Moon Equity Holdings Corp (MONI)

[Steve White]

Here is a quick email with my thoughts on the kiosk thing.

1.) Security is going to be an issue. Especially if they are windows based. There are so many known exploits for windows
systems, it would only be a matter of time before somebody finds a way into the system, either remotely or with physical access.
Once somebody gets access to the system, it could compromise everybody’s account information. It has been shown that
even proprietary voting machines can be hacked easily, nothing is hack proof.

2.) Stability would be a concern as well if it is Windows based. The longer a windows based pc runs without a reboot, the
more the performance and stability declines. Properly configured, it could last a while depending on several factors, but
other operating systems don’t really suffer from that issue. Also, the units will likely require regular updates and maintenance,
just like any electronic platform.

3.) I’m not sure of the appeal either. Most providers they would probably be able to integrate already have pretty easy
payment options (either online, mobile apps, check cashing stores, payment centers, etc.). On top of that, most banks
also let you set up Bill Pay for just about anything. I think most people wouldn’t go to a kiosk to pay a bill, when they can
pay through easier channels.

4.) Limitations. Unless I am missing something, I don’t think they will be able the ability to truly “pay any bill” at the kiosk.
I can see them integrating with standard billing APIs for the major companies, but smaller companies don’t have those
methods (pool cleaners, lawn service, etc.). So if I have to pull out the checkbooks once a month to pay those bills, it
really isn’t that much more effort to cut a couple extra checks (or just pay online like I mentioned earlier).

Will people still use it? Some probably will, but I can’t imagine it being wildly popular. I don’t know if the handful of
“convenience fees” it probably charges would be enough to recoup the cost of the units, development, and maintenance.