Fair. An 80% drawdown after 18 months is tough for anyone, but conviction would have allowed you to buy down your cost basis — I did. Listed Japan prefs are still held up by Japanese exchange (TSE) rules. According to the company, TSE wants a longer record of recurring cash flow before a perpetual pref can list. Class B is already out and paying. The TSE listing is the piece that has not yet cleared. That delay is real. So is the last BTC add sitting in June. They usually announce purchases quarterly though. Expect another announcement after the end of the current quarter. Superplanet is coming in the US by end of this year. US prefs will follow and any BTC acquired will flow to Metaplanet. What I won’t do is treat the company as a fraud because the PR was bad. August and September cut the option pile the self-identified digital prosecutors were upset about despite all the information being publicly available. The company caved to improve their PR. Management-wise that was the right thing to do, but there was no fraud—all info was public and the coins are still there with many more on the way. The operating business is strong and growing stronger.