Government-required identity & anti-fraud checks secure all transactions. Why Do We Need This?
Since this is a financial transaction we are required by regulators like the SEC & US Department of Treasury to perform AML (Anti Money Laundering) & KYC (Know Your Customer) verification in order to avoid money laundering, fraud, and identity theft.
Our broker-dealer, DealMaker Securities, LLC uses a Taxpayer Identification Number (TIN), for example Social Security Number (SSN), Employment Identification Number (EIN), Individual Tax Identification Number (ITIN) to fulfill its responsibilities with its Anti-Money Laundering (AML) Program as required by the Bank Secrecy Act (BSA) and its implementing regulations and FINRA Rule 3310 (AML Compliance Program) by requesting, reviewing, and verifying data and documentation provided during securities transactions, prior to acceptance.
Here’s why they are required for startup investments:
1.
Preventing Illegal Activities: Money laundering involves the concealment or disguise of money derived from criminal origins by processing it through a single or series of transactions to make it appear as if it comes from a legal, legitimate source or constitute legitimate assets. Having a verification process, whereby investors are reviewed, checked against governmental databases, and all investment funds are evaluated, startups can feel confident they are protecting themselves from civil and criminal penalties and preventing terrorist financing, drug trafficking, tax evasion, corruption, fraud, and other financial crimes.
2.
Identity Verification/Data: KYC processes help collect essential pieces of data and verify the identity and authority of the investors, ensuring that they are indeed who they claim to be and are authorized to process the transaction they seek to make. This protects against identity theft and fraud.
3.
Regulatory Compliance: Compliance with AML and KYC requirements is mandatory in many jurisdictions. Failure to comply can lead to severe civil penalties, including heavy fines, and even criminal penalties.
FAQs
Common
As a company which has raised crowdfunding capital, Miso publicly files annual Securities and Exchange Commission (SEC) reports and audits, which include in-depth information about the company’s financial performance. You can find that information on the SEC’s site called Edgar, which you can access here: https://www.sec.gov/edgar/searchedgar/companysearch.
You are investing in a pre-revenue company. Success will be measured in progress towards revenue. Future liquidation events could include acquisition or an IPO.
In the second half of 2023, Miso’s new management team implemented significant cost reduction efforts, reducing its average monthly cash operating burn by over 30%. In 2024, it has further reduced those costs by an additional 10%. Efforts include restructuring office leases created prior to the pandemic, adjusting equipment leasing facilities, staff reorganization, and focusing on higher-priority partnerships by removing outdated and expensive-to-support Flippy units.
Miso owns 23 patents in various stages, and, perhaps more so than any other company in the world, gathers extensive, proprietary data on AI and robotics frying in real kitchen environments. The "Advanced Data Solutions" initiative, launched in 2023, focuses on leveraging this data for better decision-making, providing actionable insights, and exploring external monetization opportunities. More information will become available about these efforts as they develop.
The company decided to extend this same per share price to crowdfunding investors by taking into consideration the state of Miso, its path to meaningful revenue, and global economic market conditions that finally appear poised to improve.