Ann: Quarterly Business Activity Update and Appendix 4C, page-101

Regarding PPI...

IOU have been buying and selling PPI for a long while now / and the revenue generated by it has been flat / slightly downtrending - it doesn’t seem like it was doing that due to a simple lack of additional funds - as now that the company is flush they have chosen to NOT spend more on inventory

So PPI sits there ticking over to one side

all money and effort is going into launching BNPL - to fund multiple activities in that space - to have a war chest to reassure merchants, banks and other partners...

I thought it was interesting how the report went into so much detail about NTT. - the giant Japanese telco that has a 52% stake in one of the merchant platforms / is there some relationship possible there? A pathway to Japan??

APT took a year to get from $6 to $20 in one run - and about 4 months to go from $8 to $140 (albeit as a COVID recovery story) but either way third could move incredibly fast once merchants en masse start offering it to customers

that’s the absolute key to this - if IOU catches on with the market it can grow like wild fire - bring on the next update / I think we should get some more progress details by the end of May