<div dir="ltr"><p class="MsoNormal" style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin:0in;font-size:12pt;font-family:Calibri,sans-serif">Cash position continued to decrease
slowly to $237,209. Accumulated surplus increased slightly to $182,652. For
context, this number has been relatively stable for the last 3 months. Prior to
that, there was a slow downward trend.</p>

<p class="MsoNormal" style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin:0in;font-size:12pt;font-family:Calibri,sans-serif"> </p>

<p class="MsoNormal" style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin:0in;font-size:12pt;font-family:Calibri,sans-serif">Net income was $1,970, the only
positive monthly income of the year. This is the result of the timing of
expenses and “housekeeping” on the part of the Linux Foundation and nothing
more consequential. Net income YTD is a loss of $49,305 against a full-year
plan of a loss of $49,192. This is clearly concerning and something we need to
watch carefully.</p>

<p class="MsoNormal" style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin:0in;font-size:12pt;font-family:Calibri,sans-serif"> </p>

<p class="MsoNormal" style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin:0in;font-size:12pt;font-family:Calibri,sans-serif">We are continuing to see
over-budget expenses for the Executive Director. As explained before, the ED is
more active than in 2019 which is the basis for the 2020 budget.</p>

<p class="MsoNormal" style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin:0in;font-size:12pt;font-family:Calibri,sans-serif"> </p>

<p class="MsoNormal" style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin:0in;font-size:12pt;font-family:Calibri,sans-serif">Comments/questions are more than
welcome, whether to me or the group. I’ll send the actual report to anyone who
wants to see it.</p>

<p class="MsoNormal" style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin:0in;font-size:12pt;font-family:Calibri,sans-serif"> </p>

<p class="MsoNormal" style="background-image:initial;background-position:initial;background-size:initial;background-repeat:initial;background-origin:initial;background-clip:initial;margin:0in;font-size:12pt;font-family:Calibri,sans-serif">Thanks, Jim, Treasurer</p></div>