KYC for private placement
GotNetwork is a highly scalable, low cost mobile first network infrastructure for Ethereum. A major concern for blockchain technology centers on speed and high transaction costs, with transactions on blockchains like bitcoin being expensive and slow. With growing usage, Ethereum will fare no differently over time. GoNetworks solution solves this problem by allowing off-chain transactions.
- To be considered an accredited investor, one must have a net worth of at least $1,000,000, excluding the value of one’s primary residence;
- OR, have an annual income of at least $200,000 per year for the last two years, and have the expectation to make the same amount this year;
- OR, have a combined annual income of at least $300,000 per year for the last two years if married, and have the expectation to make the same amount this year;
- OR, the investor is a bank, insurance company, registered investment company, business development company, or small business investment company;
- OR, the investor is a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000;
- OR, the investor is an employee benefit plan, where the investment decision is being made by a bank, insurance company, saving and loan association, or registered investment adviser;
- OR, the investor is a charitable organization, corporation, or partnership with assets exceeding $5 million;
- OR, the investor is a trust, with total assets in excess of $5 million, not formed to specifically purchase the subject securities, whose purchase is directed by a sophisticated person.