How Untreadable Works -In Depth-

How Untreadable Works -In Depth-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1. Untreadable works on top of the TF Empires crowdfunding platform. See how the TF Empires crowdfunding system works. Untreadable founders create projects with a mission. Backers in support of that mission fund the projects. Over the period of a total of 5 years the backers will receive rewards or “benefits” in return for backing the project. That is the basics.
 
2. Untreadable expects that many of these projects will be substantial, and therefore require substantial funding. This is not because we are a platform of change. We expect large projects, even projects that seem impossible, because change requires perseverance and massive devotion. The reason for the rewards being delivered over a period of 5 years (6 years total with a 1 year leeway between the project’s completion and the beginning of the 5 years), is that we oftentimes expect these projects to require heavy immediate funding with little to no immediate return to the founder.
 
3. Backers pledge money for a project over a period of no more than 90 days. Once the project has met its funding goal the founder collects the pledged funds from the backers. If a project fails to meet its minimum funding amount within the 90-day period, the backers keep the pledged money and the project “closes”. It is important to note that funds are not “captured” until either of the following conditions are met:
  • The founder has secured the “minimum funding amount” by the project’s end date and has reason to expect the success of the project going forward, and has released a “going-forward” resolution to the backers. OR;
  • A substantial amount being no less than 50% of the required funds to meet the “minimum launch amount” has been pledged within 14 days (in some cases 21 days) of the campaign’s start date, and there is reasonable expectation that the project will succeed, and the founder has notified the backers and has released a “going-forward” resolution to the backers.
4. Backers have the right to email and make inquiries regarding the project, risks, etc. However, founders have no obligation to provide information they deem endangers their business’s success or breaches their own privacy. Both backers and founders should contact Untreadable or TF Empires support if anyone ever requests sensitive information from another person.
 
5. Untreadable reserves, in its sole discretion, the right, without limitation, to remove any portion of a project or user content that violates our Terms of Use or any other Policy.
 
6. Backers have the right at any time (excepting the 48 hours preceding the project’s end date) to withdraw pledge(s).
 
7. Founders and backers should be aware of the risks involved with rewards-based crowdfunding. It is solely the responsibility of the founders and backers to evaluate the truthfulness and validity of all statements, user content, etc. of any project before they decide to support a project. There is no guarantee of success for any project or founder. founders could devote much time and effort and even money to a project that fails. Founders and backers need to be aware of these risks, before investing in either founding or backing a project.
 
8. Founders are highly encouraged to mitigate as many risks as possible through alternate sources of investment or income. Founders are encouraged to include in their project details a “risk and management plan” that specifies different risks and their actions to avert them. We do not expect or request founders to reveal any information that would encroach or breach a founder’s privacy or reveal any information that could breach a company’s trade secrets. We do encourage 
 
9. By pledging for a project, backers agree to hold Goldevine, LLC dba Untreadable and the founder(s) harmless and release all rights to the pledged money, excepting where it can be proven that the Founder was entirely irresponsible and or made little to no attempt in following through with the project. In such cases, a backer shall have no claim, demand, or recourse against the project founder except to the extent of the amount of the backer’s pledge. This limitation of liability applies to all claims arising from or relating to the Untreadable project, including but not limited to non-fulfillment or delay in the delivery of rewards or other benefits associated with the pledge. For more information, please see our Terms of Use.
 
10. A project can meet its “minimum funding amount” before the project’s end date. After this milestone is reached, the founder may release a “going forward” resolution to the backers and pull the pledged funds. In any case where the funds are captured before the project end date, the project may (but is not required to) remain open to funding. In such cases, after the first amount has been pulled, any and all subsequent pledges will be “captured” at the time the pledge is placed.
 
11. Any “going forward” resolutions that a founder releases to backers must include all of the following information:
  • The date the funds will be pulled
  • The current amount funded
  • Plans for the successful launch of the project
  • Reasons for expecting the success of the project
  • A current risk assessment of the project going forward, and
  • Plans of how to mitigate such risks.

Furthermore, the “going forward” resolution must be released to backers no less than 3 days before pulling the project’s funds.

12. In the event that a project fails to meet the required “minimum funding amount,” the founder may “close” the project and all pledged funds will be canceled and no funds will be processed.