The ProspectusApp is created by Comistar Estonia, an advisory office for SMEs with focus on blockchain and capital markets. Mikk Maal, the CEO of Comistar Estonia and founder of the ProspectusApp, has advised several token projects in the past and is now involved with the security token space through legal advisory and developing primary issuance platform TokenizEU.

Mikk is also co-authoring a blog at and a bestselling e-book “Navigating Through Cryptocurrencies: Introduction, Investing, ICOs, Scams and Interviews” (number one in three categories on Kindle store in late 2017). Founding partner of Digital Renaissance Foundation, which helps to connect Nordic blockchain projects and Chinese speaking blockchain community.

For Companies
Raising Capital

Legal compliance and documentation is one of the first things to get right if you’re going to launch an STO project. While the ProspectusApp does not substitute a good lawyer, it helps to reduce the time and billable hours you need to pay. We’ve built this app according to the new European Prospectus Regulation and the new growth prospectus regime for SMEs.

We have guidelines and questions to which you need to answer in as much detail as possible to prepare your prospectus draft. If you do not know how to answer to some of the fields in the app, you can leave comments and notes to the lawyer to review and supplement your prospectus later. You can invite a lawyer from our marketplace or suggest an external lawyer you want to work with.

What we believe

The ProspectusApp is built to be an interactive tool for projects and lawyers to simplify the process of preparing a compliant prospectus. We believe we can help to reduce the legal fees from 10 000€ to 30 000€, dependent on the Member State. Our belief is based on the insight that law firms generally charge 50 – 100 billable hours at this first stage of preparing the prospectus draft. While we can’t guarantee exact figures, we can guarantee the eventual cost-savings.