The answer derives from a 1946 U.S. Supreme Court case, SEC v. W.J. Howey Co., which established the "Howey test" to determine if a transaction qualifies as an "investment contract" and thus a security under the Securities Act of 1933. According to this test, an asset is a security...
During the period beginning from the date hereof and continuing to and including the date 60 days after the date of the Prospectus (the “Lock-Up Period”), not to (i) offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise transfer or ...
(ii) conflict with, result in a breach of, constitute a default under, result in the acceleration of or creation of an encumbrance under, or create in any party the right to accelerate, terminate, modify, or cancel, any agreement, contract, lease, license, instrument, or other arrangement ...
Structure Contract” and collectively the “Structure Contracts”) is in full force and effect, enforceable against such parties in accordance with its terms, and none of the parties thereto is in breach or default in the performance of any of the terms or provisions of such Structure Contract...
10(a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus...
Cryptocurrencies come under the SEC’s authority if they meet theHowey test. This standard is derived from a 1946 Supreme Court case about orange groves and has since been used to differentiate the sale of securities from other purchases. The court ruled that a contract falls under the SEC...
For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “...
our expectations regarding our relationships with customers, contract manufacturers, component suppliers, third-party service providers, strategic partners and other stakeholders; • competition in our industry; • relevant government policies and regulations relating to our industry; and • ass...
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Total contract amount of these two contracts was approximately US$4.96 million. As of June 30, 2021, the Company had paid approximately US$4.41 million in the aggregate. The remaining unpaid contract amount is expected to be paid during the year ending December 31, 2021. 25 ZW DATA ACTION...