TrustaBit offering is now closed and is no longer accepting investments.
INVEST IN TRUSTABIT TODAY!
Mobilizing the Traveling Consumer
$16,581 Raised
REASONS TO INVEST
TEAM
Saritta Hines
Founder/CEO and Managing Member
Blair White
Co-Founder and CSO
Kelvin Ndereba
Lead Developer
Sheletha Drew
Senior Corporate Tax Analyst
Bismaya Nayak
Program Delivery Head
Hakar Sulaiman
Creative Design Engineer
Casey Gardiner
Advisor and Co-Founder at DigiWallet
Nelson Petracek
Advisor and CTO of TIBCO Software
Susan Oh
Advisor and Chair of AI, Blockchain For Impact (BFI) United Nations General Assembly
Mahroze Baloch
Legal Advisor
Drs. Hans Koning TIIM
Business Strategy Advisor
TERMS
TrustaBit
Overview
PRICE PER SHARE
$1
DEADLINE
Oct 24, 2018
VALUATION
$6.9M
AMOUNT RAISED
$16,581
Breakdown
MIN INVESTMENT
$250
MAX INVESTMENT
$15,000
MIN NUMBER OF SHARES OFFERED
10,000
OFFERING TYPE
Equity
ASSET TYPE
SHARES OFFERED
MAX NUMBER OF SHARES OFFERED
107,000
Maximum Number of Shares Offered subject to adjustment for bonus shares
Maximum 107,000* shares of Membership Units ($107,000)
*Maximum subject to adjustment for bonus units. See 10% Bonus below
Minimum 10,000 shares of Membership Units ($10,000)
| Company | TrustaBit LLC |
| | |
| Corporate Address | 26896 Aliso Creek Rd Suite B-1007 Aliso Viejo, CA 92656 |
| | |
| Description of Business | TrustaBit plans to use blockchain technology to issue compensation to passengers quickly, easily and securely when their flights are delayed. |
| | |
| Type of Security Offered | Membership Unit and TAB tokens |
| | |
| Purchase Price of Security Offered | $1.00 |
| | |
| Minimum Investment Amount (per investor) | $250 |
Perks*
For every $1 invested, the Offering includes 10 TAB Tokens. In addition, the following bonuses will apply.
TAB Token Discount Rate:
$400+ — If you invest $400-$999, you will receive a 5% Token Bonus.
$1,000+ — If you invest $1,000-$4,999, you will receive a 10% Token Bonus.
$5,000+ — If you invest $5,000-$9,999, you will receive a 20% Token Bonus.
$10,000+ — If you invest $10,000 or more you will receive a 35% Token Bonus.
*All perks and tokens will be delivered after the campaign is completed, and upon availability of the Tokens.
Terms of Tokens
TAB Tokens
Description: Whenever there is a flight delay, the travelers on that flight will be automatically receiving TAB tokens. For every 45 minute delay the traveler will be issued a set amount of TAB's. Looking forward, the next time you experience a delayed flight, you can be assured that your TAB tokens are getting credited to your account. You can cash in your tokens at the airline for free flights and upgrades at a discount. Or you trade your tokens with other customers if you want cash directly. This way people who lack a few tokens for their next free flight can easily buy additional tokens from other customers. The TAB tokens will be issued on the ERC20 blockchain.
The right to tokens is contingent upon the successful development of such Tokens and to the extent applicable, the blockchain upon which they function. There is no guarantee that successful development will ever occur.
The TAB protocol is currently in pre-production phase and we are currently building out the back end infrastructure. Once this phase is complete we expect to perform beta testing with our community. Then ultimately rolling out the production version of the TAB protocol.
- Initial Blockchain: Ethereum
- Migration to Alternative Blockchain: Hyperledger Fabric
- Expected Network Launch date: 2018
- Total amount of Tokens authorized for creation: 1,000,000,000
- Amount of Tokens or Rights to Tokens already issued: 0
- Will they be listed on Exchanges: Tokens intended to be tradable on registered ATS exchanges upon launch of the services.
- if so, which: TBD
Other Material Terms:
- Voting Rights: None
- Restrictions on Transfer: 1 year from closing of Offering
- Dividends/Distributions: Upon discretion of the board
- Redemption Rights: None
- Other: N/A
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 Membership Units 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
Trustabit LLC 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 units you purchase. For example, if you buy 100 Membership Units at $1 / unit, you will receive 10 bonus units, meaning you'll own 110 shares for $100. Fractional units will not be distributed and unit bonuses will be determined by rounding down to the nearest whole unit.
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.
PRESS
Blockchain-based rewards token: Trustabit plans to make delayed flights a hell of a lot less stressful
The past few years have been embarrassingly rough for airlines as one PR disaster followed another. Their post-incident compensation schemes are not doing their client and public relations any favours either. Technology start-up Trustabit believes that blockchain technology is the solution to this
Introducing Two Very Different Ways to Use Smart Contracts
Blockchain is the technology buzzword du jour. It powers the world’s cryptocurrencies by providing a novel and secure way to transfer and store transactional data – across a distributed network of nodes, instead of using a traditional central database.
ALL UPDATES
10.20.18
Tech Startup, TrustaBit, Announces Partnership with Software Giant, TIBCO Software Inc.
TrustaBit, a blockchain-based startup announced its co-development partnership with TIBCO Software Inc., a global leader in analytics and integration.
TrustaBit hopes to change the way the world travels by removing the onus from the passengers to reconcile flight disruptions (delays or cancellations), allowing the traveler to keep moving. The solution helps airlines harness the power of blockchain technology and smart contracts to notify passengers sooner and automatically issue compensation when disruption occurs.
“We’re pleased to welcome TrustaBit into the TIBCO LABS program,” said Nelson Petracek, Global Chief Technology Officer, TIBCO. “Working with innovative organizations such as TrustaBit helps us build more relevant, valuable solutions for our customers. We look forward to partnering with TrustaBit on the development of their blockchain smart contracts with Project Dovetail.”
TrustaBit is a flight disruption management solution that uses blockchain technology to automate notification and compensation processes within the airline industry. The solution offers multiple redemption options – vouchers, miles, or fiat (local currency).
This fall, the startup released its Proof of Concept, a prototype created to demonstrate the feasibility of a working product, which can be found at app.trustabit.io. TrustaBit’s final product will be a white-labeled solution, fully integrated and showcasing the host airline’s branding.
09.14.18
Notice of Funds Disbursement
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, TrustaBit has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in TrustaBit be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
09.05.18
Notice of Funds Disbursement
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, TrustaBit has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in TrustaBit be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
08.29.18
🛩 TrustaBit Demo is now LIVE ‼️
It’s finally here! Click the link to see how TrustaBit works. Let’s end the days of calling and pleading with customer service about your delayed flight only to get a voucher with tons of limitations. Our digital vouchers will be sent automatically and can be redeemed in various ways. Check it out!
08.16.18
Notice of Material Change in Offering
[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the TrustaBit offering. Here's an excerpt describing the specifics of the change:
TrustaBit is extending their campaign.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
08.01.18
🛩 TrustaBit Proof of Concept Sneak Peek👀
The TrustaBit POC is almost complete❗️Have a look👀
Enter Ticket Number
Flight Status and Claim Options
User Profile and History
07.31.18
Notice of Funds Disbursement
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, TrustaBit has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in TrustaBit be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
07.18.18
Got Data?📱
TrustaBit x Flexiroam!
We've partnered with Flexiroam to deliver high-speed data roaming capabilities in more than 100 countries! Gone are the days of wondering if you will have cell coverage on your upcoming international trip or having to purchase local data plans. Soon, TAB token holders will be able to purchase the Flexiroam 1GB Xcite pack with TAB tokens. The best part – all you have to do is attach the Flexiroam X ultra-thin microchip to your current SIM card, switch on the Flexiroam mobile app and GO! Easy peasy, right? Right. Learn more at flexiroam.com.
Blockchain Seattle Conference
Catch TrustaBit Founder, Saritta Hines at Blockchain Seattle this September! Saritta will be speaking about Blockchain use cases and how her solution will use Smart Contracts to change the way we travel! ..... we’ll see you there! ✈️💫
Check out our recent feature on Moguldom.com
06.21.18
Recent Press
Bad Crypto Podcast ICO Spotlight
http://badcryptopodcast.com/2018/06/07/crypto-spotlight-032/
TOM Travel
http://www.tom.travel/2018/06/07/79974/
Eye for Travel
https://www.eyefortravel.com/mobile-and-technology/blockchain-travel-which-journey-are-you
Tnooz
https://www.tnooz.com/article/trustabit-blockchain/
Bitcoinist
http://bitcoinist.com/why-the-travel-industry-needs-crypto-driven-solutions/
CryptoCurry
http://cryptocurry.com/news/women-in-blockchain/
06.20.18
TrustaBit + Microsoft: Transforming the Blockchain Industry with Positive Change
We pinched ourselves. No, it wasn’t a dream.
TrustaBit CEO, Saritta Hines was recently hand-picked by Microsoft to be featured in a series of ads highlighting various new Windows 10 Pro products that help the company run smoothly. A company like Microsoft could have selected any startup for this opportunity, yet we believe they saw something unique in TrustaBit and recognized the value in our project. We cannot think of another DApp (decentralized application) represented in Fortune 500 company advertisements. Can you? Dare we say, it’s a first! TrustaBit, along with Microsoft, looks forward to transforming the blockchain industry with positive change. The ads can be found on YouTube via the links below.
Windows 10 Pro | Shared Devices
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HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
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