Good evening, and welcome to this investor update and Q&A with 2cureX. With us today, we have the management team represented by the CEO, CSO, and CFO. 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 many questions on Stokk.io for the Q&A, which we appreciate. The Q&A is still open so that you can submit questions live as well. I will now hand over the mic to 2cureX for the live presentation. Your line is now open. Yes. Thank you. Thank you, Anders, and good evening, everybody. Yeah, this is the agenda that we are going to cover today. We're going to speak about the development of our commercial pipeline, as we have done in the previous, in the previous quarters. Then, the preliminary Q3 results based on the goals that we have published. We will focus in the strategy update. There will be a few comments about our strategy update that we have released, a press release this afternoon. We hope that we will make this presentation, and if there are any questions related to the strategy update, we hope you can make it through the system. So, commercial-- starting with the commercial pipeline development. We have, as of now, ongoing conversations, discussions in different degrees of maturity, as we have already mentioned in previous presentations. We've, at this point, or rather at the closing of Q3, 246 hospitals in 26 countries, across Europe and Middle East. This is 98 hospitals more than in January first, and this is 45 only in the last quarter. Last quarter, you might remember, there were questions about what has been the impact of the participation in ESMO GI. So 45 in the last quarter means that we have done in the last quarter, more or less the same amount as we did in the two previous quarters, that were already very good. That is the impact of ESMO GI. ESMO GI happened at the beginning of July, and this is where we are. From these hospitals, 32 are in the IGNITE program. In case somebody is curious, the top three countries, in terms of number of hospitals in this 246, are Poland, Spain, and Germany. In terms of growth, since the beginning of the year, they are Switzerland, Poland, and Germany. Now, I want to emphasize that access to 246 hospitals is a unique asset. There is no other company in our space that has anything similar. The distributor network has allowed us to establish this presence in all these hospitals in record time. Although it has not yet unlocked sales, as we all know, but it has provided deep insights into the real-life challenges for the mainstream use of functional drug sensitivity testing. It is one thing to use a technology in the context of a clinical study. It is a totally different thing to use it in the context of real life. So we will, I will share some of the, some of these, learnings, because they are also related to the strategy update that we have announced. The important thing is we have confirmed firsthand that there is a need, and there is a wish by the oncologist for tools that support their therapy decision-making. They have to make therapy decisions on a daily basis, and they are blind. They don't have any tool, they don't have any diagnostics, any biomarker that helps us—helps them with that. We have confirmed this in the market survey with a huge interest. We have confirmed it in hundreds, literally hundreds of face-to-face discussions, conferences like ESMO GI, and we have seen it in the evolution of the pipeline that I just shared. I mean, 98 hospitals in three quarters. And also, we have confirmed that with... from the feedback from those that have tested IndiTreat under the IGNITE conditions. So and this is the most important thing, because when you're launching a new technology, you have to make sure that, that there is a real market there. And the answer is absolutely yes, there is a real market here. Now, what we have also learned is that the business model of sending samples to a central lab with samples that are very complex because they are living cells, these samples of fresh, fresh tissue are living cells, that this is the main hurdle for adoption in routine clinical practice. It is disrupting... Sending samples to an external lab disrupts internal hospital workflows. They are used to, in most countries, they are used to sending the samples to their internal labs. The sample transport conditions are complicated. You have to keep it in a certain controlled temperature, et cetera, et cetera. There is safety, air transport safety regulations that are complex. There are the cost of sample transport, et cetera. All of this, as I said, explains this endless transition. I mean, we are all losing patience with this. When we see the pipeline and we see the huge interest at the beginning of the pipeline, but then how long it takes to transition from this interest to, "Yes, they are sending samples," it takes forever. And the reason why it takes forever is exactly what we are telling you here, the disruption of internal workflows and also the complexity of the sample logistics afterwards. When we talk about this internal workflow, keep in mind that there are at least there are four different departments in the hospital that are involved in sending a sample to our central lab in 2cureX. There is oncology, there is radiology, there is pathology, there is surgery. All this internal complexity is hindering the mainstream adoption of IndiTreat. This is also reflected in the development of our metrics that we have been measuring as goals for 2023. Starting with revenue, what you see here is that we have... When it comes to revenue that comes from grants and other sources, it is more or less according to plan. The plan was SEK 2.4 million. We are at SEK 2.25 million, and the only reason for this is that, as you know, we get the money based on reporting cycles, and then, I mean, it's not always that the reporting cycle coincides with a quarter, but it's perfectly online. The revenue from sales is now accumulated SEK 190,000. Although it is almost double what it was in the third quarter, doubled compared to the second quarter. We were in the second quarter at SEK 65,000, we are at SEK 190,000 now. This is positive if you want, but obviously it's disappointing, as far as we are very far away from the original plan. Overall, anyway, because this is important in terms of our cash management, et cetera, we are 36% down on the revenue plan. When it comes to the number of samples, we have received 36 samples in Q3, total of 100 samples during the year. Now, when we set the goal, at the beginning of the year, I have explained that already, but we envisioned a couple of clinical trials that should start in the first quarter. These clinical trials, we delayed. We delayed because of cost containment, measures and budgetary restrictions. We have been extremely, extremely cautious with our burn, and operating expenses in this quarter or sorry, in this year. So, we, we said in the second quarter that we will, we will move forward with this, with these clinical studies in the third quarter. Both clinical studies are under the assessment of... So the documentation have been submitted. They are under the assessment of the ethical committees of the hospitals, but they have not been totally approved, and therefore, they have not yet start sending samples. I will mention it once again, the IGNITE program is extremely slow to move forward from the phase when the oncologist express interest to using the tool when we start receiving samples. And in some cases, even when the oncologist is saying, "Yes, I want to use it," they are not able to unlock this internal complexity, and we never get to receive the samples. Overall, considering this and considering the clinical studies that have not started yet, we are 67% down on the... Sorry, not the revenue plan here, on the sample testing plan. And finally, we had this goal related to the development of the geographic rollout, the country development. We had planned to increase from the original 20 all the way to 25 during the year. Considering the slowness in the sales development, considering the slowness in the sample shipment collection, we decided to deprioritize this, and for the time being, there has been no progress since last quarter, but this is totally intentional. I mean, we had the candidates, we had the conversations going on, but we thought we wanted to pause this because we needed to reassess our whole strategy, our whole strategic direction. This is what we have done. In the last months, and more intensively in the last weeks, we have been assessing what's happening and what our strategy was, and we have decided to leapfrog. And I mean, I know this is a word that might not be familiar for everybody, but basically what we mean here is that in our original roadmap as a company, we always had that we would start with the centralized lab model, being a service provider, receiving the samples there, testing and sending back. That we would establish a certain commercial activity based on this model, and then, and only then, we would transition to a decentralized model. You know that the automation project, which where the intention is to develop a system that can be placed in the hospitals, this has been our intention all the time, but it was like a next step. And what we have decided is that we are going to skip the current step, and we are going to fully focus in the decentralized model. For the reasons that I mentioned before, we came to the conclusion that this disruption to the hospital workflows and this sample logistics are making the current model not suitable for mainstream use. And this is very important because if we continue to use resources and efforts in unlocking samples and getting samples with the current model, we might be, I mean, certainly, we are not making the most efficient use of our scarce resources because we know now that this is going to generate some sales, this is going to generate some marginal sales, but this is never going to bring us to mainstream sales. So the focus is going to be going forward in accelerating the development of the automated system. A system means an instrument, reagents, consumables to go with the instrument, and the software that governs the instrument and controls the generation of the final reports. This instrument has to be able to—has to be placed in a standard customer lab anywhere in the world. This is very important. With our with the previous model, we are restricted to countries that can ship within 24 hours a sample to Copenhagen. That was always a hurdle, that was always a problem. With the decentralized model, we are jumping straight into being a global player. We are convinced that because there is this huge interest, so there is this latent demand, if you want to call it like this, in the hospitals by the oncologist for this type of test. The first one that is able to provide such a test in, in the right conditions, meaning that it can be tested in-house, will have a huge—will, will take the most of the market because it will take a huge first mover advantage. It is our goal, it has always been our goal, to build a global leader position in this emerging segment that will be a multibillion dollar per year market. Therefore, we are going to fully focus in this. This new model, by the way, also opens the door for strategic collaborations with big players in the industry. The big, the big players in the industry, you know the names, they are not working under, never working under a centralized lab testing model, and they are not interested in centralized lab testing models. They are interested in instrument reagents, consumables that are placed at the hospitals. When we go in that route, the possibilities for strategic collaborations are much higher. We think that in the coming periods, the value of the company will be defined by the milestones with the automated system development and the milestones that we take throughout the project that we will disclose in due time. What does it mean in practice for us? It means that we are concentrating all our internal resources in the activities that will fit this automated system. Important to mention that the goal of this automated system is that it will be able to test for multiple tumor entities. Therefore, all the efforts that we have done and are doing on the ovarian, pancreatic cancer, et cetera, are going to now, let's say, feed this decentralization and automation project. Also, we are going to reduce by 30%, or we have already started, we are going to reduce by 30% all operating expenses that are not directly related to the project. We will continue to run clinical studies. I mentioned before that we are waiting for the output of ethical committees. We will continue to run the clinical studies because we still need to generate additional evidence, build the trust, keep the relationship with all these hospitals that we have. We will leverage this reach to the hospitals to keep learning about the market, to create awareness, to prepare for the launch of the automated system when it comes. We will be seeking additional funding, both from investors and from grants, to support these activities through the automated system development period. The other consequence in practice is that we are formally revising the goals for 2023. Therefore, when it comes to the revenue goal, the revised goal now is that we will reach SEK 3 million, combining both the grants and the sales. In terms of samples, our aim now is to reach 155. We have considered that we are already at the end of October, we still need to get the approval from the ethical committees. It's going to be difficult to set up everything, but it's going to be difficult to start receiving samples within this year. This 125 does not consider any samples coming from the clinical studies. Finally, for all these reasons, we don't think it makes sense at this point to start expanding into more countries. We have to leverage what we have, and we will, for the time being, not move from the 20 countries where we are present. We are convinced that this is the right move to unlock the full potential of this emerging market of functional drug sensitivity testing, and to capture a leading position, a leading portion of this, of this market. Our efforts that we have done in the last years are actually converging in this, in this decision and in this project. I mean, everything that we have done from the technology development point of view, from the clinical validation point of view, from the commercial rollout point of view, is going to be now supporting this. And this will create multiple opportunities for partnering with industry players. And we are sure that this will provide the type of value creation pathway that current and future shareholders are expecting. As always, we are grateful to our shareholders, and we expect to keep their support in this new phase. With this, I think we will move now to the Q&A session. Perfect. Thank you for that, Fernando. As stated in the intro, we have received a lot of pre-submitted questions and upvotes, which we appreciate. In order to answer as many questions as possible, but at the same time, make sure not to repeat answers too many times, we have grouped the questions into specific topics. This is because multiple questions contain some of the same elements and topics. The company will therefore make sure to address as many topics as possible. Should there be clarification questions, you can submit them live, and the company will answer them if there is extra time. The first topic is around the decentralized business model, and the question here to set the scene for the topic is: What do you anticipate will be the cost of goods sold and selling price of the automated pre-processing system to the clinical end users? And who are you planning to engage as technical service providers to repair and maintain the systems in the local EU national markets? Okay, I will take this one. So first, of course, we cannot provide a specific number when it comes to cost of goods sold and the selling price, with the decentralized system, with the automated system. Let's start with the cost of goods sold. So in that new model, the cost of goods sold for the company is a combination of several cost of goods sold, because you have the instruments that you're placing, but then you have the reagents and consumables that you are providing, and then you have the service that you are also providing as part of the package. So each of these elements has a different cost of goods sold. Typically, companies make most of the profit, most of the margin with the consumables, reagents, and consumables. This is why sometimes this model is referred to as the razor and razor blade model, because where the money is, is not with the razor, but with the razor blade. So, but this being said, we have obviously modeled the margins and the prices, et cetera. The idea is that the prices for the automated test should not be too far away from the prices where we are today offering with the decentralized service. If anything, what we are envisioning and we have modeled is that when the testing volume goes up, then the prices are going to go down significantly. In terms of, in terms of our profit, our gross margin, we think that the gross margin that we will have with this system will be higher than the gross margin that we have with the central lab model. Also, because of the scale. I mean, the model with instrument reagents and consumables is very scalable, therefore, there is a big effect of scale. That was one question. To summarize, I'm not going to give a number for the gross profit, but I'm going to tell you that the gross profit we expect to have from that model is higher than from the current model. The other thing is, I think the question was about how, how are we going to manage the service, the repair service for these instruments? The answer to that is that when we chose our distributors, we chose distributors that have already technical service in-house. All these distributors that we have built a network with, they are distributors for other products. Actually, they are much more skilled and comfortable selling products than services, okay? What they have in their portfolio are instruments, reagents, and consumables that they are servicing. They are installing, they are training the customers, and they are servicing. The goal for us was all the time to move to this instrument, create an and consumable model. Therefore, when we chose our distributors, we chose them with already an infrastructure, people, and skills, and processes, and tools to service the instruments. The idea is that our distributors will be the distributors of the instruments, and they will be servicing the instruments as well. Perfect. And, I can see that there is a follow-up question regarding the decentralized model, so let's just take that, now. How far along are you with the decentralized system? Is there a time frame on that? Okay. So, I don't know, Ole, do you want to take this one? I can take it. I think what is very important when you talk about the decentralized model is that there is a number of different components that this contain. And we are working on preparing that for moving it to contract development and manufacturing organizations, among others, the CDMOs. And the components we are optimizing, that is all the way from the tissue to preparing the tumoroids, proprietary consumables that we have developed and the Uncertain that I think a number of you have heard of. With regard to timing, I can say that we are working on these aspects in parallel. The labs are really working intensely to get all the different components ready, and also to ensure that our IP is built into this new instrument, which it will be. We have contacted five CDMOs throughout Europe that we know can do this, and we have received a quote from one of them. When we have all, we will simply compare and take a detailed discussions with them and then select. So you will hear more about that in the beginning of 2024. So, and I think the, the, it's been clear from what Fernando have said, that this is where our whole focus will be. All the different aspects that have been mentioned in the previous discussion, all sort of fits into this new model. So, when we go to 2024 and timing, we will make sure that you will be updated. We will have a number of goals presented throughout the year that, where you can follow, the progress, of that project. Perfect. Thank you for that. And then the next topic is around automation, upscaling, decentralization. I think it maybe is some of the same things you have said here, so if you have anything to add, you can add it here. No, actually, I think that did actually cover both the new question and the question that you just mentioned. So- Yeah ... to save time, let's jump to the next. Perfect. The next topic is the plans for raising capital and the expected dilution slash insider trading. Can you share some info on the process on getting larger investors on board? I guess funds are not likely to invest in companies with this low valuation. Yeah, I can take that. I think as we communicated here, and earlier, we are continuously looking into what opportunities we have to secure our further funding and basic capital to the company, to our operations. Those opportunity seizures and searches always include both speaking to potential investors, upcoming, but also for non-dilutive cash, meaning actively pursuing other grants, et cetera, that is available through the different organs in Europe, particularly the European funds, et cetera. We do have a, you can say, as mentioned earlier, and in Ole presentation, always an active approach and exploration of all opportunities that we have to securing further funding. And as was mentioned, initially here, also with our press release today, with the shift to this, that we are of course intensifying the search and evaluation of potential further equity increase through our talk with investors, et cetera. Perfect. That leads us maybe to the next topic that is around the drop in share price. And the question here is: Why have you not been able to protect your shareholders value better? Have you done enough from your side, and what have you done? I will take this one. It's a tricky question because the share price development has multiple influences and comes from multiple angles, and there are things that are related to external causes. I mean, we have been going through probably the roughest environment in the last 50 years. There are-- I mean, there can be multiple things, and it's not my place to-- It's not my place to discuss also why investors make their decisions. At the end, the share price is the consequence of individual investor decisions, and investors are free to make whatever decision they want. If they want to sell shares at 10 or they want to sell shares at 3, who am I to judge that? What I can say is that, Rick, I would like to focus more in what have we done. What we have done is we have focused in developing the company, because this is what we can do, this is what we can control, and this is our role. Our role is to develop the company, and I can tell you that the company, in the last years, has developed tremendously and very fast, much faster than the industry standard. Everything that we have built in the last years, when it comes to our product portfolio, when it comes to our quality and regulatory environment, the CE markings, when it comes to the network of hospitals that we have seen in the previous presentation, all these things have gone completely... I wouldn't say they cannot have been unnoticed by the market, but they have been certainly not valued by the market. I think what might be happening here also is that when you invest in biotech or in a pharma development, the milestones in the development phase, et cetera, everybody understands those from an investor point of view. People understand how the results of a phase two trial trigger this or that reaction, and how the results of the phase three trial trigger this and this reaction, et cetera. There is no such thing in medical technologies. These milestones are not so clear. So I think what has happened is there has been a certain disconnect between the milestones that investors, or at least some investors, were expecting to see, that were more related to sales and breakeven, and the milestones that we have been working for, which was the development of a company that can capture a significant share of a huge emerging global market. And this discussion about whether breakeven is a priority or not, well, I remember we had this already. I don't remember if it was in Q1 or in Q2, or probably in both, because this is a recurring topic. Yes, we could have prioritized breakeven. You prioritize breakeven, and you bring the company down to a scale where it is not possible anymore to try to build this position in the market that we are trying to build. So if we had to prioritize breakeven, or the development of a company for a much bigger future, much bigger future, we are talking about scales of billions of dollars in these markets, then we have prioritized the long run. And maybe there has been a disconnect here between the expectations of some of our shareholders and what we have been doing. But if you ask me, what have we been doing to protect the shareholders' value, we think that the best thing we can do is to build the company value and communicate, communicate, communicate, and try to eventually make the share price converge with the real fundamental value of the company. Maybe that was too long of an answer. I think that was a good answer. Let's move to the next topic, that is around the communication of 2cureX in Facebook and the investor relations silence over the summer. The question here is, there has previously been some discussion among shareholders about the statement where you assured us that we do not need to be concerned about a high degree of dilution in the case of any fundraising situation. The question is: How could you, at that time, been holding such solid info on your current and future financial situation, and still, after all this time, not have shared any of that info with the market? I can take that one, because I have some of the pressure of being at that meeting, and also taking care of some of our communication. I think one thing that's very important is, and I would like to correct a misunderstanding. There's been this sort of sensation that we were holding secret meetings, for some groups, and we didn't share that with the rest of the market. Let me first say, by far, the most of the presentations we give are in closed fora. That is at conferences, scientific conferences, investor meetings, partner meetings, and a number of other meetings. A lot of the information that is conveyed at these meetings are actually confidential, are insider information. How do we handle that? We handle that by having the participants sign confidentiality agreements and being logged in to an insider log. That's common for all companies. I mean, so don't think that everything we present is to the public and to the market. It's not. With regard to this specific presentation, that I must say we have heard a lot of. It was for 2cureX Friends, a group that have a Facebook page. When asked if we could provide an update, we say, "Yeah, we are happy to do that." We gave them exactly the same presentation that we have given publicly to the rest of the market. So it was exactly the same presentation. Then it's correct that there was a question where they said, I mean, "What do you expect of dilution in a situation where you bring in capital?" First of all, we present what we believe at that specific time point. Any forward-looking statements, as we have in all our presentations, obviously, we cannot guarantee. I mean, who can? But when we talk about bringing in capital, we have two general sources. The one is dilutive. That's the one I think most of our shareholders may be thinking of, from investors maybe. The other is non-dilutive. That is for grants and other funds. If we look at the combined inflow of capital, then it's correct, we certainly believe that it would not be that dilutive. And if we actually go back and say, what have happened in 2023 until now, we have just received non-dilutive funding. So actually, the dilution have been 0, 0 until now. So, and you have to look at how many funds have we actually been able to capture from non-diluting funds. It is a very, very high amount of the whole capital that have come into this company. So it's just to explain that there's a couple of misunderstandings. We are not holding secret meetings where we, to small groups of shareholders, give them some information that we hide from others. Never, ever have that happened and will happen. But we are holding a lot of secret meetings. That's just a part of the game. We need to talk to partners. We need to talk to investors. So I think... I hope this will sort of explain that we didn't believe that it would be that dilutive. That's simply because there are more than dilutive sources, and we have proven that we are good at getting that kind of capital into the company. Perfect. Thank you for that, Ole. And the next question in that category is: As a shareholder, I feel that your communication has gone from very active and positive to almost silence. Why do we see this change? I mean, a few years back, you held loads of presentations, et cetera, with always a very positive attitude and information, but today you only appear at these quarterly events. Yeah, as it is in the sort of communication area, I will take that as well. And I must say, I agree with the shareholder. Our communication have been very limited in recent months. And it's not that I'm proud of it, but it was a necessity. You saw in Fernando's presentation that the focus on the decentralized model have been a lot of work. We have gone through everything in this company and really seen how can we make this happen. On top of that, we felt that in order to really push this forward, we should have a new chairmanship in 2cureX, and that have taken time as well. We totally be more into that, as there has been a question about that. But so that's the reasons why we have been much more silent than we normally will. I can assure you that going forward, we will be as communicative or as communicating as much as we have done previously. So we will make up for a silent period over the summer and make sure that you are fully presented with the progress within this new strategy. So that's a promise. Perfect. Thank you, Ole. Then, let's move to the next topic, which is around the runway in the company. You addressed that with the current cash, you expect this to last until Q2 2024, but with SEK 26 million in cash and the cash flow in the current H1 of -SEK 19 million, with this cash burn, you would run out of cash in Q1. So what is the calculations behind this? Was Q2 2023 an extraordinary period of cash burn, or what kind of cash burn do you expect in the future? I will take that one. First of all, we will have cash into Q2 next year. If we look at the, as it's presented here correctly, in million Swedish crowns, I think it's, the question asked amends. We did have a higher burn in H1 2023 compared to what we will see the coming quarters. The last part is primarily for positive cash events that are typically coming in that part of the season of the year. One is how our grants are distributed cash-wise, so there is a positive effect to that compared to H1. We also have a tax incentive program, which is also affecting positively the cash in H2. So that's including the measurements that we have taken from the operational cash burn going forward. That enables us to be cash positive all the way through Q2 next year. And I think it also resides into the fact that we are closely monitoring our spendings and our cash situation at all times. And there are, of course, situations there when you compare the different periods that are different. So to that question, yes, we will be cash positive in Q2 next year as well. Perfect. Then the next topic is around the change in Board of Directors. Could you tell more about the proposal of Tonni Bülow-Nielsen to the board and as a chairman, is it connected to some kind of funding? I can take that as board member. I would say as said before, in order for us to realize the plan that you now have been presented of this decentralization, it was not only the organization that had to be streamlined, and we had to focus on that path in our plans. We also wanted to have a board with the right competencies and the right international network. Now, I don't know if Tonni is listening, but I can say that we are really excited of having Tonni to say yes to be proposed at the upcoming extraordinary general meeting. Because, I mean, Tonni has an extraordinary experience exactly in this space, in the space of med tech and diagnostic, in developing these type of companies, and in financing them and moving them all the way to an attractive exit. That may be an M&A, or it may be a trade sale, or it could be a number of different avenues for exiting the company. I won't go into too detail with Tonni's credentials. I will suggest that you look at the notice for the EGM that we issued yesterday. There you will see that this is a very, very interesting person. I should also say that Tonni wanted to really dive deep into what 2cureX is for a company. That's what he's doing for a living every day. So everything was turned, and then he came to the conclusion, "Yes, I believe this company have the possibility of really becoming a global leader." If money will be, I think that was the other part. Will there be a funding associated with this? Obviously, that I cannot comment on, but we certainly use Tonni's network and competencies. I think that as far as I can go. Yep. And then we have the final prepared category here, which is around the 2cureX as an investment. And the question to set the scene here is, why should I invest in 2cureX at this point? Would it be good to get some information on why and why not this is a good timing? I mean, I would say there has never, there has never been a better timing, in reality. Why, why investing into 2cureX? We are looking at a market that has a potential to be multi-billion dollar per year, firstly. It's a huge market opportunity, and 2cureX is among all the companies that are looking into this space, 2cureX is the one that is more mature, that is more advanced. 2cureX has the longest history, the more mature technology, the largest reach to hospitals nowadays, and a number of other things. I mean, our, our regulatory environment, et cetera. I mean, I don't need to repeat that because I think everybody understands, all the assets that we have built. Now, all these assets that we have built, all, all these development are to make 2cureX ready to grasp that, share of, of this emerging market. So we are the best option for somebody who wants to invest in this developing market. We are the best option. But I would say, to the why now? Well, unfortunately, unfortunately, the share price is at a level that does not reflect at all by, by, orders of magnitude, the real value of the company. Okay, and therefore, I mean, the question I think is, why should I invest in-- So somebody who wants to enter now as an investor, I would say, the question is, it's, it-- for me, it's an obvious, it's an obvious answer. And finally, because with the new-... with the new model that we have announced today, with the new strategy updates that we have announced today, there is a much more... So the pathway of how to build this dominant position in the emerging market is more clear, because we are talking about global rollout, but also it provides a clear value creation pathway. I mean, when you think of what venture capital companies are doing when they invest in early stages in the companies, is exactly they are going step by step, following the development of the company and seeing how the company value goes up. So, I think the new model provides a much more clear value creation pathway. And finally, as Ole mentioned, it also provides a much more clear exit strategy, or at least opens a lot of exit opportunities that we didn't have with the previous one. So what, in a way, you can think of it like with the previous model, we were bound to develop the company to its full potential through internal growth. While here with the new model, there are many more options, so to say. So, I think it's, I said, the best timing. And I think the possibility for growth, I mean, everybody has to assess and understand, but I think we are providing all the elements for the analysis, so. Perfect. And, I think that was all the pre-submitted questions that we have divided into the different topics. So now we maybe have time for a few live questions as well. There's a question here: I just want to express how much I appreciate your efforts. We are many shareholders who believe in you, and we know it's a bumpy ride on the market. How do you feel about the situation, looking on the current value on the market for 2cureX? Are you feeling nervous about anything at the moment? Okay, maybe I can take this one. Also, first, we really appreciate when we have words of support from our shareholders, right? Because some questions might imply that we have forgotten about our shareholders. We never forget about shareholders. We are fully aware that they are the reason why we exist. Therefore, hearing that shareholders are appreciative of what we are doing is really rewarding and comforting. This being said, are we nervous about anything? I mean, who is not nervous these days? Who is not nervous these days? I mean, every time we think we are in the clear for a crisis, we are just stepping into another one. This has been like this since... Well, I mean, let's only take three years ago with COVID and everything, full stop in the hospitals and then regaining that. We thought, "Okay, now we can start building." I think the volatility in the environment is here, and we just have to cope with it. What we are is very confident in our own capabilities. We have a very strong team. We have a team that is very experienced. We have a team that comes from working in large organizations. We have a team that has done before what we plan to do now. With this confidence, I think, yes, of course, market conditions are complicated. Funding is really tough these days, but I would like to emphasize more the confidence part rather than the nervousness. We think that we are in a good path. We are very sure that in 2024, we are going to make significant progress with the strategy that we have defined. We don't have any doubt about our survival in 2024. Yeah, confidence is, I think, the word that summarizes our main feeling. Yep. Perfect. And then I think we have the time for one last question here. Are you gonna make goals for 2024 public at some point, and when can we expect that? Yes. So, yeah, I can take this one. So of course, with the pivot in the strategy that we have just announced, the old goals are probably not the right priorities, as explained. So we are going to have goals that are directly related with the evolution, with the maturity, with the progress of the project that we are going to engage now, for the development. So yes, we will communicate goals. We will communicate goals probably before the end of the year or at the beginning of next year. And these goals will be related mostly to the automation project and the milestones associated to it, because that's now our north. That's our headlight. Perfect. I think we are running out of time, so let's end the Q&A here. If there is any more questions, I believe 2cureX is always available to answer questions directly. Before we end the webcast, I will hand over the mic to you for some final remarks. Yeah. Well, okay, so I will repeat a little bit what I said, but I think I want to make this remark. So the first one is, we are very grateful for the trust and the confidence that we have from the shareholders, despite everything. We know that it is disappointing to see the share price at the levels where it is now, but we also know that there are people out there who understand the value that the company has today, and that eventually these two values will converge. We have a much more clear focus now than we did with the previous model. We are fully confident. I mean, this is the standard model in the industry. The standard model in the industry is not the centralized lab and sending samples. The standard industry in the model is reagents, consumables, and service. We are transitioning there, and we are very, very confident that we are the right people to bring this forward, and that we are not only the right people, team, but also that we have everything that we have been doing in the last three years will jumpstart a number of things in this new model. Therefore, just saying thank you to everybody. Thank you for participating at these hours in this session, and thank you for the continued support.