Sendgold, page-38

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10/09/18

09:49

Post #: 35489090
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Originally posted by Tarvold ↑

SendGold has multiple services including purchasing/selling gold, sending gold to a third party & gaming associated reward schemes.

With regard to buying gold as an investment to hold.
SendGold act as a broker on your behalf to buy the gold. arrange storage & insure it.
The gold is not owned by SendGold or held anywhere on it's Balance Sheet.
Thd gold is stored in Australia by Brinks Storage & Insured by Lloyds of London, this isn't like Bitcoin where they can be hacked & you lose your money. Even if the Brinks vault was robbed you wouldn't lose your money.
If SendGold go bust you don't lose your money as you have title over the gold, the receivers would ensure you receive your gold in that instance.
The only reason they don't offer actual physical delivery is because it's an early stage start up that hasn't got that far yet, the reason they are crowdfunding more finance is to improve & expand their services.
Most people wouldn't want to hold gold themselves for security reasons so for most it's not a requirement but i understand your concern.

SendGold are rolling out a new version of their app later in the year which will have lots of new features & improvements, although they are looking at physical delivery in the future i'm not sure of the timescale. There are more important things they are working on that they have received from focus groups from various countries they consulted with.

If you want more information on SendGold & it's setup / services i suggest you look at the offer document for their crowdfunding.

https://www.onmarket.com.au/offers/sendgold-mobile-asset-holdings-ltd1/

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The only reason they don't offer actual physical delivery is because it's an early stage start up that hasn't got that far yet, the reason they are crowdfunding more finance is to improve & expand their services.

So they are a company that buys and sells gold on your behalf. They are called SendGold but they haven't actually worked out a methodolgy for delivering the gold. Pardon me for sounding somewhat cynical but I would have thought that would have been a core consideration for this type of business.
Why bother when you can deal directly with any broker for the same result?
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Sendgold, page-38

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