Ann: Appendix 4C - quarterly, page-5

Blockchain penetration is a given IMO. Gartner, whom I respect, thinks it's a given. Just a matter of when. Then again I'm a half glass full type of personality so prone to bullishness rather than bearishness. I have also backed what I consider the best credentialed team in the space and it's not this one. If ID8 convert one or two leads as you say then it can re-rate. It will all come down to execution whichever blockchain company you are backing and yes it's a risky space as it's so early. This is the high risk stage of blockchain investment but the companies that get it right will be high reward.