7.2 Plans for fund management

Funds raised through private-sale will be used for developing Quiztok platform and its ecosystems. Distribution plans for Fund is as follows

1️⃣ Research and Development

The costs allocated to the development will be spent on the Quiztok platform development described in the white paper. It includes the cost of building Quiztok platform servers, implementing platform components, developing Quiztok Messenger apps, linking block chain system and testing etc.

2️⃣ Operating Costs

Twenty percent of the funds are used for company operations. Server costs, infrastructure, labor costs, management costs, and rental costs are all included for maintaining the company.

3️⃣ Marketing and Accounting Costs

30% of the funds are spent on marketing expenses to build partnerships and attract customers. Marketing is an essential tool to expand the ecosystem of Quiztok platform.

4️⃣ Security

10% of the funds are used to enhance the security of the Quiztok platform.

5️⃣ Legal Expenses

5% of the funds are used for legal issues for running the business.