Exhibit D · Provenance
An investment memo drafted only from source documents, where every figure cites its page, and the tool grades its own provenance before you read a word.
AI writes a plausible investment memo in seconds. The problem is the next hour, when an associate re-checks every figure against the data room because nobody can tell which numbers came from the accounts and which the model invented.
That verification cost is why most AI drafting tools quietly stop being used around week three. The draft was never the expensive part.
The tool drafts from source documents only, cites the exact page behind every figure, and then grades its own output. Two uncited claims surfaced by name means you check two sentences instead of twenty-six.
Three steps, and the third is the one that matters.
It runs offline with no API key and no model in the loop. A model asked to grade its own homework can be argued out of a failure; a parser that looks for a citation and checks whether the passage exists cannot. Making verification dumber made it trustworthy.
A citation can only be checked if the thing it points at has an address. Turning every page into a numbered passage tagged with its document and page number is what makes the rest mechanically verifiable.
A coverage percentage on its own invites you to shrug. Printing the exact sentences that lack evidence turns a score into a two-minute task.
Verification catches a figure with no citation at all, a citation pointing at a passage that does not exist, and a claim asserted without evidence. They fail differently and are detected differently, which is why a single confidence score would hide more than it reveals.