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)
|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|
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
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.
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.
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.
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.