The Los Angeles-based Ember Fund, the developer of a digital asset portfolio application developed with a man-made intelligence (AI), plans to make a $ 1 million increase through a donor accredited by the US Securities and Exchange Commission (SEC).
The management of the Ember Fund, established in August 2018, presented its plans through a filing of the SEC; it said the company's “Crowd SAFE” securities could be sold from the beginning of the Republic to the start of the on-line fund collection platform, 12 months later. .
SAFE (easy solution for future justice) is basically a binding financing agreement that gives rights holders the right to be fair, provided that the Ember Fund decides to go public or is acquired by another entity. In order to take part in the commodity, investors are required to have a minimum participation of $ 100.
The Ember Fund is marketed as an application-based model of a digital foreign currency hedge fund that comes with an automated AI system that helps traders strategically rebalance their crypto currency portfolios. However, the company Ember should not really be a hedge fund.
The agency operates as a non-detention service under the title of Ember Fund. The firm says there is no custody of customers 'crypto property on buyers' smartphones after and after the transaction is completed.
Earlier this month, Alex Wang, CEO of the Ember Fund, announced that the company's suppliers made almost $ 2 million in their April 2019 transactions.
The company's current monetary activity has not yet been announced, but public reporting is hardly available for a hint of the 2018 range. The Embers Fund is operated by only 4 people.
SEC's treasury as of December 31, 2018, the company has $ 2,557.00 worth of money, the agency reported that the loss in 2018 was $ 24,523.00. Wang confirmed that the company has begun dealing with buyer transactions in November of the last 12 months.
The firm says the number of target funds is quite low. The Ember Fund's minimum target sale is $ 25,000, most of which is $ 1,070,000. However, Wang stated that the most recent funding is global, which means “friends and family ve and is relatively small.
Um Our hope is to really raise as little money as possible. ”
He added that the founding agency should keep all management together with its different co-founders Guillaume Torche and Mario Lazaro.
Wang said his comrades had learned about consumer purchase prices and values, which helped the organization establish an enterprise technique for its continued progress and development.
Wang said the Ember Fund would not point to anything entirely different from many different California initiatives that might be willing to trade fairly for capital.
Şirket Many companies go out without saving a business model and save a ton of money. We adopted the other approach: Let's have a business model and then enlarge it.
According to a text of the promotional video for the Ember Fund shared with the SEC, the company plans to use the Ember Fund to further increase its operations. The narrator of the video, CTO Guillaume Torche is famous:
Dık We earned about $ 10 million to the platform without any marketing budget. We are at a point where we are ready to scale. "