Wyoming based AW Blockchain Mining Files Reg A+ Offering

AW Blockchain Mining has filed a Form 1-A with the Securities and Exchange Commission (SEC) indicating its intent to launch a security token offering (STO) seeking a max raise of $50 million. The Reg A+ Offering Circular states that the company seeks to issue 50,000,000 shares of “TCM Coin Series of Preferred Stock.”

As the name implies, the company expects to focus on crypto mining. The Company’s mining operations currently operate under the name “Team Crypto”.

According to the filing, on December 31, 2018, the Company acquired its initial 19 GPUs for its mining operations. The mining rigs can be reprogramed to mine: Ethereum, Ethereum Cash, Monero or BitTube with additional coins added in the future..

The $50,000,000 is said to largely go to the cost of acquiring mining computers and software with $1,000,000 for general corporate expenses. Long term financing needs are pegged considerably higher at $200 million.

As of the end of the year, the company has but a single employee: Anastasia Shishova. According to the filing, Shishova has been the CEO of Buscar Company, a company that trades on OTC Markets. About a year ago, Buscar filed to do their own Reg A+ offering.

The Auditors note states they have “Substantial doubt about the Company’s ability to continue as a going concern.”

Wyoming has positioned itself as a crypto friendly jurisdiction. That being said, crypto mining has recently tanked as the value of crypto has plummeted. Many mining firms are cutting back as the sector is no longer profitable. Some industry followers believe that crypto mining will disappear in its entirety in just a few years.

Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Sponsored Links by DQ Promote

Send this to a friend