IMPORTANT NOTICE: PROSPECTIVE PURCHASERS SHOULD CAREFULLY CONSIDER THE RISKS INVOLVED IN DETERMINING WHETHER PURCHASING THE TOKENS IS SUITABLE FOR THEM, CERTAIN OF WHICH ARE SUMMARISED BELOW. THE COMPANY RESERVES THE RIGHT TO UPDATE THIS LIST OF RISK FACTORS AND DISCLOSURES FROM TIME TO TIME.
DISCLOSURES REGARDING TOKENS
Tokens in the below refers to any tokens, including but not limited to NFTs, SFTs, ERC-20, ERC-721, ERC-1155, issued by BCCX (“Company”, or “BCCX Platform”)
Token Launch may refer to the sale or offering of any of the BCCX Tokens, whether that is a sale of a Founders’ Edition Membership or any other offering in the future.
Nature of Tokens
Except as explicitly set out, Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the BCCX Platform. The Company does not guarantee and is not representing in any way to a Purchaser that the Tokens have any rights, uses, purpose, attributes, functionalities or features. The purchase of Tokens does not provide a Purchaser with rights of any form with respect to the Company or its revenues or assets, including, but not limited to, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property), or other financial or legal rights; is not a loan to the Company; and does not provide the Purchaser with any ownership or other interest in the Company. A high degree of technical expertise is needed to understand the Tokens, the BCCX Platform and the Token Launch. A prospective Purchaser should not proceed with a purchase of the Tokens unless they fully understand the technical aspects involved.
Tokens are non-refundable
The Company is not obliged to provide Token holders with a refund for any reason and Token holders will not receive money or other compensation in lieu of a refund. The Tokens are also not redeemable at the option of the Purchaser. Statements set out on this website are merely expressions of the Company’s objectives and desired work plan to achieve those objectives. and no promises of future performance or price are or will be made in respect to Tokens, including no promise of inherent value, and no guarantee that Tokens will hold any particular value.
Tokens are provided on an ‘as is’ basis
The Tokens are provided on an “as is” basis. The Associated Parties and each of their respective directors, officers, employees, shareholders, affiliates and licensors make no representations or warranties of any kind, whether express, implied, statutory or otherwise regarding the Tokens, including any warranty that the Tokens and the BCCX Platform will be uninterrupted, error-free or free of harmful components, secure or not otherwise lost or damaged. Except to the extent prohibited by applicable law, the Associated Parties and each of their respective directors, officers, employees, shareholders, affiliates and licensors disclaim all warranties, including any implied warranties of merchantability, satisfactory quality, fitness for a particular purpose, non-infringement, or quiet enjoyment, and any warranties arising out of any course of dealings, usage or trade.
Tokens may have no value
The Tokens may have no value and there is no guarantee or representation of liquidity for Tokens. The Company is not and shall not be responsible for or liable for the market value of the Tokens, the transferability and/or liquidity of the Tokens and/or the availability of any market for Tokens through third parties or otherwise.
Company may not successfully launch the BCCX Platform
The Company may not successfully develop, market and launch the BCCX Platform and you may not receive BCCX Tokens. The BCCX Platform has not yet been fully developed by the Company and it will require significant capital funding, expertise of the Company’s management, time and effort in order to develop and successfully launch the BCCX Platform in its entirety. It is possible that the BCCX Tokens and/or the BCCX Platform may never be released, that there may never be an operational BCCX Token. Even if fully developed, the BCCX Token and/or the BCCX Platform may not meet your current expectations. Despite the Company’s efforts to develop and launch the BCCX Platform and subsequently to further develop and maintain it, it is possible that the BCCX Platform will experience malfunctions or otherwise fail to be adequately developed or maintained, which may negatively impact the BCCX Platform and the BCCX Tokens.
Non-transferrable membership benefits
Any Founders’ Edition membership benefits that the Company, in its sole discretion, chooses to provide, are only available to the original Purchaser (subject to KYC, AML checks) and not transferrable to a third party. The Company is not obliged to provide any benefits to anyone.
Lack of development of market of Tokens
There are no warranties that Tokens will be listed or made available for exchange for other cryptocurrency and/or fiat money. It shall be explicitly cautioned that if Tokens are made available on an exchange, such exchange, if any, may not be subject to regulatory oversight, and the Company does not give any warranties in relation to any exchange services providers. Because there has been no prior public trading market for Tokens, the Token Launch may not result in an active or liquid market for Tokens, and the price of Tokens may be volatile. Token holders may not be able to dispose of Tokens easily and where no secondary market develops, a Token holder may not be able to liquidate at all. Proposed transfers of the Tokens may be blocked by the Company in circumstances where the proposed transferee has not already completed the Company’s KYC and AML procedures (including, without limitation, verification of identity and source of funds) to its satisfaction. Purchasers should be aware of the restrictions on their subsequent sale. The viability of the BCCX Platform and the usability of the Tokens depends on the establishment of partnerships with merchants, retailers, dApp stores etc. Accordingly, if there is a low or limited development of such partnerships, the Tokens may be unusable and become worthless with the entire amount contributed by a Purchaser being at risk.
Highly Competitive Environment
Financial and operating risks confronting start-ups are significant, and the Company is not immune to these. The start-up market in which the Company competes is highly competitive and the percentage of companies that survive and prosper is small. Startups often experience unexpected problems in the areas of product development, marketing, financing, and general management, among others, which frequently cannot be solved. In addition, start-ups may require substantial amounts of financing, which may not be available through institutional private placements, the public markets or otherwise.
Risks relating to highly speculative prices
The valuation of cryptocurrency in a secondary market is usually not transparent, and highly speculative. The Tokens do not hold any ownership rights to the Company’s assets and, therefore, are not backed by any tangible asset. The value of Tokens in the secondary market, if any, may fluctuate greatly within a short period of time. There is a high risk that a Purchaser could lose its entire contribution amount. In the worst-case scenario, Tokens could be rendered worthless.
Delays due to unforeseen, technical, administrative or security issues
The Company reserves the right to change the duration of any membership or offering, of any Tokens, for any reason, including without limitation, bugs in the BCCX Tokens’ Smart Contracts, BCCX Software or the BCCX Platform and/or the unavailability of the Website or other unforeseen, technical, administrative or security issues.
Expropriation and/or Theft
The Tokens may be subject to expropriation and or/theft. Hackers or other malicious groups or organizations may attempt to interfere with the BCCX Tokens’ Smart Contracts, this Website or the Tokens in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing.
Force Majeure
The Token Launch and the performance of the Company’s activities set out in this website and the development roadmap may be interrupted, suspended or delayed due to force majeure circumstances. For the purposes of this website, “force majeure” shall mean extraordinary events and circumstances which could not be prevented by the Company and shall include: changes in market forces or the technology, acts of nature, wars, armed conflicts, mass civil disorders, industrial actions, epidemics, lockouts, slowdowns, prolonged shortage or other failures of energy supplies or communication service, acts of municipal, state or federal governmental agencies, other circumstances beyond the Company’s control, which were not in existence at the time of Token Launch.
Alternative Networks
It is possible that alternative networks could be established that utilise the same or similar open source code underlying the BCCX Platform and attempt to facilitate services that are materially similar to those offered on the BCCX Platform. The BCCX Platform may compete with these alternative networks, which could negatively impact the BCCX Platform and the BCCX Tokens. The BCCX Tokens are comprised of open-source technologies that depend on a network of computers to run certain software programs to process transactions. Because of this less centralized model, the Company has limited control over the BCCX Tokens and the BCCX Platform once launched. In addition, you are not and will not be entitled to, vote or receive dividends or be deemed the holders of capital stock of the Company for any purpose, nor will anything be construed to confer on you any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action or to receive notice of meetings, or to receive subscription rights or otherwise.
Insurance
Unlike bank accounts or accounts at financial institutions, Tokens are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer or private insurance arranged by the Company to offer recourse to a Purchaser.
Regulation and other factors
The further development and acceptance of blockchain networks, including the BCCX Platform, which are part of a new and rapidly changing industry, are subject to a variety of factors that are difficult to evaluate. The slowing or stopping of the development or acceptance of blockchain networks and blockchain assets would have an adverse material effect on the successful development and adoption of the BCCX Platform and the BCCX Tokens. The growth of the blockchain industry in general, as well as the blockchain networks with which the BCCX Platform will rely and interact, is subject to a high degree of uncertainty. The factors affecting the further development of the cryptocurrency industry, as well as blockchain networks, include, without limitation:
• Worldwide growth in the adoption and use of Bitcoin, Ether and other blockchain technologies;
• Government and quasi-government regulation of Bitcoin, Ether and other blockchain assets and their use, or restrictions on or regulation of access to and operation of blockchain networks or similar systems;
• The maintenance and development of the open-source software of the Bitcoin or Ethereum networks;
• Changes in consumer demographics and public tastes and preferences;
• The availability and popularity of other forms or methods of buying and selling goods and services, or trading assets including new means of using fiat currencies or existing networks;
• General economic conditions and the regulatory environment relating to cryptocurrencies; or
• A decline in the popularity or acceptance of the Bitcoin or Ethereum networks may adversely affect our results of operations.
Regulatory status of cryptographic tokens, digital assets and blockchain technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether governmental authorities will regulate such technologies. It is likewise difficult to predict how or whether any governmental authority may make changes to existing laws, regulations and/or rules that will affect cryptographic tokens, digital assets, blockchain technology and its applications. Such changes could negatively impact BCCX Tokens in various ways, including, for example, through a determination that BCCX Tokens are regulated financial instruments that require registration. The Company may cease the distribution of BCCX Tokens, the development of the BCCX Software and/or BCCX Platform or cease operations in a jurisdiction in the event that governmental actions make it unlawful or commercially undesirable to continue to do so.
Abandonment of the Platform
You understand that the development of the BCCX Software and/or BCCX Platform may be abandoned for a number of reasons, including, but not limited to, lack of interest from the public, lack of funding, lack of commercial success or prospects, or departure of key personnel, and therefore any ongoing success in the BCCX Software and/or BCCX Platform relies solely on the interest and participation of third parties. There can be no assurance or guarantee that there will be sufficient interest or participation in the BCCX Tokens distribution.
Other Risks
You understand and accept that the risks described herein and other risks which are not specifically mentioned may cause you damage including, among other things, the complete loss of Funds and/or BCCX Tokens, and that the Company reserves the right in its sole discretion not to compensate, refund or guarantee any remedy for any damage or loss to you and/or to any third party in relation thereto.
Forward Looking Statements
All statements, estimates and financial information contained in this website, made in any press releases or in any place accessible by the public and oral statements that may be made by the Company or any Associated Party that are not statements of historical fact, constitute “forward-looking statements”. Some of these statements can be identified by forward-looking terms such as “aim”, “target”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “if”, “intend”, “may”, “plan”, “possible”, “probable”, “project”, “should”, “would”, “will” or other similar terms. However, these terms are not the exclusive means of identifying forward-looking statements. All statements regarding the Company’s financial position, business strategies, plans and prospects and the future prospects of the industry which the Company or the BCCX Platform is in are forward-looking statements. These forward-looking statements, including but not limited to statements as to the Company’s or the BCCX Platform’s revenue and profitability, prospects, future plans, other expected industry trends and other matters discussed in this website regarding the Company or the BCCX Platform are matters that are not historic facts, but only predictions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results, performance or achievements to differ materially from the estimates or the results implied or expressed in such forward-looking statements. These factors include, amongst others:
• changes in political, social, economic and stock or cryptocurrency market conditions, and the regulatory environment in the countries in which the Company and the BCCX Platform conducts their respective businesses and operations;
• the risk that the Company or the BCCX Platform may be unable to execute or implement its or their business strategies and future plans;
• changes in interest rates and exchange rates of fiat currencies and cryptocurrencies;
• changes in the anticipated growth strategies and expected internal growth of the Company or the BCCX Platform;
• changes in the availability and fees payable to the Company in connection with its respective businesses and operations and/ or the BCCX Platform;
• changes in the availability and salaries of employees who are required by the Company to operate the respective businesses and operations and/or the BCCX Platform;
• changes in preferences of the customers of the Company or the BCCX Platform;
• changes in competitive conditions under which the Company or the BCCX Platform operates, and the ability of the Company or the BCCX Platform to compete under such conditions;
• changes in the future capital needs of the Company or the BCCX Platform and the availability of financing and capital to fund such needs;
• war or acts of international or domestic terrorism;
• occurrences of catastrophic events, natural disasters and acts of God that affect the businesses and/or operations of the Company and/or the BCCX Platform;
• other factors beyond the control of the Company; and
• any risks or uncertainties associated with the Company and its business and operations, the Tokens, the Token Launch, the BCCX Platform and the underlying assets (each as referred to in this website).
