FAQs specific to Southern Cryonics (SC)
To become a Founding investor, does the $50,000 have to be paid in full by 31 March?
To be a Founding Member you need to pay AUD$28,000 immediately. That is what all other Founding Members have paid to date based on calls to their commitment of $50,000. The balance of $22,000 will be payable about middle of 2020.
What is Southern Cryonics refund policy?
Stasis Systems Australia Ltd t/a Southern Cryonics (SC) is a public company limited by guarantee. It is a non profit and according to ASIC rules and our Constitution there will be no refund of funds deposited. In all of these type of ventures there is always some business risk. Please be very aware of that. We are trying to minimise it by firstly, being very prudent how we manage the project and long term activities and secondly, making sure we have adequate financing. You may remember that we needed at least 16 Founding Members to have a viable long term operation. With the current 27 (soon maybe 29) we believe we are more than adequately financed.
What will it cost?
Very briefly if someone joins now as a Founding Member it is $50K commitment now, which entitles you to a free suspension at the facility, after we are operating. This offer is only open to 31 March 2020. After this date until just before we operational then it is a $70K commitment to be a Full Member, again entitling you to a free suspension at the facility, after we are operating. If after Southern Cryonics is up and running, it is $150K plus a yearly subscription fee of about $350. This $150K however, is payable at the time of the suspension, perhaps many years in the future, but also could be subject to inflation. Usually the $150K is paid through life insurance.
Is there a written contract that we will have to sign (either Founding investors or other people)?
Regarding the $50,000 Founding Member investment and $70,000 Full Member investment, there is no contract. The actual agreement is in the Constitution. i.e. very briefly that a Founding Member and Full Member will be entitled to one free suspension for themselves OR anyone of their choosing, at the facility, after the facility is operating. We are however writing some policy guidelines to expand a little on this, but they will be in accordance with the Constitution.
For the $150,000 subscription/associate memberships, which will be available after SC is operating, there will be a standard members type agreement similar to what CI and Alcor now have. We are preparing it now.
Think about it this way. Founding and Full Members are like the investors. They invest to get the operation going. The $150,000 subscription/associate members are like clients/customers after we are operating.
The facility will be able to store up to 40 patients. If there are already 27 Founding investors does that mean that at most 13 other patients will be able to be stored?
The current stage 1 facility has room for about 40 patients. If we go by the current mortality tables and the expected number of members, it will take about 28 years to fill the 40 spots. That is in the stage 1 warehouse of 100 sqM. The land is 3300sqM and we have built this stage 1 to be easily scalable. i.e. we keep adding 100sqM or greater lots of warehouse space as we need it. The land can take about 600 patients which is forecast to be reached in 100 years. That is if we build the same way as we do now. We may then go underground/second story/ new adjacent land which makes the numbers we can store even greater.
What exactly will the fee of $50,000 for Founding Member, $70,000 for Full Members or $150,000 for Associate Members cover? Will it include standby, stabilization and transportation (SST)?
All these memberships fees will only cover the suspension and long term storage at the site. SC do not handle standby, stabilization and transportation (SST). Other organizations like CryoPath handle SST. They will cover major cities/towns in Australia. The cost is currently estimated to be about $15,000 to $25,000 depending on where the patient is in Australia.
What is cryonics?
What other organisations are offering cryonic suspensions?
Don’t ice crystals form during freezing and damage all the cells?
Modern methods of cryonic suspension involve using protective solutions that prevent the formation of ice crystals and result in vitrification, of the tissues. This has been shown to preserve cell and tissue structure very well. Even in older methods, ice crystals don’t generally puncture cells as they form, they dehydrate the cells and make them shrivel up. This damage should also be eventually repairable.
How much does it cost to be preserved?
Currently, Alcor charges US$200,000 and CI charges US$35,000 for whole-body suspension. Alcor also offers head-only suspension (called a neurocryopreservation) for US$80,000. For Australians and others living outside the US, additional funds must be set aside to pay for preparation and transport of the patient to the US after the pronouncement of legal death. This costs on the order of $50,000 Australian.
Southern Cryonics plans to offer whole-body suspensions for approximately $150,000 Australian. This includes the process of bringing the patient to liquid nitrogen temperatures and long term storage.
Isn’t that expensive?
It’s a significant amount of money, yes, but you are buying an experimental lifesaving treatment, not an expensive funeral. The bulk of the funds are put in trust to provide interest to pay for ongoing storage costs such as liquid nitrogen. Please also remember that most cryonics suspensions are funded from life insurance which at about age 40 costs about $500 a year.
It sounds like a scam. Who’s getting rich?
The majority of people working in cryonics organisations around the world are volunteers, and certainly nobody is getting rich. The initial investors in Southern Cryonics are not expecting any financial return – we are “building our own lifeboat” and funding our own suspensions.
I’d prefer to leave my money to my children.
If cryonics had no chance of working, so would we. But if you think about a cryonic suspension as a lifesaving treatment, consider whether your children would prefer you to save your own life or die and leave them some extra money. Most cryonicists try to persuade their parents to sign up for cryonic suspensions, because very few people want to see their parents die if there’s any other choice.