Yeah, if the revenue reported in the AFR is correct then it...

Yeah, if the revenue reported in the AFR is correct then it shouldn't include any Axie revenue. Having a controlling interest is the decisive factor when it comes to accounting for revenue.

Materiality is even more opaque. For example, our Axie investment could be material for Animoca but this doesn't necessarily mean that we have a material interest in Axie.

Animoca have provided all this info to the institutions. TSB projections were part of the investor deck (along with plenty of other financial/performance data) that the fundies had access to prior to investing.