Maximum 107,000* shares of Common Stock ($107,000)
*Maximum subject to adjustment for bonus shares. See 10% Bonus below
Minimum 10,000 shares of Common Stock ($10,000)
|Corporate Address||3010 Scenic Valley Way Henderson, NV 89052|
|Description of Business||Armed with the power of smart contract technology, our goal at Crowd Coverage is to guarantee faster, more trustworthy insurance at lower costs and in larger volume than could ever be achieved by traditional insurance.|
|Type of Security Offered||Common Stock and COVR Tokens|
|Purchase Price of Security Offered||$1.00|
|Minimum Investment Amount (per investor) ||$100|
For every $1 invested, the Offering includes 80 COVR Tokens. ($0.0125 / per Token)
For easy reference:
Bonus Awarded (in COVR Tokens)
*All perks and tokens will be delivered after the campaign is completed, and upon availability of the Tokens.
Terms of Tokens
Description: COVR tokens operate in much the same manner as tokens in an arcade, or as service validators. That is to say, tokens must be used to “run” the Crowd Coverage Network program; as such, tokens must be used to propose a policy; this nominal fee serves multiple purposes. First, it operates as a first- defense vetting device—it prevents an excess of fake or half-hearted proposals. Second, it compensates for the gas used in the sending and receiving of tokens. Finally, a minimal amount is used to incentivize the upkeep of the platform itself. COVR tokens are also used to incentivize the efforts of tribunal members. This ensures that claims are handled both fairly and efficiently.
- Initial Blockchain: Ethereum
- Migration to Alternative Blockchain: n/a
- Expected Network Launch date: Alpha V1 Launch September 2018
- Total amount of Tokens authorized for creation: 400,000,000
- Amount of Tokens or Rights to Tokens already issued: 17% (68,000,000)
- Will they be listed on Exchanges: The token may be listed on exchanges should it be deemed beneficial and prudent. Currently, there are no plans to do so.
Other Material Terms:
- Voting Rights: Voting Rights limited to matters regarding Product Direction
- Restrictions on Transfer: None, assuming baseline regulations have been followed and one year holding period achieved.
- Dividends/Distributions: Not at this time
- Redemption Rights: Only limited to one-year restriction
- 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 common stock tokens and the JonCoin 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
Crowd Coverage 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 Common Stock at $1 / share, you will receive 10 Common Stock bonus shares, meaning you'll own 110 shares for $100. 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 will not incur any irregular use of proceeds.
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.