8. Disclaimers

This white paper outlines the key concepts of Initial Token Offering (AUC ITO). The company, (the "AUC") which is launching an ITO, is incorporating a corporation in the Republic of Singapore.
General disclaimers
The AUC token is not a securities or unit of a collective investment organization, business trust, mutual fund or capital market product under the Securities and Futures Act of the Republic of Singapore (SFA) (paragraph 289). Therefore, SFA does not apply to the offer and sale of AUC tokens. To avoid any doubt, the ITO of the AUC token does not require an investment manual or an overview, nor does it need to submit an investment manual or an overview to the Singapore Monetary Authority ("MAS") or other government agencies in Singapore. The AUC token is not intended for speculation and has no right to any form of property, intellectual property, other property or cash. The AUC token is not a stock because it does not give ownership to AUC. Possessing an AUC token does not give you the right to participate in the decision-making process in AUC's assets and/or business plans. There is no commitment to value or rights based on separate AUC token revenue other than the benefits of using the platform. The purchase of AUC tokens is only permitted to those who are not in any regulated or prohibited area (hereinafter "prohibited area") to provide tokens in the manner specified in the United States, China, Samoa, and this White Paper. AUC token cannot be purchased if you are a citizen of a prohibited area or a resident (tax payers or others).
This white paper does not recommend offering tokens or purchasing AUC tokens in jurisdiction where token sales may be illegal. Regulators in Singapore, including MAS, have not notified, reviewed or approved the AUC token or this white paper. This white paper and/or part of it may not be distributed in any area where the provision of tokens is regulated or prohibited in the manner specified in this white paper.
The information contained in this white paper is based on the date specified on the cover page. Information prepared in this white paper, including information on AUC's business operations and financial status, may be changed from time to time. AUC does not make or assert any guarantee (both expressed or implied) that the information contained in this white paper is latest, accurate and complete, and expressly denies it.
This white paper may contain information from third party sources and/or the contents of publications.
All information and data reproduced in this paper are considered to be from reliable sources, but AUC does not separately verify such information or data and makes no guarantee on the accuracy or completeness of that information or data.
Neither professional nor partial excerpts may be considered advice on legal, monetary, tax, or other professional provisions. You should receive specialized advice on your decision to purchase an AUC token. We would like to inform you that you are solely responsible for all possible evaluations and decisions when deciding whether to purchase the AUC token. You may request additional information from AUC regarding the ITO of the AUC token. Distributor provides additional information, including (i) discretionary but not legally enforced, (ii) whether requested information helps readers to be more clear about what is stated in this white paper, whether it helps to seek expert advice, or whether readers purchase tokens.
Please be advised that this white paper is intended for information delivery and does not describe future prospects. AUC states that it is not responsible for any loss or damage (direct/indirect, foreseeable, or otherwise) caused by acting or relying on any information related to AUC, or on the AUC ecosystem contained in this white paper, or additional information inquired by another reader.
The reproduction of this white paper, except for this warning and notice, is strictly prohibited and is not permitted by AUC. The information specified below may not be complete. No part of this white paper forms a legal relationship between the recipient of this white paper and AUC, and the recipient of this white paper is legally bound or legally bound to the distributor.
An updated version of this white paper will be published later and published by AUC.
Within Singapore, regulation of tokens such as AUC tokens is still in its infancy. As a result, there is high uncertainty about how digital currency, token, and token-related activities will be handled in accordance with relevant laws and regulations. The applicable legal and regulatory frameworks are subject to change after the date of publication of this white paper. Changes in the application of these regulations can be very rapid, and the extent and nature of such changes is unpredictable. AUC does not guarantee or specify that the AUC token will remain unaffected by any future regulations and is not responsible for it.
In purchasing an AUC token, you are deemed to have fully reviewed the white paper and also to have agreed to the terms and conditions of the AUC token. This includes that this ITO is not within the scope of all securities laws in Singapore and is not regulated or inspected by MAS. You expressly acknowledge and agree that the AUC token is not a security and does not generate any form of return on investment.
AUC tokens and associated services are intended to be used for the purposes specified in the white paper and are provided by AUC. AUC does not warrant or indicate (both expressed and implied) the accessibility, quality, suitability, accuracy, adequacy or completeness of the AUC token and associated services, and expressly denies it. As a result, AUC relies on the AUC token and associated services to explicitly deny any liability that may arise from errors, delays or omissions in any action you take. There is no guarantee in all respects, including warranty, name, merchantability, satisfactory quality, or suitability for a particular purpose, regarding the AUC token and associated services provided by AUC.
We cannot guarantee the future performance and value of the AUC token. This includes the intrinsic value of the AUC token and the guarantee that it will have any value in the future. Unless you fully understand and accept the full extent of AUC's business plan and the potential risks of the AUC token, you should not participate in the sale of the AUC token. The AUC token was developed for the future function of the AUC ecosystem. AUC expressly disclaims any liability for any loss you may incur in connection with the purchase of an AUC token.
You are not obligated to make any agreement or binding legal commitments regarding the sale and purchase of the AUC token. A separate document describing the terms and conditions of the agreement (hereinafter referred to as "contractual terms") applies to the agreement between AUC and you as a buyer and to the sale and purchase of the AUC token. If the terms of the contract do not match the contents of this white paper, the former takes precedence.
Risk factors
  • Purchase of Tokens The purchase of an AUC token should be made only by financial experts who are fully aware of and assess the benefits and risks of the purchase, or by those who can bear the loss of the entire amount spent on the purchase of the AUC token.
  • No pre-market Before ITO, there was no open market for AUC tokens. There is no guarantee that AUC token will be developed or that AUC token will be traded on cryptocurrency exchanges after the development is completed.
  • Platforms that have not developed yet The value and demand of the AUC token depends largely on the performance and commercial success of the AUC platform/service. AUC has no guarantee of commercial success for AUC platforms/services. Additionally, AUC platforms/services have not been fully developed, finalized and integrated, and there may be additional changes, modifications, updates and adjustments [before release]. These changes can have unpredictable consequences for users, which can affect success.
  • Risk related to uncertain losses The AUC token is not protected unless you obtain personal insurance as a means of protection about the AUC token. Therefore, if there is a loss of the token itself or the utility value of the token, there will be no separate public or private insurance for AUC to act on the buyer.
  • Tax-related risks The tax characteristics of the AUC token are unclear. Therefore, the detergent to which the token will be targeted is also uncertain. Everyone who wants to purchase an AUC token must find a private accountant who can handle the relevant issues before deciding whether to purchase the AUC token. AUC does not make any statements about whether taxes can be incurred by purchasing or holding an AUC token.
  • Regulatory risk for unregulated businesses Currently, AUC and its affiliates are not regulated and are not supervised by the relevant agencies in Singapore. Specifically, AUC is not registered as a financial institution or type of financial advisor regulated by MAS and is not subject to the criteria imposed on the person under Singapore's SFA, Financial Advisory Act (paragraph 110) and other regulatory instruments. Factors subject to such regulations include compliance with various requirements and criteria related to disclosure of information, compliance with reporting, and maximizing operational or investor protection for a particular purpose. Since AUC is not subject to those requirements or criteria, it will take reasonable action on these issues based on its own decisions. While AUC will try to adopt best practices for these issues, AUC token holders cannot fulfill the same level of protection granted to regulated business investors.
  • Risk due to Ethereum protocol Due to the nature of the AUC token and the AUC platform/service based on the Ethereum protocol, malfunction, failure, shutdown, or disposal of the Ethereum protocol can have a significant adverse effect on the AUC token and AUC platform/service. Advances in cryptographic technology or related technological advances, such as quantum computing development, can become potential risks to AUC tokens and AUC platforms/services. This includes the usefulness of tokens for service acquisition, rendering inefficiency of cryptographic matching mechanisms that support Ethereum protocols, and more than this may exist.
  • Risk due to third parties AUC token is an asset based on blockchain technology. The security, mobility, storage, and connectivity of these blockchain assets are based on elements such as the security, reliability, and suitability of the underlying blockchain protocols and processes. (In this case, the Ethereum blockchain is out of AUC's control.)
Unexpected events may occur, such as mining attacks, hacking, and unauthorized access to the private key of the wallet where the AUC token is stored. AUC cannot guarantee to prevent these external factors from directly or indirectly adversely affecting the AUC token.
Furthermore, third-party risk factors include misconduct, fraud and failure to receive AUC tokens when paying tokens because third-party wallets are incompatible with AUC tokens. All consequential losses cannot be reversed. AUC is not responsible for any risk from third-party intervention and cannot take action to recover the lost AUC token in this way.
Anti-money laundering / Anti-terrorism policy
As part of AUC's responsibility in relation to policies to prevent money laundering and terrorist financing (the "AML-CFT"), detailed identification of anyone who intends to own or use the AUC token as a payment method is mandatory. Depending on the circumstances of each application, Token AUC may request additional information or documentation from the applicant from time to time.
AUC promises to comply with all applicable laws and regulations that may apply to the business in connection with AML-CFT obligations. AUC reserves all rights to exclude from the initial token purchase or any person who refuses to provide the appropriate information or documentation that AUC may request in the process of purchasing additional AUC tokens. In addition, AUC has an obligation to report to the Department of Commerce's Financial Intelligence Institute on all suspicious transactions and has the right to prohibit the handling or provision of financial services to designated individuals and corporations. In this case, AUC has every right to deny all service and AUC token transactions. AUC is subject to Singapore's Terrorism (Funding Prevention) Bill (paragraph 325).
Last modified 3d ago