LEGAL CONSIDERATIONS, RISKS AND DISCLAMIER.
You must read carefully , understand and agree to the following “All legal Considerations , Risks and Disclaimer” section before you participate in the ;
(i) downloading the FOOOZ TOKEN White Paper , joining the bounty or affiliate program and any and all information available on the website(s) of FOOOZ CRYPTOCURRENCY AND ALTCOIN EXCHAGE Ltd (the “ company”) located at www.foooz.com (the “Website”); and/or (ii) participating in the company’s token sale outlined in this White Paper (the “Token Sale”). This “Legal Considerations, Risks and Disclaimer” section applies to this White Paper and any and all information available on the FOOOZ Website and all the media released related to the company and the FOOOZ token. The contents of this “Legal Considerations, Risks and Disclaimer” outlines the terms and conditions applicable to you in connection with;
(i) your use of this White Paper and of any and all information available on the Website; and/or media release and marketing materials related to the company , the initial coin offering and the token.
(ii) your participation in the Token Sale, affiliate , bounty program and in such an event of addition and or editing to any other terms and conditions published in the website or White Paper, the Website and the Token Sale (such terms hereinafter referred to as the “Terms”). This “Legal Considerations, Regulations, Risks and Disclaimer” sections could be updated from time to time and published as an update version of the previous release of the White Paper which shall be available on the www.foooz.com . You shall be obliged to check the latest available version of the White Paper prior to participating in the Token Sale, in the event of not keeping your information updated the company cannot hold responsible for your shortage of knowledge about the company activities and new published data.
The information set forth in this “Legal CONISDERATIONS, RISKS and DISCLAMIER” section may not be exhaustive and does not imply any elements of a contractual relationship. We make every reasonable effort to ensure that all information: (i) in this White Paper; and (ii) available on the Website (all the information in the White Paper and all information available on the Website hereinafter referred to as the “Available Information”) is accurate and up to date, such material in no way constitutes a professional analysis or assistance from the company to participants in the token sale. The company doesn’t guarantees nor accepts responsibility for the accuracy, reliability, current state (as of this White Paper) or completeness of the Available Information. Individuals intending to participate in the Token Sale . You should seek an independent professional advice prior and not to use Available Information on www.foooz.com as a solo available information source to make a decision of participation in FOOOZ TOKEN ICO sale event(s).
LEGAL CONISDERATIONS AND DISCLAIMER
The company has approached the Token Sale in an innovative and practical manner. Given the undefined situation of distributed ledger technologies, businesses and activities as well as different coins and cryptocurrency-related businesses and activities, the company has spent a significant amount of time and resources to consider its business approach and where it proposes to operate now and in the future. The company has worked with many providers and freelancers To review the business model –the Legal considerations which relate to the FOOOZ TOKEN sale event and TOKEN distribution to others, and which Legal considerations come into effect on 31st of March 2018. The FOOOZ company will look to comply with all UK legal considerations and regulations and other jurisdictions that it is required to allow FOOOZ TOKEN to operate in its jurisdiction in mining activities and allocating mining equipment after the end of the token sale. However, due to the current uncertainty state of regulation across the globe, the company cannot guarantee the legality of the company’s business platform and/or its ability to operate in the future in every corner of the world , but the company will strive to be responsive and compliant in the face of any regulatory inquiry.
The FOOOZ TOKEN is designed for the company’s activities in mining and trading different cryptocurrencies. The Tokens are not securities and can’t be considered as a one. In the event that you purchase FOOOZ TOKEN, the sale is final and when performing an act of purchase and mark the agree to terms of service box , you understand that agreed that you agree to the nature of the transaction and agree that is considered acceptable digital signature of the terms of the service and disclaimer and give all your rights to claim loss of liability against the company , and the FOOOZ token and all the affiliated companies and the service providers and the current company representatives , team , employee , associates , in current in the futire. And the act of purchase is final purchase and no refunds or exchange can be accepted.
The company does not endorse individuals or corporate identities purchasing FOOOZ tokens for speculative investment purposes. And by purchasing FOOOZ token, you don’t become entitled to any equity, governance, voting rights or similar right or entitlement in the company or in any of its affiliated companies, or providers or service suppliers. Tokens are sold as it is in digital formats, similar to downloadable software; digital products and such like doesn’t not require physical shipping to buyer physical address. The company recommends not to purchase FOOOZ TOKEN unless you have enough prior experience with cryptographic tokens, cryptocurrency, blockchain-based technology and aware of its volatile nature and possible errors of distributed ledger technology and unless you have taken careful independent professional advice the company advice not to purchase without careful consideration and enough understanding to the nature of the cryptocurrency market nature and different regulations to its nature and technology involved in its trades and storage and not only to that limit but to all other related aspects.
Citizens, nationals, residents (tax or otherwise) and/or green card holders of each of the following regions: (i) the United States of America; (ii) Singapore; (iii) South Korea; (iv) the People’s Republic of China; or (v) any other jurisdiction which prohibits the possession, dissemination or communication of the Available Information and/or ban participation in the Token Sale or the purchase of Tokens or any such similar activity (collectively the “Restricted Jurisdictions”) or any other Restricted Persons or corporate identities are not permitted to participate in the Token Sale. The term “Restricted Persons” refers to any individual, firm, company, partnership, trust, corporation, entity, government, non-governmental organization , state or agency of a state (whether or not having identifies legal personality) that is established or under establishment or expired and/or lawfully existing under the laws of a Restricted Jurisdiction (including in the case of United States of America, under the federal laws of the United States of America or under the laws of any of its States). The company FOOOZ and (the FOOOZ Token) are not intended to create, and will not create a securities in any jurisdiction. The company does not encourage or provide any opinion or any advice to purchase, sell, the FOOOZ token. The presentation, publication or media communication of all or any part of the Available Information shall not form the basis of, or be relied upon it in any decision to your investment decision. You are responsible for informing yourself in respect of the same and for observing any such changes in restrictions which are applicable to your legal situation before the use of all or any part of the Available Information at your own expense and without liability to the company.
No part of the Available Information, media release, and publication should be considered to be business, legal, and financial or tax advice regarding the company and its related activates, the token sale, the Token trade or the company activities. You should consult your own personnel legal, financial, tax or other professional advisors about the available Information. You should be aware that you are required to carry the financial risk of any purchase of FOOOZ tokens if you perform the act of purchase against the advice you receive to not to participate or perform the act of purchase in the token sale against the advice of your advisors.
NO REPRESENTATION & WARRANTIES
The company does not make promise or guarantee to the accuracy and completeness of any of the information set out in the public available Information on the site. And hereby disclaims, any representation, warranty or undertaking in any form whatsoever to any entity or person, including any representation, warranty of loss, promise to gain profit.
RISKS RELATING TO PARTICIPATION IN THE TOKEN SALE AND COMPANY ACTIVITIES
The FOOOZ tokens did not exist before, and the FOOOZ token sale may not result in an active or liquid market for the tokens. And before the token sale, there has been no public market for the tokens nor trades on the token. Although the company will use reasonable endeavors to seek the listing and approval for availability to trade of the tokens on different cryptocurrency exchanges or markets, there is no assurance that such approval will be succeed. Furthermore, even if such approval is granted by cryptocurrency platforms, there is no assurance and/or guarantee for an active demand on the token in the market or the market will develop a liquid trading market for the Tokens, and there is also no guarantee that the market price of the Tokens will not decline below the original (the “Initial coin offer price”) or a certain value of the token will be worth in the market neither in the present or/and in the future trades.
The company may not be able to pay any anticipated rewards in the future. And there is no assurance that there will be sufficient profit in in the company’s business platform such that you will receive any rewards anticipated to be distributed to token holders from the company’s business activities. Further, even in the event there is substantial engagement and interactions among the users of the company’s business platform, there is no assurance you personally will receive any part of the rewards. This is because the ability of the company to pay any reward to you will depend on the future results of the cryptocurrency and operations costs and the size of future business and financial condition of the company, market index price of the cryptocurrency, the cost of the mining activities and governmental regulations, and there is no assurance of the future results of operations and the success of the future business and financial condition or restrictions to the company regulations or continuing its activities.
There is no assurance of any success of the company’s business model or any future Token functionality and value. The value of, and demand for, the tokens depends heavily on the performance of the cryptocurrency market and the price index of the cryptocurrency, different cost of resources mining rely on such as equipment price , technical supports , labor , allocation service charges , the equipment upgrades , the electricity price and all other used resources the mining activities and the cost of the mining relay on in addition to the market index of the coins mined by the company.
The company may in the future be develop its location and data centers facilities n addition to the third parties facilities , the company’s future infrastructure mining farms may be established in whole or in part through third parties, and/or If the company is unable to renew its mining facilities leases , the company may be required to transfer its equipment to a new locations, and may incur significant costs and possible service break in connection with the relocation. These facilities are also vulnerable to damage or interruption from, among others, natural disasters, damage for different reasons, terrorist attacks, power losses, and telecommunication failures.
Further more additionally, the third-party providers of such service of building mining farms may suffer a breach of security as a result of third-party action, employee error, and malfunction or, and a third party may provide an un-authorized access to the mining facilities and in in such case . The company and the providers of such facilities may be unable to anticipate these techniques or to implement adequate preventive measures till the situation is discovered and the company shall take an adequate measure to stop such preach of the service immediately.
General global market and economic conditions may have unfavorable conditions that impact on the company’s operating performance and production, results of negative operations and/or cash flows.
The company or the Tokens may be affected by newly implemented legal regulations by different authorities , distributed ledger technologies, other businesses and new technologies that replace the cryptocurrency and activities as well as cryptocurrencies and cryptocurrency-related businesses , and governmental regulations and entities and authorities across different jurisdictions that have been considering the implementation of regulations which govern distributed ledger technologies, businesses and activities as well as coins and cryptocurrency-related businesses and activities. The company or the tokens may be affected by newly implemented regulations and laws that can be imposed in cryptocurrency-related activities.
Such regulations, or having to deal with inquiries, fees, notices, requests or enforcement actions by regulatory authorities, which may come at a substantial cost and may also require substantial modifications to the company’s business model or anticipated plans and token functionality.
LIMITATION OF LIABILITY
In no such no event shall the company or any current or future former employees, officers, directors, partners, trustees, representative, agents, advisors, contractors, freelancers , advisors , providers or volunteers of the company (hereinafter the “company Representatives”) be liable for:
(i) any loss of profits, lost savings or assets or incidental, direct or indirect, special or consequential damages, arising out of your un-wise decision to purchase FOOOZ token or to use or inability to use the services or products or Tokens offered by the company or the breach of any of these Terms by you or by any third party;
(ii) any security risk such as technology bugs , hackers attacks, loss of password, loss of private key, or similar; mistakes or errors in source code, text, or images involved in the Token Sale or in any of the Available Information; or
(iv) any data contained in the website or the white paper on or any expectation promise
representation or warranty arising (or purportedly arising) therefor;
(v) any losses resulting from the volatility in pricing of cryptocurrency or its regulations in the market or the FOOOZ token restrictions in any events or countries and on any exchange or market (regulated or unregulated, primary transaction or secondary or otherwise);
(vi) any losses or damages arising out of or in connection with the purchase, use, sale; or
(vii) ascending from your failure to properly save the private key of the wallet containing FOOOZ Tokens,(collectively, the “Excluded Liability Matters”).
The Available Information (including the all materials in the Website and the White Paper) and the Tokens are provided on an “as is” basis and without any warranties or guarantee of profit of any kind of positive financial returns, either expressed or implied. You assume all responsibility and risky situation of investing in cryptocurrency generally and FOOOZ token in especial with respect to your use of the website Information and purchasing of any amount of FOOOZ tokens and their use. If applicable law does not allow all or any part of the above limitation of liability to apply to you, the limitations will apply to you only to the maximum extent of $200 and by precipitating in the FOOOZ token you willingly agree to that term now and on the future .
To the maximum extent permitted by applicable law, you hereby and with your willing and irrevocably and unconditionally agree to waive now and in all events in the future any claim against the company or/ and all company representative/s then you hereby irrevocably and unconditionally undertake to indemnify, and keep indemnified the company and all its representative/s fully on demand from and against:
(a) all liabilities or losses suffered by the company or any company Representative/s; and
(b) all reasonable costs, charges and reasonable expenses (including without limitation reasonable legal costs and expenses) reasonably and properly incurred by the company or any company representative, in each case by reason of or in connection with the bringing or commencement of such action or pursuit of such claim by you or by your legal representatives or any party in you name.
If any provision or part-provision of this “legal considerations, risks and disclaimer” section is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this “Legal considerations, risks and disclaimer” section shall not affect the validity and enforceability of the rest of this “legal considerations, risks and disclaimer” section.
TERMS OF SALES
- you are over 18 (eighteen) years of age;
- you agree and acknowledge that the tokens do not constitute securities in any form in any jurisdiction;
- you agree and acknowledge that no regulatory authority has examined or approved of the available Information, no regulatory requirements or rules have been complied with;
- the available information is not prohibited or restricted to participate by your local applicable laws, regulations or rules in your jurisdiction, and where any restrictions in relation to the company business activities , you have observed and complied with all such restrictions at your own expense and without liability to the Company;
- ) you agree and acknowledge that in the case where you wish to purchase any Tokens, the Tokens are not to be construed, interpreted, classified or treated as:
currency , commodity , debentures, stocks , shares by the Company or any other third entity in business arrangement with the company such as but not limited to cryptocurrency trading platforms or cryptocurrency storage or banking facilities.
(iii) You are not entitled to vote or request shares, stocks in the company or derivatives in respect of such debentures, stocks or shares;
(iv) you don’t have any rights to claim loss of profits in the present or in the future or to claim a compensation for damages in result of your decision to participate in the token sale.
(v) units in a collective investment system;
(vi) Units in the token locked collateral wallet
(vii) future derivatives development ;
(viii) you are fully aware of and understand that you are eligible to purchase FOOOZ tokens or access the available Information
(i) you have a good understanding to the nature, usage, storage, transmission of cryptocurrencies, blockchain based software systems, cryptocurrency wallets or other related token storage mechanisms, blockchain technology and ERC20 smart contract technology;
(j) you are fully aware and understand that in the case where you wish to purchase any Tokens, there are risks associated with:
(A) the company and its business model and operations;
(B) the different regulation that may reflect in the business model;
(C) the Token Sale; and
(D) you are not relying on available Information to perform the act of purchase;
(F ) you understand that the available Information are not statements of historical records, rather than to create “forward looking statements”. This future looking statement does not guarantee any future earnings or profitability when participating in the ICO sale of FOOOZ token.
(G) All statements regarding the company’s financial position, business strategies, plans and prospects and the future predictions of the company and the token performance are forward-looking statements . These forward looking vision , including but not limited to public information , white paper , illustrations represent future thinking and anticipated statements of revenue profitability and expected token growth, and expected revenue distribution, future pre-set sale plans, other expected industry trends and cryptocurrency market index and mining difficulties and amount of erupted coins and amount of collected coins in the collateral wallet/s and other succeeds factors and other matters discussed in the white paper and in the website or the public media , available Information in the newsletter , public media , press release regarding the company and the FOOOZ token are matters that are not historic facts or a solid future fact that you can claim as a ground to use for any claim of loss, rather than an only estimations and predictions and hope from the market to be favorable to help execute the forward thinking plans of the company and the FOOOZ token.
(H) The company makes no representation or warranty on having made any accurate predictions or estimates or expectations on the basis of any formula, any mathematical or scientific modeling or market forecasting, or having made any due and proper enquiries or having undertaken any independent research or studies and used the public information from different sources to build its business model and the company has no access to a non-public information that relied on while structuring its business model and the FOOOZ token.
(I) These forward-looking statements involve known risks and unknown risks, uncertainties and other factors that may cause the actual future results, performance or achievements of the FOOOZ token and the company performance to be many different factor. These factors include, beside others to
(i) changes in political, social, economy , stock or cryptocurrency market conditions, interest rates, cryptocurrency regulation , natural disasters, environment change, political stabilities in the countries in which the company will conducts its business and mining operations;
(ii) the risk that the Company may be unable or execute or implement its business strategies and future plans; such as but not limited to the anticipated cryptocurrency growth rates, fees paid by the company for consultants , freelancers, service providers , maintenance of equipment , allocation service of mining equipment , going out of business equipment providers , catastrophic events, terrorism and acts of God that affect the business in the company or the service providers and/or the operations of the company that may cause the actual future results, performance or achievements of the company in general and in relation of the FOOOZ token in specific.
(iii) Neither The company nor the company representatives nor any other prospect service provider or partner or affiliated person represents, warrants and/or undertakes that the actual future results, performance or achievements of the FOOOZ token will be responsible about the result nor have any responsibilities and cannot be hold responsible about any losses or liabilities losses raised in such event the FOOOZ token does not perform as hoped to perform.
(K) Further, the company reserves the rights to revoke / update any of its vision and future predictions statements and/or the publicly announced press release to reflect any future presented factors that affects its business model developments, events or circumstances, in the event if new information becomes available or other un-avoidable events occur in the future.