DW8 Growth, page-2737

When early investors provided funds for Windepot via CR in May & October 2019 they were seed investors investing in a pre-IPO business. It was a semi developed platform with a vision, no customers, no revenue & DT.

Funds raised in October 2020 were similar to Series A & B funding pre-IPO. The business is still currently pre-IPO with a Series C funding round to follow normally prior to IPO.

ASX investors are not normally given the opportunity to invest in pre-IPO businesses. It is usually crowdfunding, angel investors, micro venture capital & venture capital that invest pre-IPO. We are all more or less angel investors, micro venture capitalists & venture capitalists investing early in DW8.