Lantah is conducting a private Pre-ICO token sale for accredited investors. The purpose of this is to get funding for hosting our ICO. This article intends to highlight and explain some of the whys and whats behind our process in greater detail.
A Pre-ICO sale, or as it is also termed a Simple Agreement for Future Tokens (SAFT), is an important time for a new crypto startup. The use of these pre-sales as a funding mechanism before the official crowdsale or ICO (Initial Coin Offering) campaign starts, is gaining popularity.
They are much simpler to execute than a regular IPO, but they still fall under the SEC designation of “security,” and as such, are typically offered using a Reg D exemption. That means in order to participate, you must qualify as an accredited investor.
The Securities and Exchange Commission (SEC) has strict requirements as to who qualifies as an accredited investor. Any person whose individual net worth, or joint net worth meets or exceeds $1,000,000.
These individuals must have reported income of at least $200,000 in the last two years or have a joint income of $300,000 with their spouse in each of those years. They must also have a reasonable expectation of reaching the same income in the current year.
Lantah has secured the services of an independent 3rd party provider to assist the required vetting process. Once investors have met the verification requirements, interested parties may proceed with the transaction by contacting someone within our developer group.
The Pre-ICO limits
Lantah’s Pre-ICO efforts begin with offering a limited number of tokens. These tokens will be for sale for a short time and are intended to bootstrap Lantah in preparation for the full ICO offering.
The Pre-ICO has a set limit of 50 million coins. The target figure for Lantah’s Pre ICO fundraising is $4,285,714.
A full ICO launch is expected to begin in Q2 or Q3 of 2018, which includes but is not limited to:
• Securing development resources
• Securing legal resources to prepare for ICO offering
• Securing early infrastructure for expanding Lantah operations
• Purchasing advertising and travel in support of the ICO offering
Once our ICO begins, tokens are expected to be available in a crowdsale to the public and distributed after the conclusion of the ICO
To find out more about Lantah’s private Pre-ICO sale, please email Contact@Lantah.com.
Note: This blog post is not professional investment or legal advice in any way.