Thanks for your question. According to our white paper: from January 14th to 20th 2018 (or earlier in the event that the ICO closes earlier) - in collaboration with the escrow partner, distribution of tokens (based upon fully completed documentation, confirmed payments applying the smart contract terms and conditions) and the destruction of surplus tokens.

Actually, we will start to distribute tokens immediately after we reach hard cap or end up the ICO. We need approximately 7 days to distribute tokens. Those tokens that will be bought with ETH will be distributed immediately within the terms of smart contract. Others will be distributed by ICOBOX, as they are providing us with book building platform. ICOBOX (paragoncoin, gygawatt, ICOS etc.) in this way acts as an escrow service but for tokens. And they regularly take 3-7 days to end up token distribution (those that weren't distributed with smart contract).