Topic: [ANN][Pre-ICO] MedChain - SEC Filed, Open to unaccredited US investors! - page 2. (Read 12056 times)

I did not find the team. This is an important circumstance. I hope we get the information.

Happy to hear you decided to invest! I've heard good and bad from people about the KYC process, including annoyance at having to constantly reconfirm investment.

We've also -finally- received an 'official' update on crypto investments... April 20th... *groan* StartEngine has offered to cover the cost of us amending our offering to extend, and I believe we will take advantage of that offer to allow non-accredited cryptocurrency investors a chance to get in at this most advantageous stage.

Edit: If an investment hasn't cleared prior to a close the money will get disbursed to the 3rd party escrow account, then to us after the clearing period.


I have been working closely with our CTO over the last weeks, we have deployed an internal blockchain and private IPFS, we will be hosting a workshop at Colorado University of Boulder showcasing some of this work this coming weekend. In the next 1-1.5 months we should be ready to launch a minimum viable product demo as we transition into our Regulation D 506(c) offering for accredited investors only. We are hopeful that our platform will be launch ready in late Q4 2018 early Q1 2019.


Due to the potentially regulated nature of our token, at this time it's difficult for us to provide bounties in the traditional sense; it would have to be in the form of a work compensation agreement and have significant out-of-pocket legal costs for us. As this funding round comes to a close we'll be better poised to approach the subject.

any plans for bounties

They’ve been pretty open with their communication.

cool project, Transforming Social Media Marketing with be using Smart Contract to abolish the escrow for Influencer-Brand dealings. good luck and i wait bounty campaign

An interesting idea. Tell me when the work will be completed?

Ah.  Good to know, sounds like you’ve got a very proactive team.  I invested; though I wonder if the funds will clear prior to your anticipated close... looks like the funds take 10 days to clear SE’s automated clearinghouse and you might be closing in <5 days.

What happens if the timing is not aligned?  Also it took <3 min to invest... pretty quick.  I was also a bit surprised that the subscription docs weren’t sent by start engine or even linked to the payment page... maybe a bit TOO streamlined?

How long will you keep the offering open?  Until you hit the $1m+?

No trouble yet, hopefully none will come about!

StartEngine is acting as the Electronic/Stock Transfer Agent on our behalf. But due to the nature of a Regulation CF offering I can't discuss the 'terms' of the offering, which may broadly include what someone 'gets' when investing. We do have a Pitch Deck available, and our Form C filed with the SEC includes the subscription agreement.

Surprisingly few people have watched the video; but that might have to do with StartEngines layout.

The reason we can't accept cryptocurrency is entirely because StartEngine has so far refused to make it available for Regulation CF offerings despite offering it for Regulation D 506(c) and Regulation A+ offerings. If I had to make a guess as to their reason it has to do with the wording in the JOBS Act requiring a specific kind of 3rd party escrow account for the offering. At this time I'm not entirely sure when it will become available, if at all, which is extremely frustrating for us.

We've been able to run Facebook ads after contacting Facebook and supplying them with our Form C offering documentation filed with the SEC. (Proving we're a real company, with a regulated offering)

Be careful not to double post (create two posts in a row).  Some MODS get pissed when they see it and will ding your profile.

So, what docs does someone get if they invest?  Whitepaper?  Subscription agreement?  Offering circular?  Deck?

Or do they just watch an explainer video and swipe their card?  Why can't you take crypto instead of fiat?  When will this change?

Can you still run Facebook ads?  I heard they banned all crypto related adverts, same as twitter and google.

We’re pleased to announce that Steve Wishstar has joined the MedChain team as Chief Technical Officer.

Steve is an experienced CTO and hands-on Sr. Software Engineer with extensive experience working on projects for NASA Ames, Lockheed Martin and Raytheon. He has a demonstrated history of producing maintainable code, developing automated test driven architectures, and solidifying full-stack integrity; with roles leading teams up to 15 engineers and software/website designers we’re confident he will be an exceptionally valuable addition to the team.

He also brings additional patent experience to help protect our IP as development gets more focused.

Upcoming events:

April 14-15
We’re sponsoring the CU Blockchain Summit at University of Colorado Boulder and hosting a blockchain workshop for students starting to familiarize themselves with this innovative technology.
For additional information visit: https://summit.cublockchain.org/

April 17-19
We’re sponsoring the TOKENOMx crypto-conference in Chiang Mai, Thailand which represents our first footsteps into the East Asia market, we’re excited about potential partnerships and relationships this will generate for us.
For tickets and information visit: https://tokenomx.com/

April 19-20
We’re sponsoring the Global Blockchain Summit in Denver Colorado, be sure to get your tickets for the event while they last and come say hi to the MedChain team!
For tickets and information visit: https://globalblockchainsummit.com

StartEngine is getting 6-8% of the raise for KYC/AML, that means they are already receiving 30k+.

Not using their ad company, we started using them before they marketed any such thing. I'm trying to be very engaging on Social Media but it gets hard with the limits on 'term' language.

Legal is already way (way) above that, but those numbers will all be part of our disclosures. 99% stateside investors so far.

Thanks so much for your interest and the merit!

Hm.  Interesting that you would have gone CF before the Reg D 504 from family & friends.  So, if this wasn't the ICO, then StartEngine didn't charge you $25k, their fee is only $5k.  I would think that the KYC / AML checks that they are doing on the investors alone is worth the rake.  Are you also doing the 5% advertising reinvestment through their captive ad company?  Seems like you are getting some great interest of FB, which is typically a pretty fickle crowd.  Props to you for getting back to them on all the questions, I think that is half the battle.

Regarding office space... it's interesting that RIOT Blockchain is in Castle Rock too... such a small town for two notable Blockchain entrants.

The CF has to be profitable for you.  Figure $28k in rake, another $30k in ads, $5k legal and maybe $5k accounting and you are still up $332k.

Are you getting most of your investors stateside or international?

Watching you with great interest, and hopeful for your success! (I awarded your first ever merit point on BitcoinTalk!)

Following this offering we will be conducting the more typical Regulation D 506(c) or 'Reg D' for accredited investors only. When we are ready to deploy our software/blockchain we will be conducting our Regulation A+ ICO to take the Token 'public', so to speak. (Currently projected for late 2018 early 2019)

not bad the result of pre-sale . i want to know when will crowd-sale  ,the market fall down ,i really want to know the plan .

We've raised over $400,000 so far from about 450 investors.

StartEngine has been 'okay'. They've been promising we would be able to accept cryptocurrency investments since Early December, but still have not made good on that promise. There's been a few other oddities, but their 5-8% take is a necessary evil with this sort of raise, as a Title III offering must be through a 'Funding Portal'. The limitation on advertising on a 'Regulation CF' offering, coupled with strict KYC and only fiat investments has also caused some irritation not usually seen encountered in ICO's avoiding US regulation.

We're currently looking for suitable office space in the Greater Denver area; My co-founders home is listed as the current office address, he is the also CEO of Zynex Medical, a publicly traded Medical Device company(ticker:ZYXI), so I don't think it should cause any red flags.

In rough numbers, how much have you raised thus far?  How has start engine been?  Worth the $25k + rake?

Have you had any questions about using your home address as your office address in your collateral?  I just wonder because it looks like a nice home, and I wonder if it's been a net positive or if it is throwing red flags?

Either way, I wish you the very best of luck!!

We're very excited about how helpful functional interoperability will be! We're still early in development but we'll have beta opportunities closer to 2019.

I just stumbled across your project by chance. I am a health scientist with over 15 years of experience and see the issues with EMRs frequently impeding our ability to answer questions with data. A project with like would be quite helpful if it could succeed.

I have a graduate degree in biostatistics and am involved with a lot of statistical computing (modeling data to answer particular questions, in programming languages dedicated to mathematical statistics). If you even encounter a need of that sort, I would be open to helping, just pm me. Regardless, good luck.

Chief Technical Officer and Lead Developer announcement in the coming days! 

Short interview about MedChain at Day4Crypto

https://www.youtube.com/watch?v=fiDnNHl8ikQ