EOS Athens

Ownership Disclosure

 

Effective Date: April 15, 2019

1. Introduction

1.1 The purpose of the current Ownership Disclosure document issued by EOS Athens Blockchain Technologies (hereinafter also denoted as “EOS Athens”, “the Company”, “we” or “us”), is to inform the community regarding our organizational details and practices.

2. Company Details

The details of our Company are as follows:

a. Registered Company Name: EOS Athens Blockchain Technologies

b. Official Company Website: https://www.eosathens.com

c. Company Address: H. Sabbagh S. Khoury 3 (former Premetis), Marousi 15125, Athens, Greece

d. Registration Number: EL101450534

3. Ownership and Values

3.1 EOS Athens is owned in its entirety by its founder and visionary architect Grigorios Maris (100%).

3.2 Refer to our Code of Coduct document to learn more about our vision and values.

4. Block Reward Management

4.1 The pie chart below provides with details regarding the management of the collected funds. It shall also be clarified that the presented percentages do not reflect EOS holdings. They rather imprint the management of fiat capital derived from the claimed and liquidated tokens. More specifically:

a. Administrative & Operational costs – They include all these expenses required to maintain our as-is state. In contrast to the Infrastructure and Developers funds that are further elaborated below, excess funds of this category -if any- may be utilized for covering immediate expansion and growth costs. Having those covered, excess funds may also be tunneled at EOS Athens sole discretion to either of the created funds depending on the business needs.  

b. Taxes – Self explanatory. EOS Athens is proudly based and taxed in Greece. Excess funds due to potential tax flunctuation can only be directed towards Infrastructure fund and Developers fund depending on the business needs.

c. Infrastructure fund – It consists of the capital collected in order for EOS Athens to absorb infrastructure related EU funding and maximize its output and utility. Excess funds can only be directed towards Developers fund depending on the business needs.

d. Developers fund – It consists of the capital collected in order for EOS Athens to absorb employment related EU funding and maximize its output and utility. Excess funds can only be directed towards Infrastructure fund depending on the business needs.

5. Scenarios and Examples

5.1 The purpose of this section is to provide an example of fund management and how this could take place along with token price movement.

DateTime X – Claimed EOS = 400, Liquidated EOS = 200, EOS Price = 5 €

a. FIAT fund = +200 x 5 = 1,000 € (Administrative & Ops = 310 € + Taxes = 290 € + Infrastructure fund = 200 € + Developers fund = 200 €)

b. EOS fund = +200 (Estimated value = 200 x 5 = 1,000 €)

c. Total EOS fund = 200

DateTime Y – Claimed EOS = 1,000, Liquidated EOS = 500, EOS Price = 10 €

a. FIAT fund = +500 x 10 = 5,000 € (Administrative & Ops = 1,550 € + Taxes = 1,450 € + Infrastructure fund = 1,000 € + Developers fund = 1,000 €)

b. EOS fund = +500 (Estimated value = 500 x 10 = 5,000 €)

c. Total EOS fund = 200 + 500 = 700 (Estimated value = 700 x 10 = 7,000 €)

DateTime Z – Nothing to Claim, Liquidated EOS = 200, EOS Price = 20 €

a. FIAT fund = +200 x 20 = 4,000 € (Administrative & Ops = 1,240 € + Taxes = 1,160 € + Infrastructure fund = 800 € + Developers fund = 800 €)

b. EOS fund = -200 (Estimated value = -200 x 20 = -4,000 €)

c. Total EOS fund = 700 – 200 = 500 (Estimated value = 500 x 20 = 10,000 €)

DateTime W – Nothing to Claim, Liquidated EOS = 500, EOS Price = 4 €

a. FIAT fund = +500 x 4 = 2,000 € (Administrative & Ops = 620 € + Taxes = 580 € + Infrastructure fund = 400 € + Developers fund = 400 €)

b. EOS fund = -500 (Estimated value = -500 x 4 = -2,000 €)

c. Total EOS fund = 0 

Summary: 

a. Administrative & Ops = 310 + 1,550 + 1,240 + 620 =  3,720 €

b. Taxes = 290 + 1,450 + 1,160 + 580 = 3,480 €

c. Infrastructure fund = 200 + 1,000 + 800 + 400 = 2,400 €

d. Developers fund = 200 + 1,000 + 800 + 400 = 2,400 €

5.2 The Scenarios above are only to provide some indicative cases of Block Reward management and to better explain that the division to each of the provided categories is taking place at the moment of liquidation.

What we will NOT do under any circumstances:

Total EOS claimed = 1400

a. 20% sold at 3 € for Developers fund = 280 x 5 = 1400 € 

b. 20% sold at 5 € for Infrastructure fund = 280 x 6 = 1680 €

c. 29% sold at 10 € for taxes = 406 x 10 = 4060 €

d. 31% sold at 15 for Administrative and Ops = 434 x 15 = 6510 €

Plain percentages can be deceptive. The case above illustrates that despite being true to the percentage statements, it not only opens the window for fund manipulation but it also introduces great business risk exposure. Hence from our perspective, EOS Athens along with the rest of the Block Producers, shall be crystal-clear on how funds are managed without leaving any dark spots.     

5.3 The amount, the timepoint and consequently the price of the tokens sold are at EOS Athens’ sole discretion, having always in mind its financial viability in respect to the best interest of its mission and goals.