Good afternoon, and welcome to this Investor Presentation and Q&A with Brain+. With us today, we have the management team. First, there will be a presentation, and afterwards, a Q&A where the management team will answer questions submitted via Stokk.io. There have already been pre-submitted questions on Stokk.io, and the Q&A is still open so that you can submit questions live as well. I will now hand over the mic to Brain+ to start the presentation. Kim and Hanne, your line is now open. Good afternoon, everyone. It's a pleasure to have you here with us today. Right now, me and Hanne, and very soon to be joined by our Chief Commercial Officer, Devika, and our SVP Partnership. Oh, there she is, right on. Hi. Hi. She is here with Fiona, our SVP Partnership, and with Vishal. There he is. The reason they are all together is, Devi, maybe you want to share what is happening in the U.K. right now, and then we will get back into the agenda right after. Yeah, perfect. I mean, obviously, we are working together as a team. Every Friday, we come together and do a bit of workshopping and working through our commercial strategy and our outreach and our lead gen. Yeah, that's why we're all together today, the dream team working from London. Yeah, do you want to start off going into the NHS commercial, and then we'll go into the rights issue afterwards, or how do you want to? Absolutely. A little quick agenda here for our listeners. We'll start actually by introducing Vishal, who is the wonderful new addition to the board as a board observer with the intention to later become a board member. Vishal, he can introduce himself and his experience in the care homes operating space in the U.K. and how he views Brain+ and that opportunity. After that, Devika and Fiona will be diving into the market outlook, the pipeline, and also a bit about what's happening in the NHS right now. We'll finalize the presentation with the rights issue and then going into the Q&A. Warm welcome, Vishal, and so nice to have you here. I'll leave the floor to you. Thank you. Thank you very much. Thank you also for the very warm welcome. I'm absolutely thrilled to be sort of part of Brain+'s exciting journey right now. I think through Ayla, they're hopefully going to make an incredible impact in terms of really impacting the positive quality of life that those living with dementia can have, particularly with a focus around the U.K. I'm thrilled to be joining. An exciting time for Brain+ and Ayla at that stage. By way of background, I have spent sort of the last couple of decades, I would say now, really in and out of the social care sector, both from an operator perspective. We've been part of a couple of large groups that have been national providers that have delivered care across the country, also having developed our own platform that provides care at home and uses technology to also help and enable care to be monitored within the home care settings, and also across senior living and care generally. I have also sat on a few boards as well, one large board being Care England, which actually represents pretty much all care services, the largest care services providers within the U.K., and really strives very hard to not only promote the positive impact that social care makes within the U.K., but also really works very closely with government to try and guide and also, at times, very much lobby what we need in terms of the nature and the direction of travel around health and care policy. Actually, the U.K. is a perfect spot really for where we look at market entry for this particular project. As we talk about Ayla and the impact that it makes around dementia care, in the U.K. and with the new government that is in place, we already are seeing some very strong sort of strategic shifts in terms of the impact they would like to make around health and care policy. Three particular missions are very much around moving from hospital to the community, moving from treatment to prevention, and moving from analog to digital. When we look at those three core themes, we really see where Ayla really fits in very nicely in all of those three core themes, particularly where we start looking at the work that the social care sector does outside of the hospitals and being very much at the heart of all communities. Also looking at how now the technology landscape is transformed and the fact that actually technology is going to play a very crucial role in not only developing efficient ways of care for delivery, but also improving the care and bringing it right into the heart of those that really deserve and need it most. I think looking at all of that, I'm very excited to be alongside that. I'm working, as you saw, we were working very closely with Devika and Fiona here in the U.K., really trying to make that impact. We've had, in the short space of time that I've been involved, we're already starting to make some really positive impact in terms of conversations that we're having. Firstly, thank you for allowing me to be part of this journey as well. I am very excited to join and see where the future lies around the impact that Ayla will make, particularly in the U.K. Fantastic. Vishal, you should have the opportunity to jump in later if you have any additional perspectives and reflections on anything that's being presented today and, of course, also during the Q&A section. With that, we'll hand it over to, I think, Fiona at this point, Yes. Here she is. Hi, everybody. Good afternoon. Happy Friday. We thought that it would be pertinent to give you a bit of a view of some of the headlines that were coming out of the U.K. last week with some quite provocative, politically motivated headlines about the abolition of NHS England. I think the first thing to say is that a reorganization of the NHS is not uncommon. For those of us who have been around a while, we do remember life before NHS England, and now I certainly do. It is not the abolishing of the NHS. It is just NHS England is the world's largest fat quango if you go with the headlines. What it actually means in practice is that some of the functions that sit within NHS England are going to be transitioning to the Department of Health and Social Care, which aligns with the political mandate that arguably our current government believes that they have from the electorate with regards to resolving some of the issues that have faced the NHS, particularly since COVID and particularly in the context of very long wait times for elective care. It's been in the rumors and in the sort of the rumor mill drive for a while, so it's not entirely a surprise. What was a surprise, though, is that simultaneously, Integrated Care Boards are also having to tackle the fact that they have been instructed to reduce their management operating costs by 50% with a focus on cutting bureaucracy. Now, in day-to-day, the biggest thing that people have reflected on is actually the impact of people as opposed to the impact of the system and the impact of the priorities of the NHS. I think there's a general consensus that the NHS probably does need a bit of this shift around, but that there is a human impact to all of this, which results in job losses and all of the anxiety that comes with that. As Vishal said, it does align with Labour's sort of three pillars around moving community-based care, prevention of ill health, and the use of digital technology. Those factors and those influences have not changed with this announcement. What it does mean is that there's highly likely to be distraction. There's highly likely to be delays in decision-making at a national level. From a risk exposure perspective, we are not dependent on large-scale frameworks being run by NHS England from a procurement perspective. We know that there will be an increased pressure on Integrated Care Boards to deliver efficiency. In-year savings will continue to be a massive priority when making decisions about technology. We know that there will be increasingly a greater focus on community-based and preventative care in theory. In practical terms, certainly within the next 12 months, I would anticipate that there would still be a lot of political spotlight on elective care and waiting lists, so orthopedics and other such specialties. Can you just pop onto the next slide for me, Hanne, please? From our perspective, what it does is it really validates our early pivot to care homes, which we've told you over the last few webinars that actually we recognize this quite early on, that because of some of those pressures that were influencing the NHS, that our decision to move to care homes was the best way in which to maximize the value of Ayla, both now and in the future, but with the view that that would always be supportive of longer-term NHS ambitions, particularly around using care homes as community-based assets and thinking about how they can deliver CST as part of post-diagnostic dementia care pathways. There is an absolute strategic focus continuing on the NHS, but not in the short term, which is in keeping with the strategy. We're not exposed to the news. Rather, it's a watching group. I think at this point, I will pass on to Devi to tell you more about the pipeline itself. Hi, everyone. Yeah, in keeping with I am just going to make this bigger because I cannot see without my glasses. In keeping with kind of updating you on the sort of commercial and the pipeline strategy, we wanted to kind of give you an overview quickly because I've had a few questions come our way around how we are contracting within the care home sites that we talk about. Obviously, thinking about we've got a number of sites that we need to target over the next year in order to hit our target for the company and the organization. I'm really thinking about, is this a per-site activity basis, or can we incorporate and capture in one contract a number of different sites? Short answer, absolutely. This is the way that it's being planned out and the way that we are approaching our sales strategy. On the left-hand side, you'll see that there are sort of three different tiers to care homes within the U.K. You've got the large corporate care home tier, which is often 50+ sites. That's 50+ care homes that exist under that large corporate umbrella name. You have the mid-tier, which is often between 5 and 50. That's, again, the number of care homes that exist within that organization. Then you've got a small tier that's usually sort of sub-5 in terms of site numbers. The large corporates are the big logo names that you'll often hear, like HC-One. You go down to the mid-tiers and small tiers, which generally have a smaller number, and you'll contract individually or you'll contract based on signing on two plus three sites as over the year goes. In terms of our business model, this is what makes it a really nice play of how we are working the care home sector. We're charging an annual license fee, a SaaS model, which is a really brilliant model to help us get that ARR that we need. That license-based model essentially incorporates one site. If we were to contract with a care home group that, for example, had five sites underneath its name, we could contract with that one organization and then deliver Ayla into those five different sites and charge a per-annum fee per site. That enables us to get to that aggregate number that we're trying to achieve in terms of our revenue much quicker because we are operating and working with larger organizational names with a number of sites underneath them. As per kind of inclusion into that, then license fee, you'll see that we include the onboarding and the training of the staff members, and then they get access to Ayla or CST assistant to deliver group therapy throughout the year. It's a nice business model. It's a really great way for us to kind of target care homes over the next year. Really, generally, where we believe the sweet spot to be is around that mid-tier level. It enables us to capture a really good audience of organizations that often have a head of dementia or they'll have a dementia lead that is really front and center for organizing dementia strategies within that care home and probably across a number of different sites under that care home umbrella. For us, it's a real sweet spot to go for. In terms of, obviously, sales pipeline, which I know everyone is always keen to understand about. In terms of the total revenue of opportunities in our pipeline, we have around GBP 430,000. What this actually means is, obviously, we are growing the number of conversations, the number of opportunities that are coming through either via a marketing qualified lead or a sales qualified lead, then into dialogues, and then, obviously, over into contracting or proposals and then contracting and then closing off and winning. This aggregate is the total revenue of the kind of the number of different opportunities that we have currently live in our pipeline. What we are doing is, obviously, a combination of sort of account-based sales focusing on the largest operators, as I just mentioned, reinforced by that high volume play to enable us to get to those numbers because it would be remiss of us to focus on one mid-tier that had 10 sites underneath it. If that was to obviously drop out, then we would lose out from that kind of large aggregate number. We have to have that high volume, low contract deals kind of operating consistently whilst we do that combination of that account-based sales approach. That is what Fiona and I are really working on. We have got the real big support of Vishal, who is really critical to just supporting us and making sure that our approach to the market is valid and leveraging those conversations that he is actively having to kind of support us in enabling us to kind of get into the places that we need to. In terms of revenue streams and where we are at at the moment, we have heard some really great news this week. Nothing is this is just opportunities, closed opportunities. Okay. In terms of the care homes in the U.K., we've currently got a win that's come through, but we're actually processing the closure of the contract. I can't disclose currently what that is because, obviously, it's under a contracting process. We've got a number of different kind of opportunities that are coming through in Denmark, which are currently being pursued alongside sort of two NHS organizations where we're pursuing sort of internal discussions and budget sourcing, despite, obviously, the conversation that Fiona has just spoken about in terms of the NHS organization reorganization. We've still got some good conversations happening within the NHS currently. I'll leave it on that from commercial. I think I'm going to be handing back over to Hanne in terms of the rights issues. Just one note to people who have been following the news, please note that the sales pipeline numbers on this slide are in GBP. You might have noticed that the same numbers in EUR is EUR 500,000. If you had any wonder about why those numbers were as they were, it is because this one is in GBP. The one that we came out with last week when we did the KPI updates was in EUR in case there was any doubt about that. We are expecting imminently to see how this pipeline will be converting. We look forward to, in the coming period, sharing more news on this. I will now go into the ongoing Rights Issue, which is also really exciting for us. Now that Hanne has the floor. Thank you so much. Thank you to all for listening in and spending this late Friday afternoon in the beautiful weather to listen in. As most of you, I'm sure, are aware, we have a unit rights issue ongoing. The offering is of units like we've done before, meaning bundles of new Brain+ shares and warrants of series TO 5. It is an issue with preferential subscription rights for our existing shareholders. It is, as we've also communicated, a 50% secured issue in the sense that we have received pre-subscription and guaranteed commitments for up to DKK 8 million worth of gross proceeds. That includes DKK 1 million from board and management. The terms of the rights issue: all existing shareholders who held shares in deposit on the 14th of March have been allocated one unit subscription right per existing share held in deposit. The ratio is that for 15 unit subscription rights, the holder can subscribe for one unit. The subscription price per unit is DKK 1.1289. One unit corresponds to subscription of 53 new Brain+ shares and 53 TO5 warrants. That corresponds to a subscription price per share of DKK 0.0213. We are very happy to see that our share price so far has held up quite nicely. It has been trading most of the time above EUR 3, significantly above the subscription price. Subscription of the TO5 warrants via the subscription of units will be free of charge. Yeah. Sorry? Something? No, go ahead. I was just saying that just a comment on what you said. Yes, trading above EUR 3. And right now, during this webinar, it's at EUR 3.6. Actually, even above the maximum warrant exercise currently. We'll have to see how. The terms of the TO5 warrants, a warrant is actually a right to subscribe for one new Brain+ share at a future point in time. The exercise period has also been defined. The TO5 warrants are exercisable from the 3rd to the 17th of June this year. The exercise subscription price will be finally determined on the 1st of June or the 31st of May. It will be based on 70% of the volume-weighted average price of the existing shares during 10 consecutive trading days prior to the 30th of May. The sort of boundaries for what the subscription price can be is that it is at a minimum of EUR 1, which corresponds to the nominal value of the share. The maximum exercise price, as Kim just mentioned, is around EUR 3, just a little over EUR 3. Next slide, please. Use of proceeds, as we've also communicated, is essentially to fund the execution of our U.K.-focused commercial plan, as Devika has also presented, and build customer validation of Ayla, your CST assistant, which is the first dementia care product on the Ayla platform that we're building. As many of you know, it is actually to support high-quality and scalable delivery of cognitive stimulation therapy for better dementia treatment and care. We need the proceeds from the unit rights issue to fund us as we establish a growing revenue stream building on the pipeline worth currently, as presented, EUR 500,000. The important dates to consider in relation to the rights issue is that the last day for existing shareholders to respond to the offer in Nordnet will be Sunday, this coming Sunday, the 23rd of March. That means, essentially, if you are an existing shareholder and you have been allocated subscription rights, you would need to respond to the offer in Nordnet before the end of Sunday. Otherwise, Nordnet will automatically try to sell your subscription rights into the market. For anyone who has purchased subscription rights or non-existing shareholders who would like to subscribe for shares without the support of subscription rights or existing shareholders who would like to subscribe for more shares than based on their allocated subscription rights, this can be done via Nordnet until the end of Tuesday, the 25th of March. The last trading day for the unit rights will be Wednesday, the 26th of March. The last day in the public subscription period overall will be Friday next week, so the 28th of March. We expect to be able to publish the outcome of the unit rights issue on Wednesday, the 2nd of April, at the latest. As I said, the offer is 50% guaranteed. We are certain to get gross proceeds of DKK 8 million, which corresponds to around DKK 6 million in net proceeds to the company. For those proceeds, we will be able to fund the company into July, past the exercise period for the warrants. As we've also communicated, with the reduction in operational expenditures, the restructuring and very, very slimly focused business model now supporting our U.K. commercial activities primarily, we will, with a 50% exercise of the warrants at a price in between the two boundaries, so between the minimum and the maximum, be able to fund us into 2026 and to establish, hopefully and expectedly, a growing revenue stream based on the pipeline that we have presented today. With that, I think I'll give the word back to Kim for any or to open for Q&A, I think. I think we'll take the Q&A, and then we can all comment later on if we have some wrapping up comments. Perfect. Thank you, all of you, for the presentation. Let's jump into the Q&A with the first question here from Nils. Dear Brain+, if not answered already in the presentation, please elaborate on how the new issuance is developing, maybe in a percentage split on how investors are buying shares and how close you are to main objective. We can answer that very fast because we have no insight, essentially. We will only get the final results and see how the subscription is going once we have the full subscription provided by Nordnet and the other banks. We honestly cannot say. The only thing we can say, which is supportive, is that the share price is holding up. There should be a motive for subscribing at the offering price of EUR 2.13. Other than that, we actually have absolutely no insight into how it's going right now. We can say, however, that some feedback we have received from existing shareholders beyond those who pre-subscribed prior to announcing the offer, we know that there is additional support. As you also know, we have bottom-up guarantors who are securing up to the 50%. Additional subscription will also go in and replace the guarantors, which will be beneficial in terms of costs. Currently, we cannot say anything about the percentage, unfortunately. No. I mean, but I only want to repeat, we can only remain optimistic given that the current share price is more than 60% higher than the subscription price. We have the next question. Can you please provide actual numbers in the sales pipeline rather than percentages? How many from initial contact to sales? Maybe, Devi, you can talk about the same kind of the two-way split that we also had in the news here the other day. Yeah. In terms of the split, I think we'd mentioned around getting a sales-qualified lead into proposal delivery. We'd said that there was a sort of 20% conversion rate. Sorry, 90%. I think it was 80%. I can't remember which one we're talking to, actually. Let me just check. Yeah. We're talking about the one where there's a 90% conversion rate and the fact that. 90%. Exactly. Yeah. Yeah. In terms of the conversion rate from the sales-qualified lead into proposal delivery, we've had a 90% conversion rate so far. When you're talking about percentages, it's better to look at percentages just because, from our perspective, we track and qualify our KPIs and metrics internally as a percentage to identify whether we're tracking above or below the kind of average percentage or the percentage target that we're setting ourselves. In terms of allocating a number to that and thinking about, I suppose, justifying the, I suppose, the sales numbers that you're wanting to have in terms of knowing the actual value of the sales, it's really hard to kind of give those numbers out. We want to be quite, I think, just making sure that we are being measured in our approach to how we are sharing the sales pipeline currently, especially considering it is a commercial strategy that is quite new and unique, and we are sort of first to market in this space as well. We just want to be quite wary of kind of not oversharing too much. When it comes to talking about the% conversion rates and thinking about how we are going from a sales-qualified lead to proposals to close, that is where we allocate the% to so that we can sort of track and compare to either the market average or our own internal KPIs. What we can share, like Devi says, we cannot share we do not share each single step in the pipeline. What we can share is more on the aggregate level. We have actually shared that also in the sales KPI and news this week. What we can say there on a more aggregate level is that about 20% of the sales pipeline is in the more advanced stages. That corresponds to about EUR 100,000. When you think about the sales pipeline, about 20% is already progressed to the advanced stages, EUR 100,000 out of the EUR 500,000. Yes. Moving on to the next question. When is the last date to make a commitment for subscription of new shares when either not having enough rights or not having rights at all? Yes. I think I answered that in my presentation. If it is an investor with a deposit on Nordnet, then it would be Tuesday. I think that's where they set the last subscription date. If it is via other banks or other depository institutions, the final date is on Friday. It is very important that each and every investor checks with their own bank or custodian to be absolutely certain what deadline has been set by that particular bank because it does actually vary, you'd say. Regarding the expected U.K. sales, are they going to be full sales, meaning that the giving center can provide Ayla CST training for all its patients that would benefit from CST or limited contract with a limited number of patients being able to receive CST via Ayla? Thank you for the question. At the moment, we are keeping it quite limited. We want to kind of build the evidence and the credibility in the U.K. setting. For that reason, and because we are in a go-to-market strategy, we are really thinking about keeping it limited but with the option within the proposals to go to a full end-to-end offer. I think it is fair to say that the market that we are targeting are really open to CST, but there is a journey, and they need to see the evidence for sitting behind CST in terms of the applicability to their own care home and their own residents, quite rightly. We are responding to that by setting in place a really effective customer success framework that enables us to drive towards outcomes that then delivers maximum possibility of a much larger scale contract. It is a deliberate strategy that we keep it quite limited in the first instance to enable early closure with the view that that will then move into organic growth within the accounts as we proceed into the rest of the year. As we do that, we will gain U.K. data points and evidence and traction that we can then use to further advance our strategies focused on developing our pipeline. That will then enable us to come to these meetings with more information about numbers of deals and closures and all that kind of stuff. It is very much in that kind of going into the market and really trying to meet the needs of individual clients and treat them as so rather than an off-the-shelf solution, and then we just say, "Off we go." Yeah, hopefully that answers the question that you can see that there is a strategy there around the limited pilot with a view that we'll see the growth within a year. Because it is limited and it's based on the program, it's not a never-ending story about a pilot, but rather it is very precise 14-week pilots with the view that we will be able to demonstrate the effectiveness of CST, specifically the effectiveness of Ayla to deliver CST with the view that that will then grow. Yes. Thank you for that. You expect a recurring multi-year sales contract in Denmark later this year. Can you, for clarification, confirm the total number of municipalities in Denmark that have a contract for Ayla and how many that have a multi-year contract on Ayla? Perhaps confirm whether they have signed full contracts based on their total amount of CST patients? Do you guys want to go, or shall we give it a shot? Yeah. I think Hanne, if you can talk through that from a perspective of the contracting and the number of municipalities that we have currently active. You want me to answer that? Yes. Okay. Okay. We have currently five municipalities under contract. We have extended one of them, which was where the previous pilot actually was ended by the end of 2024. We have also communicated that. That was a municipality going into a three-year extension, so a multi-year contract. We are also in talks with another municipality where their current initial contract ends by the end of March in order to extend. We are discussing, as we have said and what was referred to in the question, a multi-year potential contract, which could come by the end of the year. This is as much as we can say right now. Just to add, though, Hanne, I think that there is, particularly the municipalities in Denmark and the way that those services are structured, I think there is potential to grow and scale towards a model that is really rooted in the prevalence of dementia within a region. I do not think that model, just going back to the previous question specific to the U.K., can apply just yet. We would anticipate that in both markets, we do eventually scale to a model, a population health model that enables CST to be scaled and offered to those with dementia that are applicable for this. We need to continue to build the evidence base and get the credibility. It is at that point that we will start to replicate the models you see with cognitive behavioral therapy that quite often have contracts that are rooted in prevalence of mental health. Even then, there will always be a cohort of the population that it won't work for, that it won't be applicable to. There will always be that bit of nuance. Absolutely, we are working towards that both in Denmark and certainly from a longer-term strategic point of view in the U.K. as well. Definitely. Thank you, Fiona. I think also adding because part of the question was also whether the contract actually extends to full municipality or whether it's specifically targeting some units. I think what is important to understand is that even if there is a large number of units in a municipality, it is currently, in most municipalities, a relatively limited number of these sites where CST is delivered. What we are aiming to do based on our Ayla offering is essentially to assist the municipalities to an easier scaling of CST. There are logistic or not a lot, but there are logistic challenges. There is a resource restraint. Via Ayla, we can actually provide the means to facilitate an easier scaling of CST delivery. When we actually sign a contract, it can be for two sites. Even if the municipality might have 15 sites, it's only currently these two sites offering CST. Again, the potential is to scale CST offerings to all 15 sites in the municipality, which would then entail, of course, an extension of the contract we have with the municipality. I hope that answers a bit more. Yeah. I think it's worth just mentioning or noting what Fiona said here, which was comparing to cognitive behavioral therapy, which is the gold standard within mental health. I have said before and will say again that cognitive stimulation therapy is the gold standard within dementia care and will eventually become as big as cognitive behavioral therapy is within dementia. The CBT market is expected to hit more than $30 billion by 2030 and is already a multi-billion dollar market. This is just to say that CST will be going on that journey, and we're positioned very well for taking a leadership position in that, being currently the only medical device CST providers in the U.K. and, to our knowledge, the only professional commercial company doing digitally delivered CST at the moment. Perfect. The next question. What kind of role are Vishal going to play in regards of sales? Are Vishal going out proactive in sales, or are his role only advisory board member? Okay. This is always a good opportunity for me to step in and answer some questions as well. Look, I think fundamentally, I've come on board certainly to help and guide certainly the market penetration and market entry for Ayla into the U.K. sector. I think when, as you've sort of noticed by the pipeline, there is a good opportunity, a great opportunity, in fact, to really embed Ayla into the care system here in the U.K. I'd love to, one, help and guide that strategy so that we get the maximum impact in terms of its abilities for Ayla to be actually known and also accessible to as many places as possible. I naturally have an opportunity also to use my, where I can actually help and guide some of those conversations and provide some intros. I certainly will do that my best. Fundamentally, the commercial strategy is really important so that we actually enter with a sustainable strategy in the U.K. That is kind of where we will be spending a lot of time with Devika and Fiona to actually help and facilitate. In terms of the U.K. market, I think given the maturity of the market, you can see the fact that actually, whilst CST may not play a massive role yet, this is where the actual opportunity comes really strongly, where we actually use Ayla to really build it. I mean, the knowledge and evidence around CST is obviously, in some cases, understood in some pockets of the population but not fully understood everywhere. Actually, the benefits are quite transformational. I think this is kind of where we're finding that, particularly around the care home market, and particularly where the infrastructure really lends itself well, not only in terms of facilities and the skill base around the workforce that can be upskilled, but also the population. If you think about those that actually live within care homes, a good proportion, whilst they may not be diagnosed, will have some sort of cognitive impairment and are more likely to go on the strand of dementia as well. I guess what was really helpful here is, one, to build the great awareness of what CST has in terms of its benefits globally in terms of developing really a gold standard framework around dementia care, but also how we can use Ayla and get that awareness out there in terms of how Ayla can be a great tool to actually deliver that on a scalable model, particularly in the community kind of where that aligns very strongly with the strategy of health and social care as well. Thank you for that. That brings us to the last question for now. Will this be the last share issue? That we cannot answer at this point. What we can say is that this share issue will allow us, together with the assumed 50% exercise of the warrants, to the place where we have proven beyond any shadow of a doubt the commercial potential of Ayla and of digitally delivered CST to a point where new share issues, if they are to come, will be on radically different terms than anything that has been possible for an investor to get in on now or in the past couple of years. I would not see that as a main concern. I would rather see it as the primary that this is a unique moment and opportunity where it is right at the point of large-scale traction one can get into the company. Maybe I can add to that in terms of some numbers because what we have also shared is that pending that the sales revenue unfolds as we expect currently, we will need around DKK 10 million to reach operational break-even. As we said, with the 50% guaranteed in the rights issue, that provides us so it is actually DKK 10 million from this time. Part of what we have received in net proceeds also went into the bridge loan. What we will need is around DKK 13 million in net proceeds from the rights issue and the warrant exercise in total. As you will also see, if there is a full exercise and there is a full subscription, then we can provide or this issue will provide us up to DKK 40 million in gross proceeds. There is a lot of leeway, meaning also that if we are able to see a subscription up to 60, 65, and maybe even 60 also in the warrant exercise, then we can actually foresee to have net proceeds that will take us onto operational break-even. There is a good likelihood, I would say, that this could be our last rights issue based on the current business model. That was all the questions that we have received for now. That finalizes the Q&A. Before we end the webcast, I will just hand over the word for you for your final remarks. Yeah. I can just say thank you so much for being with us today and also a big, warm official welcome and the first live appearance of Vishal. Such a pleasure to have you and to hear your view on the perspective and the potential and to see you together with the commercial team there. Thanks to everyone, including the Brain+ team. We really look forward to sharing some exciting news in the coming time. Thank you.