CEYBIT DISCLAIMER

IMPORTANT: PLEASE READ THE FOLLOWING LEGAL DISCLAIMER CAREFULLY. We recommend you consult legal or financial advice prior to participating in the Ceybit Token Sale to be issued by Ceybit Software (Pvt) Ltd (‘Company’). The following disclaimer applies to the Whitepaper and all the information available on the Company website.

Disclaimer

The following information is solely for the purpose of informing the purchaser. Anyone interested in purchasing Ceybit Tokens and participating in the Token Sale is advised to consider the risks prior to making any kind of decision in respect to the Token Sale.

All the participants must make their own independent evaluation and consider the merits of participating in the Token Sale after taking professional legal, tax or financial advice. All participants should check and rely upon their own investment, accounting, legal and tax representative and/or consultants in respect of such matters concerning the Company. These include but not limited to Company’s business platform, the Ceybit Tokens, the Token Sale, any future Token functionality to assess the financial risks, consequences and appropriateness of the purchase of Tokens.

A purchase of Tokens comprise considerable risk and may involve risks that might lead to a loss of all or significant portion of monies or monetary value used to acquire the Tokens. Participants are urged to understand and be aware of the characteristics of the Company, the Company business platforms, the Tokens and the Token Sale. If you are not prepared or willing to accept any or all of these Terms, you are urged not to participate in the Token Sale.

The Company does not offer any guarantees or assurance that the Company’s proposals, objectives and/or outcomes set out in the information provided by the Whitepaper and the website, but not limited to, will be achieved in whole or in part. You are urged to consider whether participation in the Token Sale is suitable for your personal financial circumstances and resources.

This ‘Disclaimer’ may be updated and will be published as part of the latest version of the Whitepaper which shall be available on the Company website. You shall be obliged to check the latest version of the Whitepaper prior to purchasing your Ceybit Tokens. The information provided by the ‘Disclaimer’ does not imply any elements of a contractual relationship. The Company will make every reasonable effort to ensure that all information that is in the Whitepaper and available on the website (collectively referred to as “Available Information”) is accurate and up to date. However, such material in no way constitutes professional advice.

The Company neither guarantees nor accepts responsibility for the accuracy, reliability, current state or completeness of the Available Information. Individuals intending to participate in the Token Sale should seek independent professional advice prior to acting on any of the Available Information.

Legal Considerations

The Company has approached the Token Sale in a responsible and sensible manner. Given the uncertain and largely unregulated status of cryptocurrency and cryptocurrency related businesses and activities, the Company has spent significant amount of time and resources to consider its business approach and where it proposes to operate in the future. The Company will look to comply with all the Sri Lankan regulations (once they become available as there is no specific regulation in regards to cryptocurrency) and of other jurisdictions that is required to. However, due to the current uncertain state of regulation globally, the Company cannot guarantee the legality of the Company’s business platform and/or its ability to develop, structure and license any future Token functionality in every jurisdiction but the Company will aim to be responsive and complaint in the face of any regulatory inquiry.

The Tokens are intended to serve as a functional utility token, designed for the Company’s business platform and token economy. The Ceybit Tokens are not viewed by the Company as securities. In the event that you purchase Ceybit Tokens, your purchase cannot be refunded or exchanged by the Company as securities. The Company does not recommend purchasing Tokens for speculative investment purposes. Tokens do not entitle you to any equity, corporate governance, dividends, voting or similar rights or entitlements in the Company or in any of its affiliated companies. Tokens are sold as digital assets.

Regional Restrictions

Citizens, nationals, residents (tax or otherwise) and/or green card holders of each of: (i) United States of America, (ii) Australia are prohibited from the participation in the Ceybit Token Sale.

Advice

No part of the Available Information should be considered to be business, legal, financial or tax advice regarding the Company, the Ceybit Tokens, the Token Sale or any of the matters to which all or any part of the Available Information relates. You should consult your own legal, financial, tax or another professional advisor regarding the Available Information. You should be aware that you may be required to bear the financial risk of any purchase of Ceybit Tokens for an indefinite period of time.

Limited Liability

In no event shall the Company or any current or former employees, officers, directors, partners, representatives, agents, advisors, contractors or volunteers of the Company be liable for:

  • Any loss of profits, loss of savings or incidental, indirect, special or consequential damages arising out of your 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.
  • Any security risk such as but not limited to hacker attacks, loss of password, loss of private key.
  • Mistakes or error in code, text or images involved in the Token Sale or in any of the Available Information.
  • Any financial loss resulting from the volatility in pricing of the Tokens in any countries and on any exchange or market including but not limited to the Ceybit Exchange.
  • Any losses or damages arising out of or in connection with the purchase, use, sale of the Tokens, or arising out of or in any way connected to your failure to properly secure any private key to a wallet containing Tokens.

You assume all responsibility and risk with respect to your use of the Available Information and purchasing of any amount of 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 permitted by the applicable law. To the extent permitted by the law, you hereby irrevocably and unconditionally waive: (i) all and any claims, whether actual or contingent including without limitation, claims for or relating to the Limited Liability matters, any payment or repayment of monies, indemnity or otherwise that you may have against the Company or against the Company’s representatives and (ii) release and discharge the Company and all of the Company Representatives from any and all liability (of whatsoever nature or however arising). If for any reason you hereafter bring or commence any action or legal proceeding in respect of any claim purported to be released and discharged pursuant to this paragraph or these Terms or otherwise attempt to pursue any such claim against the Company or any Company representative then you hereby irrevocably and unconditionally undertake to indemnify, and keep indemnified the Company and all Company representatives fully on demand from and against:

  • All liabilities or losses suffered by the Company or any Company representative and;
  • 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.

If any provision or part provision of this ‘Disclaimer’ 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 ‘Disclaimer’ shall not affect the validity and enforceability of the rest of this ‘Disclaimer’.

Presentation & Warranties by You

By accepting possession or communication of all or any part of the Available Information, you represent and warrant to the Company on the date of such access or on the latest date on which you retain possession of all or any part of the Available Information inclusive of the Ceybit Tokens as follows:

  • You are over 18 years of age.
  • You agree and acknowledge that the Ceybit Tokens were not designed as securities and do not constitute an investment in any form in any jurisdiction.
  • You agree and acknowledge that the Available Information does not constitute a prospectus or offer document of any sort and you are not bound to enter into any contract or binding legal commitment and no cryptocurrency or other form of payment is to be accepted on the basis of the Available Information.
  • You agree and acknowledge that no regulatory authority has examined or approved of the Available Information, no action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction and the publication, distribution or dissemination of all or any parts of the Available Information to you does not imply that the applicable laws, regulatory requirements or rules have been complied with.
  • You agree and acknowledge that the Available Information, the undertaking and/ or the completion of the Token Sale, or future trading of the Tokens on any exchange or market (regulated, unregulated, primary, secondary, Ceybit Exchange or otherwise), shall not be constructed, interpreted or deemed by you as an indication of the merits of the Company, the Ceybit Tokens, the Token Sale or the Available Information.
  • The distribution or dissemination of the Available Information any part thereof or any copy, or acceptance of the same by you is not prohibited or restricted by the applicable laws, regulations or rules in your jurisdiction, and where any restriction in relation to possession are applicable, 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 Ceybit Tokens, the Ceybit Tokens should not be construed, interpreted, classified or treated as:
    1. Any kind of currency or commodity;
    2. Debentures, stocks or shares issued by any person or entity;
    3. rights , options or derivatives in respect of such debentures, stocks or shares;
    4. Rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss;
    5. Units in a collective investment scheme;
    6. ts in a business trust;
    7. Derivatives of units in business trust;
    8. Any other security or class of securities;
    9. Any type of investment as such term might be construed under applicable legislation;
  • You are fully aware of and understand that you are not eligible to purchase any Ceybit Tokens or access the Available Information if you are a citizen, national, resident (tax or otherwise) and/ or a green card holder of a Restricted Jurisdiction or if you are a Restricted Person;
  • You have a basic degree of understanding of the operation, functionality, usage, storage, transmission mechanism and other material characteristics of cryptocurrencies, blockchain based software, cryptocurrency wallets or other related token storage mechanism, blockchain technology and smart contract technology.
  • You fully understand that in the case where you wish to purchase any Ceybit Tokens, there are risks associated with (A) the Company and its business and operations; (B) the Ceybit Tokens; (C) the Token Sale; and (D) relying on acting on all or any part of the Available Information.
  • You agree and acknowledge that the Company is not liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, loss if use or data, or loss of reputation or loss of any economic or other opportunity of whatsoever nature or howsoever arising), out of or in connection with any acceptance or reliance on the Available Information;
  • All of the above representations and warranties are true, complete, accurate and not misleading from the time of your last access to and/or possession of the Available Information.

Note on Forward-Looking Statements

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual future results, performance or achievements of the Company to be materially different from any future results, performance or achievements expected, expressed or implied by such forward-looking statements. These factors include;

  • Changes in political, social, economic and stock or cryptocurrency market conditions, and the regulatory environment in the countries in which the Company conducts its business.
  • The risks that the Company may be unable to execute or implement its business strategies and future plans.
  • Changes in interest rates and exchange rates of fiat currencies and cryptocurrencies.
  • Changes in the anticipated growth strategies and the expected internal growth of the Company.
  • Changes in the availability and fees payable to the Company in connection with its business and operations,
  • Changes in the availability and salaries of the employees who are required by the Company to operate its business.
  • Changes in the preference of the customers of the Company.
  • Changes in competitive conditions under which the Company operates, and the ability of the Company to compete under such conditions.
  • Changes in the future capital needs of the Company and the availability of financing and capital to fund such needs.
  • War or acts of international or domestic terrorism.
  • Occurrences of catastrophic events, natural disasters that affect the business and/operations of the Company.
  • Factors beyond the exclusive control of the Company.
  • Any risks and uncertainties associated with the Company and its business and operations, the Ceybit Tokens, the Token Sale and reliance on all or any part of the Available Information.

Please note that all forward looking statements made by or attributed to the Company are expressly qualified in their entirety by such factors. Given the risks and uncertainties that may cause the actual future results, performances or achievements of the Company to be materially different from the expected, expressed or implied by the forward looking statements in the Available Information, undue reliance must not be placed on these statements.

Neither the Company nor the Company representatives warrants and/or undertakes that the actual future results, performance or achievements of the Company will be as discussed in those forward looking statements. The actual results, performance or achievements of the Company may differ.

Risks in Relation to the Participation in the Ceybit Token Sale

Please note that a Token is not a currency issued by any central bank or national, super- national or quasi- national organization. The Token is not backed by any hard assets or other credit nor is it a commodity in the traditional sense of the word. Trading of the Token will depend on the consensus on its value between the relevant market participants.

There is no guarantee to the liquidity or the market price of the Tokens to any extent at any time.

While the Company will make every effort to provide a realistic estimate, there is no assurance the cryptocurrencies raised in the Token Sale will be sufficient for the development of the Company’s business platform and/or for the proper development, structuring and licensing of the anticipated future Token functionality. For the foregoing or any other reason, the development of the Company’s business platform and launch of the anticipated Token functionality may not be completed and there is no assurance that it will be launched at all. All such, distributed Ceybit Tokens may have small or no utility, and may have little worth or value and this would impact its use and liquidity. The price of the Ceybit Token may fluctuate following the Token Sale. The utility or prices of the Tokens can fluctuate significantly in response to but not limited to the following factors which are beyond the control of the Company.

  • New technical innovations and competition.
  • Government regulation.
  • Analyst’s speculations, recommendations, perceptions or estimates of the Ceybit Token utility.
  • Changes in market valuations and token prices of entities with business similar to the Company.
  • Significant Company announcements such as partnerships or new product developments.
  • Additions or departures of key personnel of the Company.
  • Success or failure of the Company to implement business and growth strategies.
  • Changes in the conditions that affect the blockchain or the financial industry.

You must understand and acknowledge that the funds raised in the Token Sale are exposed to risks of theft. The Company will take every effort to ensure that the funds received from the Token Sake will be securely held in a wallet. Furthermore, the Company will take every effort to ensure that the funds received by the Token Sale will be securely held through the implementation of security measures. Notwithstanding such security measures, there is no assurance that there will be no theft of the cryptocurrencies as a result of hacks, cyber-attacks, errors or other vulnerabilities on the Token Sale website, in the smart contract on which the escrow wallet and the Token Sale relies, on the Ethereum blockchain. Such events may include but not limited to flaws in programming or source code leading to exploitation. In such event, even if the Token Sale is completed, the Company may not be able to receive the cryptocurrencies raised and the Company may not be able to use such funds for the development of the Company’s business platform and/or launching of the Ceybit Token.

Risks Associated with the Platform to be developed by the Company (‘the Platform”)

The Platform may malfunction due to problems with the Ethereum blockchain. The Platform is a platform intended to be based on the Ethereum blockchain. As such, any malfunction, unintended function, unexpected functioning of an attack on Ethereum may cause the Platform to malfunction or function in an unintended manner. The impact if any such malfunction could be negative and could result in the Token having little or no value whatsoever.

Tokens should not be viewed as investments, they may have value. Competitive technologies could negatively impact the value of the Tokens. Security weaknesses could negatively impact the operation of the Platform. Developers involved in the creation and operation of the Platform software, or other persons may intentionally or unintentionally introduce weaknesses or bugs into the infrastructure, this could interfere with the operation of the Platform or result in the loss of Tokens.

Similarly to other decentralized tokens and cryptocurrencies, the blockchain has inherent risks and is susceptible to mining attacks, including but not limited to majority mining power attacks, ‘selfish-mining’ attacks, race condition attacks. Any successful attacks present a risk to the Platform, the Ceybit Tokens. Furthermore, centralized access portals on internet servers are subject to similar attacks such as denial-of-service (DoS) and distributed DoS (DDoS) attacks, which can also present issues of security to the network. Any impact of such risks could be negative and material and could result in the Token having little or no value.

Legal and Regulatory Risks

Regulatory requirements on the Platform may negatively impact the Tokens. The Company may be subject to licensing obligations, compliance obligations, supervision and examination and/or litigation. This may extend to all aspects of the Platform.

The functioning of the Platform could be impacted by these regulatory and compliance obligations. Any such impact could be negative and material and could result in the Token having little to no value.

Risks Relating to the Company

Any event which adversely affect the Company or any of its successors or affiliated operating entities may have a corresponding adverse effect on the Company’s business Platforms and/ or the future Token functionality, including but not limited to the development, structuring and launch of the Company’s business platform and of any future Token functionality.

The cryptocurrency industry have grown rapidly over the past few years and continue to evolve in response to new technological advances, changing business models, shifting regulations and various other factors. As a result of this constantly changing environment, the Company may face operational difficulties in adjusting to the changes, and the sustainability of the Company will depend on the ability to manage and its operations and keep up with the ever changing environment. These upgrades and improvements will require resources and proper training of staff. If the Company is unable to adapt it would directly have an adverse effect on the Company’s ability to maintain or operate the Company’s business platform and/or develop the anticipated future Token functionality.

The Company is not able to anticipate when there would be occurrences of hacks, cyber-attacks, distributed denials of service or errors, vulnerabilities or defects in the;

  • Company business platforms,
  • In the smart contracts,
  • Ethereum blockchain

Such events may affect the Token value and functionality.

The Company could continue to be affected by general global economic and market conditions. Weakness in the economy could have a negative effect on the Company’s business, operations and financial condition. Including decreases in revenue and operating cash flow, and inability to attract future equity and/or debt financing on commercially reasonable terms. In a down-cycle economic environment, the Company may experience the negative effect of slowdown in trading and usage of the Company business Platform which may adversely affect the Token value. Any such circumstances would then correspondingly negatively impact the utility, liquidity and/or trading price of the Ceybit Tokens.

The Company may also have to cease operations in a jurisdiction that makes it illegal to operate in such jurisdiction or makes it commercially inviable or undesirable to obtain necessary regulatory approvals to operate in such jurisdiction. In such scenarios the utility, liquidity and/ or trading price of the Ceybit Token may be adversely affected.

You must understand and acknowledge that there is a risk of dissolution of the Company, this is possible due to a number of reasons, including but not limited to, decrease in token utility due to negative adoption of the Company’s business platform, the Company’s business platform may no longer be viable to operate and the Company may dissolve.

Privacy Policy

By purchasing the Ceybit Token, you agree to your personal data, (i.e. email address, name, address and other details personal to you) being processed by the Company for its business purposes. The Company agrees to keep your email address and other personal data private and not share it with the public (i.e. including it on any external lists or selling it to any third parties).

Restrictions on Distribution and Dissemination of the Available Information

The distribution or dissemination of all or part of the Available Information may be prohibited or restricted by the laws, regulatory requirements and rules of certain jurisdictions. In the case where any such restrictions applies, you are responsible for educating yourself in respect of the same and for observing such restrictions which are applicable to your possession and/or dissemination of all or any part of the Available Information at your own expense and without the liability to the Company.

No Offer of Securities or Registration

The Available Information does not constitute a prospectus or offer document of any type and is not intended to constitute an offer of securities or a solicitation for investment in securities in any jurisdiction. No person is bound to enter into any contract or binding legal commitment. Please note the publication, distribution and dissemination of the Available Information does not imply that the applicable laws, regulatory requirements or rules have been complied with.

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