Run a software company that has already raised money? Here is how the share register stops being a liability.
If you have revenue, contracts and a share register that has survived three rounds and two SAFEs, every investor, lender and acquirer asks for the same forty documents, and somebody rebuilds them every time. This page is what we do about that.
- ✓Not a broker-dealer
- ✓Not a law firm
- ✓Never a percentage of the raise
TechnologyWhy company equity tokenization is slow today, and what fixes each problem.
Written in the owner’s words. If yours is not on the list, the readiness score will find it in about eight minutes, and nobody calls you.
The register has never been reconciled
The record lines up articles, register, option ledger and every note, and names the conflicts.
One cap table the law will believe.
Every raise is a data room from scratch
The record is built once; the next round, the lender and the acquirer read the same link.
A second diligence faster than the first.
Most rounds should not be tokenized
The score says so in about eight minutes, before anyone sells you anything.
An honest answer, and the record either way.
The record, the raise and the token, one after another.
Intelligence
Because a company should know what it owns before anyone else does.
The share register reconciled to the paper behind it
The articles, the register, the option ledger, every SAFE and every note. The record shows where the spreadsheet and the documents disagree, and which of the two the law will believe.
Revenue straight from the system that produces it
Figures pulled from the accounting software rather than retyped into a slide. The number and the place it came from sit next to each other.
One record for every future ask
The next round, the lender, the auditor and an eventual buyer all open the same link. Your second diligence starts where the first one stopped.
Raisable
Documents drafted from your own record
The memorandum, the subscription agreement and the investor questionnaire are written from facts that are already reconciled, so your lawyer judges a near-final draft instead of writing the first one.
A proper way for employees and early holders to sell
A defined window, an exemption chosen by your lawyer, buyers whose eligibility is verified, and a register that updates as the money arrives. Not a spreadsheet and a bank transfer.
A flat fee for the window, never a percentage
A licensed broker-dealer runs any regulated sale. No success fee, no carry, no cut of the round at any layer of ours.
Compass
Because the register should be the cap table, not a copy of it.
A list of owners that is right the moment a share moves
The register lives in the asset itself. Employees, angels and an institution can hold the same instrument under different limits, and the shareholder agreement is enforced by the contract rather than remembered by somebody.
What you getA cap table that cannot drift from the documents.
Approval to transfer becomes a check, not an email chain
Right of first refusal, lock-ups and board consent are conditions the asset itself runs. A transfer that would break one of them does not go through.
What you getTransfers that check the rules before they settle.
A path to secondary trading, on rails you do not depend on us for
Issued on an open standard, settled in USDC, a digital dollar. Whether a venue lists it is the venue’s decision, and the register does not depend on Stobox continuing to exist.
What you getA path to secondary trading you do not depend on us for.
Company equity tokenization side by side: the same four questions, before and after.
Nothing here needs the rest of the page. If the right column is not worth the work to you, the answer is no, and that is a fine answer.
The list of owners
A spreadsheet that drifts from the paperwork
The register itself, right on every transfer
Investor diligence
Rebuilt for each round
One record, read by every round
Employees selling shares
Rare, manual, lawyer-heavy
A defined window, inside the rules, on your address
Shareholder rules
In a document somebody has to remember
Checked by the contract on every transfer
Company equity tokenization case studies: named work, and the marks that go with it.
Software, hardware and telecom companies are the second largest group in the register. Three are below, and the other names follow.
Pylon
We structured a securities offering that paid for hardware at a Y Combinator-backed utility management company, without going back to venture capital for it.
Equipment can be financed against contracts rather than by selling more of the company.
Atlastek
We structured equity rounds across several related companies at once, in telecom and property, so the founders could raise more while keeping control.
A group of companies can raise as a group, without collapsing into one balance sheet.
Contracoin
We built the incentive design and the token economy behind a utility token that went on to trade on a major exchange.
How a token is used decides whether anyone wants to hold it after the raise.
Documents needed for company equity tokenization, and who has to have issued them.
Every answer in the record carries its document and a proof tier from T0 to T5. A number you typed and a number from a registry both get in, and they are not stored as though they were equal.
Certificate of incorporation and articles
T5A registry
Share register and option ledger
T3Your books
Every SAFE, note and side letter
T4Signed by the other side
Reviewed or audited accounts
T5An auditor
Revenue from the accounting system
T3Your books
Where this usually stops: stage 05 · Issue. The existing cap table has to be reconciled with reality before it becomes chain state. The six stages are on the Compass page. T5 is issued by an authority, T4 is signed by the other side, T3 is your accounting system of record; anything asserted without a document sits at T0, and the score will say so.
Updated 3 October 2026
Talk to usIs technology right for your asset?
Tell us the asset and the jurisdiction. A specialist answers in plain words, and says what is still in development.
Company equity tokenization terms: six words this page uses, in plain English.
You do not need any of this to talk to us. It is here because these words get used at you in meetings, and knowing them is worth more than nodding along.
Cap table
The list of everyone who owns a piece of the company, and how much. It is the asset itself in a private company, which is why it being wrong is expensive.
SAFE, and convertible note
Two ways of taking money now and deciding later how much of the company it bought. They are the most common reason a cap table and the paperwork disagree.
Option ledger
The record of shares promised to employees, on what terms and when they earn them. It sits outside the share register and is regularly forgotten in one of the two.
Secondary
A sale by an existing shareholder, usually an employee or an early investor, rather than the company issuing new shares. The company gets no money; the seller does.
Right of first refusal
A rule that says existing holders get the chance to buy before an outsider can. It is normally in a document somebody has to remember; written into the asset, it is enforced automatically.
Lock-up
A period during which a holder has agreed not to sell. Also usually a document, and also enforceable by the asset itself.
When company equity tokenization is not for you: three cases, in advance.
Said here so you can leave without a call. It is cheaper for both sides than discovering it in week six.
A company before revenue, where what you are really selling is a plan.
A register nobody has ever checked against the documents behind it.
A network token, a community allocation or a listing. We do none of the three.
Primary sources: Securities Act, section 4 - exempted transactions – 15 U.S.C. 77d · Regulation D, Rule 506 – 17 CFR 230.506.
Find out where it stands.
Score your asset
Twenty-five questions across seven dimensions, about eight minutes, no email to see the result.
Take the Readiness ScoreAsk the founder, live
The monthly webinar with Gene Deyev: 40 minutes on Zoom, once a month.
Join the monthly webinarBook a call
Bring the asset and the score. We will say what is missing, and say so if the answer is no.
Book a callStobox Technologies Inc. Nothing on this page is an offer to sell or a solicitation to buy any security, and nothing here is legal, tax or investment advice. Stobox is not a broker-dealer and not a law firm; regulated activity runs through licensed firms.