The seal of the Dugong Institute The Dugong InstituteEpochal Determinations

The Institute announces Epochal Determinations. It does not explain them, date them, or report progress on them.

Prizes are payable in Class-B Promissory Notes, deferred to the Schedule of Problem 1. The Schedule of Problem 1 has not been published.

Problems announced

10

The most recent is Problem 10. The Institute declines to state why the count and the record do not agree.

The problems

The portrait engraved on the Class-B note: a dugong over the meadow

PERHAPS

Class-B Theoretical Asset

Bearer acknowledges the infinite-dimensional ambiguity of this instrument.

Payable to bearer upon demand, provided demand is never made, subject to the non-associative conditions of the Blob Product.

Chief Liquidity Officer · Head of Theoretical Assets · Interim Receiver

The seal of the Institute, struck as a countersignature

All three countersignatures are illegible. The Institute has never been asked to identify them.

Maintenance fee, September — 100 dugongs · Maintenance fee, October — 100 dugongs

The instrument is an asset. It is also a standing charge against the person holding it. The Institute declines to reconcile this.