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EFTA00293511

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AudioEye: Investment thesis: About six to nine months ago, David Moradi (DM) called told me that he had an interesting private deal that he thought I would be interested in. It would include stock and with warrants attached, but I would have to become restricted in the stock. I immediately told him "say no more, I do not want to know anything about this deal because being restricted in any stock is not an option for Tourmaline". There was no way that we could tell our most important partner Blackstone Senfina that we are restricted in a stock. He did say it was highly unlikely that they would ever trade in the stock, but he understood. Several months later, I went to dinner with DM, as all our dinners go, we mostly talked about his investments. This is when he told me about AudioEye (AEYE). He told me he had been invested in this company for several years and really liked it. He thought that they had a market leading technology that could be used by 5% to 10% of the population that who are deaf or blind. The example he used is how does a blind person book and use UBER? There is no phone number to call. He also said that there are laws in place or coming as part of the Americans with Disabilities Act that would start to force internet sights to provide access with-for these disabilities. Furthermore one of the members of AEYE board was Tony Coelho who was the primary sponsor of Americans with Disabilities Act. DM also said that the management team that used to be in charge at AEYE was very bad. Despite having a great technology they were 19-a-cl poor managers, and DM felt they were running the company into the ground. He used his influence as a large shareholder to get rid of EFTA00293511

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