 Welcome to the last set news or Dan for short. My name is Robert today. We do some a bit different. It is this weekend It is Saturday. Thanks everybody for just stopping by and what I want to do was just I get a lot of questions especially with what's been going on with With FTX and the contagion and of course before that three hours capital and Luna and Celsius and Voyager and the question I get about is is what's next and the things that that I am into are those at risk for collapsing more specifically I trust capital and I had gotten so many questions about it and just keep answering the same questions over and over again I just decided to reach out to a person that could help me and that would be the CEO of I trust capital Kevin Maloney And I said look man I got heavy on the show because I keep getting the same questions over and over again I need up face to the name I need you to come out here and just talk about what's happening So sure and on top of that of course of all the different collapses that were going on I Got a lot of questions about taxes because they say well if I lost all those things I mean that sucks. We know that's awful But the question then becomes if I can't get access to my crypto Can I write those things off as far as losses on my taxes coming up from this year? And I said well I don't really know but I know who does and that would be David from coin ledger Which is the software that I use two years straight, so I invited both each other on and I did a Pre-recorded Interview where I asked them these questions and many more So I wanted to bring everybody up to speed about what's going on because I think we all know what's happening in the background f-tex is collapsing. I Figure that there's going to be a lot of other different Exchanges and projects also collapsing around it because of the contagion and that's just the truth I expect 2023 to be not a great year I expect that to be a recession. These are all the things that we know So let's just dig into who can we trust and before we get going in The in the ideals of transparency you have to understand. I'm super biased I'm super biased because the product that I talked about the ones I invest into and The products that I actually talk about here also on this channel are things that I have actually using so with for a coin ledger Aves into it two years straight and it's been not flawless I mean everything's got little errors here and there but it's a heck of a lot easier and going through all the The different spreadsheets and like that the time that I started it to the time that I actually put over my CPA took about 30 minutes So I trust coin ledger and then with I trust again super biased because I've been using them for two years and They've had no issues thus far and that is the that is the big thing so again with the issue of transparency I will just say that these of course are both products that I'm using also on top of that Just so nobody has any and the reservations This is my account and you can see I don't have that much Why don't I have that much and I trust Kappa Rob because he talked about all the time It's because guess what I can't put my life savings I can't go sell my house and my cars and my kidneys and my kids and and roll it all night Trust capital for a tax deferred Roth IRA doesn't work like that the max that I personally can put in because they use a Backdoor Roth IRA is $7,000 per year. So I've been doing that Unfortunately the market's been sucking and of course my value has been going down which is which is not surprising. So I've got a theory of a Bitcoin. This is the allocation. I have gold and silver I I know some people say why'd you in that because I believe that parish males has a place stellar I'm not really sure about that. Well, I don't know. I even have that there Whatever and of course assets. I have staked assets assets, which is polka dot. So that's the big thing and again I must stress this enough if this is not for you This is not for you. Don't come to me and say, you know what Robbie shouldn't talk about this because it's not for everybody Well, yes, I know It's it's not for everybody. I diversify here is my Portfolio to be super transparent. I got a lot in cash and I got a lot in real estate I believe in both of those things. I also believe in cryptocurrency. That's why I have a good amount into that But on top of that, I also have 10% and staking 5% my Amazon business. I got 5% in equities 5% and IRA actually that should be Quite adjusted because obviously not anymore. I got 1% in stables 5% in some DGN plays 5% Roughly here and there and the master works in 5% in the land. So again Transparency, this is what it is and the big question that I have of course is you know Can we trust I trust because all things that are going on? So this was the this was the question that I asked Kevin listen and then Kevin just to just to reiterate because maybe I didn't say it correctly So the revenue generation from I trust where does it come from because there is no more monthly fees and There is no minimum Balance of starts as I believe so where does the revenue generation come from? So yeah, so I asked Kevin these questions in him anymore and this interview is about 24 25 minutes long So just you know, it's a little bit on the longer side. I needed to ask Kevin I needed to ask David all these questions about what's going on So this is again pre-recorded I'm gonna stick around just to watch it with you and I will be here for the Q&A section And you can ask me any question that you want and I'll answer them. It's the best of my ability. So further ado here is the interview This promise what I want to do is especially with the changing landscape of the crypto market I want to bring Two individuals or two companies together and just talk about what's going on in the market How their services are offered and what is going on kind of like behind the scenes So first of all, we got David Kemmerer who is the one the founders of coin ledger David Thanks for joining us Thanks for having me. Yes, and also Kevin Maloney now CEO of I trust capital Kevin. Thanks for coming by Hi, Rob. Thanks for having us. Yes. I appreciate the both of you guys because you guys are quite boring You are stable and I like boring and stable right now, especially with what's going on So we're gonna ask you just five questions. The first thing for us is who is I trust and coin ledger What do you guys do where you're from next one is who are the people that could benefit from my trust and coin ledger And has that demographic change over time because a lot of things In the crypto market moves at the speed of light What makes I trust special what makes coin ledger special How is there me too companies out there and how have you built a motor around yourself as people are looking for other options Also, how are recent events in the crypto market changing your business practices? And then why should crypto investors prioritize their taxes and reporting their taxes and then a little bonus question What's the goal of the 2023 for both you and what kind of new things you're offering? So first things first Who are you guys? What do you guys do Dave? I'm gonna start with you and Kevin will hit you up second David What is coin ledger? What do you do? How does this all work? Yeah, I appreciate you having us on Rob So my name is David camera. I was part of the team that started coin ledger back in 2018. So it's been uh Four and a half coming up on five years But coin ledger is a platform built to make the crypto tax reporting process as easy as possible And so, you know, we support hundreds of thousands of investors all around the world to help them calculate Um, the the tax is owed and how much income they've earned throughout their cryptocurrency Kind of journey and so that's kind of a little bit about coin ledger what we do Um, and you know, I have the pleasure of leading the company and working with the amazing team we have every day Awesome. All right. So very simple. And of course, uh as a reminder for everybody, I use both of these products I've used both these products for years And I like these products and I only bring things to you that I actually like and use So kevin same question for yourself. My man. I trust capital. What do you guys do? I rub happen? Hello I rub great and thanks for having I trust capital again. Um, so founded in 2018 the platform was launched in uh, July 19 We had a very humble beginnings raised about 1.3 million dollars from friends and family to start the company and the vision really was to Um, allow people to self direct self trade digital assets crypto currencies within an IRA in that sort of tax tax family framework and You know fast forward we grew from 4,000 accounts the first year to 24,000 accounts to 45,000 accounts this year of working professionals. So, um, you know It is sort of akin to we're sort of the on ramp onto the freeway We allow you to get into the cryptocurrency blockchain arena If if if you're crypto curious and you want to participate and you get to choose the car The lane and the speed you want to go right? We don't pay commissions. We don't uh make recommendations This is all self trade self direct 24 7 And uh, so it's it's resonated and it attracted a lot of working professionals throughout america that have participated and uh and sat home and said, hmm, what what could crypto do for me? Yeah, makes sense. That's why I got into it. Let's be my next my next question Who are the people that could benefit from my trust and coin ledger and has that demographic change over time? Especially what's what's going on kevin? I'm going to start with you again uh How is this who could actually benefit with iTrust capital? So originally when we when we opened up the company and uh, we launched the platform We had anticipated that we would get the early fanatical adopters that comprising mostly millennials that would open up You know three five ten thousand dollar accounts and uh, we got that wrong We it ended up being working professionals in the 40 to 65 year old age range With very large balances 50 to a hundred thousand dollars And these people were doing rollovers and setting up roth and set uh and traditional iras How that has changed over time? November last year we made an announcement to drop the monthly fee We had a 29 95 a month monthly fee and we dropped that and we lowered the account minimum And because our version 2.0 the software that we launched allowed us to scale more efficiently Take on new accounts and and service them More quickly and more efficiently with really good people um The account balance came the uh monthly fee went away the account balance Minimum went down and we started attracting the younger demographics A lot of the younger demographics as you know want everything for free So we can't we can't do everything for free, but but we did lower the barriers to entry and that attracted Additional folks that are planning for their retirement future So gotcha Yeah, perfect. And then kevin just to just to reiterate because maybe I didn't say it correctly So the revenue generation from iTrust. Where does it come from because there is no more monthly fees And there is no minimum Balance that starts as I as I believe so where does the revenue generation come from? Yeah, I mean we're a software platform. We're not a registered investment by advisor We're not a broker dealer. We don't charge an AUM assets under management fee We don't mark up the the spread and liquidity and charge A mark up there. Um, we don't do the monthly fee. It is simply a transaction fee So we get one percent of any time you buy or sell So if you buy a hundred dollars worth of bitcoin or sell a hundred dollars worth of the worth of ethereum We get one dollar anytime you buy or sell And I think that that has been a big differentiator along with our access to real people educational resources and and just the overall client experience To date we've had nearly 2400 You know trust pilot reviews at about a four and a half star Rating and we take that very Very serious one of the key differentiators in the sort of the fintech arena, whether it's you know crypto or not is You know fintechs in general are pretty good at scale and efficiency But we've been terrible at onboarding and And delivering consistent continuous client service. And so part of our goal Is to revolutionize the way we not only onboard but continue to serve Section of our in one quadrant of our office here in southern california And I get to hear the buzz on the phone I get to hear the calls coming in my cell phones out there I get calls myself as well, but being in the middle of it and actually having a real voice Speaking to people and good and challenge your markets is it's been a real critical piece of the value add Great. So just just to reiterate I would I really would stress hopefully other exchanges can look at this and go This is how this is a very simple process There's nothing glamorous if they just would have kept it this I think would have been a lot better So I'll leave my mind to my next question david Who are the people that could benefit From coin ledger myself included besides me like who are you looking at that could benefit from tax services software? I have to ask the question because we have to ask that Yeah, it's really anyone who has any sort of complexity with their cryptocurrency transactions So if you have you know dozens of trades or you're earning staking rewards Or you have accounts on Different exchanges or a handful of wallets that you're transacting with it quickly becomes difficult To keep track of all of the movements of all these assets You actually do need to keep track of that to accurately figure out how much money you've made or lost during the year So if you have that pain points, right and you need to report this legally on your taxes Coin lenders are really good platform. Just plug in your wallets and exchanges You know, we can read in the transaction history. We don't have ability to touch any of your assets We just read it in and report on it for you and tell you exactly how much money Income you've made across all of your investment activity Spit out a simple tax form that you can upload into platforms like turbo tax or just send off to your accountant So there's really anyone who doesn't want to deal with the headache of manually You know figuring out how much money they've made and account for all that Just plug that into coin ledger and we can kind of take care of you Um, but our demographics really anyone from 20 to 70 With the bulk of those people being in their 30s But it's it's really anyone who just faces that challenge of This is kind of complex and I don't want to figure this out on my own Yeah, I'm not see that's just that's that's me out I'm not the guy to pour over spreadsheets all day long and try to figure everything out If you want to make it I will pay for time. I only have so much time on this planet So I will gladly Go with coin ledger and go from there exactly and the other thing is if you were to go with like An accountant to do this for you they would charge you an arm and a leg more than coin ledger will charge you To do this automatically for you So you know any from 50 to 300 bucks just to grab your reports from us If you need an accountant to sort through all of that for you, you know, that'll be marked up significantly So we're trying to save you money as well Um by bringing automation into the space now. I'll go with that So I guess this would be the leaders of the next question. Uh, what makes I trust and coin ledger special what separates your respective businesses From the me two products out there and david since we just left off I'll start off with you just one more time and then we'll go back to bounce back to kevin Yeah, similar with I trust and it's great to be partnering with people who share similar thoughts In the busy times of our of our business because we understand that this stuff is complex and people have questions So that's completely free to ask our support team questions You know, there's thousands and thousands of questions that we field every single year But then outside of that, you know, we support direct integrations with over 500 exchanges walts and blockchains Which is very different from a lot of the players out in the space Constantly adding more and then the other big big thing that we pride ourselves on is kind of the user experience that we've crafted over the past four and a half years You know, we're trying to abstract all the complexities of tax reporting and rules away from the user So it's just simply a few button clicks for the user to get where they need to go So the high level things we could drill real deep on deeply how we differentiate But those are kind of the core pillars that you know, we hold very deep in our hearts Now it makes a lot of sense and then like well one thing I'll distress everybody is that if you want to start for free With coin ledger just go to the website links in the description You can check it out for free when you want to generate a report you can go from there But just check out to see how easy it is and then go and then make your move after that. So that would That would be it for that. So kevin same question to you, sir What makes it trust special? What is the difference? Yeah, very similar Montreuse david mentioned it's one of the reasons we're always excited to partner with really good people whose moral compass Is generally pouring north and and has ethics and client assets at You know putting them in a paramount position I I use coin ledger for my cash accounts. I don't have a lot of gains this year, unfortunately But it's it's certainly a great tool that you can plug and play From an eye trust perspective, you know perspective on on sort of uh, what makes us unique They're different is uh, really our focus on you know client first You know safety security peace of mind Providing access to real people. I mean real client service experts in the u.s During normal business hours and that are super accessible and that gives a lot of comfort when you give access to people and information or educational content or tools like coin ledger offers it gives people that peace of mind and We owe it to The global population the domestic, you know, domestically here and abroad The participants in the blockchain economy to be more transparent to offer these Platform and a highly regulated trust industry to deliver the most value for the for the clients and that that's that's never going to waver We talked about it earlier, but we don't do, you know risky Um We don't you know do lending We're we're we're just like he said we're on probably the less sexy side of the equation We're one of those boring companies that just uh, we're software platform You can trade, you know buy or sell these 30 digital assets and precious metals gold and silver at will And it's important in paramount to actually to educate the consumer about what's going on I think that's important right now, especially with the recent events. We saw Celsius collapse. We saw voyager collapse. We saw block fight collapse. We just saw ftx collapse And who knows how what kind of contagion that is out there So with all the things that are going on behind the scenes and in front and in real time houses affecting Uh your business The practices right now. Is there been any any deviation or what's happening? Yeah, so, you know big picture is, you know, it's super unfortunate You know that so many people and businesses are affected, you know By the recent news and collapse of businesses around the globe But we should really take this time to self reflect and work with each other to You're really put our energy and and focus on transparency proper disclosure compliance and that ultimately Will help rebuild credibility and trust in the marketplace. Well, how do we get there? Well over time and there's every, you know, three years the crypto's been around 14 years every two to three years We see these cycles where either bad actors or bad business models Are weeded out and sometimes you have good people with the bad business models Sometimes you have bad actors, you know that start off trying to do the right thing But ultimately the markets are pretty efficient and people communicate quickly as you can see on twitter Can take down a company in just hours or days and so it's hard to hide Very long if you're not doing things by the book And if you are not disclosing things in the terms terms and conditions, what's unfortunately most people don't peruse through You know, that's really a bad thing and if you are disclosing there was a lot of disclosure on some of these companies You mentioned that are no longer with us And people if they read it would be a little bit shocked to understand where assets were were being lent out and so We need to do a better job of just communication transparency and giving people access to those tools and and so how are we You know, what do we do and that's you know different? Well, we're we're out there educating people We we have you know, we're working on really just putting out a lot of content and videos just on education not not unsubstantiated promissory hyperbole just educational Videos on hey, did you know if you're thinking about abnc? Here's some options and and we try to make ourselves readily available by phone and email To pick up a call and answer questions and I and I can't You know stress enough how important it is to have and work with people that have customer service That will take your call or email. There's a lot of one star rated companies out there Exchanges etc that if you lose $50 a hundred thousand dollars, you know, good luck getting a call back or an email back And and you should know based on one star ratings. It's just not what they do well So we're trying to differentiate. We're not out there serving the globe We're serving, you know, the american public working professionals that are crypto curious don't necessarily know Or understand how it all works, but are curious enough to participate. They're not betting the farm They're not putting all their eggs in one basket, right? But they're curious enough to put five to 10 15 percent allocation into these areas where they feel have potential And we're here to you know, you'll facilitate that Yeah, and I will tell you like like this. I mean There's an ethos Not your keys, not your crypto and of course people will say well, rob Well, how can you go with with iTrust capital because that's not really what's going on here I understand that whole the whole process. However, I will say this like I can't Like you just talked about kevin. I can't bet the farm. I can't sell my My house my wife my kidneys to put everything into crypto in a Roth IRA It's going to be a very limited amount a very small exposure And then I can work myself off from that which is to me between six and seven thousand dollars per year. So Uh for that aspect, I will take a small portion and diversify and go that route now One other big thing that led me to iTrust was I had a lot of questions because I had never done a Roth IRA before And what was great about with you guys is when I set up my appointment you guys took 30 minutes with me I'm not that smart. So it helped me when I had you know, a couple guys sat down and go rob This is this is what would work for you This isn't going to work for everybody It didn't work for you and I had to talk to a live person for about 30 minutes So if you have questions about that you who are watching this video Uh, just book a call with iTrust and go from there. So then david This would actually lead me to the same question the recent changes in the crypto How have you guys changed your practices if at all and what's going on behind the scenes? Yeah, the nice thing about coin ledger is you know, we don't we aren't a business that Custody's assets or accepts assets or even has any ability to do anything with any customers assets, right? We're just a software that's helping people report on their capital gains losses and income So our business stays essentially the same You know, we have no exposure anything none of our customers Have any assets with us so it's kind of the you know, you don't have to trust us We can't do anything nefarious with your money. We don't have your money And so our business remains Very much the same now It's still just unfortunate what has happened in the industry and that has ripple effects Right with you know trust that you know people break But you know, we're working to constantly build people's trust and we've been doing that for four and a half years Um But but yeah, that's that's really what we're doing the one question that we will get of courses Hey, if I have losses on these platforms ftx block 5, right, I write those off on my taxes It's it's largely a gray area. I would recommend actually, you know, connecting with your tax professional We have a whole list of them on our website that you can connect with Because if you haven't actually disposed of assets, you know, that's a gray area You technically haven't realized these capital losses or you know, deem them as worthless assets So it's just something to speak to a professional about I know a lot of people will have that questions We're happy to work with folks and get those questions answered Or point them in the direction to folks who can better answer those more complex scenarios when talking about capital losses Perfect two things first of all say that so you guys have a list of cpas Who specialize in crypto and digital assets that people can contact Yeah, if you go down to the footer of our website and just click on our crypto accountants directory We have a handful of folks click on the usa tab who are you know crypto focused accountants And so they'd be good folks to give a call On that front. Oh, I got you actually i'm right here So to scroll on here and it looks like a accountant directory very nice Because I keep getting the questions now. I could just refer them to this website perfect And then since well david since you're here Uh, the question then would be for you obviously why should crypto investors prioritize their taxes and reporting? And this will actually kevin this could be a question for you as well But I'll start with david Why should why should we prioritize the taxes? I mean, I have my reason because I don't like to go to jail and uh, that type of thing But why should why should we? Yeah, that's the simple one is like the reality is it's required by law Right and I'm not in the business of trying to commit tax fraud, right? And that's a spectrum of risk that everyone has to decide for themselves But but that's the simple reason right is legally you have to report Income gains losses on your taxes and so coin ledgers platform to do that. Yeah other maybe more User helpful things is one it can save you a lot of money in a market like this, right? If if you've realized capital losses over the last six eight nine ten months in the markets You'd be a savvy investor to go and book some of those capital losses and thus reduce your total taxable income for 2022 And so what what's very smart and what investors do typically in december is, you know, tax loss harvesting They're taking a look at their portfolio. What crypto assets do I have that are currently underwater, right? That are trading at a lower market value than when I purchased them And if you harvest those losses That's going to offset against other capital gains in your portfolio. And that's all right, right drastically reduce your taxable income So that's another reason, you know coin ledger has a full tax loss harvesting module that you can use to quickly see completely for free You know, where in your portfolio do I have? These losses that I can take advantage of Um, you know, we do get the question all the time of how can I pay less taxes? So that's a good one. Another one is to use, you know, IRA type tax deferral techniques like I trust capital So we love to partner with folks like that who can, you know, kind of counter punch with how can we save money? Um, so a couple reasons there. Hopefully that's helpful for people that is helpful. Okay, perfect so then Kevin if you want to add anything here because I mean, I got to tell you like even in um College I would I would hear about the the re I should really look into an IRA and I should look into an IRA and as a young kid You're like, why do I need to do that? I'm hopefully I live to 59 and a half. I don't know if I'm going to make that But why should let's just say anybody prioritize Say an IRA and for uh tax tax purposes right now Yeah, I think a lot of us think the same in college, you know, just trying to get through uh that day that week that month and and uh the next event But yeah for young people out there that are, you know, serious about their future And maximizing the tax advantages provided within the confines of an IRA. It's it's an excellent tool And you know, I think that people should be, you know, considering You know and exploring how they can max out their IRA opportunities and then also With our customers that have cash accounts use tools like coin ledger to help manage those gains and losses So it is a legal compliant way to avoid paying taxes. There are You know limitations like you said six to seven thousand dollars a year But if you start now regardless of age over time, it's incredible the compound the compound effect that happens and right now Even though there's a lot of instability in the market You know Over the next year or so as we potentially reach some sort of bottom. Hopefully we'll see It it might be a time where others are considering, you know, diving in at a much lower basis So as people tax loss harvest at the end of this year as people consider what an IRA can do for me in my future It is an incredible tool that not enough of us use to you know, create some stability down the road Perfect and I will say this I never thought of it this way But uh, I know a lot of people a lot of subscribers they complain to me about capital gains taxes Short term and long term and I will remind everybody that within your Roth IRA If you're doing any kind of trading like we talk about on the channel We have the rules and one of those rules is to take profits So as we see things, especially the crypto market go up This is not financial advice. I can't tell you what to do. I'm not a financial advisor However, if at some point you think think yourself, maybe I should take some profits here On the exchange or on my ledger You can also take a look at your IRA account and start to trade within your IRA account And then lock in those profits as the crypto market starts to go down Buy at a lower cost basis and then bring it up and what's great about that is There is no capital against tax because that is within your IRA account Just something to think about and then gents the last one I'll have and this is the bonus questions And everybody wants to know this what's coming down the pie for 2023. What's new? What are you guys working on and uh, kevin? I'll start with you I know that's uh, you guys did a pretty great thing. You've actually done Came came the fruition with the staking which I am doing right now 9 and a half percent apy But what else is coming on the pipe that you can reveal here on the show exclusively Yeah, thanks, um, you know it is uh our goal right now is to stay out of the news, you know for negative things and and uh, you know in proper behavior and things like that So we're not in the news fortunately for for lending client assets things like that. We can't we don't it's not part of our business model um We will continue to offer, you know very transparent compliant and stable platform Um that provides access to you know, the real client experience of the customer the client service agents that We have highly trained on our staff uh, we will continue to partner with credible third parties and uh that have customer assets in their best interest and And also launch new products and services. The latter would include, you know, additional staking once we see some stabilization in the markets We're gonna die. We're not just a crypto platform, right? We want to be the world's best digital IRA platform that is seamlessly integrated that allows, you know The working professionals domestically here to participate in not only the blockchain economy, but you know fractionalized real estate Other yield generating products the stocks, you know stock markets, etc So as we evaluate partnerships and we're in the middle of discussions right now to launch products and services that can benefit our customers Way beyond crypto, right right now We're mostly focused on crypto and precious metals But that will expand and we're pretty excited that I'm pretty confident that in the next You know three to six months. We'll see some new services launch that I think will further Allow our clients to diversify and then benefit from potential upside over the long term Fantastic keeping a loop fractionalized shares of real estate sounds good All right, David. What do we got coming on the pipe for this next year coming up? Yeah, so so a lot, um I can't speak to everything in detail, but some some things to keep your eye out for are robust tooling around nft tax loss harvesting that we're building out to help folks Who may be sitting on illiquid nfts? But they they present huge tax savings opportunity if you can dispose of them You know compliantly so that should be coming in december and then we're pretty laser focused on a lot of New portfolio tracking type features all completely for free. So they'll just be so much more feature functionality coming in coin ledger um That's completely free just for the average crypto investor Um When it comes to tracking their portfolio across again hundreds and hundreds of wallets blockchains and exchanges So more to come I'll have to keep you posted Fantastic. All right. So everybody I want to say thank you again gentlemen for stopping by and just giving us some Information about the business what's going on with the business how things have changed and I should say mostly How thank you to stay the same. I want to say thank you so much For being just stable and boring. I really appreciate that Absolutely, thank you for having us on rob. Yes, you're welcome and then of course everybody watching the video There's a link in the description Take a look for uh, I trust and then also we have a link in the description of course for a crypto trader or for a coin ledger Uh links in the description. You can find those quite easily, but that is it for today So gents gentlemen, thank you so much for stopping by appreciate it and we'll see you in the next one Thank you. Have a good day I was muted. Sorry So that is it. So I hope that answered some people's questions I don't think it answered everybody's questions because there's a lot of questions in the chat So we're gonna do now is we're gonna transition from the interview to the q&a and I'll answer everybody's questions to the best Of my abilities, even though there may be some questions I would like to shy away from but you can't can't shy away from tough questions You got to go from there. So let's just jump into the q&a. I start a bunch of them So let's just go with that First of all