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Re 20254376S 1258 Lily Street - Buyer Rescind - Ohio 3 Property Package, Akron, Ohio 44117.pdf

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From: ECO Systems LLC ecosystemspm@gmail.com Subject: Re: 20254376S / 1258 Lily Street Date: August 12, 2025 at 3:21 PM To: Michael Magno michael@themagnogroup.com Cc: William Sebastian admin@themagnogroup.com Thanks. And I meant to say there’s absolutely no issues with title, just issues with the title company. We provided everything they asked for and needed, repeatedly. That’s okay, We don’t want to work with them anyway. Title companies are a dime a dozen, so let’s move on. Golden Title was

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From: ECO Systems LLC ecosystemspm@gmail.com
Subject: Re: 20254376S / 1258 Lily Street
Date: August 12, 2025 at 3:21 PM
To: Michael Magno michael@themagnogroup.com
Cc: William Sebastian admin@themagnogroup.com
Thanks. And I meant to say there’s absolutely no issues with title, just issues with the title company. We provided everything they asked for
and needed, repeatedly. That’s okay, We don’t want to work with them anyway. Title companies are a dime a dozen, so let’s move on.
Golden Title was simple and painless on Bowmanville, I don’t know why Lily wasn’t the same way.
On Aug 12, 2025, at 3:13 PM, Michael Magno <michael@themagnogroup.com> wrote:

EarlNo they are not. You cannot convey clear a title.
And unfortunately I cant blacklisting the title company, as I am a partner there.
I’ve closed over 250 transactions with them, and never had an issue.
At the end of the day, it’s their underwriters decision, and there isn’t anything
you and I can do about it.
We’ll simply use a different company for your transactions.
Mike
Michael Magno
The Magno Group
Keller Williams Living
michael@themagnogroup.com
From: ECO Systems LLC <ecosystemspm@gmail.com>
Sent: Tuesday, August 12, 2025 5:09:02 PM
To: Michael Magno <michael@themagnogroup.com>
Cc: William Sebastian <admin@themagnogroup.com>
Subject: Re: 20254376S / 1258 Lily Street
There is no issue with title. What a stupid reason. Blacklist that title company. Let’s put it back on the market at $75k.
On the other hand, isn’t the buyer contractually obligated? At the very least, they should lose their EMD.
On Aug 12, 2025, at 2:35 PM, Michael Magno <michael@themagnogroup.com> wrote:

Hi EarlUnfortunately due to this issue with title, the buyer does not wish to move
forward on the transaction. I asked them to switch title companies, but
unfortunately they are just not comfortable with the circumstances, and since we
can't currently get them clear and marketable title, there isn't anything we can do
otherwise.
We can go back to market. I sent over a release for you to sign.
Thanks

Mike Magno
330-990-3744
Book A Strategy Call

From: Jerry Chu <jerry@lofty.ai>
Sent: Monday, August 11, 2025 5:26 PM
To: ECO Systems LLC <ecosystemspm@gmail.com>
Cc: Marty Caja <marty@americantitlesolutions.com>; Max Ball <max@lofty.ai>; Michael
Magno <michael@themagnogroup.com>; William Sebastian
<admin@themagnogroup.com>; Diana Magno <Diana@themagnogroup.com>; Amanda
Pospisil <apospisil@americantitlesolutions.com>; Sierra MacPherson
<sierra@americantitlesolutions.com>; Rose, Jr., Frank <Frose@oldrepublictitle.com>
Subject: Re: 20254376S / 1258 Lily Street
Hi Marty,
To add to Earl's responses, please refer to my earlier email message with another member of your team.
There are no member names or traditional signatures.
This is a DAO LLC. For context, a DAO LLC is legally an LLC, but functions differently in terms of
management and operations versus traditional LLCs. Its unique way of operations is fully legal and
authorized by the state of WY––the state where the entity was formed.
Learn more here: https://www.wyoleg.gov/Legislation/2021/SF0038
The executed Operating Agreement for this DAO LLC is governed by its smart contract under contract ID
920013306 and can be viewed at the following URL–https://allo.info/application/920013306.
Unlike a traditional LLC, whose operating agreement must be executed through physical signature, all of a
DAO LLC’s agreements must be signed through its smart contract using a member’s private key from their
wallet on the relevant blockchain. The transactions for this smart contract serve as the signatures of a
traditional operating agreement.
Here is a reference video on how to view the member votes/signatures on the blockchain https://www.youtube.com/watch?v=rdI8xwLEt6o&t=2s
Essentially, it's a multi-member LLC, where the members ratify and sign for decisions through electronic
voting online, which they sign for digitally using a unique blockchain wallet that only they have access to.
Those votes are publicly available to view on the blockchain.
Using this system, these members have granted Lofty AI, Inc the right to sign as an authorized person on
their behalf for the purchase and sale of the underlying property held by the DAO LLC, but only if their was a
ratified vote to purchase/sell the property.
In this specific case, there was a vote to sell the property at the represented price. They granted Lofty the
legal right to sign on their behalf, hence why we're authorized to complete this transaction.
This may be the first time you've encountered an entity like this or one that's using technology in this way,
but everything is valid and legally sound. We've signed for dozens of DAO LLCs at this point on closings
and many other title companies have underwritten these transactions with no issues.
Best,
Jerry Chu
CEO, Lofty AI
web: https://www.lofty.ai
email: jerry@lofty.ai