AYearinReview2018

01/02/18GreetingsfromyourLeoneAssetManagementTeam,In our 2017 “Year in Review” I was proud to report that shares in Leone Asset Management hadappreciated3000%from.01cpershareto.30c.In2018,Iamequallyasproudtoreportthatoursharesappreciated from .30c to a high of $2.45 per share,while closing the year at $1.09 a 263% increase.Onceagain,while this growthandappreciation is awesome,managementbelieveswe remaindeeplyundervalued.Withour business plan in place and executing, andwith additional business verticals inoperation,webelievewewillseeanotheryearoffaroutperformingthemarkets.

Throughout 2018, we have made some significant strides with the launch and branding ofCholesterade®. Weshippedproduct toRiteAid®thissummer,our firstnationalchain,andweaddedseveraladditionalsmallerchainsaswell,suchasWeisMarketsandBig-Y.WearehappytoannouncethatwehavebecomeapprovedvendorswithAlbertsonsandWegmansandanticipateshippingtothesechains and several others during the first quarter of 2019. Needless to say,we are very excited andpleasedtoreceivecontinuedinterestfromthemarketplaceforCholesterade®.Whilethebrandingandtheproductplacementprocessisslowerthananyofuswouldprefer,theendgameisthetarget.Inaworldwhere investors, shareholdersandothersalldesire instantgratification,wecontinue todoourbest and keepour focus on the big picture of owning andbuilding a large national and internationalbrand.

IfeelthemostsignificantpointtotheCholesterade®“BigPicture”isadditionalclinicalstudies.Wewanttodominateourproductcategorybothdomesticallyandinternationally.Inordertodothat,wehavetoprove theproducts efficacy and its results irrefutable. At this time,wehave threeadditional studiestakingplacewithallthreestudiesbeingindependentofeachother.TwostudiesarefiledintheWIRBstudyprotocolandthesestudieswillbepublishedinmedical journals. Thethirdstudy isacasestudybeing run by Dr. Nitza Alvarez, a highly-regarded Cardiologist in “The Villages” Florida. Her studyinvolvesamoredetailed lipidpaneland isbeingperformedwith200womenasparticipants. Wewillbegin receiving data from this study in Mid-January with all three studies be completed in theMarch/Apriltimeframe.

EventhoughwearestillinourrelativeinfancywiththeNational/InternationallaunchofCholesterade®,wearepleasedwithourcurrentgrowth rateandproductplacement. It’svery important to say, thatonce we have our completed Clinical studies wewill be escalating themarketing, branding, productplacementandcustomeracquisitionmodelwitharobustandaggressiveapproach.Asmentionedpreviously,wehavebeendevelopinga separateentity called “ProjectCardio”. ProjectCardioisanon-profitorganizationthatwascreatedtodevelopawarenessandeducationasitpertainstopreventingandremittingcardiovasculardisease.WhileProjectCardioisaneducationandawarenesscommunityitwasdevelopedtoassistinthebrandingofCholesterade®bycreatinganeasytouseandinformative platform for building a very large community to educate people to the problem ofcardiovasculardiseasewhileatthesametimeprovidingapotentialsolution.Iamhappytosaythatwehave received IRS approval and we are now a registered 501 C 3 corporation and can now acceptcharitabledonations.Weanticipatethelaunchingofthecommunityportalinthefirstquarter.

AsthegrowthofourGoEpicHealthsubsidiarycontinuesnicelywiththegrowthofCholesterade®andwith additional product distribution, I would say the most significant change in 2018 was the newinvestor interest inLeoneAssetsoperations inSierraLeone. Priortothisrenewedinterest,theassetsundercontrolofLeonewerenon-performingandhadbeenmorelessdormantforthepast5years.Iamextremelyproudtosaythatduetothenewinvestor interest,and inaveryshorttime,wehavebeenabletoacquiremultipleleasesfor2,350acresofagriculturelandinourFarmicaAfricasubsidiary.WebegantheclearingandplantingonaportionofthevariousacreagelocationsthispastsummerandnowhaveseveralhundredacresofLemongrass,Hibiscus,andSennaCoffeewellunderdevelopment. Thisprocesswillcontinuemuchmorerapidlyin2019astheproperdocumentation,landsurveys,seedbanksandleasesareallcompleted,necessaryequipmenthasbeenpurchasedandthestaffisfullytrainedandoperatingthelandsdaily.Currently,wearecompletingthebuildoutofanewproductionfacilityinKonothatwill be producing essential oil from the Lemongrass andwewill begin construction of a secondfacilityinTonkoliliduringthefirstquarter.Thissecondoperationwillaccommodateverylargeessentialoil and tea production for Lemongrass, Hibiscus and potentially Green Tea. We are currently innegotiationstoacquiremoreacreagetoexpandintoaverylarge-scaleoperationforthedevelopmentofourcurrentproductlineaswellasadditionalproductsincluding;eucalyptus,greentea,hemp,cacaoandothers. Inaddition,LeoneAssetcontrolsa267-acregranitequarrythatisavaluableresourcetothecompany.We have completed all community negotiations, leases, land surveys and geological surveys whichincidentallywas stated by the geologist that our aggregate is the best in the region for constructionmaterials. We have purchased equipment to begin operations and are finalizing all necessarygovernment permitting including EPA, etc., to begin operating the facility, crushing of the stone,supplyinglocalinfrastructureneedsaswellasexportingtootherSub-Saharacountries.Lastly, LeoneAssethas just formedanewsubsidiaryandacquireda lease for thepurposeofmineralexploration. BrightRockMineralswillbeginoperating in the firstquarteronan initialparcelofupto200 acres. The property has proven gold reserves and offers Leone an opportunity for additionaldiversification and cash flow while providing a potential hedge to volatile markets and geopoliticaluncertainties.Lastbutnotleast,wecontinueourworkwithourconsolidatedaccountingandlegal/registrationwork.Ifmarketandcorporateconditionsareoptimal,weintendtofiletheregistrationstatementinAprilafterwereceiveourCholesterade®clinicalstudyresultsandhavebegungeneratingconsistentcashflowfromoperationsinSierraLeone.Wefullyunderstandthedesireofourshareholderstoseethisprocessgetcompletedandwearedoingourbest tobuild the company inamanner thatwill satisfy shareholderneeds over the short-term without compromising or neglecting the company’s long-term vision andsuccess.IwanttoofferaspecialthankyoufromtheLeoneAssetteamforallofyoursupport,andwewishyouaveryhappyandsafeHolidaySeasonandanEpicNewYear.Regards,JamesPriceChairman/CEO