General Terms and Conditions for the Purchase of Utility Packages for a Public Initial Token Offering (ITO)
These terms and conditions apply to the sale of the ProtecTHOR token under the Initial Token Offering (ITO).
These Terms and Conditions are agreed between Projecthor DOO, a European Company (hereinafter "Company"), and any legal entity or individual who has satisfied the terms and conditions set out in these Terms and Conditions (hereinafter the "Terms") and has agreed to these Terms and Conditions.
Only these terms and conditions are binding for the entire sale. Other terms and conditions that deviate from this, in particular those of the contracting party, are not part of the contract
In the summer of 2018, the company Projecthor plans a novel ecosystem to open ProtecTHOR.me. The access and use of this sustainable ecosystem is to be ensured by the creation of its own digital utility token the ProtecTHOR token. This ProtecTHOR token is incrementally delivered to market with dynamic initial management with an initial token offering: the amount of this token is then quantified by a sustained, controlled policy to limit the price volatility of the token and ensure that the token performs its functions means of payment for the exchange of goods and services within the ProtecTHOR ecosystem.
The participant acquires against payment to the Projecthor as part of the Initial Token Offering a utility package, which grants him access to the ecosystem ProtecTHOR and usability with the most diverse applications. With the approval of the ProtecTHOR tokens for public trading on at least one crypto exchange (planned for spring 2019), the participant will also be allowed to freely trade the tokens.
The Company expressly states that the purchase of this Utility Package entails significant risks, which are described in detail in the Risk Disclosures in Appendix 1 and for which the Company can not give any assurance that such risks will not materialize.
Having said this, the company and the participant agree as follows:
1.) Scope and priority of the terms and conditions:
1.2. If any inconsistencies between these Terms and Conditions, including the Risk Disclosures (see Appendix 1) and the Whitepaper, occur, these General Terms and Conditions, including the risk warnings (see Appendix 1), shall prevail.
1.3. These terms and conditions govern only the contractual relationship between the company and the participant of this initial token offering and therefore do not give any third party any rights or claims with third-party protection.
2.) Price of the token and token lifecycle
2.1. The initial price is 0.15 EUR per ProtecTHOR token. Accepted currencies are the currencies EUR and the crypto currencies Ether ("ETH") or Bitcoin ("BTC"). Pricing based on offer and demand of tokens only takes place with the beginning of the public trading of the ProtecTHOR tokens with the start of trading on at least one crypto exchange (planned for spring 2019).
2.2. The company is selling the utility packages as part of the ITO as follows:
The sale begins on 25.07.2018 at 13:00 CEST and ends on the planned IPO at 13:00 CEST. 2.3. During the sale of the ProtecTHOR token, the following discounts are granted:
- Until 31.10.2018 0.05 EUR staggered to 0.15 EUR
- Until 31.12.2018 0,10 EUR staggered up to 0.20 EUR
- Until 31.01.2019 0.16 EUR staggered to 0.26 EUR
- The above offer is limited to 730,000,000.00 PTX tokens, and if the Issue Round is still available at that time.
- from 01.02. 2019 until the planned IPO, no further discount will be granted.
3.) Technical prerequisites
To be able to purchase the utility package, each participant first needs an internal ProtecTHOR wallet, via which the utility package is offered. The Company reserves the right to impose additional policies for certain Wallet requirements.
4.1. The participant affirms that he has reached the age of 18 or above and is capable of acting effectively, to complete the purchase of the utility package and to use the digital services of Projecthor and its affiliates. If legal provisions make the use of digital services on the platform to reach a higher age limit, the participant undertakes only when this age limit to purchase utility packages and to use digital services on the platform.
4.2. If the participant acts for another legal entity, he hereby assures that he is entitled to conclude the contract on behalf of that legal entity and that this person is responsible for the violation of these general terms and conditions.
5.) Purpose of the ProtecTHOR token in the ProtecTHOR.me ecosystem
5.1. The purpose of the ProtecTHOR token is it to provide access to the ProtecTHOR.me platform and the use of digital services offered there. The ProtecTHOR token has the function as a digital brand currency to ensure the exchange of services, goods and products within the ProtecTHOR.me ecosystem.
5.2. The purchase of the utility package, possession and receipt of the token grants the right to access the ProtecTHOR.me digital platform for services and to act as a means of payment within the ProtecTHOR.me ecosystem. Conversely, the acquisition of the Utility Package does not entail any ownership rights or, in the future, a share or securities right at Projecthor. Likewise, the buyer of tokens does not acquire any debt claims on future income, distributions, or intellectual property rights, or any other form of participation in the ecosystem or the company Projecthor that operates the ecosystem.
6.) Cancellation, withdrawal from the contract of sale / suspension of sale
6.1. Purchases of utility packages are final in the sense that no refund or cancellation of the purchases can take place unless required by mandatory legal regulations or these terms and conditions expressly provide.
6.2. The Company reserves the right to refuse or cancel purchase requests from Utility Packages at any time in its sole discretion and to limit the amount.
6.3. In addition, the Company may suspend the Utility Package Sales at its sole discretion. The reasons for this may be, in particular, the strong price volatility of the currencies Ether ("ETH") or Bitcoin ("BTC") or the suspicion of systematic fraud when purchasing utility packages and the contained tokens, or over-utilization of the company's IT systems or an external service provider commissioned by him.
7.) Responsibility for security of the wallet and the storage medium
Participant is responsible for implementing appropriate measures to secure his or her wallet, Backoffice or other storage mechanisms used to obtain and hold the tokens. This includes the private keys or other access data used to access the storage medium starting with the introduction of public trading. If the private key or other access data is lost, it is possible to no longer have access to the acquired tokens. The participant is therefore responsible for losses, costs or other expenses related to the lost access data.
The Company may, at its discretion, require the participant to provide necessary information to comply with or not violate any applicable laws or regulations relating to the sale of the Utility Packages. By purchasing the Utility Package, the Participant agrees to promptly provide the information requested by the Company. The Company reserves the right to withhold or discontinue the sale of the Utility Package until the Participant provides the requested information and ensures that the sale of the Utility Package does not violate any applicable laws or regulations.
9.) Guarantees and assurances of the participant
By purchasing the utility package, the participant also explains and guarantees the following:
9.1. Participant has read and understood these Terms and Conditions, including the risk notices in Appendix 1, and the White Paper and Legal Notices.
9.2. Participant confirms that he / she has read and understood the instruction on the right of withdrawal according to section 20 of these terms and conditions.
9.3. Participant acknowledges having sufficient understanding of the technical, financial and business matters relating to the acquisition and use of tokens, including cryptographic tokens, storage mechanisms (such as wallets and blockchain technologies) to understand these Terms and the associated risks for him.
9.4. Participant agrees and acknowledges that the ProtecTHOR Token is in no way a security or other form of investment product and that this token is intended to function as a currency and means of payment within the ProtecTHOR.me ecosystem, but has no added value until the IPO ,
9.5. Participant agrees that this Token does not confer any other rights whatsoever on the ProtecTHOR.me ecosystem or on the Company or its affiliates operating the Platform, whether in the form of shares, interests or claims under any laws of the future Income, profit distributions or other rights under corporate law such as voting rights, information rights, etc.
9.6. By purchasing the Utility Package, the participant confirms that he fulfills all the tax obligations in his country that might result from this purchase and use.
9.7. Participant assures that he is not a citizen or permanent resident of the following states: The People's Republic of China, Hong Kong Special Administrative Region, Singapore, Thailand, Bolivia, Ecuador, Bangladesh, Iceland, South Korea, Kyrgyzstan, Nepal, Morocco, Republic of Vietnam, Yemen, Tunisia, Trinidad Tobago, Ethiopia, Iraq, Sri Lanka or is a resident of a country in which American embargoes and sanctions are in force such as Iran, North Korea, Syria and Sudan.
9.8. Participant warrants that it is neither US citizen nor resident in the United States, nor does he have a principal or secondary residence in the United States, including Puerto Rico, the US Virgin Islands, and other territories incorporated in the United States, If this is the case, the KYC process provides proof of the Status Accredited Investor.
9.9. Participant assures that he also does not act as owner or authorized signatory, or as representative for a company, or a company which has its permanent place of business, in the states described under 9.7. and 9.8. of the terms and conditions.
9.10. Participant warrants that he is not a citizen of a territory forbidden by law, decree, ordinance, contract or act of administration from purchasing this utility package or any related services or use of the Services or acceptance and delivery of the tokens , Furthermore, the participant assures that he is not acting for another legal entity (eg managing director or authorized signatory) for the purchase of these tokens or the related services or the use of the services or the acceptance or delivery of these tokens by law, decree , regulation, contract or administrative act is prohibited.
9.11. Participant agrees that the tokens will not be resold to buyers in the United States unless such additional sale is registered with the Securities and Exchange Commission (SEC) or there is an applicable exception.
9.12. Participant confirms that the information provided to the company is true, correct and complete.
9.13. Participant warrants that, if he acquired the Utility Package on behalf of another entity, he / she has been duly authorized by that entity to act on its behalf and properly established in accordance with the applicable laws of its organization's legal system.
9.14. Participant confirms that he does not use the utility package for the purpose of money laundering or terrorist support.
9.15. Participant confirms that he is aware that the repurchase or the return of the utility package to the original currency is excluded.
10.1. It is the responsibility of the participant to determine for themselves whether and what taxes are payable on its purchase of utility packages, whether sales, utility or value added tax. In this respect, the participant agrees to report and transfer the correct tax to the tax authorities.
10.2. The purchase price for the utility package is a net amount that does not include any additional taxes. The Company is not responsible for reporting or withholding taxes resulting from the sale of the Utility Packages. Should tax withholding be required by law in a country, these taxes will accrue in addition to the purchase of the utility package and will be reported as statutory taxes in addition to the net sales price of the utility packages. The company assumes no liability for additional taxes.
11.) Knowledge and recognition of the legal information and risks according to Annex 1
The participant declares that he has read and understood the legal notices in accordance with Annex 1 and expressly acknowledges that he is aware of the risks associated with the purchase of the utility package, possession and use of the tokens, as described in Appendix 1 described and explained, takes into account. By purchasing the utility package, the participant explicitly recognizes and accepts these risks.
12.) Limitation of Liability
12.1. The company operates its service carefully and reliably. However, there may be disruptions or losses in the Company's performance as a result of unavoidable events or serviceable work not attributable to the Company. The Company endeavors to remedy any disruption or interruption as quickly as possible.
12.2. The company is only liable for damages in the case of intent or gross negligence. The liability for slight negligence is excluded, with the exception of personal injury.
12.3. The Company shall not be liable for any consequential or incidental damages, including, without limitation, any software or hardware of the Participant or any third party, any lost profits or property damage, or any third party claims against the Participant. In particular, the company can not be held liable for any damage caused by unavoidable business interruption, work required to do business or to avoid disruption to operations or due to events for which the company is not responsible, such as network disruption, computer failure or criminal activity by third parties.
12.4. The company assumes no liability for data losses of participants in which the company is not at fault, such as hacker attacks. The participant will be informed immediately about the occurrence of a data loss.
12.5. The Company assumes no liability for the tokens stored in the Wallet for the Participant, as well as the data of the Participants stored there and for transactions between the Wallets of the Participants.
12.6. The items mentioned in points 12.1.-12.5. These limitations of liability and disclaimers apply to consumers, unless they contradict mandatory statutory provisions.
13.) No recommendation or offer of securities
13.1. The Legal Notice White Paper and these Terms and Conditions, together with Appendix 1, are neither a sell recommendation nor a solicitation by the Company to purchase utility packages or tokens. There is also no obligation to enter into a purchase agreement for these Utility Packages.
13.2. In particular, the Legal Notices White Paper does not constitute a prospectus or offer document of any kind and is not to be understood as an offer of securities or an offer of any other form of investment product.
14.) No class or representative arbitration
All disputes arising from this contractual relationship, which result from the individual contractual relationship between the respective participant and the company, can only be asserted in court by the participant himself. This eliminates class actions or other representative procedures by which a single person as a representative of a group, association or other persons can bring about a judicial decision.
16.) Applicable law and jurisdiction
16.1. As far as legally permissible, these GTCs are subject exclusively to the law at the registered office of the company in Montenegro. This shall apply to all disputes arising from this contractual relationship, including those relating to its existence or non-existence.
16.2. The place of jurisdiction for all disputes arising from this contractual relationship - as far as legally permissible - is Podgorica.
17.) Change of the general terms and conditions
The company is entitled to amend these terms and conditions, including the risk warnings in Annex 1, to modify them or replace them with other provisions without the consent of the other contracting party.
18.) Conditions of purchase agreement / registration according to Money Laundering Act
18.2. The company is required by the Money Laundering Act and Art. 8 of the 3rd EU Money Laundering Directive for EU nationals to obtain information about the participant. The participant must completely and truthfully submit the data collected by the company in accordance with the requirements of the Money Laundering Act upon conclusion of the contract as part of the "Know Your Customer" (KYC) procedure. For the purpose of identification, the company must, in particular, collect the full name, date of birth, place of birth, full address and nationality of natural persons, and may present a valid official photo ID to prove such information. For legal persons, the company name, legal form, registration number and address of the registered office and the name of the legal representative must be specified. The verification of this information may be carried out by means of extracts from trade or cooperative registers or similar official registers or registers. The participant declares his consent to the collection of this data. Should further information obligations arise from the Money Laundering Act, the participant is obliged to do so. These aforementioned information obligations also apply to the beneficial owner in the context of identification under the Money Laundering Act.
18.3. If it should turn out that the participant in accordance with section 4.2. These terms and conditions do not meet its duty to cooperate for proper identification or turn out in the registration process that the participant does not meet the personal requirements of 4.1 of these Terms or belongs to the persons mentioned in paragraph 9.7-9.10 of these terms and conditions, no conclusion of contract. In this case, the company reimburses the purchase price to the participant, if he has already purchased corresponding utility packages. All transaction fees associated with this refund must be borne by the participant.
19.) Salvatorial clause
Should individual provisions of these GTC be inadmissible, ineffective or unenforceable, this shall not affect the validity of the remaining clauses of these GTCs. In the event that a rule is missing, this gap will be replaced by a valid rule that comes closest to the will of both parties.
20.) Cancellation policy Withdrawal:
You have the right to withdraw from this contract within 14 days without giving reasons. The cancellation period is 14 days from the day of the conclusion of the contract. In order to exercise your right of withdrawal, you must inform us of your decision to withdraw from this contract by means of a clear statement (e.g. a letter or e-mail sent by post). You can use the attached model withdrawal form, which is not mandatory. In order to maintain the cancellation period, it is sufficient for you to send the notification of the exercise of the right of withdrawal before the expiry of the withdrawal period.
Consequences of the cancellation:
If you withdraw from this Agreement, we will provide you with all payments we have received from you, including delivery charges (except for the additional costs arising from your having a different type of delivery of the Utility Package than that offered by us the most favorable standard delivery) immediately and at the latest within fourteen days from the day on which the notification of your cancellation of this contract has been received by us. For this repayment, we use the same means of payment that you used in the original transaction, unless otherwise agreed with you; In no case will you be charged for this repayment fees.
Annex 1 Legal Notice
PLEASE READ THIS CAREFULLY - BEFORE TAKING ACCOUNT FOR THE PROCUREMENT OF PROTECTHOR TOKENS - THIS WHITE PAPER, PARTICULARLY THE FOLLOWING IMPORTANT INFORMATION, INCLUDING OTHER RISK INSTRUCTIONS. IF YOU HAVE ANY QUESTIONS RELATING TO THE PROTECTHOR DOO (THE "COMPANY"), YOUR BUSINESS PROJECTS, THE PROTECTHOR TOKENS, OR OTHER CIRCUMSTANCES IN THIS CONNECTION, YOU MAY LEAVE A COMPETENT OF ECONOMIC, LEGAL, TAX, OR OTHERWISE CONSULT ADVICE. IN THE EVENT OF DOUBT OR CONDITIONAL CIRCUMSTANCES WHICH YOU DO NOT UNDERSTAND, YOU SHOULD DISCONTINUE IT.
No prospectus or offer to purchase a security or financial instrument
The planned ProtectTHOR tokens are designed as pure utility tokens and should therefore not be structured as securities or financial instruments. This white paper is therefore not a prospectus or offer document for securities or financial instruments nor is it intended to constitute a prospectus or offer document for securities or financial instruments in any jurisdiction. The whitepaper is for project description only, but does not constitute an offer to purchase or solicitation of an offer to acquire the proposed ProtectTHOR tokens. To this extent, this white paper does not constitute an investment recommendation to purchase the proposed ProtectTHOR tokens or to disinvest other securities , Financial instruments or other assets.
No regulatory audit or clearance
This white paper has not been reviewed or approved by any government agency. Nor has it been submitted to any authority for review or approval. There is no explicit legal requirement for the content of this white paper, the structure of the White Paper and the information contained herein is based solely on the decisions of the Company's management.
Justification of a legal relationship solely on the basis of separate contracts, documents or conditions
Any legal relationship between an acquirer of the proposed ProtectTHOR tokens and the Company will not be established by this White Paper, but by separate contracts, documents or conditions governing the rights and obligations of the acquirer and the Company. In that regard, in the event of any ambiguity in the presentation in this White Paper, the terms of the said contracts, documents or terms of presentation set forth in this White Paper.
The token sale (including any pre-sales) is not directed to acquirers who are domiciled, resident or ordinarily resident in a country or who initiate the acquisition of the tokens from or through a country where the sale or the sale of the token is made Purchase of cryptocurrencies prohibited or permitted only under certain conditions (such as regulatory approval) that have been classified by the Financial Action Task Force (FATF) as High Risk Countries or Countries under supervision, or which were specifically imposed by the United States of America or the EU embargo or sanctions ("excluded third parties"). These countries include, in particular, the Democratic People's Republic of Korea, Ethiopia, Iran, Iraq, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Vanuatu and Yemen, but also the People's Republic of China, Singapore and Cuba ("excluded countries").
Similarly, there are restrictions for United States citizens. These may only participate in a token sale if they provide proof of being a so-called Accredited Private Investor, as defined in Rule 501 of Regulation D issued under the Securities Act of 1933. To prove this, it is sufficient to fill out the form provided in the KYC process, namely ACCREDITED INVESTOR CERTIFICATION, and sign it, and then have the information provided confirmed by your own tax adviser.
Further information on Accredited Private Investor can be found on the following link: https:// www.sec.gov/files/ibaccreditedinvestors.pdf.
If it turns out during the KYC process that an interested participant can not successfully complete the KYC process due to previously misrepresented information or due to his citizenship or other disagreements, he will be denied participation in the token sale. In the case of refusal, the payment of the investment will be reversed and the unsuccessful participant will bear the full costs of the cancellation.
The White Paper may not be reproduced, in whole or in part, in any manner whatsoever, and may not be disclosed to third parties without the necessary notices and without the Additional Risk Warnings. No part of this white paper may be shared with excluded third parties, in any way whatsoever.
High risk of loss
The purchase of ProtectTHOR tokens involves considerable risks. Therefore, an acquirer should not be able to use a substantial portion of its assets to acquire ProtectTHOR tokens and be able to economically handle a total loss of the money spent. Acquirers should also have experience in cryptocurrencies of young companies, understand the economic and technical implications of the Company's business and ProtectTHOR tokens, and assess their impact on the value of the proposed ProtectTHOR tokens. However, if an acquirer does not have relevant experience, this does not justify an increased obligation of the Company to provide information.
Loan finance not recommended
It is strongly discouraged to finance the purchase of ProtectTHOR tokens through a loan. Because the obligation to pay interest and repayments remain, even if purchased ProtectTHOR tokens should be worthless. Even a private insolvency of the purchaser would not be excluded in such a case.
Whitepaper does not replace competent advice
Buyers are cautioned that this white paper merely provides an overview of the Company's proposed investment and operations and planned ProtectTHOR tokens. The white paper can not replace any economic, legal, tax or other advice. Each acquirer should therefore examine the associated opportunities and risks on their own responsibility and, if necessary, with the help of external consultants. In particular, it is recommended to seek advice on the legal, regulatory and tax consequences of an acquisition. The Company assumes no liability for the personal economic goals sought by purchasers with the purchase of ProtectTHOR tokens.
Calculations, forecasts and forward-looking statements
All calculations and forecasts presented in this white paper are based essentially on the experience or estimates of the company's management. To that extent, this white paper also contains forward-looking statements - in particular subjective objectives for the future business development of the company, which, however, are associated with uncertainties and risks. These statements reflect the Company's current beliefs and expectations about future events. These estimates and expectations may involve errors of judgment and may therefore prove to be inaccurate. The calculations were made with care and with commercial caution. Nevertheless, it can not be ruled out that events or developments that were not included in the calculations or forecasts lead to significant deviations from the actual results of the company and thus possibly also to a deterioration in the value of the planned ProtectTHOR tokens, from the calculations or forecasts.
There can be no assurance that the developments and results described in this White Paper will actually be achieved. The acquirer carries the risk of divergent developments and results.
Further risk warnings Regulatory and other risks
The Company believes that the Company's issuance, purchase of the proposed ProtectTHOR token, and payment of Company benefits under the proposed ProtectTHOR (pure utility token) token, each by non-excluded third parties, will not be subject to separate regulation. However, the regulatory and legal frameworks for cryptocurrencies, blockchain and distributed ledger technologies, smart contracts and their applications are far from mature and secure nationally and internationally. Therefore, it can not be ruled out that the issuance, acquisition, administration (including trade) or payment of cryptocurrency products or services may be prohibited in whole or in part, or only subject to conditions, due to national or international regulatory or legal measures or jurisprudence will be possible. This may materially adversely affect the Company's business model (e.g., in the event of regulatory or statutory reversal of issued ProtectTHOR tokens, or cessation of business operations), as well as the benefit or value of the proposed ProtectTHOR token, or even the Company's bankruptcy or worthlessness of the planned ProtectTHOR token.
Likewise, it can not be ruled out that companies that, as third parties, are prohibited from trading cryptocurrencies such as the planned ProtectTHOR token, may be prohibited from maintaining their trading venue without proper regulatory approval, so that they may not have trading venues which can be used to exchange the planned ProtectTHOR token into other crypto currencies or FIAT currencies (i.e. legal national currency such as the euro). This could also result in issued ProtectTHOR tokens becoming worthless to their purchasers.
Exclusion of repayment
As a pure utility token a repayment of the purchase price for issued ProtectTHOR tokens against the return of issued ProtectTHOR tokens is excluded. Purchasers of the proposed ProtectTHOR tokens must therefore take into account that the money they use to purchase ProtectTHOR tokens is bound in them and, if necessary, can be changed back into FIAT currencies via third- party trading systems, if available. Unless there is a third party willing to switch purchased ProtectTHOR tokens against FIAT currencies, there is a risk for an acquirer that the acquired ProtectTHOR tokens will be useless or worthless to them.
Tradability and value fluctuations of ProtectTHOR tokens
Tradability of the planned ProtectTHOR tokens can not be promised. Although the Company seeks to list the proposed ProtectTHOR tokens on one or more trading systems, it is not excluded that the Company will fail to find one or more appropriate trading systems that are willing or able to complete the planned ProtectTHOR tokens for trading. Even if it is possible to list the planned ProtectTHOR token for trading at one or more trading venues, it is not excluded that trading will not take place due to lack of buyer or seller interest.
Even if and to the extent that it is possible to list the planned ProtectTHOR tokens on one or more trading systems for trading, it must be expected that the observed price and thus the value of acquired ProtectTHOR tokens, will be subject to considerable and short and long-term fluctuations. It can not be ruled out that prices or values of the planned ProtectTHOR tokens will develop very differently on different trading systems. The performance of the planned ProtectTHOR tokens on trading systems may be affected by the performance of other cryptocurrencies, such as the Bitcoin or Ethereum, even if the operating business of the Company does not provide any ground or starting point for any changes in value.
The Company does not guarantee that trading systems on which the planned ProtectTHOR tokens are listed for trading will conduct a transparent price or price determination, or will be able to meet any legal or regulatory requirements.
An acquirer must further consider that any purchase of purchased ProtectTHOR tokens is likely to incur costs that the acquirer must pay in addition to further burden the recoverability of purchased or traded ProtectTHOR tokens.
Dependence on computer infrastructure
Both the operational business model of the company and the functionality of the planned ProtectTHOR tokens are highly dependent on the presence and permanence of a functioning computer infrastructure. This applies in particular to the company and its ecosystem partners for the operation of the infrastructure, to purchasers of the planned ProtectTHOR tokens as well as to the customers of the company. Any disruption or strain on a functioning computer infrastructure (including the Internet with appropriate capacity) would burden the development and expansion as well as the operative business, but also the possibility of using the planned ProtectTHOR tokens, down to their worthlessness. Inadequate functionality of the required infrastructure could also significantly slow down the processing speed of transactions with the planned ProtectTHOR token, thus having a lasting negative impact on the usability or the recoverability of the planned ProtectTHOR tokens.
Operational risks of the company
Like every company, and especially every young company, this company is exposed to operational risks. For example, the development of planned projects and services may be significantly delayed or may prove to be wholly or partially impossible. It can also not be ruled out that the company will not be able to assert itself on the market with the planned projects or services. Furthermore, it can not be ruled out that the company will not succeed in acquiring and maintaining sufficient licenses that are necessary for its business operations. Third party licenses granted, may likewise be called into question, which frequently leads to high costs for the defense of claims . Law enforcement may result. There may also be significant burdens on the operational business of competitors, the development of new projects and techniques or the regulation of the operational business of the company both nationally and internationally. Operating risks, in particular those mentioned above, may lead to the insolvency of the company. At the same time, operational risks can sustainably negatively impact the planned ProtectTHOR tokens to the point of worthlessness or worthlessness.
Lack of funding of the company
The Company as a young company relies on generating sufficient financing to build and grow its business (including maintaining an infrastructure to use the planned ProtectTHOR tokens). For this purpose, the revenue from the issue of the planned ProtectTHOR tokens is initially provided. Should the Company fail to generate sufficient funding, e.g. In the case of the failure of the ProtectTHOR token ITO or direct sales, there is a risk that the Company may not be able to build and expand its business as planned and may need to discontinue all or part of its business or even file for bankruptcy. Such a development could have a lasting negative impact on the usability or recoverability of the planned ProtectTHOR tokens, down to uselessness or worthlessness.
The planned ProtectTHOR tokens are naturally technology-based. Their usability and their intrinsic value, like all technology-based products or services, are exposed to numerous technical risks that society can not exclude. These include, in particular, system errors, code failures, programming errors, hardware failures, data loss or data theft, hacks or hacker attacks, or even technically-based loads on the processing speed. Technical risks can lead to lasting negative effects of the usability or recoverability of the ProtectTHOR tokens, to their uselessness or worthlessness.
Risks of personal token management
Like any cryptocurrency, the planned ProtectTHOR tokens are also exposed to personal administration risks. Risks associated with personal management include, but are not limited to, the loss or theft of the ProtectTHOR tokens purchased, the hardware used, the loss of access identifiers, usernames, passwords or private keys to access the infrastructure used to protect the acquired ProtectTHOR tokens (e.g. Wallets), so that it can no longer have purchased ProtectTHOR tokens and they are thus lost to the purchaser. There is also a risk that due to the nature of the Blockchain technology, transactions that have been initiated incorrectly can no longer be undone and transferred ProtectTHOR tokens could irretrievably be lost. It should also be borne in mind that the use of inherited ProtectTHOR tokens is virtually impossible due to the technology used for the planned ProtectTHOR tokens and the lack of, or little developed legal frameworks.
Just as the legal framework governing cryptocurrencies is ambiguous and unclear, neither the national, nor the international tax treatment of cryptocurrency transactions, for both the company and the acquire of cryptocurrencies has been fully clarified. Therefore, it can not be ruled out that transactions with cryptocurrencies lead to tax burdens on both the Company and the purchasers, which encumber the Company's operating business or the usability or recoverability of acquired ProtectTHOR tokens, down to worthlessness.
Disclosure of personal data due to regulatory action
Purchasers are required to be identified with the anti-money laundering, terrorist financing and evasion (KYC) anti-money laundering, terrorist financing and anti-fraud provisions prior to the acquisition of the proposed ProtectTHOR tokens and to disclose personally identifiable information about themselves to the Company. Purchasers of the proposed ProtectTHOR tokens must expect that the Company will be required by reason of national or international regulatory or legal action to disclose the personal data collected to competent authorities in the event of legitimate interest.
Interaction of risks and cumulation of risks
Each of the risks presented may in itself have lasting negative effects on the usability and recoverability of the planned ProtectTHOR tokens. It can not be ruled out that several risks can be realized at the same time, trigger each other or increase one another, thereby further increasing the lasting negative effects. Both the realization of individual risks and the realization of accumulated risks can lead to the complete uselessness or worthlessness of the planned ProtectTHOR tokens.