I will now hand over the mic to Brain+ to start the presentation. Your line is now open. Good afternoon, everyone. Thank you for taking the time to join us for this call. I'm very pleased to be here today together with Devika Wood, our new Chief Commercial Officer, with Hanne, our CFO, that many of you know already, and our even newer brand-new Senior Vice President of Partnerships, Fiona Costello. And so today is a super exciting day because we'll be really diving into the upcoming UK launch, and particularly our go-to-market strategy around that, which Devika and Fiona will be talking a lot about. We will also, as you know, be talking about the half year report that came out last week, and Hanne will be going over some of those results and talk about the funding and financial plan as well. But for those of you who are unfamiliar, I will give a very, very brief flyby intro to Brain+, so we can spend the majority of time on the commercial aspects and the financial aspects. So Brain+ is addressing the massive unmet clinical need within dementia, and we are focusing on a therapy called cognitive stimulation therapy, which is today the world's leading non-drug therapy out there. Something that really has a clinical benefit in terms of improving cognition for patients, and that is something that corresponds to a six-month delay in cognitive decline, which, as you can imagine, has a huge impact on not only the quality of life of people with dementia, but also on the cost of care for the entire healthcare system. Now, the issue with this therapy is that it has a number of barriers that it's facing in terms of its adoption today. It's a therapy that's being delivered in the clinic. There's a lack of awareness, there's a lack of standardization. Currently, it's very time-consuming because it requires therapists to spend a lot of time preparing for it to actually deliver it, it's being delivered by therapists in the clinic today, and there is a shortage of healthcare professionals out there. So we are solving that by providing CST in a health tech solution and online mobile platform, which allows all of this to be standardized, and it is basically saving the therapist a lot of time in preparation and delivery. It is helping standardize the delivery, so it's always in the same high quality, something that is also currently an issue with the delivery of CST, and that makes this therapy, all of a sudden, much more cost-efficient, much more scalable, and this is exactly what is needed out there in the healthcare systems that we're addressing, as you will hear more about from, Devika and Fiona. We recently launched our second version of the CST Assistant product, which is the first product delivering this therapy, to therapists as a tool for the therapist, and that is the same product that we will now be launching into the UK at the end of this month. So we have come very far this year. We have met our plans and goals up until this point, and the main goal is to launch into the UK market and to close our first sales there. So we're basically on track with this plan. Some of the most recent news that were big steps on this journey was that we achieved compliance with our Clinical Evaluation Report, which is a substantial and important part of our medical device software certification. Our CST Assistant product will be certified as a medical device as we go into the U.K. market, and this is something that really sets it apart from what is out there for dementia today, where we will be the first of a kind to deliver Cognitive Stimulation Therapy as a medical device, thereby also be able to claim clinical benefits, to claim safety, and also show cost efficiency and have that as part of our claims. We're really well on track to this launch at the end of the month. Today, we also published the final results of our U.K. usability trial that came out, so that's on the news today. If you haven't seen that yet, you can go in and check that out in more detail. I just want to share one quote from there to give you a little bit of a flavor of what came out of that. But the next, like, short-term steps in the go-to-market here is that we will do the full medical device certification of the CST Assistant by the end of this month, and we will then also launch into the UK market at the end of this month. Also on the roadmap is the TO 4 warrant exercise that Hanne will be talking more about. And finally, as we release, we will be closing first sales in the fourth quarter, something that Devika and Fiona can talk much more about. But before I hand over the mic, just wanna share a little quote from the Age UK study. This is from the memory loss advisor, Lucy, at the Age UK Trafford. Age UK is, has sites all over England, and one of the sites that we were doing this study in was in Trafford. So Age UK Trafford have collaborated with Brain+ for the past six months. The CST provided by Brain+ is an online system that can be altered by the facilitator to suit the group, resources, and environment. This method has suited our services, our service users who have a diagnosis of mild cognitive impairment, which is an early stage of dementia, before you get the full dementia diagnosis, or have a recent dementia diagnosis. A theme is set for each session, for example, orientation, using money, or nostalgia towards your childhood, and the participants complete mental and physical exercises as well as a main activity. As one participant said, "I have really enjoyed today, but I have worked on my memory, my emotions, mental and physical health, too." So this is just one of many of the qualitative gatherings that we came out of that study. We also confirmed a 50% time saving across the board for preparation of CST and many other things. Again, I encourage you to read the news publication that came out today. With that said, now we're getting to the more exciting part, which is diving into the commercial strategy. So here I will hand it over to Devika to take us through this. Perfect. Thank you. It's a real pleasure to be introduced today. My name is Devika. I'm the new Chief Commercial Officer at Brain+. I've worked in the U.K. digital health space for a number of years, predominantly across the aged care sector, where I launched my own business called Vida, which was akin to the Uber for care. So the pretense behind the business that I launched was to match carers more appropriately to people in their own homes, to help them live longer at home, rather than putting them into care homes. We wanted to build a digital solution that would enable us to scale the matching of carers to individuals and better monitor people in their homes using predictive analytics. I was brought into this mission as a young carer for my grandma for 12 years. So sadly, my grandmother got dementia when I was ten, and I became one of her informal carers until she passed away when I was in my early twenties. So this mission of caring for people with dementia, supporting people to live happier and healthier lives as they age, has always been something that is truly, deeply ingrained in me. So I was really thrilled when I got the opportunity to join the Brain+ team, to support their mission to grow into the UK. I'll now go in and talk a little bit about the UK market overview. We'll then talk a little bit about how we're aligning the UK NHS dementia strategies to support our growth into the market. We'll touch on a number of the different dementia care funding streams that exist. Just wanting to highlight that there is a real push and a drive, especially from the Labour government at the moment, to fund better care for dementia patients, especially bringing solutions that are scalable to really deal with the aging population that we are coming up against. And we'll talk a little bit about what our UK market access strategy is. Can I get the next page? Thank you so much. So, Kim has spoken a little bit about the Cognitive Stimulation Therapy and obviously what this actually is, so I won't go into too much detail about this. But we've been doing a lot of work over the last few months prior to me joining, to set the scene for the UK market growth. We had a brilliant partner in the UK called Quiddity, who supported us in doing a lot of market mapping and product-market fit to enable us to understand where we should target first and foremost. This has been instrumental for us because it's enabled us to really see a lot of the data that we needed to highlight the areas across the NHS where we could really be targeting our solution. So just to kind of bring a bit of, color or flavor to why the UK market is so pivotal and important for us. So CST obviously has clinical benefits. It's recommended for global implementation by the World Alzheimer's Association, and it is adopted in more than thirty-nine countries. I do actually believe CST therapy is probably one of the most best-kept secrets for dementia care. And I think that there is a huge potential for it. In the UK, predominantly being the fact that it is, the only non-drug dementia therapy that's recommended for national implementation by the National Institute for Health and Care Excellence, or the NICE guidelines. And this is really instrumental for us because it means that we are already servicing CST therapy across multiple NHS trusts in an analog form, in a traditional form, and therefore, it gives us a huge opportunity to target these existing contracts with our digital CST Assistant. A bit of a background, I suppose, onto the UK market and why we think that there is such a real potential for this. Having worked in the market myself, there is a huge propensity and drive towards supporting people in the aged care sector who have dementia to live longer and happier lives. We have a huge aging population in the U.K., but needless to say, of that number, around 1 million people currently have dementia, and the projections are for over 1 million people by 2025, and that's going up to 1.6 million by 2050. The cost of this to the U.K. society is around GBP 35 billion per year, and this equates to around 32,000 per dementia sufferer, and it's also the number one cause for death in women since 2011, and so there really needs to be a drive towards adopting better solutions for supporting people with dementia. Currently, the treatment options are barely there, very thin. And we'll talk more about the things that we've been seeing around the drug Leqembi coming onto the market, and how CST therapy is actually being seen as something that could be better, a cheaper and more scalable solution. Next page. I'll hand over to my colleague, Fiona, to talk a bit more about the kind of national strategies and the NHS priority as well. ... Good afternoon, everybody. My name is Fiona, and as Kim and Dev indicated, I've joined very recently. Very recently being last week. But along with Devika, have also helped to kind of think about what the market opportunity is within the UK. With my background of sort of 16 years within the NHS, working for a range of different providers, private, the NHS itself, and nonprofit, and about the last five or six years in digital health. It's always really important with a go-to-market strategy, that we can pivot and anchor in national strategic priorities, so that we can get decision makers and funders to listen. And there's been some really significant strides, I would say, in that space, for various different reasons that are probably too complex and a little bit political for this call, but suffice to say, it's garnering national attention. So in 2015, there was the Prime Minister's Challenge on Dementia, which was launched and set out over 50 commitments to make England the world leader in dementia care, research, and awareness by 2020. What's really positive is that despite the change in government, that commitment and that drive to enable England to become a world leader was similarly reflected in the Labour manifesto prior to being elected into government, with aspirations to make us a global leader. Which means, obviously, that we then have to generate positive outcomes. I think that the NICE recommendation was really interesting, which we'll come onto shortly. But in addition to the Prime Minister's Challenge on Dementia, there has also been Living Well with Dementia, so a National Dementia Strategy. That has guided practice in the U.K. since 2009, and continues to be a reference point. The Conservatives, prior to losing the last election, had identified dementia as one of the major conditions in the Major Conditions Strategy for England, that needed to be addressed. You will be, maybe aware that we have some pretty significant systemic challenges facing the NHS currently, relating to demand management, capacity planning, resource optimization. And the fact that dementia has been identified as a Major Conditions Strategy that spans health and social care means that there's a lot to go at from a macro perspective, in terms of the benefit of Brain+ coming in as a digital alternative, and an enabler, and an enhancer to treatment, to allow those pounds to go further, and to optimize clinical and patient outcomes. But it's not just specific to England, the devolved nations also have their own strategies. There's the new Dementia Strategy for Scotland, Everyone's Story. That was launched last year. We've got Planning Ahead: Dementia Services in Wales. Again, the Welsh government commissioned and published in November 2023, an independent evaluation into the Dementia Action Plan, which was from 2018 to 2022. This sort of activity is always really encouraging. It means that it remains an area of focus. Because of the resource constraints and the financial constraints, they're not going to commission independent reports for areas that they're not serious about. And there's also the Dementia Strategy for Northern Ireland. The government in Northern Ireland has just started sitting again, since the last election, which is really positive, because it means now that funds can be released. And our intelligence suggests that for the first time since that strategy was published a few years ago, the funding is now actually following, and we have links into Northern Ireland as well, as well as links into Scotland and Wales. So it's clear that dementia is a priority from a national strategic government level, but more specifically within the NHS, there's also significant indicators of its importance moving forward. So just last week, NHS England launched RightCare guidance. RightCare is a way to optimize pathways, optimize service delivery, to ensure the best possible outcomes for patients across England. But what it is also really important at doing, is identifying efficiencies, and the RightCare program at large, has had a significant impact on how healthcare has been delivered in the U.K. over the last sort of half a decade or so. And as a result of that, it's really positive for us, that they have indicated dementia again, as a really important part of that RightCare strategy. We also have become aware that the NHS Clinical Entrepreneur Programme, which is an incubator for clinical entrepreneurs within the NHS, have also just launched the Dementia Innovators Programme. That applications for that program's is on the 1st October, which again, All of these things are really, really important, because they generate significant momentum for people to have conversations, to hinge strategies on. From a funding perspective, these are really, really important market signals and indicators. This is a priority, people are going to listen, and there's funding aligned to the strategies at a regional, local, and national level. The Alzheimer's treatment, Leqembi, is a really important element, I think, as we go to market with that sort of cost-effective solution. It is the first medicine to be licensed to Great Britain, that has been shown to slow down progression of the disease by between four to six months. While we have a psychosocial treatment, that doesn't have that same level of cost, that has also been shown to be able to delay progression of dementia by up to six months. So straight off, we're looking at a level of equivalence. The costs, though, from NICE have been indicated that they are not relevant for NICE to make a recommendation. We're not seeing enough of a cost-effective benefit in order to be able to move forward with that drug. Particularly when you think it's estimated that only around 70,000 adults in England would have been eligible for treatment. That figure compared to prevalence is tiny, but what it also indicates is that there is so much potential in the UK market to be able to really get going and really power the delivery of CST in the UK, and to be able to really help resource-constrained systems to be able to move forward with CST in a way that's sustainable moving forward as well. Dev, I'll pass back to you now. Yeah, thank you. So, as part of our work to try to understand the market fit for CST therapy, trying to understand the market potential, we've come across some really interesting findings from recent reports that have been done around CST therapy. But actually, mainly this report was from the Royal College of Psychiatrists audit findings from the memory assessment services, and this was done by the dementia unit and multiple different clinical leads, and NHS Trust leads came together to try to understand the prevalence and the incidences and the issues with how we're delivering services across the NHS for dementia patients and the aged care sector. So what was really amazing about this, audit finding, which we think is really relevant to speak about today, is that people that were waiting on average of thirteen weeks for their first assessment after referrals, be waiting for an average of five months to receive a diagnosis after referral, and people in deprived areas were waiting two weeks longer for a diagnosis. So we can already see that there is a severe shortage of, products or solutions in between the times when people are presenting with symptoms of dementia, to the point that they're getting their diagnosis, to the point that they're then being referred onwards for treatment or extra services that may be offered to them. So there's a real unique window of opportunity here, where cognitive stimulation therapy could be potentially offered as a solution to try to prevent these numbers from increasing drastically. Interesting that we noticed was that 31% of patients with dementia diagnosis were actually offered cognitive stimulation therapy. And there was a huge variation across the trusts, with the number of trusts that actually had CST therapy as part of their services offering, and the number of people that were being offered it. And then also the propensity for us to also target NHS trusts to support them on how they can scale up their cognitive stimulation therapy services. So I think all of this was showing from the findings, is that there needs to be a consistent methodology for how they offer CST therapy as a treatment, or consistency in how they provide post-diagnostic follow-up and support through provisions. Cognitive stimulation therapy is obviously being proven to show that it can reduce cognitive decline by six months. It is part of the NICE guidelines. So all of this is really showing us that there needs to be a drive and a way forward, that we can actually not only support better access to CST therapy, but also improve the inequity in access to CST therapy. And the beauty of the digital solution that we've created, which is the digital CST assistant, is that we really are able to break down those barriers and break down the barriers of adoption that we're seeing, through providing a digital solution that could enable us to solve a lot of these problems and service multiple NHS trusts. So we are really focused now on working with the people that have led on this report and this audit. There are some key advisors and leaders in here, KOLs, that we can really speak to and use as a really targeted approach to our sales and marketing strategy, but also, obviously, people that are really keen on finding solutions and driving cognitive stimulation therapy across the NHS, so it's a real... Going back to Fiona's point, there's a real signal to us, from the market, that there is a real need for a service like this to be adopted. Fiona, I'll hand it back to you. This is just to give an idea of different funding streams that we're in a position to potentially tap into both from a product development perspective and clinical trials, especially as we move from different regulatory classes. But also just thinking about kind of that long-term sustainable growth within the UK. As I mentioned before, the fact that there have been these strategies that have been announced has unlocked different government funding, primarily in research. The UK Dementia Research Institute, up to GBP 150 million. There are now designated centers of excellence for brain health, which will obviously be a target for our sales and marketing strategy in terms of how we drive forward this conversation, but also build advocates and champions who can say: "We really do need to get serious about CST now." Not only because of the benefits and the outcomes that it will deliver to those who have dementia, their families, their carers, but also the knock-on effects to the system. By that, I mean hospital admissions, A & E admissions, delayed transfer of care, which means coming out of hospital. These are all different points of a system that's under distress, that could all benefit from the introduction of non-pharmacological interventions, such as Brain+. There has been a commitment to double dementia research funding, and there's also a dementia mission that's been announced. In addition, there's a heavy, heavy involvement from the charitable sector, who also put in a lot of their own funds from fundraising into the delivery of dementia, who will again become significant allies in this journey for Brain+. ... health and social care costs. Dementia is unique in as much as there are clear funding streams that not just only go from the NHS specifically, but also into social care, which means that local authorities and councils have a direct interest in supporting and bolstering efforts to help their local population. Quite often what we're starting to see is that strategies at a local and regional level will also have buy-in and engagement from those local authorities because of the knock-on impact to care provision. There's NHS England initiatives, as I mentioned before, GBP 645 million over two years for expanding community pharmacy services, including dementia-related care and funding for diagnosing advanced dementia mandate tool pilots in 14 sites to improve dementia diagnosis in care homes. By being able to kind of follow some of these leads and from a geographical sense, it strengthens our approach to sales and marketing all the time. I think people quite often think NHS will go into the NHS. It's actually much more complex than that. But what we're seeing is a really, it's unlocking a very targeted approach to entering the UK market by kind of following some of these leads and thinking about people that are already interested, who are likely to become advocates and champions for our sales and marketing efforts, but all with the fundamental goal to improve people's lives who are experiencing dementia, either because they themselves have it or their families and carers are watching them, go through that. And then finally, specialized funds. So there's funds for the Centre of Excellence for Music and Dementia, which is again indicative of different approaches to dementia therapy, but also there's a lot of so crowdsourcing, fundraising as well, that kind of thing. So that overall holistic approach, again, is a really strong indicator that there are multiple avenues for us to explore as we go towards that Q4 target, but also going into 2025. So, yeah, I will just talk a little bit now around how we've approached our sales strategy and how we're starting to embed that into execution. As I mentioned before, we had a great partner that supported us on doing a lot of work to look at the various different NHS trusts that we should be focusing on from a perspective of being able to have the contract values that we need, delivering CST therapy, having the highest incidence rates of dementia referrals or A&E admissions. Multiple factors of data analysis to enable us to have a targeted approach to who we should be targeting, which will enable Fiona and I to be hyper-focused in our sales strategy and enable us to get to that Q4 target and obviously build that pipeline into 2025. We've mentioned a little bit about the contract values, but, across the UK, we have multiple NHS trusts. We have 42 integrated care systems and 50 mental health trusts. We have community hospitals, around 246. We have community providers, 826. GP practices, which are generally your family doctors, we have 6,925, so almost 7,000. Domiciliary care services, so these are at-home care providers, so these provide care in the home. And of these, there are around 11.5 registered domiciliary care providers. And then for residential nursing care services, so care homes, around 15,000 care homes. Obviously, we've not spoken much about that area to target. We've really been hyper-focused on the NHS target market, but not to kind of give no attention to it, but there is a significant opportunity here to provide the digital CST assistant service offering into the care home market, which I do believe there is a real valuable opportunity for us to research and look into, and also an opportunity around the domiciliary care market, which is the area that I worked in for many years. We just want to make sure that we're being really hyper-focused as we finish off 2024 and go to the area or the market that we know that there is a product market fit in terms of CST therapy already being offered. But part of the work that myself and Fiona are doing is actually looking at different verticals and other areas that we can target, including aligning that with our roadmap for our products that we're developing, and then driving real value into new verticals, across 2025 and beyond. It's just something that takes a bit more time, and obviously, like I said, we need to be hyper-focused to get us to the end of the year and sign a contract. We've obviously got really great, existing conversations that have been happening across the NHS and academia. Both myself and Fiona and the team at Brain+ have got some brilliant connections that they've cultivated, they've worked with. Age UK is one of our biggest, obviously, I think, wins and partnerships as the leading aged care charity that services over 10 million aged care aged people over the UK, and they have Age UK facilities across the UK that we can continue to partner with. The feasibility study that came out today was part of the partnership that we did with Age UK. We've got connections into UCL and Oxford. We've written Innovate UK grants and won grant partnerships as part of the partnerships that we have at UCL, and obviously, the founding inventor of CST therapy is from UCL, Aimee Spector. We've then also highlighted at the bottom here a number of trusts or ICBs that we really think we should be targeting. And as we said, these are ones that also are highlighted as not servicing any additional debt to NHS England, which means that there will be a higher propensity for contracting power into these ICBs. So I think we've created a really highly hyper-focused commercial strategy that Fiona and I are fairly confident to execute against, and build a pipeline of opportunities, both in 2024 and beyond into 2025. Thank you, Devi. Just summarizing here, I can see there's a mistake on this slide, but generally, this is showing the direction of our sales projections for the coming years. I think Hanne will also be touching upon that in the sales forecast. One thing that we know for certain is that we're targeting a U.K. market breakeven in 2025 and company breakeven in 2026. Now just with a more refined, precise, hyper-focused go-to-market strategy, as Devi has said, now with the right commercial team on board to actually execute on those plans. With that, I will hand over to you, Hanne, to have a look at the financial highlights of the first half of this year. Thank you, and welcome to all you listening in, and thank you for your interest, so the half-year report for 2024, which we released Thursday last week, is essentially a reflection of the change in commercial strategy that we also communicated to the market in the beginning of 2024, so as you've heard during this presentation, the change and immense focus on building market access and a commercial plan for the U.K. as the most attractive market for us to reach proof of business and our goal of breakeven, so what we realized in the first half of 2024, in terms of financial, was a gross profit of DKK 1 million, against DKK 1.6 million in the first half of 2023. Into this number, we have different elements, and one of them is realized sales. As you can see, realized sales so far is not amounting to a large element in this gross profit, as we realized DKK 100,000. This is obviously the first commercial sort of sales we can show, because the first half of last year, we did not realize much in terms of sales. These are values that comes from the total sales value of contracts closed of about 250,000, which we have communicated earlier. The decrease in gross profit reflects mainly the operational shift that we've had, with less development costs capitalized as income, while U.K. regulatory and market access costs have increased, as a consequence of our focus. Staff expenses, which is the main cost element in our financial result, fell to DKK 5.7 million in the past half year from DKK 6.2 million, and this is a reflection of us really being very, very focused on keeping as lean an organization and as lean operations as at all possible, without jeopardizing the very firm goals we've set. So in total, an operational result of a loss of DKK 6.7 million versus a loss of DKK 6.6 million in the first half last year, so essentially unchanged. The operational cash flow from the period was improved, so it was DKK 5.4 million of cash outflow against a cash outflow of DKK 8.9 million in the first half last year. So total cash flow with the capital increases we also realized successfully during the year was DKK 1.6 million, and we closed the first half with cash and cash equivalents of close to DKK 5 million. Next slide, please. So the financial outlook. In 2024, we expect to realize Danish sales of up to about DKK 200,000. So another DKK 100,000 realized in the second half. Into this number, we do not include any potential new sales contracts, as we have said, since we focused our commercial activities on the U.K., and also because the Danish market and the municipalities in Denmark, while interested in our product, their budgets are extremely tight and have been further cut during the past year. In the UK, we expect to close the first NHS evaluation track contracts as Devika also presented, with an estimated sales value of between DKK 150,000 and 200,000 DKK. To what extent they will be accounted for as sales in 2024 compared to 2025, we do not know yet. They may cover a term. Anyway, that's the sales value of the contracts. So with that, and a continued strong focus on lean operations, we expect our net results for the full year to be between - DKK 12 million and - DKK 15 million. The financial outlook beyond 2024, we have communicated also that we will be updating our sales forecast for that, for the coming years later in September, when Devika and Fiona has had the full sort of the time to really look into the go-to market and the commercial plan. Recurring UK sales are expected though from the first half of 2025, building on the first contracts and on the pipeline of customer leads. With the objective, as Kim also presented earlier, that we will reach operational break-even for the UK business by the end of 2025, and targeting a full company operational break-even from end 2025, based on the current operational plan. In terms of funding, as said, we had about DKK 5 million in the bank at the end of the first half. The next funding round to secure the funding of our operations, expectedly to the end of the year, is the exercise of the TO 4 Warrants, which was issued in combination with the rights, the unit rights issue, which we conducted in June this year. So we have a number of warrants outstanding, and this can bring us at full coverage, funding of between DKK 5.2 million and DKK 6 million. The exercise price will be determined based on the volume-weighted average price of our existing shares in the period from the 15th of August to the 12th of September, so essentially, the pricing period is ongoing. And the terms is to have a 30% discount to the existing price, however, with a lower limit of 8 øre per share and a higher limit of 10 øre per share. The final exercise price for the warrants will be announced through a press release on the 13th of September. The exercise period, as you can also see from the slide, will be running from the 16th to the 27th of September. However, most likely will there be an earlier sort of closing date for, in particular, Nordnet accounts, so that is most likely the 24th or 25th of September, but that will also be announced at a later point in time. Next slide, please. So, sorry, that was actually not. I just wanted to also highlight that while we have the TO 4 Warrants upcoming, we are also in parallel, working on the longer term or next step funding, to secure the operations. So the plan is, as communicated also in the half-year report, as the preferred route, to do a directed issue of shares to targeted selected investors with a focus and interest and understanding on healthcare and on dementia in particular. We intend to cover with such next funding steps the full time until targeted operational break-even, so the full of 2025 and 2026. We will most likely, or we will try to do so, in tranches, so that each funding tranche will be in parallel or on the back of business milestones of value creation, in order to minimize the dilution to our existing shareholders, while we build value into our operations as we realize the plans, in particular in the U.K. We also seek, as you could see from one of Fiona's slides, to seek funding from grants, both UK grants and EU grants. We have actually identified, just for the fourth quarter, a couple of UK grants that we can apply for, with a potential total grant amount of about five million DKK, which will then be able to be a supplement for funding into 2025. With that, I think I will hand over to you, Kim, to close up. Yeah, that's absolutely fine. And I can maybe just add in addition to what you said about funding, Hanne, that we are now and have been in an active dialogue with knowledgeable investors, including things such as super angels, family offices, and even VC funds. So these are still the type of more knowledgeable investors that we wanna get into the cap table in parallel, and in addition to all our existing great investors that we have from the public markets. And of course, in the rights issue, we saw the first of this type of investor enter with 5P Future of Health. 5P. -investing in the company. Five, 5P Future of Health investing in the company, and these are the similar types of investors that we are in dialogue on to get more of that type into the cap table. And so we have a more long-term horizon for reaching our business milestones. So this is. So there's a lot going on on that front. But just in recap, I think as you can, and as everybody who has followed us by now, or but also for newcomers, I mean, just to sum up the Brain+ situation opportunity, this is really a company that is where we are pioneering innovation into dementia management, and we will have a transformative impact on the way dementia management and care is being delivered into the healthcare systems. We are in a position to take a global leadership position, and we are, as of this month, we will be expanding into the most attractive market for our product, the U.K. And the U.K. will, of course, be a stepping stone into future bigger markets, such as the U.S., in the longer term, and our ambitions are really global. But right now, hyper-focused on U.K. and breaking through in that market, which will be the first step on this journey to really lift the company to that global leadership position. We've already validated the market, the product in the Danish market, also with the recent usability studies in the U.K., and that will only continue now with real sales validation in the U.K. for larger contracts. Competitively, we have a very, very strong position, being the only company really, leading the charge here with cognitive stimulation therapy. And the reason we have such a good position is that this therapy is becoming the global standard. We have the endorsement from the main KOLs, key opinion leaders and experts in this field, including in the U.K., and they are also the global KOLs. So the growth potential is really vast for our products, for dementia management in general, which is where we're heading, as we will be presenting later this month, updates to our U.K. to our 2025 product roadmap as well. So many exciting things to come, and we're really on the verge of this, value inflection of entering the U.K. market, and we're on track. According to plan, we'll be launching as a medical device software into the U.K. market this month. So really exciting. So hopefully many of you are continuing with us on that journey, and more of you will join us on that journey. And you can follow our news to figure out how to be a part of the TO 4 warrant exercise, for example. Either you already have warrants, or they can be bought in the market, or one can become a guarantor as well. There are many different ways. So more on that, but with that said, I think I will leave it to hand over to our moderator, Anders, to ask us the questions in the open Q&A. Perfect. Thank you everyone for the presentation, and let's move directly into the Q&A. As we always do, I will read out every question, so some of them might be a little bit like each other, but you can answer to the best of your abilities. The first question: You are looking to close your first sales contract in the UK in November/December. I would think this is a process that takes some time, so have you already started this in order to be able to reach this milestone? Yeah, I'll let Devika take this one, and maybe also adding to that question, Devika, how are we gonna get the customers initially? Yeah, so I think, we alluded to it on the slides. Hopefully, Fiona and I maybe answered that question in a, in a roundabout way or maybe directly, but just to reascertain and reaffirm what we've been saying. So the work has been done prior, a lot of months up, leading to our active launch into the UK, through a partner called Quiddity that, Brain+ had, worked with and brought in as a business development partner from the UK. And they were really, instrumental in supporting us to essentially, do the kind of upfront work that's needed in terms of then designing the commercial strategy for us to then execute. So a number of the pieces that were pulled together into this jigsaw of our sales strategy was looking at kind of the data around the NHS trusts or the ICBs that we should be targeting and really being hyper-focused to knowing which ones are the most accurate and have current contracts that we could target actively into this next Q4. In line with that, Fiona and I have been working pretty much in the last week, obviously, since Fiona started. I started a few about a month ago now and have been doing a lot of work to really ascertain who we should be targeting and how and when, and what strategic partnerships we should be creating or working on in order to land that first contract. One of the things that we think is really, crystal clear and obvious to us is, we've obviously had this amazing partnership with Age UK, with this usability study that's just been carried out, where we've highlighted a real value in the digital CST Assistant. We believe that there is a real opportunity here to start to turn that partnership conversation into a commercial conversation. And alongside that, as we've mentioned as well, we've highlighted really clearly the opportunities across multiple different trusts, where we could actually go in and target and find contracts that already deliver CST therapy and provide our solution as an alternative to support them to really scale up. I think this is all just really added to the fact that there is this real drive and push now that Fiona spoke about, and a real impetus to find solutions and innovation to really support dementia patients. We're really positive that over the next few months, we'll be able to land a contract, but not only that, build a pipeline of opportunities that we can then begin to also land within 2025. Fiona, I don't know if you want to add anything to that question or the answer? I think the only thing to say is that from a pure contract enablers, we are awaiting the outcome of framework submission, and that basically is a pre-populated contract template, and if we're successful, and that should be within the next quarter, that will allow us to speed up the contracting process significantly, which means that it's not beyond the possibility. If it was completely cold with no frameworks to be able to draw on, it would be more challenging. But those steps have been taken to enable quick contracting and sales processes, which is really positive. I think the other thing to say is that from the perspective of the NHS financial year, we really are hitting the market at the right time. I think if we were talking about April or going into the summer, it would be more challenging, but the impetus with budget setting and planning is there. And so we're gonna be doing some activities over the next sort of quarter to really maximize that and make sure that we're not only focusing on kind of year-end, but also thinking calendar year-end, but also really thinking about the final quarter of the NHS financial year, which is January to March. Perfect. And moving on to the next question: How is the process of getting larger investors on board going? Yeah, it's going well. I touched upon it, as before. We're really targeting specifically investors that have a specialization in either dementia and Alzheimer's disease, which is a key, key priority for us, and/or a digital health specialization. So these are the type of investors that really understand not only what Brain+ is doing, but really fully can see the potential based on their prior existing knowledge in the space. And therefore, can invest long-term also to really realize the full potential of Brain+. Will you make the UK usability study of CST Assistant public? If not, why not? Yes, as mentioned, maybe this question was asked prior to the news release today, but the results have just been published in the news today of the full usability study. Then there's a question here: If I want to be a guarantor in the TO 4 emission, when am I going to pay Brain+ for participating in the emission? Guarantors who... Maybe I leave that to you, Hanne, actually. Yes, so guarantors who come in without having TO 4 warrants, they will have to pay following the completion of the exercise period, because shares will be allocated to them in the form of a directed issue, so payment would be sometime end, really end September. In addition, I can say that anybody interested in being a guarantor can contact Hanne. And then the next question, I think you have also addressed that, but, I will read it, and then you can put more context to it. If Brain+ are going to break even in 2025 in UK, how much sales are Brain+ going to complete to reach this target? So I think you can tell by Hanne's cost projections that basically right now we're projecting an as-is organization, so we're not expecting to increase our cost base going forward. So it is with that in mind that we need to cover those costs. So that cost base this year will be around. Well, Hanne, help me out here with a more exact figure of the current cost base. Yes, I actually think the question was on the UK, so- Ah, yes. Yeah. Okay, it was on the U.K. Sorry. Essentially, we have the star team that you can see here, Devika and Fiona, and we will then consider during 2025 if more resources would be needed if the potential and the opportunities we see can justify that. In addition, we will, of course, also need some regulatory, some quality things in the UK, and building on what we can see there, we definitely expect that sales by end 2025 will have reached a level of recurring or sales contracts that can cover that. The reason why I'm not being specific is that we can also see that we have some room of maneuver, in the sense that we will like to reach this target. This is our key ambition, and we can, depending on how fast and well we can increase the number of contracts and how fast we can get into some recurring revenues, we can then also scale a little up and down, on the investments we make in the UK business. How difficult is the first sale, and does this make the following sales easier? I'll leave that to Devika. This is a fun question, so the first sale is always super challenging, as you can imagine. I think we're, you know, we're coming into the UK market as a new brand, and with that comes the added challenges or difficulties in, you know, making us ... being aware as a new opportunity and a new business. However, we've really laid the path to prevent us from being really starting from scratch. As I said, you know, we've done this amazing usability study with Age UK, which is the leading charity for aged care in the U.K. It's a famous charity. Everyone knows it. It's on the tip of everyone's tongue. If you think about dementia, and you think about elderly care, anyone associated with this will know the importance of this partnership. So I think already we've positioned ourself as a very reliable, trustworthy brand. We've even allocated ourselves and managed to win a partnership like this. We also have, you know, created some waves with the work that we did upfront with Quiddity, in terms of landing ourselves and having initial conversations with people within the NHS as part of that work. And obviously, I wasn't here at the time, but all of this work has led up to having a really well-formulated strategy for us to now target those people. And Fiona and I are going to work really hard to nail that first customer. The first customer is always a challenge, but as you said, I mean, it was in the question, once you've got that first customer, you realize the value, you show the value of your product. Mm. You realize the benefit that we're going to be providing to the NHS. It really will become a domino effect. Like I said, you know, I've led and been in the commercial sphere for years, and years, and years, as has Fiona. We are really well-informed at how to build extremely brilliant processes in sales functions, how to build brilliant commercial functions, and how to think strategically about partnerships. It's one thing Fiona did beautifully when we worked together in our previous role. And we worked at, kind of, working into the US market and launching the company into the US market as a new brand, and within three months, we had a first customer and a very significant-sized contract. So it's not out of the ordinary. It's not an insurmountable task. It's about following the right process, making sure you're hyper, hyper strict and hyper-focused in your approach to getting that sale, and, yeah, building a brand that is reputable, which we've already done, and it's just building upon that. Fiona, if you want to add anything? Go. I would like to just add a little thing financially, because also the UK Age UK partnership is essential. And also, as relating to the question about financing and break even, this was actually a study which was not adding any costs to Brain+. So essentially, Age UK and the two sites, they invested in this, building on their interest on the product. This is just an example of how we are going also to approach and building the evidence we need in the UK without putting a heavy layer on costs. I wanna make one final addition as well, that has been mentioned earlier, but not in this answer. Also, the fact that we have the full endorsement of our product by the leading U.K. dementia experts is also a huge help in closing that first sale. Perfect. Brain+ have said you're going to launch version two as a Class I medical device. Are there different classes that would be needed for sales in UK, or have your program the needed approvals? The Class I will be what is needed in the U.K. to make the claims that we wanna do. So there are several classes. There is also a Class IIa, for example, for digital health tools, but this is not what is required of the CST Assistant product in the U.K. It may be for some of our later products in the pipeline, but this is basically the perfect, you can say, spot for us to be with a Class I medical device, being able to make the medical claims we need and also having the minimum cost and admin burden. Because the higher the device classes, the higher the cost and the admin burden also becomes. Might be good just to touch on the regulatory components. Fiona, if you wanna talk to the DTAC and the other components around the G-Cloud, 'cause I think that semi also adds to that question. Yeah, I think, for where CST Assistant is positioned right now, we have the right regulatory approval, and that has informed the approach that another partner in the UK has taken to regulatory approval and governance. There is an assessment criteria that's required for contracting with the NHS, referred to as the NHS Digital Technology Assessment Criteria. It is a prerequisite to contracting and commissioning. We've already done it, so we're well-positioned. Beyond that, I think that our regulatory process will be aligned with the functionality of the products as they develop. There is a slide, I think, earlier in the slide deck that shows that growth. But I think that will naturally follow with grant funding as well, so that when we're kind of thinking about clinical trials and so on, we're automatically starting to build that evidence base for the regulatory approval process. But we're not looking, as far as my understanding, is we're not looking beyond Class II, which essentially is this, just an iteration of where we are at the moment, rather than the much higher classifications for regulatory approval. Where we are right now, we are where we need to be. And we've done everything from a tick box exercise, and from a G-Cloud perspective. So we've got the commercial checklist complete, if you wanna think about it like that. We've got the clinical checklist complete. All those different components that make up the DTAC in terms of GDPR, clinical risk management, and so on, it's all been thought of, already and taken care of by partners in the UK, who are very well, informed about kind of moving forward with the developments from the NHS perspective, but also how that links back into the UK regulatory markets. We have arrived at the final question here. You abandoned the TO 5 warrants when you ran the unit subscriptions. What are the financial reasons for that, e.g., expected sales revenue in UK and Denmark to secure the financial needs? So the reason for not having a TO 4 was TO 5 was very simple, is that when we made the final design, we wanted to reach to stay within what is called the prospectus limit of EUR 2.5 million as the maximum raise that could have possibly happened. And so as we designed it finally, that didn't actually leave room for a TO 5. But that said, of course, we are working on the financing. That also implies that we will be getting recurring sales in 2025, as you can hear. And so that will also be part of supporting the ongoing financing of the company. And that was all the questions, so that finalizes the Q&A. But before we end the webcast, I will just hand over the word for you, if you have any final remarks to end with. Thanks, everyone, for taking the time. A lot of things is happening these days. You will see by our news flow. I encourage you to sign up to our newsletter if you want, on the website, and also reach out to us directly if you have any questions about the company or wanna join as an investor or as a guarantor on the TO 4 warrant exercise that is happening here in September. So thank you so much for taking the time today. Thank you, all. Thank you. Thank you.