Ann: Update on Company Strategy, page-24

Let me translate: The company has failed to deliver the app. It simply does not exist. They have come knocking doors but no multifamily real estate management company will use it. Now, after 2 years and 5m investors money was burned (or was it closer to 10m?), the company has decided to shut down.

What happens next, you ask? No, I doubt there will be any capital raising like some suggested. No broker will come near it. It will remove all overheads and stay in shell mode until the brilliant CEO find something else to turn it into. Maybe cobalt.

I have always been skeptical after reading the background of the CEO on Linkedin.