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    Robert Topping

    Research Analyst at Topping Capital

    Robert R. Topping is the Founder and Managing Director of Topping Capital, specializing in hedge fund management, fund of funds, and opportunistic investment strategies shaped by over forty years of experience in institutional sales, venture capital, and portfolio management. He has overseen allocations to distressed real estate totaling $5 million and directed the merger of predecessor funds in 2013, establishing a flexible model targeting early-stage alternative solutions. The firm’s performance history includes navigating high-velocity markets and pivoting independent of economic cycles, though specific company coverage and quantitative returns are not publicly disclosed. Robert holds a BBA from Southern Methodist University and attained the Chartered Financial Analyst (CFA) designation in 1993.

    Robert Topping's questions to Netcapital (NCPL) leadership

    Robert Topping's questions to Netcapital (NCPL) leadership • Q1 2025

    Question

    Asked about the operating burn rate, specifically its relation to the ATS launch, whether launch delays are due to regulatory or technical issues, and for confirmation of the ~$1 million quarterly burn.

    Answer

    The company confirmed the ~$1 million quarterly burn rate. The spending is less about technology development and more about educating regulators, which is a primary factor in the ATS launch timeline. The broker-dealer application is intended to add new revenue streams to offset the burn.

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