Maximum 5,944,444* shares of Class B Common Stock ($1,069,999.92)
*Maximum subject to adjustment for bonus shares. See 10% Bonus below
Minimum 55,555 shares of Class B Common Stock ($9,999.90)
|Company||GuruMD Virtual Med, Inc.|
|Corporate Address||1515 S. Capital of Texas Hwy Suite, 105|
Austin, TX 78746
|Description of Business||Telemedicine Platform|
|Type of Security Offered||Class B Common Stock, deliverable in the form of tokens (“GMD Tokens”)*|
(the "Shares", or the "Securities")
|Purchase Price of Security Offered||$0.18 per share|
|Minimum Investment Amount (per investor) ||$250.02|
|Company Repurchase Right|
In the event of an institutional or venture financing for $1,000,000.00 or more, the Company may repurchase the shares sold in this offering at the greater of either (i) the valuation of the Company in the institutional financing, or (ii) 110% of the original purchase price.
*All tokens will be delivered after the campaign is completed, and upon availability of the Tokens.
Terms of Tokens
Class B Non-Voting Common Stock ("GMD" Tokens)
Description: Each "GMD" Token represents a single share of Class B Non-Voting Common Stock of the company, with rights and preferences as designated in the Certificate of Incorporation and summarized in the Offering Document.
- Blockchain: Ethereum
- Exchanges: We currently intend listing the token on SEC licensed exchanges, but this may change, pending approval to list on such exchanges, changes to the regulatory landscape, or any other reason. Security Tokens may be eligible for trading on SEC approved alternate trading platforms as they become available. There is no guarantee that such a trading platform will be available at that time.
- Voting Rights: None.
- Restrictions on Transfer: 1 year from the closing of this Offering
- Dividends/Distributions: The Class B Non-Voting Common Stock participate together with the holders of Class A Voting Common Stock on all dividends and distributions declared by the Board of Directors.
- Redemption Rights: None.
Please see Offering Document for complete set of rights and preferences.
The Company currently does not have a functional 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. If development is not completed, investors will still receive shares in book-entry form. 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.
The 10% Bonus for StartEngine Shareholders
GuruMD Virtual Med, Inc. will offer 10% additional bonus "GMD" Tokens 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 the campaign launch date. This means you will receive a bonus for any shares you purchase. For example, if you buy 1,000 shares of Class B Non-Voting Common Stock at $0.18 / share, you will receive 100 Class B Non-Voting Common Stock bonus shares, meaning you'll own 1,100 shares for $180. 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 and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.
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.