Ann: MicroCap Conference Presentation, page-5

I think Indonesia it would be considered a complete failure, but without taking a deep dive I feel like Malaysia is/was on a similar trajectory, in terms of average balance, to Australia. But culturally and legislatively I'm unfamiliar with Malayasia, so beyond a few top level numbers I can''t really provide much opinion as to how successful it could have been.

As of now, Asia is a failed project that I'll give zero value to. My focus will be on how they can sustainably grow the active client base from this point. Growing balances is always good but given the majority of revenue is from the base fees (accounts less than $15k - but that number changed with the recent increase) so growing that active customer base is the key to success.

I don't watch free-to-air TV so I have no idea how the SWM campaign is going (another miss-step in my opinion) as the target market is younger investors. I use and love the product myself. It serves a purpose for me and feel it can easily serve a purpose for all investors with "lower" size portfolios no matter the level of financial education. I just hope their marketing strategy is focused on targeting the right market.