DOC.AI Token Sale

Frequently Asked Questions

General Questions

Where is the main documentation for the offering?

The main disclosure document for the offering is the private placement memorandum (“PPM”) of DOC.AI Incorporated (“DOC.AI”) which is expected to be published at tokensale.doc.ai on or about September 7, 2017. Supplementary offering documentation includes the brochure and whitepaper, as well as the announcement press release:

Where can I follow the offering progress?

Please join us in one of our communication channels:

Where should I reach out for support?

Investors from which jurisdictions will be able to participate in the offering?

The offering will be made under the exemption from registration with the United States Securities and Exchange Commission pursuant to Rule 506(c) of Regulation D. In the United States, the offering will be open to “accredited investors” (as defined in Rule 501 of Regulation D) only. Outside of the United States, the offering will be open to residents of a significant number of other jurisdictions. If you are a non-U.S. Person (as defined in Regulation S), then we strongly advise you to seek independent legal counsel to determine whether or not you would be eligible to participate in the offering.

What are the requirements for United States investors to participate in the offering?

U.S investors will need to verify their accredited investor status by providing necessary documentation. For individuals, common criteria are:

  • Income of over US $200,000 in each of the past two years, or US $300,000 with a spouse.
    — Verification can be done by providing W2 forms.
  • Assets of at least US $1,000,000, excluding primary residence.
    — Verification can be done by providing bank/brokerage statements or other documentation, such as a letter from your attorney.

For additional information on accredited investor status please see: https://www.investor.gov/additional-resources/news-alerts/alerts-bulletins/investor-bulletin-accredited-investors

Accredited investor checks will be done by third party provider verifyinvestor.com via their API built-in into our platform. For questions relating to the verification process please contact verifynvestor.com via the form at https://verifyinvestor.com/contact

What is the instrument that I will receive in the offering?

The Simple Agreement for Future Tokens (SAFT) is a legal agreement, similar to the YC SAFE. It is somewhat similar to a forward contract – the seller (DOC.AI) sells SAFTs to fund the development of the network, the seller then builds the network, and upon competition of the network, the SAFTs will convert into tokens. We chose the SAFT structure due to the nature of token pre-sales and questions about legal regulations on token network investments. This structure establishes provisions that address risks of failure.

Should I worry about keeping my purchase safe until the tokens are issued?

Since the offering is for SAFTs, not tokens or other digital assets, there is no need to worry about private keys and custody until we deliver the tokens. As we get closer to network launch, we hope to work with popular crypto asset wallets and exchanges to add support for the NRN Tokens.

How can I participate in the pre-sale?

The minimum order for the pre-sale is US $50,000, although we reserve the right to reduce this amount in our sole discretion. In order to participate in the pre-sale, it is mandatory to first pre-register by emailing us at [email protected] Only those pre-registered will be invited to participate in the pre-sale when it starts on or about September 7, 2017 at 3 pm Eastern Time.

Will there be any form of whitelisting or pre-registration for the pre-sale and crowd sale?

Yes. For the pre-sale, pre-registration is mandatory (see above). For the crowd sale, pre-registration will start at 9 am Eastern time on September 25th at https://tokensale.doc.ai and will be open for 2 days. For US investors we recommend to pre-register on September 25-26th as you will be required to submit the documentation for accredited investor check and will need to wait for the accredited investor check to be completed before you can proceed with your participation. The system will close for maintenance at 9 am Eastern time on September 27th and will re-open when the crowd sale starts on September 28th at 9 am Eastern time. When the crowd sale starts on September 28th it will only be possible to register with the Civic Technologies application (“Civic App”). It will be possible to register with email address during pre-registration on September 25-26th. Accordingly, if for some reason you are unable to use the Civic app (for example, you use Android version earlier than 6.0) please register on September 25-26th in order to be able to participate.

How will the Civic App be used for the offering?

The use of the Civic App will be mandatory for the participation in the crowd sale.

To participate in the crowd sale, please download the Civic App and register with Civic Technologies. To download the Civic App, search “Civic Secure Identity” in the App Store for iOS or on GooglePlay for Android. In case of technical problems with the Civic App, please contact Civic Technologies technical support at [email protected]. For both the iOS and Android app, you will be prompted to scan a QR code and provide your details during the crowd sale process. Please note that you do NOT need to register through Civic Technologies’ website. Such registration is currently only available to United States residents, while the Civic app is available globally.

Are there any discounts or bonuses in connection with the pre-sale or the crowd sale?

If you purchase in the pre-sale, you will receive a ten percent (10%) discount to the crowd sale price of US $0.10. There are no other discounts, bonuses, or bounties.

When will the crowd sale start?

The crowd sale is expected to start on or about September 28, 2017 at 9 am Eastern Time.

Where and how will the crowd sale take place?

On or about September 28, 2017 at 9 am Eastern Time, a widget will appear on tokensale.doc.ai when the crowd sale starts. Pre-registration for the crowd sale will start September 25th at 9am Eastern time and will last for two days. The system will close for maintenance at 9 am Eastern time on September 27th and will re-open when the crowd sale starts on September 28th at 9 am Eastern time. We recommend pre-registering in advance in order to verify your eligibility to participate in the offering and submit documentation for accredited investor verification, if applicable. We will make an announcement via our communication channels when the pre-registration is available.

How can I verify I am at the correct website?

Please do your diligence and be wary of scams. Authentic payment links for both the pre-sale and the crowd sale will always have “doc.ai” as a domain and “doc.ai Incorporated (US)” in the green section next to the website address (see below). Payment details will never be provided via Telegram or other similar channels.

SSLs

Is there a minimum or maximum purchase amount in the crowd sale?

The minimum order is expected to be relatively small, around US $50.00, although we reserve the right to reduce this amount in our sole discretion. We reserve the right to limit the maximum order size and intend to update this FAQ accordingly if that decision is made.

When will the tokens be issued to participants?

The tokens are expected to be issued around Spring 2018 when the NRN network launches. There will be no issuances of NRN Tokens before that time.

Which payment methods will be accepted?

In the crowd sale, only Bitcoin (“BTC”) and Ether (“ETH”) will be acceptable methods of payment. In the pre-sale, only BTC, ETH, and USD will be acceptable methods of payment.

What is the pricing and exchange rate mechanism?

The base price per NRN Token will be US $0.10. The pre-sale is done at ten percent (10%) discount, or US $0.09. For both the pre-sale and the crowd sale you will be asked to input the USD value of tokens you are requesting to purchase. The USD amount you select in the drop-down menu will be converted to, and payable in, BTC or ETH. In the pre-sale, it will also be possible to pay in USD via a wire transfer.

For the pre-sale, the BTC or ETH exchange rate shown at the time when the payment will be made will be indicative. The actual exchange rate used for the number of tokens calculation will be set one (1) hour prior to the start of the crowd sale (expected to be on or about 8 am Eastern Time on September 28, 2017), sourced from bitcoinaverage.com.

For the crowd sale, the initial BTC or ETH exchange rate will be set as of 9 am Eastern Time on September 28, 2017). Once the crowd sale has commenced, the BTC or ETH exchange rate will be based on the exchange rate as of the beginning of the hour in which you both fully executed and paid for the SAFT (which for the sake of clarity applies to any transaction within such hour until the final second of such hour). Such exchange rates will be sourced from bitcoinaverage.com as of such time.

How many total NRN Tokens will be available?

Through the advisor sale, pre-sale and crowd sale, there will be a total of 318.2 million NRN Tokens available for purchase.

DOC.AI is creating a total supply of 860 million NRN Tokens, of which thirty-seven percent (37%) will be available for purchase, thirty-three percent (33%) will be allocated for incentives, and thirty percent (30%) will remain in the Company’s inventory.

One-third (1/3) of the NRN Tokens in the Company’s inventory will be locked-up and unavailable for issuance or release for one (1) year following the date of the crowd sale, one-third (1/3) of the NRN Tokens in the Company’s inventory will be locked-up and unavailable for issuance or release for two (2) years following the date of the crowd sale, and one-third (1/3) of the NRN Tokens in the Company’s inventory will be locked-up and unavailable for issuance or release for three (3) years following the date of the crowd sale.

Will there be a lock-up on tokens issued on conversion of the SAFT?

No, there will be no lock-up for any of the tokens issued. However, it is important to understand that the tokens are expected to be issued around Spring 2018 when the network launches. There is no expectation for issuance of tokens ahead of that.

Will there be a lock-up on the SAFTs?

Yes. You will generally not be able to transfer or assign the SAFT.

What will I need in order to participate in the crowd sale?

You will need the following:

  1. Download the Civic App and register with Civic Technologies.
  2. If you are paying in BTC:
    • Your BTC on an exchange or in a wallet, ready to be sent to the address displayed to you via the crowd sale widget;
    • Your BTC refund address, which is your receiving address; and
    • Your ERC20 compatible wallet address (please see examples of such wallets in the Technical Questions section below).
  3. If you are paying in ETH:
    • Your ETH in an ERC20 compatible wallet (Note: sending ETH from an exchange is not advised).

How will I know if my purchase was successful?

For purchases made in BTC and ETH, we will deem a purchase to be successful when three confirmations for BTC (twelve for ETH) have been received within six (6) hours of the time that payment information is displayed to you during the crowd sale process. We reserve the right to refund your purchase if the transaction is processed after the six (6) hour period lapses. For ETH payments, setting gas at 250,000 is recommended.

Technical Questions

Which wallets can I use?

Please view the list below for compatible wallets. If you choose to purchase a SAFT with BTC, you can send BTC from an exchange but need to provide us with a token receipt address that is ERC20 compatible (see the list of ERC20 compatible wallet below). If you choose to purchase a SAFT with ETH, the ETH must be sent by an ERC-20 compatible wallet.

If I sent from an exchange, incompatible wallet or wallet, private keys of which I no longer control, can I still get my tokens?

Token distribution is expected to take place in Spring 2018. We will develop a secure mechanism for users to be able to change their token addresses ahead of the distribution. The details will be provided after the crowd sale ends. However, DOC.AI is not responsible for any delays, losses, costs, expenses, or other issues relating to or arising from the loss of your private key or any other access credentials.

Where can I purchase ETH?

There are many exchanges that sell Ethereum for fiat or cryptocurrency, these include:

  • Coinbase
  • Poloniex
  • Kraken
  • Bitstamp
  • Bitfinex
  • Bittrex
  • cex.io

Please send your purchased ETH to a compatible wallet whose private keys you own and control, before sending to the crowd sale.

Where can I purchase BTC?

There are many exchanges that sell Bitcoin for Fiat or cryptocurrency, these include:

  • Coinbase
  • Poloniex
  • Kraken
  • Bitstamp
  • Bitfinex
  • Bittrex
  • cex.io

I didn’t see an answer to my question.

Send a request to [email protected] and we will try to address your question.

Knowledge Base

ERC20 Compatible Wallets

The following wallets are known to be compatible with Ethereum tokens (ERC-20 standard) and may allow you to receive and view your balances.

Non-ERC-20 Compatible Wallets (DO NOT send ETH from these sources).

  • Any Bitcoin/Ethereum Exchange
  • Coinbase
  • Poloniex
  • Kraken
  • Bitstamp
  • Bitfinex
  • Bittrex
  • Cex.io
  • Exodus




Cautionary Note Regarding Forward-Looking Statements

Certain statements in this document constitute “forward-looking information” under applicable securities laws. Except for statements of historical fact, information contained herein constitutes forward-looking statements, including (i) the projected performance of DOC.AI; (ii) the completion of, and the use of proceeds from, the sale of the SAFTs; (iii) the expected development of DOC.AI’s business, projects, and joint ventures; (iv) the execution of DOC.AI’s vision and growth strategy, including with respect to future global growth; (v) the sources and availability of third-party financing for DOC.AI’s projects; (vi) the completion of DOC.AI’s projects that are currently underway, in development or otherwise under consideration; (vii) DOC.AI’s ability to launch a functional platform, which includes the related creation and issuance of NRN Tokens and the associated economic value thereof; (viii) renewal of DOC.AI’s current customer, supplier, and other material agreements; and (ix) the future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential purchasers of the SAFTs the opportunity to understand management’s beliefs and opinions in respect of the future. DOC.AI is an early stage company with a product in development, and an investment in SAFTs is inherently risky. These statements are not guarantees of future performance, and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained herein are based upon what management believes are reasonable assumptions, forward-looking statements may prove to be inaccurate, as actual results and future events could differ materially from those anticipated in such statements. DOC.AI undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. Forward looking statements can also be identified by words such as “can,” “expected,” “will” and other identifiers of non-historical events.


Securities Disclaimer

This document is for informational purposes only and does not constitute an offer or solicitation to sell securities. Any such offer or solicitation will be made only by means that are in compliance with applicable securities and other laws, including Rule 506(c) of Regulation D. No information or opinions presented herein are intended to form the basis for any purchase decision, and no specific recommendations are intended. Accordingly, this document does not constitute investment advice or counsel or solicitation for investment in any security. This document does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. DOC.AI 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 document, (ii) any error, omission or inaccuracy in any such information, and (iii) any action resulting therefrom.