Ancient history now but it was based on some of the convertibles math in the last 10-Q. Been a while since I looked at it, sorry don't remember the exact details off top of the head.
My conclusion was that if any of the proceeds were used for legal in pushing the ICO forward, then it was money well raised imho. Today's announcement helped that thesis along in my mind, whether or not that was actually true. In other words, continuous risk-reward analysis.
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