Stock IPO and token listing, rights divided into two routes

Simultaneous listing is not a promise to list on the same day, but rather means strategically linking the target timing of the two projects. The actual listing date and schedule will be determined by regulatory review and each market's review.

The Korean subsidiary aims to build sales and corporate value through OTA/RWA platforms, AI Agent, Oracle/API, B2B technology services, and IP licensing. We plan to prepare for IPO by reorganizing our accounting, legal, and internal control systems.

The Company stated that it is considering a structure in which it would be the founder and initial contributor of assets to the Swiss foundation. The proposal assigns token issuance, tokenomics, treasury and ecosystem policies to the foundation, linked to the Korean company through technology development, operating and licensing agreements.

Shareholder rights, such as voting rights and dividends, and token holders' rights to use the ecosystem are differentiated. It was explained that this is not a structure in which one can acquire company stocks just by holding tokens or automatically acquire token rights just by holding stocks.

The plan is to confirm the token's function and legal classification through a review of Swiss laws and regulations and an exchange review.

The accompanying institutional proposal considers multiple valuation scenarios based on a target capital raise of KRW 20 billion. It includes KRW 10 billion, 20 billion and 30 billion funding scenarios, pre- and post-investment ownership structures, financial assumptions for 2027–2031 and exit sensitivity analysis.

The parts without actual financial data are expressed as assumptions and divided into Base, Upside, and Downside, and it is explained that token price increases are not included in stock returns by default. This figure is different from the 16 billion won in the follow-up general public offering plan on September 26 in terms of the timing of announcement and nature of the data.