What's unbelievable is the lack of sophistication on Kik's part. Any lawyer working for them should've responded immediately to this statement (and their genera

What's unbelievable is the lack of sophistication on Kik's part. Any lawyer working for them should've responded immediately to this statement (and their general nonchalance about the issue) and advised to shut the ICO down immediately. You literally can't make this any easier for the SEC. There's not much of a defense when you repeatedly admit that you're attempting to raise money by issuing something you market as an investment opportunity.