Maximum 1,070,000 shares of non-voting common stock ($1,070,000)
*Maximum subject to adjustment for bonus shares. See 10% Bonus below.
Minimum 10,000 shares of non-voting common stock ($10,000)
|Corporate Address||303 Twin Dolphin Drive, Suite 600, Redwood City, CA 94065|
|Description of Business||SHIFTMobility provides B2B solutions to seamlessly connect auto-parts manufacturers, distributors, repair centers, dealers and connected cars on SHIFTMobility Automotive Blockchain Platform.|
|Type of Security Offered||Non-Voting Common Stock and AutOn Tokens|
|Purchase Price of Security Offered||$1.00 per Share of Non-Voting Common Stock|
|Minimum Investment Amount (per investor) ||$500.00|
For every $100 that you invest, the Offering includes 1 AutOn Token.
AutOn Tokens may be used to purchase products (ex: cars, brake pads) and services (ex: oil change) on the SHIFTMobility Network.
*All perks and tokens will be delivered after the campaign is completed, and upon availability of the Tokens.
Terms of Tokens
AutOn Utility Tokens
Description: AutOns are SHIFTMobility's ERC-20 compliant utility tokens, that would be issued on the Ethereum blockchain.
AutOn empowers businesses and customers to engage with one another in a transparent and trustworthy manner from the first time they purchase their vehicle through its maintenance lifecycle. AutOn tokens are purchasable by shops, chains, distributors, and manufacturers to reward to car owners. Tokenized data means diminished friction between participants and real-time engagement between customers, workers, dealers and vehicles. AutOns are the next generation in consumer reward programs and can be used for purchasing cars, parts, or repair services. AutOn when approved are released to customer's wallet address and can be accessed from VehiclePassport app.
- Initial Blockchain for issuance of AUTON token to investors: ERC20. We have 30 million AUTONS already available on Etherscan so that we can issue them to the investors.
- Migration to Alternative Blockchain: N/A. We will continue to issue tokens to investors using Ethereum.
- Expected Network Launch date: Q3 2018
- Total amount of Tokens authorized for creation: 30,000,000
- Amount of Tokens or Rights to Tokens already issued: We would be issuing tokens in proportion to capital raised on Start Engine. We have not issued tokens in any pre-sale raise. We have not reserved the rights to any of these tokens allocated definitively.
- Will they be listed on Exchanges: No
Other Material Terms:
- Voting Rights: None
- Restrictions on Transfer: 1 year from closing of Offering
- Dividends/Distributions: None
- Redemption Rights: None
- Other: None
What does the token represent? What does the token do? Where can it be used (please include the name of the network, if any)?
AUTON utility token allows investors to buy products on SHIFTMobility Network. The token does not provide equity or revenue share.
AUTON tokens can be used to purchase licensed OEM repair information for vehicles and to diagnose DTC issues. AUTON tokens can only be used on SHIFTMOBILITY network.
The Company has a fully functional distributed ledger based business model and a blockchain based token and we use Blockcurr private blockchain infrastructure. Ethereum is only used for payments depending upon the use case of the automotive industry.
The token is currently not intended to be listed 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.
The 10% Bonus for StartEngine Shareholders
SHIFTMobility, 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 Non-Voting Common Stock at $1 / share, you will receive 10 Non-Voting 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.
The Company will not incur any irregular use of proceeds. Specifically, it does not plan to use any expense that is for the purposes of inter-company debt or back payments or payment of the current loan from the officer. Officer's salaries are expected to be paid with revenue being generated or capital raised from other avenues and not from Regulation Crowdfunding funds.
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.