{"id":"court_sdny_273_2","court":"SDNY","case_no":"23-cr-00118","doc_number":273,"sub_number":2,"doc_type":"EXHIBIT","filed_date":null,"title":"EXHIBIT B ","summary_zh":"保密投资备忘录 —— 美国诉 Ho Wan Kwok（郭文贵 / Guo Wengui / Miles Guo）案，SDNY 1:23-cr-00118 ECF #273。案卷证物 B 为 GTV Media Group 发布的保密信息备忘录，概述拟议业务计划、投资条款与相关风险因素。","summary_en":"Confidential Investment Memorandum —— United States v. Ho Wan Kwok (Miles Guo), SDNY 1:23-cr-00118 ECF #273. Exhibit B is a confidential information memorandum issued by GTV Media Group, outlining proposed business plans, investment terms, and associated risk factors.","body_en":"# EXHIBIT B\n\n\n\n#### **CONFIDENTIAL INFORMATION MEMORANDUM**\n\n## **GTV Media Group, Inc.**\n\n**April 20, 2020**\n\n## **PRIVATE AND CONFIDENTIAL NOT TO BE REPRODUCED**\n\n**NEITHER THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION (\"SEC\" OR \"COMMISSION\") NOR ANY STATE SECURITIES ADMINISTRATOR HAS PASSED UPON THE ADEQUACY OR ACCURACY OF THE INFORMATION CONTAINED IN THIS CONFIDENTIAL INFORMATION MEMORANDUM OR THE MERITS OF AN INVESTMENT IN THE SECURITIES DESCRIBED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.**\n\n**THE SECURITIES DESCRIBED HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND WILL BE OFFERED IN RELIANCE UPON CERTAIN EXEMPTIONS FROM REGISTRATION UNDER SUCH LAWS. SUCH EXEMPTIONS IMPOSE SUBSTANTIAL RESTRICTIONS ON THE SUBSEQUENT TRANSFER OF SECURITIES SUCH THAT AN INVESTOR HEREIN MAY NOT SUBSEQUENTLY RESELL THE SECURITIES DESCRIBED HEREIN UNLESS THE SECURITIES ARE SUBSEQUENTLY REGISTERED UNDER APPLICABLE FEDERAL AND STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. ANY INVESTMENT IN THE SEURITIES DESCRIBED HEREIN ENTAILS SUBSTANTIAL RISKS. SEE \"INVESTOR SUITABILITY AND ACCREDITED INVESTORS\" AND \"RISK FACTORS\".**\n\n\n\n#### **Confidentiality and Disclaimer**\n\nThis confidential information memorandum (\"Memorandum\") is intended for discussion purposes with select parties interested in evaluating an opportunity to invest capital into GTV Media Group, Inc. (the \"Company\" or \"GTV Media\"). GTV Media is a newly formed company incorporated in April 2020. All descriptions of the business of GTV Media in this document refers to business GTV Media intends to do in the future. There is no guarantee that GTV Media will enter into those identified businesses or that GTV Media will be successful in those business.\n\nBy accepting this Memorandum, the recipient agrees that neither it nor its agents, representatives, directors or employees will copy, reproduce or distribute to others the memorandum, in whole or in part, without the prior written consent of the Company. The recipient also agrees to keep confidential all information contained in the memorandum which is not already in the public domain and to use this memorandum for the sole purpose of considering an investment in the Company. This confidential memorandum is subject to completion, amendment and, if appropriate, correction.\n\nNeither GTV Media, Saraca Media Group, Inc (GTV Media's parent company) nor any other party mentioned herein shall have any liability for omissions from, or any express or implied representations in, this memorandum or any other written or oral communication transmitted to any party, and any such liability is expressly disclaimed. Only those particular representations and warranties, which may be made in a definitive agreement, when and if one is executed, will have any legal effect.\n\nThis memorandum includes certain statements, estimates and projections provided by management of the Company with respect to the anticipated future performance of the Company. Such statements, estimates and projections reflect significant assumptions and subjective judgments concerning anticipated results. These assumptions and judgments may or may not prove to be correct and there can be no assurance that any projected results are attainable or will be realized.\n\nYou may not rely upon this document in evaluating the merits of participating in any transaction referred to herein. This document contains only selected information and does not purport to be all-inclusive or to contain all of the information that may be relevant to your participation in any such transaction. This document does not constitute and should not be interpreted as either a recommendation or advice, including investment, legal, financial, tax or accounting advice.\n\nThis document does not constitute an offer or invitation to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis of any contract or commitment for the purchase or transfer of securities. The sole purpose of the Memorandum is to assist Interested Parties in deciding whether to proceed with a further investigation and evaluation in connection with their consideration of the investment. Accordingly, Interested Parties will be responsible, at their own cost, for obtaining or verifying to their satisfaction all information they consider necessary for their own independent evaluation.\n\n\n\nThis document is being distributed to accredited investors only. This document is being furnished to you solely for your information and must not be reproduced or redistributed to any other person. THIS DOCUMENT OR ANY COPY OF IT SHALL NOT BE DISTRIBUTED TO ANY INVESTORS WHO ARE NOT ACCREDITED INVESTORS.\n\nAny person receiving this document and wishing to affect a transaction discussed herein, must do so in accordance with applicable law. Any transaction implementing any proposal discussed in this document shall be exclusively upon the terms and subject to the conditions set out in the definitive transaction agreements.\n\nThis memorandum will remain property of the Company, which reserves the right to require the return of the memorandum, together with any copies or extracts, at any time. GTV Media reserves the right, in its sole and absolute discretion, to reject any and all proposals made by or on behalf of any Interested Party to terminate further participation in the investigation and proposed process by, or any discussions or negotiations with, any Interested Party at any time or to terminate the proposed process at any time. GTV Media does not intend to update or otherwise revise this Memorandum after the date hereof, but reserves the right to adjust deadlines at any time as it sees fit to meet its own needs and will inform Interested Parties as required.\n\n#### **Contact Information**\n\nQuestions relating to the information containing in this Memorandum and requests for additional information should be directed to GTV Media.\n\nThe contact details are:\n\nGTV Media Group, Inc. 162 E. 64th Street New York, NY10065 United States\n\nTelephone (Text and WhatsApp messages only): +1 (347) 439 5584\n\n\n\n#### **FORWARD LOOKING STATEMENTS**\n\nSome of the statements in this Memorandum constitute forward-looking statements. These statements relate to future events or the Company's anticipated future financial performance. In some cases, you can identify forward-looking statements by terminology such as \"may,\" \"will,\" \"should,\" \"could,\" \"expects,\" \"plans,\" \"intends,\" \"anticipates,\" \"believes,\" \"estimates,\" \"predicts,\" \"potential\" or \"continue\" or the negative of such terms and other comparable terminology. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. All forward-looking statements should be read with caution with the understanding that many factors both within and outside the control of the Company and its management will likely lead to future results, levels of activity, performance or achievements materially different from those projected or anticipated at this time.\n\n\n\n#### **TABLE OF CONTENTS**\n\n| | | Page |\n|----|-------------------------------------------------|------|\n| 1. | Vision, Mission and Goals | 6 |\n| 2. | Background | 6 |\n| 3. | Proposed Transaction | 9 |\n| 4. | Use of Proceeds | 10 |\n| 5. | Investment Highlights | 11 |\n| 6. | Board of Directors and the Sponsor | 12 |\n| 7. | Summary of Investment Terms | 16 |\n| 8. | Investment Suitability and Accredited Investors | 16 |\n| 9. | Risk Factors | 18 |\n\n#### **1. Vision, Mission and Goals**\n\n#### *1.1 Vision*\n\nTo become the world's most trusted platform between China and the rest of the world.\n\n#### *1.2 Mission*\n\nTo build the most popular and safest social media and transaction platform independent of the Chinese government's censorship and monitoring, allowing the people of China and the world to realize the freedom of speech and trade.\n\n#### *1.3 Goals*\n\n- To create a unique and the only news-focused social media platform revealing the truth about China;\n- To build an online business trading platform, free of control by the Chinese Communist Party, focused on the 1.4 billion Chinese people for their personal and business transactions;\n- To be the safest platform to advocate for TRUTH, FREEDOM of speech and religion, justice, human rights and democracy in China; and\n- To be a bridge between China and the Western world, and allowing for free and open communication, business transactions and trading, uncensored by the Chinese government.\n\n#### **2. Background**\n\nGTV Media was established in Delaware, U.S.A on April 17, 2020 by Saraca Media Group, Inc. (\"Saraca\"). Saraca and its sponsor, Mr. Wangui Guo, have been operating independent news and social media platforms, including Guo Media, GNews and GPost for nearly three years, accumulating a vast audience and wide support. Recently, Saraca established a new web and mobile application channel named GTV, a news-focused social media platform. The channel has not been\n\n\n\nofficially launched yet but the initial response for this new channel during the testing period has been enormous. The initial testing of the web version of GTV for one week (from April 5, 2020 to April 12, 2020) attracted over 97,994 unique visitors and over 774 million view requests. Saraca decided to establish a new company, GTV Media, to own and operate the GTV channel in the future. Saraca will contribute all assets of the GTV channel to GTV Media.\n\nSaraca is a leading company in reporting truth and original news about China and exposing the corruption of senior Chinese government officials. GTV Media's core business will be to operate the GTV website [\\(http](http) for the testing version; with the official version found at [http)](http) and the GTV Mobile Applications (which can be downloaded in the Apple Store G-TV: social networking).\n\nGTV Media is the first ever platform which will combine the power of **citizen journalism** and **social news** with state-of-the-art technology, big data, artificial intelligence, block-chain technology and real-time interactive communication. With the tight censorship of all the media and news content by the Chinese government, the Western world and the people of China have no way to get the truth about China. With the combination of citizen journalists and technology, GTV Media plans to deliver first-hand, original and true information about China to the world and the people of China. Our business plan for the GTV channel will includes incorporating the following key features:\n\n#### *2.1 Our plan to allow the Chinese people to communicate freely with the western world:*\n\n- Which should enable 1.4 billion Chinese and millions of overseas diasporas to use the internet and world business information safely and freely for personal communication, meetings, and business transactions;\n- Becoming the only real-time interactive communication platform for all Chinese people to exchange information, socialize, conduct business meetings, and exchange political information with the United States and the Western civilized world; and\n\n• Having Chinese and English versions currently, allowing a truly a multilingual social media platform to be developed.\n\n#### *2.2 Our plan is to become the most reliable and trusted online trading platform in the United States and the Western world*\n\n- The GTV platform is registered in the U.S. and subject to the supervision and protection of the U.S. laws;\n- Will utilize state-of-the-art technology including big data, artificial intelligence, 5G, and the blockchain payment system (G coin);\n- Will become the only advanced and intelligent online trading platform that allows Western and Chinese people to make transactions with full confidentially and with mutual respect.\n\n#### *2.3 With the goal of becoming a fair-trading platform between China and the West*\n\n- To establish a business platform that respects intellectual property rights, and introduces American and other Western countries' products to the vast Chinese market legally, fairly, and without political manipulation;\n- By following international best practices and regulations to establish and develop an integrated system for personal information exchange, payment and auction; and\n- Covering a vast market of 1.4 billion Chinese people and many more billion people worldwide.\n\n#### *2.4 We intend to become a multi-functional information platform*\n\n- With fair-trade online information, technology, commodities, and auction platforms;\n- Capable of engaging hundreds of millions of supporters who pursue the rule of law, democracy, and freedom in China and have supported the *Exposé Revolution* which exposes corruption, obstruction, illegality, brutality, harassment, and inhumanity in China in the past few years;\n\n- Utilizing vast resources of Chinese social media (live and recorded videos) that have been inspired by the *Exposé Revolution*;\n- Combining the industrious wisdom of the East and the norms and laws of the West, it will provide opportunities and a platform for millions of *Exposé Revolution* supporters to do business including opening online stores and conducting technical product transactions.\n\n#### *2.5 We will seek to combine the advantages of various existing media platforms to become a unique and comprehensive information platform with great potential*\n\n- To make full use of modern artificial intelligence, blockchain and 5G technology;\n- To combine the advantages of various existing media platforms and integrate their superimposed value; and\n- To fill in their gaps and meet the needs of a wider range of customers and markets, especially those where existing media platforms are being restricted in the west.\n\n#### **3. Proposed Transaction**\n\nGTV Media plans to attract the supporters and friends of Saraca and *Exposé Revolution* as investors (\"Investors**\"**) in order to: capture the growth opportunity in the social media industry; finance future growth; strengthen technology and competitiveness; and ultimately maximize shareholder value.\n\nInvestors identified by GTV Media will have an opportunity to subscribe for newly issued shares of common stock of GTV Media**.** GTV Media intends to issue a minimum of 20 million new shares and a maximum of 200 million new shares to Investors at a price of US\\$1 per share.\n\nThe group structure of GTV Media before any private placement of shares and after the private placement of shares (assuming all 200 million new shares are fully subscribed) are envisaged to be as follows:\n\n\n\n#### **4. Use of Proceeds**\n\nGTV Media plans to use the proceeds from a private placement to expand and strengthen the business. The contemplated use of proceeds is as follows:\n\n| Description | Percentage of Proceeds |\n|--------------------------------------------------------|-----------------------------------------------------------------|\n| Acquisition of companies to strengthen and grow
GTV | Approximate 70% |\n| Upgrade of GTV technology and security | Approximate 10% |\n| Marketing | Approximate 8% |\n| Working capital | Approximate 7% |\n| Other | Approximate 5% |\n| Total | 100% |\n\n\n\n#### **5. Investment Highlights**\n\nThe key planned attributes of GTV Media are highlighted below:\n\n- the only uncensored and independent bridge between China and the Western world, providing not only the truth about China to the Western world but also the true and uncensored news about the Western world to the people of China;\n- the only trusted platform for participants to freely and safely expose truth about China;\n- GTV Media believes that the Chinese media censorship firewall will be destroyed. At that time, GTV will not only become the only trusted global media platform about China but also will become the largest trusted media platform in China;\n- GTV Media shall become the freest and safest platform with 24/7 free information exchange, online voice and video, personal and business meeting capability providing:\n\t- Conference system (competitors include ZOOM and others)\n\t- Personal trading system (competitors include WeChat, TikTok and others)\n\t- Social platforms (competitors include WeChat, TikTok, Youtube and others)\n\t- Business conference supporting system (competitors include Zoom, Cisco, Citrix and others)\n\t- Online trading system (competitors include Alibaba, Amazon, Ebay and others)\n- Unparalleled multi-broadcast and multi-person video conference supporting system;\n- Original content: All content, news and views on the GTV platform will be original and first-hand information;\n- Specialist: GTV Media has a large team of social journalists (including officials with judicial and moral integrity) across China providing accurate and latest news reports;\n\n• Global: GTV has a 24/7 translation team, offering information and videos in Chinese and English. More languages will be added in the future.\n\n#### **6. Board of Directors and the Sponsor**\n\n#### *6.1 Responsibility*\n\nThe Board of Directors of GTV Media is entrusted with the responsibility for the overall management of the Company. Among other things, the Board's responsibilities include:\n\n- Setting strategy and direction of the Company\n- Setting the corporate policies\n- Monitoring managerial performance\n- Establishing necessary and appropriate board committees dealing with such matters including, among others, remunerations, financial audit, governance monitoring, risk assessment control.\n\n#### *6.2 Composition*\n\nCurrently, 3 executive directors have been appointed. The Company will invite 5 non-executive directors with financial, accounting, legal and management backgrounds. In addition, the Company is considering providing a director's seat to represent the new private investors.\n\n#### *6.2.1 Executive Directors*\n\n#### • **Yvette Y. Wang, Executive Director:**\n\n Ms. Wang is experienced in management, financial investment and merger and acquisition. She is instrumental in building Saraca's media business. Prior to joining Saraca, Ms. Wang was involved in many landmark transactions in China, including the financing of the Pangu Plaza project in Beijing, participated in the merger of the China Founder Securities and Minzu Securities and the multi-billion dollars investment into Haitong Securities. Ms. Wang is well-connected to many\n\n\n\nsenior government officials in U.S. and Europe and has completed many projects in those countries.\n\n#### • **Max Krasner, Executive Director:**\n\n Mr. Krasner is an accounting and finance professional with over 10 years of experience. He has vast experience in managing sophisticated projects, project and financial analysis, team management and training. He is in-charge of Saraca's financial and accounting function. Mr. Krasner graduated with a double major in finance and economics. He also obtained a master degree in accounting and financial management from Keller Graduate School of Management.\n\n#### • **Daniel Podhaskie, Executive Director:**\n\n Mr. Podhaskie is an attorney and has held roles as outside and in-house counsel for over ten years, advising prominent clients such as Wengui Guo, the Trump Organization, Carlos Slim, and JPMorgan. He has advised on multi-million-dollar contracts involving real estate, intellectual property and asset purchases, in addition to guiding successful litigation strategies in both domestic and cross border disputes. Mr. Podhaskie is the Managing Director of the Rule of Law Society IV, Inc., a registered 501(c)(4) that advocates for freedom of speech to and the rule of law in the People's Republic of China. Mr. Podhaskie obtained a Bachelor of Science, *cum laude* from Saint John's University in New York, and Juris Doctor, *cum laude*, from Touro College Jacob D. Fuchsberg Law Center. He has been recognized by his peers for his achievements and has been selected to the Super Lawyers New York Metro list for New York from 2017 through 2019.\n\n#### *6.2.2 Non-executive Directors*\n\n- **John A. Morgan, Non-executive Director:**\n\t- Mr. Morgan is an Olympic champion and the founder and Chairman of Morgan Joseph. His father, Henry Morgan, was\n\n\n\nthe co-founder of Morgan Stanley and his great-grandfather was J.P. Morgan, founder of J.P. Morgan & Co. Prior to founding Morgan Joseph, Mr. Morgan was the Vice Chairman of Smith Barney in charge of the firm's merger and acquisition activities. Mr. Morgan served as a trustee of the Provident Loan Society of New York and as a director of the Pierpont Morgan Library. Mr. Morgan graduated from Yale University with a Bachelor of Arts degree.\n\n#### • **Stephen K. Bannon, Non-executive Director:**\n\n Mr. Bannon was CEO of Donald Trump's 2016 presidential campaign. At the White House, he served as Chief Strategist and Senior Counselor to the President. Mr. Bannon is the founder of Citizens of the American Republic, a 501(c)4 that advocates for populism and economic nationalism. He is an award-winning documentary filmmaker and the former Executive Chairman of Breitbart News. A Goldman Sachs M&A banker, Mr. Bannon has a Master degree in National Security Studies from Georgetown University and an MBA from Harvard Business School. He was a Surface Warfare Officer serving aboard the USS Paul F. Foster (DD-964) in the western Pacific, Arabian Sea and Persian Gulf. He served at the Pentagon as a Special Assistant to the Chief of Naval Operations.\n\n#### • **Kyle Bass, Non-executive Director:**\n\n Mr. Bass is the Founder and Chief Investment Officer of Hayman Capital Management, an investment manager of private funds focused on global event-driven opportunities. Mr. Bass has managed private funds with strategies focused on sub-prime credit, European sovereign credit, the pharmaceutical industry, China, and Hong Kong. Mr. Bass is a member of the Board of Directors of the University of Texas Investment Management Company (UTIMCO), which manages approximately \\$45 billion, and is chair of the Risk Committee. In 2015, Mr. Bass was recognized as one of the Top 25 Most Influential People in the Global Patent Market as\n\n\n\nnamed by Intellectual Asset Management magazine. Mr. Bass has lectured on the Chinese financial system at various universities, including Columbia, Harvard, Stanford and Yale. Prior to forming Hayman, Mr. Bass was a Managing Director at Legg Mason and a Senior Managing Director at Bear Stearns. He graduated from Texas Christian University with a degree in finance.\n\n#### • **Darren Blanton, Non-executive Director:**\n\n Mr. Blanton is the Founder and Managing Partner of Colt Ventures, a family office he established to invest his personal capital. He has been a private investor for over 30 years and has invested in over 250 companies across all stages. He has invested in a variety of sectors including oil & gas, technology, real estate, financial services, consumer/retail, biotechnology, and horses.\n\n#### • **Aaron A. Mitchell, Non-executive Directors:**\n\n Aaron Mitchell is a founding member of Lawall & Mitchell, a law firm devoted to business development, first amendment issues, and healthcare reform. His practice includes representation of financial institutions, media companies, energy companies, healthcare providers and facilities, real estate developers, and a range of business entities and individuals in complex disputes, investigations, litigations, examinations, and administrative and enforcement proceedings. Mr. Mitchell is admitted to practice law in New York, New Jersey, Connecticut, and Pennsylvania. He received his Doctorate in Jurisprudence from Pace University School of Law.\n\n#### *6.3 Sponsor and Adviser of GTV Media*\n\nThe sponsor and adviser of GTV Media, Mr. Wengui Guo (a/k/a Miles Guo, Ho Wan Kwok or Miles Kwok), is a billionaire, a successful businessman and a dissident in China. He knows deeply how the Chinese Communist party (\"CCP\") deprives the people of China of\n\n\n\nhuman rights, justice, freedom of speech, freedom of press and freedom of religion. He is dedicated to overthrow the CCP regime to bring back truth, freedom and justice to the people of China. Miles Guo is the key host of GTV Media.\n\n#### **7. Summary of Investment Terms**\n\nGTV Media intends to issue a minimum of 20 million new shares and a maximum of 200 million new shares to Investors at a price of US\\$1 per share. In addition, investors will be required to execute and deliver a copy of the Company's stockholders agreement, which provides for certain transfer restrictions on the shares of common stock of the Company.\n\nAll transfers will be subject to the approval of the board of directors of the Company, as well as be subject to a right of first refusal in favor of the Company. Investors should read the stockholders agreement carefully.\n\n| Terms | Description |\n|-------------------------------------------------|--------------------------------------------------------------------------|\n| Issuer | GTV Media Group, Inc |\n| Share Class | Common Stock |\n| Existing Number of shares
issued | 1,800,000,000 shares |\n| New number of shares to
be issued | Up to 200,000,000 shares |\n| Offer price per share / pre-
money valuation | US\\$1 per share, equivalent to US\\$1,800 million pre-
money valuation |\n| Financing Amount | Up to US\\$200 million for 10% enlarged share capital
of the Company |\n| Target Closing | May 25, 2020 |\n\n#### **8. Investment Suitability and Accredited Investors**\n\n#### *8.1 Suitability*\n\nThe common stock of GTV Media will be offered without registration under the Securities Act of 1933, as amended (the \"Securities Act\"), in\n\n\n\nreliance upon certain exemptions therefrom and investors will be required to evidence their compliance with the certain requirements. The principal document to be used for this purpose is the Subscription Agreement. Each investor or other person making an investment decision will be required to represent as follows (without limitation): (1) the investor or investor's advisor(s) has the requisite knowledge or experience to make the investment; (2) the investor knows that the securities have not been registered under the Securities Act and the investor has no right to require such registration; (3) the investor is acquiring the securities on his, her or its own behalf, and not on behalf of any other person and not for resale to others; (4) the investor understands that the right to transfer the securities will be restricted as described herein, and no transfer will be allowed which would violate the Securities Act or applicable state securities laws; (5) the investor has no need for liquidity with respect to its investment and understands that it may lose part or all of its investment in certain cases and (6) the investor is an Accredited Investor, as defined under the Securities Act.\n\n#### *8.2 Accredited Investors*\n\nThe common stock is being sold without registration under the Securities Act pursuant to exemptions from registration, including an exemption for sales to \"**Accredited Investors**\" as defined in the Securities Act. Each investor must qualify as an Accredited Investor. In general, Accredited Investors are those investors who meet at least one of the following standards:\n\n- A. the investor is a natural person whose individual income without including his/her spouse's income was in excess of two hundred thousand (\\$200,000) dollars (or three hundred thousand (\\$300,000) dollars if the income of the individual's spouse is taken into account) in each of the last two years and who reasonably expects to have an individual income in excess of such applicable amount in the current year; or\n- B. the investor is a natural person whose individual net worth, or joint net worth with his/her spouse, not including the value of his/her principal residence, exceeds one million (\\$1,000,000) dollars; or\n- C. the investor is a corporation, partnership, limited liability company or trust:\n\n\n\n- I. in which all of the equity owners qualify as Accredited Investors under sub paragraphs (a) and (b) above; or\n- II. with total assets in excess of five million (\\$5,000,000) dollars (provided the entity was not formed for the specific purpose of investing in the common stock) and, in the case of a trust, the trust's investment decisions are made by a person whose knowledge and experience in financial and business matters demonstrate that he or she is capable of evaluating the merits and risks of this investment; or\n- III. the investor is an employee benefit plan (as defined under Title I of the Employee Retirement Income Security Act of 1974) with:\n- IV. assets in excess of five million (\\$5,000,000) dollars; or\n- V. investment decisions made by a fiduciary that is a bank, savings and loan association, insurance company or registered investment advisor; or\n- VI. if a self-directed plan, the plan's investment decisions are made solely by persons who would qualify as accredited investors.\n\nOther categories of Accredited Investors include the following: certain banks and savings and loan associations (whether acting in their individual or fiduciary capacities), certain insurance companies, federally registered investment companies, business development companies (as defined under the Investment Company Act of 1940), Small Business Investment Companies licensed by the U.S. Small Business Administration, private business development companies (as defined in the Investment Advisors Act of 1940), and tax exempt organizations (as defined in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the \"Code\") with total assets in excess of five million (\\$5,000,000) dollars which were not formed for the specific purpose of investing in the common stock. A prospective investor must represent in the transaction documents whether the prospective investor satisfies one of the foregoing standards.\n\n#### **9. Risk Factors**\n\nAn investment in the GTV Media is highly speculative, involves a high degree of risk and is suitable only for persons of substantial means who\n\nhave no need for liquidity with respect to their investment and can bear such risks, including the risk of losing their entire investment. It should be recognized that the risks set forth herein are those that, as of the date hereof, seem to the Company to be the most significant. It is suggested that a prospective investor make an independent investigation and evaluation of the risks in and the potential profitability of the Company's business. Prospective investors must realize that other factors may ultimately affect the investment offered in a manner and to a degree that cannot be foreseen. Prospective investors should carefully consider the following:\n\n#### *9.1 Risks relating to the Company's Operations*\n\n#### *The Company has no operating history.*\n\nThe Company is a newly formed company with no operating history. There can be no assurance the Company will successfully implement its business, develop any products or that it will ever operate profitably. The likelihood of its success should be considered in light of the problems, expenses, difficulties, complications and delays usually encountered by companies in their early stages of development, with low barriers to entry. The Company may not be successful in attaining the objectives necessary for it to overcome these risks and uncertainties.\n\n#### *Investments in start-up companies are very risky.*\n\nThe Company's management may be inexperienced in developing products of the type described in the Company's business plan and investors will not be able to evaluate the Company's operating history. Start-up businesses may also depend heavily upon a single customer, supplier, or employee whose departure would seriously damage the company's profitability. The demand for the company's product may be impacted by the overall economy, or the company could face other risks that are specific to its industry or type of business. The Company may also have a hard time competing against larger companies who can negotiate for provide services on a large scale more economically, or take advantage of bigger marketing budgets. Furthermore, a start-up business could face risks from lawsuits, governmental regulations, and other potential impediments to growth.\n\n#### *The Company's management has broad discretion in how the Company uses the net proceeds of the sale of common stock.*\n\nThe use of the proceeds is this memorandum is illustrative, and the Company's management will have considerable discretion over the use of proceeds from any offering. You may not have the opportunity, as part of your investment decision, to assess whether the proceeds are being used appropriately.\n\n#### *The Company may need additional capital, which may not be available.*\n\nThe Company may require funds in excess of its existing cash resources to fund operating deficits, develop new products or services, establish and expand its marketing capabilities, and finance general and administrative activities.\n\nDue to market conditions at the time the Company may need additional funding, or due to its financial condition at that time, it is possible that the Company will be unable to obtain additional funding as and when it needs it. If the Company is unable to obtain additional funding, it may not be able to repay debts when they are due and payable. If the Company is able to obtain capital it may be on unfavorable terms or terms which excessively dilute then-existing equity holders. If the Company is unable to obtain additional funding as and when needed, it could be forced to delay its development, marketing and expansion efforts and, if it continues to experience losses, potentially cease operations.\n\n#### *The Company faces significant competition*\n\nThe Company faces competition from other companies, most of which might have greater experience and financial resources than the Company. The Company's competitors are among the largest and most sophisticated companies in the world. The Company's competitors are larger and have greater financial, technical, marketing and public relations resources, larger customer bases and greater brand recognition. The Company's competitors may be able to provide customers with additional benefits and/or lower prices. The Company may be unable to match such benefits and/or prices, which may cause it\n\n\n\nto lose business and market share. One or more of the Company's competitors could offer services similar to those proposed to be offered by the Company at significantly lower prices or higher quality. If the Company is not able to charge the prices it anticipates charging for its services, there may be a material adverse effect on the Company's results of operations and financial condition.\n\n#### *The Company may not be able to manage its potential growth*\n\nFor the Company to succeed, it needs to experience significant and rapid expansion. There can be no assurance that it will achieve this expansion. This expansion, if accomplished, may place a significant strain on the Company's management, operational and financial resources. To manage any material growth, the Company will be required to implement operational and financial systems, procedures and controls. It also will be required to expand its finance, administrative and operations staff. There can be no assurance that the Company's current and planned personnel, systems, procedures and controls will be adequate to support its future operations at any increased level. The Company's failure to manage growth effectively could have a material adverse effect on its business, results of operations and financial condition.\n\n#### *The Company's growth relies on market acceptance*\n\nWhile the Company believes that there will be significant customer demand for its products/services, there is no assurance that there will be broad market acceptance of the Company's offerings. There also may not be broad market acceptance of the Company's offerings if its competitors offer products/services which are preferred by prospective customers. In such event, there may be a material adverse effect on the Company's results of operations and financial condition, and the Company may not be able to achieve its goals.\n\nWe depend on our senior management team and the host and adviser of our program, in particular Mr. Wengui Guo. The loss of one or more key personnel or an inability to attract and retain highly skilled personnel may impair our ability to grow our business\n\n\n\nOur success depends in part upon the continued services of our key executive officers, including Yvette Wang, Max Krasner and Daniel Podhaskie, as well as other key personnel. We do not have employment agreements with most of our executive officers or other key personnel that require them to continue to work for us for any specified period and, therefore, they may terminate employment with us at any time with no advance notice. The replacement of our senior management team or other key personnel likely would involve significant time and costs, and the loss of these employees may significantly delay or prevent the achievement of our business objectives.\n\n#### *We have no history with pricing our services and we may be forced to change the prices we intend to charge for our applications or the pricing models upon which they are based*\n\nWe have limited experience with respect to determining the optimal prices and pricing models for certain of our applications and certain geographic markets. As a result, we cannot predict with confidence what our revenues might be, and whether our revenues can support our projected expenses.\n\n#### *9.2 Risks Related to the Securities*\n\n#### *The purchase price of the securities has been arbitrarily determined and may not be indicative of its actual value or future market prices*\n\nThe terms of the sale of common stock, including the purchase price were determined by the Company in connection with its founding shareholder, and does not bear any direct relationship to the assets, results of operations, or book value of the Company, or to any other historically-based criteria of value. In determining such terms, the Company and its founding shareholder were acting on their own behalf and for their own benefit, and without any duty or responsibility to the prospective investors. The purchase price should not be considered as an indication of the Company's actual value or the value of the securities.\n\n\n\n#### *State and federal securities laws*\n\nThe securities to be offered have not and will not have been registered under the Securities Act of 1933, in reliance, among other exemptions, on the exemptive provisions of section 4(a)(2) of the Securities Act and Regulation D under the Securities Act. Similar reliance has been placed on apparently available exemptions from securities registration or qualification requirements under applicable state securities laws. No assurance can be given that any offering will qualify or will continue to qualify under one or more of such exemptive provisions due to, among other things, the adequacy of disclosure and the manner of distribution, the existence of similar offerings in the past or in the future, or a change of any securities law or regulation that has retroactive effect. If, and to the extent that, claims or suits for rescission are brought and successfully concluded for failure to register any offering or other offerings or for acts or omissions constituting offenses under the Securities Act, the Securities Exchange Act of 1934, or applicable state securities laws, the Company could be materially adversely affected, jeopardizing the Company's ability to operate successfully. Furthermore, the human and capital resources of the Company could be adversely affected by the need to defend actions under these laws, even if the Company is ultimately successful in its defense.\n\nCompliance with the criteria for securing exemptions under federal securities laws and the securities laws of the various states is extremely complex, especially in respect of those exemptions affording flexibility and the elimination of trading restrictions in respect of securities received in exempt transactions and subsequently disposed of without registration under the Securities Act or state securities laws.\n\n#### *The securities will not be registered, and no one has passed upon either the adequacy of the disclosures contained herein or the fairness of the terms of the sale of common stock*\n\nNo governmental agency will have reviewed the terms of sale of common stock and no state or federal agency will pass upon either the adequacy of the disclosure contained herein or the fairness of the terms of any offering. The exemptions relied upon for such offerings are significantly dependent upon the accuracy of the representations of the investors to be made to the Company in connection with any such offering. In the event that any such representations prove to be untrue,\n\nFILM/VIDEO • PRODUCTION\nT™\n\nthe registration exemptions relied upon by the Company in selling the securities might not be available and substantial liability to the Company would result under applicable securities laws for rescission or damages.\n\n#### *There is no public trading market for the securities, and none may develop. The securities to be sold are restricted and not freely transferable*\n\nThere has been no public or private market for the Company's securities, and there can be no assurance that any such market would develop in the foreseeable future. There is, therefore, no assurance that the securities can be resold at all, or near the purchase price. You will be required to represent that you are acquiring such securities for investment and not with a view to distribution or resale, that you understand that the securities are not freely transferable and, in any event, that you must bear the economic risk of an investment in the securities for an indefinite period of time because the securities have not been registered under the Securities Act or applicable state Blue Sky or securities laws. The securities cannot be resold unless they are subsequently registered or an exemption from registration is available. In addition, the Company's stockholders agreement, which you will be required to execute, restricts resales of the Company's securities without the approval of the Company's board of directors. Further, there can be no assurance that the Company will ever consummate a public offering of any of the Company's securities. Accordingly, investors must bear the economic risk of an investment in the securities for an indefinite period of time. Even if an active market develops for such securities, Rule 144 promulgated under the Securities Act (\"Rule 144\"), which provides for an exemption from the registration requirements under the Securities Act under certain conditions, requires, among other conditions, for resales of securities acquired in a non-public offering without having to satisfy such registration requirements, a sixmonth holding period following acquisition of and payment in full for such securities assuming the issuer of such securities has filed periodic reports with the SEC under the Securities Exchange Act of 1934, as amended (the \"Exchange Act\") for a period of 90 days prior to the proposed sale. If the issuer of such securities has not made such filings, such securities will be subject to a one-year holding period before they can be resold under Rule 144. There can be no assurance that the Company will fulfill any reporting requirements in the future under the\n\n\n\nExchange Act or disseminate to the public any current financial or other information concerning the Company, as is required by Rule 144 as part of the conditions of its availability.\n\nTHERE CAN BE NO ASSURANCE THAT THE COMPANY WILL EVER FILE A REGISTRATION STATEMENT TO REGISTER SUCH SECURITIES, THAT SUCH REGISTRATION STATEMENT WILL BECOME EFFECTIVE, OR THAT ONCE EFFECTIVE, SUCH EFFECTIVENESS WILL BE MAINTAINED.\n\n#### *The Company is not subject to Sarbanes-Oxley regulations and may lack the financial controls and procedures of public companies*\n\nThe Company may not have the internal control infrastructure that would meet the standards of a public company, including the requirements of the Sarbanes Oxley Act of 2002. As a privately-held (non-public) Company, the Company is currently not subject to the Sarbanes Oxley Act of 2002, and its financial and disclosure controls and procedures reflect its status as a development stage, non-public company. There can be no guarantee that there are no significant deficiencies or material weaknesses in the quality of the Company's financial and disclosure controls and procedures. If it were necessary to implement such financial and disclosure controls and procedures, the cost to the Company of such compliance could be substantial and could have a material adverse effect on the Company's results of operations.\n\n#### *The Company does not intend to pay dividends for the foreseeable future*\n\nYou are not entitled to receive any dividends on your interest in the Company and the Company does not intend to pay any dividends in the foreseeable future. Any potential investor who anticipates the need for current dividends or income from an investment in the securities should not purchase any of the securities.\n\n#### *Saraca owns a controlling interest in the Company, and can exercise significant control over the Company*\n\nBecause Saraca will own at least 80% of the Company's common stock, they can exert significant control over the Company's business and affairs and have actual or potential interests that may depart from purchasing the common stock. Saraca will have complete control over all corporate actions requiring stockholder approval, irrespective of how the Company's other stockholders, including purchasers of the common stock, may vote, including the following actions:\n\n- to elect or defeat the election of the Company's directors;\n- to amend or prevent amendment of the Company's Certificate of Incorporation or By-laws;\n- to effect or prevent a merger, sale of assets or other corporate transaction; and\n- to control the outcome of any other matter submitted to the Company's stockholders for vote.\n- Saraca's ownership may discourage a potential acquirer from making a tender offer or otherwise attempting to obtain control of the Company, which in turn could reduce the Company's stock price or prevent the Company's stockholders from realizing a premium over the Company's stock price.\n\n#### *The Company may not have audited financial statements nor is it required to provide investors with any annual audited financial statements or quarterly unaudited financial statements*\n\nThe Company may not have audited financial statements or audited balance sheets reviewed by outside auditors. In addition, the Company is not required to provide investors with financial information concerning the Company to which the investors may use in analyzing an investment in the Company. Therefore, your decision to make an investment in the Company must be based upon the information provided to the investors in its private placement documents without financial statements information and therefore, the limited information provided herewith with which investors will make an investment decision may not completely or accurately represent the financial condition of the company. Furthermore, as a private owned company not subject to reporting requirements under the Securities Exchange Act of 1934, the Company is not required to provide you with annual audited financial statements or quarterly unaudited financial statements.\n\n#### *9.3 Technology Related Risks*\n\n#### *The Company May Not Successfully Introduce New Products*\n\nThe Company currently expects to introduce new products and services, as described in the memorandum. Although it believes it will be able to develop these products and services, the Company cannot make any assurances that the Company can develop them quickly, on a costeffective basis and/or with any or all of the features described in the memorandum. Any new service or product the Company introduces that is not favorably received could damage its reputation and the perception of the Company. The failure of any new products or services to achieve market acceptance and generate revenue could result in a material adverse effect on the business, results of operations and financial condition and the value of the Company and your investment.\n\n#### *Third Party Operations and Infrastructure*\n\nThe Company's products will rely on the infrastructure, proper operation and compatibility with customer devices and other third-party operations\n\nand infrastructures that will be beyond its control. Any of these operations or infrastructure may limit the usefulness or value of its products and/or the Company's overall performance.\n\n#### *Failure to Meet Customer Expectations*\n\nIf the Company's services or products have significant defects or errors or fail to meet customers' expectations, the Company may lose revenue, be required to implement costly improvements and/or receive negative publicity.\n\n#### *Intellectual Property Risks*\n\nThe Company may seek to protect its intellectual property through patent applications, trademark filings and confidentiality agreements, as appropriate. The Company cannot assure that measures it takes to protect its intellectual property will be successful. In addition, the Company could be subject to intellectual property infringement claims by\n\n\n\nothers. The Company's failure to protect against misappropriation of its intellectual property, or claims that it is infringing the intellectual property of third parties could have a negative effect on the Company's business, results of operations and financial condition.\n\n#### *Technology is Constantly Changing*\n\nTo remain competitive the Company must continue to enhance and improve its products. If future competitors introduce new products and services with new technologies, or if new industry standards and practices emerge, its technology may be rendered obsolete. The Company may use new technologies ineffectively or fail to adapt its products to customer requirements, or emerging industry standards. If the Company experiences delays in introducing new solutions, customers may forego the use of its products and use those of its competitors. If it fails to react effectively to technological changes, it will materially and adversely affect The Company's business, results of operations and financial condition.\n\n#### *Cybersecurity*\n\nThe Company depends on complex information technology and communication systems to conduct business functions. These systems are subject to a number or different threats or risks that could adversely affect the Company despite its efforts to adopt technologies, processes and practices intended to mitigate these risks and protected the security of its computer systems, software, networks and other technology assets, as well as the confidentiality, integrity and availability of information belonging to it. For example, unauthorized third parties may attempt to improperly access, modify, disrupt the operations of, or prevent access to these systems of the Company or data within these systems. Third parties may also attempt to fraudulently induce employees, customers, third-party service providers or other users of the Company's systems to disclose sensitive information in order to gain access to the Company. A successful penetration or circumvention of the security of the Company's systems could result in the loss or theft of data or funds, the inability to access electronic systems, loss or theft of proprietary information or corporate data, physical damage to a computer or network system or costs associated with system repairs.\n\n\n\nSuch incidents could cause the Company to incur penalties, reputational damage, additional compliance costs or financial loss.","body_zh":"证物 B\n\n保密信息备忘录\nGTV Media Group, Inc.\n\n2020年4月20日\n非公开且保密 不得复制\n\n美国证券交易委员会（United States Securities and Exchange Commission，简称“SEC”或“委员会”）及任何州证券监管机构均未对本保密信息备忘录所载信息的充分性或准确性发表意见，亦未对本文所述证券投资的优劣作出认定。任何相反的陈述均属刑事犯罪。\n\n所述证券未曾且将不会依据经修订的《1933年证券法》（Securities Act of 1933）或任何州的证券法进行登记，并将依据该等法律项下的特定登记豁免予以发售。该等豁免对证券的后续转让施加了重大限制，致使本备忘录项下的投资者不得在随后转售本文所述证券，除非该等证券随后依据适用的联邦和州证券法进行登记，或享有该等登记的豁免。投资本文所述证券包含重大风险。参见“投资者适当性与合资格投资者”以及“风险因素”。\n\n保密与免责声明\n\n本保密信息备忘录（“备忘录”）旨在供有意评估向 GTV Media Group, Inc.（“本公司”或“GTV Media”）进行资本投资机会的特定各方进行讨论之用。GTV Media 是一家于2020年4月注册成立的新设立公司。本文件中对 GTV Media 业务的所有描述均指 GTV Media 拟在未来开展的业务。无法保证 GTV Media 将会进入该等已确定的业务领域，亦无法保证 GTV Media 在该等业务中将取得成功。\n\n接收本备忘录即表示，接收方同意，未经本公司事先书面同意，其自身及其代理人、代表、董事或雇员均不得将本备忘录的全部或部分内容向他人复制、翻印或散发。接收方亦同意对本备忘录所载的所有尚未进入公共领域的信息予以保密，并仅将本备忘录用于考量对本公司投资之目的。本保密备忘录尚待完善、修订，以及在适当时予以更正。\n\nGTV Media、Saraca Media Group, Inc（GTV Media 的母公司）或本文提及的任何其他方，均不对本备忘录或向任何一方传达的任何其他书面或口头交流中的遗漏、明示或暗示的陈述承担任何责任，且明确声明免除任何此类责任。只有在最终协议（若有且在签署时）中可能作出的特定陈述与保证才具有法律效力。\n\n本备忘录载有本公司管理层就本公司预期未来业绩所作出的若干陈述、估算及预测。该等陈述、估算及预测反映了有关预期成果的重大假设和主观判断。该等假设和判断可能被证明是正确的，也可能不正确，并且无法保证任何预测结果能够达到或将会实现。\n\n您在评估参与本文提及的任何交易的价值时，不得依赖本文件。本文件仅包含选定信息，并非旨在包罗万象，亦不旨在包含可能与您参与任何此类交易相关的所有信息。本文件不构成且不应被解释为任何推荐或建议，包括投资、法律、财务、税务或会计建议。\n\n本文件不构成认购或购买任何证券的要约或要约邀请，本文件及其所载任何内容均不构成购买或转让证券的任何合同或承诺的基础。本备忘录的唯一目的是协助有意方决定是否就其投资考虑展开进一步的调查和评估。因此，有意方应自行承担费用，负责获取或核实其认为对其独立评估所必需的所有信息，直至其满意为止。\n\n本文件仅向合资格投资者散发。本文件向您提供仅供您参考之用，不得向任何其他人复制或重新散发。本文件或其任何副本均不得散发给非合资格投资者的任何投资者。\n\n任何收到本文件并希望实施本文所讨论交易的人士，必须依照适用法律行事。任何执行本文件所讨论提案的交易，应完全依据最终交易协议中载明的条款并受其条件约束。\n\n本备忘录仍为本公司的财产，本公司保留在任何时候要求退还本备忘录连同任何副本或摘录的权利。GTV Media 保留自行全权决定拒绝由任何有意方作出或代表其作出的任何及所有提案、在任何时候终止任何有意方进一步参与调查及拟议流程，或终止与任何有意方的任何讨论或谈判，或在任何时候终止拟议流程的权利。GTV Media 无意在本文件日期之后更新或以其他方式修改本备忘录，但保留在任何时候根据自身需求做出其认为合适的截止日期调整的权利，并将按要求通知有意方。\n\n联系信息\n\n有关本备忘录所载信息的问题及索取补充信息的要求应向 GTV Media 提出。\n\n联系方式如下：\n\nGTV Media Group, Inc. 162 E. 64th Street New York, NY10065 United States\n\n电话（仅限短信和 WhatsApp 消息）：+1 (347) 439 5584\n\n前瞻性陈述\n\n本备忘录中的部分陈述构成前瞻性陈述。这些陈述涉及未来事件或本公司预期的未来财务业绩。在某些情况下，您可以通过诸如“可能”、“将”、“应当”、“可以”、“预期”、“计划”、“打算”、“预计”、“相信”、“估计”、“预测”、“潜在”或“继续”等词汇，或该等词汇的否定形式及其他类似术语来识别前瞻性陈述。这些陈述涉及已知和未知的风险、不确定性以及其他因素，可能导致本公司的实际结果、活动水平、业绩或成就与此类前瞻性陈述所明示或暗示的任何未来结果、活动水平、业绩或成就存在重大差异。尽管本公司认为前瞻性陈述中所反映的预期是合理的，但不能保证未来的结果、活动水平、业绩或成就。在阅读所有前瞻性陈述时均应保持审慎，并理解在本公司及其管理层控制范围内外的诸多因素很可能导致未来的结果、活动水平、业绩或成就与目前预测或预期的结果存在重大差异。\n\n目录\n页码\n1. 愿景、使命与目标 6\n2. 背景 6\n3. 拟议交易 9\n4. 募集资金用途 10\n5. 投资亮点 11\n6. 董事会与发起人 12\n7. 投资条款概要 16\n8. 投资者适当性与合资格投资者 16\n9. 风险因素 18\n\n1. 愿景、使命与目标\n\n1.1 愿景\n\n成为中国与世界其他地区之间最受信任的平台。\n\n1.2 使命\n\n打造最受欢迎、最安全的社交媒体和交易平台，独立于中国政府的审查和监控，让中国及世界人民实现言论和贸易自由。\n\n1.3 目标\n\n- 打造独一无二且唯一的聚焦新闻、揭露中国真相的社交媒体平台；\n- 打造一个不受中国共产党控制的在线商务交易平台，专注于14亿中国人民的个人和商业交易；\n- 成为在中国倡导真相、言论和宗教自由、正义、人权与民主的最安全平台；以及\n- 成为中国与西方世界之间的桥梁，实现不受中国政府审查的自由开放的交流、商业往来和贸易。\n\n2. 背景\n\nGTV Media 于2020年4月17日由 Saraca Media Group, Inc.（“Saraca”）在美国特拉华州（Delaware, U.S.A）成立。Saraca 及其发起人 Wangui Guo（郭文贵）先生运营独立的新闻和社交媒体平台（包括 Guo Media、GNews 和 GPost）已近三年，积累了庞大的受众群体和广泛的支持。近期，Saraca 建立了一个名为 GTV 的全新网页和移动应用频道，这是一个聚焦新闻的社交媒体平台。该频道尚未\n\n正式推出，但在测试期间对该新频道的初步反响极为热烈。GTV 网页版为期一周（2020年4月5日至2020年4月12日）的初步测试吸引了超过97,994名独立访客和超过7.74亿次浏览请求。Saraca 决定设立一家新公司 GTV Media，以便在未来拥有并运营 GTV 频道。Saraca 将把 GTV 频道的所有资产出资注入 GTV Media。\n\nSaraca 是一家在报道有关中国的真相和原创资讯以及揭露中国政府高官腐败方面的领先公司。GTV Media 的核心业务将是运营 GTV 网站（测试版网址为 http；正式版网址见 http）以及 GTV 移动应用程序（可在 Apple Store 下载 G-TV: social networking）。\n\nGTV Media 是有史以来第一个将公民新闻与社交新闻的力量与尖端技术、大数据、人工智能、区块链技术和实时互动通信相结合的平台。鉴于中国政府对所有媒体和新闻内容的严密审查，西方世界和中国人民无法获知有关中国的真相。通过公民记者与技术的结合，GTV Media 计划向世界和中国人民提供有关中国的第一手、原创且真实的信息。我们对 GTV 频道的商业计划将包括纳入以下主要特征：\n\n2.1 我们让中国人民与西方世界自由交流的计划：\n\n- 应使14亿中国人和数百万海外华人能够安全、自由地使用互联网和全球商业信息进行个人交流、会议和商业交易；\n- 成为所有中国人与美国及西方文明世界交流信息、社交、举行商务会议和交流政治信息的唯一实时互动通信平台；以及\n- 目前拥有中文和英文版本，从而能够开发出一个真正的多语言社交媒体平台。\n\n2.2 我们的计划是成为美国和西方世界最可靠、最值得信赖的在线交易平台\n\n- GTV平台在美国注册，受美国法律的监管与保护；\n- 将利用包括大数据、人工智能、5G以及区块链支付系统（G币）在内的最先进技术；\n- 将成为唯一允许西方人和中国人在完全保密和相互尊重的情况下进行交易的先进智能在线交易平台。\n\n2.3 旨在成为中国与西方之间的公平交易平台\n\n- 建立一个尊重知识产权的商业平台，将美国及其他西方国家的产品合法、公平且不受政治操纵地引入庞大的中国市场；\n- 遵循国际最佳实践和法规，建立并发展一个集个人信息交换、支付和拍卖于一体的综合系统；以及\n- 覆盖14亿中国人口以及全球数十亿人口的庞大市场。\n\n2.4 我们打算成为一个多功能信息平台\n\n- 拥有公平交易的在线信息、技术、商品和拍卖平台；\n- 能够吸引数以亿计追求中国法治、民主与自由，并在过去几年中支持揭露中国腐败、阻碍、违法、暴行、骚扰和不人道行为的“爆料革命”（Exposé Revolution）的支持者；\n- 利用受“爆料革命”启发的中国社交媒体（直播和录播视频）的庞大资源；\n- 结合东方的勤劳智慧与西方的规范和法律，为数百万“爆料革命”支持者提供商业机会和平台，包括开设网店和开展技术产品交易。\n\n2.5 我们将力求结合现有各类媒体平台的优势，成为一个具有巨大潜力的独特而全面的信息平台\n\n- 充分利用现代人工智能、区块链和5G技术；\n- 结合现有各类媒体平台的优势，整合其叠加价值；以及\n- 填补其空白，满足更广泛客户和市场的需求，特别是现有媒体平台在西方受到限制的领域。\n\n3. 拟议交易\n\nGTV Media（GTV传媒）计划吸引Saraca（萨拉卡）和“爆料革命”的支持者和朋友作为投资者（“投资者”），以便：抓住社交媒体行业的增长机会；为未来增长提供资金；增强技术和竞争力；并最终实现股东价值最大化。\n\nGTV传媒确认的投资者将有机会认购GTV传媒新发行的普通股股份。GTV传媒拟以每股US$1的价格向投资者发行最少2000万股、最多2亿股的新股。\n\nGTV传媒在任何股份私募前以及股份私募后（假设2亿股新股全部被足额认购）的集团架构预计如下：\n\n[图片：_page_10_Figure_2.jpeg]\n\n4. 募集资金用途\n\nGTV传媒计划将私募募集的资金用于扩大和加强业务。预期的募集资金用途如下：\n说明 募集资金百分比\n收购公司以加强和发展GTV 约70%\n升级GTV技术和安全 约10%\n市场营销 约8%\n营运资金 约7%\n其他 约5%\n总计 100%\n\n[图片：_page_11_Picture_1.jpeg]\n\n5. 投资亮点\n\nGTV传媒的主要规划特点重点列出如下：\n\n- 中国与西方世界之间唯一未经审查且独立的桥梁，不仅向西方世界提供有关中国的真相，也向中国人民提供有关西方世界的真实且未经审查的新闻；\n- 参与者自由且安全地揭露有关中国真相的唯一受信任平台；\n- GTV传媒相信中国的媒体审查防火墙将被摧毁。届时，GTV不仅将成为全球唯一受信任的涉华媒体平台，而且将成为中国最大的受信任媒体平台；\n- GTV传媒将成为最自由、最安全的平台，具备全天候免费信息交换、在线语音和视频、个人及商务会议功能，提供：\n\t- 会议系统（竞争对手包括ZOOM等）\n\t- 个人交易系统（竞争对手包括WeChat、TikTok等）\n\t- 社交平台（竞争对手包括WeChat、TikTok、Youtube等）\n\t- 商务会议支持系统（竞争对手包括Zoom、Cisco、Citrix等）\n\t- 在线交易系统（竞争对手包括Alibaba、Amazon、Ebay等）\n- 无与伦比的多路广播和多人视频会议支持系统；\n- 原创内容：GTV平台上的所有内容、新闻和观点都将是原创的第一手信息；\n- 专家：GTV传媒在全中国拥有一支庞大的社会记者团队（包括具有司法和道德操守的官员），提供准确和最新的新闻报道；\n- 全球化：GTV拥有一支24/7全天候翻译团队，提供中文和英文的信息与视频。未来还将增加更多语种。\n\n6. 董事会和发起人\n\n6.1 职责\n\nGTV传媒董事会被委托承担公司全面管理的职责。除其他事项外，董事会的职责包括：\n\n- 制定公司的战略和方向\n- 制定公司政策\n- 监督管理层绩效\n- 设立必要和适当的董事会专门委员会，处理包括薪酬、财务审计、治理监督、风险评估控制等事项。\n\n6.2 组成\n\n目前已任命3名执行董事。公司将邀请5名具有金融、会计、法律和管理背景的非执行董事。此外，公司正在考虑设立一个董事席位以代表新的私募投资者。\n\n6.2.1 执行董事\n\nYvette Y. Wang（王雁平），执行董事：\n\n王女士在管理、金融投资以及并购方面拥有丰富经验。她在建立萨拉卡的媒体业务中发挥了重要作用。在加入萨拉卡之前，王女士曾参与中国的多项具有里程碑意义的交易，包括北京盘古大观项目的融资，参与了中国民族证券与方正证券的合并，以及对海通证券的数十亿美元投资。王女士与美国和欧洲的许多高级政府官员有着广泛的联系，并在这些国家完成了许多项目。\n\n[图片：_page_13_Picture_1.jpeg]\n\nMax Krasner（马克斯·克拉斯纳），执行董事：\n\n克拉斯纳先生是一名拥有10年以上经验的会计和财务专业人士。他在复杂项目管理、项目和财务分析、团队管理与培训方面拥有丰富的经验。他负责萨拉卡的财务和会计职能。克拉斯纳先生毕业并获得了金融与经济学双专业学士学位。他还获得了凯勒管理研究生院（Keller Graduate School of Management）的会计与财务管理硕士学位。\n\nDaniel Podhaskie（丹尼尔·波德哈斯基），执行董事：\n\n波德哈斯基先生是一名律师，担任外部法律顾问和内部法务已超过十年，曾为Wengui Guo（郭文贵）、Trump Organization（特朗普集团）、Carlos Slim（卡洛斯·斯利姆）以及JPMorgan（摩根大通）等知名客户提供法律咨询。他曾就涉及房地产、知识产权和资产收购的数百万美元合同提供法律咨询，并在国内和跨境争议中指导了成功的诉讼策略。波德哈斯基先生是Rule of Law Society IV, Inc.（法治社会第四分会公司）的常务董事，该机构是一家注册的501(c)(4)组织，倡导对中华人民共和国的言论自由和法治。波德哈斯基先生获得了纽约圣约翰大学（Saint John's University）优等（cum laude）理学学士学位，以及图罗学院雅各布·D·福克斯伯格法律中心（Touro College Jacob D. Fuchsberg Law Center）优等（cum laude）法律博士学位。他的成就得到了同行的高度认可，并在2017年至2019年入选纽约超级律师纽约大都会区（Super Lawyers New York Metro）名录。\n\n6.2.2 非执行董事\n\nJohn A. Morgan（约翰·A·摩根），非执行董事：\n\n摩根先生是一位奥运冠军，也是Morgan Joseph（摩根约瑟夫）的创始人兼董事长。他的父亲Henry Morgan（亨利·摩根）是Morgan Stanley（摩根士丹利）的联合创始人，其曾祖父是J.P. Morgan & Co.（摩根公司）的创始人J.P. Morgan（J.P. 摩根）。在创立摩根约瑟夫之前，摩根先生曾担任Smith Barney（史密斯巴尼）的副董事长，主管该公司的并购业务。摩根先生曾担任纽约抵押贷款协会（Provident Loan Society of New York）的受托人以及皮尔庞特·摩根图书馆（Pierpont Morgan Library）的董事。摩根先生毕业于耶鲁大学（Yale University），获得文学学士学位。\n\n[图片：_page_14_Picture_1.jpeg]\n\nStephen K. Bannon（斯蒂芬·K·班农），非执行董事：\n\n班农先生曾担任唐纳德·特朗普2016年总统竞选团队的首席执行官。在白宫期间，他曾担任总统首席战略顾问和高级顾问。班农先生是Citizens of the American Republic（美利坚共和国公民组织）的创始人，该组织是一家倡导民粹主义和经济民族主义的501(c)4机构。他是一名屡获殊荣的纪录片制作人，也是Breitbart News（布赖特巴特新闻网）的前执行董事长。作为高盛集团（Goldman Sachs）的并购银行家，班农先生拥有乔治城大学（Georgetown University）的国家安全研究硕士学位和哈佛商学院（Harvard Business School）的工商管理硕士学位。他曾是一名水面作战军官，在西太平洋、阿拉伯海和波斯湾的USS Paul F. Foster（DD-964，保罗·F·福斯特号驱逐舰）上服役。他曾在五角大楼担任海军作战部长的特别助理。\n\nKyle Bass（凯尔·巴斯），非执行董事：\n\n巴斯先生是Hayman Capital Management（海曼资本管理公司）的创始人兼首席投资官，该公司是一家专注于全球事件驱动机会的私募基金管理机构。巴斯先生管理的私募基金策略专注于次级信贷、欧洲主权信贷、制药行业、中国和香港。巴斯先生是德克萨斯大学投资管理公司（University of Texas Investment Management Company，UTIMCO）的董事会成员，该公司管理着约450亿美元资产，他并担任风险委员会主席。2015年，巴斯先生被《知识资产管理》（Intellectual Asset Management）杂志评选为全球专利市场上最具影响力的25人之一。巴斯先生曾在哥伦比亚大学、哈佛大学、斯坦福大学和耶鲁大学等多所大学就中国金融体系发表演讲。在创立海曼之前，巴斯先生曾担任Legg Mason（美盛集团）的董事总经理以及Bear Stearns（贝尔斯登）的高级董事总经理。他毕业于德克萨斯基督教大学（Texas Christian University），获得金融学学位。\n\n[图片：_page_15_Picture_1.jpeg]\n\nDarren Blanton（达伦·布兰顿），非执行董事：\n\n布兰顿先生是Colt Ventures（柯尔特创投）的创始人兼执行合伙人，该机构是他为投资个人资本而设立的家族办公室。他从事私人投资已有30多年，投资了处于各个发展阶段的250多家公司。他的投资领域涵盖石油与天然气、科技、房地产、金融服务、消费/零售、生物技术以及马匹等多个行业。\n\nAaron A. Mitchell（亚伦·A·米切尔），非执行董事：\n\nAaron Mitchell 是 Lawall & Mitchell 律所的创始合伙人，该律所专注于业务发展、第一修正案问题以及医疗保健改革。其业务范围包括代表金融机构、媒体公司、能源公司、医疗保健提供商和机构、房地产开发商以及一系列商业实体和个人处理复杂的纠纷、调查、诉讼、审查以及行政与执法程序。Mitchell 先生获准在纽约州、新泽西州、康涅狄格州和宾夕法尼亚州执业。他获得了佩斯大学法学院（Pace University School of Law）的法律博士学位。\n\n6.3 GTV Media 的发起人与顾问\n\nGTV Media 的发起人兼顾问 Wengui Guo 先生（又名 Miles Guo、Ho Wan Kwok【郭文贵】或 Miles Kwok）是一位亿万富翁、成功的商业人士及中国的异见人士。他深刻了解中国共产党（“CCP”）如何剥夺中国人民的\n\n人权、正义、言论自由、新闻自由和宗教信仰自由。他致力于推翻中共政权，为中国人民重拾真相、自由与正义。Miles Guo 是 GTV Media 的主要主持人。\n\n7. 投资条款摘要\n\nGTV Media 拟按每股 1 美元的价格向投资者发行最少 20,000,000 股、最多 200,000,000 股新股。此外，投资者须签署并交付本公司股东协议的一份副本，该协议对本公司普通股股份的某些转让作出了限制性规定。\n\n所有转让均须经本公司董事会批准，并受制于以本公司为受益人的优先购买权。投资者应仔细阅读股东协议。\n\n条款 说明\n发行人 GTV Media Group, Inc\n股份类别 普通股\n已发行现有股份数量 1,800,000,000 股\n拟发行新股数量 最多 200,000,000 股\n每股发售价 / 投资前估值 每股 1 美元，相当于 1,800,000,000 美元的投资前估值\n融资金额 最多 200,000,000 美元，占本公司扩大后股本的 10%\n目标交割日 2020 年 5 月 25 日\n\n8. 投资适格性与合格投资者\n\n8.1 适格性\n\nGTV Media 的普通股将在不根据经修订的 1933 年《证券法》（Securities Act of 1933，简称“《证券法》”）进行登记的情况下发售，\n\n系依据该法项下的某些豁免，投资者须证明其符合某些要求。用于此目的的主要文件为《认购协议》。每位投资者或做出投资决定的其他人士均须作出如下陈述（包括但不限于）：(1) 投资者或投资者的顾问具备进行该项投资所必需的知识或经验；(2) 投资者知悉证券尚未根据《证券法》进行登记，且投资者无权要求进行此类登记；(3) 投资者系代表其本人（包括男性、女性或实体本身）购买证券，而非代表任何其他人且非用于向他人转售；(4) 投资者理解转让证券的权利将受到本备忘录所述的限制，且不允许进行任何违反《证券法》或适用之州证券法的转让；(5) 投资者对其投资无流动性需求，并理解在某些情况下可能会损失部分或全部投资；以及 (6) 投资者为《证券法》所定义的“合格投资者”（Accredited Investor）。\n\n8.2 合格投资者\n\n本普通股系根据登记豁免规定在未依据《证券法》登记的情况下发售，包括针对向《证券法》所定义的“合格投资者”进行销售的豁免。每位投资者必须符合合格投资者的资格。通常而言，合格投资者是指至少符合以下标准之一的投资者：\n\n- A. 投资者为自然人，其在过去两年中每年的个人收入（不包括其配偶的收入）均超过二十万（$200,000）美元（若计入个人配偶的收入，则超过三十万（$300,000）美元），且合理预期本年度的个人收入将超过该适用金额；或\n- B. 投资者为自然人，其个人净资产或与其配偶的共同净资产（不包括其主要住所的价值）超过一百万（$1,000,000）美元；或\n- C. 投资者为公司、合伙企业、有限责任公司或信托：\n\n- I. 其中所有股权所有者均符合上述 (a) 和 (b) 小段所规定的合格投资者资格；或\n- II. 拥有总资产超过五百万（$5,000,000）美元（前提是该实体并非为投资于本普通股的特定目的而设立），且在信托的情况下，该信托的投资决定由在财务和商业事务方面具备知识和经验、证明其有能力评估该项投资的优劣与风险的人士做出；或\n- III. 投资者为员工福利计划（定义见 1974 年《员工退休收入保障法》（Employee Retirement Income Security Act of 1974）第一篇），具有：\n- IV. 超过五百万（$5,000,000）美元的资产；或\n- V. 投资决定由作为受托人的银行、储蓄贷款协会、保险公司或注册投资顾问做出；或\n- VI. 若为自我指导型计划，该计划的投资决定完全由符合合格投资者资格的人士做出。\n\n合格投资者的其他类别包括：某些银行和储蓄贷款协会（无论是代表其自身还是以受托人身份行事）、某些保险公司、联邦注册投资公司、商业发展公司（定义见 1940 年《投资公司法》（Investment Company Act of 1940））、获得美国小企业管理局（U.S. Small Business Administration）许可的小企业投资公司、私募商业发展公司（定义见 1940 年《投资顾问法》（Investment Advisors Act of 1940）），以及总资产超过五百万（$5,000,000）美元且非为投资于本普通股的特定目的而设立的免税组织（定义见经修订的 1986 年《国内税收法典》（Internal Revenue Code of 1986，简称“《税典》”）第 501(c)(3) 条）。潜在投资者必须在交易文件中陈述该潜在投资者是否符合上述标准之一。\n\n9. 风险因素\n\n对 GTV Media 的投资具有高度投机性，涉及高度风险，且仅适合拥有大量资产且\n\n对其投资无流动性需求并能承受此类风险（包括损失全部投资的风险）的人士。应当认识到，本备忘录所列出的风险是截至本备忘录出具之日，本公司认为最为重大的风险。建议潜在投资者对本公司业务的风险和潜在盈利能力进行独立调查和评估。潜在投资者必须认识到，其他因素最终可能会以无法预见的方式和程度对所发售的投资产生影响。潜在投资者应仔细考虑以下各项：\n\n9.1 与本公司运营相关的风险\n本公司无经营历史。\n\n本公司为一家新成立的公司，无经营历史。无法保证本公司能够成功开展其业务、开发任何产品或能够实现盈利运营。评估其成功的可能性时，应结合处于初创阶段且准入门槛较低的公司通常会遇到的问题、费用、困难、复杂情况及延误加以考量。本公司可能无法成功实现克服这些风险和不确定性所需的目标。\n\n对初创公司的投资风险极高。\n\n本公司管理层在开发本公司商业计划书中所述类型的产品方面可能缺乏经验，且投资者将无法评估本公司的经营历史。初创企业还可能严重依赖单一客户、供应商或员工，其离开将严重损害公司的盈利能力。对公司产品的需求可能会受到整体经济的影响，或者公司可能面临特定于其行业或业务类型的其他风险。本公司在与规模更大的公司竞争时也可能面临困难，因为后者能够协商以更具经济效益的方式大规模提供服务，或者利用更庞大的营销预算。此外，初创企业可能面临来自诉讼、政府监管以及其他潜在阻碍增长的风险。\n\n本公司管理层在公司如何使用出售普通股所得款项净额方面拥有广泛的裁量权。\n\n本备忘录中对所得款项的使用仅为示意性的，本公司管理层对任何发售所得款项的使用将拥有相当大的裁量权。作为投资决定的一部分，您可能没有机会评估所得款项是否得到了适当使用。\n\n本公司可能需要额外资本，而该等资本可能无法获得。\n\n本公司可能需要超出其现有现金资源的资金，以弥补运营亏损、开发新产品或服务、建立并扩大其营销能力，以及资助一般与行政活动。\n\n由于本公司可能需要额外资金时的市场状况，或由于其届时的财务状况，本公司有可能无法在需要时按需获得额外资金。若本公司无法获得额外资金，可能无法在债务到期应付时偿还债务。若本公司能够获得资本，其条件可能并不优惠，或者可能过度稀释当时的现有股权持有人的权益。若本公司无法在需要时按需获得额外资金，可能会被迫推迟其开发、营销和扩张工作，并且若持续发生亏损，可能会停止运营。\n\n本公司面临激烈的竞争\n\n本公司面临来自其他公司的竞争，其中大多数公司可能拥有比本公司更丰富的经验和更雄厚的财务资源。本公司的竞争对手属于全球最大、最成熟的公司之列。本公司的竞争对手规模更大，拥有更强大的财务、技术、营销和公共关系资源，拥有更大的客户群体和更高的品牌知名度。本公司的竞争对手可能能够为客户提供额外的利益和/或更低的价格。本公司可能无法提供同等利益和/或价格，这可能导致其\n\n失去业务和市场份额。本公司的一个或多个竞争对手可能会以大幅降低的价格或更高的质量提供与本公司拟提供的服务类似的服务。若本公司无法就其服务收取预期的价格，可能会对本公司的经营业绩和财务状况产生重大不利影响。\n\n本公司可能无法管理其潜在的增长\n\n公司若要取得成功，必须实现显著且快速的扩张。无法保证公司能够实现这种扩张。这种扩张一旦实现，可能会对公司的管理、运营和财务资源造成重大压力。为管理任何实质性增长，公司将被要求实施运营和财务系统、程序和控制措施。公司还将需要扩大其财务、行政和运营人员队伍。无法保证公司当前和计划的人员、系统、程序和控制措施足以支持其未来任何更高水平的运营。公司未能有效管理增长可能对其业务、经营业绩和财务状况产生重大不利影响。\n\n公司的增长依赖于市场认可度\n\n尽管公司认为对其产品/服务将有庞大的客户需求，但无法保证公司的产品能够获得广泛的市场认可。如果竞争对手提供潜在客户更青睐的产品/服务，公司的产品也可能无法获得广泛的市场认可。在此种情况下，可能会对公司的经营业绩和财务状况产生重大不利影响，且公司可能无法实现其目标。\n\n我们依赖于高级管理团队以及我们节目的主持人兼顾问，特别是 Wengui Guo（郭文贵）先生。失去一名或多名关键人员，或者无法吸引和留住高技能人员，可能会削弱我们发展业务的能力\n\n我们的成功在一定程度上取决于关键高管（包括 Yvette Wang（王雁平）、Max Krasner 和 Daniel Podhaskie）以及其他关键人员的持续服务。我们与大多数高管或其他关键人员之间并未签署要求其在任何指定期限内继续为我们工作的雇佣协议，因此，他们可随时终止与我们的雇佣关系且无需提前通知。更换我们高级管理团队或其他关键人员可能会耗费大量时间和成本，且失去这些员工可能会显著拖延或阻碍我们业务目标的实现。\n\n我们没有为服务定价的历史，且我们可能被迫改变拟对应用程序收取的费用或据以定价的定价模型\n\n我们在确定针对某些应用程序及某些地理市场的最佳价格和定价模型方面经验有限。因此，我们无法有把握地预测我们的收入情况，以及我们的收入是否能够支持我们预计的支出。\n\n9.2 与证券相关的风险\n\n证券的购买价格系任意确定，可能无法体现其实际价值或未来市场价格\n\n普通股的出售条款（包括购买价格）系由公司与其创始股东共同确定，与公司的资产、经营业绩、账面价值或任何其他基于历史的价值标准均无任何直接关联。在确定该等条款时，公司及其创始股东均代表自身利益并为自身利益行事，对潜在投资者不承担任何义务或责任。购买价格不应被视为反映公司实际价值或证券价值的指标。\n\n州和联邦证券法\n\n拟发行的证券尚未且将不会根据《Securities Act of 1933（1933年证券法）》进行登记，系依赖于该《证券法》第 4(a)(2) 条以及该《证券法》项下的 Regulation D（D条例）等豁免规定。类似地，亦依赖于适用的州证券法项下明显适用的证券登记或资格要求豁免。无法保证任何发行已经或将继续符合一项或多项此类豁免规定，原因包括披露的充分性和分销方式、过去或未来存在类似发行、或具有追溯效力的任何证券法律法规的变更等。如果因未登记任何发行或其他发行，或因构成违反《证券法》、《Securities Exchange Act of 1934（1934年证券交易法）》或适用州证券法罪行的作为或不作为而提起撤销之诉并以败诉告终，公司可能会受到重大不利影响，从而危及公司的成功运营能力。此外，即使公司最终胜诉，公司的人力和资本资源也可能因根据这些法律进行抗辩的需要而受到不利影响。\n\n遵守联邦证券法及各州证券法项下获得豁免的标准极其复杂，特别是关于那些在豁免交易中获得、随后未按《证券法》或州证券法登记即予处置的证券所赋予的灵活性及消除交易限制的豁免。\n\n证券将不予登记，且没有任何人就本文所载披露的充分性或普通股出售条款的公允性作出判定\n\n任何政府机构均不会对普通股的销售条款进行审查，且任何州或联邦机构均不会对本文所载披露的充分性或任何发行的条款公允性作出判定。该等发行所依赖的豁免在很大程度上取决于投资者就任何该等发行向公司所作陈述的准确性。如果任何该等陈述被证明不属实，\n\n影视制作\nT™\n\n公司在出售证券时所依赖的登记豁免可能不再适用，并可能根据适用的证券法对公司产生解除合同或损害赔偿的重大责任。\n\n证券不存在公开交易市场，且可能永远不会形成此类市场。拟出售的证券为受限证券，不可自由转让\n\n公司的证券一直不存在公开或私下市场，且无法保证在可预见的未来会形成任何此类市场。因此，无法保证证券能够以任何价格转售，或以接近购买价格的价格转售。您将被要求陈述：您购买此类证券是出于投资目的，而非为了分销或转售；您理解该证券不可自由转让；且在任何情况下，由于该证券尚未根据《证券法》或适用的州 Blue Sky（蓝天法）或证券法进行登记，您必须承担该证券投资的无限期经济风险。除非随后进行登记或存在适用的登记豁免，否则该证券不得转售。此外，您将被要求签署的公司股东协议限制在未经公司董事会批准的情况下转售公司证券。此外，无法保证公司将来会对其任何证券完成公开发行。因此，投资者必须承担证券投资的无限期经济风险。即使此类证券形成了活跃市场，《证券法》项下颁布的 Rule 144（144号规则，简称“Rule 144”，其在特定条件下提供免于《证券法》登记要求的豁免）要求（除其他条件外），对于在非公开发行中取得的证券进行转售而无需满足该等登记要求的前提是，自取得并全额支付此类证券之日起满六个月的持股期，前提是此类证券的发行人已在拟定出售日前 90 天内根据经修订的《Securities Exchange Act of 1934（1934年证券交易法）》（简称“Exchange Act（交易法）”）向 SEC（美国证券交易委员会）提交了定期报告。如果该等证券的发行人未进行该等申报，则该等证券在能够根据 Rule 144 转售之前将适用为期一年的持股期。无法保证公司未来会履行\n\n《交易法》项下的任何报告要求，或向公众传播有关公司的任何最新财务或其他信息（这是 Rule 144 适用条件的组成部分）。\n\n无法保证公司将来会提交登记声明以登记此类证券、此类登记声明将生效、或一旦生效后将维持有效。\n\n公司不受萨班斯-奥克斯利法案法规的约束，且可能缺乏上市公司所具备的财务控制和程序\n\n公司可能不具备符合上市公司标准（包括《Sarbanes Oxley Act of 2002（2002年萨班斯-奥克斯利法案）》的要求）的内部控制基础设施。作为一家私营（非上市）公司，公司目前不受《2002年萨班斯-奥克斯利法案》的约束，其财务和披露控制及程序反映了其作为一家处于发展阶段的非上市公司的地位。无法保证公司的财务和披露控制及程序的质量不存在重大缺陷或实质性弱点。如果需要实施此类财务和披露控制及程序，公司遵守合规的成本可能十分巨大，并可能对公司的经营业绩产生重大不利影响。\n\n公司在可预见的未来无意派发股息\n\n您无权就您在公司的权益获得任何股息，且公司在可预见的未来无意派发任何股息。任何预期需要从证券投资中获得当期股息或收入的潜在投资者均不应购买任何证券。\n\nSaraca 拥有公司的控股权，并可对公司行使重大控制权\n\n由于 Saraca（萨拉卡）将拥有公司至少 80% 的普通股，他们可以对公司的业务和事务施加重大控制，并且拥有可能偏离普通股购买者的实际或潜在利益。无论公司的其他股东（包括普通股购买者）如何投票，Saraca 将对需要股东批准的所有公司行动拥有完全控制权，包括以下行动：\n\n- 选举或否决公司董事的选举；\n- 修改或阻止修改公司的《公司注册证书》或《公司章程》；\n- 执行或阻止合并、资产出售或其他公司交易；以及\n- 控制提交给公司股东表决的任何其他事项的结果。\n- Saraca 的持股可能会阻碍潜在收购方提出要约收购或以其他方式试图获取公司的控制权，这进而可能降低公司的股票价格，或阻止公司股东实现高于公司股票价格的溢价。\n\n公司可能没有经审计的财务报表，亦无需向投资者提供任何年度经审计财务报表或季度未经审计财务报表\n\n本公司可能没有经外部审计师审阅的经审计财务报表或经审计资产负债表。此外，本公司无须向投资者提供有关本公司的、可供投资者在分析对本公司的投资时使用的财务信息。因此，您作出向本公司投资的决定，必须基于其私募发行文件中向投资者提供的、不包含财务报表信息的信息；因此，在此随附提供的、供投资者据以作出投资决定的有限信息，可能无法完整或准确地反映本公司的财务状况。此外，作为一家不受《Securities Exchange Act of 1934（1934年证券交易法）》项下报告要求约束的私营公司，本公司无须向您提供年度经审计财务报表或季度未经审计财务报表。\n\n9.3 技术相关风险\n本公司可能无法成功推出新产品\n\n本公司目前预计将推出备忘录中所述的新产品和服务。尽管本公司相信其有能力开发这些产品和服务，但本公司无法保证本公司能够快速、具有成本效益地开发它们，和/或具备备忘录中所述的任何或全部功能。本公司推出的任何未能获得良好反响的新服务或产品，都可能损害其声誉和外界对本公司的看法。任何新产品或服务未能获得市场认可并产生收入，都可能对本公司及您的投资的业务、经营业绩、财务状况和价值产生重大不利影响。\n\n第三方运营和基础设施\n\n本公司的产品将依赖于不受其控制的基础设施、正常运行以及与客户设备及其他第三方运营和基础设施的兼容性。任何此类运营或基础设施都可能限制其产品的实用性或价值和/或本公司的整体业绩表现。\n\n未能满足客户期望\n\n如果本公司的服务或产品存在重大缺陷或错误，或者未能满足客户的期望，本公司可能会遭受收入损失、被要求进行成本高昂的改进，和/或受到负面公众报道。\n\n知识产权风险\n\n本公司可能会酌情寻求通过专利申请、商标注册和保密协议来保护其知识产权。本公司无法保证其为保护自身知识产权而采取的措施会取得成功。此外，本公司可能会面临他人提起的知识产权侵权指控。本公司未能防止其知识产权被侵吞，或者被指控侵犯第三方知识产权，都可能对本公司的业务、经营业绩和财务状况产生负面影响。\n\n技术不断变化\n\n为了保持竞争力，本公司必须不断强化和改进其产品。如果未来的竞争对手采用新技术推出新产品和服务，或者出现新的行业标准和惯例，其技术可能会被淘汰。本公司可能会低效使用新技术，或者未能使其产品适应客户需求或新兴行业标准。如果本公司在推出新解决方案方面发生延误，客户可能会放弃使用其产品而改用其竞争对手的产品。如果本公司未能有效应对技术变革，将对本公司的业务、经营业绩和财务状况产生重大不利影响。\n\n网络安全\n\n本公司依赖复杂的信息技术和通信系统来开展业务职能。尽管本公司努力采用旨在减轻此类风险的技术、流程和惯例，并保护其计算机系统、软件、网络和其他技术资产的安全，以及属于本公司的信息的机密性、完整性和可用性，但这些系统仍面临诸多不同威胁或风险，这些威胁或风险可能对本公司产生不利影响。例如，未经授权的第三方可能会企图不当访问、修改、破坏本公司的这些系统或这些系统内的数据的运行，或阻止对它们的访问。第三方还可能企图以欺诈手段诱导员工、客户、第三方服务提供商或本公司系统的其他用户披露敏感信息，以获取对本公司的访问权限。成功渗透或规避本公司系统的安全性可能导致数据或资金丢失或被盗、无法访问电子系统、专有信息或公司数据丢失或被盗、计算机或网络系统遭受物理损坏，或产生与系统修复相关的费用。\n\n此类事件可能导致本公司遭受处罚、声誉损害、额外合规成本或财务损失。","key_entities":["GTV","Je","Saraca","CIPA","Guo","Kwok","Miles Guo","CCP","Chinese Communist Party","Ho Wan Kwok"],"ecf_references":[],"word_count":8088,"status":"published","published_at":null,"created_at":null,"updated_at":"2026-08-23 08:08:43"}