T Stamp (IDAI) Registration filing summary

Company overview and business model

• Develops AI-powered identity authentication software for enterprise, government, and peer-to-peer markets, focusing on biometrics, privacy, and cybersecurity.

• Core technology, IT², irreversibly transforms identity data into tokenized identifiers, enabling secure authentication without storing sensitive data.

• Key markets include account opening, fraud detection, digital identity for financial inclusion, and alternatives to detention for government agencies.

• Major clients include an S&P 500 bank, Mastercard (for humanitarian and development purposes), and Fidelity Information Services (FIS).

• Strategic shift to a SaaS model with the Orchestration Layer, focusing on scalable, low-code/no-code identity solutions.

Financial performance and metrics

• As of September 23, 2024, market value of outstanding Class A Common Stock held by non-affiliates was approximately $2.79 million.

• Sold $460,229.80 worth of securities in the prior 12 months as of the prospectus date.

• The company received gross proceeds of approximately $2.0 million from the September 2024 offering, with potential for an additional $3.076 million if all Private Placement Warrants are exercised for cash.

• The company’s financial statements include a going concern warning from its independent auditor.

Use of proceeds and capital allocation

• Proceeds from warrant exercises will be used for general corporate purposes, including working capital, product development, potential acquisitions, debt retirement, and other business opportunities.

• Primary use of recent net proceeds was to fund the termination of transaction documents with HCM Management Foundation; remaining funds allocated to working capital and capital expenditures.