Under the terms and conditions of the Settlement Order with the United States Securities and Exchange Commission (the "SEC Order"), the Company is notifying all persons and entities that the Company will administer a claims process for those who participated in Tierion’s July 2017 sale of TNT tokens (the “Token Sale”) or currently hold TNT. Those who elect to participate must submit a completed claim form along with certain required supporting documentation, and supply the data necessary to process a claim, to be eligible to receive a payment.
In accordance with the settlement terms, the TNT token smart contract has been permanently paused and the Company has also made reasonable efforts to contact all digital asset market trading platforms where TNT trades, notifying them of the SEC Order and requesting that platforms halt all trading in TNT.
Claimants must meet one or more of the following classifications in order to participate in the claims process:
1. In the event you purchased TNT in the Token Sale and currently hold one or more of them, Tierion is offering to pay you the $USD value of the total TNT you purchased in the Token Sale based on the price paid by you to Tierion (i.e., “Token Sale Purchasers”) at the time of the Token Sale, with interest thereon, minus the total $USD value of your sales of TNT purchased in the Token Sale.
2. In the event you purchased TNT in the Token Sale and sold all of them at an aggregate loss, Tierion is offering to pay you the $USD value of the total TNT you purchased in the Token Sale based on the $USD price paid by you to Tierion, at the time of the Token Sale, minus the total $USD value of your sales of all the TNT purchased by you in the Token Sale, with interest thereon.
3. In the event you purchased TNT in the secondary market and currently hold one or more of those TNT, Tierion is offering to pay you the $USD value of such TNT purchased and currently held, based on the price per token paid by you not to exceed the original Token Sale price of $.072USD per token, minus the $USD value of any gains you made from sales of TNT purchased in secondary markets and the $USD value of the sale of any TNT you received as rewards for operating a public Tierion Node.
4. In the event you received TNT from operating a public Tierion Node, Tierion is offering to pay you $.01USD per such token that you currently hold, minus the $USD value of the sale of any TNT you received as rewards and the $USD value of any gains made from sales of your TNT purchased in secondary markets.
If you determine to proceed with the claims process, follow these instructions and procedures.
Complete the Claim Form below and provide the required supporting documentation. It is recommended that claimants submit their supporting documents in English. The completed Claim Form and all required supporting documentation must be mailed to the Company and received by February 21, 2021.
In addition to this Claim Form, the following documentation must be submitted:
Once your Claim Form has been received and reviewed, you will receive an email with instructions for accessing a Claims Processing System (“CPS”). Claimants will have 10 days to complete the following tasks and provide the data necessary to process the claim. Data provided via the CPS must match the data mailed in with your Claim Form.
All claimants must complete a KYC/AML check. This includes uploading and verifying a photo of a valid government ID.
To verify Ethereum address ownership, claimants must send a zero balance ETH transaction from all addresses that currently hold TNT.
For each exchange account, claimants must supply their complete trading, deposit, and withdrawal history for all TNT trading pairs, along with a read-only API key. This will be used to confirm the completeness and accuracy of your reported trading history, and to calculate any amounts due under the terms laid out in the Settlement Order. All on-exchange trades after the TNT smart contract is paused are invalid.
Claimants that received TNT as rewards must supply their complete history of rewards transactions, including the sales of any rewarded TNT. For each reward, claimants must supply their Node reward address, reward transaction id, and reward amount.
Each claim will be reviewed to determine veracity of the claims data and conduct anti-fraud checks. The analysis from this review will be used to determine if the claim is valid and calculate if any amount is due to the Claimant. Claimant data and the results of this review may be shared with the SEC or other government agencies.
All claims will be paid in U.S. Dollars. Please be advised that any claim made pursuant to this process may have tax implications, and Claimants are responsible for paying any taxes due. The Company cannot provide tax advice and encourages claimants to consult appropriate tax and accounting advisors.
The SEC Order requires the Company to obtain – and report to the SEC – a monthly report of the claims received and the claims paid under our claims process, including (a) identifying information about each claimant; (b) the amount of each claim; (c) the resolution of each claim, including the amount of each payment; (d) identification of all claims not paid and the reasons for all non-payment of claims; and (e) a list of all complaints received and how the Company addressed each complaint. The Company will also provide the SEC with any related additional information or documentation reasonably requested by the SEC, such as documentation submitted by the Claimant and documentation supporting the Company's decision regarding the claim. In response to any objections by the SEC to the Company's handling of one or more claims, the Company will reconsider its decision(s) in light of the objection and will provide a written explanation to the SEC of its decision following reconsideration. This information may be shared with other government agencies.
The claims period will expire on February 21, 2021 (the "Expiration Date"). A completed Claim Form and all required supporting documentation must be mailed to the following address and received by the Expiration Date:
TNT Claims Administrator
P.O. Box 1208
Austin, TX 78767
All completed Claim Forms that are received before the Expiration Date will be reviewed and processed in accordance with the terms and provisions set forth herein and the SEC Order. Claimants will receive a written response within three months of the Expiration Date.
COMPLETED CLAIM FORMS AND SUPPORTING DOCUMENTATION MUST BE RECEIVED NO LATER THAN FEBRUARY 21, 2021. CLAIMS RECEIVED AFTER THAT DATE WILL NOT BE PROCESSED.Download Claim Form (PDF)