# Disclaimer

This white paper briefly summarizes the core concept of FOGNET Token(FOG). This white paper was written for the purpose of providing necessary information to those who want to participate in the project, and is not a document that recommends investment, etc.

## 1. General Notice

The project-related coins in this white paper do not correspond to financial investment products such as securities, and their issuance does not correspond to subscription for financial investment products or solicitation of subscription. FOG is not intended for speculation and have no rights in any form of real estate, intellectual property rights, other property, or cash.

FOG is not stocks because they do not give ownership to the distributor, and ownership of FOG does not give the right to participate in the decision-making process in assets and/or business plans. In addition to the benefits that can be obtained from the use of the platform, there is no commitment to the value or rights for the separate FOG profit.

The information contained in this white paper was prepared on the date indicated on the cover. Including information on the business operation and financial condition of the distributor in the future, information written in this white paper may be changed from time to time.

The provision of this white paper and sales at the project stage do not state that no changes have been made to the content of the white paper. Distributors do not make or claim in any form (both explicit and implicit) that the information contained in this white paper is up-to-date, accurate and complete, and expressly deny it.

This white paper may contain information from third parties and/or the content of publications. All information and data reproduced in this white paper are deemed to have been derived from reliable sources, but distributors do not separately verify such information or data and give no warranty as to the accuracy or completeness of such information or data.

Neither the full text nor partial excerpts of this white paper may be regarded as advice on legal, financial, tax, or other professional provisions. You should get separate professional advice in your decision to purchase FOG. Please note that you are solely responsible for all evaluations and decisions that may arise when deciding whether to purchase FOG. You may request additional information regarding FOG to your distributor.

Distributors have discretion, but not legal force, and provide the requested additional information in consideration of all relevant circumstances, including whether the request for information is reasonably necessary such as ① whether there are any prohibitions or restrictions from a legal point of view, ② whether the requested information is a matter of helping the reader to further clarify what is specified in this white paper, and to seek expert’s advice, whether it is something that could influence his/her/its decision as to whether the reader buys coins.

Please note that this white paper was prepared for the purpose of information delivery and has not described the future prospects. It is stated that distributors are responsible for all losses and damages (direct/indirect, predictable, or others) arising from acting or relying on any information related to the distributor or the contents of the FOG ecosystem contained in this white paper or additional information inquired by another reader even if there was the distributor's negligence, default, or insufficient guidance.

Reproduction of this white paper except for this warning and notice is strictly prohibited and is not permitted by distributors. The information set out below may not be complete. No part of this white paper forms a legal relationship between the recipient of this white paper and the distributor, and it is structured so that the recipient of this white paper cannot be legally binding on the distributor nor enforce any legal action.

In purchasing FOG, you are deemed to have thoroughly reviewed the white paper, and also deemed to have agreed to the terms and conditions of the provision of FOG. Please note that the information specified in this white paper does not guarantee any legal liability. You expressly acknowledge and agree that FOG are not securities and do not generate any form of return on investment.

FOG and related services have been designed to be used for the purposes specified in the white paper and are provided by the distributors as they are and under this use if possible. Distributors do not make any guarantees or representations (both explicit and implicit) of the accessibility, quality, suitability, accuracy, adequacy or completeness of FOG and related services, and expressly deny this.

Thus, the distributors also expressly deny any liability arising from errors, delays or omissions in any action taken by you by relying on FOG and related services. No warranty is made in any respect, including the guarantee that there will be no infringement of the rights of third parties with respect to the FOG and related services provided by the distributor, name, merchantability, satisfactory quality, or fitness for a particular purpose.

We cannot guarantee the future performance and value of FOG. This includes the intrinsic value of FOG, and also includes a guarantee that it will have any value in the future. Unless you fully understand and accept the distributor's overall business plan and the potential risks of FOG, you should not participate in the sale of FOG.

FOG was developed for the future function of the FOG ecosystem. The distributor expressly denies full responsibility for any losses you may suffer in connection with the purchase of FOG.

You are not obligated to make any contract or binding legal commitments in connection with the sale or purchase of FOG. A separate document describing the terms of the contract (hereinafter "terms of the contract") is applied to the contract between you as the distributor and the purchaser and to the sale and purchase of FOG In the event of inconsistency between the terms of the contract and the contents of this white paper, the former takes precedence.

## 2. Risk factors

#### • Purchase of tokens

FOG should be purchased only by a financial expert who fully recognizes and evaluates the advantages and risks of the purchase, or a person who can get advice from a token trading-related professional advisor, or a person who can withstand the losses that may be incurred by purchasing, including the possibility of losing the total amount spent on the purchase of FOG.

#### • No prior market

No guarantee is made as to whether the FOG-enabled market or liquid funds trading market will be developed, and it must be sustainable as FOG are traded on the cryptocurrency exchange after the development is completed.

#### • Platforms that have not been completely developed

The value and demand for FOG is highly dependent on the performance and commercial success of the FOGNET platform/service. Distributors give no warranty as to whether the FOGNET platform/services will be commercially successful. In addition, the FOGNET platform/service has not been fully developed, finalized, and integrated, and additional changes, modifications, updates, and adjustments may exist before release (and after release). These changes can cause unpredictable consequences to users, which in turn may affect success.

#### • Risks related to uncertain losses

FOG is not protected unless personal insurance is separately acquired as a means of protection for FOG. Therefore, there will be no separate public or private insurance as action taken by the distributor for the buyer in case of loss of the token itself or the utility value of the token.

#### • Tax-related risks

The tax characteristics of FOG are unclear. Therefore, the tax system that will target the token is also uncertain. Anyone who wants to buy FOG should find a personal accountant who can deal with related issues before deciding whether to purchase FOG. Distributors do not make any statements as to whether taxes may be incurred by purchasing or holding FOG.

#### • Risks from Ethereum Protocol

Due to the nature of FOG and FOGNET platform/service based on Ethereum Protocol, malfunction, breakdown, suspension, or disposal of Ethereum Protocol may have a significant negative impact on FOG and FOGNET platform/services. Advances in crypto technology or advancement of related technologies, such as the development of quantum computing, may be a potential risk for FOG and FOGNET platforms/services. This includes the use of tokens to acquire services, rendering inefficiency of the password matching mechanism that supports the Ethereum Protocol, and other risk factors.

#### • Risk from third parties

FOG is an asset based on the blockchain technology. The security, mobility, storage, and connectivity of these blockchain assets are based on factors such as the security, stability and suitability of the basic blockchain protocol and process (In this case, Ethereum is out of the distributor's control.)

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Unexpected events may occur, such as mining attacks, hacking, and unauthorized access to the private key of the wallet where FOG are stored. Distributors cannot guarantee that they will prevent these external factors from adversely affecting FOG directly or indirectly.

Furthermore, the risks posed by third parties also include illegal acts, fraud, and failure to receive FOG at the time of token payment because the third party's wallet is not compatible with FOG. Any resulting losses are irreversible. Distributors are not responsible for any risks arising from the intervention of third parties and cannot take action to recover lost FOG in this way.

## 3. Anti-Money Laundering / Combating the Financing of Terrorism

As part of the token distributor's responsibility in relation to the policy for Anti-Money Laundering / Combating the Financing of Terrorism (“AML-CFT”), detailed identification of anyone wishing to own or use FOG as a means of payment is required. Depending on the circumstances of each application, token distributors may request additional information and/or documents to the applicant from time to time.

Pursuant to all applicable laws, distributors are committed to complying with all relevant guidelines applicable to their business with respect to AML-CFT obligations. Distributors reserve all rights to exclude anyone who refuses to provide appropriate information and/or documents that may be requested by the distributor from the purchase process in the process of initial coin purchase and/or further purchase of FOG.

In addition, distributors reserve the right to prohibit the handling or provision of financial services to designated individuals and legal entities for any suspicious transaction. In this case, distributors have all rights to refuse any service/ FOG transactions.
