Market & Industry Information
The Smart City Enterprise project Business Case and web-site includes market and industry information and forecasts that has been obtained from internal surveys, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Such surveys, reports, studies, market research, publicly available information and publications generally state that the information that they contain has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information.
Lanast Co. has not conducted any independent review of the information extracted from third party sources, verified the accuracy or completeness of such information or ascertained the underlying economic assumptions relied upon therein. Consequently, any entities of Lanast Co. and officers and employees thereof do not make any representation or warranty as to the accuracy or completeness of such information and shall not be obliged to provide any updates on the same.
The CITY token is not intended to constitute a security in any jurisdiction. Lanast Co. reserves the right to act with the CITY token based on the evolution of crypto currencies and blockchain technologies regulation needs and in-line with the the CITY token legal exit strategy.
The CITY tokens do not have any legal rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the Smart City Enterprise Project. Lanast Co. does not guarantee and is not representing in any way to Purchaser that the CITY token have any rights, uses, purpose, attributes, functionalities or features till the CITY token will become an authorised tool by certification authority. After that the CITY token will receive Equity which is describes in Updates To The Detail Of The Token Sale topic.
Please note, that purchases of the CITY token are final and non-refundable and purchases cannot be cancelled. Lanast Co. reserves the right to refuse or cancel the CITY token purchase requests at any time in its sole discretion. Individuals, businesses, and other organizations should carefully weigh the risks, costs, and benefits of acquiring the CITY token.
Project funding will be covered by hybrid currency model. 20% of the project - the core business processes will be covered by fiat currency investors. A continuous financial support of the project will be covered by crypto currency investors by CITY token smart contract. Project distributes to crowdsale 1.643.609.281 with a power of 51% of the net Profit share. The limitation for crypto investors is 4369 investment positions.
Smart contract for token sale will be open for undefined period with possibility of continuous token operations by project. CITY Token, as a hybrid tool is on initial stage share convertible security and after project's operations establishment, non-converted tokens will be used as utility. Token's operations for whole project duration will be managed by single Smart Contract.
The voting rights will be applied to the company development process right after HQ establishment. Smart City Enterprise will release on quarter base the set of company development directions and ask shareholders to directly participate on decision of the way to grow. After the Equity Stage, only the holders of physical shares certificates, or securities will have voting rights.
A yearly dividend of 51% net profit share will paid proportionally between all crypto investors. The first dividend will be set after break-even point. The maximal amount paid on dividend is 500% of investment return. Dividend will be paid only after certification by legal authority and conversion of CITY token to share.
The Purchaser understands that while Lanast Co. will make best efforts to release the Smart City Enterprise Project on time, it is possible that the official release may be delayed.
As with other crypto tokens, value of a CITY tokens may fluctuate significantly and become reduced in value for any number of reasons, including but not limited to, supply and demand, overall crypto tokens’ market conditions, political or geographical reasons, changes of regulations in any jurisdictions, and technical reasons.
CITY tokens will be issued on the Ethereum blockchain. As such, any malfunction or unexpected functioning of the Ethereum protocol may impact the purchaser’s ability to transfer or securely hold CITY tokens. Such impact could adversely affect the value of CITY tokens.
Updates To The Detail Of The Project
LANAST CO. reserves the right, at its sole discretion, to change, modify, add, or remove portions of this project whitepaper, business case and the terms at any time during the sale by posting the amendment on the SmartCityCoin.io website news. Any purchaser will be deemed to have accepted such changes by purchasing CITY token. If at any point you do not agree to any portion of the then-current version of conditions and the terms, you should not purchase CITY token.
When the CITY token become an authorised tool by certification authority it will grant next rights and benefits to the token’s holders:
Representation & Warranties By The Purchasers
By participating in the token sale of CITY tokens, the Purchaser represents and warrants to Lanast Co. as follows:
Lanast Co. does not make or purport to make, and hereby disclaims, any representation, warranty or undertaking in any form whatsoever to any entity or person, including any warranty or undertaking in relation to the accuracy and completeness of any of the information set out in project business case.
Limitation Of The Purchasers
If you are citizen, resident of, or a person located or domiciled in, or any entity, including, without limitation, any corporation or partnership created or organized in or under the laws of the People’s Republic of China, United States of America, Singapore, Algeria, Bolivia, Kyrgyzstan, Lebanon, Morocco, Namibia, North Korea are not allowed to participate on the project crowdsale in paper-less form, although they are allowed to participate on the project as a general project members.
Purchases of CITY token should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of crypto tokens and blockchain based software systems. Purchasers should have functional understanding of storage and transmission mechanisms associated with other crypto tokens. Any entities of Lanast Co. and officers and employees thereof will not be responsible in any way for loss of any crypto tokens, CITY token or fiat currency resulting from actions taken by, or omissions of the purchasers. If you do not have the required experience or expertise, then you should not purchase CITY token or participate in the sale of CITY token.
You should carefully consider the risks, costs, and any other demerits of acquiring CITY token, and, if necessary, obtain your own independent advice in this regard. If you are not in the position to accept nor to understand the risks associated with the sale of CITY token (including the risks related to the non-development of Smart City Enterprise Project) or any other risks as indicated in this project, you should not acquire CITY token, until such that you have received the necessary independent advice.
Accounting and Legal
The purchase of the CITY token carries with it significant risk. Prior to purchasing the CITY token, the Purchaser should carefully consider the risks listed below and, to the extent necessary, consult a lawyer, accountant, and/or tax professional prior to determining whether to purchase CITY token.
The CITY token will be stored in a wallet, which can only be accessed with a password selected by the purchaser. If a purchaser of the CITY token does not maintain an accurate record of their password, this may lead to the loss of the CITY token. If your password protection is weak and it is cracked or learned by somebody else, this may also lead to the loss of the CITY token. As a result, Purchasers must safely store their password in one or more backup locations that are well separated from the primary location.
The Purchaser recognizes that some of the services under the Smart City Enterprise Project is on development stage and may undergo significant changes before release to the business. The Purchaser acknowledges that any of its expectations regarding the form and functionality of the Smart City Enterprise Project may not be met.
To the maximum extent permitted by the applicable laws, regulations and rules, CITY tokens, any entities of Lanast Co. and officers and employees thereof shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on this whitepaper or any part thereof by you.
Any entities of Lanast Co. and officers and employees thereof shall not be liable for your loss of CITY tokens after it is transferred to you by any reason including but not limited to your failure to maintain or backup an accurate record of your password or password cracking by somebody due to your poor maintenance of your password.
Lanast Co. will do its best to launch its operations and develop SMART CITY PROJECT. Any person undertaking to acquire CITY tokens acknowledges and understands however that Lanast Co. Does not provide with any warranty as to the release of the SMART CITY PROJECT. They acknowledge and understand therefore that Lanast Co. incl. its bodies and employees) assumes no liability or responsibility for any loss or damage that would result from or relate to the incapacity to use the CITY tokens.
Regulatory authorities are carefully scrutinizing businesses and operations associated to Crypto Tokens in the world. In that respect, regulatory measures, investigations or actions may impact Lanast Co.’s business and may limit or prevent it from developing its operations in the future. Any person undertaking to acquire CITY tokens must be aware that Lanast Co.’s business model or SMART CITY PROJECT and its existing platforms may change or need to be modified because of new regulatory and compliance requirements from any applicable laws in any jurisdictions. In such case, purchasers and any person undertaking to acquire CITY tokens acknowledge and understand that neither Lanast Co. nor any of its affiliate shall be held liable for any direct or indirect loss or damages caused by such changes.
Acquiring CITY tokens shall not grant any right or influence over Lanast Co.’s organization and governance to the purchasers till the CITY token will be converted to share by an authorised tool by a legal certification authority.
Last Update: July, 13, 2018
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