Demo only — this investigation, its subject and its sources are fictional. It demonstrates how a real case is presented.
DemoPay promised not to sell its DemoCoin before 2026. Its filings show it didn't
In February 2024 DemoPay CEO Juno Park committed that the company would not sell any of its DemoCoin treasury before 1 January 2026. The company's audited annual report shows the same 4,000 units at the end of 2023, 2024 and 2025, with no disposals.
The original statement
Exact quotationWe will not sell any of DemoPay's DemoCoin treasury before January 1, 2026.
Context
A company commitment about corporate holdings, not the CEO's personal holdings.
What happened afterward
Documented recordAudited filings show no disposals of the DemoCoin treasury through 31 December 2025.
The investigation
DEMO ONLY — every person, quote, source and number in this case is fictional.
DemoPay's February 2024 treasury policy statement quoted Park: "We will not sell any of DemoPay's DemoCoin treasury before January 1, 2026."
Outcome
Note 9 of the 2025 annual report lists 4,000 DemoCoin held at each year-end from 2023 to 2025 and states there were no disposals. The commitment was kept.
Scope
The commitment covered the company's treasury, not Park's personal holdings, and we have not assessed those.
Evidence
2 sources- Exhibit A
DemoPay treasury policy statement (DEMO)
DEMO — "We will not sell any of DemoPay's DemoCoin treasury before January 1, 2026." — Juno Park, CEO
- What it shows
- The company's dated, explicit no-sale commitment.
- Identity / ownership
- Independently established
- Exhibit B
DemoPay annual report 2025, note 9: digital assets (DEMO)
DEMO — DemoCoin held: 4,000 units at 31 Dec 2023; 4,000 units at 31 Dec 2024; 4,000 units at 31 Dec 2025. No disposals during the period.
- What it shows
- No disposals of the DemoCoin treasury through 31 Dec 2025.
- What it does not show
- Anything about the CEO's personal holdings.
- Identity / ownership
- Independently established
Timeline
No-sale commitment announced
Treasury policy statement.
Commitment window ends
Annual report confirms no disposals
Limitations
What this does not establishYear-end balances cannot rule out a sale and repurchase within a year; the note's "no disposals" statement covers that.
Subject response
Right of replyResponded
“We said we would hold, and we held.”
Correction history
No corrections. If you spot an error, tell us.