Hi. What will be your Initial Crystal Offering (ICO)?
Initial Crystal Offering (ICO) will be implemented in the form FOL (Foleum mining crystals).
FOL (Forum mining crystals) - will be the main currency in Foleum, for all project participants.
So, what's FOL(Forum mining crystals) exactly is, what is it representing?
(FOL) Foleum mining crystals is an Ethereum security token, representing the
right to profit-sharing from the mining proceeds of the Foleum project.
And how much this token will be able at the start?
For the start there will be able Total Foleum Mining Crystals: 300,000,000
The FOL Crystal (token) was already classified??
Yes, the FOL Crystal (token) is classified as a security under U.S. securities laws
and as a result the ICO will be restricted to certain types of investors in order to
comply with U.S. securities laws.
Oh i see...to whom exactly do these restrictions apply?
It's pretty basically anyone who does not meet the requirements of the accredited investor.
Rule 506(c) defines an “accredited investor” as:
• an individual with a net worth of at least $1 million, not including the value of his or her primary residence
• an individual with income exceeding $200,000 in each of the two most recent calendar years or joint income
with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the
current year, or
• a trust with assets of at least $5 million, not formed only to acquire the securities offered, and whose
purchases are directed by a person who meets the legal standard of having sufficient knowledge and experience
in financial and business matters to be capable of evaluating the merits and risks of the prospective investment
• a bank, insurance company, registered investment company, business development company, or small
business investment company
• an employee benefit plan (within the meaning of the U.S. Employee Retirement Income Security Act) if a bank,
insurance company, or registered investment adviser makes the investment decisions, or if the plan has total
assets in excess of $5 million
• a tax exempt charitable organization, corporation or partnership with assets in excess of $5 million
• a director, executive officer, or general partner of the company selling the securities
• an enterprise in which all the equity owners are accredited investors