A double letter notation, of which one letter is definitely a cross-bar theta, with a quarter of the circumference inscribed as a straight line, probably because of the akward writing surface (there is also an additional stroke tangential to the circle of theta - a clear slip of the writing implement. The second letter is possibly an alpha, if the text was written upside down in relation to the upright position of the cup. In that case, the alpha has a broken left hasta, formed of two strokes, and a crossbar slanting to the left. Alternatively, and in my view more likely, that the text was written right side up in relation to to the upright position of the cup, because the slip of the writing implement that affected theta points down to the resting surface of the foot. If this view is correct, then the second letter might be an eta with a slanted crossbar, and an additional bottom bar, giving us the reading ΘΗ. If the sequence is to be read ΑΘ, it is probably an abbreviation of a personal name. These are difficult to interpret, but the inscribed object (drinking cup) suggests that it is an abbreviation of a pesonal name, but it is impossible to say whether it is someone who produced, traded, or acquired the cup. Johnston identified a trademark ΑΘ: Johnston 1979, 108, type 3C, 2006, Both because of the doubts about the identification of alpha, and because of the context of find (unknown or necropolis?), it less likely to be a dedication (abbreviated name of Athena). Yet, the inventory card presents the edition of Krasotkina, Bilimovich, under the supervision of I.I. Tolstoy, dated to February, 1948: Ἀθ(ηνᾷ) - "to Athena." Their date: 6-5th cent. BC. If the fragment comes from the necropolis (excavations of Skadovsky), a dedication is certainly less likely. Finally, it should be said that the possibilities discussed above apply to the scenario when the text is inscribed on a complete pot. This is most likely, but inscription on a sherd cannot be excluded - the text fits well on the fragment relative to the breaks.