Okay, I think we can maybe start. Welcome to poLight's post-quarter Q&A session. Joining me today are CEO Øyvind Isaksen and CFO Joakim Hines Bredahl. My name is Ubayd, and I will be moderating today's webcast. As always, you can submit questions in the chat. If you're watching this webcast through Quartr, Finansavisen, Facebook, or YouTube, please note that the questions can only be submitted via poLight's profile on InvestorWeb. If you are watching a recording of this webcast, you can still submit follow-up questions on InvestorWeb. We will begin with a brief slide presentation followed by a Q&A session. And also, we are using a new platform to host this webcast. While we have taken some steps to ensure a smooth experience, I apologize in advance for any technical issues that may arise. With that, I give the floor to you, Øyvind. Good evening, everybody, at least in Europe. A quick intro. We should be using mainly the time on the Q&A session, so already presented, poLight very quickly have developed a tunable optics lens, which basically replicates the function of a human eye, so we have a polymer sandwich between two glass membranes. One of the glass membranes can be bent by piezo, and by doing that, we replicate the human eye. Our supply chain is we produce the polymer. In In Norway, we have a subsupplier, STMicroelectronics, producing wafers, which is basically the eye muscles. We ship those to our assembly partner in the Philippines, which then assembles TLens with or without a package. Then we sell our unique technology to different types of OEMs, and those will be the key decision-makers when they are ordering camera modules from the camera module suppliers. But we will then ship lenses to the camera module supplier, for which they will then ship camera modules to the OEMs. So that's a very quick intro. We focus on different market segments. Consumer products, definitely key for us. We already have four design wins in the consumer. We have a smartphone design win Meizu 20 Infinity, a super good selfie camera. We have two smartwatches for kids, and we have a webcam. Maybe the most active area at the moment is AR/MR, and we are already in four glasses, all related to the enterprise market: Vuzix, LLVision, Magic Leap, and a very high-end head-mounted display, MR headset, where we are in the see-through camera, two see-through cameras. We also have been working on the industrial side quite some time, and specifically related to barcode and machine vision. As you can see from this slide, we are in many, many products now. Step by step, the platform is growing. We have also some activity in the healthcare, even though it's not something we focus a lot on, but it's more incoming calls. Examples are related to the Mini2P, which is used for brain research. The three key markets, consumer, AR/MR, and industrial, represent the key focus area. As you can see, we have design wins in all these priority market segments. In addition to that, we are exploring healthcare, automotive, I would say, following that market. Potentially, this can also later be a significant opportunity for the company. We have a very sluggish quarter when it comes to revenue. This is something which will go up and down. We are still in the early commercialization stage. So even though there's low revenue, there are clear reasons for being optimistic about the future. We are, I would say, increasingly well positioned in many, many promising market segments, representing significant business potential. Our technology and technology platform is becoming increasingly, I would say, respected and known. As I mentioned, we have key design wins in all prioritized market areas. We have also started key technology programs to future-proof the company, to kind of fill the gaps, and also to make sure that we have the right solution for the different market segments over time. We have an impressive manufacturing setup, which is gradually being optimized. We have built an incredibly, I would say, competent, capable, motivated organization, which will handle all the challenges and opportunities ahead of us. On top of that, as I mentioned, on top of all these opportunities, we have also market segments which can open a lot of business for us, which we even haven't really started to actively explore, I would say. Yes, we do some incoming calls, and we sometimes react on that. But I think that it's important to understand that those three market segments we have built position has a lot of potential. In addition to that, there are market segments we haven't really started actively to work on, which is another, I would say, poLight version 2. Of course, we would like things to go faster and achieve more revenue quicker. But I think the only way to make this a success is by working hard, being persistent, constantly taking a market and customer approach. Doing that, I'm sure that this company will continue to have success in the future. Thank you. Thank you, Øyvind. Maybe we can start with the pre-submitted questions first. And after that, we can take the live questions in the comment section. Okay, let's start with the display project. Øyvind, can you explain how extensive is the preparation of the production line that the display actor is paying for? This is regarding the display project. Yeah, as we have mentioned before, the display project, which is referred to, is a project where we got a contract to develop a very purpose-made package for the TLens, which will go into a display solution. On our side, we have kind of developed a package, and the samples we have delivered were actually manufactured at our mass production partner's line. Of course, there are things to be done before you go into full mass production, but that is relatively prepared for that. When it comes to our customer, they have still, I would say, not brought that product into mass production. I'm sure that they will have a job to be done before that is ready. They are focusing now on demonstrating a near-form factor prototype. This will happen as we speak or in a couple of weeks. They are then seeking for a lead customer before they push the button for doing the mass production or establishing the mass production. When is the production line expected to be ready? No, no, they're not going to. My customer will not push that button before they have a lead customer. So that is highly dependent on when the lead customer is there. Okay. There's a revenue question. What is the revenue potential of this LBS solution per unit compared to TLens? A good question. This is something we like to talk about because we would like to move up in the value chain. This is an example where we do a kind of a purpose-made, what should I say, solution for our customer, taking a bigger part of the solution, meaning it's a significant upsales or revenue up in doing this kind of packaging, special packaging solution. So that's quite an attractive business for us. So it's a significant difference pricing compared to a bare TLens compared to a package without being too specific. Has the adopter in the display project now started their roadshow? Yeah, these days. We're talking a couple of, say, a month or something. Can you talk a little bit about if you know if the actor in the display project has prepared their customers for what is to be presented and if they're ready to order? Yeah. So sometimes we join meetings with the customer. And so we have joint meetings. So we know quite well what they communicate. So they basically present the concept for their display solution, and they plan for commercialization and mass production. And then they try to align their customer expectation with their plan. So that's quite clear, yes. Okay. That was it about the display project. Distribution partner. At the capital markets in June, it was mentioned that you are working with a new distribution partner, which could be possibly presented in H2 2024. Can you give some status about this? Yeah, there's nothing new on that side. It's something we look at continuously, finding distributors for the different products. But at the moment, we haven't any significant new development on that side. Here are two questions regarding AR/MR. Are there completed POCs that you are aware of which are not proceeding to design in your latest quarterly overview? There are many POCs. What we know for sure, that not all POCs will end up in real projects. But this is something which is changing every quarter. So I can't be more specific to them. But not everything will end up in a real product, of course. Is the TLens still the only autofocus solution in AR/MR that you are aware of? Yeah, definitely positioned us very well. I'm sure there are solutions out there which also are using VCM, but the incumbent technology. But I think we have the majority of the AF solution in the AR/MR space, for sure. But what I've been saying many times, I don't think we should be naive and think we're going to be alone. It will always be competition. All the sourcing managers, they are really seeking hard to find competition. But what I can say is that we have an extremely strong position because of, I would say, the characteristic of our technology, low power consumption, no field of view change, no gravity impact, low power consumption that I mentioned. So these are key characteristics, which is putting us, I would say, in a completely different position than anybody else in the market. But I'm sure there will be applications, there will be products which don't really need all those fancy stuff, which can go with other conventional technology. But from where we're sitting today, we have an extremely strong position. Can you give a short comparison between TWedge and TLens? Are there same characteristics as TLens? Temperature, power, conception? In a way, technology platform is the same. It's polymer sandwiched between two glass membranes. It's also based on piezo. So the low power consumption coming from piezo and the reliability is still there. So the low power consumption, the speed, are basically one of the characteristics which is, I would say, similar for those two products. Okay. Here are some questions regarding PC and laptop. Any updates since the Q3 report regarding PC/laptop? Just reiterating the fact that we are looking into closely that market segment and to try to understand when there potentially will be an opportunity for AF and potentially TLens in that market segment. But nothing specifically new since last time, but we are continuously meeting the ecosystem and players in the ecosystem and do feel that this is an opportunity. But as I said, it's still early days, but has definitely shown to be more interesting than we anticipated only a few quarters ago. A little while ago, you responded to our own investor rep about the other consumer product areas such as wearables, webcams, and smart home devices, saying that these were in early phase, but that you will provide more updates next quarter. It sounds like there are activities and progress in these areas as well? Yeah, yeah. You mentioned several product lines there, but my opinion is that smartwatches, like webcams, I think will be areas for us over time. We have to also say that this is a very cost-sensitive market and I think that when we ramp volumes in market segments, say AR/MR, I think that we will also be able to kind of cost-optimize our solution, meaning that we will have better chances for those kind of very cost-sensitive markets but we are looking actively at all the, I would say, the consumer-related type accessory products and I think we should have a space in that area also but of course, it's very cost-sensitive. That's why I think that we need to ramp in other market segments also to be able to tap into those programs. Thank you. Let's see. A fellow investor found a patent showing what seems to be many TLens in a stack, which seems unusual. Have you figured out what the applicants are trying to accomplish and what kind of possibilities does this use case open up? Yeah, so good question. We don't really know, but stacked TLenses is not something very uncommon also. The Mini2P, the brain research tool, has four stacked TLenses, so that is actually a product we are shipping, and there are three commercial companies who are using that, so there's four stacked TLenses, and why stacked TLenses? That is to achieve a higher optical power so that you can go very close and far, so this is something not very new for us, but there are, of course, many potential applications for this. What this team you're referring to is targeting, we don't know, but I mean, you can think about all applications which need more optical power and which have space. Well, of course, these stacked TLenses be an approach? And space, then particularly related to the height of the stack. Okay. Regarding the stock exchange announcement on November 21st, in the last two quarterly reports, you informed that major OEMs have purchased technical samples of TWedge without issuing a stock exchange notice. Could you elaborate on why the order on November 21st was announced? Yeah, yeah. Good question. So in the one-quarter report, we kind of gathered several smaller purchase orders, which not each individual was big enough to send a press release, but it was significant when you took them all together during a quarter. So that's why we did it in a quarterly report. This one is quite a significant order. It's, say, NOK 500,000, I think it is, around. And in that sense, we felt that it was worth announcing. And also the fact that it's a well-known tier one, meaning well-known OEM, meaning product owner who is now starting this assessment, has a value for the market to know in its own. So that's why we did it a little bit differently for those two reasons. A follow-up question in the chat here. Can you tell more about the smartphone activity mentioned in Q3 where two concrete OEMs are targeted? Is this related to a selfie camera or a back camera? Yeah. I think I know what the questions relate to, so what I said is there is some smartphone activity, and there is one camera module supplier who is actually now preparing some demonstration and will do a roadshow, and they will then have a roadshow towards several OEMs, definitely two, but maybe more, and that's probably related to selfie camera. Thank you. There is ongoing activity regarding smartwatches in the early phase. Are we talking about the watches aimed at children or adults? Do you see general increases in trend in the ecosystem for cameras in smartwatches? Yeah. The thing we are, those cases we are looking into are, I would say, related to, I would say, children's watches. We haven't really seen a lot of activity or interest for smartwatches in general for, I would say, adults. It's very much children-related, which I don't understand, to be quite honest. I feel having a smartwatch, which I use a lot with a camera, will be extremely helpful when you're out jogging and out fishing or whatever. So I think it's a matter of time before that will come, and then we will be ready. Øyvind, you mentioned during Q&A at Q3 that you are in dialogue with a customer within the Mini2P vertical about an RE project where the customer needs a different curvature for the TLens. Can you clarify whether this will be used in Mini2P or another product? I'm not so sure I mentioned that, or maybe I formulated myself badly. But what I said is that we have a dialogue with a Mini2P customer which would like to have a little bit different TLens. But the difference is not related to the curvature. It's related to the wavelength which the TLens is tuned towards. And that means that we need to do a different coating. And that coating will then, yeah, impact what kind of wavelength we can transmit. So that will take some time and cost, and that customer is willing to pay for. And after that, he will order TLenses. Question here. It's amazing. It's amazing It's amazing to see how this brain research activity and products are evolving. And I would never guess that this type of activity, we started recovery, could be such a significant activity for us. And where this ends, I don't know. The good thing also is that we know we're also more and more exposed to kind of people and researchers and developers in the healthcare science. And that will also bring us into new products, I'm quite convinced. We got a question in the chat here. Is there any known use of TLens in any camera models used submerged in water, for example, in AR or computer vision solutions related to monitoring agriculture, aquaculture, farming, where high-position imaging is needed to count and track fish, shoot laser beams at sea lice, etc.? And is TLens AF usable in such low-light conditions? We actually had a discussion quite some time ago with a team for that, but we haven't really worked in this area. TLens, as long as the aperture size is, meaning relatively small aperture size, meaning relatively small compact cameras, is designed for this kind of application. TLens will fit. But often you see maybe in these kind of applications that the aperture size, meaning the opening and the sensor format, is quite big, which current TLenses will not fit. And that's also why we have this technology program ongoing to develop a bigger TLens. But current portfolio will not fit for bigger image sensors. But today, we don't have any activity on that. But we do know that there are activities and have had some interaction, but haven't started any project in this. Another question, AF camera related. AF camera is more complex to integrate compared with the FF camera. Can you give some examples on daily life use cases your customers want to solve with the AF camera in consumer smart glasses and AR glasses where FF camera is not good enough? Yeah, time will show. But there are different aspects. I remember when we first started with the case on Magic Leap, it was basically a fixed focus, which they felt they needed, and they did. And then there is something which we call athermalization, which means that in these small glasses, the temperature will increase while using. And that means that a fixed focus camera is basically not in focus at a different temperature, meaning that you have to do something to get it back in focus. And that's what we call athermalization. And then TLens can do that easily by design, but also by changing the focus. So that's, in a way, one aspect. Another aspect is that when I looked at the demonstration of the Magic Leap glasses, they were demonstrating, and they were flipping up a business card to scan a QR code to get some instructions. And of course, if you're going to be focusing infinity and focusing on a QR code close to you, you need AF. So there are many, many different applications you can think of. And not to mention AI. AI is something which is coming more and more. AI is something which is have data in, sensor in, and they're processing, and there are something coming out. And of course, quality sensing, quality images is a key ingredient for AI. So there are many, many different applications. Here are some more TWedge questions. Could TWedge potentially be used in displays? You mentioned that. Regarding the OEM consumer who purchased TWedge for 500K NOK, in which country is this customer headquartered? I don't want to comment on that, sorry. But it is a tier one OEM. So it shouldn't be too difficult to figure out. Can you give some kind of insight into feedback you have gotten from this customer? Yes. They are extremely interested. They see many different applications for TWedge. And of course, when they pay that kind of money for some few samples, that, I guess, illustrates the interest. But now they're going to start testing. They're going to integrate it into a real form factor glass and display. And after that, we will see. But so far, so good. We got some financial questions, sir. Maybe we can give Joakim a chance to answer some. Activate the CFO, yeah. Activate the CFO. the CFO. It's a really straightforward question. When will poLight be profitable? Yeah, I'll give a straightforward textbook answer to that. poLight will be profitable when the gross margin finances are OpEx. It's quite easy that way. I mean, and the gross margin, when will that be big enough to finance the OpEx? Well, that's the result of our top line and our mix of products and the gross margin on the different products. So it's hard to say. We, of course, we operate with forecasts, but we're not liberated to share those forecasts. And there's upside and there's downside in those forecasts too. Is it correct to claim that poLight needs an income of approximately NOK 200 million to be positive on the bottom line? Well, nice try. I would say that there's different ways of looking at that. And it's a variant of my previous answer, basically. Over the last year, we have seen a significant increase in both staffing and production capacity. Can we interpret this as a preparation for potentially larger orders in the coming quarters? Maybe that's for Øyvind. Yeah. So yeah, we are building this company towards the success, and we strongly believe this will come. We do what we do because this is needed to basically be trusted towards these big players we are talking to. And we need to be ready with the right products. We need to have the product today. We also need to show the roadmap for what we are planning to release in the coming, say, five years. This roadmap is super important because a customer who's going to take in your product in kind of next year, he doesn't want to do that if he doesn't see you have a roadmap and plan which fits their roadmap for the next five years. So being kind of ahead of what they need, explaining where we are heading with our technology platform, is extremely important. Of course, doing products today and doing technology developed for future product takes significant effort and resources. We need to also show that we can manufacture, show that we have a team which can really ramp when we need. Like an example, when we got the Meizu program for smartphone, we delivered 150 plus minus units in a few weeks. And so we need to be able to kind of, we need to establish the supply chain and organization around it so that people, when they do, and there's no bad customer, significant customer doesn't just place a PO. He does due diligence in what we can do on technology, on the roadmap, where are we. He does due diligence on our manufacturing processes, both at headquarters and our supply chain partners. And we better be ready. And if we are not ready, if they don't believe in what we can do, it's no project. And then, of course, we need to find these customers. We need to be out in the market. And all these take resources to achieve. Yes, of course, today, there is a complete imbalance between income and cost. But this is a little bit like chicken and the egg. If we don't do what we do, we will not be successful. So we need to take that pain now to be able to capitalize on the technology platform we have for the future successes. So of course, we don't do this to lose money. We do this because we're going to be heavily profitable at a point in time. When will that happen? When is the big project coming? I've been saying before, those projects, I think, are still a few years ahead of us. I'm repeating that. There's nothing telling me that next morning, there is a 10 million order for TLens. We need to be patient. We need to say, this is coming step by step. We are building a strong position. Sooner or later, they will be there. And of course, if you take AR, MR, which is a market which we believe strongly in, and we have a fantastic position, this market is still in the definition phase. There are still so many things they need to solve before you and me go and buy glasses. So this is something. But we are in early. We are already established in a fantastic position early, as opposed to the smartphone market where we came kind of 10, 15 years too late. Now we are in a market which everybody believes will be big, and we are there in the beginning. Sooner or later, this will happen. Okay. We can ask some related questions here so that we got live. Can you say something about poLight's internal ambitions and goals for the next two years? And how do you think that aligns with the current market valuation of the company? Again, the next whatever two years, the next kind of years, I think we're going to take some big steps. Whether it's two or three or four, we don't know. It's also given by the market dynamic. But I think that we will show that what we have done has built and has brought us and our shareholders into a completely different situation today. That's the best thing I can say. And not only in one market segment, in several market segments. poLight is restricted by strong NDAs and cannot comment on several partners. Can you nevertheless assure shareholders that ongoing projects include major and market-leading players from various geographic regions that could create significant shareholder value in the long term? Yeah. Thumbs up for those who are listening to this as audio on. Thumbs up, yes. Definitely, yes. We are heavily involved in many, many very strategic, important customers. This is a question regarding the board. We now have an entire board with zero ownership in the stock. Also, there are a few significant primary insider ownership inside Isaksen. Are you the only one with the faith in the company? Is the stock overpriced, or should the board be changed to include more active owners? I think this is a very much a private topic. I think we do what we feel that we can afford to do and what risk factor we can have. So I think this is very much a private thing. But what I can say, when I look at all the effort the people around me do, which also have shares, by the way, and I look at the dedication and the hard work they give to develop this company, that's an extremely strong commitment, extremely strong commitment. And I can tell you, this is not an eight to four job. It's not five days a week. It's basically 24/7. And many, many people in this company and management is showing that dedication. They don't do that if they don't believe. So there are many ways of believing and there are many ways of showing it. We all have different resources. We all have different priorities we need to take. That changes over the life. I'm old, so I can do more than some of my colleagues. I don't think you should interpret this situation as not believing. There is strong belief. We got a question from John here. Thank you for valuing small investors and doing this. Last Q&A webcast, you said very certain that there were no need for capital raising. However, shortly after, there was a need for capital. How come the situation changed so quickly? Yeah, okay. Maybe I have formulated me stupidly or wrongly. But normally, what I answer to questions like that is that, is there a plan? Is there any capital plans formulated? And then I'll say, no. Today, there is no clear ongoing process for capital funding processes. But what I'm also always saying is that the company will always consider when it's right to do a fundraising. And the company will always try to be earlier than later. So in a way, you can say, I always say that we raise money when we don't need money. So that's what I can say. And I don't think I've never been lying about that, but I'm expressing my like. When we start these processes, we announce. We got a question here from Daniel. In Q2 2024, you said that the laptop market has been coming and going, and also, then, of course, quickly, it can die again because that happened before. What do you feel about the maturity of ongoing projects in the laptop vertical? Is there still activity from the two camera modules players mentioned in Q2 2024? I think we commented on this already, but what I can say, laptop is, yes, correctly, I've said that. But I think that what we see now is a broader interest from the ecosystem, meaning the players in that area. And I feel also from the platform guys. So I think that, but it is still early days. I don't expect anything significant happening in 2025 when it comes to releases of these kind of solutions for laptop. But we can maybe see traces of PoCs and sampling in late 2025. But it feels like it's more hot now than it's been before. And then it can die. Yes, it can die. But at least what we feel now is that it's a stronger positive signal. TLens physical properties are superior to VCM. If when TLens smartphone world facing add-in solution is reaching high volumes, do you think TLens camera models long term also will be competitive on price compared to VCM? Extremely good question. Of course, VCM is today an industry. It's not one company. It's not two companies. It's an industry. And they've been producing how many VCMs over the last, say, 10, 20 years. So I think that those cheap, cheap, very simple VCMs, I think it will be very difficult to be as cost-efficient as that really. So I think it's fair to say that I don't think TLens or tunable optics will replace all VCM industry. I think that's unrealistic. There will always be VCM out there. I think that the tunable optics, though, can take a significant market share in several market segments due to its characteristics, but it will never remove VCM as such. Thank you. Another question from Eki. In the Q2 presentation, it was stated poLight might be in a consumer product in 12, 18 months. Is this still the case? And if so, can you say what kind of product? I'm not sure what that relates to. It could be related to AR, MR, and I think in the AR, MR consumer space, that could happen in a year or two, yes. Okay, some questions regarding your product development and market trends. Let me show. The new prototype concept for TLens seems to have progressed significantly through 2024. Can you summarize the development status and potential use cases for various concepts? TLens, Platinum, TLens Diamond, TLens Micro, various small package add-in concepts. So there is one major program today ongoing, which is about making a TLens bigger, meaning fitting bigger image sensor. And that is, I would say, the biggest activity at the moment when it comes to a new version of TLens. That is progressing well. But however, it is a super difficult project. It is very demanding. And our technology likes to go small. So making a TLens micro, for which we one day, I am sure we will, for endoscopes or for AR, MR space, there will also be very small, small, small lenses. That will be much easier for the technology. So when we go to bigger TLenses for backcam, smartphone, for industrial machine vision cases, for automotive or what have you, we need to actually make a TLens which has a different, I would say, activation methodology. And today, we do thin film, Piezo, MEMS for activation. For those bigger TLenses, we need to think differently. But the concept TLens, glass membrane, polymer in between will be the same, but different activation, different design. Super difficult, super interesting, good progress. Many application areas. That is the main activity, I would say, on TLens. Then when it comes to existing TLens, we also do, I would say, activity which we try to make existing TLens more usable, more easy to integrate, more cheaper to integrate. And that is the kind of the way we package TLens and the way we do reference design, how to include TLens in the lens stack. That is also a significant activity we do. But that is not new TLens. That's basically new packaging and new reference design, how to do it. There we already have, as I mentioned in Q2, we already have a few cases where we are actually already in a customer PoC where we do this special TLens packaging and add-in integration, which now is actually all the way. It has passed lens maker. Now it's been shipped to the camera module maker, which is actually built the first cameras, which is now shipped to the OEM. So those are more not new TLens, but new kind of packaging for easier integration. Thank you very much. Diamond and Platinum are basically, in a way, I would say, today replaced by what we call a bigger TLens project. So they are all now, in a way, combining that. Thank you very much. I think we are. Just another question, Ubayd, just so that we know. I'm not sure how many questions are left, but we can answer questions written, right, if we don't manage to get through all of them. Yeah, this is the last question. All right. Okay. Great. Come on. Bring it on. Do you believe that the new products or prototypes from external partners with poLight technology will be exhibited at CES 2025? I think there will be probably some kind of technology demonstration, at least, but when I say new products, I would say that between now and January, there will be, I would say, no new products being launched the way we see it, and if you look at the Q3 presentation, there is a likelihood of that is expressed as low, but there could be partners who are showing technology from poLight in their booths. That could happen, and we, of course, we will be there and demonstrate our technology and OEM products. Okay. Can we just take the last question, Joakim? Yes. It's for you. Joakim, we have got to know that you have expertise within debt funding and have a bank network. This is not a financial solution poLight have used yet. Do you think poLight have used for this expertise going forward with the ongoing growth? I understand the question. I would say that from a pure debt perspective, poLight is probably not bankable quite yet. But there are other types of debt instruments that can alleviate value chain funding, supply chain funding, which will be considered on an ongoing basis. There are different types of debt instruments that you can use. But I would say that the main sources of financing for poLight in the coming years are the two main sources of financing. It's customer financing and it's equity financing. Thank you. I think the question we haven't got the chance to answer, please submit them on PoLight's profile at the InvestorWeb. You can also submit the question through PoLight's website. We have integrated the investor profile on their website. And Øyvind and Joakim, do you have some last words? Yeah, I just want to thank you both for me and Joakim. Thank you all for this, I would say, extremely high interest in poLight. We work extremely hard to create shareholder value for you guys, and we will continue to do so. Your interest in poLight is something which is motivating us a lot, and even though there are questions which take time to do, I think that clearly that interest which poLight has managed to get through many, many of you, which are extremely competent on this case, is something which is extremely important for us in all aspects, so thank you so much, and thank you for attending tonight. Okay. Thank you, guys. See you next time. See you. Bye. Bye-bye.