Doug Scott, loud mouth Geordie entrepreneur living in the Midlands.

Mainframe ICO ( CEO Mick Hagen ) – ICO Transparency Document

Mainframe ICO ( CEO Mick Hagen ) – ICO Transparency Document

Mick Hagen the CEO of Mainframe who are currently doing a public ICO sale has kindly answered these questions, so the public have the information they need to make informed decisions. Thanks Mick for being so open and explaining the changes that have happened at Mainframe and why. The answers have raised more questions which are also shown below, which I have also asked Mick if he can help and answer:

How many years has this company been in existence?

Mick’s reply: 1 month. We created a new Delware C-Corp about a month ago. There was a previous company that many members on the team and shareholders were also part of (that was also a Delaware C-Corp). That company was originally created when we started Undrip and then worked on Spatch. That company was about 6 years old.

How much money has the company raised and over what period?

Mick’s reply: This new company has not raised any money via traditional equity financing. However as you know we’re in the process of our own Token Generation Event. The old company raised just over $5M in traditional equity financing.

How many users did you acquire over this period?

Mick’s reply: In our old company much of our work was on protocols and infrastructure so the idea of “users” wasn’t really relevant. With Undrip I think we had maybe 50k users or so. There was a time when we were working with companies and enterprises — we had a couple dozen that we were working closely with in beta.

Which country is the company registered in?

Mick’s reply:US

What is the citizenship of the founding teams?

Mick’s reply: I’m a US citizen.

Has there been any change in the board of the company in the past 12 months? If so who and why?

Mick’s reply: No. The new entity is brand new. These changes to the Board were required to make sure that we were set up for long-term success. We didn’t want this project to be limited or constrained in any way — especially by a group of preferred shareholders who just didn’t have much experience in crypto or blockchain technology (most of them had invested in us 3+ years ago). We needed to shed some of the legacy baggage that goes all the way back to Undrip (a completely different product).

Has the founding team changed in anyway in the past 12 months? If so who and why?

Mick’s reply: No. It’s a new entity and there have been no changes in the last month. My original cofounder of Undrip (6 years ago) is not with the new company. He left a while ago and we wrote more about it in this blog post

Has there been any change in the shareholders in the past 12 months? If so what and why?

Mick’s reply: All the shareholders from the old company were brought into the new company — with a few changes. All preferred shares owned by existing preferred shareholders were converted to common stock (same class as employees). Preferred shareholder ownership in the new entity has decreased (while core contributor ownership increased). However, to compensate for some of these changes (which many were reluctant to accept at first), they were given a percentage of MFT tokens (with a lock-up/release schedule). Thankfully, every single one of our existing preferred shareholders supported this plan and agreed to it. We spent a lot of time with them communicating why this was important and how it would ultimately be better for them.

Do any of the founding team have any involvement in helping raising finances for other Tokens? Is the person in question regulated to do so? Who?

No, none of us help raise money for other projects. However, some of the team members have participated in other ICOs from other projects from their own personal funds and as personal investors. We’ve only participated in ICOs where we are legally allowed to do so.

I hear you have a syndicate where you raise money for other ICOs, are you regulated to do this?

We aren’t helping raise money for other ICOs. We aren’t promoting these projects and soliciting investment on behalf of them. We are a group of friends who simply pool money together — basically an investment club — and we are participating in ICOs. As mentioned, we use our own personal funds and we only participate where we are legally allowed to participate.

If the ICO is succesful who will control the spends of the money?

Mick’s reply: Our team. People would be trusting us with the funds to make smart and wise decisions. If they don’t believe in our ability to use those funds wisely then they should not participate in the Token Generation Event.

New question: Who is “our team” who legally has control over the spends of the money? What precautions are in place to make sure the money raised is responsibly spent?

New question:What shareholding do you and your brother have of the company?

Can someone please post these into the Mainframe Telegram Group please:

Mainframe on Telegram

Making ICO’s Fair, no Flipping



  • old investors, new investors in coins, founders and staff are unable to sell coins for atleast 3 years and only small amounts each year afterwards.
  • staff’s rewards ( salaries etc ) have caps in place so as to not allow them to drain the bank accounts.
  • if it is decided to close down the company with money still in the bank it is returned fairly in some manner to only previous investors and new coin holders.


Month1 is over – Life Jim but not as we know it ( Linkybrains/Linkbrain )



So I did a month of idiot writing…phew…. ( this has become Linkybrains/Linkbrain ). ( Thanks to alex Dunsdon for the name )

The aim of me writing was so I was forced each day to reflect on life and what I was doing and going to do.

  • During the month I reflected lots more than I ever could have imagined.
  • Lots of people contacted me having read my blog and asked to chat or send advice.
  • People I did meet had read my blog and hence the depth of conversations seemed deeper as they felt they knew me.
  • I could go on and on……but it has been a very interesting time in my head for me anyway…. Sorry if you had to listen to my ramblings.

Some basic findings about myself. Sorry about this but I am writing this for myself to be able to look back at:

  • I can run again without pain in my joints, this is a biggie as I feel free.
  • I like being by myself lots.
  • I appear to be an extrovert but am probably an introvert.
  • I feel like I have done little in my life, but others think it is a lot, sometimes.
  • Many things that are obvious to me are not obvious.
  • Many things people believe are correct I don’t understand.
  • I cannot keep quiet when I feel something is wrong and/or not aligned with my beliefs….. I know I should but I can’t…. like having Touretts.
  • I have an big case of imposter syndrome and feel like people will find out I am a kid from North Shields who went to a bad school and stole from the shops.
  • I was loved and spoilt rotten as a kid and did not realise it.
  • I have spoilt all my kids rotten, but looks like they have vaguely turned out to be morally nice people….annoying, opinionated, smart, nice people…. I should count my blessings.
  • I have a family and group of friends who accept me for what I am and I should appreciate that.
  • I am not an investor….. I love building shit that is stimulating and makes cash ( r has some form of score card )…. the journey is the fun…the money is just the score card.
  • I love helping people who want to be helped and appreciate it.
  • I am crap at having others help me…. I appreciate it but I find it uncomfortable…sorry to everyone who has helped me and I have not accepted the help… I am learning.
  • I can be too believing in what people are capable of.
  • I hope sometimes too much that people can be great.
  • If I like you I want you to be bettar than you want to be.
  • I am a lazy git, unless something massively interest me.
  • I will learn and learn and learn something then get bored and want to do something else.
  • The things I love that money can buy are:
    • nice hotel
    • beds on planes
    • good food
    • FREEDOM of having to be controlled by some one else’s agenda.
  • FREEDOM is my main driver…. I love to be in control of my is a simply a facilitator to allow that to happen. I feel shit when I have to adapt to things….ie getting up early for a plane f’s me off.
  • Drink and drugs and women I have limited interest in most of the time, but when I do I do excess, badly.
  • I like having a goal.
  • I am not good at giving up on a challenge.
  • I love piss take banter.
  • I can be naive of what can happen and hence have gotten into some interesting situations.
  • I can see the future for others, but not for myself.
  • When I give a shit I absolutely hate loosing.
  • I won’t ever be rich as I simply don’t care enough.
  • I love Keyser Soze – sounds awesome except for the killing of people
  • I hate all the political correctness shit – I don’t believe society gets better by ignoring things and not talking about them because some things upset some people.
  • Humour should be cutting and blunt and horrible and be a away for society to live on the edges….some people will get upset, I am NOT sorry.
  • Most things I don’t give a shit about.
  • I need to learn to sleep more, but I have so many things to read, understand, grasp, do…sleep is a fuel I know I need. I need to do more to allow my body and brain to be better.
  • Luckily I sleep anyway very easily.
  • I don’t seem to worry about much.
  • I have a dodgy stomach and need to watch what I eat and drink or I feel ughhh.
  • I find most day to day conversations dull……but some I find wow wow.
  • I can easily create mayhem and distract people.
  • I like most people and can generally see their views quite easily.
  • I love employing people who are opinionated, smart, argumentative twats…..they are challenging but fun and you get lots done.
  • If you work for me don’t expect it to be a democracy…. but you will have open forums to argue with me like a twat and I will respect you more for it. Many times you will change my mind and we will do what you want….especially as I am lazy ( see above).
  • I am shit around idiots and twats as I am rude and blunt…referring to above… I am sorry you are stupid and I am sorry I can’t be more polite around you. I am not sorry I am rude when you are a twat.
  • I like debate, some may called it arguing, I call it challenging debate.
  • I very solidly follow the mantra “Strong Opinions Loosely Held” – show me new data and I will switch beliefs very easily.
  • I believe we are cockroaches living on a rock in space.
  • We may take over the Universe soon.
  • We may destroy the Universe soon.
  • We need to learn to “grow up quickly” as we have immense power being thrust into our hands.
  • We probably are just the bridge from one species on this planet to the next one that we will create….Star Trek was right:





Day 31 – Last Day

4.2 miles


The last day of the month, so I knocked out 4.2 miles and no pain in any joints:):) yes yes yes yes….I run like a little old man but I can run again….:)

Plus I listened about how money is not a motivator and creating bonus structures based on money can be detrimental to achieving goals as the creative side of the brain disengages and sometimes the creative side is what is needed.

Curious day…lunch with Sunny who is doing decentralisation of politics….always a fascinating chat. I will follow up some of his introductions and explore more…..the rabbit hole continues. Upgrading myself to a stronger better me he described my past few weeks….. I like that makes me feel good:) Thanks matey….

More chats with people asking if they should invest in Bitcoin…. I then open up the rabbit hole to them…then they get bored and switch off….. I know they just want to know if they can make easy money…… by the end of the chats they are more confused…..coins will come and go…most will be shit…some will be transformational ….many people will sell snake oil. I am very very bullish on decentralised systems and believe when the dust all settles the world will look very very different….but coins no idea.

Tonight dinner out with 15 of the staff…they still love me enough to invite me:) Thanks guys and girls I still love you all. If you wanted vegetables then the place we went to was the wrong place.


Tomorrow I may write one last post looking back and seeing how I feel and if I learnt anything during this process.

Just seen this from St James Park – wow….this is decentralisation in action:


Day 30 – almost the end

nearly there

One more day of you suffering my rambles.

Went to bed late and woke up at 8am…it was freezing so decide not good for the running lark…not the cold but the iced ground. I have enjoyed going out early when no one is around ( and will continue ), it feels like the world is mine to play in before others come along. Interesting as that made me a think that is is some sort of metaphor to how I like my life to be. Most people get in the way of me playing.. is not meant horribly as lots of people are nice, but I don’t want them to prevent me from playing and being free. Sure there is something deep in this and some reasons in my past that this is important for me.


I feel this image is wrong… Everyone has muddled heads and going to see someone does not make what is inside your head right or wrong….Plus the guy in the white coat probably has a messed up head too:)

I need to find something to do:) I spent the day in the office and on the phone chatting to people about social implications of blockchain/crypto…. I am more confused than when the day started. Rabbit hole…..

At home my darling daughter messed up her slinky:(


I don’t know if you have ever played with these but a slight slip up and the things gets messed up so it can never be good again, like this:



Well my darling messed up her slinky……. Call me sad but I decided I was going to fix it…..Over and hour of looking at it, twisting it, spinning round, but hey presto I got it back perfect:)

Fantasy Football night and Liverpool did me proud and got me lots of points….. Ross you reading I am coming for you…





Day 29 – Odd days


A realisation happens – I need to find something to do:)

Managed 3 mile run at 7am…great way to start the day I am starting to appreciate.

But after that what do I do for the rest of the day? I seem to have delegated things in the companies so well that I now get almost no emails, I have almost stopped hitting the refresh button as I know there wont be anything interesting. I feel like I am just made to do stuff…..trying hard to remind myself that I am taking time out to explore.



The day was spent reading and reading and reading, I have always read loads, now it is getting silly….every blog post on anything I find interesting. This crypto/decentralised stuff is like a rabbit hole, the more I understand the less I understand…… I am now believe 100% that this stuff is going to world changing.

Off to Newcastle at the weekend to do some family stuff, seeing some mates, talking about tech and other things that are happening in the city……anyone around I will be in Campus North a bit.


Day 28 – I slept in


Wow life is getting interesting… I woke up at 8.30 having has almost 10 hours sleep….How did that happen? So missed my morning run:( But probably for the best as had slight pain in right hip.

Out with daughter to watch her play Hockey….told you just none stop adrenaline junky here.

Tears in the afternoon as Newcastle get beaten by Chelsea in the FA Cup 4th round. I won’t be doing Wembley this year….. I did 98 and 99 and we lost both times. Maybe I wills ee them becoming a force in my lifetime.

Read this in the Times:) A few miles from where I grew up and still a great favourite of mine.


More reading about crypto and how trading systems work.

Wonder what I will do tomorrow… I need to find something to do…..

Day 27 – more running


Up early again and did my longest run yet….45 minutes of plodding. Really getting into it…still no pain in joints of note. Downloaded lots of Ted talks on NPR radio makes it a fun learning trip too.

The rest of the day was a nothing dramatic day…..took daughter to kid’s party….but whilst it was going on I did manage to get 2 hours of reading ….I started a few and quickly binned them.  I have a sort of guide about books, if I cant get into the book in the first chapter then I bin it. I know I miss out on loads of good books, but there are lots of books that I will still read all of and they will be fun and easy for me to read…. It works for me. Of 3 books I start 1 I will continue with and occasionally I will try to battle through the one’s that don’t resonate with me.

So I settled on this:


Reads easy so far:)

Avoided gluten and diary all day, which is hard, but gut does feel better.

Love Taleb:) Feel like he gets it:

Try this too


Day 26 – Taxes


But first I get up at 6am and get a 40 minute run in….the best ever, I enjoyed it and felt fresh doing it. I have never been a one for doing things at 6am other than sleeping, but I am enjoying the being on the road, by myself with my podcast playing….podcast is on random play of Tedtalks, which are great.

It’s the end of the year so time for tax returns. My long term friend who has been our accountant for over 25 years comes up for the day…he is a West Ham fan so we always discuss football and many times I have been to see that famous match of Newcastle V West Ham:)

So off we go, I strangely enjoy doing tax returns, once I get into them. It is not that it is tax per se, but it is that once the basic maths are done then the fun starts and the discussion always gets into stranger conversations which starts with tax planning, but the gets into life planning. So what a day eh…I live on the edge…..looking for lost emails about something that I need for the tax return…..but a nice calm comes by the end of the day as most of it is completed…..strange the things that amuse me:)

In crypto world “Coincheck got hacked and $400 million plus has been stolen…wow”. Debating if I will sell my coins and rll into fiat for a while as charts say Coins will drop over next month or so. Still debating.

The food stuff is stilled messed up, trying to mix some keto with no carbs or sugar is messing with my gut….. Going to have to plan this better.

Weighed myself as need have to drop quite a bit for the cycle in June. Current weight is 186lb’s and my goal is 175lb’s….that would make me almost lighter than I have ever been since aged about 16 and probably quite skin and bone….. I am not a skinny bloke but I feel this will start making me skinny.

Collapsed at 10.30pm…literally eyes just shut and gone……this is normal for me and I realise a blessing most people don’t have. I close my eyes and I am a sleep.





Day 25 – Running, Jetlag and Paperwork


Woke at 4am and decided should get back to my running…..was slack on trip, just seemed too hard to do. Headed off about 6am and managed a gentle 30 minutes, whilst listening to a podcast about sleep and why 8 hours gives you more creativity…lots of proof. Talking about why society had started to talk about how “cool” it was to say you had no sleep….. Shakespeare seemingly mentions many times about how good sleep is for you. One of his smart one:

O sleep, O gentle sleep, Nature’s soft nurse, how have I frightened thee.

Into the office for 8.30…ha ha surprised everyone. If I do go in, it;s normally about 11.30, as I do like my morning time by myself. Today is me trying to sort out my personal tax filing and finding all the data for my accountants….it’s going to be a long day. In my mad time of invested in over 400 companies, directly, indirectly….madness…now I am trying to sort out the paperwork….ugh.

Also made half effort to try to get food eating back on track…messed up a bit…keto mixed with no diary and no gluten. I need to plant his better….wind and acidy stomach from the plane is ugh..

Chatted to my darling 17 year old son about life and some wisdom of age…..he just shrugged and ignored me as I give him huge hugs….. 6 foot 3 now….milkman must have been tall.

Collapsed again at 10pm…jetlag exhausted.


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