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The following content is a paid release. It is provided for informational purposes only and should not be interpreted as financial advice. The statements, views and opinions expressed in this column are solely those of the content provider and does not reflect the views or opinions of CryptoMode.
COSTA MESA, Calif., Feb. 24, 2025 /PRNewswire/ — The following statement is being issued by Simpluris, Inc., Fund Administrator for the United States Securities and Exchange Commission, regarding the Impact Theory Fair Fund and Plan of Distribution.
NOTICE OF FAIR FUND DISTRIBUTION PLAN
In the Matter of Impact Theory, Inc.
Administrative Proceeding File No. 3-21585
For more information, users can visit www.ImpactTheoryFairFund.com
The United States Securities and Exchange Commission (“SEC”) has settled administrative proceedings (the “Order”) against Impact Theory (the “Respondent”). In the Order, the SEC found that from October 13, 2021, to December 6, 2021, Impact Theory violated Sections 5(a) and 5(c) of the Securities Act by offering and selling crypto asset securities known as Founder’s Keys without having a registered statement filed or in effect with the SEC or qualifying for an exemption from registration.
The SEC ordered the Respondent to pay $5,120,718.27 in disgorgement, $483,195.90 in prejudgment interest, and a $500,000.00 civil money penalty, for a total of $6,103,914.17, to the SEC. The SEC also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty collected, along with the disgorgement and interest collected, could be distributed to harmed investors (the “Fair Fund”).
The Fair Fund will be paid out according to the Plan of Distribution (“Plan”).
A summary of the eligibility criteria and claims process is below. Full details are available at www.ImpactTheoryFairFund.com. You may also request a copy of the Plan from the Fund Administrator via email at info@ImpactTheoryFairFund.com or by calling 833-285-3401.
Who is eligible to receive a payment from the Fair Fund? To receive a payment, users must have:
- purchased or acquired Founder’s Keys between October 13, 2021, and December 6, 2021;
- submitted a timely Claim Form;
- suffered a Recognized Loss as calculated under the Plan; and
- not been an Excluded Party under the Plan.
Claim submissions can be completed online at the Impact Theory Fair Fund website: www.ImpactTheoryFairFund.com. Claim Forms completed online must be submitted on or before 11:59 p.m. Eastern Standard Time on August 15, 2025.
For those unable to complete an online Claim Form or who have lost relevant credentials associated with wallets or exchanges required for online submission, a paper Claim Form can be requested from the Fund Administrator via email at info@ImpactTheoryFairFund.com or by calling 833-285-3401. A downloadable version of the Claim Form is also available at www.ImpactTheoryFairFund.com. Claim Forms submitted by mail must be sent to the address provided on the form and postmarked (or if not sent by U.S. Mail, then received) by August 15, 2025.
The Fund Administrator will send a Determination Notice advising each claimant who timely submitted a Claim Form of their eligibility determination and will provide a calculation of Recognized Loss to those determined to be Eligible Claimants. The Fund Administrator may consider disputes of an Eligible Claimant’s Recognized Loss calculation if timely submitted in accordance with the Plan.
This notice is a summary. For more information, users visit
www.ImpactTheoryFairFund.com
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
