ISX News, Research and Info, page-100

Hi Steve,

Yes, I touched on that and have it covered under Probanx/Other but realistically it is hard to work out how much that revenue will bring in as historically it would appear ISX have not charged the headline $6 KYC fee to merchants.

Some of us have discussed elsewhere that they may have negotiated with merchants to provide their initial KYCs for free or at a discount rate as a marketing initiative to win business and then will charge on 12 month anniversary after that or some larger merchants may have negotiated lower KYC fees.

But I agree that this may change because as you mention, the fact that KYCs are starting to hit their 12 month anniversary was specifically highlighted in the quarterly.

So, yes there is upside to my projections if KYC fees increase like that as I've not really factored them in.