In the use of proceeds you have stated that 45% will be used for Operating expenses, honestly, I have never seen anything like this before. Why do you need to spend nearly half of the funds raised on operating expenses? Can you please explain a bit? Thanks
hi,
Thanks for this question, which allow me to be more detailed on our allocation
Yes, we will allocate 45% on operating expenses, this will include:
- hiring and salaries (we will need traders, risk analys, qwant, blockchain developpers, administrativ skills etc.): those hiring have a big cost, in term of find the right profil, and salaries expected
- expensions: Since we have seen that our project has a lot of traction of different part of the world, our idea is to be big fast. So we are going to open offices ifast, to be able to adress the insitutional & retails clients; This means open several offices in the world, have representative, materials to work with, etc.
- licences & day to day expenses: as asset manager, we need to work with some software / providers that cost money. Also, we have transactions fees and custody needs.
- Developpe new funds or strategy: as a company, we will probably need to evolve, to respond to the changes of the market. Our idea is also to be able to launch others funds
Overall, we have the experience of an asset management company (
https://trecento-am) since 7 years, and we know that operational expenses are the biggest, even if it's not sexy to show
Also, to conclude, our goal is not to spend the ICO money in 1 year. We want to build a real company, and manage our cashflow, and our cost has been evaluate for the next few years (2-3 years)
Don't hesitate to join our telegram group if you have any questions
https://t.me/trecentobcroomThanks
