Oh! Don't worry I love Debbie-Downer (just google'd the term hehe :D )

As you said, yes. If people are buying the token expecting future profits they're buying a security. There's no other possible interpretation I guess.

I have been reading about the matter and it's a much more complicated thing it seems.

I'm living in Spain, and for sure won't be doing a lot of paperwork & expenses just to get me started. If that were the case, I would be killing the project before it had even started (minimum costs would surpass by far the initial profits).

My current (simplistic) thinking is:

• Launch the token and MVP; start collecting HBD.
• Start generating profits and increase the value of the fund.
• We grow and it becomes unmanageable for me? Let's start a DAO.
• Legal barriers make it impossible? I'm shutting down and returning to everyone the money.

Don't know if that somewhat answers your (very valid!) concerns.

Official answer from mine in the matter is:

I don't know.

(Ps. but doing my research)

Thanks for the feedback, it's very appreciated.