which the company has created, registered or applied to register?
    It'll be released in the white paper, along with our patent id's. Please wait for white paper.

  3. What is the vesting schedule for Team and Advisors token?
    2 years

  4. Is vesting for Team and Advisors coded in the smart contract?
    Yes

  5. is your smart contract deployed for the ICO?
    Not yet. Mainsale is still 45+ days away

  6. Was your smart contract audited by an independent cybersecurity company?
    It will be. Audit report will be published as well.

  7. Could i have a link to your github repo?
    Current GitHub hasn't been updated. We'll share it on the website once it has been.

  8. Do you have a working product available to test?
    Yes, it's live in retail stores in Mumbai, India

  9. Has the code for your product been published, and has is been audited by an independent cybersecurity company?
    No

  10. Can us investors participate in the sale? If yes did you secure Reg-D?
    No

  11. Can i have details for the token distribution and allocation of funds?
    Will be released in white paper

  12. When will your white paper be available?
    Legal is working slowly due to holidays. Should be soon.

  13. Where is my money going and what will it be used for? Is my money going to be used to "cash out" others?
    Will be released in white paper. Detailed breakdown for next 5 years is given.

  14. What specific rights come with my investment?
    nCash is a utility token, not a security. I'll await for legal to give me further info on this

  15. Are there financial statements? If so, are they audited, and by whom?
    Yes, but I don't believe we'll be making this public.

  16. How, when, and at what cost can I sell my investment? For example, do I have a right to give the token or coin back to the company or to receive a refund? Can I resell the coin or token, and if so, are there any limitations on my ability to resell?
    I advice you to not invest in our token-sale if that is the intent

  17. If a digital wallet is involved, what happens if I lose the key? Will I still have access to my investment?
    No comments on this

  18. Has the offering been structured to comply with the securities laws and, if not, what implications will that have for the stability of the enterprise and the value of my investment?
    FYI: We haven't taken any investment from you. Awaiting further info from legal counsel to answer your question

  19. What legal protections may or may not be available in the event of fraud, a hack, malware, or a downturn in business prospects? Who will be responsible for refunding my investment if something goes wrong?
    Awaiting legal counsel's answer on this

  20. If I do have legal rights, can I effectively enforce them and will there be adequate funds to compensate me if my rights are violated?
    Awaiting legal counsel's answer on this.

IcoCheck

@c0mm0n

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c0mm0n commented Dec 30, 2017

Hi, What's the censorship flag about NV?

Btw, thanks for your work!

@icochecker

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Collaborator

icochecker commented Dec 31, 2017

@c0mm0n They deleted legitimate questions and banned users that asked them.
I will update this issue later on.
Thanks

@ra127

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ra127 commented Jan 2, 2018

excellent work! bookmarking https://icocheck.io/ !

@swiebertje

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swiebertje commented Jan 8, 2018

@icochecker

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Collaborator

icochecker commented Jan 8, 2018

nucleus-reddit

@swiebertje Interesting 🤔

@icochecker icochecker added Non-transparent and removed Red flag labels Jan 13, 2018

@EzimetYusup

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EzimetYusup commented Jan 20, 2018

their github repo is garbage!

@ashic

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ashic commented Jan 29, 2018

To elaborate on @EzimetYusup 's point:

  • They have four repos.
  • One is Polynomial, which implements polynomial functions. I have no clue why it's there. It looks like it's copy-pasted, and irrelevant to the product.
  • IP_Forwarding is another repo that looks like a high school assignment to be done in 30 minutes or so.
  • Machine-Learning.... ooh yeah... we got some buzzwords!! The code is basic python demo code lifted off some tutorial. My absolute favourite is Machine-Learning/ML_2/kaggle_test_data.csv. The data they test on sample data lifted from a contest on https://www.kaggle.com/ . For those who don't know, Kaggle is a website where machine learning enthusiasts of various degrees of experience try to solve various challenges.
    *The fourth repo is SmartContracts. I have no experience in Solidity, so I can't say if it's real or fake.

They say their github isn't updated (hasn't had a commit in months), but they link to it from their website. From a technical perspective, until and unless I see a real codebase with active development, I can't help but think of this as a scam. They may very well have a codebase they're working on that they haven't put on github, but that only means that what they have put up is to mislead non-technical people.

@philiparthurmoore

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philiparthurmoore commented Feb 26, 2018

Scam or not, seems Binance doesn't mind having them on board. They were just listed today. A shame. I will not be touching this project.

@AriuzSS

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AriuzSS commented Feb 26, 2018

Looks like a total bs. I was just watching binance and doing a research and don't get a hype. How people can by a coin when they don't even have a product. Soundsa like dev team was busy selling ico then working on a project.

@ashic

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ashic commented Feb 26, 2018

As of now, it's dumped 81.60% against BNB, 64.40% against BTC, and a whopping 85.52% against ETH. It's a good thing they didn't do a public sale. Whoever "invested" would be considerably out of pocket.

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