Ann: Appendix 4C - monthly, page-10

Been able to spend a little time looking through this. 

Not too happy about the shift from them saying the release of the exchange will be in q4 to that they are making good progress.  I think things are getting done, but that it is likely to be next year if they launch.  

The numbers on the tokens are good, but the costs involved seem to be high.  I see their projected admin costs for next month are lower than what we had for this month, so hopefully they are working on making securing deposits more cost effective.

They have 25k it seems, although it looks to me like the only costs they are expecting to incur next month are the 11k of wages, so perhaps about two months worth of cash to make these payments.  The admin costs of 116k are likely to be the costs involved securing the token deposits, so hopefully these will be offset by token deposits.

Not sure if banks will be eager to provide finance for a crypto currency exchange.  Banks dislike crypto.  What they need is a venture capitalist, or a large private investor.  Or just lots of token deposits.  I think they need to sort out the finance before they can really make a run with the exchange. 

Could be be worse though.  We have an almost completed exchange, the ability now to issue tokens and a much leaner business.  Hopefully we can tough it out.