3.9. General Procedures

Description of the general procedures for accounting for the tokens offered in the issuance, depending on the type of rights attached to said tokens

For the Issuer, there is no contractual obligation for BlockchainValley to provide other services or goods that (i) the delivery of the 4IR Tokens and (ii) the Digital Platform access.

In this context, for the Issuer, the 4IR Tokens are considered as services or goods still to be provided for accounting purposes. They are recorded by the Issuer as deferred income in accordance with Articles 323-9 and 619-7 of the regulation n°2017-07 dated 10 December 2018 of the Autorité des normes comptables.

The issuance of 4IR Tokens, at the time of their distribution to the subscriber, will allow either the execution of transactions (the only accepted means of payment) for goods, services or data; or the possibility for a given user to access specific or participative services on the Digital Platform that will be officially launched at the end of the Offer.

These elements lead to the conclusion that the tokens represent services still to be provided. The funds raised during the Public Presale and IDOs Sales will be considered as deferred income and will be recognized by BlockchainValley as effective revenue according to the 4IR Tokens’ delivery plan provided in Section 5.7.4.

In this context:

▪ 50% of the 4IR Tokens subscribed at the end of the Offer

▪ 12,5% after 12 months after the end of the Offer;

▪ 12,5% after 13 months after the end of the Offer;

▪ 12,5% after 14 months after the end of the Offer;

▪ 12,5% after 15 months after the end of the Offer.

The amounts raised during the Presale Offer and IDOs sales will have then been entirely recognized as effective revenue by BlockchainValley when the Subscribers will have all 4IR Tokens in their possession and will be in the position to use them on the Digital Platform.

The amount recognized as income will be the total sum subscribed during the Offer. For the purpose of the Offer, all transactions will be written in fiat in our books. The exchange rate at the time of a subscription in digital assets will determine the fiat value.