Okay. Welcome everyone to the Q1 2022 presentation for Play Magnus Group. I'm Andreas Thome, the CEO of the company, and with me today is, as always, Dmitri Shneider, our CFO. First, I will share some business update, recent developments, before Dimitri takes the financial section. We will also have a Q&A in the end. This was again a quarter where we made real progress in our business. As we communicated on Investor Day in February, Q1 should be our strongest quarter ever for bookings, and we achieved that with a big margin despite that the courses segment was a bit weaker than anticipated. Bookings for Q1 was $8.1 million, which is up 53% year-over-year. Revenue for Q1 was $6.1 million, which is up 33% year-over-year. The average monthly paying users was approximately 63,000, or up 7% year-over-year. Our PPU was $19, up 8% year-over-year, and our EBITDA was negative $2.5 million USD, which is actually a big improvement from Q4, almost 34% better. Cash at the end of Q1 was close to $25 million. We are a fast-growing company, and we have to remember that if we look back at 2019, we booked $3.6 million for the full year. In 2020, we made $9.3 million, and last year when we really started to ramp the business, we ended at $24.5 million. Based on the solid start this year, we are already at a run rate of more than $32 million, the company keeps on growing and growing well. Play Magnus has built a successful growth business. We have scaled our revenue streams significantly over the last years. Now, short term, we will prioritize to lower our cost base. We believe this is very important to be able to build a strong foundation for the future long-term growth. We have a solid cash position in the company, but getting closer to profitability is obviously more important now given the current macroeconomic climate. You should notice that we have already reduced NOK 2 million of annual cost savings in Q1, and we are planning for more actions both in Q2 and in Q3. We are de-risking the business a bit now as we see that the courses segment was a bit slower start in 2022 than what we anticipated. Before we go into some of the recent developments, I will recap a bit of our strategy. The chess opportunity is real. There are hundreds of millions of players. It's rapidly moving online, and this is a young and global audience. We are still in the early days of the development of this market, and over the last couple of years we have seen that chess creates real opportunities, specifically inside the areas of e-sports and e-learning. These are the two areas that Play Magnus has built significant positions. These are the two areas that we have invested in. Over the last two years, we have built a very valuable e-sports business from scratch. We have a large growing audience. We have a leading broadcast, global partners, and the best players in the world all making up the Champions Chess Tour, which is a real vertically integrated e-sports play. We have also become the established leader in chess education. We have an engaged growing customer base. We own the largest library of content, which we are digitizing. We have a network of authors that are creating unique content, and also the U.S. scholastic market opportunity is big, and we have got in position to capture that. Our tech and product teams are really on fire, and we are continuing to drive innovation in the chess space. In Q1, we have launched a community-based chess feed in one of our smaller services. This is an area where we see much potential, and we want to deploy into more users. We're also continuing to push the boundaries of how chess can be seen as an e-sport. All the innovation we do with our e-sports studio and broadcast is really taking chess entertainment to the next level. We have a lot of learning material, both from the acquisitions we made, but also all the content that we have created on Chessable. One big focus area for our product teams is now to create auto-generated paths guiding users to the most relevant content. We have also done a lot of innovation in digital tools, bringing online and offline chess learning closer. One example of this is Chessable Classroom, where here we can see Peter Leko giving a class to some of our students. When you own so much IP as we do, you need to maximize the value of that. Traditionally, what we have done is that we have digitized chess books. Now, we actually also see that original chess courses that was created digital are now becoming print books, and these work off each other. Here we can see a title from Judit Polgár, which started off actually as a Chessable course. Another very, very exciting project in Q1 was the rebranding of the Silver Knights into Magnus Academy. This is giving opportunities for thousands of kids to learn chess in the best possible way. In Q1, both Magnus Carlsen and Judit Polgár participated in events motivating these students. This business had a very solid performance in Q1, and we're also exploring more ways to scale this further. This business is obviously also benefiting from the world opening up again after COVID. Another fundamental part of our strategy is collaboration with ambassadors, and we recently signed with Anish Giri to be a Play Magnus Group ambassador. Anish is not only one of the best chess players in the world, but he's also very engaged and popular on social media. As part of our engagement with us, Anish will create more Chessable courses, he competes regularly in the Champions Chess Tour and markets that, he streams on chess24, and you can also see that he wears our logos during events and is really good at supporting us in partnership activations. We are all very pumped up that the tour is running again. We are in the second full season. We are supported by amazing partners, and as you can see from our Q1 report, we signed some very serious long-term contracts in this quarter. Our pipeline is also continuing to develop, and what is interesting is that we have many more segments to fill, so it's not that we are running out of opportunities to work with more partners. We are also now going to bring the tour around the world and have more hybrid events where our fans can meet players in cool locations. There's also going to come some exciting announcement here soon, and we are continuing to push boundaries here with, together with our partners. As a response to Russia's invasion in Ukraine, the tour partnered with UNICEF and their foundation to organize the Charity Cup back in March. We raised close to $160,000 from players, fans, and partners, and the tour really became a platform where partners could contribute to this cause in a meaningful way. As an example, we had the Chelsea football star, Christian Pulisic, playing the AI of Magnus 10, while Puma was donating $500 for each move that he survived against the 10-year-old Magnus. With the Oslo Esports Cup in April, for the first time the tour brought all the players together to compete in the Oslo Esports Arena. That happens in our studio where we normally produce the tour. The opening ceremony was held at the Neoo House in downtown Oslo. I was there myself, and this was a great experience for everyone to get so close to players and really get to know them better. This is what we need to continue to do to bring awareness of chess to a wider audience and also create activation opportunities for partners. We really have a world-class team in Play Magnus Group to pull this off. Right now, we are in the final stage of the Chessable Masters. This is one of the events that we brand with our own services, using the tour to promote Chessable. Here we are working, the whole tournament works on a theme of chess openings. We're capturing these activations via stats in the broadcast, showing what are the most important openings. We make social media campaigns around favorite openings. We do broadcast content, and all of the Chessable opening courses are currently running on sales. What is interesting with this concept that we have created in the partnership between the Champions Chess Tour and Chessable is now also half of the players that are playing in the actual tournament have their own Chessable courses. Before handing this over to Dmitri, I want to mention two other things. First, earlier this year, we were recognized in Financial Times list of the 1,000 fastest growing companies in Europe last year. Second, as chess is very popular also in the US, and we wanted to make it easier for US investors to both discover and invest in our company, we also recently started to trade on the OTCQX marketplace. With that, I will give the word back to Dmitri, and I will come back for the Q&A session. Great. Thank you, Andreas. The quarter, of course, you know, in our key KPIs, which I'll talk about on this slide, is the story here is bookings. You know, bookings grew 53% year-over-year and 14% quarter-over-quarter, led by record tour partnerships. In tour partnerships, we had several sizable deals leading to a record $3.9 million in booked revenue, and importantly, most of which we expect to recognize in accounting revenue in 2022. E-learning in the courses segment had a more challenging quarter in the first quarter after a record Q4, and that can be evidenced, you know, in the more subdued monthly paying user growth of 7% year-over-year. Going deeper into bookings, it was $8.1 million of which partnerships were $3.9, or approximately 50%. Several large deals comprised the vast majority of the partnership, the book partnership revenue, and importantly, this was a mix of new partners, as well as deepening relationships with existing ones. Of course, we don't expect every partnership quarter to be of this size, but pipeline and progress are so far looking good for Q2 and the rest of the year if things continue the way they are. Courses, on the other hand, had a more modest quarter. Up 17% year-over-year, but down 21% quarter-over-quarter, versus a record Q4 though. It's tough to pinpoint any specific reason for the slowdown, as from the team side, it's been mostly business as usual. Certainly it seems like we're not immune to the various macroeconomic factors that are impacting consumers in online spending. We do have many initiatives to try to counter those factors, where we think that that should come in full force later in the year. Subscriptions were flattish year-over-year, as new initiatives are still early in their contributions. We have really good expectations for those over the medium and long term. Looking at organic growth, it's kind of similar to what I've been speaking about. It's been strong, but mainly led by the tour segment. Organic bookings up 49% year-over-year. The repeat and recurring with courses and subscriptions was down slightly, about 5% year-over-year. The tour, on the other hand, contributed NOK 2.5 million, leading to 49%. The acquired companies, and we include iChess here, even though it was acquired at the end of 2020, had a modest contribution led by Magnus Academy, formerly Silver Knights. Going deeper into the tour partnerships, as Andreas talked about, in Q1, we had lots of really great partners. Animoca on the NFT and Fan Token side. We deepened our relationship with FTX. Puma, of course, is known to everyone. NEAR, and several others are in the Q1 bookings as well. Importantly, on the recognition side, for those that are looking at the model, out of the NOK 3.9 million, only a small portion was actually booked in Q1. Out of the NOK 1.8 million revenue that was recognized, only a small portion came out of those NOK 3.9 million. The rest came from bookings from last year. However, from this NOK 3.9 million in Q1, we do expect the vast majority of that to be recognized as revenue in the rest of the year, and collect the cash the rest of the year as well. On the slide here, monthly paying users grew modestly at 7% year-over-year, but we're down 3% quarter-over-quarter. Certainly, this is a bit slower year-over-year growth than in prior quarters. I think, interestingly, traffic in registered users at Chessable continues to show promising growth, yet the conversions to monthly paying customers appear to have been slower in Q1 versus in Q4 and in prior quarters. That's something that we're looking into really closely. There are many initiatives that the team has been working on, not even just in Q1, but prior to Q1, to improve retention and encourage user growth, and that should start having an impact over the coming quarters. In other areas, Magnus Chess Academy is showing user growth as after-school programs are seeing increased demand in a normalized post-COVID environment. We're quite happy with the integration of the company into the Play Magnus Group. So more to come over there. Subscriptions, as I mentioned previously, we haven't seen a lot of impact yet from new product initiatives, like the Playzone or some of our other newer products. But there's a lot in the works here. Looking at the average spend by paying users, it remains at very healthy levels. It's about $19 per paying monthly customer. It's slight growth year-over-year, slightly down quarter-over-quarter, but Q4 is always our highest ARPU quarter. We're quite happy with this $19 level. The reason for it staying here is continued kind of improving product mix as, year-over-year, more people purchase courses relative to the subscriptions. Looking at profit and loss, profitability is improving. You know, this is something we've talked about for probably since we listed, when you know, when people ask us, "When are you gonna be profitable?" We said, "Towards the end of 2022, and we should start seeing the positive impact in Q1 of this year." I think we're seeing it. Revenue was NOK 6.1 million. It grew 32% year-over-year, though a slight decline versus Q4. As I mentioned before, you know, the ratio of booked versus recognized for the tour was only 50%. Over the coming quarters, we will recognize more of this tour revenue, giving more visibility on the revenue portion for that segment. Aside from revenue, you know, adjusted EBITDA improved significantly at negative $2.5 million versus negative $3.7 million in Q4, an improvement of 34%. This was mostly a function of lower operating expenditures, which was down from $10 million in Q4 to $8.5 million this quarter, an improvement of 15% quarter-over-quarter. Essentially, for those of you that have been following us for a while, the cost base is actually quite similar to Q1 of last year, but with higher revenue. Looking at, like, the improvement in other OPEX in a little bit more detail, we have started a cost program in Q1, although only some portion of that is visible in Q1. Most of that will be visible in Q2. As you can see here, the labor costs, which is an employee benefit expenses and consultancy fees, has actually improved quite a bit. We also saw the removal of the one-off costs from the world championship, as we guided previously, and that's been slightly offset by the beginning of the tour which, of course, we didn't mostly have in the fourth quarter. Lastly, the cost of goods, the course content subscription expenses are lower versus Q4. Now of course, part of that is in grade because course revenue was lower. At the same time, the margin actually did improve versus Q4 and Q3. A lot of those initiatives that have been taking time are starting to pay off. Talking a little bit more about the cost program, that should save us about NOK 2 million costs annually, about NOK 500 a quarter. Much of that impact will be visible in Q2. We did take a restructuring expense of NOK 465 thousand, and that is separated out in the other expenses line item here in the P&L. Talking a little bit more about our goals for the rest of this year. You know, we are committed to reaching break-even adjusted EBITDA run rate by end of 2022. You know, and firstly, to echo what Andreas said, we're really proud of scaling our business to the point where revenue in Q1 of 2022 is nearly six times the revenue that it was in Q1 of 2020. You know, throughout all this fast-paced growth, throughout all those acquisitions, you know, there's certainly a lot of room for efficiencies and optimizations. That's kind of been our plan all along, that we would start making those, and we have. You know, we've made a lot of progress on the profitability in Q1 of this year. We expect to do more through the end of the year. We've been following our plan. The one thing I would add that has potentially changed somewhat is the evolving macroeconomic conditions. It seems like there's potentially more uncertainty, and so we believe it is prudent to de-risk the path to profitability further by taking additional actions sooner than later. Just to summarize some of the actions that we've taken in Q1 already, which should lead to NOK 2 million annual savings, we've centralized all the chess24 tech resources under one team in Poland and announced the closure and are closing the German office which had some of the remaining members of the original tech team. We've also been streamlining the IT teams at other group companies as well. We reduced expenses on the local language teams at chess24, especially in those areas where the returns did not meet our internal threshold, and have shifted to more of a streaming model with lighter upfront costs. We've also taken initiatives to centralize some of the teams and people where there are similar functions, like for example, within chess24 on the content and operations to improve the integration. This is just the beginning. There's certainly a lot more of that we can do. Going forward in the following quarters, we plan to do more to become self-sufficient. We're gonna be evaluating all our projects in all our areas to make sure that the returns meet our threshold and that we're as efficient as possible, make sure that we're optimizing all our resources, especially in the, you know, companies where we have invested significant resources. We'll also be doing things like closing down, you know, entities that are perhaps unnecessary from a legal corporate perspective, and also introducing things like accounting systems to better streamline finances and other operations, and we've already made a lot of headway in that. This is something we're certainly gonna be doing a lot more of in the coming quarters. Talking a little bit about the balance sheet. You know, we continue to have a strong cash position with nearly NOK 25 million in cash as of year-end. Just to highlight a couple of points here. You know, because of the big tour partnerships, you know, we have a rise in accounts receivable and other current assets of NOK 500,000 and NOK 1.2 million respectively. If you look on the next page, we have an increase in the current deferred revenue. You can see that here. We've done a lot of kind of, you know, last quarter in which we talked about we had a big benefit in the working capital adjustment. As we expected, we saw a reversal of that, so we paid down some of the other current liabilities and accounts payable in a total of around NOK 800,000. That includes things like royalties from Chessable and Everyman and some other obligations from Q4. Of course, you know, that's something that we don't expect every quarter. Those things will always kind of like balance out from quarter to quarter. Looking at the cash flow, of course, even though it feels like forever ago, we did receive $10 million in financing cash flow due to Breakthrough Initiatives' investment in January of this year. Certainly, that is boosting our cash reserves and giving us a good buffer to get to profitability by year-end. As I mentioned about the working capital, we had some of those adjustments which we talked about before. With that, I think I will summarize in saying that we've had a record Q1 in bookings led by tour partnerships. We've made significant progress on profitability in Q1, and we will be doing more in the coming quarters. We're really proud of the growth that we've achieved to this point, and there's really many exciting initiatives that we will start seeing this year, medium term and long term, that are yet to come. With that, we'll open it up for Q&A. Thank you, Dmitri. We welcome anyone in the audience to submit any questions they may have in the webcast player. We'll start with our first question from the audience. Do you foresee any impact from the Candidates Tournament upcoming soon? I mean, Candidates is extremely exciting. You know, I think that's, it's maybe more exciting this year than it has been for a long time. Some top players there. chess24 is obviously going to cover it. You know, with, we're planning to have, I think, Jan and Judit Polgár as our commentators, which I think will be very, very popular. We are also planning to do a lot of different marketing activities. Yeah, I mean, this should be. It's a great thing that that's coming up now in June. Okay, we're going to move into some cost questions. The first one comes from Petter Kongslie from SpareBank 1 Markets: Can you break down the $2 million cost savings? Yeah. It's a lot of that is related to the labor costs, you know, optimization between the different teams. I think we'll see more of that in the consulting and employment benefit lines. There's also several like overhead costs with respect to just watching various expenses a bit more closely that we've certainly tightened up the belts on that. Our next question here: Can you tell us something about the consultancy fees? Why are these relatively so high? I mean, we're a global company. We've, you know, Chessable started remote first, as has chess24. You know, these consultants, a lot of them, most of them are working, you know, on a regular basis, you know, 40-hour weeks, and they're just in different countries where we don't necessarily have a full payroll. You know, we should look at them as part of the labor cost. Next question here: When do you expect to be cash flow positive? I mean, our goal is to do it by year-end. Break-even run rate, unadjusted EBITDA, which should be very close to cash flow, you know, by year-end. Whether we get there on cash flow in Q4, that's gonna be our ambition, and we're gonna try to do it the sooner the better. All right, we will move forward to some questions from Øystein Lodgaard from ABG: Did you have any effect of the $2 million cost savings program in Q1, or should costs improve by $0.5 million quarter-over-quarter in Q2? Most of that will be in Q2. There should be a little bit of impact in Q1, but the bulk of those changes kind of came at the end of the quarter. Another question from Øystein: Should we expect more restructuring expenses to come in future quarters? I mean, I think this is not unlikely. I mean, we are definitely looking at, you know, carefully at all parts of our business. We have invested a lot over the last years, and we have also acquired many companies. I think Dimitri mentioned it before, is that we have always known that 2022 was going to be a year where, you know, we need to focus on streamlining operations. Yeah, I think, like, the environment that we're in right now. We are of course very glad that we had that in our plan, that we have been preparing ourselves for this. You know, the current environment makes it very important to have such a plan. I think it's possible that you will see that also in the coming quarter or quarters, yeah. Continuing with some cost questions. You spend NOK 10.6 million per year on consulting fees. Can you specify how much of that is directly related to product and content? I mean, we are a content and tech company, so, you know, a lot of, I would say, the vast majority of that is related to that. It's not 100%, of course. We have operations, and we have administrative costs. Certainly, you know, we have very developed content and technology teams. Some- that we've invested a lot. Yeah, some of the tour. Tour is content. Yeah ... and operations. Yeah. Okay, we have a few questions here around the KPIs. Firstly, what is the reason that monthly paying users and ARPU dropped from Q4? I mean, ARPU Q4 is always gonna be stronger because there are holiday sales and various initiatives, so it would be always prudent to model a slight decrease in Q1 for that. The monthly paying users is slightly a different story. I mean, of course we were anticipating higher than this. It's difficult to pinpoint a specific reason. You know, for us, it's been business as usual. If you look at traffic for Chessable and the registered users there in Q1, it was actually quite good. It's actually been improving versus Q4, so the conversions just became harder. Of course, we're looking and analyzing whether it's something that we did. Also it seems like perhaps there's definitely some impact from the external conditions. Another question here: Why is the booking to revenue margin lower than Q4 2022? The conversion? Because we had a very significant tour booking in Q1 of NOK 3.9 million, and we didn't recognize most of that revenue in Q1 because we still haven't delivered those services. Mm. That's the vast majority, because that conversion on the tour segment itself was 50%. Of course, that should become much higher next year, and that will drive the rest of the conversion ratio for the coming quarters. That should definitely improve, unless we have some really outsized bookings, which would be a really great thing. Another question here: How has courses developed during the quarter? Did the slowdown begin towards the end of the quarter, or was it more evenly distributed? I would say January was kind of in line with our expectations, maybe slightly worse, but nothing out of the ordinary. Then right in the middle of February, we started to really see some impact, you know, kind of early to mid-February, which did coincide with the war, but it's difficult to say that that's the exact reason. Certainly since then, it's been quite stable around those levels. I mean, the trend hasn't worsened, so it's like it's also like it was a bit that, you know, from February, we saw that, like, it was overall a bit slower on that segment. Which of course we also see, we obviously follow reports from other companies in the industry, say, e-commerce industry or, you know, people selling digital content and, you know, there are companies seeing the same similar trends. A related question here: How has the development been for courses and subscriptions so far in Q2 compared to Q2 last year? I would say, I mean, compared to Q1, it's been quite similar, so, you know, you can make the comparisons. Okay. Next question from Øystein: How has the Playzone developed in Q1? Yeah. I mean, again, as we said before, you know, this is an initiative that it has taken us a long time to develop, and you know, we are still not fully there. We have a great team working on it, and we see progress. You know, like April was better than March. We see that the pairing time, so the time to get the game, is improving, which is very important if you want to grow. We see that the number of games played is increasing month-over-month. You know, so we are seeing positive signs and, you know, we have a good team working on this. I mean, this is again, of course, an area where when we crack the code, it's a massive opportunity for us and you know, we will not give up before we succeed in this area. How is the rest of your product roadmap for 2022? Yeah, it's strong. I mean, we have had, you know, a lot of developers working now for the last, let's just say at least, you know, more than one year since we started the ramp of the company. You know, chess24 is on full steam. They are building out more some exciting community engagement services, which is going to be released later this quarter. Chessable, you know, they have all of their content. They have, you know, publishing so many courses. Chessable is focusing a lot on creating learning paths, content recommendations for users. It's a big area for them. We're also planning now for a revamp of our app suite, Play Magnus App Suite, for the second half of the year. You know, we have particularly a very strong product pipeline, and you know, we have teams fully functioning, development teams with strong product leaders in each area. How are you planning to expand in the U.S. with Magnus Academy? Yeah. That's a great question. You know, we're very happy with the kind of like stages of integration post the acquisition. The first step was for the team to really retake all their students and their schools as COVID started to normalize. That's basically been happening, and demand has been really great, especially some of their competitors didn't make it necessarily through the downturn. The second stage was to rebrand to Magnus Academy and start offering additional features with appearances by people like Magnus and Judit and Anish. Now we're evaluating the different areas and ways of expanding, and there's no concrete strategy that has been decided because we're still so early in this. What I can say is the next stage is to figure out how the technology component integrates, so how the team will teach through Chessable Classroom, and perhaps combine with the Play Magnus App Suite because that's a product for beginners, as well as look at different areas geographically where we already have very strong relationships and try to really make partnerships there and apply for contracts where the full value proposition of the Magnus Academy is truly visible. For us, this is certainly a long-term plan. You know, once we get this right, this is a NOK 100 million+ opportunity, and we're taking it step by step to make sure we do it right from the beginning. All the pieces are falling into place, and we have really high hopes for this business. Yeah. I mean, it's important also to say that, like, we know that the, as we say, kids market or scholastic market, specifically America, is extremely big, but it's also big outside America, and there is nobody that has really taken a position there yet. We, of course, are aware that this is a massive opportunity. We have taken the right first steps, Dmitri says, but, like, this is one area, a market which is we can just work on for years and years to come and continue to build a very, very solid, sustainable business. Our next question, in Q1, you parted ways with Chief Product Officer Gerald Tan. What does this say about the development of the Playzone, and are you recruiting a replacement? Like, Gerald Tan, he was with us for 18 months. Gerald did a great job in the time he was there. He was needed for the phase that chess24 was in, that really motivated him to work on. He was good at, like, kicking off those activities. I think when we looked at our plan for 2022, where we moved more into operations, gradual improvement of the product, then we decided with Gerald Tan that, like, it was the right for both parties to actually depart from each other. We remain very good friends with Gerald. He's still, you know, available for us for consulting. He was actually consulting a lot for us before he joined. He was consulting for Chessable for years. You know, there is absolutely no bad blood between us at all. We have a very senior team in chess24 on the technical side today. What we have done is that we have also appointed one person that has been leading Aimchess, Anton Gora. He is temporarily now also managing chess24 because we see big synergies between the Aimchess products, the chess24 products, and some of the other companies that we have acquired. You know, chess24 is in his best hands and, you know, that team is really on fire today. Next question. How is your Chessable revenues compared to the revenues the chess24 platform generated in Q1? Chessable is the dominant driver in that revenue relationship. Of course, Chess24 is highly relevant and gets significant traffic and contributes to the traffic to other group companies. From a revenue perspective, Chessable is where we monetize the best in the group. That can be easily seen by looking at the course segment versus the subscription segment. Another question here. Is there a strategy to apply a free-to-use model for schools so the schools can offer these models to their students, aiming to bring the students into the Play Magnus ecosystem with the goal of further upselling? Yeah. I mean, we're looking at all these kinds of different models to see what makes the most sense. I mean, Chessable Classroom is already free, so there's a lot of coaches that are bringing their students and using the Chessable Classroom. What we're trying to just understand is how can it all fit together and add value to those schools which already have chess programs, and we can add more value, as well as areas that don't have a chess program, what kind of packages we can offer to them in the most scalable way. All those different kinds of ideas are on the table. You know, we're looking at partnering with daycare centers. We're looking at establishing our own distribution channels, you know, partnering with local providers of schools. Like, all of that is still on the table, and we're going through a very deep research, analysis here to try to find the best value proposition. How do you see the segment split between courses, subscriptions, and tour evolving in Q2 and the rest of the year? I would say in Q2, on the booking side, you know, we don't expect the tour to have a similar kind of a quarter as today. On the revenue, it should be pretty similar for Q2. For the rest of the year, you know, I think it's kind of basically should probably be roughly around those levels. We have a follow-up question to Andreas' former response. Is Anton Gora AimChess also working with the Polish team now? Yeah, of course. Next question. Have you seen any impact from the U.S. transactions from OTCQX? I think it's too early to say, because just the way we look at volumes, we also have to see, you know, look at it on a more longer-term timeframe and see if there are US accounts that are popping up in VPS system. I think it seems like there's maybe a little bit of impact, but it's hard to say at the moment. That's something we'll be looking at much more closely and try to give an update when we see something tangible. All right. Thank you. I think that is all the time we have for questions, so thank you to everybody who sent in questions and tuned in today. If there are any further ones, please feel free to reach out to ir@playmagnus.com and we'll endeavor to get back to all questions via email as soon as possible. I'll now hand back to Andreas to close out the presentation. Thank you very much for joining. Thank you for all the good questions. I mean, we are here. If there's anything, please contact us. Thank you so much.