 Thank you Tracy. Pleasure to be here and so I'm here to give you an update on the CSE well in a word we're busy. 2017 yeah we were busy it was a record year we've had a record year almost every year but this one exceeded all others and so at the end of the year we had 35 companies with a market cap each of over 100 million dollars. It was the first time that our companies collectively and there were about 310 on average last year I would say that raised over a billion dollars in financing and due to the volume of our trading it was the first time that our 300 odd companies traded more on a couple of days in December more than all of the companies on the TSX venture exchange in each of volume value and trades. So we had a lot of trading here's our five-year trading trend I think it's fair to call this a hockey stick and there aren't too many hockey sticks that you'll see in a graph that aren't projections this one's historical so we're happy with that so you can see there's active trading but it's their liquidity it's a small stock exchange most people seem to assume that there's going to be less liquidity on on this CSE than on other stock exchanges that have a much bigger list. Turnover is a measure of liquidity it's one that's easy to find you take the value of the trading of all the shares and you divide that by the market cap of the companies who shares your trading. This is a monthly slide and I think you can guess that the red line is the CSE because it's the highest on the slide and I may not be showing it to you if it wasn't right. The black line is the TSX and and it's a more stable trading environment partly because it's larger partly because it's large cap stocks and typically it runs four to five percent a month turnover in trading. Our peak was over 30% in December yes that was powered by largely by cannabis some people claimed it was all cannabis it's not true it was only about 90% it's obviously come off quite a bit since then but in in March our turnover was 13% compared with 5% on the other exchanges in Canada so we're not actually showing this to tell you that our market's more liquid than their market. What we've always told people is the stock exchange doesn't give you liquidity. Liquidity is a function of investors interest in trading the securities that are listed on your exchange. Obviously there was a lot of investor interest all of the investors in our marketplace are part of the Canadian capital markets so we have the same dealers the same investors we do have different companies so that was a very big year for us. This slide shows growth and listings on the CSE it goes back to 2007 we actually launched a couple of years before that but every year we saw continuous growth in the number of companies listed on our exchange. We had a bit of a dip for about five six months back in 2016 and people were asking me gee Rob you know that you don't seem to have any more companies listed now and you had six months ago you said well yeah you know sometimes we have to delist a few typically for failure to thrive so I decided well let's see how the other exchanges are doing now it's a little hard to see because the scale is different so the scale on the left and the black line is for the our competitor the venture exchange and the scale on the right and the red line is for the CSE in the past five years number of companies listed on our exchange has doubled and the number of companies listed on the other exchange has fallen by about 20 or 500 companies less than it used to be so we're fairly happy with our growth and while mining companies do not predominate our exchange we have several and they have been growing they currently are almost a third of the listed companies and they represent 11 to 14 percent of the market cap in total and so it's still a growing sector we had 144 financing transactions last year for our mining companies we had four new IPOs and the average market cap for those companies grew from only six million up to over 10 million during the year we also have a fairly robust technology sector there is currently over 70 companies there we had 10 new ones came in last year so technology as a sector is a larger sector on our marketplace relative to the other junior markets in Canada and as you might have guessed yes we also have blockchain so we've got a growing number of blockchain companies it numbers about two dozen at the moment and they are either owners of the technology developers of the technology or they're users of the blockchain technology one of them a global blockchain shown here is actually here at this conference and and they either are presenting or have presented I think they're symbols BLOC so do we have any other interest in blockchain well I think there's a lot of people are wondering what you know what is it what is it is it are these currencies are these securities are not securities what are they well cryptocurrencies everybody's heard of them like fiat currencies are could be described as a commodity right and and they trade like commodity their value goes up and down just like other currencies value goes up and down now tokens are perhaps a less known class of securities and they have great flexibility on what they can represent this slide says from coins to kittens but also to equity shares or to common common shares now the regulators the likes of the securities commissions in Canada jointly called the CSA and the big brother in the United States called the SEC they're very much on the alert watching what's what's developing this space very much concerned about about whether or not some of these offerings are actually securities and should be regulated as such well to a large extent we agree with them and that a lot of them are securities and they could benefit from the the regulation and the transparency that you get in securities markets which leads us to possible trading of tokens or STO's security token offerings so in February we announced that we are installing a blockchain into our trading engine it is installed in fact that will allow us to trade security token offerings on our marketplace and they will be able to clear and settle instantaneously this will be quite quite a big change in in clearing and settlement so real-time clearing and settlement what does that mean well the means that when the trade happens it also clears it's it's done the money has changed hands the ownership of the of the security has changed hands right the security could represent a common share it just needs to be tokenized in order for it to clear and settle in the blockchain so um well I guess the other thing that that I should mention is that you know where are we well I said we've installed it we're testing it and we expect to be able to open the system up for testing by investment dealers that are trading in in our exchange by the end of q2 so when we get to real-time clearing and settlement well recently the North American equity markets went from t plus three to t plus two now I was told by someone in the united states that that project to change from t plus three to t plus two was a 10-year 500 million dollar collective industry investment well we can take it from t plus two to t plus zero and we can do it for a lot less money it is not going to be a huge investment on the part of the investment dealers in order to connect to our exchange with tokenized securities this will reduce the capital requirements within the equities markets by a significant amount because you won't have that two-day flow it will also as you know with blockchains it it will eliminate any possibility for errors in the processing of them this would include corporate actions such as dividends and stock splits all in all it should result in a dramatic lowering of costs particularly for dealers ultimately for investors the shareholders of equity securities in canada so if you want to follow our progress we have a web page on that and you can you can go to this web page and and sign up if you don't want to take the time to record what's up there you can also find it on on our website you can look at our news you can look at our blog and the website is just called simply the cse.com it would have been cse.com but somebody owned that and wanted too much money and then they're not using it so we've got the cse.com and if you have questions particularly about our blockchain initiative our CEO Richard Carlton answers his phone responds to emails is quite available he's also leading our initiative in this blockchain development within our trading engine so he is really the go-to person for questions about it I can answer some of the the simple ones most of what I know I've already told you but there might be some other things if you have questions about that then I'll I'll try so my final word here at investor intel is it's really nice to see that we have several cse listed companies here a couple of years ago there might not have been any and there might have been one and not only that we have some yet to be listed or soon to be listed companies that are either attending or actually have people involved with them that that are presenting at this conference so that's also a very great development for the cse and and we're happy to be here with them and so you can also check them out at the cse.com and if you know their symbol you can stick it in the search field and bang you get there if you don't know the symbol type in their name every company's got a page and you can find pretty much everything about them all of their continuous disclosure you can see the order book you can see 25 previous trades and right there on their page that's all I have to say for today