Hi,
This was posted a few pages ago, here is the explanation:

About the ICO address, yes, it's not a contract address and this is something many ICOs use instead of a contract. The reasons are various, but for our particular case:

-unlike ICOs that have an infinite supply of issued tokens, we don't. We have a fixed supply volume of 100M tokens.

-some ICOs have a predetermined token price. We don't. 1 ETH = 2000 ATS minimum, but it can get higher than this based on the total amount raised. (please look on out page to see how it gets calculated)

-besides ETH, we also accept credit card and wire deposits. A contract could not handle that.

-a smart contract could have not handled our referral bounty campaign. The free ATS tokens have to be distributed manually.

-right about the time when we were deciding if we should go with a contract or an address and how things should be, there were a few instance of exploited contracts and we wanted to make sure we don't risk it. An address poses no such security risks.

PS: Our ATS tokens contract source code is verified on etherscain.io as well.

Regards,
Peter