[ANN][STO] Pivent | A mining company focused on socioeconomic change - STO LIVE

[Pivent]

Pivent is pleased to announce our PI Security Token Offering is now live. This is an opportunity to earn cryptocurrencies, own equity in the company, and change the world by engaging in socioeconomic initiatives that help drive diversity and inclusion.

STO Start Date: May 13, 2019
STO End Date: April 17, 2020 (or sooner)
PI Token Price: $0.04 USD/token
Investor Check Fee:

• US Investors: $75 USD (This will be reimbursed with 1,875 PI Tokens upon passing the investor checks and completing the purchase of at least 1,875 PI Tokens.)
• Non-US Investors: $5 USD (This will be reimbursed with 125 PI Tokens upon passing the investor checks and completing the purchase of at least 125 PI Tokens.)

As this is an investment in a company, there is no soft cap. Any funds raised will be used to start growing our mining operation immediately.

Website
https://pivent.com

Introduction Video (61 seconds)
https://youtu.be/20Ywc0mhGVU

Pitch Deck
https://pivent.com/deck

Engage with us on:

Twitter
https://twitter.com/piventinc

Facebook
https://www.facebook.com/piventinc

Telegram
https://t.me/piventinc

LinkedIn
https://www.linkedin.com/company/piventinc

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[valta4065]

What is your advantage over Ice Rock Mining? You plan to mine ZEC instead of bitcoin, if I understand correctly?
What about your price of electricity? If you want to be competitive, you need cheap electricity.

[Pivent]

What is your advantage over Ice Rock Mining? You plan to mine ZEC instead of bitcoin, if I understand correctly?
What about your price of electricity? If you want to be competitive, you need cheap electricity.

What differentiates us from Ice Rock Mining?

• We are launching an STO that is registered with the SEC and the PI security token carries with it voting rights as well as profit sharing.
• Our company is focused on finding other applications of cryptocurrency mining to help drive socioeconomic change.

We feel the second point should be the biggest reason an investor should choose Pivent over other mining operations. Giving back and building diverse and inclusive communities will help build a better society. Take our first initiative to take on rising housing costs. Where I live, families are facing tough decisions due to the ever rising price of rent, home prices, and taxes. These families eventually have no choice but to move to more affordable areas. When they move away, they leave behind their community. More importantly, they take their different perspectives. This scenarios similar to this occur across the US daily. What if we could change this to be the exception and not the norm. Well, that is what our first initiative aims to tackle. We will be building mining units that can be installed in to homes and work with non-profits to help identify potential families that could benefit from our program. This will allow us to help offset the rising cost of housing while also allowing us to distribute our mining operations across a larger area.

Yes, we plan to mine coins that use the Equihash algorithm. We will also be using FPGAs to target coins with other algorithms such as Tribus and Nexus. Long term we will shift to using more FPGAs than ASICs as we build up our library of bitstreams and the offering of FPGA equipment improves. This will give us the ability to provide computing power to a variety of projects that need help securing their network.

Currently, our electric costs are around $0.10/KwH. However, we believe that we can get this cost down to around $0.05/KwH as our operation grows to 3+ MW. This cost can be driven even lower once we are able to start taking advantage of solar power with battery backup (like an array of Tesla Powerwalls).

[Bowtiesarecool]

So this is a one-man operation or something? (BTW, clicking on the linkedin link returns an error. URL leads to https://pivent.com/www.linkedin.com/in/ericchanney instead of https://www.linkedin.com/in/ericchanney/)

Also according to your roadmap, SEC registration is currently in progress rather than the "...is registered with the SEC" I'd initially thought. Any ETA on when this registration will be done?

[Pivent]

So this is a one-man operation or something?

We are a team of two at the moment. Officially, Eric is managing the day to day operations full-time. Once we purchase our first facility and order the equipment, we will be adding one additional team member that is an experienced engineer and miner.

(BTW, clicking on the linkedin link returns an error. URL leads to https://pivent.com/www.linkedin.com/in/ericchanney instead of https://www.linkedin.com/in/ericchanney/)

Thanks for pointing this out. It has been fixed.

Also according to your roadmap, SEC registration is currently in progress rather than the "...is registered with the SEC" I'd initially thought. Any ETA on when this registration will be done?

All of the items for Q1 2019 have been completed and we are currently working towards completing the goals for Q2 2019. The website has been updated to reflect this status. We filed with the SEC using Rule 506(c) of Regulation D. This was filed with the SEC on 02/27/2019 and accepted/completed by the SEC the same day. With this we are compliant with US securities laws and can proceed with our STO.

https://sec.report/Document/0001769250-19-000001

[dzkrb1966]

Your mining center is impressive. The question is this. SEC does not bother you? Why don't you use newer technologies in the protocol. ERC-20 is already outdated. Now they already use ERC-721 and even newer ones.

[Pivent]

Your mining center is impressive. The question is this. SEC does not bother you?

We are following the guidelines set by the SEC for our filing to make sure that we stay compliant with our offering. This is why all investors will need to complete and pass KYC, AML, and Accredited Investor checks, regardless of if they are US based or not. It may seem to be a little overkill, but provides the best protection for the company and our investors.

Why don't you use newer technologies in the protocol. ERC-20 is already outdated. Now they already use ERC-721 and even newer ones.

The PI security token is a ST-20 token issued through the Polymath platform. The ST-20 token is compliant with the ERC-1400 standard, which the Polymath team helped to develop.

[dihari]

https://sec.report/Document/0001769250-19-000001

Good to see you have filled the legal documents before asking for fund.
Is that mean the STO will be available for US residents?

[Pivent]

https://sec.report/Document/0001769250-19-000001

Good to see you have completed the legal documents before asking for fund.
Is that mean the STO will be available for US residents?

Yes, the STO will be available for US residents as well as international investors that are accredited and can pass the KYC/AML checks.

[Bowtiesarecool]

So this is a one-man operation or something?

We are a team of two at the moment. Officially, Eric is managing the day to day operations full-time. Once we purchase our first facility and order the equipment, we will be adding one additional team member that is an experienced engineer and miner.

(BTW, clicking on the linkedin link returns an error. URL leads to https://pivent.com/www.linkedin.com/in/ericchanney instead of https://www.linkedin.com/in/ericchanney/)

Thanks for pointing this out. It has been fixed.

Also according to your roadmap, SEC registration is currently in progress rather than the "...is registered with the SEC" I'd initially thought. Any ETA on when this registration will be done?

All of the items for Q1 2019 have been completed and we are currently working towards completing the goals for Q2 2019. The website has been updated to reflect this status. We filed with the SEC using Rule 506(c) of Regulation D. This was filed with the SEC on 02/27/2019 and accepted/completed by the SEC the same day. With this we are compliant with US securities laws and can proceed with our STO.

https://sec.report/Document/0001769250-19-000001

Glad to see the situation getting promptly addressed and fixed. Didn't know you'll be issuing the token via Polymath. Definitely got my attention now. Will be keeping any eye on this and taking a second look at all available materials.

[Saidmod]

So this is a one-man operation or something?

We are a team of two at the moment. Officially, Eric is managing the day to day operations full-time. Once we purchase our first facility and order the equipment, we will be adding one additional team member that is an experienced engineer and miner.

(BTW, clicking on the linkedin link returns an error. URL leads to https://pivent.com/www.linkedin.com/in/ericchanney instead of https://www.linkedin.com/in/ericchanney/)

Thanks for pointing this out. It has been fixed.

Also according to your roadmap, SEC registration is currently in progress rather than the "...is registered with the SEC" I'd initially thought. Any ETA on when this registration will be done?

All of the items for Q1 2019 have been completed and we are currently working towards completing the goals for Q2 2019. The website has been updated to reflect this status. We filed with the SEC using Rule 506(c) of Regulation D. This was filed with the SEC on 02/27/2019 and accepted/completed by the SEC the same day. With this we are compliant with US securities laws and can proceed with our STO.

https://sec.report/Document/0001769250-19-000001

Glad to see the situation getting promptly addressed and fixed. Didn't know you'll be issuing the token via Polymath. Definitely got my attention now. Will be keeping any eye on this and taking a second look at all available materials.

How this project was planned and by its team now lets say that your team will add one more team members, from this i am thinking how many people will be add or joined on this Pivent ? Typically its not a good thing to start and post it here without a proper team structure that would represent this Pivent. It would be great if it will be posted once everything is set, its only my suggestion/opinion .

[Pivent]

So this is a one-man operation or something?

We are a team of two at the moment. Officially, Eric is managing the day to day operations full-time. Once we purchase our first facility and order the equipment, we will be adding one additional team member that is an experienced engineer and miner.

(BTW, clicking on the linkedin link returns an error. URL leads to https://pivent.com/www.linkedin.com/in/ericchanney instead of https://www.linkedin.com/in/ericchanney/)

Thanks for pointing this out. It has been fixed.

Also according to your roadmap, SEC registration is currently in progress rather than the "...is registered with the SEC" I'd initially thought. Any ETA on when this registration will be done?

All of the items for Q1 2019 have been completed and we are currently working towards completing the goals for Q2 2019. The website has been updated to reflect this status. We filed with the SEC using Rule 506(c) of Regulation D. This was filed with the SEC on 02/27/2019 and accepted/completed by the SEC the same day. With this we are compliant with US securities laws and can proceed with our STO.

https://sec.report/Document/0001769250-19-000001

Glad to see the situation getting promptly addressed and fixed. Didn't know you'll be issuing the token via Polymath. Definitely got my attention now. Will be keeping any eye on this and taking a second look at all available materials.

Yes, we evaluated other platforms for issuing security tokens and Polymath's platform was the best fit for us.

[Pivent]

So this is a one-man operation or something?

We are a team of two at the moment. Officially, Eric is managing the day to day operations full-time. Once we purchase our first facility and order the equipment, we will be adding one additional team member that is an experienced engineer and miner.

(BTW, clicking on the linkedin link returns an error. URL leads to https://pivent.com/www.linkedin.com/in/ericchanney instead of https://www.linkedin.com/in/ericchanney/)

Thanks for pointing this out. It has been fixed.

Also according to your roadmap, SEC registration is currently in progress rather than the "...is registered with the SEC" I'd initially thought. Any ETA on when this registration will be done?

All of the items for Q1 2019 have been completed and we are currently working towards completing the goals for Q2 2019. The website has been updated to reflect this status. We filed with the SEC using Rule 506(c) of Regulation D. This was filed with the SEC on 02/27/2019 and accepted/completed by the SEC the same day. With this we are compliant with US securities laws and can proceed with our STO.

https://sec.report/Document/0001769250-19-000001

Glad to see the situation getting promptly addressed and fixed. Didn't know you'll be issuing the token via Polymath. Definitely got my attention now. Will be keeping any eye on this and taking a second look at all available materials.

How this project was planned and by its team now lets say that your team will add one more team members, from this i am thinking how many people will be add or joined on this Pivent ? Typically its not a good thing to start and post it here without a proper team structure that would represent this Pivent. It would be great if it will be posted once everything is set, its only my suggestion/opinion .

Thank you for your opinion, as others may be thinking the same.

To clarify, there is a difference between operational team and founding team. The founding team consists of one person and will remain one. The operational team consists of two people. Once we hit our soft cap, we will be purchasing our first facility and ordering equipment. At this point, we will be bringing on an additional team member to help with the setup and management of the equipment. As Pivent grows, we will be purchasing more property and facilities to grow the mining operations. In order to support this growing infrastructure, Pivent will add team members as they are needed.

[dzkrb1966]

Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?

[Pivent]

Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?

Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors.

[tippytoes]

Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?

Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors.

So you need to be aggressive with your STO phase. Does it mean also that you are dependent with the funds raised if this platform is a go or no go? You have your documents in place already that shows your sincerity for this project but in the worst case scenario, what if you didn't hit your target funds? Any plans afterwards?

[Pivent]

Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?

Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors.

So you need to be aggressive with your STO phase. Does it mean also that you are dependent with the funds raised if this platform is a go or no go? You have your documents in place already that shows your sincerity for this project but in the worst case scenario, what if you didn't hit your target funds? Any plans afterwards?

The expansion of our mining operation is dependent on the funds raised. At a minimum, we will need to purchase our first facility in order to continue growing. If we do not hit our soft cap of $500k by the end of the STO, then we will refund all of the funds back to the investors. The mining operation will go on, but will grow very slowly given today's environment. This would be done by swapping aging ASIC equipment out for FPGA equipment, as they are important to our long term goals. We'll also push for our socioeconomic initiatives, just in a limited capacity.

[feryjhie]

Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?

Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors.

if the ico is a success and you reach the hard cap.
so in which country/location that you mining will works?

[Pivent]

Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?

Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors.

if the ico is a success and you reach the hard cap.
so in which country/location that you mining will works?

We will be starting in US, more specifically Washington State. Once the hard cap is reached, we can start the work with our local electric company to provision the first location with 3 MWs of power which is primarily sourced by hydroelectric (~90%) and nuclear power (~9%).

[tippytoes]

Does this mean that while you do not have the equipment about which you shot the video? Or are you going to buy it with funds raised from investors?

Yes, we will be purchasing the equipment and our first mining facility using the funds raised from investors.

So you need to be aggressive with your STO phase. Does it mean also that you are dependent with the funds raised if this platform is a go or no go? You have your documents in place already that shows your sincerity for this project but in the worst case scenario, what if you didn't hit your target funds? Any plans afterwards?

The expansion of our mining operation is dependent on the funds raised. At a minimum, we will need to purchase our first facility in order to continue growing. If we do not hit our soft cap of $500k by the end of the STO, then we will refund all of the funds back to the investors. The mining operation will go on, but will grow very slowly given today's environment. This would be done by swapping aging ASIC equipment out for FPGA equipment, as they are important to our long term goals. We'll also push for our socioeconomic initiatives, just in a limited capacity.

Thank you for being transparent with your plans. I asked such question because there is no guarantee that a certain project can always achieve their soft cap even via STO, which is I believe better than ICO. At least we know that you are still pursuing your platform if in case you are not able to hit your soft cap. This is the usual bottleneck of most projects.