By Shiela Bertillo
The Securities and Exchange Commission (SEC) released an advisory to the public to be cautious when transacting with individuals or groups soliciting investments for and on behalf of FUTURE FARMING/FUTURE FARMING ICD/FUTURE FARMING FF STORE (“FUTURE FARMING”). This is in response to numerous reports received by the Commission regarding the activities of the firm.
The SEC is emphasizing that Future Farming is not registered as a corporation or partnership and is not authorized to solicit, accept or take investments from the public nor to issue investment contracts and other forms of securities defined under Section 3 of the Securities Regulation Code (SRC) since it does not have a secondary license issued by the Commission to solicit investments or other securities from the public for whatever purpose as prescribed under Sections 8 and 28 of the SRC.
According to the SEC, Future Farming is an app/webpage application/virtual farm where investors grow, harvest and sell their products such as Vegetables, S-Vegetables and Chickens with corresponding tasks. However, investors would first need to have a Binance account with at least $10 required balance before they can start growing their vegetables and chickens in their virtual farms.
