SEC Charges Issuer, Kik Interactive, Inc., With Conducting $100 Million Unregistered ICO

SEC Charges Issuer, Kik Interactive, Inc., With Conducting $100 Million Unregistered ICO

Washington DC (STL.News) – The Securities and Exchange Commission today sued Kik Interactive Inc. for conducting an illegal $100 million securities offering of digital tokens.  The SEC charges that Kik sold the tokens to U.S. investors without registering their offer and sale as required by the U.S. securities laws.

As alleged in the SEC’s complaint, Kik had lost money for years on its sole product, an online messaging application, and the company’s management predicted internally that it would run out of money in 2017. 

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