Is there any information on how the funds collected during the HPQ ICO (assuming the soft cap is reached) will be used?
Hello,
Thank you for your interest in HPQ and good question.
Here is the funds distribution for the soft cap USD1.65m (USD):
- Industrial park (deposit, rent, etc.): 90,000
- Clean room & workshop preparation: 70,000
- Industrial equipment & installation: 1,020,000
- Laboratory equipment: 140,000
- Raw materials & reagents: 60,000
- Factory operation expenses (utilities, labor, maintenance, etc.): 160,000
- Other expenses: 110,000
Figures are rounded to prevent any currencies fluctuation, etc.
The more we raise the more we will spend for industrial equipment, raw materials, operation expenses (will increase initial production capacity).
We plan to grow to 10,000TPA as a minimum plan to meet current demand (it is the capacity we can safely start from) and further to 30,000TPA in several years.
If you require a detailed financial plan/model please feel free to contact us via ico@hpq.io, or directly our CFO sami@hpq.io for more information.