The Foleum Token
The tokens have been distributed to maximize the number of individuals that can get involved in our Company. In doing so the tokens are distributed as such:
10% Team - These tokens are issued to members of the company for the role, position, contribution to the Company, and future members.
**5% Reserve - The Reserve is to address R&D, expansion, and backing of the dividends to which will be distributed.
3% Adivisors - These tokens are issued to our advisors for their services in providing guidance to the Company Board of Directors.
**1% Marketing - These tokens are aligned to address Company Marketing Expenses and are not taken into consideration when calculating rights to profit sharing dividends. This allows higher profit sharing capabilities.
**1% Charity - These tokens are aligned to provide funds received under the rights to profit sharing dividends to be given to Charitable Organizations.
80% STO - These tokens will be issued to investors under SEC regulations of Security Token Offerings.
**Receives funds under the rights to profit sharing dividends only.
Voting and Charity
1% of the total tokens will be aligned to an account for issuance to Charities. The tokens will receive funds under the rights to profit sharing dividends and will be issued to various charities periodically.
Voting - As a token holder you will be able to vote to which charities you would like the company to make donations to.
Charity - As a token holder you will be provided the option to elect a number of your tokens to be aligned to a charity of your choosing. At the end of the year we, the Company, will provide you a form for your taxes to file the amount of money you have given to charity.
Security Token Offering (STO)
The SEC (Securities and Exchange Commission) is the US government agency who regulates the US stock market and protects investors. They also qualify US companies to go public and sell their stock shares. All issuance of shares (Security Token) will be done in compliance to US SEC regulations. Foleum (FOL) crystals will be a SEC compliant security tokens, representing the rights to profit-sharing as dividends from the cryptocurrencies to which the company mines and the ability to vote on Foleum mining.
80% of all of the FOL crystals will be available to the public. Foleum is working on obtaining SEC Regulation A for the initial Security Token Offering, due to limit on how much can be raised within an offering, but also is to make the offer publicly available. After the initial offering Foleum will either apply for an additional SEC Regulation A offering, or apply for IPO to place the remaining tokens on an approved Security Token Exchange.
Use of Funds
In efforts to provide transparency the proceeds from the STOs (Security Token Offerings) will be allocated to purchasing the hardware, construction, and installing green energy (like the hybrid array). Additionally, funds will also be used for marketing, legal, and advisory fees until the facility is operational. Below is the break down of our funds usage:
77% for purchasing mining hardware
10% for construction of facilities
10% towards green energy.*
1% toward marketing
1% towards legal costs in obtaining SEC approved IPO and/or second Regulation A offering
1% placed as a Reserve
*Initial funds will go towards hardware and construction prior to obtaining green energy. Additional green energy will be purchased through the Company’s growth and expansion funds.