The collected funds with the aid of the ICO are put on the Sosnovkino Foundation account in the Cayman Islands.
Sosnovkino Foundation provides a loan to the Russian company Sosnovkino LLC which owns the land. Moreover, the Foundation owns 70% of the share capital of Sosnovkino LLC.
In October, 2017 Sosnovkino LLC under the contract transfers the funds for the construction of gas and water pipelines, electric and central sewage systems. The road works contractor starts construction in June, 2018.
After voting in December, 2017, Sosnovkino LLC chooses a real estate agency and enters into a contract for sale with an established price policy.
Funds from the sales are distributed among investors excluding current expenses and remuneration to the project developers. The investors receive income in the selected cryptocurrency.
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