Terms & Conditions
All users who register for the token sale must agree to the below Terms & Conditions.
Rose Hill Acquisition Company LTD. (d/b/a Oxford BioChronometrics)
TERMS OF TOKEN SALE
PLEASE READ THESE TERMS OF TOKEN SALE CAREFULLY. NOTE THAT SECTION 14 CONTAINS A BINDING ARBITRATION CLAUSE AND CLASS ACTION WAIVER, WHICH, IF APPLICABLE TO YOU, AFFECT YOUR LEGAL RIGHTS. IF YOU DO NOT AGREE TO THESE TERMS OF SALE, DO NOT PURCHASE TOKENS.
Your purchase of OxfordCoin (“OXB”) during the OXB sale period (“Sale Period”) from Rose Hill Acquisition Company LTD (“Company,” “we,” or “us”) is subject to these Terms of Sale (“Terms”). Each of you and Company is a “Party,” and together the “Parties.”
By purchasing OXB from us during the Sale Period and/or using OXB in connection with the Platform (as defined below), you will be bound by these Terms and all terms incorporated by reference. If you have any questions regarding these Terms, please contact us at email@example.com/
You and Company agree as follows
- Purpose and Use of OXB in Connection with the Platform
OXB are intended to be used as a payment mechanism for and other advertising related transactions and services (the “Services”), as facilitated through a platform that Company and its affiliates are developing (the “Platform”). Important additional details regarding the Services and Platform are provided in Exhibit A.
Ownership of OXB carries no rights, express or implied, other than the right to use OXB as a means to obtain Services, and to enable usage of and interaction with the Platform, when it is successfully completed and deployed. In particular, you understand and accept that OXB do not represent or confer any ownership right or stake, share or security or equivalent rights, or any right to receive future revenue shares, intellectual property rights or any other form of participation in or relating to the Platform, and/or Company and its corporate affiliates, other than rights relating to the receipt of Services and use of the Platform, subject to limitations and conditions in these Terms and applicable Platform Terms and Policies (as defined below). OXB are not intended to be a digital currency, security, commodity or any other kind of financial instrument.
- Scope of Terms
Unless otherwise stated herein, these Terms govern only your purchase of OXB from us during the Sale Period.
The use of OXB in connection with the Services or Platform may be governed by other applicable terms and policies (collectively, the “Platform Terms and Policies”). Any Platform Terms and Policies we promote will be available at www.oxford-biochron.com. We may add terms or policies to the Platform Terms and Policies in our sole discretion, and may update each of the Platform Terms and Policies from time to time according to modification procedures set forth therein. To the extent of any conflict with these Terms, the Platform Terms and Policies shall control with respect to any issues relating to the use of OXB in connection with the Services or Platform.
- Cancellation; Refusal of Purchase Requests
Your purchase of OXB from us during the Sale Period is final, and there are no refunds or cancellations except as may be required by applicable law or regulation. We reserve the right to refuse or cancel OXB purchase requests at any time in our sole discretion.
- OXB Sale Procedures and Specifications
Important information about the procedures and material specifications of our OXB sale is provided in Exhibit B, including, but not limited to, details regarding the timing and pricing of the OXB sale, the amount of OXB we will sell, and our anticipated use of the OXB sale proceeds. By purchasing OXB you acknowledge that you understand and have no objection to these procedures and material specifications.
- Acknowledgment and Assumption of Risks
You acknowledge and agree that there are risks associated with purchasing OXB, holding OXB, and using OXB in connection with the Services and Platform, as disclosed and explained in Exhibit C. If you have any questions regarding these risks, please contact us at firstname.lastname@example.org. BY PURCHASING OXB, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS.
You are responsible for implementing reasonable measures for securing the wallet, vault or other storage mechanism you use to receive and hold OXB you purchase from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your OXB. We are not responsible for any such losses.
- Personal Information
We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable law or regulation in connection with selling OXB to you. You agree to provide us such information promptly upon request, and you acknowledge that we may refuse to sell OXB to you until you provide such requested information and we have determined that it is permissible to sell you OXB under applicable law or regulation.
The purchase price that you pay for OXB is exclusive of all applicable taxes. You are responsible for determining what, if any, taxes apply to your purchase of OXB, including, for example, sales, use, value added, and similar taxes. It is also your responsibility to withhold, collect, report and remit the correct taxes to the appropriate tax authorities. We are not responsible for withholding, collecting, reporting, or remitting any sales, use, value added, or similar tax arising from your purchase of OXB.
- Representations and Warranties
By transferring payment to us (“Smart Contract System”, as explained in Exhibit B) to purchase OXB from us, you represent and warrant that:
- You have read and understand these Terms (including all Exhibits);
- You have a sufficient understanding of the functionality, usage, storage, transmission mechanisms and other material characteristics of cryptographic tokens like Bitcoin and Ether, token storage mechanisms (such as token wallets), blockchain technology and blockchain-based software systems to understand these Terms and to appreciate the risks and implications of purchasing OXB;
- You have carefully reviewed the code of the Smart Contract System located on the Ethereum blockchain at the addresses set forth in Exhibit B and fully understand and accept the functions implemented therein;
- You have obtained sufficient information about OXB to make an informed decision to purchase OXB;
- You understand the restrictions and risks associated with the creation of OXB by the Smart Contract System as set forth herein, and acknowledge and assume all such risks;
- You understand, acknowledge and assume the risks associated with the purchase, holding and use of OXB in connection with the Services and Platform, as explained and disclosed in Section 5 and Exhibit C;
- You understand that OXB confer only the right to receive Services and to access the Platform, and confer no other rights of any form with respect to the Platform or Company or its corporate affiliates, including, but not limited to, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property), or other financial or legal rights;
- You are purchasing OXB solely for the purpose of receiving Services, accessing the Platform, and supporting the development, testing, deployment and operation of the Platform, being aware of the commercial risks associated with the Company and the Platform. You are not purchasing OXB for any other purposes, including, but not limited to, any investment, speculative or other financial purposes;
- Your purchase of OXB complies with applicable law and regulation in your jurisdiction, including, but not limited to, (i) legal capacity and any other applicable legal requirements in your jurisdiction for purchasing OXB, using OXB, and entering into contracts with us, (ii) any foreign exchange or regulatory restrictions applicable to such purchase, and (iii) any governmental or other consents that may need to be obtained;
- You will comply with any applicable tax obligations in your jurisdiction arising from your purchase of OXB;
- If you are purchasing OXB on behalf of any entity, you are authorized to accept these Terms on such entity’s behalf and that such entity will be responsible for breach of these Terms by you or any other employee or agent of such entity (references to “you” in these Terms refer to you and such entity, jointly);
- You are not resident or domiciled in New York State or purchasing OXB from a location in New York State;
- You are not (i) a citizen or resident of a geographic area in which access to or use of the Services is prohibited by applicable law, decree, regulation, treaty, or administrative act, (ii) a citizen or resident of, or located in, a geographic area that is subject to U.S. or other sovereign country sanctions or embargoes, or (iii) an individual, or an individual employed by or associated with an entity, identified on the U.S. Department of Commerce’s Denied Persons or Entity List, the U.S. Department of Treasury’s Specially Designated Nationals or Blocked Persons Lists, or the U.S. Department of State’s Debarred Parties List. You agree that if your country of residence or other circumstances change such that the above representations are no longer accurate, that you will immediately cease using the Services. If you are registering to use the Services on behalf of a legal entity, you further represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, and (ii) you are duly authorized by such legal entity to act on its behalf; and
- You understand and acknowledge that title to, and risk of loss of, OXB you purchase from Company and receive from the Smart Contract System passes from Company to you.
- To the fullest extent permitted by applicable law, you will indemnify, defend and hold harmless Company and our respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (the “Company Parties”) from and against all claims, demands, actions, damages, losses, costs and expenses (including attorneys’ fees) that arise from or relate to: (i) your purchase or use of OXB, (ii) your responsibilities or obligations under these Terms, (iii) your violation of these Terms, or (iv) your violation of any rights of any other person or entity.
- Company reserves the right to exercise sole control over the defense, at your expense, of any claim subject to indemnification under Section 10(a). This indemnity is in addition to, and not in lieu of, any other indemnities set forth in a written agreement between you and Company.
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE SPECIFIED IN A WRITING BY US, (A) OXB ARE SOLD ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, AND WE EXPRESSLY DISCLAIM ALL IMPLIED WARRANTIES AS TO OXB, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT; (B) WE DO NOT REPRESENT OR WARRANT THAT OXB ARE RELIABLE, CURRENT OR ERROR-FREE, MEET YOUR REQUIREMENTS, OR THAT DEFECTS IN OXB WILL BE CORRECTED; AND (C) WE CANNOT AND DO NOT REPRESENT OR WARRANT THAT OXB OR THE DELIVERY MECHANISM FOR OXB ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
Some jurisdictions do not allow the exclusion of certain warranties or disclaimer of implied terms in contracts with consumers, so some or all of the exclusions of warranties and disclaimers in this section may not apply to you.
- Limitation of Liability
(A) TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW: (I) IN NO EVENT WILL COMPANY OR ANY OF THE COMPANY PARTIES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES OF ANY KIND (INCLUDING, BUT NOT LIMITED TO, WHERE RELATED TO LOSS OF REVENUE, INCOME OR PROFITS, LOSS OF USE OR DATA, OR DAMAGES FOR BUSINESS INTERRUPTION) ARISING OUT OF OR IN ANY WAY RELATED TO THE SALE OR USE OF OXB OR OTHERWISE RELATED TO THESE TERMS, REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE); AND (II) IN NO EVENT WILL THE AGGREGATE LIABILITY OF COMPANY AND THE COMPANY PARTIES (JOINTLY), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR OTHER THEORY, ARISING OUT OF OR RELATING TO THESE TERMS OR THE USE OF OR INABILITY TO USE OXB, EXCEED THE AMOUNT YOU PAY TO US FOR OXB.
(B) THE LIMITATIONS SET FORTH IN SECTION 12(A) WILL NOT LIMIT OR EXCLUDE LIABILITY FOR THE GROSS NEGLIGENCE, FRAUD OR INTENTIONAL, WILLFUL OR RECKLESS MISCONDUCT OF COMPANY.
(C) Some jurisdictions do not allow the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the limitations of this section may not apply to you.
To the fullest extent permitted by applicable law, you release Company and the other Company Parties from responsibility, liability, claims, demands and/or damages (actual and consequential) of every kind and nature, known and unknown (including, but not limited to, claims of negligence), arising out of or related to disputes between users and the acts or omissions of third parties. You expressly waive any rights you may have under California Civil Code § 1542 as well as any other statute or common law principles that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.
- Dispute Resolution; Arbitration
PLEASE READ THE FOLLOWING SECTION CAREFULLY BECAUSE IT CONTAINS ADDITIONAL PROVISIONS APPLICABLE ONLY TO INDIVIDUALS LOCATED, RESIDENT, OR DOMICILED IN THE UNITED STATES. IF YOU ARE LOCATED, RESIDENT, OR DOMICILED IN THE UNITED STATES, THIS SECTION REQUIRES YOU TO ARBITRATE CERTAIN DISPUTES AND CLAIMS WITH COMPANY AND LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM US.
- Binding Arbitration. Except for any disputes, claims, suits, actions, causes of action, demands or proceedings (collectively, “Disputes”) in which either Party seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, including, without limitation, copyrights, trademarks, trade names, logos, trade secrets or patents, you and Company (i) waive your and Company’s respective rights to have any and all Disputes arising from or related to these Terms resolved in a court, and (ii) waive your and Company’s respective rights to a jury trial. Instead, you and Company will arbitrate Disputes through binding arbitration (which is the referral of a Dispute to one or more persons charged with reviewing the Dispute and making a final and binding determination to resolve it instead of having the Dispute decided by a judge or jury in court).
- No Class Arbitrations, Class Actions or Representative Actions. Any Dispute arising out of or related to these Terms is personal to you and Company and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which an individual attempts to resolve a Dispute as a representative of another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.
- Federal Arbitration Act. The enforceability of this Section 14 will be both substantively and procedurally governed by and construed and enforced in accordance with the Federal Arbitration Act, 9 U.S.C. § 1 et seq. (the “FAA”), to the maximum extent permitted by applicable law.
- Notice; Informal Dispute Resolution. Each Party will notify the other Party in writing of any Dispute within thirty (30) days of the date it arises, so that the Parties can attempt in good faith to resolve the Dispute informally. Notice to Company shall be sent by e-mail to Company at help@Oxford-biochron.com. Notice to you shall be by email to the then-current email address in your Account. Your notice must include (i) your name, postal address, email address and telephone number, (ii) a description in reasonable detail of the nature or basis of the Dispute, and (iii) the specific relief that you are seeking. If you and Company cannot agree how to resolve the Dispute within thirty (30) days after the date notice is received by the applicable Party, then either you or Company may, as appropriate and in accordance with this Section 14, commence an arbitration proceeding or, to the extent specifically provided for in Section 14(a), file a claim in court.
- Any arbitration will occur in Essex County New Jersey. Arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of the Judicial Arbitration and Mediation Services (“JAMS”), which are hereby incorporated by reference. The state and federal courts located in Essex County New Jersey will have exclusive jurisdiction over any appeals and the enforcement of an arbitration award. You may also litigate a Dispute in the small claims court located in the county where you reside if the Dispute meets the requirements to be heard in small claims court.
- Authority of Arbitrator. As limited by the FAA, these Terms and the applicable JAMS rules, the arbitrator will have (i) the exclusive authority and jurisdiction to make all procedural and substantive decisions regarding a Dispute, including the determination of whether a Dispute is arbitrable, and (ii) the authority to grant any remedy that would otherwise be available in court; provided, however, that the arbitrator does not have the authority to conduct a class arbitration or a representative action, which is prohibited by these Terms. The arbitrator may only conduct an individual arbitration and may not consolidate more than one individual’s claims, preside over any type of class or representative proceeding or preside over any proceeding involving more than one individual.
- Rules of JAMS. The rules of JAMS and additional information about JAMS are available on the JAMS website. By agreeing to be bound by these Terms, you either (i) acknowledge and agree that you have read and understand the rules of JAMS, or (ii) waive your opportunity to read the rules of JAMS and any claim that the rules of JAMS are unfair or should not apply for any reason.
- Severability of Dispute Resolution; Arbitration. If any term, clause or provision of this Section 14 is held invalid or unenforceable, it will be so held to the minimum extent required by law, and all other terms, clauses and provisions of this Section 14 will remain valid and enforceable. Further, the waivers set forth in Section 14(b) are severable from the other provisions of these Terms and will remain valid and enforceable, except as prohibited by applicable law.
- Governing Law and Venue
These Terms will be governed by and construed and enforced in accordance with the laws of the United Kingdom, without regard to conflict of law rules that would cause the application of the laws of any other jurisdiction. Any Dispute between the Parties arising out or relating to these Terms or its subject matter or formation (including non-contractual Disputes of claims) that is not subject to arbitration will be resolved in the courts of the United Kingdom.
If any term, clause or provision of these Terms is held unlawful, void or unenforceable, then that term, clause or provision will be severable from these Terms and will not affect the validity or enforceability of any remaining part of that term, clause or provision, or any other term, clause or provision of these Terms.
These Terms constitute the entire agreement between you and us relating to your purchase of OXB from us. We may make changes to these Terms from time to time as reasonably required to comply with applicable law or regulation. If we make changes, we will post the amended Terms at www.Oxford-biochron.com and update the “Last Updated” date above. We may also attempt to notify you through the OXB website at www.Oxford-biochron.com. The amended Terms will be effective immediately. We may assign our rights and obligations under these Terms. Our failure to exercise or enforce any right or provision of these Terms will not operate as a waiver of such right or provision. We will not be liable for any delay or failure to perform any obligation under these Terms where the delay or failure results from any cause beyond our reasonable control. Purchasing OXB from us does not create any form of partnership, joint venture or any other similar relationship between you and us. Except as otherwise provided in herein, these Terms are intended solely for the benefit of you and us and are not intended to confer third-party beneficiary rights upon any other person or entity. You agree and acknowledge that all agreements, notices, disclosures, and other communications that we provide to you, including these Terms, will be provided in electronic form.
* * * * *
Description of Company, Platform, and OXB
- Overview of Company and Affiliates
The Company is an Limited company incorporated in the United Kingdom. The company will have primary responsibility for the provision of Services and for administering the development of certain aspects of the Platform.
- Overview of Current Platform
Currently, our platform measures ads, videos banners, impressions, website clicks lead forms and credit card input forms for human and non-human interaction geo fraud and a number of other types of common fraud.
- Development of Platform with OXB Functionality and Services
The Company now intends to introduce new components into the Platform in the form of OXB and an accompanying OXB wallet (together, “OXB Functionality”). OXB is based on the Ethereum protocol and conforms to the ERC20 standard. In addition the Company is alternatively based on the Stellar platform. As a result of introducing OXB Functionality into the Platform, the Platform will integrate and consist of OXB Functionality, its Ledger system, and an ad/web measurement system. OXB will be the utility token for conducting transactions and obtaining Services on the Platform.
Currently, it is anticipated that the primary services (“Services”) to be facilitated through OXB and the Platform, as developed and made available by Company, will relate to targeted advertising.
Further details regarding the Platform are described in the Oxford BioChronometrics Whitepaper (“Whitepaper”), which is available at www.oxford-biochronometrics.com/whitepaper. The information contained in the Whitepaper and website are of descriptive nature only, and do not, unless explicitly incorporated herein, form part of the Terms.
Although Company intends to develop the Platform in the manner generally described above, it reserves the right to modify features, functionalities or development plans in its sole and absolute discretion.
Token Sale Procedures and Specifications
- Total Number of OXB to be Created and Sold
Company will create up to 500 million OXB through the Ethereum Smart Contract System and Stellar platform. 200 million (40%) OXB tokens will be available during the token sale. Before the Sale Period Begins, the Smart Contract System will create and directly release a pool of 300 million (60%) pre-allocated OXB to the Company (“Company OXB”) for certain uses as described in Section 5 of this Exhibit B. All OXB will be of equal value and functionality.
- Commencement and Duration of Token Sale
The Company’s sale of OXB will start right after the first announcement is posted to the website on May 28, 2018. The token sale will conclude on September 30, 2018. It is expected that all tokens will sell out during the duration of the token sale. Any unsold tokens will be saved for a secondary token sale or they will go into the development fund.
- OXB Price
The price of OXB will start at $0.0132 and increase after each set of 40 million tokens are sold during the token sale. There is no sale price for Company OXB, which is created by the Smart Contract System and pre-allocated to the Company before the Sale Period.
- Procedures for Buying and Receiving OXB
Buying OXB happens through the Company’s website. All users who register will agree, acknowledge, and understand the Terms & Conditions and Whitepaper by checking the boxes in the sign up form. OXB purchases happen through our integration with CoinPayments and OXB tokens are delivered automatically to buyers when CoinPayments transactions are completed. The OXB tokens are delivered to the user’s wallet that is based on our website. Users may transfer tokens to other wallets by completing a Know Your Customer (KYC) form.
- Company OXB
Of the Company OXB 300 million OXB will be used for compensating employees and contractors, and for other internal purposes in connection with the deployment and the development of the Platform as laid out in the Whitepaper.
- Use of Proceeds from OXB Token Sale
Funds that the company receives for OXB sold to purchasers during the Sale Period will be used to compensate engineers, staff and contractors, cover operating costs and marketing expenses, acquire teams and complementary technology and to address other administrative and unforeseen costs.
The following is an estimated, illustrative allocation of these budget items, which Company reserves the right to modify in its sole and absolute discretion:
- Engineering & Product (estimated 37% of proceeds).
- Marketing & Sales (estimated 18% of proceeds).
- Salaries and benefits (estimated 36% of proceeds).
- Operating & Administrative (estimated 9% of proceeds).
Certain Risks Relating to Purchase, Sale and Use of OXB
Important Note: As noted elsewhere in these Terms, the OXB are not being structured or sold as securities or any other form of investment product. Accordingly, none of the information presented in this Exhibit C is intended to form the basis for any investment decision, and no specific recommendations are intended. Company expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in this Exhibit C, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting from such information.
By purchasing, holding and using OXB, you expressly acknowledge and assume the following risks:
- Risk of Losing Access to OXB Due to Loss of Private Key(s), Custodial Error or Purchaser Error
A private key, or a combination of private keys, is necessary to control and dispose of OXB stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing OXB will result in loss of such OXB. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a digital wallet or vault service you use, may be able to misappropriate your OXB. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store OXB, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your OXB. Additionally, your failure to follow precisely the procedures set forth in Section 4 of Exhibit B for buying and receiving OXB, including, for instance, if you provide the wrong address for receiving OXB, may result in the loss of your OXB.
- Risks Associated with the Ethereum and Stellar Protocols
Because OXB and the Platform are based on the Ethereum and Stellar protocols, any malfunction, breakdown or abandonment of the Ethereum or Stellar protocol may have a material adverse effect on the Platform or OXB. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to OXB and the Platform, including the utility of OXB for obtaining Services, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum or Stellar protocol.
- Risk of Mining Attacks
As with other decentralized cryptographic tokens based on the Ethereum and Stellar protocol, OXB are susceptible to attacks by miners in the course of validating OXB transactions on the Ethereum or Stellar blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the Platform and OXB, including, but not limited to, accurate execution and recording of transactions involving OXB.
- Risk of Hacking and Security Weaknesses
Hackers or other malicious groups or organizations may attempt to interfere with the Platform or OXB in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the Platform, which could negatively affect the Platform and OXB, including OXB’s utility for obtaining Services.
- Risks Associated with Markets for OXB
Third party exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to market-related risks.
- Risk of Uninsured Losses
Unlike bank accounts or accounts at some other financial institutions, OXB 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, such as the Federal Deposit Insurance Corporation, or private insurance arranged by us, to offer recourse to you.
- Risks Associated with Uncertain Regulations and Enforcement Actions
The regulatory status of OXB and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the Platform and OXB. Regulatory actions could negatively impact the Platform and OXB in various ways, including, for purposes of illustration only, through a determination that OXB are a regulated financial instrument that require registration or licensing. Company may cease accepting OXB as payment in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to accept OXB in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to accept OXB in such jurisdiction.
- Risks Arising from Taxation
The tax characterization of OXB is uncertain. You must seek your own tax advice in connection with purchasing OXB, which may result in adverse tax consequences to you, including withholding taxes, income taxes and tax reporting requirements.
- Risk of Alternative Platforms
It is possible that alternative platforms could be established and attempt to facilitate services that are materially similar to the Services. The Platform may compete with these alternative platforms, which could negatively impact the Platform and OXB, including OXB’s utility for obtaining Services.
- Risk of Insufficient Interest in the Platform or Distributed Applications
It is possible that the Platform will not be used by a large number of individuals, companies and other entities or that there will be limited public interest in the creation and development of distributed platforms (such as the Platform) more generally. Such a lack of use or interest could negatively impact the development of the Platform and the potential utility of OXB, including its utility for obtaining Services.
- Risks Associated with the Development and Maintenance of the Platform
The Platform is still under development and may undergo significant changes over time. Although we intend for OXB and the Platform to follow the specifications set forth in Exhibit A, and will take commercially reasonable steps toward those ends, we may have to make changes to the specifications of OXB or the Platform for any number of legitimate reasons. This could create the risk that OXB or the Platform, as further developed and maintained, may not meet your expectations at the time of purchasing OXB. Furthermore, despite our good faith efforts to develop and maintain the Platform, it is still possible that the Platform will experience malfunctions or otherwise fail to be adequately developed or maintained, which may negatively impact the Platform and the potential utility of OXB, including its utility for obtaining Services.
- Risk of Dissolution of the Company
It is possible that, due to any number of reasons, including, but not limited to, an unfavorable fluctuation in the value of Ether (or other cryptographic and fiat currencies), decrease in OXB’s utility (including its utility for obtaining Services), the failure of commercial relationships, or intellectual property ownership challenges, the Platform may no longer be viable to operate, and the Company may dissolve. In the event of dissolution, liquidation or sale where the OXB token is no longer able to be accepted for use, the flowing formula shall apply for reimbursement if allowable;
RP = .10 * LP *(1/500,000,000)
- Risks Arising from Lack of Governance Rights
Because OXB confer no governance rights of any kind with respect to the Platform or Company, all decisions involving the Platform or Company will be made by Company at its sole discretion, including, but not limited to, decisions to discontinue the Platform, to sell more OXB for use in the Platform, or to sell or liquidate the Company. These decisions could adversely affect the Platform and the utility of OXB that you hold, including OXB’s utility for obtaining Services.
- Risks Associated with Business Models
The Company’s growth and adoption of the Platform may depend on our ability to maintain and expand our existing relationships with advertisers and publishers and our ability to develop new relationships with other advertisers and publishers within the Platform. As the advertising market generates and develops new concepts and technology, we may incur additional costs to implement a more effective Platform and may have to adjust to new tracking and unforeseeable technologies that could diminish the effectiveness of our technology. Continuing to develop and improve the Platform to keep up with these changes may require significant time and additional investment. If we cannot continue to develop and improve the Platform to maintain competitiveness in light of such changes, the Platform may not remain viable, which could negatively impact the utility of OXB, including OXB’s utility for obtaining Services.
- Risks Associated with New and Evolving Laws Impacting Advertising and Advertising Technology
The advertising and advertising technology ecosystems, and by extension our own Platform, are subject to a variety of federal, state and international laws and regulations, including those with respect to consumer privacy, data protection, consumer protection, content regulation, network neutrality, cyber security, data protection, intellectual property (including copyright, patent, trademark and trade secret laws), defamation, child protection, and others. These laws and regulations, and the interpretation or application of these laws and regulations, could change.
In addition, new laws or regulations affecting the Company could be enacted. As the Platform evolves, Company may be subject to new laws and the application of existing laws to us might change. These laws and regulations are frequently costly to comply with and may divert a significant portion of Company’s attention and resources. If we fail to comply with these applicable laws or regulations, we could receive negative publicity and be subject to significant liabilities which could adversely impact the Company, the Platform and OXB, including OXB’s utility for obtaining Services.
Additionally, the advertisers and publishers within the Platform are subject to industry specific laws and regulations or licensing requirements. If any of these parties fails to comply with any of these licensing requirements or other applicable laws or regulations, or if such laws and regulations or licensing requirements become more stringent or are otherwise expanded, it could adversely impact the Platform and OXB, including OXB’s utility for obtaining Services.
- Unanticipated Risks
Cryptographic tokens such as OXB are a new and untested technology. In addition to the risks included in this Exhibit C, there are other risks associated with your purchase, holding and use of OXB, including those that the Company cannot anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in this Exhibit C.