ELAD Network was founded on the 15th December 2017 as a UK corporation. Its CEO appears on the records, as well as a terminated Director.

Their company was incorporated with 5GBP of capital, meaning there are likely no tangible assets in the company currently.

There are no trading records.

ICOs of this size should be audited and conducted under a fund supervision scheme.

Disappointingly, there is no third party regulating the raising of funds for this ICO and as ELAD completes their ICO, any funds raised will be unsupervised and there is no promise yet of transparency.

The white paper does show an allocation of funds, however, this is vague and unspecified.

These points establish that any investment in this project will be accompanied by a high-risk level. The team and their project remain without IFSS.

ELAD’s project development plan is vague and unfocused. Other projects of this type have acheived nothing, and the planning and fund allocation is weak and vague.

So far, nobody has been able to connect ownership of the tokens with records held by authorities.

A worldwide project of this size in such a big industry would require much stronger liaisons than what the team currently holds.

Since their incorporation in 2017, there have been no major milestones in their project development. Their Pre-ICO is yet to be released. there has been no trading done in this time. 

They have no ability to leverage strong liaisons in the real estate market, especially because of the teams complete lack of experience.

All development is apparently going to happen after their ICO, according to their roadmaps. Their whitepaper allocates 44% of profits to “projects”, without any specificity.

Utility tokens do not represent any right on the project, and should not be considered as an investment; in general, the chances of appreciation are less than what expected.
Investors should be aware of the risks associated to the ”failure to deliver” white papers promises, which can nullify the utility of the token.

To us, the project entirely relies on ICO investors’ funds and that raises a clear red flag on the venture. 

ELAD’s ICO does not have a fair distribution of tokens among the parties:

– information about the pre-sale ico is misspelt on the white paper, showing that writing it was rushed and unedited

– the soft cap is low, meaning that it is extremely unlikely there will be a cancellation of the sale in case of a poor result is achieved at the ICO stage.

ELAD’s team are mostly UK based, however, their chief marketing officer is based in India.

The credentials of the team itself are extremely limited. The CEO is an artist and CEO of another company alongside ELAD.

The team lacks of experience in real estate. Most are also prioritising other projects or jobs. Only three out of fifteen mention ELAD in their linkedin profiles. 

Team:

https://www.linkedin.com/in/dale-perkins-mccook/

No experience in property or cryptocurrency. An artist.

https://www.linkedin.com/in/brennonwilliams/

No mention of ELAD.

https://www.linkedin.com/in/adrianmorson/

Mentions ELAD, but seems to be more prioritised with London South Bank University’s infrastructure.

https://www.linkedin.com/in/steve-craig-67718433/

Mentions ELAD, but seems to be more prioritised with his General Manager Job at De La Rue.

https://www.linkedin.com/in/callum-christie-55492156/

No mention of ELAD, is a director elsewhere.

https://www.linkedin.com/in/damron-macleod-5a29b71b/

No mention of ELAD. Is a computer technician elsewhere.

Harsh Parekh

No linkedin

Darren Brown

No linkedin

https://www.linkedin.com/in/natasha-barnes-1419181/

No mention of ELAD, is a Brand Experience Director elsewhere.

https://www.linkedin.com/in/andrew-brown-b360b14/

No mention of ELAD, doesn’t seem to be currently employed.

https://www.linkedin.com/in/yasmin-ali-416751143/

No mention of ELAD. Works in healthcare.

Advisors:

https://www.linkedin.com/in/amit-parekh-898770a1/

No mention of ELAD. Works in agriculture.

https://www.linkedin.com/in/darren-taylor-5349b71b/

No mention of ELAD. Has worked at Reed Business Information for 14 years.

https://www.linkedin.com/in/davestow/

No mention of ELAD. Works at Ordnance Survey.

Team and advisor:

https://www.linkedin.com/in/jatin-madhra/

No mention of ELAD and is the CEO of three companies.

ELAD displays an incredibly weak team and business. Only three out of fifteen of their team and advisors mention ELAD on their Linkedin profile and the CEO is not at all qualified, previously working as an artist.

Records show a Director that has since been terminated, and their capital amounted to 5GBP when the company was set up.

There is no third party safeguarding and no exit scam proofing. Many claims are unsubstantiated and need further auditing to become valid. Their business plan has also failed with every other company who has attempted it.  

ICA is committed to warning investors against ICOs which have no third party safeguarding the allocation of the funds derived from ICOs, no ICO Funds Supervision Scheme deployed.