Business Plan

Table of Contents
Executive Summary ........................................................................................................... 4

About the Company ........................................................................................................ 4

The Market Opportunity ................................................................................................. 4

Our Solution/Competitive Edge ...................................................................................... 5

The Market Growth ......................................................................................................... 6

The Management Team .................................................................................................. 7

Business Overview ............................................................................................................. 7

Introduction ..................................................................................................................... 7

Products and Services ........................................................................................................ 9

Market Analysis Summary................................................................................................ 12

Industrial Analysis ........................................................................................................... 12

Market Needs And Trends ............................................................................................. 21

Target Market Description............................................................................................ 23

Competitive Analysis ..................................................................................................... 28

SWOT Analysis .................................................................................................................. 29

Strengths ....................................................................................................................... 29

Weaknesses ................................................................................................................... 30

Opportunities ................................................................................................................ 30

Threats ........................................................................................................................... 30

Financial Plan ..................................................................................................................... 31

Use of Proceeds.............................................................................................................. 31

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Income Statement......................................................................................................... 32

Balance Sheet ................................................................................................................ 36

Break-Even Analysis....................................................................................................... 38

Cash Flow Statement .................................................................................................... 40

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EXECUTIVE SUMMARY
Purpose of the Plan: We have set the following objectives to be achieved through this
document:

▪ To show the healthy need for a decentralized crypto exchange across the world;
▪ To present the business idea and its financial potential to venture capital firms; and
▪ To get the seed funding of $1,000,000 to create the blockchain, build the app, and
meet related expenses, as well as Series A funding of $100,000,000 to introduce
innovative features to the platform, launch the portal in various countries, and have
cash for operational expenses.

ABOUT THE COMPANY

R3mit Laboratories Ltd. (DBA R3mit.io) is a new crypto tech entity based in Hampshire,
England. It has planned to design and develop an app-based cryptocurrency payment
portal that will include the company’s own blockchain, decentralized exchange, multi-
coin wallet, Visa payment card, and NFT marketplace. As a result, all the best features
of traditional finance and blockchain technology will be available in one place. All in all,
the platform will help users or customers enjoy the security, speed, and efficiency of
crypto deals with the convenience of using fiat currency for everyday purchases.

THE MARKET OPPORTUNITY

▪ Traditional payment systems using fiat currency are built on old and outdated
infrastructure, making it very difficult to integrate new forms of payment like
cryptocurrency. In addition, these systems have centralized structures with strict
regulations, high costs for participants, and limited adaptability to innovations or
currencies. Therefore, more modern decentralized fiat currency payment solutions

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have replaced traditional systems, such as mobile money or wallet-based cash apps
using cryptocurrency as fiat.
▪ Southeast Asian nation has the second-highest unbanked population globally –
with an estimated 69% of citizens excluded from financial activities. 1 On the other
hand, around 57% of the population of Africa, around 95 million people, do not have
a traditional bank account.2 In addition, despite increased internet usage and great
growth, 190 million Indians and 5.9 million Americans are still unbanked.3 4These
untapped markets provide opportunities for companies to offer cryptocurrency
exchange solutions that are easy to use, personalized, transparent, and accessible.
▪ By 2025, digital wallets will account for $10 trillion in global transaction volume,
5
including in-store and e-commerce transactions. Also, platforms (crypto
exchange) with distinctive services like multi-currency wallets, cryptocurrency
accounts, peer-to-peer trade, NFT marketplace, DeFi, visa payment cards, crypto
rewards, internal chat communication, international e-money transfers, money
exchange services, etc., appear to be headed towards a promising future.

OUR SOLUTION/COMPETITIVE EDGE

We will run our cryptocurrency tech company with the following competitive edge:

▪ Energetic and Highly Experienced Team: Our executive team has experienced and
accomplished leaders who bring a wealth of knowledge and expertise to the entity.
With backgrounds in finance, technology, and business, our executives have a track
record of success and a deep commitment to innovation and user satisfaction.

1
https://mercuryo.io/explore/article/unbanked-asia
2
https://thefintechtimes.com/top-african-challenger-banks-helping-the-unbanked-through-mobile-services/
3
https://www.zeebiz.com/economy-infra/news-fintech-sector-is-catalysing-indias-growth-story-among-unbanked-population-
224017#:~:text=However%2C%20despite%20increased%20internet%20usage,banking%20services%20are%20needed%20nationwide.
4
https://www.forbes.com/advisor/banking/costs-of-being-unbanked-or-
underbanked/#:~:text=The%202021%20FDIC%20Unbanked%20and,5.9%20million%20households%E2%80%94are%20unbanked.
5
https://partners.wsj.com/discover-global-network/accelerating-progress/the-future-of-digital-
payments/#:~:text=And%20by%202025%2C%20digital%20wallets,store%20and%20e%2Dcommerce%20transactions.&text=Digital%20payments%20a
re%20becoming%20more%20and%20more%20embedded%20in%20everyday%20life.

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▪ Worldwide Reach: The app-based cryptocurrency payment portal will be for both
iOS and Android users. Also, it will be available to people in Africa, Southeast Asia,
and India initially, then in the US, and all over the world subsequently.
▪ Innovative Platform Features: The platform will be a one-stop solution for storing,
swapping, spending, and managing all the digital assets – it will allow users to do
trading seamlessly (without third-party involvement), store and transfer hundreds
of top coins and tokens, and use the attached Visa card to utilize crypto assets in
daily activities. These features will help people have complete control over their
financial world as well as access and manage their digital assets on the go.

THE MARKET GROWTH

▪ The global cryptocurrency exchange platform market is expected to reach $264.32
billion by 2030, growing at 27.8%.6
▪ The global crypto wallet market is expected to grow at a CAGR of 24.31% by 2030.7
▪ The global digital wallet market is expected to reach $10,097 billion and grow at a
CAGR of 23% by 2030.8
▪ The decentralized finance (DeFi) market size is projected to reach $232.20 billion by
the end of 2030 with a (CAGR) of roughly 42.6%.9

6
https://www.researchandmarkets.com/reports/5649000/cryptocurrency-exchange-platform-market-
size#:~:text=What%20is%20the%20estimated%20value,at%20%2437.07%20Billion%20in%202022.
7
https://www.polarismarketresearch.com/industry-analysis/crypto-wallet-market
8
https://www.psmarketresearch.com/market-analysis/mobile-wallet-
market#:~:text=Market%20Overview,make%20transactions%20from%20any%20location.
9
https://www.globenewswire.com/en/news-release/2023/03/07/2622443/0/en/Global-Decentralized-Finance-DeFi-Market-Expected-to-Surpass-
USD-232-20-Billion-by-2030-At-a-CAGR-of-Nearly-42-6-According-to-Latest-Research-
Study.html#:~:text=According%20to%20study%2C%20the%20global,42.6%25%20between%202022%20and%202030.

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THE MANAGEMENT TEAM

Raffaello Ronchese Alex Hartwig Daniele Marco Ronchese

Chief Executive Officer Chief Business Chief Technology Officer
Development Officer

All of these members are passionate, dedicated, and highly experienced professionals.
From developing the all-in-one wallet app, decentralized exchange, and credit card
system to focusing on security and transparency, they are dedicated to delivering the
best possible experience for users. They have a shared vision of creating a future world
where cryptocurrency is widely accepted and used as a reliable form of payment.

BUSINESS OVERVIEW

INTRODUCTION
Business (Legal) Name R3mit Laboratories Ltd.
Doing Business As R3mit.io & R3mit (coin)
Country of Incorporation United Kingdom
Year of Foundation 2022
Legal Status Private Limited Company
Company’s CEO Raffaello Ronchese
Office Address 1 Gosport St, Lymington SO41 9BG

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Phone TBC (to be confirmed)

Email [email protected]
Website https://r3mit.io/
Social Media Pages https://twitter.com/r3mitpay
https://www.instagram.com/r3mitpay/
https://www.facebook.com/R3mitpay/
https://www.tiktok.com/@r3mitpay

Mission Statement:
“To revolutionize the traditional payment systems by accelerating the widespread
adoption of cryptocurrency globally. We strive to bring cryptocurrency to every wallet,
with a focus on practical applications, while addressing the limitations and inefficiencies
of current decentralized cryptocurrency systems and blockchains. Our ultimate goal is
to create a new generation of secure, unalterable, and decentralized payment solutions
that can effectively compete with traditional fiat payment networks."

Vision Statement:
“To create a future where cryptocurrency is widely accepted and used as a reliable and
accessible form of payment all over the world. We envision a world where transactions
are secure, unalterable, and decentralized, freeing people from the limitations of
traditional payment systems and paving the way for a more inclusive financial system
for everyone.”

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PRODUCTS AND SERVICES

We will offer the following:

▪ App: We will develop apps for both iOS and Android users. The R3mit app will be a
comprehensive digital payment solution that offers a seamless and secure way to
manage cryptocurrency and fiat assets. This innovative application will give users a
range of features and benefits to help them take control of their financial world. Its
user-friendly interface will make it easy for everyone to access and manage their
digital assets on the go. Some of the key benefits and features of the app will be:
o Multi-currency support;
o Simplified buying and selling of cryptocurrencies;
o Real-time tracking of all transactions;
o Integration with the R3mit Visa payment card; and
o 24/7 access to top-notch customer service.
▪ Visa Card: The R3mit Visa payment card is an absolute tool that combines the ease
of a traditional payment card with the security and flexibility of a digital wallet. With
it, users can easily convert and spend their cryptocurrency holdings without having
to go through the exchange hassle. It will allow users quickly access their funds
from anywhere and enjoy seamless integration with the R3mit digital payment tool.
Additionally, the card will help holders withdraw cash at ATMs and make purchases
at millions of merchants worldwide that accept Visa. With low transaction charges,
high-security measures, and ease of use, the R3mit Visa payment card will be the
perfect solution for those looking to simplify their financial life.
▪ Multi-Currency Wallet: It will be a safe and user-friendly e-wallet allowing people to
conveniently store, transfer, and manage various cryptocurrencies. The wallet is
designed to be intuitive and easy to use, making it accessible to users of all levels.
With it, people can have full control over their assets and enjoy the benefits of a
decentralized system, including fast and cost-effective transactions, privacy, and

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security. Moreover, it is integrated with the R3mit.io Chain platform, allowing users
to participate in network governance and vote on important decisions that shape
the platform's future.
▪ Decentralized Exchange: This top-tier platform for peer-to-peer trading will have a
wide range of features to fulfill the needs of both novice and experienced traders.
It will offer spot market, futures, and margin trading. Users will access a wide range
of cryptocurrencies, along with an engaging interface, 24/7 customer support, and
an array of advanced trading tools, including charting and order management.
▪ Swaps: The R3mit decentralized exchange is a cutting-edge portal providing users
with an ideal way to trade digital assets in a secure and decentralized environment.
It is designed to be an Automated Market Maker (AMM) focused on swaps, making
it the perfect platform for those who are looking for fast, easy, and efficient trading
of their digital assets. It comes with multiple benefits, including high liquidity, low
latency, 24/7 uptime, and much more. With its focus on swaps, users are able to
trade their assets in real-time without the need for any central authority, making it
easy to have full control over digital transactions as well as digital assets.
▪ NFT Marketplace: Our NFT marketplace will help buy and sell unique digital assets,
like collectible items, game items, and other unique digital content. This platform
will have a simple and user-friendly interface for individuals to create, manage, and
trade their NFTs, providing an innovative and efficient experience. Also, users on
the portal will trade their assets without any middle person, increasing the speed
and security of transactions. Overall, our R3mit NFT marketplace can revolutionize
the NFT industry by making it easier and more accessible to everyone, whether they
are experienced traders or just starting out.

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The above-mentioned offerings have generated the following revenue streams for us:

▪ Blockchain block reward, including coins sold at $2.50 each

▪ 0.1% commission on all card purchases
▪ Transaction fee of up to 0.5% on payments (it will be free initially)
▪ Trading fee of 0.5% on every trade made on our decentralized exchange
▪ Charging a 10-20% withdrawal fee above the network fee (based on the blockchain
used)
▪ Taking 0.05% royalty off every NFT transaction made on the platform
▪ Charging a flat fee of 10 dollars on every fiat-based withdrawal (this service will be
available in specific regions/countries)

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MARKET ANALYSIS SUMMARY

INDUSTRIAL ANALYSIS

Cryptocurrency Exchange Platform

The rising awareness about cryptocurrencies and their advantages, such as flexibility
and security, is driving the industry's growth. In addition, the strong emphasis on
secure and decentralized networks owing to the emergence of blockchain technology
also bodes well with the market growth. As a result, several market players have
invested in research and development activities to introduce advanced innovative
exchange platforms.

▪ The Ethereum segment is expected to witness a significant CAGR in the coming

years owing to its dominance in the Decentralized Finance (Defi) space.
▪ Moreover, the growing number of Non-Fungible tokens (NFT) projects is expected
to increase the demand for Ethereum exchanges.
▪ The individual end-use segment is expected to witness the fastest CAGR by 2030.
▪ The growth is due to the rising awareness about cryptocurrencies in developing
countries, such as Nigeria and the Philippines, and the growing emphasis on digital
currencies in developed countries, such as the U.S., Canada, Japan, and others.
▪ Asia Pacific is expected to witness the fastest CAGR by 2030 due to technological
advancements and rising awareness about blockchain technology.
▪ People in the region are inclined toward cryptocurrency investment as an
alternative to traditional investment options, increasing the need for
cryptocurrency exchange platforms. 10

10
https://www.researchandmarkets.com/reports/5649000/cryptocurrency-exchange-platform-market-
size#:~:text=What%20is%20the%20estimated%20value,at%20%2437.07%20Billion%20in%202022.

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Growth of Crypto Wallets

Cryptocurrency wallets presently account for almost 25% of total Bitcoin sales. One of
the primary advantages of cryptocurrency wallets is that they can securely store users'
private keys or passwords that ensure the security and accessibility of their
cryptocurrencies, allowing them to transfer and collect virtual currencies such as
Ethereum and Bitcoin.

The increased use of cryptocurrency can be ascribed to the rise in crypto wallet usage.
The number of crypto wallet users worldwide reached 84.02 million in 2022, up from
76.32 million in 2021. The number of cryptocurrency purchasers is more than before.
Companies increasingly offer digital payment options across all channels as more
crypto purchasers emerge. Furthermore, rising banking rivalry, growing distrust in
banks and financial institutions, and increasing money laundering activities are driving
the expanding adoption of cryptocurrencies. The growing popularity of crypto money
is boosting the popularity of private crypto wallets.

Growth Dynamics
Increasing bitcoin use and merchant acceptance of crypto payments might be key
distinctions in the increasingly competitive digital payment landscape. As a result of
shop adoption, cryptocurrency wallets are progressively gaining customer familiarity.
By incorporating crypto wallets, industries' paths will alter since they provide benefits
such as current payment methods. By removing monetary restrictions and increasing
the value of member data, these wallets enable virtual collaborations with shops.
Given consumers' enthusiasm to adopt current technology, merchants may achieve
success and get a physical grasp on cryptocurrency.

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Crypto wallets with multiple accounts and privacy capabilities would be an

exceptionally safe sign-in option. Users must additionally submit an encrypted login ID
to guarantee total security. In addition to the data encryption necessary to digitally
validate transactions, a digital wallet maintains a record of the blockchain address
where a given item is housed. 11

Growing Market Segments

Based on System
▪ In 2021, the Android sector led the market, accounting for more than 40% of total
sales. Crypto wallets are often built to function on both Android and iOS platforms.
Android wallets are often open-source accounts that are easy for consumers to
download and access. The increased usage of cryptocurrencies and rising
smartphone penetration are likely to propel the market forward. By 2022, Android
phones will account for 70% of all smartphones globally. During the projected
period, the increased usage of Android devices is likely to boost the growth of the
Android operating system sector.
▪ The iOS category is predicted to increase significantly in the coming years. iOS is
regarded as a more secure solution than Android systems. Data has just become
the most precious commodity. As a result, worries about data privacy have grown
over time. Concerns about data security have encouraged the development of
solutions that keep users' data safe and restrict the personal information supplied
to operating system owners. As of 2022, an estimated 1 billion people globally use
iPhones. This is a 5.48% gain over the previous year. Since 2017, the number of active
iPhone users has climbed by 22.85%, with the number of iPhones in use increasing
by 186 million. The private keys kept on the crypto wallet are more secure on iOS.

11
https://www.polarismarketresearch.com/industry-analysis/crypto-wallet-market

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▪ Furthermore, iOS crypto wallets provide a secure and dependable method of

keeping crypto money. Therefore, the iOS operating systems' security,
accessibility, and ease of use will likely boost the segment's development in the
coming years.12

Based on Application
▪ The remittance category is predicted to expand the most throughout the
projection period. Consumers across the world are using cryptocurrency to
transmit money internationally. Users choose cryptocurrency for remittances
because they may be able to avoid some of the hefty fees paid by regular banks and
money transfer providers. Most crucially, several markets have lately seen the
introduction of remittance-specific crypto products based mostly on Stablecoins.
Because they are linked to a fiat currency, Stablecoins are great for remittances.
This removes most of the price volatility while also allowing users to benefit from
cryptocurrency's speed and cheaper expenses. 13

Based on Wallet Type

The hot wallets category led the market in 2021, accounting for more than 50% of total
sales. Hot wallets are more user-friendly since they are linked to the internet. Hot
wallets are a collection of crypto wallets that include desktop, mobile/digital, and web-
based wallets. Further details of Digital Wallet growth are given below:

Digital Wallet Market

The digital wallet market has been experiencing significant growth and is expected to
continue expanding. The increasing adoption of digital payments, technological

12
https://www.polarismarketresearch.com/industry-analysis/crypto-wallet-market
13
https://www.polarismarketresearch.com/industry-analysis/crypto-wallet-market

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advancements, and changing consumer preferences have been driving the

development of the digital wallet market globally.

Southeast Asia
Southeast Asia is an emerging market on many digital fronts, including digital
payments. Along with the region’s booming digital commerce industry, the digital
payments industry expects to grow multifold by 2025. The big 6 Southeast Asian
countries: Singapore, Malaysia, the Philippines, Indonesia, Vietnam, and Thailand, are
the largest markets and anticipate the highest growth not only in Southeast Asia but in
the Asia-Pacific region. Cash is still widely used in Southeast Asia. Despite that, the
digital payment adoption rate is high, and payment methods such as digital wallets and
contactless payments are gaining significant popularity among consumers. As a result,
transaction values and volumes of mobile payments in Southeast Asia were projected
to increase at much higher rates than the number of its users.

The Southeast Asian e-commerce market was forecast to grow over double by 2025 in
the emerging markets of Indonesia, Vietnam, Thailand, and the Philippines.
Accordingly, these four markets were forecast to see the highest growth in mobile
users by 2025. As a result, cards, domestic payments, cash, and mobile wallets
contributed the most to Southeast Asia's total e-commerce gross merchandise value
(GMV).14

▪ Total transaction value in the digital payments segment is projected to reach

US$226.60bn in 2023.
▪ Total transaction value is expected to show an annual growth rate (CAGR 2023-
2027) of 14.16% resulting in a projected total amount of US$384.90bn by 2027.

14
https://www.statista.com/topics/9451/digital-payments-in-southeast-asia/#topicOverview

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▪ The market's largest segment is digital commerce with a projected total transaction
value of US$193.80bn in 2023. 15

India
According to the IAMAI-Kantar ICUBE 2020 report, India's number of active internet
users is projected to surge from 622 million in 2020 to 900 million by 2025, with
groundbreaking growth of 45%. According to the report, there will be more internet
users in rural India than in urban India by 2025, reducing the gap between urban and
rural access to the internet. Likewise, according to data released in 2019 by the
Telecom Regulatory Authority of India (TRAI), India's telecom regulator, the country's
mobile phone subscriber base exceeds one billion. Thus, with increasing internet
accessibility and the number of smart phone users in the country, the India mobile
wallet market is also anticipated to surge in the upcoming years.16

Based on the application, the India Digital Wallet market segmentation has been done
into money transfer, recharge, movie booking, food ordering, and others. The money
transfer segment is anticipated to hold a notable share in the market owing to the wide
adoption of these wallets for bank-to-bank transfers. The movie booking segment is
expected to surge at a noteworthy CAGR because of numerous benefits, such as
discount coupons and food coupons and the rising adoption of digital payments for
movie bookings.17

▪ Total transaction value in the digital payments segment is projected to reach

US$180.40bn in 2023.

15
https://www.statista.com/outlook/dmo/fintech/digital-payments/southeast-asia
16
https://www.globenewswire.com/en/news-release/2022/01/25/2372817/0/en/India-Mobile-Wallet-Market-Witnessing-Growth-Spurts-Forecast-
to-Grow-at-a-CAGR-of-46-3-by-2027-BlueWeave.html
17
https://www.knowledge-sourcing.com/report/india-digital-wallet-market

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▪ Total transaction value is expected to show an annual growth rate (CAGR 2023-
2027) of 15.56% resulting in a projected total amount of US$321.70bn by 2027.
▪ The market's largest segment is digital commerce with a projected total transaction
value of US$147.60bn in 2023. 18

Africa
Africa accounts for 70% of the world’s $1 trillion mobile money value. The value of
Africa’s mobile money transactions increased 39% to $701.4 billion in 2021 from $495
billion in 2020, highlighting the future of African banking is mobile. GSMA’s figures
released on Apr. 21 show mobile money transactions increased 23% to 36.7 billion in
2021 from 27.5 billion in 2020. In the review period, registered mobile wallets in Africa
topped 621 million, a 17% increase from the 562 million captured in 2020. There are now
over 184 million active mobile money wallets on the continent compared to 161 million
accounts just over a year before.19

84% of internet users in Kenya and 60% in Nigeria regularly made payments with mobile
phones in 2021. In these countries, mobile payments meet the need for financial
inclusion, as most of the population still lacks a bank account.20

▪ Total transaction value in the digital payments segment is projected to reach

US$146.40bn in 2023.
▪ Total transaction value is expected to show an annual growth rate (CAGR 2023-
2027) of 16.01% resulting in a projected total amount of US$265.20bn by 2027.

18
https://www.statista.com/outlook/dmo/fintech/digital-payments/india
19
https://qz.com/africa/2161960/gsma-70-percent-of-the-worlds-1-trillion-mobile-money-market-is-in-africa
20
https://www.weforum.org/agenda/2022/03/mobile-payments-africa-covid-pandemic/

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▪ The market's largest segment is digital commerce with a projected total transaction
value of US$72.73bn in 2023. 21

United States
Consumers’ survey responses indicate that interest in digital payments continues to
grow, including in new areas like “buy now, pay later” and cryptocurrency. The 82
percent of Americans using digital payments—browser-based or in-app online
purchases, in-store checkout using a mobile phone and QR code, and person-to-person
(P2P) payments—in 2021 exceeds last year’s 78 percent and the 72 percent of five years
ago. Of the respondents who used BNPL, 29 percent report that without this financing
option, they would have made a smaller purchase or not purchased at all. Another 39
percent say they chose BNPL over using a credit card, and the remaining 31 percent
indicate BNPL was a substitute for a debit card or cash. Turning to cryptocurrency, its
penetration remains nominal on a broad level, but its steep adoption curve is striking.
One in five respondents report holding or holding crypto assets, up from 6 percent just
a year earlier. 22

▪ Total transaction value in the digital payments segment is projected to reach

US$2,041.00bn in 2023.
▪ Total transaction value is expected to show an annual growth rate (CAGR 2023-
2027) of 14.66% resulting in a projected total amount of US$3,528.00bn by 2027.
▪ The market's largest segment is Digital Commerce with a projected total
transaction value of US$1,362.00bn in 2023.23

Market Growth of Digital Assets in Southeast Asia

21
https://www.statista.com/outlook/dmo/fintech/digital-payments/africa
22
https://www.mckinsey.com/industries/financial-services/our-insights/banking-matters/new-trends-in-us-consumer-digital-payments
23
https://www.statista.com/outlook/dmo/fintech/digital-payments/united-states

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Digital assets include cryptocurrencies, digital tokens, non-fungible tokens (NFTs), and
DeFi services.

▪ Revenue in the digital assets segment is projected to reach US$2,034.00m in 2023.

▪ Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 16.29%
resulting in a projected total of US$3,720.00m by 2027.
▪ The average revenue per user in the digital assets segment amounts to US$28.75 in
2023.
▪ In the digital assets segment, the number of users is expected to amount to
105.50m users by 2027.
▪ User penetration will be 10.3% in 2023 and 14.8% by 2027. 24

Market Growth of Digital Assets in Africa

▪ Revenue in the digital assets segment is projected to reach US$415.00m in 2023.
▪ Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 16.04%
resulting in a projected total amount of US$752.50m by 2027.
▪ The average revenue per user in the digital assets segment amounts to US$13.14 in
2023.
▪ In the digital assets segment, the number of users is expected to amount to 56.63m
users by 2027.
▪ User penetration will be 2.5% in 2023 and is expected to hit 4.1% by 2027. 25

Market Growth of Digital Assets in India

▪ Revenue in the digital assets segment is projected to reach US$364.00m in 2023.
▪ Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 8.97%
resulting in a projected total of US$513.20m by 2027.

24
https://www.statista.com/outlook/dmo/fintech/digital-assets/southeast-asia
25
https://www.statista.com/outlook/dmo/fintech/digital-assets/africa

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▪ The average revenue per user in the Digital Assets segment amounts to US$1.77 in
2023.
▪ In the digital assets segment, the number of users is expected to amount to
328.70m users by 2027.
▪ User penetration will be 14.5% in 2023 and is expected to hit 22.4% by 2027. 26

Market Growth of Digital Assets in the United States

▪ Revenue in the digital assets segment is projected to reach US$27,410.00m in 2023.
▪ Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 16.26%
resulting in a projected total of US$50,080.00m by 2027.
▪ The average revenue per user in the digital assets segment amounts to US$368.60
in 2023.
▪ In the digital assets segment, the number of users is expected to amount to 99.65m
users by 2027.
▪ User penetration will be 22.1% in 2023 and is expected to hit 29.0% by 2027. 27

MARKET NEEDS AND TRENDS

▪ Customers want a user-friendly platform with a simple and intuitive interface that
allows them to easily send and receive money, make payments, and manage their
digital assets.
▪ The app's key features include real-time transaction tracking, multi-currency
support, simplified buying and selling of cryptocurrencies, integration with the Visa
payment card, and 24/7 access to top-notch customer service.

26
https://www.statista.com/outlook/dmo/fintech/digital-assets/india
27
https://www.statista.com/outlook/dmo/fintech/digital-assets/united-states

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▪ Customers appreciate rewards programs, cashback offers, and other incentives

that provide additional value for using the platform, such as discounts, loyalty
points, or referral bonuses.
▪ Customers expect transparent and fair pricing, with clear information about fees,
exchange rates, and other charges associated with using the crypto payment
platform.
▪ Customers expect access to a diverse range of cryptocurrencies, including popular
ones like Bitcoin and Ethereum, as well as newer or niche cryptocurrencies. They
may also expect the platform to regularly update and expand its cryptocurrency
offerings to keep up with market trends.

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TARGET MARKET DESCRIPTION

Our target market includes individuals, the unbanked/underbanked population,
smartphone users, crypto owners/users, HNWIs, businesses, entrepreneurs, and
acquirers.

Statistics of Potential Target Customers

Southeast
Africa India United States
Asia
Population 1,430,008,815 686,962,150 1,417,718,575 331,893,760
Median Age 19.7 years28 30.2 years29 28.4 years30 38.8 years31
Average
- - 389.52 USD 7,900 USD
Monthly Salary
Average Yearly
- - 4676.63 USD32 94,700 USD33
Salary

Population by Age

▪ Africa has the youngest population worldwide. On the continent, 40 percent of the
people are below 15 years, and less than four percent are above 65 years.34
▪ In 2021, about 25.69 percent of the Indian population fell into the 0-14 years
category, 67.51 percent into the 15-64 age group, and 6.8 percent were over 65
years of age.35

28 https://www.worldometers.info/world-population/africa-population/
29 https://www.worldometers.info/world-population/south-eastern-asia-
population/#:~:text=South%2DEastern%20Asia%20Population%20(LIVE)&text=The%20current%20population%20of%20South,of%20the%20total%2
0world%20population.
30 https://www.worldometers.info/world-population/india-population/
31 https://censusreporter.org/profiles/01000US-united-states/
32 http://www.salaryexplorer.com/salary-survey.php?loc=100&loctype=1
33
http://www.salaryexplorer.com/salary-survey.php?loc=229&loctype=1
34 https://www.statista.com/statistics/265759/world-population-by-age-and-region/
35 https://www.statista.com/statistics/271315/age-distribution-in-

india/#:~:text=In%202021%2C%20about%2025.69%20percent,over%2065%20years%20of%20age.&text=India%20is%20one%20of%20the,its%20populat
ion%20is%20constantly%20increasing.

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▪ 464,480 people are 15 to 64 years of age in Southeast Asia, while 64,893 are 65+
years old.36

Population by Age, United States37

5% 20-29 Years
11% 17%
30-39 Years
40-49 Years
16% 50-59 Years
18%
60-69 Years
70-79 Years
17%
16%
80+ Years

Unbanked Population

▪ However, despite increased internet usage and tremendous growth, 190 million
Indians are still unbanked. Secure, technology-based banking services are needed
nationwide.38
▪ Over 70% of Southeast Asia’s population is unbanked or underbanked. These
people make up over 70% of the regional population, and the countries that have
the highest combined rates of unbanked and underbanked are Vietnam (79%), the
Philippines (78%), and Indonesia (77%). They also happen to be the region’s most
populous nations.39

36
https://www.population-trends-asiapacific.org/data/sea
37 https://censusreporter.org/profiles/01000US-united-states/
38 https://www.zeebiz.com/economy-infra/news-fintech-sector-is-catalysing-indias-growth-story-among-unbanked-population-224017
39 https://www.nationalgeographic.com/culture/article/paid-content-how-tech-is-empowering-southeast-asias-financially-

underserved#:~:text=Did%20you%20know%20that%20over,%2C%20loans%2C%20or%20adequate%20insurance.

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▪ In 2021, 45 percent of the population in Sub-Saharan Africa did not have a bank
account.40
▪ An estimated 4.5 percent of U.S. households (approximately 5.9 million) were
“unbanked” in 2021, meaning that no one in the household had a checking or
savings account at a bank or credit union.41

Smartphone Users

▪ The number of smartphone users in India was over 748 million in 2020, with the
number of smartphone users worldwide forecasted to exceed to 1.5 billion users in
2040.42
▪ The number of smartphone users in Southeast Asia reached 326.3 million in 2022
and will rise steadily through 2026.43
▪ As of 2021, there were an estimated 420 million smartphone users in Africa,
according to the GSMA's Mobile Economy Africa 2021 report. This represents
around 36% of the total population of the continent.
▪ There are 307 million smartphone users in the United States as of 2022. 85% of
American adults use smartphones.44

Crypto Owners

▪ According to Triple A’s latest crypto ownership data, the African continent now has
an estimated 53 million cryptocurrency owners. This constitutes about 16.5% of the

40 https://www.statista.com/statistics/553180/distribution-of-unbanked-population-by-
region/#:~:text=Distribution%20of%20unbanked%20population%202011%2D2021%2C%20by%20region&text=In%202021%2C%2045%20percent%20of,n
ot%20have%20a%20bank%20account.
41 https://www.fdic.gov/analysis/household-survey/index.html#:~:text=Key%20Findings,-

National%20Unbanked%20Rate&text=An%20estimated%204.5%20percent%20of,a%20bank%20or%20credit%20union.
42
https://www.statista.com/statistics/467163/forecast-of-smartphone-users-in-
india/#:~:text=The%20number%20of%20smartphone%20users,1.5%20billion%20users%20in%2020
43 https://www.insiderintelligence.com/content/rising-smartphone-usage-paves-way-ecommerce-opportunities-southeast-asia
44 https://www.zippia.com/advice/us-smartphone-industry-

statistics/#:~:text=There%20are%20307%20million%20smartphone,than%20116%20million%20iPhone%20users.

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estimated global total of 320 million. Out of all the crypto holders in Africa, Nigeria
accounts for over a third of the total, or just over 22 million.
▪ Globally, Nigeria has the fourth-highest number of crypto owners, while the United
States is the top-ranked country, with 46 million cryptocurrency holders. According
to the data, India and Pakistan are the next top-ranked countries, with 27.4 million
and 26.4 million crypto owners, respectively.45
▪ In 2021, Southeast Asia had over 21 million cryptocurrency users.46

High Net Worth Individuals/HNWIs

▪ There are currently 138,000 HNWIs with investable wealth of USD 1 million or more
living in Africa, along with 328 centi-millionaires worth USD 100 million or more and
23 US-dollar billionaires.47
▪ In the financial year 2020, there were over 278 thousand Indians considered to be
high-net-worth individuals (HNWI).48 In 2021, there were around 13,637 ultra-high-
net-worth individuals (UHNWI) in India. These figures are expected to reach over
nineteen thousand UHNWI by 2026.49
▪ According to the Wealth-X World Ultra Wealth Report 2021, Southeast Asia had an
estimated 28,940 Ultra High Net Worth (UHNW) individuals.
▪ In 2021, there were around about 7.4 million high net worth individuals in US. 50

No. of Businesses

▪ As of 2021, there were an estimated 42 million Small and Medium-sized Enterprises

(SMEs) in Africa, according to the African Development Bank.

45 https://news.bitcoin.com/more-than-a-third-of-africas-53-million-crypto-owners-are-from-nigeria-study-shows/
46 https://techcollectivesea.com/2022/03/07/nft-adoption-southeast-asia/
47
https://www.henleyglobal.com/newsroom/press-releases/africa-wealth-report-
2023#:~:text=There%20are%20currently%20138%2C000%20HNWIs,and%2023%20US%20dollar%20billionaires.
48 https://www.statista.com/statistics/1248220/india-number-of-hnwi/
49 https://www.statista.com/statistics/1248231/india-number-of-uhnwi-and-billionaires/
50
https://www.statista.com/statistics/300464/us-high-net-worth-individuals/

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▪ There are at least 71 million micro, small, and medium-sized enterprises (MSMEs) in
Southeast Asia, based on 2020 data from the Asian Development Bank (ADB). They
account for 97% of all businesses and employ 67% of the working population.51
▪ As of 2022, there were over 1.48 million registered companies in the south Asian
country of India.52
▪ 99.9% of businesses across the US are small businesses.
▪ In fact, there are an astounding 33.2 million small businesses across America. 53

No. of Entrepreneurs

▪ According to the African Development Bank, 22% of Africa's working-age

population is starting businesses. This is the highest entrepreneurship rate in the
world. The entrepreneurial rate ranges from 9% in Algeria to about 40% in Nigeria
and Zambia.54
▪ India has over 76 million entrepreneurs.55
▪ As of 2021, Southeast Asia had an estimated 85 million entrepreneurs, according to
a report by the World Economic Forum.
▪ There are 31 million entrepreneurs in the US.56

Top Acquirers, Worldwide

Banorte Gazprombank
Banco de Sabadell Cardnet Merchant Services
PrivatBank Paysafe57

51 https://seads.adb.org/solutions/realizing-potential-over-71-million-msmes-southeast-asia
52 https://www.statista.com/statistics/1008330/india-number-of-registered-active-companies-by-type/
53 https://www.forbes.com/advisor/business/small-business-

statistics/#:~:text=99.9%25%20of%20businesses%20across%20the%20US%20are%20small%20businesses&text=In%20fact%2C%20there%20are%20an,
million%20small%20businesses%20across%20America.
54 https://mg.co.za/thoughtleader/opinion/2021-12-19-what-does-entrepreneurship-really-mean-in-the-african-

context/#:~:text=According%20to%20the%20African%20Development,40%25%20in%20Nigeria%20and%20Zambia.
55 https://khatabook.com/blog/top-successful-entrepreneurs-in-india/#:~:text=India%20has%20over%2076%20million%20entrepreneurs!
56 https://earthweb.com/entrepreneur-

statistics/#:~:text=There%20are%2031%20million%20entrepreneurs,after%20they%20get%20their%20degrees.
57
https://nilsonreport.com/mention/1715/1link/

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COMPETITIVE ANALYSIS

Crypto.com Venmo CoinPayments

It is a cryptocurrency Venmo is a digital wallet that It is an industry-leading
exchange and digital wallet makes money easier for cryptocurrency payment
platform that was founded everyone, from students to processor and wallet with
Introduction
with the mission of small businesses. online merchant services &
accelerating the world's integration.
transition to cryptocurrency.
▪ Blockchain, ▪ Crypto Buying and ▪ Multi-Coin Wallet
Cryptocurrency, FX, DeFi Selling ▪ Auto Coin Conversion
Wallet, NFTs, and Mobile ▪ Peer-to-Peer Payments ▪ Global Payments
Payments ▪ Debit and Credit Card ▪ Crypto Vault
▪ Buy, sell, and trade 250+ ▪ Money Transfers ▪ Point of Sale (POS)
cryptocurrencies with 20+ ▪ Online Payments ▪ Auto Forward
fiat currencies using bank ▪ Direct Deposit ▪ Shopping Cart Plugins
transfers or credit/debit ▪ Payment Buttons
Offerings/ cards. In addition to ▪ APIs
Features trading, the platform
allows users to earn
interest on their crypto
holdings, borrow against
their cryptocurrency
holdings, and use their
crypto to pay for goods
and services through the
Crypto.com Visa card.

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▪ It has quickly become one ▪ It has developed ▪ It is currently serving

of the most popular excellent customer 100,000+ merchants
platforms for buying, acquisition strategies. globally.
selling, and trading ▪ Venmo transfers are ▪ It has a global presence
cryptocurrencies. typically completed available in over 190
▪ It offers some of the most within seconds, making it countries, making it
Strengths
competitive rates in the a convenient option for accessible to users
industry for buying, those who need to send worldwide.
selling, and trading money quickly. ▪ It has been serving its
cryptocurrencies. ▪ It has earned a good clients for almost 10
▪ It is trusted by more than market reputation. years and has extensive
80M users worldwide. industry experience.

Social Media
High High High
Focus

Mobile App

Mobile App
10M+ 10M+ 100K+
Downloads

Website www.crypto.com www.venmo.com www.coinpayments.net

SWOT ANALYSIS

STRENGTHS
▪ Developing a portal that will revolutionize the way money is managed, spent, and
invested.
▪ Having multiple revenue streams that will generate revenue throughout the year.

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▪ Maintaining complete transparency, flexibility, and integrity in the operations.

▪ Having superb customer support to solve all customer issues immediately.

WEAKNESSES
▪ Lack of funds to start and run the business operations effectively and efficiently.
▪ Need to deploy multiple marketing strategies to create solid business awareness.

OPPORTUNITIES
▪ Growing number of unbanked individuals in India, Southeast Asia, Africa and US.
▪ Rising number of smartphone users and growing awareness among consumers
regarding convenient payment options through mobile wallets.
▪ Technological advancement and rising awareness about blockchain technology
▪ Integrating digital payments, cryptocurrencies, DeFi, and NFTs in a single platform
can provide users with diversified options to manage their digital assets and
participate in various investment, trading, and collecting opportunities, creating
additional revenue streams for the platform.

THREATS
▪ Threats of new entrants
▪ Digital wallet platforms may face technological risks such as software bugs, system
failures, or vulnerabilities that may impact the reliability and performance of the
platform, leading to potential disruptions or user dissatisfaction.

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FINANCIAL PLAN

USE OF PROCEEDS

Costs Amount

Fixed Assets:
App & Platform Development $6,000,000
Furniture, Fixtures & Equipment $250,000

Current Assets:
Cash (Working Capital & Market Liquidity) $46,000,000
Security Deposits $250,000

Expenses:
Registration and Licenses $500,000
Legal Fees $15,000,000
Initial Lease Payments and Deposits, if any $500,000
Stationery and Insurance $2,500,000
Marketing Budget $30,000,000

Assets to Fund $52,500,000

Expenses to Fund $48,500,000
Total Investment $101,000,000

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INCOME STATEMENT
Pro Forma Profit and
Loss Year 1 Year 2 Year 3 Year 4 Year 5
Total Revenue $22,661,185 $45,546,204 $81,794,438 $146,891,059 $263,795,238
Cost of Revenue $3,399,178 $6,831,931 $12,269,166 $22,033,659 $39,569,286
Gross Margin $19,262,008 $38,714,273 $69,525,273 $124,857,401 $224,225,953

Initial Expenses $48,500,000 $0 $0 $0 $0

Operating Expenses:
Payroll $3,555,000 $3,931,200 $4,402,944 $4,931,297 $5,523,053
Professional Fees $3,000,000 $3,225,000 $3,466,875 $3,726,891 $4,006,407
Rent $600,000 $660,000 $726,000 $798,600 $878,460
Utilities $120,000 $129,000 $138,675 $149,076 $160,256
Telephone and Internet
Bills $18,000 $19,350 $20,801 $22,361 $24,038
Office Supplies $6,000 $6,450 $6,934 $7,454 $8,013
Insurances $120,000 $129,000 $138,675 $149,076 $160,256
Misc. Expenses $240,000 $258,000 $277,350 $298,151 $320,513

Total Expenses $56,159,000 $8,358,000 $9,178,254 $10,082,906 $11,080,997

EBTDA -$36,896,992 $30,356,273 $60,347,019 $114,774,495 $213,144,956

Depreciation $312,500 $312,500 $312,500 $312,500 $312,500

Earnings before Tax (EBT) -$37,209,492 $30,043,773 $60,034,519 $114,461,995 $212,832,456

Tax $0 $3,605,253 $7,204,142 $13,735,439 $25,539,895

Net Income / (Loss) -$37,209,492 $26,438,520 $52,830,376 $100,726,556 $187,292,561

Net Income/Revenue -164.20% 58.05% 64.59% 68.57% 71.00%

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Total Revenue

$300,000,000

$250,000,000

$200,000,000

$150,000,000

$100,000,000

$50,000,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

Net Income

$200,000,000

$150,000,000

$100,000,000

$50,000,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

-$50,000,000

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Total Expenses

$60,000,000

$50,000,000

$40,000,000

$30,000,000

$20,000,000

$10,000,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

Monthly Revenue
$30,000,000

$25,000,000

$20,000,000

$15,000,000

$10,000,000

$5,000,000

$0
Mon 13
Mon 10

Mon 16
Mon 19
Mon 22
Mon 25
Mon 28
Mon 31
Mon 34
Mon 37
Mon 40
Mon 43
Mon 46
Mon 49
Mon 52
Mon 55
Mon 58
Mon 1
Mon 4
Mon 7

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Monthly Net Income

$30,000,000

$20,000,000

$10,000,000

$0
Mon 10
Mon 13
Mon 16
Mon 19
Mon 22
Mon 25
Mon 28
Mon 31
Mon 34
Mon 37
Mon 40
Mon 43
Mon 46
Mon 49
Mon 52
Mon 55
Mon 58
Mon 1
Mon 4
Mon 7

-$10,000,000

-$20,000,000

-$30,000,000

-$40,000,000

-$50,000,000

Monthly Total Expenses

$50,000,000

$45,000,000

$40,000,000

$35,000,000

$30,000,000

$25,000,000

$20,000,000

$15,000,000

$10,000,000

$5,000,000

$0
Mon 13
Mon 10

Mon 16
Mon 19
Mon 22
Mon 25
Mon 28
Mon 31
Mon 34
Mon 37
Mon 40
Mon 43
Mon 46
Mon 49
Mon 52
Mon 55
Mon 58
Mon 1
Mon 4
Mon 7

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BALANCE SHEET

Assets and Liabilities Year 1 Year 2 Year 3 Year 4 Year 5

Non-Current Assets
App & Platform
Development $5,700,000 $5,400,000 $5,100,000 $4,800,000 $4,500,000
Furniture, Fixtures &
Equipment $237,500 $225,000 $212,500 $200,000 $187,500

Current Assets
Cash $57,603,008 $84,354,028 $137,496,904 $238,535,960 $426,141,021
Security Deposits $250,000 $250,000 $250,000 $250,000 $250,000

Total Assets $63,790,508 $90,229,028 $143,059,404 $243,785,960 $431,078,521

LIABILITIES AND EQUITY:
LIABILITIES
Accounts Payable
Total Liabilities $0 $0 $0 $0 $0
EQUITY
Capital $101,000,000 $101,000,000 $101,000,000 $101,000,000 $101,000,000
Retained Earnings $0 -$37,209,492 -$10,770,972 $42,059,404 $142,785,960
Profit or loss balance -$37,209,492 $26,438,520 $52,830,376 $100,726,556 $187,292,561
TOTAL EQUITY $63,790,508 $90,229,028 $143,059,404 $243,785,960 $431,078,521
TOTAL LIABILITIES AND
EQUITY $63,790,508 $90,229,028 $143,059,404 $243,785,960 $431,078,521

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Yearly Total Assets

$450,000,000

$400,000,000

$350,000,000

$300,000,000

$250,000,000

$200,000,000

$150,000,000

$100,000,000

$50,000,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

Monthly Total Assets

$450,000,000

$400,000,000

$350,000,000

$300,000,000

$250,000,000

$200,000,000

$150,000,000

$100,000,000

$50,000,000

$0
Mon 49
Mon 10
Mon 13
Mon 16
Mon 19
Mon 22
Mon 25
Mon 28
Mon 31
Mon 34
Mon 37
Mon 40
Mon 43
Mon 46

Mon 52
Mon 55
Mon 58
Mon 1
Mon 4
Mon 7

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BREAK-EVEN ANALYSIS

Particulars Year 1 Year 2 Year 3 Year 4 Year 5

Sales-Revenue $22,661,185 $45,546,204 $81,794,438 $146,891,059 $263,795,238

Variable Cost $3,675,000 $7,665,453 $11,745,761 $18,815,812 $31,223,204

Contribution $18,986,185 $37,880,751 $70,048,677 $128,075,247 $232,572,034

Contribution Margin 83.78% 83.17% 85.64% 87.19% 88.16%

Fixed Cost:
Total Selling General and Admin
Expenses $56,471,500 $8,670,500 $9,490,754 $10,395,406 $11,393,497

Total Fixed Cost

$56,471,500 $8,670,500 $9,490,754 $10,395,406 $11,393,497

Break Even Sales $67,402,225 $10,425,040 $11,082,164 $11,922,617 $12,923,094

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Break Even Sales

$70,000,000

$60,000,000

$50,000,000

$40,000,000

$30,000,000

$20,000,000

$10,000,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

Actual Sales

$300,000,000

$250,000,000

$200,000,000

$150,000,000

$100,000,000

$50,000,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

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CASH FLOW STATEMENT

Particulars Year 1 Year 2 Year 3 Year 4 Year 5

Cash Inflows:
Sales Revenue $22,661,185 $45,546,204 $81,794,438 $146,891,059 $263,795,238
Loan Proceeds / Capital
Injection $101,000,000 $0 $0 $0 $0
Total Inflows $123,661,185 $45,546,204 $81,794,438 $146,891,059 $263,795,238

Cash Outflows:
Initial Expenses $48,500,000 $0 $0 $0 $0
Cost of Revenue $3,399,178 $6,831,931 $12,269,166 $22,033,659 $39,569,286
Payroll $3,555,000 $3,931,200 $4,402,944 $4,931,297 $5,523,053
Professional Fees $3,000,000 $3,225,000 $3,466,875 $3,726,891 $4,006,407
Rent $600,000 $660,000 $726,000 $798,600 $878,460
Utilities $120,000 $129,000 $138,675 $149,076 $160,256
Telephone and Internet
$18,000 $19,350 $20,801 $22,361 $24,038
Bills
Office Supplies $6,000 $6,450 $6,934 $7,454 $8,013
Insurances $120,000 $129,000 $138,675 $149,076 $160,256
Misc. Expenses $240,000 $258,000 $277,350 $298,151 $320,513
Tax $0 $3,605,253 $7,204,142 $13,735,439 $25,539,895
Purchase of Assets $6,500,000 $0 $0 $0 $0

Total Outflows $66,058,178 $18,795,183 $28,651,562 $45,852,004 $76,190,177

Net Cash generated $57,603,008 $26,751,020 $53,142,876 $101,039,056 $187,605,061

Opening Cash Balance $0 $57,603,008 $84,354,028 $137,496,904 $238,535,960

Ending Cash Balance $57,603,008 $84,354,028 $137,496,904 $238,535,960 $426,141,021

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Yearly Cash Balance

$450,000,000

$400,000,000

$350,000,000

$300,000,000

$250,000,000

$200,000,000

$150,000,000

$100,000,000

$50,000,000

$0
Year 1 Year 2 Year 3 Year 4 Year 5

Monthly Cash Balance

$450,000,000

$400,000,000

$350,000,000

$300,000,000

$250,000,000

$200,000,000

$150,000,000

$100,000,000

$50,000,000

$0
Mon 49
Mon 10
Mon 13
Mon 16
Mon 19
Mon 22
Mon 25
Mon 28
Mon 31
Mon 34
Mon 37
Mon 40
Mon 43
Mon 46

Mon 52
Mon 55
Mon 58
Mon 1
Mon 4
Mon 7

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