<h1>Presale of tokens raises investor protection concerns: promotional claims, allocation conflicts, liquidity uncertainty, potential securities treatment (Howey test)</h1> A blockchain-based AI project is conducting a presale offering tokens at $0.012, reporting nearly 918 million tokens sold and about $3.41 million raised, with the next presale phase priced at $0.014 and a $100 minimum participation. The issuer allocates 30% of a 10 billion supply to presale, 30% to ecosystem growth, 20% to reserves and 20% to liquidity/listings and team incentives. Promotional analyst commentary projects a $1 listing target and large early ROI. From a legal perspective, the offering raises investor-protection issues: forward-looking promotional claims, allocation-related conflicts, liquidity and listing uncertainty, and potential securities/regulatory treatment depending on jurisdiction and token functionality.