NODE40

NODE40

A simple, transparent tax compliance solution for tens of millions of crypto users.

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Security Type
SAFE
Categories
Financial Services
Min Investment
$100
Location
Albany, NY
Offering Date
February 04, 2021
Expected Close Date
May 31, 2021
Target Raise
$200.00K-$750.00K
Deal Notes

Discount: 20%

Company Description

NODE40 is an intuitive and transparent cryptocurrency tax platform that simplifies the increasing complexity of tracking on-blockchain and off-blockchain transactions—enabling financial professionals to be leaders in blockchain and cryptocurrency accounting and ensure proper compliance management. NODE40 aggregates transactions from multiple sources, assigns cost basis, simplifies tax filing preparations, and more with unprecedented speed, transparency, and accuracy.

NODE40 offers cost basis tracking for the cryptocurrency industry. It is an essential software-as-a-service (SaaS) platform for accountants and auditors—going beyond traditional audit and tax services to simplify blockchain compliance.

NODE40 is a freemium subscription model, with paid subscriptions starting at $75 with seasonal promotional offers. Additional features are included with tiered plans leading up to a la carte pricing for customers or organizations with sophisticated or portfolios.

Key Deal Facts

NODE40 can read and evaluate activity from all of your cryptocurrency sources like wallets and exchanges, and provide a simple and clear summary for how to file your taxes.
Ability to examine blockchains activity that took place outside exchanges (on-chain tracking).
Patent-pending SMART Algorithm applies financial/IRS rules to movement within and between portfolios to focus on asset lifecycle and in particular, taxable activity.
Downloadable detailed and transparent audit records with tax forms to back up or explain your tax position to tax authorities or auditors.

Use of Proceeds

The founders have contributed around $1.1 million in capital since starting the company. The Issuer anticipates that the total cost needed for continued or expanded operations will be approximately $750,000. NODE40 is seeking to crowdfund an amount between the minimum of $200,000 and maximum of $750,000 through the Offering. The minimum of $200,000 will be for ongoing operations. If NODE40 is able to complete a successful Offering, the members of the Issuer have committed to provide or arrange for sufficient financing for the Issuer to cover the remaining balance of the cost to achieve company objectives. Please also see Section V –“Financial Statements” and Appendix A for more information.

Management Team / Advisory Board Bios

Perry Woodin
CEO
Perry's interest in blockchain technologies started with the financial incentives that digital currencies use to encourage network participation - from early Bitcoin mining to Dash incentivized full nodes. Perry comes to blockchain business development with over 20 years of experience in architecting and managing software applications and services.

Sean Ryan
CTO
Sean designs NODE40's technology roadmap and plays an active role in business development activities. He oversees key service offerings including blockchain hosting, blockchain accounting, and cost basis analysis. He continues to spearhead technology initiatives in the blockchain space and works closely with strategic partners to deliver highly scalable and fault tolerant solutions.

Mike Atwood
VP OF GROWTH & STRATEGY
Mike comes to NODE40 with over 20 years experience in the financial services space, where he managed and developed products and services for large financial institutions and payment providers, and spent significant time working in China, Middle East, APAC, Europe and Russia/CIS. Most recently he worked at Sovos, a leader in tax and compliance software space, where he led the sales effort for their crypto tax reporting line of business to land exchanges like Paxos and Gemini.

Deal Notes

Discount: 20%

Amount Raised : $0
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Security Description

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