Focus on Baltic: Big Plans for Unknown Estonian Blockchain Company
Unknown and small blockchain company with minimum capital EUR 2500 and legally registered only on 18th of March 2018 files to US Securities and Exchange Commission (SEC) to raise $180 Mil. in a SAFT (Simple Agreement for Future Tokens) sales on 4th of June, 2018. They are offering GoWeb tokens through this offering.
Using Rule’s 506 (c) exemption
Company NewTech Myning OU announced that they are exempt from registration under Rule 506 (c) what means that company can raise an unlimited amount of money, first of all, but it also means that they can’t use “general solicitation or advertising to market the securities” for example. That would also mean that accredited investors can contribute to their offering and up to 35 other purchasers. There is also a rule that states that the securities cannot be sold for at least six months or a year without registering them. This would give company assurance that securities would not be resold in the public marketplace within a certain time period.
By information that is available online one can find that company is managed by board member Rainer Osanik and registered address is in Tallinn, Estonia. Osanik works in law firm Roslaw based in Tallinn.
This company has come with unusual strategy – there is no awareness in public, they are complete newcomers and not known in a blockchain companies’ landscape. Possibly there is some answer to their actions and we will try to get in touch with this company and talk about their strategies and plans.
Meanwhile, if we check out their Telegram account – that has no members and we are having difficulty to find their Internet website. There is the Facebook page for GoWeb that indicates 164 followers on July 17th, 2018.