The proposed crypto-trade exchange INX Limited wants to Token the permission of the U.S. securities and exchange Commission for the sale of their s platform and Hybrid Tokens INX. INX Limited has celebrity support – from Samson Mow until “fluffy pony”. An Audit of the business books, however, reveals “considerable doubt” as to the economic viability of the crypto-Exchange spe.
By Christopher clover
20. August 2019BTC$of 10,617,01 -1.05%part Facebook Twitter LinkedIn xing mail
The Gibraltar-based crypto Start-up INX Limited is applying for an IPO (Initial Public Offering, IPO) in the United States. According to a preliminary prospectus, the INX Limited on 19. August with the U.S. securities and exchange Commission has filed. In spite of an Emission from the Token will be spoken to in the prospectus of IPO, and not by Security Token Offering (STO).
INX Token promises profit-sharing and Trading discounts
At the IPO wants to sell INX no classic securities, but digital securitised profit-participation rights in the Form of a Token (INX, Token). The INX Token to guarantee its holders a Pro-rata entitlement on profit sharing from operating activities:
Each of the INX Token (including fractional parts of INX, Token) is entitled to an annual Pro-rata payout of 40% of the net cash flows of the company from operating activities, excluding cash from a sale of the INX Token by the company.
there are no voting rights associated with the acquisition of the ERC-20 tokens, however. In addition to the enjoyment of the right for the Holder of the Token is to meet on the planned platform for a function:
After the INX Securities-trading platform was put into operation, can the owner of INX-Token with the INX Token transaction and pay the fees on the INX Securities-trading platform. In the case of the payment of transaction fees INX tokens have at least a 10 percent discount on other payment types.
There are a total of 200 million INX Token. The Start-up plans to sell a total of 130 million via IPO. INX would like to collect with the IPO of up to 130 million – at least $ 5 million from institutional and private investors. The minimum investment should be US $ 1000. How much would it cost a Token to the beginning of the IPO, has not INX Limited set, however. Over 18 million INX tokens were previously sold in the (private) Pre-Sale.
Audit revealed “significant doubt” on the continued existence of the INX
In the prospectus, is expressly advised of the risk of an investment in the INX Token. So there is on the one hand, a variety of extrinsic factors, such as the General volatility of crypto-Assets, and markets; also concerns regarding the (global) regulation of crypto-Assets are set out:
The prices of Blockchain Assets are extremely volatile, and fluctuations in the exchange rate of Blockchain Assets could affect our profits significantly.The tax authorities are not able to be with our tax positions in relation to the company, your business, and the INX Token agree and ask us to revise these positions in a way that could be detrimental to you.We could have significant delays in the receipt of a Broker-dealer license, since we are able to identify a Custodial Relationship agreement, the FINRA or the SEC will approve as meeting the requirements of rule 15c3-3,
it is stated for example in the section “risk factors” of the draft Prospectus.
Also with regard to the profitability of the company, have expressed their auditors, yet doubts:
The auditors have in their report of 19. August 2019, stated that our financial statements as of 31. December 2018 under the assumption of the continuation of the business activities has been established and substantial doubt as to our ability to secure the continued existence of the company, expressed.
prominent supporter: Samson Mow, Charlie Lee, fluffy pony
nevertheless supports a number of well-known faces from the crypto-industry INX Limited. So, for example, block-stream-CTO Samson Mow has invested US $ 100,000 in INX Limited. The notorious Bitcoin-COP Charlie Lee holds shares in INX Limited in a comparable order of magnitude. The main investor is, what is likely to surprise the one or the other, Riccardo Spagni. On Twitter, under the Pseudonym “fluffy pony” that have migrated to the Influencer is an avowed supporter of the Privacy Coin, Monero (XMR) and holds shares in the amount of 924.000 US dollars at INX Limited.
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