 Hello everybody, thanks a lot for having us here after winning a slash Shanghai it's great to be here and thanks a lot for this last team for inviting us here and there should be a slide before that anyway so let me dive right into it the quiz we digitize accounts receivables accounts payables to make this asset class accessible to institutional investors and provide cash liquidity to small medium enterprises so they don't have to wait 60 days and longer for getting paid. Why are we doing this? We have 43 trillion US dollars in outstanding accounts receivables any given day worldwide and only three trillion in liquidity is provided by traditional incumbents such as banks leaving us with a market opportunity of 40 trillion which we aim to unlock in in the currently locked capital and focusing on a niche market of food exports from Europe to China and vice versa because we are based in Shanghai and we have an existing partner network that helps us tap into this market. Do we have market validation we should do these are invoice financing platforms and as you can see exponential growth so it's not only a massive market it's also a growing market whereas we focus on a very niche market of fast moving consumer goods. How are we doing this? We have a very easy to use web interface so as a small medium enterprise you go to our website you register upload your invoice and we issue the digital asset that token on your behalf. Why is blockchain important for you as an investor? Simply because this token is instantly tradable so it streamlines the securitization process so a secondary market it's available for institutional investors that is not the case at the moment and it solves and mitigates the trust and transparency issue in international trade which you currently have between buyers and sellers. Business model is very straightforward so we charge a service fee for this operating this technical infrastructure of 1% so a 1 million euro invoice nets us 10,000 euros and leads us to revenue projections of 11 million by 2020. We'll go to market as I said through partners in FMCG and the existing network in automotive and our competitors mainly focus on loans and therefore higher risk asset classes we are the only solution focusing on accounts receivables payables. Therefore we have a first to market advantage and blockchain has the two competitive advantages of serving the trust and transparency issue between buyers and sellers as well as streamlining the securitization process. It's very easy to use and since it's a marketplace it also has competitive pricing. Our team has over 50 years combined experience in launching digital products and I'm happy to answer your questions thank you. Thank you the final round of questions please. Yeah cool but I mean every time you introduce a new financial product like this it requires some experience and volume because money starts flowing to it and although now you do it based on blockchain as well which should increase increase trust I think that might mean that you will have a double gain trust issue until it's really out there. So my question is what are the things that need to happen before this can really start growing? So actually we use a standard a securitization from a framework of the Hong Kong Stock Exchange. So something institution investors are already they already known so actually for us it doesn't matter if it's a token or not we actually only use the blockchain because it cuts out the intermediaries so since it's always accounts receivables accounts payables we can have a standard legal framework and we don't need intermediaries like custodian banks because it's already distributed over like as per se with the blockchain so it actually increases efficiency and it still has the same legal construct and for us as a platform operator it doesn't matter if it's a security or not because we only target institution investors and not retail investors. And you said the securitization model that's already that's a standard one. That's a standard one yeah but at the moment you had just have a lot of intermediaries which we believe that actually the blockchain technology streamlines and makes more efficient so it cuts costs and actually yeah it's just faster and how ready are you and so we have an MVP and a first customer which we are currently like progressing or like conducting the business the first proof of concern. Can you give us a little bit of background of yourself in the management team? Yes for me it's a second start I've been in financial technology my first one was in mobile payments 2011-12 raised equity crowdfunding twice successfully for that but too early wrong market was in Germany and the management team actually as you can see like Florian and Armin are actually managing partners of media man it's a German digital agency with 140 employees worldwide so they are minority shareholder and quite quite active so we have a lot of supporting URUX we have SOS Ventures as the first VC investors and actually Simon Capron is the former CIO of City Portugal helping us as an advisor and investor we have some other and advisors and investors as well actually just recently Amogo which is a part of Cardano invested in us or confirmed investment in us as well. Thank you and we are out of time and this was our final pitch so thank you so much. Thank you.