First Growth Funds - Investment Portfolio Overview, page-6

Deep Dive – The Business Relationship Timeline between First Growth Funds, Heuresy LLC & CryptoData Vault (CDV)

Once again, for the benefit of shareholders, I have invested some time researching CDV. Please hit the thumbs up if you find it informative and useful. References have been hyperlinked throughout.

• Xped Limited (ASX:XPE), formerly Raya Group (ASX:RYG), is an Internet of Things company based in Adelaide, Australia. Its patented ADRC Technology enables any smart device to be controlled with the simple tap of a smartphone.
• First Growth Funds signed a term sheet and paid an upfront $US 250,000 fee with US company Heuresy to build a cryptocurrency exchange - announced - 27 November 2017.
• Keith Benson is listed as the Founder and CEO of both Heuresy LLC (since Oct 2017) and CryptoData Vault (CDV).
• On 28 May 2018, XPE announced the execution of a binding technology agreement with Heuresy Labs LLC. Under the agreement, Xped will develop a new cryptographic Physical Security Token (“PST”) which is a hardware security device that provides authentication and encryption. Heuresy LLC was named the sole USA distributor for Xped Limited products.
• First Growth Funds announced on 30 April 2018, it had reached an agreement with Heuresy LLC for a US$2.25 million investment in ‘CryptoData Vault’. It follows a binding term sheet agreement signed with Heuresy in November 2017 for the development of a digital currency exchange, hardware security solution and related software applications. CryptoData Vault is a company developing (patent pending) geo-locking cryptocurrency hardware wallets, that will be known as ‘Excalibur Wallets’ and a connected cryptocurrency token, to be known a ‘SovereignCash’.
• On 28 May 2018, XPE announced the execution of a binding technology agreement with Heuresy Labs LLC. Under the agreement, Xped will develop a new cryptographic Physical Security Token (“PST”) which is a hardware security device that provides authentication and encryption. Heuresy LLC was named the sole USA distributor for Xped Limited products. Under the agreement, “(1) Xped is to acquire distribution rights for the PST security device to be manufactured for inclusion in Xped IoT solutions, (2) Payment of US $250,000 within 5 days of executing the agreement, and (3) payment of US $250,000 upon completion of the statement of work under the agreement”.
• "CDV is leveraging over $20 million in investment by its technology partners, including Xped Limited, to achieve an IoT gateway enabling token usage for multiple governmental and business use cases. CDV’s development team includes participation of four leading edge companies providing technologies via license agreements: Heuresy Labs LLC, Stealth Entry LLC, Xped Limited, and Proxidyne Inc. They are contributing expertise, technology, and intellectual property developed with tens of millions of dollars invested to date". - CDV Whitepaper.
• In October 2018, CryptoData Vault released a pitch deck featuring some interesting information regarding the Excalibur Hard Wallet, SOV Token, and SovreignCash Order Book which can be found here.
• CryptoData Vault Glossary Terms:
(1) Block-Lock technology - Patent-pending technology providing tracking and enforcement of geographic rules and restrictions; enables asset location verification or locking a virtual asset to a physical place or geographic area.
(2) Excalibur Hard Wallet - Using next-generation encryption methods and Block-Lock technology (patent pending), one of the safest hard wallets on the market. It provides secure GPS functionality and onboard digital token storage.
(3) SOV (symbol: SOVC) - A utility token offered by CDV that can be divided into nano-SOVs for a variety of use cases including geo-locatable transactions, supply chain systems, municipal services, energy consumption exchange, and digital rights monitoring. The SOVC token is an ERC223 token on the Ethereum chain, a classified as a utility token.
(4) SovereignCash Order Book - A digital asset transaction order book that will be operated by CDV based on an open source architecture, supporting SOVC tokens and many other major existing crypto assets.
(5) Secure Digital Asset Platform: The integrated features of the Excalibur Hard Wallet, SOV utility token, and SovereignCash Order Book.

The bottom line….

FGF and Blockchain Global have invested $2.25M in CryptoData Vault for the (1) development of a digital currency exchange (possibly the “Secure Digital Asset Platform”?), (2) hardware security solution (possibly the “Excalibur Hard Wallet"?) and (3) related software applications (possibly the “SovereignCash Order Book.”?)
CryptoData Vault have invested US $500,000 in XPE to have (1) a new cryptographic physical token (“PST”) developed, and (2) to build an IoT security device. From the Xped Company update released on 30 April 2019 – “Development of the Heuresy Physical Token (PST) development boards is coming to an end with 5 completed units scheduled to be shipped to Heuresy in the US in May. Work on transitioning from the development board to the final dongle has begun”.

This is a tremendous opportunity which the market seems to have overlooked in terms of potential ROI for FGF. In 2018, the market valuation of hard wallets for digital asset storage was $225M with 25 million active Blockchain wallet users. The estimated global value of the hard wallet market by 2023 is projected to be $1.6B (Modor Intelligence, 2018).

Keep in mind... FGF has (1) Secured 15.56% of all SOVC Tokens (6.69 Billion) (2) 50% interest in CryptoData Vault LLC that owns 30% of all tokens (3) 6% success fee for all tokens sold by CDV.

Sources:
https://micky.com.au/first-growth-funds-crypto-security-investment/
https://*********.com.au/first-growth-funds-commercial-return-cryptocurrency-hardware/
http://cdv.io/wp-content/uploads/2018/10/CDV-Lite-Paper-V.2.5.pdf
http://cdv.io/http://cdv.io/wp-content/uploads/2018/10/CDV-glossary.pdf

DYOR