Maximum 267,500* shares of Class B Non-Voting Common Stock and right to acquire 20,062,500* BIT Tokens, when and if issued ($1,070,000)
*Maximum subject to adjustment for bonus shares. See 10% Bonus below
Minimum 2,500 shares of Class B Non-Voting Common Stock and Right to acquire 187,500 BIT Tokens, when and if issued ($10,000)
|Corporate Address||8070 La Jolla Shores Drive, La Jolla, 434, CA, 92037|
|Description of Business||Cen Inc is developing technology to crowdsource human knowledge into a blockchain-based database mediated by the BIT Token which allows the creation of fair AI systems that blend human and artificial intelligence together in real time.|
|Type of Security Offered||Class B Non-Voting Common Stock and the right to receive BIT Tokens, if and when issued|
|Purchase Price of Security Offered||$4.00 per share of Class B Non-Voting Common Stock and the right to receive 75 BIT Tokens, if and when such BIT Tokens are issued|
|Minimum Investment Amount (per investor) ||$400|
An investor shall receive the right to receive 75 BIT Tokens (if and when developed and issued) for each share of Class B Common Stock purchased in the Offering. In addition, the following bonuses will apply:
- Invest $1000-$4,996: You will be recognized by the Cen by name and you will receive a bonus of 1 token per share.
- Invest $5,000 - $24,996: You will be recognized by the Cen as a Cen Contributor and you will receive a bonus of 2 BIT Tokens per share.
- $25,000 - $99,996: You will be recognized by the Cen as a Cen Ambassador and you will receive a bonus of 5 BIT Tokens per share.
- $100,000+: You will be recognized by the Cen as a Cen Fellow and we will build a Cen prototype to introduce to you or your company and you will receive a bonus of 10 BIT Tokens per share.
*All perks and tokens will be delivered after the campaign is completed, and upon availability of the Tokens. See Offering Summary below for additional terms.
Terms of Token
BIT Tokens (or "BIT")
Description: The BIT token represents the use of human knowledge and skill in a human/artificial intelligence market. Minders (human expert authors) generate knowledge which is recorded using ERC-721 (cryptokitty-styled) smart contracts on the Ethereum blockchain. When their knowledge is used Minders are rewarded with BIT tokens. Advertisers - really service providers in the Intelligence Economy - hold and spend tokens in order to gain access to the users of the BIT knowledgebase. Initial prototypes have been built on Ethereum. Most knowledge is encoded on sidechains as Ethereum itself is not fast enough to service real-time communications and AI. We may migrate to a newer blockchain if the roadmap for Ethereum does not address these issues in a timely manner.
- Initial Blockchain: Ethereum
- Migration to Alternative Blockchain: Likely for scaling
- Expected Network Launch date: 2019
- Total number of Tokens authorized for creation: 3,000,000,000 max tokens until 1 billion users are recruited or the network has been operating for >10 years. At 1 billion users an additional 10% tokens will be generated to provide additional user recruitment bonuses. At 10 years a maximum of 3% additional tokens will be minted per annum to reward "minders".
- Number of Tokens or Rights to Tokens already issued: 528,000,000
- Anticipated Distribution of Tokens
- Investors 33%: 990,000,000
- Founders 17%: 500,000,000
- Company 10% 310,000,000
- Supporters 2%: 60,000,000
- Foundation 5%: 150,000,000
- Minders 33%: 990,000,000
- Will they be listed on Exchanges: If the BIT Tokens are developed and issued and there exists SEC licensed exchanges for our BIT Tokens, we currently intend to apply for listing on one or more such SEC licensed exchanges.
Other Material Terms:
- Voting Rights: None
- Restrictions on Transfer: 1 year from closing of Offering
- Dividends/Distributions: None
- Redemption Rights: None
- Other: None
The Company currently does not have a functional distributed ledger based business model nor a blockchain based token and there is no guarantee that such will be developed in the future. The promise of future tokens is contingent upon the successful development of such items. There is no guarantee that successful development will ever occur. The right to receive future tokens and the offering of future tokens is being offered as part of this offering exempt from registration under Regulation CF.
Tax Advisory: Investors should consult their tax advisors with respect to the tax basis for each of the Class B Non-Voting Common Stock and the Tokens, since they will trade independently.
Jurisdictions: No Investor who (i) resides, (ii) is located, (iii) has a place of business, or (iv) is conducting business (any of which makes the Investor a “Resident”) in the state of New York will be accepted in this offering.
The 10% Bonus for StartEngine Shareholders
Cen Inc. will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders (with ≥ $1,000 invested in the StartEngine Reg A+ campaign) within 24 hours of this offering going live.
StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% bonus on this offering within a 24-hour window of their campaign launch date. This means you will receive a bonus for any shares you purchase. For example, if you buy 100 shares of Class B Non-Voting Common Stock at $4 / share, you will receive 10 Class B Non-Voting Common Stock bonus shares, meaning you'll own 110 shares for $400. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments made to advisors, salary to directors; Administration Expenses, Travel and Entertainment; repayment of directors loans.
Most recent fiscal year-end:
Prior fiscal year-end:
Cash And Cash Equivalents
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.