Hello dear investors,
There is an important update on the USI Tech community. It is to your interest to read, digest and play along according to the updates.
USI TECH released two updates on 6th March, 2018. One is the Repayment Plan which is contained here; the other is about the Compliance update. You are mandated to read the USI TECH compliance update here.
If you are new to USI-TECH, click here to read the review and registration procedures
Explanation of the Repayment Plan for BTC Pack 1.0, Commissions and Available Balances is contained here for you to read.
In the interest of transparency and understanding, we provide the following information and request your support so we can ensure no one suffers a loss from their involvement in USI-TECH. We understand this process will take some time to return everyone BTC however this is the only path forward possible to ensure everyone comes out positively.
The income from the direct sale of BTC 2.0 Package sales is split as follows:
- 35% to commissions for the referring upline
- 15% for company expenses
- 50% for repayment of: (obligations at 24th Feb, 2018)
- Remaining 1.0 package
- Outstanding commissions
- Prior wallet balances
The mining income from the USI-TECH controlled mining is split into 5,200 packages per Petahash. Currently USI-TECH has 110 Petahash allowing 572,000 packages to be sold.
The daily income less electricity costs for the mining is divided evenly between the packages.
The mining income for any unsold packages is allocated to the repayment of the obligations above. In other words, if 30,000 packages are sold, the remaining 542,000 packages that are unsold will have their allocation of mining revenue that day allocated to paying the obligations.
USI-TECH has also invested previously in Ethereum mining which will also be used to fund the repayment of the obligations on a regular basis after expenses. Eth will be exchanged for BTC in appropriate market conditions and then distributed to the obligation pool.
An additional 600 Petahash of mining will be brought on line over the next few months that will further increase USI-TECH capacity to increase the payment volume towards the obligations.
All the funds available daily for the repayment of obligations as of the 24th of February are divided and paid proportionally on a “shares” basis using the allocation set aside for repayment based on the following formula:
The “shares” repayment works as follows:
- For each 0.001 BTC at that time the member receives one share of the split.
- If there is a fraction, then the share count rounds up.
- Those owed less than 0.001 BTC are rounded up to one share.
All commission balances, all wallet balances, all remaining pack balances to 100% regardless of how they were paid for, will be paid for fully over time using this formula. USI-TECH retains the right to amend the formula should such be necessary for the sustainability of the business and the greater good of the majority of members.
Further Explanation of 1.0 Package Rebuy Purchases:
All packages purchased will be repaid up to 100% of original purchase price, regardless of the method paid for the package, including rebuys and partner rebuys, external payment. Rebuys made for partners will be repaid to the partner that received the packages.
All BTC 1.0 Packs that have received 100% or more of their initial BTC value are expired and are NOT considered for repayment.
- You purchased 1 BTC of BTC 1.0 Packs
- To date you have received 0.7 BTC in returns (0.3 BTC left to be paid to meet 100%)
- You used the 0.7 to rebuy more BTC 1.0 Packs
- You will receive 100% of the BTC value paid for the 0.7 BTC paid for the rebuys
- The net value you will receive is 1.0 BTC less any previous withdrawals
- You purchased 1 BTC of BTC 1.0 Packs that returned 1.4 BTC
- You did rebuys to the value of 1.4 BTC
- The rebuys have been paid 0.8 in returns to date
- 6 BTC is left to be paid to meet 100% on the rebuy packs
- You will receive 100% of the BTC value paid for the 1.4 BTC rebuys less any previous withdrawals
We have stated our intention repeatedly that we will, and have made the hard decisions to ensure that everyone involved in USI-TECH does not suffer a loss of BTC. The above plan was the only option given the losses we faced to enable the business to move forward, and for us to be able to achieve the intention of 100% BTC repayment. We understand this may not be the outcome some were expecting, however the return of your BTC is our priority. Lessons have been learned, additional systems and checks have been put in place.
We have redesigned our BTC Pack 2.0 product so it is fully transparent and sustainable ensuring the USI-TECH family can move forward with total confidence. Our success was only possible due to your belief in us and we thank you for that. We ask you not to judge us by the mistakes made, but instead by how we have worked to resolve the challenges that confronted the company. Our mission is and has been to protect your interests, and the ability of the business to move forward and prosper.
So many lives have been positively affected by USI-TECH. We thank you for your part in that process and ask your patience and positive participation as we move forward to returning everyone’s BTC.
Above is the update based on the repayment plan. Now, read the USI-TECH Compliance Update.