Please read the following notice carefully before proceeding to read this document (hereinafter “whitepaper”). This notice applies to all persons who read this document. Please note this notice may be altered or updated.
This whitepaper has been prepared to educate and advance a general understanding about Ura. Ura is money drawn on Accounts Receivables (Tokenization of AR) held by Resource Mobilization Inc (“RMI”). RMI Asset Holding Company incorporated in the British Virgin Islands. Ura is intended to be a Utility, for assignment of the company’s accounts receivables with the objective of contributing to the availability of capital and credit in international trade. The term URA was derived from the acronym for Universal Receivables Assignment – and adopted on 11/14/14 by board resolution to be the name of the money drawn on the receivables of RMI and its affiliates. The information set forth below may not be exhaustive and does not imply any elements of a contractual relationship or constitute any relations between you and distributors. Its sole purpose is to provide relevant and reasonable information to the reader as a potential Ura holder.
Distributors of this whitepaper accept responsibility for the information contained herein. Reasonable care has been taken to ensure that, the information contained in this whitepaper is in accordance with the facts available and contains no omission likely to affect the utility of Ura.
The Whitepaper is being made publicly available for information purposes only and does not require any action to be taken by the public. You, as the recipients of this whitepaper, should familiarize and inform yourself with all the information set out in this Whitepaper, all potential risks, applicable regulations that you should consider and observe. We recommend that you seek out independent professional advice to not only give you sound professional advice but also ensure that you are aware of all of the would be risks before engaging in any sort of business endeavor.
This whitepaper is the primary official source of information about Ura. The information contained herein may from time to time be translated into other languages or used during written or verbal communications with existing and prospective customers. In the course of such translation or communication some of the information contained herein may be lost, corrupted, or misrepresented. The accuracy of such alternative communications cannot be guaranteed. In the event of any conflicts or inconsistencies between such translations and communications and this official English language whitepaper, the provisions of this English language original document shall prevail.
The use of this whitepaper is deemed to be your acknowledgment and agreement to our Privacy Statement and the Disclaimers. For this entire document, all rights are reserved.
1. Not legal advice
The information contained in this whitepaper is not legal advice as the content has been prepared without considering your legal circumstances, objectives, or needs. Distributors, its employees, or contractors who wrote or modified the information herein are NOT providing legal advice and are NOT creating or entering into an Attorney-Client relationship. This whitepaper is NOT a substitute for the advice of your own attorney.
2. Not investment advice
The contents of this Whitepaper are not a financial promotion, nor should they be construed as investment or tax advice; therefore, none of the contents of this Whitepaper serves as an invitation or inducement to engage in any sort of investment activity not proffer investment advice in any way whatsoever. Nothing in this whitepaper shall be deemed to constitute a prospectus of or a solicitation for investment or an offer of any investments in any jurisdiction. This whitepaper is not composed in accordance with any law and is not subject to the laws or regulations of any jurisdiction designed to protect investors. Please seek out your own investment advice or information.
3. Not securities prospectus
Based on the famous Howey test the Ura are not securities or a collective investment scheme because (i) the Ura do not grant to the User any voting or ownership rights; (ii) the Ura do not grant to the Holder any return on investment; and (iii) the Ura do not grant to the Holder any profit and passive income from the ownership of the Ura; therefore, the Ura are not securities and are not intended to constitute securities in any jurisdiction and are not registered with any government entity as a security, and shall not be considered as such. Nothing in this whitepaper shall constitute a prospectus or oﬀer document of any sort and is not intended to constitute an oﬀer of securities or a solicitation for investments in securities in any jurisdiction. This whitepaper is not composed in accordance with and is not subject to the securities laws of any jurisdiction in which a potential Ura buyer and/or holder is a resident or laws of any jurisdiction designed to protect investors.
4. Not shares prospectus
This whitepaper does not constitute an offer or invitation to any person to subscribe for or purchase shares, stock or any other rights in distributors. Thus, no shares or other stock of distributors are being offered for subscription or sale in any jurisdiction pursuant to the Whitepaper.
5. Forward looking statements
Some of the statements, estimates and financial information contained in this whitepaper are forward-looking statements and information which reflect distributors' current views with respect to the demand for virtual currency. Statements which include the words ''expects'', ''intends'', ''plans'', ''believes'', ''projects'', ''anticipates'', ''will'', ''targets'', ''aims'', ''may'', ''would'', ''could'', ''continue'' and similar statements are of a future or forward-looking nature. All forward-looking statements address matters that involve risks and uncertainties.
Accordingly, there are or will be important factors that could cause the actual utility of Ura to differ materially from those indicated in such forward-looking statements.
The cautionary statements made in this whitepaper should be read as being applicable to all related forward-looking statements wherever they appear in this whitepaper. These forward-looking statements speak only as of the date of this whitepaper. Subject to acceptable market disclosure and transparency rules and common practices, distributors undertakes no obligation publicly to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. All subsequent written and oral forward-looking statements attributable to distributors or individuals acting on behalf of distributors are expressly qualified in their entirety by this paragraph. Prospective buyers and holders of Ura should specifically consider any factors identified in this whitepaper before making a purchase decision.
THE URA REFERRED TO IN THIS WHITEPAPER HAVE NOT BEEN REGISTERED, APPROVED, OR DISAPPROVED BY THE US SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION IN THE UNITED STATES OR ANY OTHER REGULATORY AUTHORITY NOR ANY OF THE FOREGOING AUTHORITIES EXAMINED OR APPROVED THE ACCURACY OR THE ADEQUACY OF THE INFO RMATION CONTAINED IN THIS WHITEPAPER UNDER, THE U.S. SECURITIES ACT OF 1933 AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION. BUYERS OF URA REFERRED TO IN THIS WHITEPAPER SHOULD BE AWARE THAT THEY BEAR ANY RISKS INVOLVED IN THE PURCHASE OF URA, IF ANY, FOR AN INDEFINITE PERIOD OF TIME.
No regulatory authority has examined or approved any of the information set out in this whitepaper. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of this whitepaper does not imply that the applicable laws, regulatory requirements, or rules have been complied. Thus, this whitepaper is not approved, endorsed by, or affiliated with any state, government or licensing entity.
To the maximum extent permitted by the applicable laws, regulations and rules, distributors and its aﬃliates and their respective oﬃcers, employees or agents will not be liable for any damages of any kind, including, but not limited to, direct, consequential, incidental, special or indirect damages (including but not limited to the utility of Ura that result from use or loss of use of Ura). INFORMATION IN THIS DOCUMENT IS PROVIDED “AS IS” WITHOUT ANY WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR OTHERWISE, INCLUDING AS TO LEGAL EFFECT AND COMPLETENESS. Neither distributors nor its Attorneys give any warranties or represent that the whitepaper is accurate or complete. When accessing this whitepaper, you must rely on your own judgment and the advice of your own professional advisers as to the accuracy and completeness of this whitepaper.
For the avoidance of doubt, distributors, its Attorneys, and its employees expressly disclaims any and all responsibility and liability for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in this whitepaper, (ii) any error, omission or inaccuracy in any such information, (iii) any action resulting therefrom, or (iv) usage or acquisition of Ura.
Introduction | The Challenge
Even though the receivables market is liquid, this is only true for those people and organizations already in the "system" – i.e. brokers, financial institutions and accredited investors running businesses in UN convention covered transactions namely forfaiting, factoring, asset-based lending, securitization, and project finance transactions. The ordinary end client is unfortunately forced to go through all the levels of hell in the form of know-how, know-your-customer (KYC) and compliance checks at each and every level of the receivables exchange cycle, signing of contracts, paying of commissions, etc which has caused them to opt out of receivables trading thus locked out of the benefits arising out of receivables trading.
The trade of Receivables is further hampered by (i) the low levels of understanding of the receivables market by the end client who because Receivables are varied, lump receivables into one Asset Class and consider their trade to be the same as factoring; (ii) lack of sufficient receivables finance data that is standardized, transparent, or granular, making it more difficult to package; (iii) the fact that receivables as an asset is not a visible and has very limited information on pricing; (iv) funds that have invested in receivables typically are not scalable, and mention the high barriers of entry to develop product due to the need for expertise around custody, settlement and documentation; (iv) due to the potential for large information asymmetries, assessing and maintaining underwriting standards is problematic thus reducing investors’ willingness to provide funds; and (v) barriers to trade such as the red tape around receivables exchange which constitutes the main reason why end client change their mind about trading receivables.
Quite apart from (i) the above challenges, barriers to trade and exchange and friction that discourage trade of receivables, (ii) the fact that Receivables are difficult to physically transfer or subdivide such that buyers and sellers have instead traded paper that represents receivables which have resulted in complex and cumbersome paper and legal agreements, that are difficult to transfer and hard to track, (iii) the advent of a tough economy characterized by increased competition and new technologies, and (iv) Prompt development of digitalization in all sectors triggers change within the receivables market as a sub-sector of the financial market because existing approaches to exchanging receivables are no longer in-demand as the procedures are complicated, long and cannot keep up with the pace of change, that new technologies bring to virtually every aspect of one’s life. Tokenization has come along to provide reliable instruments and revolutionize the receivables market and the financial industry as a whole to create extremely simple, convenient systems, where within minutes you can get money on the exchange or trade of tokenized receivables as well as withdraw capital . Ura places tokenization of accounts receivables in its rightful place as the most honest form of money.
The Solution | Ura
The modern solution is tokenization. Ura has thus simplified the assignment of RMI and its affiliates accounts receivables and extended the benefits of Ura to all via Ura as a currency. Ura is digitizable and distributable via blockchain. Ura distribution via traditional circulation of money or in digital form or via blockchain is exchange of honest money, therefore exchange of Ura in coins, bills and tokens, digital distribution any form or via blockchain technology is exchange of honest earned money.
Ura is designed to be a non-recourse true sale of account receivables. Because Ura is a store of the value of accounts receivables and because it is easy to exchange, it makes Ura good to be used as medium of exchange, a store of value, and a standard of value; unit of exchange and transfer of value without legal, technical, or operational complications. Kindly be advised that Ura is a token that is not backed by accounts receivables but rather is the accounts receivables themselves that have been tokenized into coins, bills, prepaid cards for ease of exchange physically and digitally via blockchain technology.
Subject to Issuer's Reserve Policy, the technical limit of the amount of Ura in circulation is equal to 100% of all accounts receivables held by Resource Mobilization Inc as at 11/14/14 drawn at the rate of US$1.00 worth of receivables held for U1.00 (One Ura). Any additional Ura issue shall be subject to reserve policy of RMI from time to time. There is therefore a finite amount of Ura in circulation at any point in time. Subsequent value of Ura shall be equal to the current value of each unit of Ura in relation to the US Dollars of the original receivables and the value the
URA can be purchased from or exchanged by any URA holder anywhere in the world including katota malls
Ura existence will promote the availability of capital and credit and thus facilitate global development as was envisaged in the UN convention on Assignment of Receivables in International trade.