Question 1

How will tax reporting work. 1099? K-1? Thanks

Accepted Answer

William! Taxes through Heleum are based on documents provided by Uphold, mainly the 1099-K and the Capital Gain/Loss Statement used to prep the Form 8949 for the 1040-D. We've gone through that process once and now we have a new partner, TaxBit, that is offering affordable plans to help track realtime tax liability, keep a realtime escrow account, and help prep your taxes for you. I'd recommend you look at: https://support.uphold.com/hc/en-us/articles/360000130263-Taxes-FAQ And check out the ...

Question 2

How does the perks work? Is my investment here is routed for trading and profit shared back with me?

Accepted Answer

Unfortunately, no. The perks just affect how your Heleum account will work if you use one. Your investment is only an exchange for an agreement for equity in our company. It just goes to us as cash to use for our development needs, so it is separate from any balances you put into your Heleum account through Uphold. You'll need to fund your Heleum account separately.

Question 3

Please explain ‘Share of Gains’. How does it differ / better for someone who is not an equity investor but still use Heleum?

Accepted Answer

Share of Gains is the profit made on investments made through the Heleum app. Regular Heleum users start with a 60% Share of Gains (A 40% Heleum fee on gains). Equity investors at those perk levels start out with a 70-90% Share of Gains (10-30% Heleum fee on gains). Any Heleum user can also reach a 100% Share of Gains (No heleum fees), by referring people to Heleum and by keeping a higher account balance. See heleum.com/pricing for more details.

Question 4

Do you intend to pay a dividend?

Accepted Answer

Yes we do plan to pay dividends! They would likely be quarterly, starting in late 2019 or 2020, depending on our growth and profitability. I'm planning to upgrade our pitch deck over the next week so that is made clear. We want our investors to realize a return no matter what our exit strategy and future funding horizon looks like.

Question 5

Who are your competitors today and how are you different from these other apps?

Accepted Answer

Our main automated cryptocurrency competitors are apps like Flpbit and ProfitTrailer, that mainly cater to more professional traders, whereas we are built for the masses with no cryptocurrency experience. Our other competitors are robo-advisors like Acorns, Wealthfront, and Betterment. They have the edge on us as full RIAs for now, but we have the edge on them in the cryptocurrency space, which is the future domain of finance.

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