Good morning and welcome back to Investor.Coffee, where we bring you a freshly brewed perspective on today’s global and North American financial markets, ensuring you’re well-prepared for the trading day ahead.

A Glance Before the Bell

In Canada, we’re seeing a positive nudge with futures pointing upwards, a ripple effect of the gold price increase to $2,176.61, despite a minor slip of 0.09%. Investors are on the lookout for the domestic GDP data expected to drop later in the week, hoping it will provide further clarity on the economic outlook.

Stateside, Wall Street futures are ticking upwards, with the S&P 500 Index Mini Futures rising by 0.33% to 5,282.50 and DJIA Mini Futures climbing 0.35% to 39,819.00. The anticipation is high for Federal Reserve officials’ commentary this week, especially with a pivotal U.S. inflation report on the horizon.

In Europe, the markets are showing signs of hesitation with Euro STOXX 50 futures slightly down by 2 points at 5,028. Contrastingly, in Asia, Japan’s Nikkei soared by 1.36% to 40,949.22, outshining the Shanghai Composite, which fell below the 3,000-point mark amid a sell-off by foreign investors.

Currency and commodity markets are showing a diverse picture: the U.S. dollar holds steady, while the Japanese yen weakens to a 34-year low against it. Meanwhile, oil prices are under pressure, with U.S. Crude and Brent Crude falling by 0.87% and 0.93% to $80.91 and $85.45, respectively, on the back of surging U.S. stockpiles and static output policies from OPEC+.

U.S. Market Snapshot

Yesterday’s session saw a mild retreat from recent highs. The S&P 500 dropped by 0.28%, the Nasdaq Composite by 0.42%, and the Dow Jones Industrial Average by a slight 0.08%. Despite these pullbacks, the indexes are eyeing a fifth consecutive month of gains, with March’s performances showing increases across the board: the S&P 500 up about 2%, the Nasdaq by 1.4%, and the Dow by 0.7%.

Corporate Watchlist

• Amazon.com, Inc. (NASDAQ: AMZN) faces a $7.8 million penalty in Poland over consumer complaints, highlighting the challenges even retail giants face in maintaining consumer trust.
• Blackstone Inc. (NYSE: BX) and Moderna, Inc. (NASDAQ: MRNA) embark on a $750 million collaboration to push forward the development of mRNA flu vaccines, a significant step for Moderna as it diversifies beyond its COVID-19 vaccine, Spikevax.
• Several regional U.S. banks, including First Commonwealth Financial Corp and M&T Bank Corp, have been downgraded by S&P Global, citing concerns over their commercial real estate exposures.
• Li-Cycle Holdings Corp. (NYSE: LICY) announces a strategic reduction of 17% of its workforce, underscoring the harsh realities of scaling back global ambitions for more focused growth.
• Nio Inc. revises its first-quarter delivery forecast downward to around 30,000 vehicles, signaling demand and competition challenges in the EV sector.
• Robinhood Markets Inc. (NASDAQ: HOOD) unveils a new credit card, aiming to deepen its engagement with personal finance consumers by offering up to 5% cash back on certain purchases.
• Stronghold Digital Mining, Inc. (NASDAQ: SDIG) faces a lawsuit over environmental concerns, a reminder of the environmental scrutiny facing the crypto mining industry.

Global Insights

• China’s industrial firms report an uptick in profits, offering a beacon of hope for the country’s economic recovery amidst ongoing property sector challenges.
• HSBC announces a $1 billion ASEAN Growth Fund to support digital expansion in Southeast Asia, a significant commitment to the region’s growing digital economy.
• Stellantis negotiates voluntary job cuts in Italy as the auto industry shifts gears towards clean energy, a move echoed by **Monte dei Paschi di Siena** with its own workforce adjustments.

Currency and Commodity Corners

The currency market sees the EUR/USD and GBP/USD experiencing minor declines, while the USD/JPY climbs, reflecting a dynamic interplay of global economic signals. Meanwhile, gold’s slight decrease and the dip in oil prices remind investors of the commodity market’s sensitivity to geopolitical and economic news.

Thank you for making *Investor.Coffee* part of your morning routine. Here’s to watching the markets, researching, and making informed decisions in navigating the markets.

Disclaimer: The Investor.Coffee series is for entertainment purposes only and should not be used in making investment decisions. The information cited in the above are excerpts from news stories sent to the Investor.News team that are deemed interesting for our audience. Please do your own due diligence.

In the pre-open market, Canadian futures were down, influenced by sliding copper prices and investor caution ahead of significant domestic economic data. In contrast, U.S. main index futures remained muted, with a week full of major events, including the Federal Reserve’s interest rate decision and key tech earnings, potentially setting Wall Street’s direction following a record-breaking rally. European equities saw a slight rise, bolstered by the strength in the energy sector. Asian markets presented a mixed picture: Chinese stocks fell despite new government curbs on short selling, while Japan’s Nikkei ended higher. The U.S. dollar strengthened in anticipation of the Fed meeting during a week heavy with data, and gold prices increased, buoyed by escalating Middle East tensions. Oil prices also rose, driven by concerns over supply disruptions.

In the world markets, Euro STOXX 50 futures dropped 11 points to 4,644, FTSE futures lost 12 points to 7,620.5, and German DAX futures decreased 58 points to 17,005, all as of 0530 GMT. Japan’s Nikkei share average saw gains, propelled by a jump in oil prices and a weaker yen boosting investor sentiment. The rise in oil prices was partly due to a drone attack on U.S. forces in Jordan, escalating worries over supply disruptions in the Middle East.

This week marked a significant period in the earnings season, with 19% of S&P 500 and Dow Jones Industrial Average companies reporting. Among them, major tech companies like Microsoft Corporation (NASDAQ: MSFT), Alphabet Inc. (NASDAQ: GOOGL), Amazon.com, Inc. (NASDAQ: AMZN), Meta Platforms, Inc. (NASDAQ: META), and Apple Inc. (NASDAQ: APPL), were in the spotlight, especially at a time when these firms have been executing layoffs. The key reports also extended beyond tech, with major companies like The Boeing Company (NYSE: BA), General Motors (NYSE: GM), and Starbucks Corporation (NASDAQ: SBUX) set to reveal their earnings. The pharmaceutical sector also anticipated big news, headlined by Novo Nordisk (NYSE: NVO), amid a surge in market cap due to the boom in weight loss drugs.

Significant developments are expected in the semiconductor industry. President Joe Biden’s administration was reported to be awarding billions in subsidies to top semiconductor companies, including Intel Corp and Taiwan Semiconductor Manufacturing Co, to support new factory construction in the U.S. This move aimed to boost the manufacturing of advanced semiconductors vital for smartphones, artificial intelligence, and weapons systems.

In the corporate world, Microsoft and Apple were in focus. Microsoft’s early lead in artificial intelligence positioned it to potentially surpass Apple in market value over the next five years, a sentiment unanimously agreed upon by 13 institutional investors.

A dispute arose between Spotify Technology SA and Apple Inc, with Spotify criticizing Apple’s new plan to align with the European Union’s Digital Markets Act as “a complete and total farce.”

In Europe and Asia, a Hong Kong court ordered the liquidation of China Evergrande Group, potentially impacting China’s financial markets. A drone attack in Jordan, attributed to Iran-backed militants, targeted U.S. troops, causing casualties. In the aviation sector, a new safety crisis for Boeing and industry-wide disruptions were topics of discussion among airline industry financiers. Additionally, Switzerland’s Holcim announced plans to spin off its North American operations in a significant New York flotation.

United Airlines considered acquiring more Airbus A321neo jets, possibly to compensate for the delayed Boeing 737 MAX 10. Meanwhile, the John Lewis Partnership contemplated significant job cuts, and Ryanair Holdings Plc adjusted its profit forecast due to changes in its sales strategy.

In the automotive sector, Toyota Motor Corp announced the suspension of shipments of certain models, including the Hilux truck and Land Cruiser 300 SUV, due to irregularities in diesel engine certification tests.

From India, the federal government planned to keep its gross market borrowing for 2024/25 close to the current fiscal year’s level. Vedanta, an Indian conglomerate, reported a smaller-than-expected drop in third-quarter profit. The country also witnessed a heightening of sectarian tensions, with a powerful Hindu group claiming several mosques were built over demolished Hindu temples. In a significant collaboration, India’s Tata Group and France’s Airbus agreed to manufacture civilian helicopters together. Lastly, the artificial intelligence startup Krutrim, founded by Ola Electric’s CEO Bhavish Aggarwal, raised $50 million in its first funding round, reaching a valuation of $1 billion.

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Grab your favorite brew as we navigate through the tumultuous yet intriguing world of market dynamics.

In Canada, the markets are embodying an aura of watchful waiting, disturbed by declining oil and gold prices. Investors are on high alert, eager for the release of domestic trade balance figures that will provide a pulse check on the national economy. This anticipation is heightened by the shaky performance of U.S. stock index futures and the slip in European shares, notably in the energy sector. Over in Japan, the Nikkei index succumbed to these global market vibrations, ending the day in the red.

The labor scene in Canada is witnessing a harmonious development as Unifor members approve a new contract with Stellantis N.V. (NYSE: STLA), Chrysler’s parent company. This accord is a shining example of the progress that can be made when unions and corporations strike a chord of cooperation, even amid economic uncertainties.

In an unexpected twist, Canada’s telecom regulator has introduced an interim measure compelling major phone companies in Ontario and Quebec to offer access to their infrastructure. This move is designed to stir up competition and potentially reduce internet service prices, setting a new tempo in the telecom sector’s melody.

Globally, markets are enacting a complex dance, with European indicators like the Euro STOXX 50, FTSE, and German DAX futures all reflecting subdued activity in early trading. Asian markets, after a recent uplift, have adjusted to a mix of Chinese trade data and the cautious optimism of an end to the surge in global interest rates.

Alphabet Inc. (Nasdaq: GOOGL) is bracing for a significant legal confrontation as “Fortnite” creator Epic Games challenges the tech giant’s control over the Play Store, a battle that could redefine the landscape of app distribution and pricing.

Amazon.com, Inc. (Nasdaq: AMZN) is facing labor dissonance in the UK, where workers at an English warehouse are contesting pay, potentially leading to disruptions on the critical shopping day of Black Friday. Despite this, Amazon’s overall wage structure in the UK is expected to improve incrementally over the coming year.

Celanese Corporation (NYSE: CE) has orchestrated a successful strategy through cost-reduction efforts, culminating in profits that have outperformed expectations, alongside the announcement of Chuck Kyrish as the new CFO.

Coterra Energy Inc. (NYSE: CTRA) has exceeded profit forecasts, thanks to a combination of increased production and strong pricing, striking a chord with investors.

Diamondback Energy, Inc. (NASDAQ: FANG) has revealed itself as a predator rather than prey in the shale sector, signaling ambitious growth plans and an uptick in its production outlook.

On the other hand, D.R. Horton, Inc. (NYSE: DHI) has encountered a minor setback with a dip in quarterly profits, as the crescendo of mortgage rates and housing prices creates a dissonant tune for the housing market’s affordability.

FedEx Corp. (NYSE: FDX) is currently under legal scrutiny as a federal appeal investigates a substantial jury verdict regarding allegations of discriminatory practices, which may reset the balance in corporate responsibility.

The automotive industry is facing its own challenges, with recent safety tests uncovering potential vulnerabilities for rear-seat passengers in several major pickup trucks, introducing a disharmonious note to manufacturers’ safety records.

On the corporate life cycle stage, General Dynamics (NYSE: GD) and Stellantis have both seen new agreements with the UAW, indicating a period of labor harmony.

General Electric’s (NYSE: GE) aerospace division has agreed to a significant settlement over claims related to subpar inspections and part standards, a discordant note in its government contract performance.

General Motors (NYSE: GM) has taken a strategic pause in its autonomous vehicle production, possibly a thoughtful intermission in its long-term transport strategy.

Lastly, Kinder Morgan, Inc. (NYSE: KMI) has orchestrated a significant move with its acquisition of assets from NextEra Energy Partners, LP (NYSE: NEP) in a deal worth $1.82 billion, a strategic high note in its expansionary score.

As the markets continue to play their symphonies, we’ll be here to interpret the scores and guide you through the crescendos and diminuendos of the economic concerto. Thank you for tuning in to InvestorCoffee for your market insights.

As September draws to a close, the U.S. equities market has experienced some turbulence. Following a challenging Tuesday, U.S. futures seem to be ticking upwards despite all three major indices, including the Dow, witnessing significant drops. The Dow notably had its worst performance since March. The market’s unsteady temperament could be attributed to several factors. August saw a steep decline in new home sales, Amazon found itself in the midst of a significant antitrust lawsuit, and the Conference Board’s consumer confidence index dipped more than anticipated.

In corporate news, Alphabet Inc. (NASDAQ: GOOG) is in the spotlight as PwC Australia admitted to providing several clients with confidential information from Australian government tax briefings. While it was previously known that Google was one of these clients, it’s now revealed that there were others, though their identities remain undisclosed due to confidentiality concerns.

Amazon.com, Inc. (NASDAQ: AMZN) is also under scrutiny. Legal challenges are amassing against the online retail titan after the U.S. Federal Trade Commission accused it of abusing its market position. The potential impact of these allegations on Amazon’s advertising business is causing some unease among the platform’s merchants.

The Chemours Co. (NYSE: CC), a U.S. chemical company, has been deemed responsible for environmental damages in the Netherlands due to the usage of PFAS chemicals, known as “forever chemicals” for their enduring nature. In response to the court ruling, Chemours is currently evaluating the decision and discussing actionable measures with relevant stakeholders.

Pharmaceutical giant Eli Lilly and Co. (NYSE: LLY) successfully persuaded a Massachusetts federal judge to overturn a $176.5 million verdict in favor of Teva Pharmaceutical. The dispute revolved around the alleged patent infringement by Lilly’s migraine drug, Emgality.

Political tensions seem to be brewing for Ford Motor Company (NYSE: F) as U.S. House of Representatives committees demand transparency over the company’s partnership with Chinese battery manufacturer CATL.

In banking, JPMorgan Chase & Co. (NYSE: JPM) has initiated a leadership reshuffle in its investment banking division, introducing a new head for its North American operations, as the current leader prepares to retire.

NextEra Energy, Inc. (NYSE: NEE) and Chesapeake Utilities Corporation (NYSE: CPK) are set to enter a deal worth $923 million. The agreement involves the sale of Florida City Gas, which boasts approximately 120,000 residential and commercial natural gas customers.

In the pharmaceutical domain, Pfizer Inc. (NYSE: PFE) is ramping up its antiviral COVID-19 treatment, Paxlovid, distribution, and is awaiting approval for its commercial market release.

Retail giant Target Corp. (NYSE: TGT) has announced the closure of nine of its stores across multiple states due to rising concerns over theft and organized retail crime, emphasizing the growing challenge retailers face.

Tesla Inc. (NASDAQ: TSLA) continues its innovation streak, focusing on upgrading its “gigacasting” technology, aiming to mold almost all vehicle underbody parts in one cohesive unit.

Lastly, Wells Fargo & Co. (NYSE: WFC) is venturing into a partnership with private equity firm Centerbridge Partners. Together, they aim to launch a fund capable of lending over $5 billion to middle-market companies in North America.

Investor.Coffee Daily Updates are intended to offer a rapid bird’s eye view of the business world today and allow you to enjoy your coffee room breaks.

Fears of artificial intelligence in androids, massive computer facilities, and other devices taking over the world are not stopping investors from searching for ways to make prudent investments.

From AI and automation to robotics, nearly every industry is undergoing disruption. Over the past few months, the world has witnessed significant advancements in AI technology, such as the release of chatbots and image, art, and music generators for public use.

Generative Artificial Intelligence

Generative Artificial Intelligence (Gen AI) is a branch of artificial intelligence that uses machine learning algorithms to create new and original content, such as computer code, images, music, speech, or text. It works by using a training algorithm and ‘learning’ on a large dataset of examples, then using that training to generate new content that is similar to the original examples.

Most recently, the chatter around Gen AI has been brought to the forefront by the web-based Chat Generative Pre-trained Transformer, or as it is more widely known, ChatGPT, from OpenAI, L.L.C. OpenAI is a privately-held company with investors including Microsoft Corporation (Nasdaq: MSFT), Khosla Ventures, Y Combinator, and Guangzhou Cornerstone Asset Management Co.

It has many applications and benefits for various industries, such as entertainment, education, finance, health care, marketing, media, pharmaceuticals, and security.

Some of the leading public companies by market cap that operate in the broader AI and Gen AI industry are:

Microsoft Corporation (Nasdaq: MSFT) – Market Cap US$2.20 Trillion

Microsoft offers cloud computing, software, and hardware products and services, such as Microsoft Azure and Microsoft Cognitive Services. Microsoft’s Azure AI is a collection of AI services that offers developers and data scientists the ability to build and deploy their own AI solutions using high-quality vision, speech, language, and decision-making AI models through simple API calls, and create their own machine learning models using familiar tools and open-source frameworks

Alphabet Inc. (Nasdaq: GOOGL) – Market Cap US$1.32 Trillion

Alphabet, best known for its Google search engine, provides internet-related products and services, such as Google Cloud and Google AI. Google Cloud recently announced generative AI offerings that let developers tap into Google’s foundation models, search expertise, and conversational AI technologies to create enterprise-grade generative AI applications. Google also offers its own Bard chatbot.

Amazon.com, Inc. (Nasdaq: AMZN) – Market Cap US$1.08 Trillion

Amazon operates e-commerce, cloud computing, and artificial intelligence platforms, such as Amazon Web Services (AWS) and Amazon Alexa, and offers pre-trained AI Services to integrate into customer applications and workflows.  

NVIDIA Corporation (Nasdaq: NVDA) – Market Cap US$664.7 Billion

NVIDIA produces graphics processing units (GPUs) and artificial intelligence platforms, such as NVIDIA Omniverse and NVIDIA Clara. According to a report by research firm TrendForce, ChatGPT will require as many as 30,000 NVIDIA GPUs to operate, which costs between $10,000 and $15,000 for each GPU. As AI becomes more mainstream, NVIDIA looks to benefit from the GPU demand.

Meta Platforms, Inc. (Nasdaq: META) – Market Cap US$537.2 Billion

Meta operates social media platforms and applications, such as Facebook, Instagram, and WhatsApp. It also develops artificial intelligence products and services, such as Facebook AI Research and Facebook Reality Labs.

Adobe Inc. (Nasdaq: ADBE) – Market Cap US$116.5 Billion

Adobe provides software products and services for digital media creation and marketing, such as Adobe Creative Cloud and Adobe Sensei. Adobe Sensei is an artificial intelligence and machine learning technology developed by Adobe that powers its Creative Cloud suite of applications and uses AI and machine learning to automate tasks such as organizing, editing, and producing content.

International Business Machines Corporation (NYSE: IBM) – Market Cap US$114.3 Billion

IBM provides IT solutions and services, such as IBM Cloud and IBM Watson. It also develops artificial intelligence products and services, such as IBM Project Debater and IBM AutoAI. In 2011, IBM’s supercomputer Watson beat competitors on the popular game show Jeopardy!   

Final thoughts

The AI field is growing rapidly and has numerous applications in various industries. Major players offer a range of AI products and services, from cloud computing to chatbots and image, art, and music generators. NVIDIA, in particular, is poised to benefit from the increasing demand for GPUs as AI becomes more mainstream. Despite concerns about AI taking over the world, investors are eagerly searching for ways to invest in this space.

If you are a current investor or an interested party in Rritual Superfoods Inc. (CSE: RSF | OTCQB: RRSFF) then you have no right to say you don’t know what is going on with this company. I don’t think I’ve ever seen a company issue as many press releases over a 2 month period as Rritual. By my count, they have produced 17 press releases and one quarterly result since we last wrote about the Company on InvestorIntel on May 26^th. The exciting thing is that most of these press releases are about sales and marketing milestones being achieved. Sure there is a couple of boring ones in there like Rritual Superfoods Inc. is pleased to announce that it will present at the Lytham Partners Summer 2021 Investor Conference, which is notable and may be of interest to some but not me. I’m a numbers guy, so news about May purchase orders and all the product launches and shipment deliveries is what I’m looking at.

As noted above, on May 28^th Rritual released quarterly results for the nine months ending March 31, 2021. Unless you like reading the MD&A there isn’t much to review here primarily because the Company was still ramping up its production capability, building out the management team and lining up all the distribution opportunities for its products. Revenue of $721 for the quarter isn’t very telling of where Rritual is headed, and no I haven’t missed any zeroes on the end of that number. For example, March 30^th was when it was announced that Rite Aid stores throughout the USA would be the first national retail rollout occurring in Q2 and Q3. So we’re going to have to wait until at least Q2 numbers or possibly Q3 to see results flow through to the bottom line.

In the meantime, we can look at what Rritual has been up to over the last two months to get a flavor for what those future results might look like. Don’t worry, I’m not going to discuss all 17 press releases but there are a few that have attracted my attention. For starters, on Jun 8^th the Company stated that it had already surpassed its retail distribution targets for the end of 2021, exceeding 2,400 retail locations and 10,000 points of distribution. This has led to revised targets, based on the current lineup, to reach 6,000 stores and 20,000 points of distribution this year. That’s an impressive step change in yearend targeted distribution, and let’s not forget that there is also product development occurring to enhance and expand the existing product lineup.

Then there’s the May purchase orders announced on June 10^th, which told us that the Company has received purchase orders totaling CAD $306,000 in the last week of May. May was effectively the first month of full-scale commercial operations so one can expect that this is a starting point and that as retail and distribution points expand the numbers could get pretty big. According to Rritual, based on the guidance of 6,000 stores and 20,000 points by year end, they expect to achieve a monthly run rate in the United States of CAD $1,300,000 achieving approximately 31-42% blended margins. By now you might be starting to get a feel for why I suggested ignoring the last quarterly results and its paltry $721 in revenue.

And now a little name dropping to really grab your attention – Amazon. On June 17^th the Company announced the full line of Rritual products have passed the approval process for listing on the Company’s Amazon Store in the USA, planned for the end of June. Mr. David Kerbel, Rritual CEO is quoted as saying “Rritual’s multi-stage targeted launch is focused primarily on ‘being where the customers are,’ and no storefront in our world can help us more than Amazon to achieve that objective.” That news was followed up on June 25^th that the full line of Rritual products have successfully been delivered to the Amazon Fulfillment Center and will be available to customers. I’m not sure if Amazon only counts as 1 distribution point or if it’s even included in the retail location count but this news in itself could be transformational for the Company.

These are what I consider to be highlights of the last two months but I’m not a retail expert by any stretch of the imagination. Other news includes the launching of its premium brand of functional superfoods in CVS Stores nationwide, and the latest product innovation plant-based collagen enhancers to Create “Beauty from Within” looking to replace animal based collagen enhancers. Maybe these are even more impactful than what I’ve identified. Regardless, the next two quarters look to be very exciting for Rritual Superfoods and the quarterly results could be hard to ignore going forward.

Disclosure: The author is long Rritual Superfoods Inc. (CSE: RSF).

“That kind of surveillance is basically the business model of most of the tech giants. That Wall Street Journal story is interesting because it shows how Facebook is actively cultivating relationships with traditional banks and hoping to get its hands on your financial information. There are a couple of goals that they have there. Of course, they are not alone; Google and Amazon are trying to get into that business as well, which is first and foremost to use financial information that has been revealed to them to target ads.” States James Slaby, Senior Manager, Product Marketing at Acronis, in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: Your publicist wrote me a note with; The Wall Street Journal is reporting that there has been a bigger battle between Facebook and financial firms, bigger than the public ever knew. Okay, let us start with that James. What is the big thing that we should all be worried about? 

James Slaby: As you all know companies like Facebook and Google are in the business of harvesting information about you that you, kind of, willingly give up in return for the services, like search and the ability to share information with your social networking friends. They take that information about you and sell it to their advertisers who use it to cleverly target ads at you to get you to buy stuff or influence your political views and so forth.

Tracy Weslosky: You know we work in the stock market. There is a lot of websites where I tell people all the time, do not go to information sites where you provide your username and password because they are creating algorithms and what you are in to and what shares you want to buy, what stocks you are interested in. We are big advocates for personal privacy. Can you tell me if I am correct or am I just creating fear where there should not be any? 

James Slaby: No, you are absolutely correct. That kind of surveillance is basically the business model of most of the tech giants. That Wall Street Journal story is interesting because it shows how Facebook is actively cultivating relationships with traditional banks and hoping to get its hands on your financial information. There are a couple of goals that they have there. Of course, they are not alone; Google and Amazon are trying to get into that business as well, which is first and foremost to use financial information that has been revealed to them to target ads. Increasingly also they want to get into the traditional banking business and effectively go after things like the payment system, lending, providing financial information to you, fraud alerts, and so forth.

Tracy Weslosky: I will tell you, what you do is fascinating. We could literally have you on once a month. Because I want to jump to one of the rumors we had here at InvestorIntel a couple of months back was, Tracy do not run any stories with cryptocurrency in the title or put any emails to your friends with that you are going to have an audit with your taxes at the end of the year. This is the type of fearmongering that is happening out there. I know you actually can speak to cryptocurrency as well. Can you comment on this for us?

James Slaby: Certainly. There are a couple of things that are fascinating about cryptocurrency. One is that it is making inroads as an alternative to traditional fiat currencies, but if you are not familiar with it, it is basically an online currency that uses blockchain technology. Think about it as very complicated cryptographic mathematics to be able to verify the financial exchanges…to access the complete interview, click here