AssetOwl Limited announced the signing of its first Victorian agency onto its Pirsee (formerly inspector360) property inspection platform. Achieving this milestone heralds the entry of AssetOwl into Victoria. The agreement is subject to trial use which is expected to take longer to complete than normal due to the current COVID restrictions in Victoria. AssetOwl has a history of working with the Victorian real estate industry as it confronts the challenges of COVID. Last year the company entered into a nine month partnership with the Real Estate Institute of Victoria (REIV) to assist in providing Victorian real estate agents with remote routine inspection and virtual tour for sale capabilities through its inspector360 (now `Pirsee') platform. As part of the partnership, REIV members were offered free access to inspector360's remote routine inspections and property marketing virtual tours modules. The Victorian entry is a significant milestone for the company. Residential property inspections are highly regulated at state level, which means that each state represents a discrete market for rental inspections. It is estimated that 645,000 of Victorian households rent privately, almost three times the size of the West Australian private rental market. Initial conversations with Victorian agencies have been very positive, with particular interest in Pirsee's remote inspection feature. To the Company's knowledge, Pirsee is the only product available on-market which allows property managers to direct inspections remotely through a video call, whilst also being able to capture high resolution photos and review them in real time. The name of the customer is Area Specialist. Area Specialist has signed a license agreement with AssetOwl Technologies Ltd. on the Company's current standard contracting terms. These terms include: provision of an initial one-month trial period. During the trial period the customer trials the software within their business and brings a number of properties on to the platform. Trials typically continue until the customer is satisfied with the adoption of the pirsee platform or they advise that they wish to cease using the pirsee platform. Upon successful completion of the trial period, the contract is `month to month' which can be terminated with 30 days' notice. The obligation to pay the licence fee commences from successful completion of the trial. A standard licence fee is charged of between $80 and $500/month depending on the number of properties under management. The fee schedule is published on the pirsee website. The contract announced is not financially material to AssetOwl. Its importance is that it represents the Company's entry into the Victorian market.