Statement of CEO Matthias Woestmann
I know the last couple of months have been difficult for you because there was silence and I didn’t communicate with you. Today I will explain to you why that happened and that i had really serious reasons to do so. When you invested in Envion everyone believed that a good idea would be also carried out by good people.
But in the very night the ICO ended some members of the Envion team created 20m token more than the prospectives allowed – and they did so, without the knowledge of the board. Now that created a cascade of events that endangered the very existence of the company.
First: the supervisory board members from switzerland stepped back. Second: Our auditor – PriceWaterhouseCoopers – also decided not to work with us any longer. Now, with these two structural damages the company was in real danger to be liquidated by the swiss authorities. And i could not go the public with these problems without having a solution. So what I did in the last couple… no, in the last two months was to look for a proper solution. First i got a great supervisory board member on board which is Marc XYZ an IT CEO of a public company in switzerland and Germany and we got on board a new auditor which is most probably BDO – they had an LoI signed these days with us – to work and clean up the mess. That’s corporate governance. Regarding the authorities we have informed the financial regulator of Switzerland and we have filed a criminal complaint in Germany. What is of course most important for you, is what will happen to your investment. Now, the creation of additional tokens means a dilution for you and that is of course unacceptable for us.
We will replace the old Envion token by a new token that carries the full payout rights for you, so that basically for everyone who has subscribed to the Envion ICO will have no damage. You will get a token that carries the full dividend rights in the future. Now that’s the tokens and of course you want to know what’s happening in operations. Mass production hasn’t started yet and there is avery strong reason for this.
Because I can’t take a decision about millions and millions of investments without a proper corporate structure, without an auditor, without a second supervisory board member.
So – these decisions are now eminent. One last thing – I don’t have any control of the traditional communication channels of Envion. Authorized news b the legitimated board of the Envion ag will be only available on: Envion-recovery.org.
And I promise you, I will do everything to make our vision come true.