Hi Attila, As a result of questions asked elsewhere (and here), I have further information in relation to the questions you have raised here. Firstly: I do not have more than 75% of the voting rights as suggested below. That was the case /at the time/ of forming the not-for-profit foundation, as someone has to do it - take a look at the "Filing history" tab at [1], there you can see that the link that you provided is dated 14 February 2023. At the same time, /articles of association/ where adopted, in which the rules that the govern the organisation are defined. Following that date two more trustees were appointed. All of us have to abide by the articles of association, by law. You can view the entire articles of association on the last link of the filing history link above. The three community members have devoted a great deal of time to set up a foundation with the sole purpose of benefiting the entire community. We have been open every step of the way and continue to be so. We welcome all comments and constructive feedback so that we may shape a foundation that works for everyone. If any additional clarification is wanted or required, we are here for the entire community. We are happy to set up a call to address any questions that the community may have. In the meantime, we remain at the community's disposal and can be reached on Telegram at https://t.me/geekos_org anytime. Also, FWIW, it doesn't have to be called the Geeko Foundation - the domain name was available so I grabbed it! Best regards - Patrick [1] https://find-and-update.company-information.service.gov.uk/company/14662457 On 08/07/2024 03:50, Attila Pinter wrote:
Hi,
I found that the talk Shawn linked[1] to didn't address many of my questions. Since I couldn't attend the conference, I'm raising them here. Please note that these questions are not criticisms of the foundation or any of its trustees. They are simply checks and balances inquiries, as I couldn't find information addressing these concerns. While talk is cheap, written communication provides clarity ;)
Firstly, has the foundation established an agreement with the Board to act as a financial vehicle for the project? Is there a Memorandum of Understanding (MoU) that the Board members or the Chairman have signed, confirming that the Geekos Foundation can and should fulfill this role?
The foundation has been active for over a year, yet we haven't seen much information from the Board recognizing the Geekos Foundation as the official foundation of the project. Why is that? If the foundation is indeed recognized as the official foundation for the project, this should be communicated clearly by the Board.
Additionally, where can we find the annual reports of the foundation? Even if the foundation hasn't managed any funds since it was established, a report should still be released, as I believe - but could be wrong - this is required by law.
Is there a document that clearly defines the roles and boundaries of the foundation? For example, can it fund development requested by a sponsor, or can it cease funding projects similarly? Who decides where the funds go? Are these voted upon by the trustees?
Lastly, I noticed that Patrick holds 75% of the voting power[2] in the foundation. Is there a reason for this, whether legal or otherwise?
-- Br, A.
1:https://media.ccc.de/v/4091-everything-you-wanted-to-know-about-geekos-but-d... 2:https://find-and-update.company-information.service.gov.uk/company/14662457/...
-- <br/> <b>Patrick Fitzgerald</b> <h3>i-Layer Limited</h3> <hr/> All Support queries to:isupport@i-layer.com