| Notes |
n the previous 6 months, Trustlab established the ixo Foundation, to internationalize the core open-source software and build up a global network that will continue to build, deploy and use the protocol. We have established agreements with leading organizations to serve as Founding Partners of the Foundation. These organizations include The Innovation Edge, The Gold Standard Foundation, Singularity University Ventures, Blockchain for Social Impact Coalition, Ocean Protocol and others. To fund and operationalize these developments, we raised an additional $200,000 to recruit an international team and initiate a crowd fundraising campaign through a crypto-token sale mechanism, through which we expect to raise at least $25 million by the end of Q1 2018. This work has received high-profile media coverage and we have started building up a strong community of supporters, developers and other stakeholders. Trustlab continues to undertake software development for the Foundation and provides operational support, through a service contract. |