Statement of risk limitation (Risk Disclaimer)
Please read the following notice carefully before participating in the presale or sale of the NooSphereum token. This notice applies to all persons planning or assisting in the implementation of the NooSphereum project. Please note that this document may be amended or supplemented.
Presale and sale of NooSphereum token imply payment for the work on the creation of the decentralized operating system for the global economy. This task requires different teams and specialists in different countries and continents. Therefore, the implementation of the project may require the use of various legal entities in different jurisdictions to obtain financing.
At this stage, to sell the NooSphereum token, we use the infrastructure of the Waves platform ecosystem and the company specified in the contact section of the noosphereum.org website. This information may be changed or supplemented as the project develops. Due to possible changes in the used infrastructure and jurisdiction, different entities may be beneficiaries of token sales at various stages of the project. The aggregate of these legal entities and their beneficiaries will be hereinafter referred to as the “Seller”.
Buying a NooSphereum token does not constitute an exchange of cryptocurrencies or ordinary currencies for Seller’s shares or any project’s shares, and the Buyer of a NooSphereum token is not entitled to any form of dividend payment. The Buyer has only certain rights to use the system being created. NooSphereum tokens are not intended to denote securities in any existing or future jurisdiction of the project and related organizations.
WP is not a prospectus or offer document and does not constitute an offer of securities or an invitation to invest in securities in any jurisdiction. The content of WP is a scientific basis for the project and does not constitute commercial advertising of financial or investment services. Therefore, none of WP’s materials should be considered as an invitation or inducement to participate in any investment activity. NooSphereum tokens are not intended to denote securities in any existing or future jurisdiction of the project and related entities.
The information on the Website and WP provided for information purposes only. The contents of WP do not constitute commercial advertising. Therefore, none of the materials of the WP should be regarded as an invitation or inducement to participate in any investment activity.
The section “Risk Disclosure” does not describe in detail all of the potential risks that you should consider. We insist that you seek independent financial and legal advice before engaging in any activity.
No regulatory body considered or approved any information contained in WP. Such actions have not been and will not be taken by the laws, regulations or rules of any jurisdiction. The purpose of our project is not to create an organization and related property issues, but to create an autonomous decentralized operating system for the world economy.
Publication, distribution or distribution of WP does not mean that the applicable laws of any jurisdiction, rules or regulations will be strictly enforced. Especially in a context where legislation on cryptocurrency global projects can change rapidly. To the maximum extent permitted by applicable laws, regulations and rules, the Seller, its affiliates and their officers, employees or agents associated with the NooSphereum website (https://noosphereum.org), NooSphereum tokens, and NooSphereum’s products and services are not liable for any damages of any kind, including, but not limited to, direct, indirect, incidental, special, or consequential damages (including, but not limited to, damages for loss of advertising, loss of revenue, or use of NooSphereum’s products by a third party, whether or not caused by such damages).
For the avoidance of doubt, Seller expressly disclaims any liability for any direct or indirect damages or any type of damages resulting directly or indirectly from: (1) reasonable or unreasonable reliance on any information contained herein, (2) any errors, omissions, or inaccuracies in any such information, (3) any actions that result in, or (4) the use or purchase of NooSphereum products and services available on the Website and other electronic platforms.
You acknowledge and warrant that you do not purchase NooSphereum tokens for investment, speculation, immediate resale or other financial purposes. Some of WP’s statements include forward-looking statements that reflect Seller’s current views on the future, roadmap, financial results, business strategy and project plans, both with respect to Seller and the sectors and industries in which it operates.
Statements including the words “expects,” “plans,” “believes,” “anticipates,” “will,” “intends,” “may,” “would like,” “may,” “will,” and similar statements are forward-looking which involve risks and uncertainties. Accordingly, there are or will be, material factors that could cause unpredictable differences between the actual results of Sellers and those contained in these statements. These reasons include, but are not limited to, the reasons described on the Site and in other documents that must be read before purchasing NooSphereum tokens.
Any forward-looking statements made at WP and on the Site reflect Seller’s current views on the future and are subject to many risks, uncertainties and assumptions related to Seller’s business, organization, performance and actual development strategy. These forward-looking statements are only valid as of the date of publication of WP, may change and may be subject to reasonable or erroneous beliefs of the Seller. Before making a purchase decision, the Buyer shall separately consider the factors identified in WP that may lead to discrepancies in the actual results and assess the objectivity of the Seller’s wording and conclusions and adjust them in terms of its thinking, information and beliefs. No statement at WP is intended as a projection, and no statement at WP should be construed as implying that Seller’s revenues and any other parameters for the current or future years will be such as the WP may suggest.
There are many different risks associated with global projects, cryptocurrency and other industries. In particular, the main risk of loss of investment is related to the sale of tokens, which is the only economically viable method currently available and allows to record investments in a given project securely. Tokens can be built on different technologies and can be used in various simple and complex ways.
There is no single standard definition of the term “token” or “ICO (IEO)”. For example, some tokens or coins do not have centralized control and exist based on their own continuously changing blockchain. Other tokens work based on already existing blockchains and therefore depend on them. New usage models, economic models, technologies and business practices are quickly invented and changing, which is a risk in itself. We insist that you bear in mind the following specific risks before taking part in any cryptographic or blockchain project found on our Website or elsewhere.
1. New Technologies: Blockchain technology is relatively new and involves internal risks. The situation can be even riskier if token issuers experiment with the protocols and algorithms behind them. Such experiments can lead to technological failures that could jeopardize your investment in the project.
2. Abandoned project: There is also a risk that some cryptographic projects may be abandoned by their authors which can happen for many reasons, including, but not limited to: lack of public interest or developer interest, adverse regulation, technological failures, or lack of funding. If a project is abandoned, the tokens associated with it often become illiquid or devoid of any real value.
3. Hacking: While the likelihood of hacking any blockchain is extremely low, there is a likelihood of hacking at levels unrelated to the blockchain itself. For example, all applications, such as wallets, browsers, websites or programs, are attractive targets for hackers. Such hacking often results in a significant loss of funds for both the token issuer (Seller) and the Buyer. Please keep in mind that many blockchain projects are not insured and cannot be insured, which can lead to a loss of your tokenized funds if you become a victim of hacking.
4. Fraud: Cryptographic space remains mostly unregulated, allowing to launch illegal fundraising campaigns for projects that have never been planned to be implemented and delivered. In such cases, buyers often lose 100% of their contribution. It is essential to conduct a thorough legal examination of each project. Please keep in mind that it is often not enough to look at the profiles listed on the project’s Website, as some fraudsters use fake ID cards, fake social profiles and lists of counterfeit work histories and business experience. In some cases, the scammers are framing the real people who were not associated with their project.
5. Absence of auditable third-party audits: The sale of tokens is not a sale of securities. It is therefore not subject to the strict standards of examination and verification by third-party.
6.Mining attacks: Blockchain projects are characterized by a higher level of risk at an early stage. Blockchain protocols use algorithms that help protect the network. While these algorithms have proven to be mostly safe, there is a risk associated with projects at an early stage when there is no balanced distribution of miners that support the network. In such cases, the project may encounter unscrupulous miners who intend to attack and negate the value of the platform or network.
7. Extreme volatility: The cost of a token may reflect the progress of a project, but it is likely to depend on fluctuations in public interest in the project. Therefore, the price of tokens used to raise funds may also fluctuate, which in some cases may mean that the token issuer may not have enough funds to complete the project.
8. Failure of the main third-party protocol: Many cryptographic projects carry out their project on top of existing blockchains. Until the main network launch, our project is the same. Typical main networks are Bitcoin, Ethereum, Waves. Therefore, many cryptographic projects depend on the correct functioning of the underlying blockchains. Problems such as outages, system failures, project abandonment, or new technologies such as quantum computing can create new risks for these blockchains, and thus for blockchain projects.
9. Accidental loss of tokens: There is a possibility of losing the entire token balance due to many different factors. For example, if you do not follow the exact instructions for selling and buying tokens, including providing the correct and compatible recipient address, you may lose your tokens. Another way to lose tokens is not to write down a password, secret key or passphrase. Typically, failure to comply with strict rules leads to the complete loss of all tokens. In most of these cases, tokens will be lost forever without the ability ever to restore them.
10. Internal team failure: The token issuer may take full control of the project implementation. But then a lot can depend on the quality of project management and the qualification of the team. This is the risk that the administration will not be able to manage the business properly, and the project will not be successful.
11. Regulatory risk: There is a risk that a cryptographic project will not meet the regulatory requirements for a particular case of use and technology, or new laws or regulations may conflict with their ongoing operation within the project. It is also good to understand that there are significant changes in standards and regulations in different jurisdictions. It is crucial to study, understand and continually update your knowledge of the rapidly changing legal framework related to blockchain technology and token sales in your jurisdiction. Please bear this in mind when deciding to participate in our project.
12. No legal claims: There is a risk that there will be no reasonable remedy in the event of a dispute. Token buyers may find it difficult or expensive to assert their legal rights. Due to the international nature of the Internet and the fact that token buyers may face high costs or difficulties in any litigation with token issuers in their jurisdiction. This is why international, and especially cryptographic, projects identify the risks in their terms and conditions. This can make it challenging to find a remedy acceptable to the Buyer. Please bear in mind that our project aims to maximize the effectiveness of the use of funds to create a decentralized operating system for the economy. This is R&D and practical task, and we are the least willing to deal with various legal disputes.