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CostsLowHighFrequencyNotes
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Formation of Cayman Foundation $20,000.00$30,000.00One-timeIncludes fees for offshore Cayman/BVI counsel
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Administration (secretary) for Cayman entity$3,000.00$5,000.00Ongoing / AnnualRequired
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Professional independent local director for Cayman entity$10,000.00$25,000.00Ongoing / AnnualTBD on whether this will be required in our case, but likely.
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Supervisor for Cayman entity$5,000.00$10,000.00Ongoing / AnnualTBD on whether this will be required in our case.
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FF estimated legal fees for general counsel $50,000.00$100,000.00One-timeFF is pushing to be at the low end of this range.
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Formation of BVI subsidiary (1st year costs)$4,200.00$4,200.00Ongoing / AnnualRequired, but steps down to $2500 anually going forward.
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Professional independent director for BVI subsidiary$10,000.00$25,000.00Ongoing / AnnualTBD on whether this will be required in our case.
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Regulatory analysis for token issuance for BVI subsidiary$5,000.00$5,000.00One-timeRequired
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$107,200.00$204,200.00
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Total estimated ongoing costs Year 2 and beyond $30,500.00$67,500.00
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