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“Toboggan” Coaster project’s ICO Tsakhkadzor city, the Republic of

Discussion papers

1 Why this project? The market, namely, the stream of tourists needs no stimulation by advertisement and even likely will not

More than a hundred successful cases, dozens of countries and years, embodying the long-term viability of the "product"

Monopoly advantages as a result of ideal placement, synergy with key facilities and high demand for dizzying and simultaneously safe entertainments

Ensuring the highest safety - the facility is subject to mandatory TÜV SÜD certification

The project is 90% ready for ICO: land leased, geodesy carried, architecture designed, web-site, publications, four-languages video, TV interviews, communication channels established…

Team’s proficiency

Rare opportunity to refund the purchase with the solid fixed-size premium or to receive the tickets under low risks estimated

About Armenia, Tsaghkadzor, the Project and the special motivation for investors – vividly in our short video https://www.youtube.com/watch?v=02980Bhuuzg – and herein below, including infographics in Appendices

2 What makes it different? First ever ICO for Amusement Ride!

First ICO in Armenia in real sector!

First-of-a-kind project in Armenia!

First in Armenia dizzying and simultaneously safe entertainment! The attraction is suitable for thrill-seekers of any age: even children from 3 to 10 y.o. can get the thrill, when accompanied by adults! All year round! All season! All weather! Up to 24/7!

A role model and stimulus for new ICO in real sector, for international entrepreneurship, investment inflows and free short- term liquidity to the banking sector

Popularization of , industry with the high priority for the State, with it’s the only mountain and surely popularization of

Product with no restrictions on buyer’s purchase power – future ticket is just now 4 USD equivalent and min purchase to be refunded is 480 USD equivalent

with reasonable benefits but low risks and surely limited by total volume (hard cap)

available for cryptocurrency only, but cryptocurrency can be easily bought

What do such cases give globally? No more, no less but obvious, the usage of cryptocurrencies in real sector, in investments, in paying for goods and services… determines 3 directly their future and current capitalization Executive summary Project:

Speed rail track – Mountain Coaster length: 1025 m Address: Armenia, Tsakhkadzor city, Tandzaghbyur street Uphill length: 203 m Downhill length: 822 m Load forecast: 150 000 rides per year Yearly average: 410 rides per day Minimum - maximum: 77 - 1 333 rides per day Ticket price for an adult incl VAT: 3 000 AMD or $6.2 Facility construction period: 3 months Commercial Operation Date: Jul-2022

ICO:

ICO hard cap (126% of the budget excl VAT): € 1 549 681 Payments structure if hard cap is not hit: L/C ICO soft cap (84% of the budget excl VAT): € 1 039 198 Token sale price equivalent: $4 Tickets-for-tokens exchange ratio: 1 for 1 Refund equivalent if exchange for the ticket is refused: $5 ICO campaign starts in: Oct-2021 Exchange for tickets and buy-back are starting in: Jul-2022

4 Short SWOT analysis Strengths and advantages First-of-a-kind project in Armenia Monopoly-like conditions – the construction of another mountain coaster in Tsakhkadzor has no economic sense The chosen area has the maximum commercial potential for mountain coaster in Tsakhkadzor, as:  it’s visible from each tourist route: directly from the church of Kecharis, on the road to the rope way, from the pedestrian "serpentine" ...  adjoins one of the two key arterial roads of the city leading to the rope way  provides an easily seen view along the uphill and downhill track parts due to a successful combination of forest and glades  synergy expected due to the neighborhood with the zipline attraction in operation: its customers can use Toboggan as an elevator for a fee (see the sketch on the right) No age limits practically: Toboggan is available for customers over 3 y.o. accompanied by parents, and over 10 y.o. - unaccompanied No weather restrictions practically Up to 24h a day The project will contribute tourism popularization in Armenia

Threats, Vulnerabilities, and Risks Lack of economic sense in scaling up the project The risk of injuries and accidents, but in practice it is compensated by duties, liability and compliance with safety rules and by compulsory insurance 5 Team

Maksim Sychev Sergey Minasyan Seyran Harutyunyan

Co-owner Founder Founder, Co-owner

https://www.linkedin.com/in/mmsychev https:// www.linkedin.com/in/sminasyan www.facebook.com/serian.harutyunyan

Financial management professional with Seasoned professional with 15-years’ Entrepreneur with many years experience many years experience in corporate experience in commercial banking for SME finance and banking and large corporate customers. Engaged in small business in Tsakhkadzor: rent of ski, CFA program candidate, I level exams Held managerial positions equipment, skates, bicycles, and also passed in international banks, participated in IT installation and operation of an ice rink transformation of customer relationship, since 2005 Acting lecturer at Training Center of Audit lending and transaction processes Chamber of Russia http://www.kumc.ru/ Mountain team coach, previously Executive MBA, IE Business School, Madrid, Master of Sports of International Class 2016

6 Team

Aleksandr Khachaturyan Rafik Margossian

Co-owner Communication manager

www.linkedin.com/in/akhachaturyan https://www.facebook.com/raffi.markosyan

Attorney with more than 13 years of SMM experience advising multinational and domestic corporations and financial Translator and interpreter: Arabic, English, institutions on various corporate and Armenian, Farsi financial matters Voice actor Held high-ranking position in the government of Armenia and was supporting the GoA in the design and implementation of a number of important reforms in economic and business environment sector

Holds Bachelor and LL.M degree from French University in Armenia and LL.M from Boston University School of Law 7 Project’s status

Registered Park Lop LLC in Tsakhkadzor city

Of the many land plots in the city of Tsakhkadzor, selected an area with the best commercial potential for the mountain coaster, signed a long-term lease agreement

Chosen a supplier with the lowest price and the highest safety requirements – Josef Wiegand GmbH & Co. KG

Carried out geodesic work on the project area, determined the exact coordinates of the track

The Wiegand company has developed the track design (see right), submitted a commercial proposal, the main contract is being drafted

Had design and construction documents developed including the building for the warehouse, cash-office, café..

Made advance payment to rail-track producer

The project is 90% ready for ICO: land leased, geodesy carried, architecture designed, web-site, publications, four- languages video, TV interviews, communication channels established…

8 Appendices:

A 01: General assumptions and tourism statistics

A 02: Tsakhkadzor city entertainment industry insight

A 03: Producers market and tracks prevalence insight

A 04: The most demanded tracks

A 05: Location of the project on the map

A 06: Demand for rides at similar tracks

A 07: Ticket prices at similar tracks

9 Attachment 01: General premises and tourism statistics

Tsakhkadzor is: , mln people 3.44

2.58 2.74 the second most popular center of tourism: 2.24 holidays, leisure activities and physical training – 2.06 2.06 1.89 1.63 1.65 in RA after Yerevan 1.36 1.49 1.42 1.25 1.20 1.19 1.26 0.96 0.38 0.84 a city interesting for a visit to about 50% of all 0.76 1.54 0.86 0.87 0.98 1.09 1.09 1.05 RA tourists 0.49 0.51 0.67 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

the only ski resort in RA Internal tourism

one of the most significant centers of pilgrimage in Armenia, famous for its ancient, XI century Kecharis monastery Number of facilities in Armenia * 702 652 549 556 The second largest city in the RA by the hotel 474 facilities number 409 387 59

At the same time, Tsaghkadzor significant lacks 143 157 413 such open-air entertainment services that could be available for most of the day, all year round, regardless of age and fitness 2011 2012 2013 2014 2015 2016 2017 2018 2019

including Yerevan including Tsakhkadzor

Source: NSS RA * Hotel facilities of all the types were added into calculation along with facilities 10 of pure hotel types from 2013 Attachment 02: Tsakhkadzor city entertainment industry insight

Daily operation is limited by the early closing time - 17:00 In the absence or with insufficient volume of on the slopes it works only as Ropeway an attraction Requires sports skills for skiing and

Daily operation is limited by the early closing time - 17:00 Tubing or inflatable In the absence or with insufficient volume of snow on the slopes it doesn’t works at all Designed mainly for kids

Cycling and horseback riding Available in the warm seasons

Sights Represented by a relatively small amount

Restaurants, clubs, bowling, Have age limitations spa centers, etc.

of a high-speed mountain coaster, which will be available for the guests of Park Lop LLC implements the city all year round, in any weather, up to 24 hours a day, practically a project with no age limits: guests from the age of 3 should be accompanied by their parents, whilst children over 10 can use the facility unaccompanied 11 Attachment 03: Producers market and tracks prevalence insight

Mountain coasters in the closest 154 There are more than 434 different sledge tracks in the World neighborhood to Armenia: 54 47 27 30 18 Iran – 3 tracks 10 8 7 8 7 5 5 4 4 4 4 3 3 3 3 3 3 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 Turkey – 3 tracks Italy Haiti Isra el Latvia Korea,… Kuwait Turkey France Austria

Norway Georgia – 1 track from July, 2016 Canada Andorra Belgium Sweden Jamaica Hungary Slovenia Germany VietNam Georgoia Kazakhstan Iran, Islamic… Iran, Netherlands Saudi Arabia UnitedStates Russia – 3 tracks CzechRepublic UnitedKingdom Russian Federation

Producers and tracks in the World The manufacturers of all- weather tracks are marked in Slovakia - Tatralift - 3 tracks - 1% USA - Aquatic Development Group - 3 tracks - 1% blue Other - Vǒroka - 4 tracks - 1% Park Lop LLC implements Other - Unknown - 20 tracks - 5% the all-weather track project Other - Neveplast - 27 tracks - 6% AUSTRIA - Brandauer - 35 tracks - 8% FRANCE - Techfun - 57 tracks - 13% GERMANY - Wiegand - 287 tracks - 66%

Source: http://rodelcounter.com/, analysis by Park Lop LLC 12 Attachment 04: The most demanded tracks

Number of tracks by type All-weather tracks are marked in blue

Tracks with hanging sledges with engines - 1 - 0% Park Lop LLC implements the all-weather Tracks with hanging sledges - 2 - 0% track project Other - 10 - 2% Gutter tracks with engines in sledges - 18 - 4% Summer tracks for tubing - 29 - 7% Monorail tracks - 35 - 8% Rail tracks - 142 - 33% Summer gutter tracks - 197 - 45%

Number of tracks by the downhill length The tracks estimated by the Company as the most attractive to tourists are marked in blue 39 43 29 22 Such tracks are the most demanded among 9 10 tracks’ owners 4 5 2 4 2 3 1 1 0 0 0 0 The area chosen by the Company for the project allows to place effectively on it a track with a downhill length of 822 m and a 0 - 200 0 - uphill length of 203 m 200 - - 400 200 - 600 400 - 800 600 800 - - 1000 800 1000 - 1200 - 1000 1400 - 1200 1600 - 1400 1800 - 1600 2000 - 1800 2200 - 2000 2400 - 2200 2600 - 2400 2800 - 2600 3000 - 2800 3200 - 3000 3400 - 3200 3600 - 3400

Source: http://rodelcounter.com/, analysis by Park Lop LLC 13 Attachment 05: Location of the project on the map

Source: https://yandex.ru/maps/37792/hrazdan/?ll=44.703094%2C40.537394&z=15&l=sat%2Cskl 14 Attachment 06: Demand for rides at similar tracks

Load of comparable objects, rides per year Studied the load of various tracks manufactured by Wiegand and Brandauer 400 000 companies Most of the Brandauer tracks operate only in warm period – from 4 to 9 months a year, as 200 000 Average = 166 067 the are lifted by ski ropeways there, 150 000 which are not for Toboggans in winter ridesyear per 150 000 90 000 The estimation of the potential annual load is 30 000 based on the actual average monthly data and on the assumption that the average 12 12 12 monthly load would not decrease in winter 6 due to the fact that the winter flow of tourists 4 months months ofoperation year per exceeds summer one and so does the usage of ski ropeways The financial model of the project uses a moderate assumption on the load – at Austria, Vein Austria,

Slovenia, Bled Slovenia, 150,000 rides per year, while the average Austria, Hallein Austria, Austria, Abtenau Austria, Austria, Kaczberg Slovenia, Maribor Slovenia, Italy, San Candido San Italy, load in the world is 166,102 Korea, Yongpyeong Korea, Canada, Revelstoke Canada, Russia, Krasnoyarsk Russia, Russia, Gorokhovets France, Montgenevre Armenia, Tsakhkadzor Tsakhkadzor, Ropeway Switzerland, Schwarzie Switzerland, Slovenia, Kranjska Gora Kranjska Slovenia, The key factor for the load is the density Load "as is" – 12 working months per year or less of the tourist flow according to the opinion of equipment producers Potential load – if it were full 12 working months per year Official statistics, observations and surveys of local rentiers allow us to assume that the tourist flow in Tsakhkadzor has a high enouqh density for the project

Source: Interviews by Park Lop LLC, Renons LLC (Bobrovyi Log), 15 Attachment 07: Ticket prices at similar tracks

Prices are in AMD including VAT

Killington - USA 4 830 7 245 $ 10 - $ 15

Flumserberg - Switzerland 2 688 5 376 fr. 5.5 - fr. 11.0

Krasnoyarsk - Russia 2 984 4 311 ₽ 360 - ₽ 520

Bled - Slovenia 1 961 3 082 € 3.50 - € 5.50

Bakuriani - Georgia 1 934 1 934 GEL 10 - GEL 10

Gorokhovets - Russia 1 244 1 658 ₽ 150 - ₽ 200

Toboggan - Tsaghkadzor - Armenia 1 800 3 000

Ropeway - Tsaghkadzor - Armenia 2 000

Ziplajn - Tsakhkadzor - Armenia 10 000

Zipline - Yenokavan - Armenia 15 000

Ticket for a child

Price difference between tickets for an adult and for a child

Ticket for an adult

Alternative amusements

Sources: Internet sites of the companies that own the amusement objects 16 CONTENT DISCLAIMER

THIS MATERIAL SERVES ONLY FOR INFORMATIONAL PURPOSES, IS NOT AN OFFER OR ANY OTHER OBLIGATION OF THE ORGANIZERS, AND TOKEN BUYERS ARE REQUIRED TO READ ALL THE MATERIALS OF THE OFFICIAL WEBSITE OF THE PROJECT BEFORE MAKING AN INDEPENDENT DECISION ON THE ACQUISITION OR REFUSAL TO PURCHASE. IN CASE OF INCONSISTENCY BETWEEN THIS DOCUMENT AND THE TOKEN SALE POLICY THE TERMS OF THE TOKEN SALE POLICY SHALL CONTROL. 17