Disclaimers

고지 사항: 이 백서는 영어 버전이 공식 문서입니다. 다른 언어 버전은 참고용입니다。

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General Disclaimer

THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY

Nothing in this whitepaper or on the PIPO platform constitutes:

• An offer to sell securities
• A solicitation to buy securities
• Investment advice
• Tax advice
• Legal advice

Consult qualified professionals before making any investment decisions.

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Risk Disclosure

Investment Risks

You may lose your entire investment. Covered warrants are complex
derivatives with significant risks including:

├── Total loss of principal
├── No guarantee of returns
├── Volatility in pricing
├── Illiquidity
├── Oracle/pricing errors
├── Smart contract failures
├── Regulatory changes
├── Platform operational issues
└── Underlying company failure

Specific Risks

Risk	Description
Market Risk	Warrant values fluctuate with underlying valuations
Liquidity Risk	May not be able to exit at desired price
Oracle Risk	Prices depend on committee determinations
Technical Risk	Smart contracts may have bugs
Regulatory Risk	Laws may change, affecting operations
Counterparty Risk	Platform operational continuity

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No Representations

Forward-Looking Statements

This document contains forward-looking statements regarding:
├── Future product features
├── Potential token launch
├── Market projections
├── Business plans

These are NOT guarantees. Actual results may differ materially.

No Audit Opinion

Financial information presented is unaudited and for illustration only.
No independent audit opinion has been rendered on:
├── Reserve claims
├── Revenue projections
├── Business model viability
└── Technology functionality

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Jurisdictional Notice

US Persons

IMPORTANT: PIPO services are NOT available to US persons, including:
├── US citizens (worldwide)
├── US residents
├── Green card holders
├── US corporations
├── US trusts
└── US partnerships

Accessing PIPO from the US or using VPN to circumvent restrictions
is a violation of Terms of Service and may be illegal.

Other Restricted Jurisdictions

Services are NOT available in:
├── China (mainland)
├── North Korea
├── Iran
├── Cuba
├── Syria
├── Crimea region
└── Other OFAC-sanctioned territories

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Limitation of Liability

Platform Liability

PIPO, its affiliates, directors, employees, and agents shall not be
liable for any:
├── Direct, indirect, or consequential damages
├── Loss of profits or data
├── Business interruption
├── Technical failures or errors
├── Third-party actions
└── Force majeure events

Maximum liability limited to fees paid by user in preceding 12 months.

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Governing Law

Jurisdiction

Legal Framework:
├── Governing law: [Cayman Islands / Singapore]
├── Dispute resolution: [Arbitration venue]
├── Language: English (controlling)
└── Forum selection: Exclusive jurisdiction agreed

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Acknowledgment

By using PIPO, you acknowledge that you have read, understood, and agree to:

• This Risk Disclosure
• Terms of Service
• Privacy Policy
• All applicable disclaimers

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Contact

For legal inquiries: [email protected]

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Last updated: [Date] Document version: 1.0