TC PLC : Token Communities PLC – the Gibraltar subsidiary
TCL : Token Communities Limited – the Delaware and parent company
The Directors & Management aim to keep stakeholders updated, as far as legally & contractually possible, on the material ongoings of the company and wider Token Communities Group ("TCG") business activity. Due to commercial confidentiality and potential counter party requests our updates may be subject to time delay, but we endeavour to be as transparent as commercially possible.
OTC BB Listing
21st June 2018
Update Our US attorney has confirmed DTC have been in contact on 19th June to request further minor information and clarification. Response 20th June and we now await final clearance to list.
7th June 2018
Update All necessary documents have been logged with OTC and permission to list requested.
5th June 2018
Update TC PLC audit of financial statements to 31 December 2017 completed & audit report signed off.
18th May 2018
Update The shareholders of TC PLC unanimously resolved to agree to the Director’s proposal that the TC PLC shares be subject to a share swap to give them shares in a previously listed Delaware company, which has now changed its name to Token Communties Limited ("TCL"). It is intended to re list that company on the OTC BB by the end of Q2. For every TC PLC share held .54 of a TCL share is received. The share swap becomes finalised once the OTC BB listing is achieved. That requires a number of preparatory actions to be successfully fulfilled, including redrafting of the period ended 31st December 2017 financial statements in full compliance with USGAAP, and filing of all necessary OTC reporting documentation. US auditors and attorneys have been appointed.
Development of Blockchain / Crypto Exchanges ("BCE")
21st June 2018
TCG believes the development of reliable exchanges through which cryptocurrencies tokens/coins and other future financial instruments such as derivatives and futures is an essential step in the advancement of blockchain and cryptocurrency, coins and tokens.
To this end it has pursued a strategy to create a global network of BCE’s, and to develop existing token/coin offerings to provide more security and dependability (see Token Development in this section).
By partnering with businesses which have proven expertise in the sector, TCG is building an international network fo BCE’s. Currently BCE’s are being set up in London, England, Singapore and Hong Kong.
The precise terms of each partnering agreement are subject to commercial confidentiality but broadly the net profits from each BCE are showed with the technical and operational partner. This is anticipated to considerably enhance the profitability of TCG.
Token Development & future enhancement of value, dependability and downside net exposure
TCG aims to be a sector leader in the acceptability and positive development of tokens and coins. In particular, the discussions surrounding classification of tokens (e.g. into security or utility) are subsidiary to the vast potential that a fully compliant, tradeable token will bring. Tokens that are hard collateral backed will have more value durability than those that are not. To this end, TCG have commenced a program of focused token development whereby hard, freely tradeable commodities such as gold, platinum, lithium, cobalt and graphite are utilised as fixed collateral to tokens.
TCG shares in the profit generated by the issue of such commodity coins as well as assisting clients companies with advice, assistance in drafting white papers and coin placement.