I Offer Details
The following table sets out the issued capital of the Company following the Offer.
I How funds will be used
The table below sets out the intended use of funds raised under this CSF Offer based on the Minimum and Maximum subscription amounts.
In the table, ‘working capital’ includes overhead expenses, employee wages and director remuneration. Details of payments to be made to directors and senior managers are itemised below:
- Directors’ remuneration: $0.00. The directors have resolved to draw no fees until the company breaks even.
- Senior manager remuneration: $460,000
- The costs of the CSF Offer include the Intermediary’s fees under the hosting agreement between the Company and the Intermediary. These fees are $5,000 plus and 7% of capital raised.
Other than as specified above, no other payments from the funds raised will be paid (directly or indirectly) to related parties, controlling shareholders, or any other persons involved in promoting or marketing the CSF Offer.
CORPORATIONS REGULATIONS 2001 - RISK WARNING about Crowd-sourced funding
- Crowd-sourced funding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of ventures is speculative and carries high risks.
- You may lose your entire investment, and you should be in a position to bear this risk without undue hardship.
- Even if the company is successful, the value of your investment and any return on the investment could be reduced if the company issues more shares.
- Your investment is unlikely to be liquid. This means you are unlikely to be able to sell your shares quickly or at all if you need the money or decide that this investment is not right for you.
- Even though you have remedies for misleading statements in the offer document or misconduct by the company, you may have difficulty recovering your money.
- There are rules for handling your money. However, if your money is handled inappropriately or the person operating the platform on which this offer is published becomes insolvent, you may have difficulty recovering your money.
- Ask questions, read all information given carefully, and seek independent financial advice before committing yourself to any investment.
FINANCIAL MARKETS CONDUCT REGULATIONS - WARNING STATEMENT ABOUT EQUITY CROWDFUNDING
- Equity crowd funding is risky.
- Issuers using this facility include new or rapidly growing ventures. Investment in these types of businesses is very speculative and carries high risks.
- You may lose your entire investment, and must be in a position to bear this risk without undue hardship.
- New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for Investors to make an informed decision.
- The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.
- Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.