# 11. Disclaimer

## DISCLAIMER <a href="#toc_250000" id="toc_250000"></a>

PLEASE READ THE ENTIRETY OF THIS "DISCLAIMER" SECTION CAREFULLY. THIS "DISCLAIMER" SECTION FORMS AN INTEGRAL PART OF THIS WHITEPAPER. NOTHING HEREIN CONSTITUTES LEGAL, FINANCIAL, BUSINESS OR TAX ADVICE AND YOU SHOULD CONSULT YOUR OWN LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S) BEFORE ENGAGING IN ANY ACTIVITY IN CONNECTION HEREWITH.

IT IS RECOMMENDED THAT YOU OBTAIN INDEPENDENT LEGAL ADVICE BEFORE ENGAGING IN ANY ACTIVITY PERTAINING TO THIS DOCUMENT. THERE ARE RISKS ASSOCIATED WITH INVESTING IN THE TOKEN. A FIRM’S PAST PERFORMANCE IS NOT A GUARANTEE OR PREDICTION OF FUTURE PERFORMANCE.

NEITHER VEGA INVESTMENT GROUP LIMITED (THE “**COMPANY**”), ANY OF ITS

AFFLIATES , ANY OF THE PROJECT TEAM MEMBERS (THE “**CROWN TEAM**”) WHO

HAVE WORKED ON CROWN (AS DEFINED BELOW) OR PROJECT TO DEVELOP CROWN IN ANY WAY WHATSOEVER, NOR ANY SERVICE PROVIDER, INCLUDING WITHOUT LIMITATION PELLAR TECHNOLOGY PTY LTD, VUCA DIGITAL LIMITED, AND VUCA DIGTAL COMPANY LIMITED, SHALL BE LIABLE FOR ANY KIND OF DIRECT OR INDIRECT DAMAGE OR LOSS WHATSOEVER WHICH YOU MAY SUFFER IN CONNECTION WITH ACCESSING THIS WHITEPAPER,THE WEBSITE AT https://crowntoken.io/ (“THE **WEBSITE**”) OR ANY OTHER WEBSITES OR MATERIALS PUBLISHED BY THE COMPANY.



### **Crown**

Crown (CROWN) is digital cryptographically-secured digital token and is a transferable representation of attributed benefits as outlined in this Whitepaper. CROWN Tokenholders acknowledge and expressly accept that the current benefits do not include those in the Project Roadmap, Vision, or any of those which outlines the future development goals and future plans of the Crown. CROWN Tokenholders also acknowledge and accept that the current benefits of CROWN may be changed or amended.



### **NATURE OF THE WHITEPAPER**

The Whitepaper and the Website are intended for general informational purposes only and do not constitute a prospectus, an offer document, an offer of securities, a solicitation for investment, or any offer to sell any product, item or asset (whether digital or otherwise). The information herein may not be exhaustive and does not imply any element of a contractual relationship. There is no assurance as to the accuracy or completeness of such information and no representation, warranty or undertaking is or purported to be provided as to the accuracy or completeness of such information. Where the Whitepaper or the Website includes information that has been obtained from third party sources, the Company, the Company’s respective affiliates and/or the CROWN Team have not independently verified the accuracy or completion of such information. Further, you acknowledge that circumstances may change and that the Whitepaper or the Website may become outdated as a result; and the Company reserves the right, but is under no any obligation, update or correct this document, and change the terms and conditions, and rights of Crowns in connection therewith.



### **TOKEN DOCUMENTATION**

Nothing in the Whitepaper or the Website constitutes any offer by the Company, or the CROWN Team to sell any CROWN (as defined herein) nor shall it or any part of it nor the fact of its presentation form the basis of, or be relied upon in connection with, any contract or investment decision. Nothing contained in the Whitepaper or the Website is or may be relied upon as a promise, representation or undertaking as to the future performance of the CROWN. The agreement between the Company (or any third party) and you, in relation to any sale, purchase, or other distribution or transfer of CROWN, is to be governed only by the separate terms and conditions of such agreement.



### **DEEMED REPRESENTATIONS AND WARRANTIES**

By accessing the Whitepaper or the Website (or any part thereof), you shall be deemed to represent and warrant to the Company, its respective affiliates, and the CROWN Team as follows:

* In any decision to purchase any CROWN, you have not relied on any statement set out in the Whitepaper or the Website;
* You will and shall at your own expense ensure compliance with all laws, regulatory requirements and restrictions applicable to you (as the case may be);
* You acknowledge, understand and agree that CROWN may have no value, there is no guarantee or representation of value or liquidity for CROWN, and CROWN is not an investment product including for any speculative investment;
* None of the Company, or the Company’s respective affiliates, and/or the CROWN Team members shall be responsible for or liable for the value of CROWN, the transferability and/or liquidity of CROWN and/or the availability of any market for CROWN through third parties or otherwise; and
* You acknowledge, understand and agree that you are not eligible to purchase any CROWN if you are a citizen, national, resident (tax or otherwise), domiciliary and/or green card holder of a geographic area or country (i) where it is likely that the sale of CROWN would be construed as the sale of a security (howsoever named), financial service or investment product and/or (ii) where participation in token sales is prohibited by applicable law, decree, regulation, treaty, or administrative act and to this effect you agree to provide all such identity verification document when requested in order for the relevant checks to be carried out and/or (iii) that is subject to sanctions

The Company, and the CROWN Team do not and do not purport to make, and hereby disclaims, all representations, warranties or undertaking to any entity or person (including without limitation warranties as to the accuracy, completeness, timeliness or reliability of the contents of the Whitepaper or the Website, or any other materials published by the Company). To the maximum extent permitted by law, the Company, the Company’s affiliates and service providers shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including, without limitation, any liability arising from default or negligence on the part of any of them, or any loss of revenue, income or profits, and loss of use or data) arising from the use of the Whitepaper or the Website, or any other materials published, or its contents (including without limitation any errors or omissions) or otherwise arising in connection with the same. Prospective purchasers of CROWN should carefully consider and evaluate all risks and uncertainties (including financial and legal risks and uncertainties) associated with the CROWN token sale, the Company, and the CROWN Team.



### **INFORMATIONAL PURPOSES ONLY**

The information set out herein is only conceptual, and describes the future development goals for the CROWNs to be developed. In particular, the Project Roadmap in the Whitepaper is being shared in order to outline some of the FUTURE PLANS of the CROWN team, and is provided solely for INFORMATIONAL PURPOSES and does not constitute any binding commitment. Please do not rely on this information in making purchasing decisions because ultimately, the development, release, and timing of any products, features, rights, benefits, or functionality of the CROWN remains at the sole discretion of the Company, and is subject to change. Further, the Whitepaper or the Website may be amended or replaced from time to time at the Company’s sole discretion. There are no obligations to update the Whitepaper or the Website, or to provide recipients with access to any information beyond what is provided herein.



### **REGULATORY APPROVAL**

No regulatory authority has examined or approved, whether formally or informally, of any of the information set out in the Whitepaper or the Website. No such action or assurance has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of the Whitepaper or the Website does not imply that the applicable laws, regulatory requirements or rules have been complied with.



### **CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENT**

All statements contained herein, statements made in press releases or in any place accessible by the public and oral statements that may be made by the Company, and/or the CROWN Team, may constitute forward-looking statements (including statements regarding intent, belief or current expectations with respect to market conditions, business strategy and plans, financial condition, specific provisions and risk management practices).

You are cautioned not to place undue reliance on these forward-looking statements given that these statements involve known and unknown risks, uncertainties and other factors that may cause the actual future results to be materially different from that described by such forward-looking statements, and no independent third party has reviewed the reasonableness of any such statements or assumptions. The Company and the CROWN Team expressly disclaim any responsibility (whether express or implied) to release any revisions to these forward-looking statements to reflect events after such date.





## **RISKS DISCLOSURES:**

### **General Risks Warning**

By purchasing any CROWN, you expressly acknowledge and represent that you have carefully reviewed and considered this Whitepaper before purchasing, including the risks disclosures set out in this section. You acknowledge and agree that you are fully aware that purchasing CROWN entails a high degree of risks (both known and unknown), and you agree to assume the risks set out here, amongst other risks. If any of the risks disclosed, or other additional risks presently regarded to be immaterial, actually materializes, you understand that this could result in, amongst others, (i) the total loss of the price you paid to purchase any CROWNs; (ii) the failure of the CROWNs to generate any expected returns; (iii) the destruction of the CROWNs. The offering is unregulated and may result in substantial risks for purchasers of the CROWNs.



### **Prospective Tokenholders should be prepared for the possibility of losing their investment completely.**

Digital token offerings are highly speculative. Digital token offerings, depending on how they are structured, may fall outside of the regulated space, in which case Tokenholders do not benefit from the usual protections that comes with regulated investments. Digital token offerings are also vulnerable to fraud or illicit activities, owing to their anonymity and their capacity to raise large amounts of money in a short timeframe.

If you are under any doubt as to the risks or suitability of the purchase of any tokens (including CROWNs), you should seek advice from an appropriately qualified financial adviser.

The risk factors set out below do not purport to be complete or comprehensive of all the risk factors that may be involved in the business, assets, financial condition, performance, results of operation or prospects of the Company or any decision to purchase, own or dispose of the CROWNs.

Headings and subheadings are for convenience only and investment considerations and risk factors that appear under a particular heading or sub-heading may also apply to one or more other headings or sub-headings.

Digital token offerings are extremely risky and highly speculative. Prospective Tokenholders should realize that they are exposed to the following risks when purchasing CROWNs:



### **Unregulated space, vulnerable to fraud or illicit activities**

Depending on how they are structured, Digital token offerings may not be captured by the existing rules and may fall outside of the regulated space. Some digital token offerings may be used for fraudulent or illicit activities, with several recent digital token offerings having been identified as frauds, while financial regulators cannot exclude that some are being used for money laundering purposes. In the case where a digital token offering does not fall under the scope of the laws and regulations of national or supra-national jurisdictions, purchasers cannot benefit from the protection that these laws and regulations provide.

### **Risks arising from lack of governance rights**

As CROWNs confer no governance rights of any kind with respect to the CROWNs or the Company; all decisions involving the Company (including to sell or liquidate the Company) will be made by the Company, its affiliates and/or any manager, adviser or person appointed by them, in their sole and absolute discretion, which includes all decisions involving the CROWNs, including but not limited to, decisions to discontinue CROWN, or to create and issue more CROWNs, will be made by the Company, its affiliates and/or any manager, adviser or person appointed by them,. These decisions could adversely affect the CROWNs (including any CROWNs you hold).

### **Jurisdiction related risks**

Certain jurisdictions may prohibit the sale of tokens (including CROWNs) to its residents, tax residents or persons having a relevant connection with said jurisdictions. Thus, changes in your place of domicile or the applicable law may result in you violating any legal or regulatory requirements of your applicable jurisdiction. You are responsible for ensuring that the distribution, holding, use or exchange of CROWNs is, and remains, lawful despite changes to applicable laws, your residence and circumstances.

The Company reserves the right to prohibit any and all purchasing of CROWN to users domiciled or located in a country or territory, it deems as restricted from any cryptographic token or digital asset related activities are subject to regulatory requirements including, but not limited to, Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar, Singapore, Tunisia, the United States. The Company does not intend to conduct such cryptographic token or digital asset related activities which may be prohibited or subject to regulatory requirements in those jurisdictions.



### **Risks arising from the market in which the CROWNs operates**

The crypto-currency exchange market, the token listing and trading market, digital token offerings, and, by extension, CROWNs, are subject to a variety of federal, state and international laws and regulations, including those with respect to know your customer, anti-money laundering and customer due diligence procedures, privacy and data protection, consumer protection, data security, and others. These laws and regulations, and the interpretation or application of these laws and regulations, could change. In addition, new laws or regulations affecting the CROWNs could be enacted, which could impact the utility of CROWNs in CROWN's ecosystem. In addition, Tokenholders are subject to or may be adversely affected by industry specific laws and regulations or licensing requirements. If any of these parties fails to comply with any of these licensing requirements or other applicable laws or regulations, or if such laws and regulations or licensing requirements become more stringent or are otherwise expanded, it could adversely impact the CROWNs, including its utility to obtain or provide services within the CROWN's ecosystem.



### **High risk of losing all of the capital paid**

The vast majority of digital token offerings are launched by businesses that are at a very early stage of development. These businesses have an inherently high risk of failure. Many of the tokens that are being issued have no intrinsic value other than the possibility to use them to access or use a service/product that is to be developed by its issuer. There is no guarantee that the services/products will be successfully developed and, even assuming that the project is successful, any eventual benefit may be extremely low relative to the capital paid for the tokens.



### **Lack of exit options and extreme price volatility**

Tokenholders may not be able to trade their CROWNs or to exchange them for traditional fiat currencies. Not all CROWNs are traded on virtual asset exchanges and when they are, like virtual currencies, their price may be extremely volatile. Many of those exchanges are unregulated and vulnerable to market price manipulation and fraudulent activities. Tokenholders may be exposed to the lack of exit options or not be able to have their CROWNs bought back for a prolonged period.



### **Information Asymmetry**

The information that is made available to prospective Tokenholders or CROWNs purchasers, e.g. in so-called "white papers", is in most cases unaudited, incomplete, unbalanced or even misleading. It typically puts the emphasis on the potential benefits but not the risks. It is technical and not easily comprehensible. Prospective Tokenholders may therefore not understand the risks that they are taking and make decisions as to purchasing CROWNs that are not appropriate to their needs.



### **Flaws in the technology**

The distributed ledger or blockchain technology that underpins CROWNs is still largely untested. There may be flaws in the code or programs that are used to create, transfer or store CROWNs. Tokenholders may not be able to access or control or their CROWNs may be stolen, e.g., in case of a hack. More generally, the technology may not always function quickly and securely, e.g. during peaks of activity.



### **Risk Factors Involving the Purchase of CROWNs**

There may not be a successfully developed market for CROWNs. It will require the expertise of the Company's management, time and effort to develop the CROWNs. It is possible that the CROWNs may not meet Tokenholders' expectations at the time of purchase. Furthermore, despite good faith efforts to maintain CROWNs, it is still possible that CROWNs will experience malfunctions or otherwise fail to be adequately developed or maintained, which may negatively impact the CROWNs.

While the Company has sought to retain and continue to competitively recruit experts, there is a general scarcity of management, technical, scientific, research and marketing personnel with appropriate training to maintain CROWNs.

Purchasing new crypto currency projects involve a high degree of risk. Purchasing resale CROWNs may involve an even higher degree of risk.

Financial and operating risks confronting new crypto currency projects are significant: the Company is not immune to these. The market in which the Company competes is highly competitive and the percentage of companies that survive and prosper is small. New crypto currency projects often experience, amongst others, unexpected problems in the areas of product development, marketing, financing, and general management, which frequently cannot be solved.



### **Risk of Losing Access to CROWNs Due to Loss of Private Key(s), or Error**

CROWNs may be accessed by using a blockchain wallet with a combination of the contributor's account information (address), private key and password. The private key is encrypted with a password. You acknowledge, understand and accept that if your private key or password gets lost or stolen, the obtained CROWNs associated with your blockchain wallet address may be unrecoverable and permanently lost. In addition, any third party that gains access to your private key, including by gaining access to the login credentials relating to your blockchain wallet, may be able to misappropriate your CROWNs. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store CROWNs, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your CROWNs.



### **Risk of Erroneous Transfers**

CROWN transactions may be irreversible and may not be recoverable, as trades conducted automatically based on the Ethereum blockchain.



### **Risk of Incompatible Wallet Service**

The wallet or wallet service provider used to receive CROWNs must conform to the same token standard as CROWN in order to be technically compatible with CROWNs. The failure to ensure such conformity may have the result that that Tokenholder will not gain access to the Tokenholder’s CROWNs.



### **Risk of Inadequate Resources**

The digital token offering and the CROWNs will require intensive computing resources. The demand for these resources may exceed the Company's estimates. Ultimately, the Company's resources may prove inadequate to support the digital token offering or to develop CROWNs, which may affect the distribution or utility of CROWNs.



### **Risks associated with information asymmetry regarding CROWN**

You will not have full access to all the information relevant to the Company and/or to CROWN. The Company is not required to update you on the progress of CROWNs. You are responsible for making your own decisions in respect to purchasing CROWNs. The Company does not provide you with any recommendation or advice in respect of the purchase of CROWNs. You may not rely on the Company to provide you with complete or up to date information.



### **The Company may be forced to cease operations or take actions that result in the Company's dissolution.**

It is possible that, due to any number of reasons, including, but not limited to, an unfavourable fluctuation in the value of cryptographic and fiat currencies, the inability by the Company to establish CROWNs' utility, the failure of commercial relationships, or IP ownership challenges, the Company may no longer be viable to operate and the Company may dissolve or take actions that result in its dissolution.



### **The tax treatment of CROWNs, the purchase rights contained therein and CROWNs' distribution is uncertain and there may be adverse tax consequences for Tokenholders upon certain future events.**

The tax characterization of the CROWNs is uncertain, and each Tokenholder must seek its own tax advice in connection with a purchase of CROWNs which may result in adverse tax consequences to Tokenholders, including withholding taxes, income taxes and tax reporting requirements. Each Tokenholder should consult with and must rely upon the advice of its own professional tax advisors with respect to the treatment of any purchase of the CROWNs and the rights contained therein.





## **Risk Factors Involving the CROWNs as Tokens**

### **The CROWNs may not be widely adopted and may have limited users.**

It is possible that CROWNs will not be used by a large number of individuals, companies and other entities. Such a lack of use or interest could negatively impact the development of the CROWNs and therefore the potential utility of CROWNs.



### **Risks associated with markets for CROWNs.**

The Company may choose not to enable or otherwise facilitate any secondary speculative trading or any such external valuation of CROWNs. This may restrict the contemplated avenues for using CROWNs to the potential of CROWNs’ utility described in the Whitepaper and could therefore create illiquidity risk with respect to any CROWNs you own. Even if secondary trading of CROWNs is facilitated by third-party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation. Furthermore, to the extent that any third party ascribes an external exchange value to CROWNs (e.g. as denominated in a crypto or fiat currency), such value may be extremely volatile and diminish to zero. If you are purchasing CROWNs as a form of investment on a speculative basis or otherwise, or for a financial purpose, with the expectation or desire that their inherent, intrinsic or cash-equivalent value may increase with time, you assume all risks associated with such speculation or actions, and any errors associated therewith, and accept that CROWNs are not offered by the Company or its affiliates on an investment basis.



### **Alternative crypto currencies may be established that compete with or are more widely used than the CROWNs.**

It is possible that alternative crypto currencies could be established that utilize the same or similar open source code and protocol underlying CROWNs. CROWN may compete with these alternative crypto currencies, which could negatively impact CROWNs.



### **The open-source structure of the CROWNs means that the CROWNs may be susceptible to developments by users or contributors could damage the CROWNs and the Company's reputation and could affect the utilization of the CROWNs.**

CROWN will operate based on an open-source protocol, the Ethereum blockchain, which is maintained by many contributors. The open-source nature of the Ethereum protocol means that it may be difficult to maintain and neither the contributors nor the Company may have adequate resources to address emerging issues or malicious programs that develop within Ethereum adequately or in a timely manner. Third parties not affiliated with the Company may introduce weaknesses or bugs into the core infrastructure elements of Ethereum and open-source code which may negatively impact CROWNs. Such events may result in a loss of trust in the security and operation of CROWNs and a decline in user activity and could negatively impact the market price of CROWNs.



### **Security breaches and the loss or theft of CROWNs.**

If CROWN’s security is compromised or if CROWNs are subjected to attacks that frustrate or thwart the ability to use or transfer CROWNs, users may cut back on or stop using CROWNs altogether, which could seriously curtail the utilization of CROWNs and cause a decline in the market price of CROWNs.

CROWN's structural foundation, the open-source protocol, the software application and other interfaces or applications built upon CROWNs are still in an early development stage and are unproven, and there can be no assurances that the CROWNs and the creating, transfer or storage of the CROWNs will be uninterrupted or fully secure which may result in a complete loss of Tokenholders' CROWNs or an unwillingness of users to use CROWNs. Further, CROWNs or the Company may also be the target of malicious attacks seeking to identify and exploit weaknesses in the software or the CROWNs which may result in the loss or theft of CROWNs. For example, if the CROWNs are subject to unknown and known security attacks, this may materially and adversely affect the value of CROWNs.



### **Unanticipated risks.**

Cryptographic tokens, such as CROWNs, are a new and untested technology. In addition to the risks set out in this section, there are other risks associated with your acquisition, storage, transfer and use of CROWNs, including those that the Company may not be able to anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks set out in this section.



### **Risks relating to the amendments of the Terms and Conditions without Tokenholders' consents that will bind all Tokenholders.**

The Company may, without the consent of the Tokenholders, but in accordance with the Terms and Conditions (as applicable), effect any modification to the Terms and Conditions which may affect the terms and conditions applicable in relation to CROWNs. These amendments may be, of a formal, technical or minor nature, or to correct a manifest error, or to comply with any laws, rules or regulations of any applicable jurisdiction. Any such modification shall be binding on the Tokenholders.



### **Risk Factors Involving Blockchain Technologies and Digital Assets Risk of software weaknesses**

As the smart contract system and CROWNs are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on the smart contract system and/or CROWNs. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to CROWNs (including the utility of CROWNs for obtaining services) and the smart contract system by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol. The smart contract system concept, the underlying software application and software platform (i.e. the Ethereum blockchain) is still in an early development stage and unproven. There is no warranty or assurance that the process for creating CROWNs will be uninterrupted or error-free and why there is an inherent risk that the software could contain defects, weaknesses, vulnerabilities, viruses or bugs causing, inter alia, the complete loss of contributions and/or CROWNs.



### **Risk of Swap**

In order to stay up to date with technology, the CROWN ecosystem may be required to update or change the smart contract system that CROWNs operate on. In the event that a swap is required, the Company will make a good faith effort to credit every Tokenholder's account in such a way that no CROWNs are lost. However, the Company does not, and cannot, promise that every Tokenholder will be accommodated.



### **The Tokenholders will have no control and the Company may only have limited control following the issuance of the CROWNs.**

CROWNs depend on a network of computers to run certain software programs to process transactions. Because of this less centralized model, the Company has limited control over the recording of CROWNs once issued. In addition, Tokenholders are not and will not be entitled, to vote or receive dividends or be deemed the holder of capital stock of the Company for any purpose, nor will anything be construed to confer on the Tokenholders any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof, or to give or withhold consent to any corporate action or to receive notice of meetings, or otherwise.



### **There may be occasions when certain individuals involved in the development and launch of the CROWNs may encounter potential conflicts of interest in connection with the digital token offering, such that said party may avoid a loss, or even realize a gain, when other purchasers of the CROWNs are suffering losses.**

There may be occasions when certain individuals involved in the development and launch of the CROWNs may encounter potential conflicts of interest in connection with the digital token offering such that said party may avoid a loss, or even realize a gain, when other Tokenholders are suffering losses. Tokenholders may also have conflicting purchase, tax, and other interests with respect to the CROWN, the CROWNs' code, the timing of the network launch, due to pre-sales of CROWNs, or other factors. Decisions made by the key employees of the Company and/or its affiliates on such matters may be more beneficial for some Tokenholders than for others.



### **Tokenholders May Face Information Asymmetry When Monitoring CROWNs.**

Tokenholders may not be able to obtain all desired information regarding the CROWNs on a timely basis or at all. It is possible that a Tokenholder may not be aware on a timely basis of material adverse changes that have occurred with respect to the CROWNs.



### **The Company and The CROWNs Have No History.**

The CROWNs are newly formed, and the Company does not have any operating history. Each prospective Tokenholder should evaluate such potential purchase on the basis that the CROWNs, the Company or any third party's assessment of the prospects of the CROWNs may not prove accurate. Past performance of the Company or any similar CROWNs is not predictive of future results.



### **If CROWNs are unable to satisfy data protection, security, privacy, and other government and industry-specific requirements, their growth could be harmed.**

There are a number of data protection, security, privacy and other government- and industry-specific requirements, including those that require companies to notify individuals of data security incidents involving certain types of personal data. Security compromises could harm CROWNs' reputation, erode user confidence in the effectiveness of its security measures, negatively impact its ability to attract further people to acquire the CROWNs, or cause existing Tokenholders to sell their CROWNs.



### **The further development and acceptance of blockchain networks, which are part of a new and rapidly changing industry, are subject to a variety of factors that are difficult to evaluate. The slowing or stopping of the development or acceptance of blockchain networks and blockchain assets would have an adverse material effect on the successful development and adoption of CROWNs.**

The growth of the blockchain industry in general, as well as the blockchain networks on which the CROWNs will rely and interact, is subject to a high degree of uncertainty. The slowing or stopping of the development, general acceptance and adoption and usage of blockchain networks and blockchain assets may deter or delay the acceptance and adoption of CROWNs.



### **Risks associated with third party contractors.**

Development of CROWNs, and the operation of the digital token offering, will require third-party contractors with particular expertise in Ethereum and blockchain technology. The availability of such contractors is limited. There may not be a sufficient number of contractors available on terms deemed acceptable by the Company. The costs associated with any such contractors may be significantly greater than currently estimated. Furthermore, the quality, reliability and timely delivery of services by such contractors may vary significantly.



### **The prices of blockchain assets are extremely volatile. Fluctuations in the price of digital assets could materially and adversely affect our business, and the CROWNs may also be subject to significant price volatility.**

The prices of virtual or blockchain assets such as Bitcoin have historically been subject to dramatic fluctuations and are highly volatile, and the market price of the CROWNs may also be highly volatile.





## **Risk Factors Involving Legal Compliance and Regulatory Requirements**

### **The regulatory regime governing the blockchain technologies, cryptocurrencies, CROWNs and coin offerings such as CROWNs is uncertain, and new regulations or policies may materially adversely affect the development and the utility of the CROWNs.**

Regulation of digital token and virtual assets (including CROWNs) and offerings (including digital token offerings), cryptocurrencies, blockchain technologies, and cryptocurrency exchanges currently is undeveloped and likely to rapidly evolve, varies significantly among international, and local jurisdictions and is subject to significant uncertainty. Various legislative and executive bodies in the United States, the EU, Thailand, Singapore, the British Virgin Islands and in other countries may in the future, adopt laws, regulations, guidance, or other actions, which may severely impact the development and growth of the CROWNs and the adoption and use of the CROWNs. Failure by the Company or certain users of the CROWNs to comply with any laws, rules and regulations, some of which may not exist yet or are subject to interpretation and may be subject to change, could result in a variety of adverse consequences, including civil penalties and fines. As blockchain networks and blockchain assets have grown in popularity and in market size, state, national and supra-national agencies have begun to take interest in, and in some cases regulate, their use and operation.

The regulation of non-currency use of blockchain assets is also uncertain. To the extent that a domestic government or quasi-governmental agency exerts regulatory authority over a blockchain network or asset, the CROWNs may be materially and adversely affected.

Various jurisdictions may, in the near future, adopt laws, regulations or directives that affect CROWNs. Such laws, regulations or directives may directly and negatively impact our business. The effect of any future regulatory change is impossible to predict, but such change could be substantial and materially adverse to the development and growth of the CROWNs and the adoption and widespread use of CROWNs.

New or changing laws and regulations or interpretations of existing laws and regulations may materially and adversely impact the value of the currency in which the CROWNs may be exchanged, the liquidity of the CROWNs, the ability to access marketplaces or exchanges on which to trade the CROWNs, and the structure, rights and transferability of CROWNs.



### **No Regulatory Protection**

The Company is not licensed, approved, registered or otherwise regulated by the Thai Securities and Exchange Commission, the Monetary Authority of Singapore, the Financial Services Commission of the British Virigin Islands or any other regulatory authority and currently there is no intention for the Company to apply for any license or regulatory approval under the laws and regulations of Thailand, Singapore, or British Virgin Islands.



### **Disease and Outbreaks**

The outbreak of communicable diseases (such as COVID-19) throughout the world may cause disruptions to commerce, reduce economic activity and continued volatility in the financial markets around the world. The performance or liquidity of CROWNs may be adversely affected by such volatility in the digital asset market.



### **Reliance on Past Performance**

Prospective Tokenholders should not rely on the prior performance of the Company or its affiliates, as an indication of the future performance of CROWNs. There can be no assurance that any such strategy will produce profitable results. The past performance of the Company or its affiliates (if any) is not indicative of how CROWNs will perform in the future. There can be no assurance that the performance of the CROWNs will be comparable in the future to what it has been in the past.



### **Tax Risks**

Each prospective Tokenholder should consult their tax advisers to fully understand the possible tax consequences of a purchase in the CROWNs in light of their own situation



### **Risks Outlined are not Exhaustive**

The foregoing risk factors do not purport to be a complete explanation of the risks involved. Prospective Tokenholders must read the entire Whitepaper and any Terms and Conditions and must consult their own professional advisers, before deciding whether to purchase any CROWN(s).



### **REFERENCES TO COMPANIES AND PLATFORMS**

The use of any company and/or platform names or trademarks herein (save for those which relate to the Company, and the Company’s respective affiliates) does not imply any affiliation with, or endorsement by, any third party. References in the Whitepaper or the Website to specific companies and platforms are for illustrative purposes only.



### **ENGLISH LANGUAGE**

The Whitepaper and the Website may be translated into a language other than English for reference purpose only and in the event of conflict or ambiguity between the English language version and translated versions of the Whitepaper or the Website, the English language versions shall prevail. You acknowledge that you have read and understood the English language version of the Whitepaper and the Website.



### **NO DISTRIBUTION**

No part of the Whitepaper or the Website is to be copied, reproduced, distributed or disseminated in any way without the prior written consent of the Company. By attending any presentation on this Whitepaper or by accepting, downloading, or acquiring through any means whatsoever, any hard or soft copy of the Whitepaper, you agree to be bound by the foregoing limitations.

