Eastman Kodak announced on January 30 that the launch of their KODAKCoin cryptocurrency would be delayed to date. evaluate the status of potential investors. The delay was announced the day before the launch of the Initial Coin Offering (ICO), according to the January 9 press release.

As explained on the company's website, Kodak intends to launch an ICO offering security tokens as "exempt offer" – this means that the company does not must not register its guarantee with the SEC (Securities and Exchange Commission), but only "accredited investors" can participate in the ICO. The SEC requires that an accredited individual investor has a net worth greater than $ 1 million, or an annual income of at least $ 200,000, as well as other conditions.

The company claims to need "several weeks" to verify accredited investors "status of those who have applied to invest in the ICO, which Kodak reports is more than 40,000 people

Potential investors from outside the United States will be considered in accordance with their local jurisdictions, the compa ny added.

According to Marketwatch, Kodak stock prices ( KODK) rose sharply after the release of the press release on January 9, rising from 3.1 to nearly $ 11 the next day, however, after the announcement of the delay on January 30, the stock price fell by more than 18% and continues to decline on February 1.