I want to write a post about the failures that I face when moving with my startup. And then everyone writes what good they always are … but rarely will anyone write about fails.

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3 months we closed the seed-round. The conditions were super loyal: we signed agreements of intent with 7 angel investors. 2 of them are strategic, 5 as an acquaintance.

So, under the conditions, we had to get 10% of the amount in order to get a company in a jurisdiction that would suit investors. After that, SAFT contracts were processed by the company and we received the remaining funds.

The plan was: to open a legal entity in the state of Delaware, but smart people suggested that it is now more relevant to discover in Virginia. Under the conditions and the law, everything is the same, taxes and attitude to the area itself are slightly different.

Why did I want to do this? The next Round A was planned to be closed with the help of venture capital companies, including mainly from the USA. So it would be easier and more reliable for everyone.

So, I’m talking about failures. Bullrun apparently spoiled all the plans and even 10% we did not see at home. Funny Yeah. Is it possible to blame someone for something? Of course not!

Imagine that I am 100% out of the crypt and without reserves because All brought to the costs of themselves and the team. And here I am morally involved in the Bullrun, but it does not become more fun.

Yes, I am very happy for everyone around, at last, the torment has passed and I congratulate all who survived the crypto winter.

From the outside, according to my data, the people did not come, but inside the fomo was in full swing. And this is good for projects, what is there to hide.

But it’s about the “completion of the seed round” that I cannot say that the seed round is done and this stage has been passed.

And not because we had to get money and buy crypts on them, make X’s and relax. No, the contract clearly states that we pour everything into Fiat and spend on development. But, we did not register the date of transfer of funds by investors in our address.

And now, every day I am engaged in finding funds for current expenses and the implementation of the project plan for this year.

What lesson from this can be obtained: Always specify the dates and conditions that will suit both parties. Do not make any concessions.

By the way, we still have a free location for $ 30k, with conditions x6 and a 1/6 part of the listing, by the end of the year. Log from $ 1k. So you can be at least 30 people. Well, you never know.

In the next Series: We have partnered (by buying shares) with a startup on video conferences and webinars to increase the market for using Teus coin. But things did not go according to plan.

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