Kodak’s ICO was supposed to begin last night but the company has announced the delay of the launch of its KODAKCoin token in order to give the company time to vet the surge of potential investors. The company said it plans to verify the roughly 40,000 applications it’s received for investing in KODAKCoin. Kodak expects this process to take several weeks.
According to the announcement, accredited investors are those persons whose individual net worth, or joint net worth with his or her spouse, exceeds $1 million, or who had an individual income in excess of $200,000, or joint income with his or her spouse in excess of $300,000, in each of the two most recent years, and has a reasonable expectation of reaching the same income level in the current year.
KodakCoin will be offered to accredited investors from the U.S., UK, Canada and other select countries. Outside the U.S., it will be offered to select non-US persons in accordance with the applicable laws of each jurisdiction where such offers and sales occur.
The company also warned investors against fake KodakCoin ICO pages appearing on Facebook and other websites, and that investors would not be able to purchase tokens outside the company's official platform.