Letter to envion investors
You have been waiting on the auditing results for some time and I can now announce some preliminary findings.
The Swiss branch of BDO, the global auditing firm (8,2bn USD revenues in 2017), started auditing envion AG two weeks ago and has completed corporate governance, legal and compliance. Most important finding: the capital increase was conducted in accordance with Swiss laws.
Insinuations that CEO Matthias Woestmann allowed a capital increase in violation of Swiss company laws are therefore baseless and fabricated. They solely serve the purpose to distract attention from severe and potentially criminal irregularities in the ICO.
What remains is a dispute at a civil court in Germany where two parties have different views on a bilateral agreement.
The last remaining chapter of the audit is the financial statement, of which the ICO is an important part. BDO requested us to provide a documentation of every single transaction of the ICO – from the individual investor level to the ICO-wallets and from there to the envion wallets at Bank Frick as well as to any other wallet with proof of control.
This is because BDO insists to get the full and un-manipulated picture.
The so-called founders team refused to provide these data continuously and in spite of several letters by our lawyers since February. As a consequence envion AG had to file a court case for the data. Of course one wonders why the so-called founders refuse to provide transparency.
What is it that these data can reveal?
Which secret do they carry?
While courts take their time we are working hard to interpolate data, combine public sources like the Ethereum blockchain with KYC- and credit card databases in order to fill the gaps and to satisfy the auditor.
Two things we can say already now: the capital is not gone, it sits in the bank (with the exception of 12.284 ETH and 525 BTC that the so-called founder team owes envion and its investors). That means we are able to invest and follow the plan – after selecting the best and most efficient technology in the market; public tender not excluded. All that will happen as soon as the audit is done.
I know that patience is a difficult exercise – especially in the fast moving crypto world – but I am sure it will pay off.