{
  "uri": "alkn://truthloops/securities/pre-listing-legal-review",
  "contents": [
    {
      "uri": "alkn://truthloops/securities/pre-listing-legal-review",
      "mimeType": "application/json",
      "text": "{\n  \"source_role\": \"issuer_originated\",\n  \"observation_type\": \"representation\",\n  \"evidence_payload_retrievable\": false,\n  \"scope_temporal\": \"current\",\n  \"loop_id\": \"pre-listing-legal-review\",\n  \"branch\": \"securities\",\n  \"polarity\": \"positive\",\n  \"bounded_proposition\": \"Before admission or distribution, ALKN underwent the legal, compliance, documentation and operational review required by the applicable venue and offering structure.\",\n  \"required_evidence\": [\n    \"Venue-admission application\",\n    \"Issuer legal due diligence\",\n    \"Instrument-classification analysis\",\n    \"Offering-document review\",\n    \"Corporate authority\",\n    \"Beneficial-ownership checks\",\n    \"KYC/AML framework\",\n    \"Sanctions controls\",\n    \"Technical-token review\",\n    \"Transfer-control testing\",\n    \"Venue approval or admission notice\"\n  ],\n  \"closure_condition\": \"CLOSE only to the procedures evidenced by the venue or legal records. Do NOT imply that every venue performed an independent asset valuation unless its records expressly establish that.\",\n  \"do_not_publish\": [\n    \"\\\"The venue independently valued the nickel inventory\\\" — only if venue records expressly establish that\",\n    \"\\\"Pre-listing review confirms USD 1.64B valuation\\\" — pre-listing legal/compliance review does not validate valuation\",\n    \"Any framing that treats admission review as an asset audit\"\n  ],\n  \"linked_loops\": [\n    \"venue-admission\",\n    \"negative-listing-not-asset-validation\",\n    \"security-classification\",\n    \"regulation-s-basis\"\n  ],\n  \"status\": \"OPEN\",\n  \"effective_date\": \"2026-09-17\"\n}"
    }
  ]
}