Kodak was supposed to launch their initial coin offering (ICO) today. It did not happen. After many have raised valid concerns about Kodak's new blockchain initiative and cryptocurrency, a new press release was issued today indicating that they need more time in order to verify all the 40,000 potential investors that want to be part of the ICO:
Thank you for your interest in the KODAKCoin ICO. With over 40,000 potential investors expressing an interest in the ICO on www.KODAKCoin.com, we are now moving into the “accredited investor” verification phase. Given the large interest in the KODAKCoin ICO and the steps that we need to take to verify the “accredited investor” status of each interested investor, we expect this process to take several weeks.
We will be contacting all potential investors that have previously registered for the ICO shortly for additional information to confirm their “accredited investor” status. The KODAKCoin ICO is being offered pursuant to an exemption from registration under the US Securities Act of 1933 provided by Rule 506(c) of Regulation D thereunder. As a result, participation in the KODAKCoin ICO is open only to those investors deemed to be “accredited investors” under Regulation D (e.g., any natural person (i) whose individual net worth, or joint net worth with his or her spouse, exceeds $1 million, or (ii) who had an individual income in excess of $200,000, or joint income with his or her spouse in excess of $300,000, in each of the two most recent years, and has a reasonable expectation of reaching the same income level in the current year). In addition, the KODAKCoin ICO will be offered outside the US to select non-US persons in accordance with the applicable laws of each jurisdiction where such offers and sales occur.
IT IS IMPORTANT TO HIGHLIGHT THAT AN EXPRESSION OF INTEREST MADE BY A PROSPECTIVE INVESTOR TO DATE IN THE KODAKCOIN ICO IS NON-BINDING AND INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND.
IMPORTANT NOTE REGARDING FRAUDULENT WEBSITES:
It has come to our attention that there are several spam KODAKCoin ICO websites and Facebook sites promoting and even purporting to sell KODAKCoin tokens. Please be advised that there is only one official KODAKOne and KODAKCoin Facebook page and our official ICO website is www.KODAKCoin.com. In addition, please be advised that any offers or sales of KODAKCoin tokens will be made pursuant only to an Offering Memorandum that will be distributed to accredited investors. Potential investors are strongly encouraged to read the Offering Memorandum in its entirety before making any investment decision with regard to the KODAKCoin tokens.
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