Indeco Launches First Token Pre-sale under SEC’s Regulation Crowdfunding Rules
Campaign Expands Access to Crypto Assets, Promotes Development of Smart, Green Communities
FOR IMMEDIATE RELEASE
Contact: Hiroshi Tokumei; (706) 308–7372; firstname.lastname@example.org
SAN FRANCISCO, C.A. (DECEMBER 5, 2017) At Token Summit, the conference on the emerging token-based economy, Indeco today announced the world’s first crypto asset pre-sale under the SEC’s rules for Regulation Crowdfunding (“Reg CF”). Reg CF allows everyone, regardless of their net worth or income level, to invest in securities issued by startup companies.
With the price of a single bitcoin recently cresting above $10,000, interest among investors for crypto assets has been intense. New crypto assets, also known as “coins” or “tokens,” are typically issued in Initial Coin Offerings (“ICOs”), which have not been actively policed by the SEC.
“We are committed to complying with SEC rules and regulations in this pre-sale period, in our proposed ICO, and throughout secondary market trading,” said David Levine, Indeco CEO. “We believe all crypto assets will be subject to regulatory scrutiny, and we plan to create substantial value for our investors by proactively developing a compliant offering.”
Indeco is pioneering a shared ownership model of sustainable infrastructure assets such as solar energy systems, battery storage and the building control systems that can make dwellings and communities smarter, safer, cleaner and more enjoyable.
Indeco also announced today the company has joined the fall 2017 cohort of Smart City Works, a business actuator and accelerator for startups reinventing the built environment.
“Meeting the needs of 21st cities and their growing populations will require substantial capital, and Indeco has devised a compelling shared ownership solution that can benefit many next-generation infrastructure companies transforming cities and communities,” said David Heyman, co-founder of Smart City Works, former Assistant Secretary of the Department of Homeland Security for Policy and board member of Indeco. “Indeco is a perfect complement to our stable of innovators improving the livability, operations and resilience of communities around the world and here at home.”
Indeco has attracted a stellar board of directors, which includes:
· Executive Chairman Paul Feldman, former CEO of Columbia Energy and Utilicorp United,
· Russ Bruemmer, retired partner and chair of WilmerHale Financial Institutions Group, Former CIA General Counsel and former Chief Counsel-Congressional Affairs for the FBI,
· Denise Denson, angel investor and former EVP Global Content Distribution at Viacom, and
· Jeff Hembrock, former president of Miller Brewing Company
Indeco is offering its token pre-sale on StartEngine, a crowdinvesting platform that is regulated by the SEC regulations. StartEngine’s CEO, Howard Marks, validated Indeco’s plans in a recent blog post, “The right solution is to ask ICOs to use one of the SEC exemptions, which include Regulation Crowdfunding to raise up to $1M, Regulation A+ to raise up to $50M, or Regulation D 506(C) to raise an unlimited amount from accredited investors… The SEC exemptions also allow investors to make informed decisions because they require documentation disclosure requirements.”
This year, the SEC investigated one token, issued by The DAO, and determined that the crypto asset was a security and therefore subject to federal securities laws. The SEC’s report “confirms that issuers of distributed ledger or blockchain technology-based securities must register offers and sales of such securities unless a valid exemption applies.”
Yesterday, the SEC’s new Cyber Unit, created in September to regulate ICOs, took its first action against PlexCoin which promised investors returns of $1,354% in less than 30 days. Since August, PlexCoin has raised $15 million from the sale of its tokens.
By complying with the rules and regulations governing the issuance of securities, Indeco intends to create exceptional value and a positive experience for all participants in our independent ecosystem.
Indeco™, the independent ecosystem, leverages the power of the blockchain to bring about positive environmental, social and economic change through a shared ownership model. Our crypto assets will be backed by solar energy generation, battery storage and sensors and controls that make dwellings smarter, safer and more enjoyable. Let’s work together to improve the livability, operations and resilience of our human habitat around the world and right here at home. For more information visit us at ind.eco.
About Smart City Works
Smart City Works™ is the world’s first business actuator — a new class of business accelerator that canmore rapidly move early stage ventures to commercialization, reduce risk for downstream investors, and improve likelihood of product uptake in the marketplace. Our unique focus on the built environment aims to dramatically change the way we design, build, and operate civil infrastructure. For more information, visit http://www.smartcityworks.io/.
StartEngine™ is the premier equity crowdfunding platform, connecting Millennials and aspiring investors with tomorrow’s progressive companies. Based in Los Angeles, the company was created in 2013 by Howard Marks, co-founder of Activision, and Ron Miller. StartEngine aims to revolutionize the startup business model by helping individuals invest in private companies on a public platform for the first time in history, thereby helping entrepreneurs achieve their dreams. Learn more at http://www.startengine.com.
This release contains forward-looking statements within the meaning of the federal securities laws. In particular, they include statements relating to, among other things, Indeco’s plans, strategies, opportunities for growth and consummation of any capital raises. When used, the words “believe,” “plan,” “will,” “commit,” “can,” “aim” and similar expressions, which do not relate solely to historical matters, are intended to identify forward-looking statements. These forward-looking statements are based on beliefs and assumptions made by, and information currently available to, Indeco.
Such statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties and factors that are beyond Indeco’s control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. While forward-looking statements reflect Indeco’s good faith belief when made, they are not guarantees of future performance.
Indeco expressly disclaims any obligation to update forward-looking statements. You are cautioned not to place undue reliance on such forward-looking statements.