Tokenomics
Token Details
Name: BeToken (BTK)
Supply: 17.841.900
Standard: ERC-3643
Token Distribution
Beself Brands has the following equity structure as of December 31, 2024 (unaudited balance):
Share capital: €148,707
Legal reserve: €45,800
Other reserves and issuance premiums: €775,901
Total equity: €970,408
The company, through the conversion of shares into tokens, will have a total of 17,841,900 tokens.
The one billion tokens created will be distributed as follows:
14,870,700 tokens to current owners
2,971,200 tokens offered to new investors
Each token will correspond to a €0.01 share in the company’s capital.
Distribution of Received Funds
Vesting & Unlocking
Investors who hold the Tokens at the end of the first year will receive a reward in the form of a donation (only attributable to new shareholders) of 10% of the investment made, proportional to the number of Tokens acquired.
Valuation Mechanisms and Possible Rewards
New shareholders who retain their Tokens for one (1) year after acquisition will enjoy a reward in the form of a monetary donation from the Issuer, amounting to 10% of the investment made, proportional to the number of tokens acquired, provided the Issuer achieves distributable profits in the 2025 fiscal year. This means that profits will be distributed after meeting and covering legal and statutory reserves, offsetting previous year losses, and other concepts established in the Spanish Capital Companies Act.
Example:
Total amount raised by Beself Brands in all its phases and pre-sales: €7,962,816.00
Total reward: €7,962,816.00 x 10% = €796,281.60
An investor who acquired 3% of the new tokens will receive: €796,281.60 x 3% = €23,888.45
To achieve this, the Issuer commits to allocating an accounting reserve to block the amount corresponding to 10% of the token sales.
This donation will be paid within the month following the approval of the annual accounts for the 2025 fiscal year.
Projected growth and value of the token.
Value of the current company according to the base scenario
The current value of Beself Brands at the beginning of the Project amounts to 49,008,000 €
For the calculation of the current value, the base scenario has been considered, a cash-flow of the project has been prepared based on the cash inflows and outflows of the income statement items (EBITDA, financial costs and taxes).
The investments defined for each year correspond both to the investments in technological infrastructure and website development shown in the “Destination of investment” section of the whitepaper (see table below) and to other investments that will be necessary for the organic development of the business.
The variation in working capital, i.e. working capital, is a consequence of the increase in activity. It is calculated taking into account the usual terms of payment of suppliers and creditors, international taxes and the collection periods for sales made. The effect, given that the collection period is significantly shorter than the payment period, is positive in each year.
To determine the current value of the Company, future cash flows have been updated using a WACC of 15.3% and a residual income for the years following the completion of the described project, assuming organic growth in line with the long-term average inflation rate (2.0%). As a result, the present value of the expected cash flows amounts to €46,142,000.00.
If we consider that the financial value of the company's debt at the end of fiscal year 2024 is €5.1M, and the capital increase contribution explained in this whitepaper, the company's valuation, as shown in the table at the beginning of this section, amounts to €49,008,000. Given the total number of tokens created, this results in a theoretical average value per token of €2.7.
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