good point! Thank you for the hint. I compared the Whitepaper versions too. If [that Whitepaper what i assume is newer](https://trueflip.io/TrueFlip_WP.pdf), then i'm concerned too. The wording has changed and so the meaning. In the prior WP we'd read

Older Whitepaper BEFORE end of crowdsale

>Once the **ICO** is completed, the TFL Token will be available for trading on cryptocurrency exchanges. At the moment, we negotiate the details with several exchanges and will announce the results as soon as the agreements are reached. TFL Token is the main investment asset of the True Flip platform. It guarantees the Token holders a daily bonus in BTC: 10-15% from each sold ticket will be distributed among all Token holders as dividends: >- **dividends are accrued daily** after each draw; >- **dividends are paid 4 times a year** according to the results of each quarter; >- the **amount of dividend** (within 10-15% of income) is determined by the Token holders voting; >- the owners of the Tokens are notified in advance of the date of payment; >- to **receive a dividend, the holders must park their Tokens on the lottery server**; >- **dividends will be calculated only on the parked Tokens** in proportion: https://s1.postimg.org/klzsp12f3/trueflip_old_formula_dividends.png >The scheme of **paying dividends** and determining the list of persons entitled to receive it is **similar to the mechanism used in traditional corporate practice**. Therefore, we assume that the dynamics of the TFL quotes will be affected by the calendar features in the same way **as traditional stock assets** - for example, there will be dividend gap in the shares. From our point of view, this will help to increase the speculative attractiveness of the TFL Token. >Histogram of the **TFL Token dividend yield, depending on the market share**: >(diagram with legend: TFL Token **dividend yield, in BTC**)

[New Whitepaper current version](https://trueflip.io/TrueFlip_WP.pdf)

>Once the **Token sale** is completed, the TFL Token will be available for trading on cryptocurrency exchanges. At the moment, we negotiate the details with several exchanges and will announce the results as soon as the agreements are reached. **TFL Token allows its owners to participate in a special quarterly game** held only among the TFL Token holders. Its prize fund is formed by 10-15% payments from each sold ticket in the following manner: >- payments are assigned to the fund daily after each draw; >- the **Token owners game is held 4 times a year**; >- the amount of funds assigned to the fund (within 10-15% of income) is determined by the Token holders voting; >- the owners of the Tokens are notified in advance of the date of the game; >- **to participate in the game, TFL Token holders must verify their ownership through a smart contract**; >- **TFL club prize** fund will be formed in accordance with the following proportion: https://s1.postimg.org/pbad2qp67/trueflip_new_formula_tfl_club_prize_fund.png >Histogram of the potential Token holders game winnings relative to the value of the purchased tokens, depending on the market share: (diagramm with legend: **Potential Token holders game winnings relative to the value of the purchased tokens, in BTC**)

as screenshot with markup (left = old, right = new)

https://s2.postimg.org/81aqawpm1/trueflip_changes_whitepaper.png In the screenshots it's obvious that we are in the same section of the whitepaper, but wording and meaning have changed completely in the following manner, concerning examples: **dividends are paid 4 times a year** ----> **Token owners game is held 4 times a year** **to receive a dividend** -----> **to participate in the game** **dividends** -----> **TFL club prize** **TFL Token dividend yield** -----> **potential Token holders game winnings** If i read that as an investor i think: "I'd invested in Trueflip because of a dividend based on revenue of ticket sales. Now i should get just the right to participate in a lottery and if i'm lucky then i may receive a prize. I hope that Trueflip had changed the wording because of legal reasons but intend still like written in the whitepaper (on which investors made their decision before and in the crowdsale!) to pay 10-15% from every sold ticket. Because every serious investor had invested because he gives his money to get a payment from revenue and not to gamble. Another thing i'd noticed, you changed from **ICO** to **Token Sale**. From the legal side it makes a big difference. [Julian Hosp from TenX explained that in detail,](https://youtu.be/v4rUbjQgCLE?t=3193) (just available in German). From the financial side a token sale is taxable, a ICO is a investment. video by TenX
Please give us a explanation on that Trueflip-Team.