Avalon Life abandons Canadian IPO, blames affiliates
Avalon Life started out in 2016 as an AVLX altcoin investment scheme.
AVLX didn’t go anywhere and was abandoned about a month after launch.
In mid 2017 Avalon Life rebooted as a Dash mining opportunity.
A few months later Dash was abandoned in favor of mining Pura Vida Coin.
By all appearances, Pura Vida Coin appeared to be Avalon Life’s second attempt to launch an altcoin.
By late 2017 Avalon Life appears to have quietly abandoned Pure Vida Coin.
Marketing material for a “Bitsurge token” first appeared on Avalon Life’s YouTube channel on December 11th, 2017.
This appears to coincide with CEO Tom Koller being replaced by Thomas Graf.
Avalon Life also switched its website domain to an .io variant, on which Graf is credited as the company’s founder and CEO.
On April 6th Thomas Graf announced via video that Avalon Life was close to launching an IPO in Canada.
Graf (right) stated that, pending approval from Canadian Securities Exchange, public trading of Avalon Life would begin on April 16th.
Naturally April 16th came and went and, not surprisingly, Avalon Life failed to appear on the Canadian Securities Exchange.
Graf appeared in another video on April 17th to address the situation.
Citing “unfortunate circumstances”, Graf claimed “internal auditing” had revealed “deceitful activities” relating to Bitsurge.
As far as I can tell, Bitsurge launched as an internal Avalon Life token and never went beyond a Ponzi contract scam.
Rather than acknowledge Avalon Life failure to register its multiple altcoin securities offerings, Graf blames affiliates for the IPO failure.
Internal auditing has discovered a large number of cases involving massive manipulation by our members regarding the Bitsurge product.
This means we had to question on which road to continue with this product and the process.
This incident is very disappointing.
Graf announced he had terminated an agreement with Bitsurge as of April 14th. Avalon Life affiliate recruitment had also been suspended.
Despite Avalon Life seemingly having finally collapsed, ten days later Graf appeared in another video to spruik a “blockchain cruise” in Florida.
Internally things appear to have taken a turn for the worse.
An undated communication in the Avalon Life affiliate backoffice confirms the planned Canadian IPO has been cancelled.
Dear Avalon-Life Community:
The initial Public Offering of Avalon Blockchain has been cancelled.
As we previously informed you, about six weeks ago, the Canadian Stock Exchange confirmed the listing of Avalon Blockchain.
Thomas Graf decided last week to cancel the initial public offering.
It has been agreed with the partners in Canada not to disclose any information on the reasons.
Yours, the Avalon-Life Team
Whether there was any actual attempt to publicly list Avalon Life is unclear.
What should be clear to investors is that, real or not, the touted CSE listing is typical Ponzi smoke and mirrors.
Having been stealing from gullible Avalon Life investors since mid 2016, Graf and his “partners” need an out to make off with the money.
A failed IPO bid has emerged as the ruse of choice.
Despite there being no apparent reason for an Avalon Life IPO, Graf can now point at the CSE and wash his hands of investor losses.
As I write this Alexa estimate the majority of traffic to the Avalon Life website originates out of Greece (37%). Ecuador is the second largest at 6%.
The probability of Greek or Ecuadorian authorities pursuing Graf in his Costa Rican hidey-hole is slim to none.
Graf’s location and lack of ties to Canada is also why Canadian authorities are unlikely to pursue the matter either.
Long story short, if you invested in Avalon Life’s various pump and dump altcoins – you’re screwed.