Okay, we're gonna now skip to the last part of the presentation, questions and answers. I would like to ask my team to join me on stage. We have already received a lot of questions beforehand. We will answer them, and then we can also take answers live here on stage from the audience and also from our online audience through this tool we have here. Okay, we get comments on the resolution of the movies. That's. We will make sure that the version that is uploaded on the webpage has perfect resolution, so you can see all the movies in good resolution. I'm sorry for the poor bandwidth at the moment. Okay. These are the questions that we have received beforehand. I will read them from top to bottom, and I will assign them to the best person to answer. First one is, when are you planning to IPO? When are you planning to go to the stock exchange? Börsnotering in Swedish. Will it be in 2023? Should I answer that one or Frida? I can answer that one. If you remember last year when we talked about this and the year before, I think as well, we will evaluate an IPO in 2023. That means that we have to do a lot of work now. To evaluate for us means to see, are we ready as a company? Could we go to the stock exchange? This is called IPO readiness. You prepare the company for a potential IPO, and this work is starting now, will be headed by Lars and Frida. Okay? Question number one, are we ready as a company in 2023? Number two, do we want to do it 2023? We don't know because we don't know how the market is in 2023. We want to control the decision. We wanna know that the company is professionalized, has the correct procedures and forms, and so on. Is that a good answer? There's a question in the front. Yes.[guess] I will repeat the question. Often there is an alternative, you know, to IPO or get bought by some big dragon. Are you having any such discussions or approaches? The question is, there are other alternatives than doing an IPO or being bought by one of the large dragons. Are we having any of those kind of discussions? What would that option be, I mean, just stay like we are? Well, I don't know. That depends on the dragon. [guess] Yeah. Okay. We have continuous discussions all the time. It depends on the dragon was the answer. We get approached by different entities and whatnot with proposals, with ideas. At the moment, we are very focused on owning our own destiny, we have a plan, we have a business plan, a strategic plan that is coupled to the scientific plan, to the financial plan, to the operations plan. We have one common plan that all the managers and all the employees have accepted and bought into. Our job now is to fund this plan and to execute on that plan. We don't spend too much time running after, you know, wild goose chases. We could. We don't wanna do that. We're trying to have laser focus on building this company so that we, in a couple of years, 2023, have a new massive factory, fully automated, robotized, the best factory in the world, and we will have world-class customers that we have announced. Then we're in a good position to take an educated decision for the benefit of all of us, 'cause in this room, we are all shareholders. It was a long answer to a short question, but that's all I can say at this point. Do we have any other questions in relation to the IPO? We can come back to it as well. Otherwise, I will take the next question. Okay. Can I ask you to have. You can check. So, let's see if a question comes up on the topic we are talking about. Yeah. Yeah. Yeah. See, it says Exeger. Yes. There are also other forums here. Why are you working extended hours? Have you gone into double shifts? Should I answer or you? I can answer. Okay, you can answer. Nick, answer. Okay. Well, firstly, extended hours for us has been during COVID an absolute necessity. We're a company that does. I'll say this. You can't really innovate on the level of innovation that Henrik and Giovanni and Henrik's team have started from your kitchen. You can't make designed experiments on chemicals in your kitchen. We needed to have the people on site to keep and drive that innovation that the Powerfoyle indoor, we increased efficiency by 50%, so we extended the hours. It doesn't mean that we doubled the amount of people that did it. We just had them work. We increased the number of people a little bit in R&D, and then we extended the hours. As far as the questions that has come in on double shift, at some point during this industrialization and this ramp-up, naturally for us, we work around the clock, and that means probably in production two times eight hours, because this has never been done before, so it's hard to do. We run into obstacles, yields go up and down in different process steps. During some periods we don't. So it's just the ability to actually have now one and soon two sites, have a full R&D team, and be able to use the entire day allows us to be a company that both innovates on the highest level but also builds a state-of-the-art production. Manufacturers for delivery. For sure. To deliver every Friday we ship. We have to do these things in parallel. That's why we need all these hours during the day. Any questions on this question? Any comments? Okay. We have always worked extended hours. [guess] I know. We have always worked extended hours. That's true. It's true. How many cells have you shipped, and what do you sell them for? You wanna answer? Sure. We can't tell you, of course. I mean, I don't think you've ever seen any public or not public company that would tell all their shareholders openly about their price strategy. That would be not wise management. We're not gonna tell you that. Again, to Johnny's point earlier, you see what the value of Powerfoyle is in the end consumer. Then many people have insight into consumer electronics and other products. You can probably have some fun and do some thinking on it on your own. Long term, our margins are really healthy, and our volumes will be really big. Yeah. I think what we can say, I actually asked Urbanista CEO before. We're allowed to say that the sales are much higher than expected and anticipated on their side. That's very good. Yeah, it's like, really, that's really good. Yes, that's all we can say. Okay, next one is for Frida. How many shares do we have, and how much of Exeger Operations does Exeger Sweden own? Exeger Sweden has 44,049,712 shares. They own 95.91% of Exeger Operations, and the rest is owned by SoftBank. Yes. This information is also available on our webpage. Yes. I believe. Is the Urbanista app yours? It's Urbanista's app. One thing to add to that point, if a lot of you already know this, right? From a product perspective or from a use case perspective and an experience perspective, this is black magic, right? A lot of people in the past didn't understand that this actually works. Being able to take the headphone and walk towards a much stronger light at that one and see that the virtual reality in here and the application actually reacts with the reality out here, it is a little bit of magic, and it educates our end customers to a large extent, which is why we've had one for a long time. I think that is one of the most important things besides the long-term value of the data, is that all our users now understand where the product works best, and they become, as we say, light conscious, which drives the usage of the product and also drives the success of the product. I think there was one of the articles in there. I love this quote. It's the, there's, I think it was Forbes. He was first saying that while having an app to this might seem gimmicky, and a lot of the consumer electronics companies I worked in the past, they have a hard time getting the users to actually stay in the app and use the app. This Forbes, I think it was Forbes, journalist wrote, like, "The urge to keep the app open to always check the battery status is extremely strong." Like, that is a win, especially Georgios's been pushing for this app to all the customers because it doesn't come without friction for years. It's a truly important thing of the entire product experience. Yep. Okay. What's your competition like? I will answer this one. I would say it's more or less the same as last year and the year before. With that, I mean that we. I'm trying not to be too technical. There are other superb technologies for power production, like solar power plants, silicon cells. Perfect. Let's let them do that. We're not interested in that. Chinese government owns nine out of the 10 largest companies in the world doing power production. The tenth one is American. Then you have another technology called amorphous silicon that's traditionally been used in calculators and stuff like that. Then you have other new technologies such as ours, and you have some OPV, which is a polymer-based cell. We have carefully chosen some products where more or less only we can be. And that's on purpose 'cause that allows us to really benefit from our unique characteristics, and we're not taking anyone's business, and we have a very good possibility to have value-based pricing. We welcome competition. We want to have competition. It's good. It's healthy. In some products, it will be okay with not so nice design or other kind of performances. That's great. There's so many, many products that we can integrate into, and we hope that everyone else is doing well as well. It's good for the world. The more PV we see, it's good. The more solar cells, it's good for the world. The things we do, we are the best at. There will be other products where you can have maybe stripes design, but it's not important what it looks like. Perfect. Good for them. The stuff we do have completely other requirements. Sometimes you can have a glass-based cell. It doesn't have to be flexible. Okay, then it's good. Glass is good. We can also do glass. We don't do that. We have chosen to focus on flexible cells with good design aspects, where the value for the customer is big. The value for us to have a self-charging headphone has nothing to do with the cost to charge that in the wall. The cost to charge a headphone during a year is only a few SEK, but the value for the customer is SEK 500. We choose those products where we are alone and we are the best. We hope that all the competition, that it goes well for them, and they will also find products, I'm sure, where their technology will be good. When we look at competition today, where there's no one, we don't even know about someone who is close. They will come, for sure, but especially when we make a lot of money and they see we make a lot of money, then there will be a big profit gap to fill with poor copies and alternatives and all that. I would say that we spend a lot of time looking at this, searching, communicating, scouting. So far, so good. Okay, we have a question from the audience. Follow-up question. Yeah. Has the competitors been gaining on you the last year, or have you raced away from them? Well, I would say we have clearly raced away from them. The announcement we did with the Powerfoyle indoor is the proof of that. We've also started to build a new factory 'cause it's a combination of factors. If power output is one thing from the solar cell. Power to the battery with the component on the side is another thing. There you have a big increase as well for us. You have manufacturing capacity, 'cause if you wanna stay for many years and have a sustainable business, a profitable business over time, you need to have a strong brand. The core technology has to be strong. It has to be good enough. You need to have as strong a brand as possible. Your name should be recognized. People should know, "Oh, this is Powerfoyle. This is GORE-TEX." You know GORE-TEX. Everyone knows what GORE-TEX is. There are other materials that are better than GORE-TEX, but you still buy the one because you know what it is. You know what you get. That's called varumärke. No, the brand. Distribution. Are we all over the world or are we only in this small geographical location? Yeah, we're in the local convenience store. That's great product, but we are talking about global scale. Can we take the largest customers in the world? Yes, we can, 'cause we have the largest factory in Europe soon. So it all. Competition, you can say, what is competition? Yeah, another solar cell. Correct. Can they compete with the stuff that we are doing? No. Can they compete with a small separate product on a local level? Maybe. Is it important for us? No. Do you understand what I mean? You have to sort of think about this on a large scale when you are gonna compare with us. Okay, so any more questions on this or? No, not on that, but we have some questions about Mayht and the investment into Mayht. Okay. What's the question? One of the questions was, how large a share of Mayht that we own. Yep. Another question related to that was, if we have invested and do we have to invest in customers to get business with Mayht? Yeah. No, we don't have to pay someone to do business with us. We did the investment in Mayht 'cause we wanted to. It's a good financial investment, 100% sure. Love this company. It's amazing. Also, when we become partners like this, the companies work even closer together. We are now developing products together. Mayht is not our customer. Okay? Mayht is also a component producer. They manufacture this driver inside the speaker that makes it much more power efficient, remember? Together, we developed this bundle, this package, which just has an amazing value proposition. That package we will together offer to speaker companies. Okay? That's the logic behind it. They haven't revealed how much we own, so we can't either. We also managed, as you saw in the press release, secure an investment from the super famous producer and DJ Martin Garrix, who is one of the most famous DJs in the world. He also invested together with us. He loves Exeger, and he loves Mayht. Remember that. That was very good. We have another good question, actually. Another good question. Besides the value for the customer, why will customers pick your product? Why should other big tech partners work with Exeger? You wanna answer? Sure. It's a smash ball for you. Yeah, that's an easy one. Well, besides not needing to charge as the end consumer, we also bring a sustainability aspect to a product. A lot of our customers, top management and board in these companies have very high ambitions when it comes to sustainability. It's just to look at these top consumer electronics brands. Many of them want to be carbon positive. Apple even announced that all their products will have zero carbon footprint by 2030. All of these companies have very high ambitions, but it's difficult to reach these goals. Using Powerfoyle is a solution because we can help them to reduce the carbon footprint by, as Giovanni said earlier, removing the charging cable and removing the charger and not charging with coal power or dirty power from the wall. The other part of the question is why tech partners should work with Exeger. Well, we have more partners coming besides the one we announced. The reason why they wanna work with us is that the combination of a low power technology and Powerfoyle could make it possible for new products to rise. We saw a clear shift in the headphone category when Apple introduced the W1 chip, power consumption went down by roughly a factor of four. Then the competitors to Apple later followed. This was what was opening up the whole headphone segment to us. I think we will see similar changes in other product categories. New verticals will open up because we cooperate with the market leaders in certain technology platforms. We have some exciting news coming next year. For sure. The last question is, or sort of, how is your customer pipeline looking? Do you have any of the consumer electronics giants signed? Can you say anything about this in general, I mean? Well, we can say that we have a good mix of customers coming next year. We have a big customer signed that we can't talk about yet, but it's a really big customer that we are very proud of. I think that's what I could say. Yeah. Yeah, I can say in general, we have a big pipeline. As you know, we have always had a big pipeline. That's a lot of customers we're talking to in different levels in the sales funnel. That's important for us to have many customers that we're talking to, but we're trying to be very focused in terms of which segments, which verticals we're entering. We're not gonna have 20 different kinds of products. We will have many products, but within the same categories, 'cause that facilitates the production and speeds up the development, and then we can dominate a sector totally before we move on to spread too thin. We want to become a standard. We want Powerfoyle to be a standard in the headphone space as soon as possible. We're focusing a lot on different kind of headphones, like the truck headphone, the sport headphone with adidas, the other, the fashion headphone with Urbanista, and other headphones are coming, you know, kind of different kinds. With that, we mean, that's how we operate. Björn, you had a question in the front here. When do you expect to be profitable? When do we expect to be profitable? It depends on how much we, you know, invest and grow. At the moment, we're focusing more on growth than to be profitable. We have a very profitable business, underlying business. We have a healthy margin of the products, but we're now investing a lot of money to grow, to get market share, to be present all over the world. But at a certain point, when we have reached our different operational goals, when we have two factories, when we have landed these big companies, customers, and we have built the organization and all that, then we can turn off the scale-up factor, let's say, and then we will see the true underlying gross margin. Then we will be very profitable. That's how the strategy is at the moment. Do you understand what I mean? Yeah. I think this is the right thing to do for us now because we are alone in these sectors we are moving into. When you're alone, you should run fast, cover as much area as possible. That's more important at the moment. Another question in the front? Yes. SoftBank came in, and there was a lot of, you know, expectations around them. Mm-hmm They have so many companies. Mm-hmm. Their portfolio. Then it went kind of silent, of course, with COVID and everything. Yeah. W hat's happening now? You sort of feel it running in the bushes or? SoftBank came in with a lot of expectations, of course, owning 253, I think at the time, portfolio companies, and we were talking about our close collaboration with them, our strategic alliance. The COVID happened. Yes, it was completely shut. Japan was completely shut down, and it is still. We haven't been able to go there for two years. Yes, that affected us a lot. It's been difficult. It's difficult to train a sales force of Japanese people over Zoom. That's very difficult. It's difficult to start with having these cultural differences and the language barriers and all that. Over Zoom is even more difficult 'cause sales is not about reading a manuscript. It's about owning the product and understanding and feeling and all that. We have a super-duper team now in Tokyo working for us inside SoftBank. They are part of Georgios' sales team. They have a they've we managed great work. We managed to train them during this terrible pandemic. They have now understood. They are performing really well now. We have a very strong, at the moment, a very good relation with SoftBank. Very strong. We appreciate that a lot. They are very important for us. It's our most important partner. We also had a question. You want to add something about that or? Yeah, sure. I mean, we can talk a lot about SoftBank, but we are present at SoftBank's new HQ. Yeah. In Tokyo. They have a complete floor where they display the best and newest coming technology, and Exeger has a prominent part on that floor. They receive roughly two companies a day, only with a revenue of above $1 billion. It's SoftBank top management that meets top management in these large companies, and we are present there, and we show technology and products there. That's really big. It's now also official that in Japan, we have a test with the largest SoftBank telco stores in Japan, where we have our own shelf, same size as Harman, Sony, and other big brands. We have a Powerfoyle shelf with our products. Now it's only Urbanista, but there will be more. That's also huge. This is big. That's really big. Yeah, it's going really well. We like them a lot, and we hope we can soon go there and we haven't even met these guys in person. It feels a bit special. We had one question about. We have more questions about Mayht. Okay. Yeah. How come you have started to invest in other companies? Is this a strategy that we can expect to continue? Do you see any risk in losing other speaker-focused customers when you invest in Mayht? Yes. I will answer the first one. You answer the second one. Yeah, I can hear you. Yes, you can expect us to be ready to invest in any technology that will help us bring Powerfoyle to the market. This is a strategic change because we know now that with the products we have released, announced, and launched, people love it. That's a fact. How do we protect our technology? How do we increase speed to market? By working with other companies, and sometimes investing in them, but working with other companies that are going for the same goal, reduce, you know, carbon footprint by eliminating cables, plugs, not charging from the wall, using other technologies to lower power consumption. By us identifying these companies, understanding where they're going, partnering up with us, explaining to them how we should partner up, they will also increase speed to market. They will get products out earlier and more powerful stuff together with us. Sometimes, 'cause we are very good at building companies. It's a big difference of inventing. I have a new solar cell or I have whatever new. That could be a great solar cell. Why isn't the best solar cell in the world that was ever made the biggest solar cell company, most profitable? It's something else. You know this. You need to make a product from a technology. You need to build a company around this product with all the terrible and fantastic thing that means. Everything from sourcing, supply, to organizational stuff, to HR, to deliveries, to facility questions, to legal. So much quality, just quality. That's why we have seen a clear possibility in the board and between the shareholders to help other companies take their technology to the next level, either alone, we help them, or together with us, which is our preferred choice, of course. Sometimes we tell them as well, "You know what? We will invest as well." 'Cause then with this investment, we will do this and this and this. This is a proof that we put our money where our mouth is. We can help them, and we can make decisions together to do the right things in the right order. Yes, definitely can expect more activities of this kind. I have now a great team with me, Frida and Lars, so that with a massive M&A experience and to evaluate technologies, I mean, Henrik, number one in the world, and these guys commercially with Sophie. I mean, we are now prepared to make this happen. This is gonna be exciting times. Now the other question was about, are we afraid that we will alienate other speaker companies by partnering with Mayht? Explain again. Yeah. The ecosystem. I think that maybe we were unclear on the communication, and maybe I have not reached everybody. Mayht is not a speaker company. They're a component company. They have invented a technology that allows you to run a speaker on around 70% less power. With this and Powerfoyle, what we're doing is not alienating other speaker companies, we're enabling them. They can now, for the first time, make a speaker, a wireless speaker, that can be truly self-powered. That didn't exist before. Them and us is like magic sauce together. What's gonna happen is that we're gonna get all the speaker companies after CES come running. We're already talking to most of them, but once they see the things we built, it's gonna be pretty epic. It's an enabler, it's not an alienator. This is pretty big. Okay. Good. Good. We had a, are we good on this part? Good. We had another question on how many of us here on stage actually own shares in Exeger. Well, I own shares. I think that all of us, the old ones, so to say, we have shares, and the new recruits, they have acquired stock options. Remember we had this meeting before summer, we talked about this. Quite significant investments, actually, in terms of money, which is good. We don't give options, they have to buy them for market price. So there's no tax coming later or anything for the company. That's good. We also had a question about JBL. What's the latest on JBL? Remember that JBL last year sent a press release that they put our product on pause because we couldn't send. It was too difficult during COVID to develop the product. Again, Urbanista and also adidas, they have engineers here in Sweden, so we can work with them. JBL, based in China and San Francisco, was too difficult to develop the last parts of the product over Zoom. Well, you can't. You have to be together and fix it when you build things. The communication, they were quite clear that when COVID is gone and we can start working together again, we will restart. That still hasn't happened, unfortunately. China is still closed. We can't even apply for a visa. Soon, I think they're gonna start to open up between Hong Kong and Shenzhen. We don't know yet. Nothing new yet with JBL. We have a very good relation with them, of course. We speak about other things as well. Nothing new yet on the JBL headphone. I hope it can restart soon. We'll see. We had another question: How is the current capital raise going? Frida, you wanna say something? Yes. It's going well. We have a great interest in the company, obviously. We're in the first phase of the funding round, so, but everything looks very good. It will not finish this year. No, no. God. It will take time. Mm. Question from Ragnar? Yes. You mentioned that, us present shareholders, we will be invited as well. Can you elaborate on that a bit, please? Will present shareholders be invited to participate in the funding round? Yes and no. Yes, if you're a large institutional investor, such as AMF or Stena or SoftBank or other any other random large institution. If you're a smaller shareholder, it's cheaper and more efficient for you just to buy shares through Pareto. It becomes an extremely large administrative process if we're gonna allow everyone to participate in this share issue. It will probably be cheaper as well. There we have. I think you already answered that. We have a follow-up question. What stock price will new investors buy at? Yes. We can't tell you. We want it to be. You wanna answer? No, we can't. I can answer. Okay. We can't. Okay. You know that we always try to get investors. You know, they will see everything we have, right? All the contracts, the whole pipeline, the dream pipeline and the realistic pipeline and everything, all the contracts, the works. Then it's our job to make them believe that we will succeed in selling this and this and this much over the next coming three, four, five, 10 years. The better we are at aligning what we think is will happen with what they think will happen, then we agree on this, what it means, and that value for us is the reflection of the true market value that day. We will, of course, we have very high beliefs on Exeger. We think it's worth a lot, and investors do as well. Where we land exactly, we don't know yet. We will tell you as soon as we know, because we will probably need to convene you in to come to an extraordinary general meeting, where we will need to make some certain decisions, probably. Before you take that decision, you will know the share price. Very good system, I think. We will let you know as soon as we know. That means as soon as we have something in writing, then we will call you to a meeting and we'll tell you what it means. We will do our best. Okay, next question. We have a question regarding the revenue for this year. Yeah. Next year's revenue and improved projections. Yeah. I mean, revenue, I love everyone for being so positive and believe in the company. I do, too. The revenue for this year will be very small. We have just shipped for six weeks, okay? So just so you're prepared. Next year will be better. How much better? We don't know really because of the situation in the world, but it will be much better than this year, and the year of that will be much better again. The year of that will be enormously much better than again. We will not give you any numbers. You will see numbers when the annual report comes out in June or something like that, normally. We will not start to guide yet with any numbers. We're doing our best. We have another financial question. How much money will we need to raise? Like we said, we're going to raise EUR 70 million at this point. If we manage to secure a top investor, a really good one that we believe can help us grow the company faster on a global scale and also fulfill our other requirements that we have with different things, we will evaluate to take in more. You never know what's going to happen. How much more depends on how fast we want to move, and these investors coming in, they also have opinions because they're like, "Okay, good. You know what? You want 70. That's good. This is the plan." Plan A, let's say. Good. Then say, "Good. We suggest that we give you this kind of money, and we do plan B instead." Then we need to think, "Okay, is this feasible? Can we develop faster with more funding and/or maybe access to other people, technologies, organizations, premises, whatever it is?" At the moment, plan A, which we really believe in, EUR 70 million. Okay, next question. Any more questions? Question. Have the development of solar cells reached the top, or will there be a outdoor Powerfoyle? Has the development of our solar cells reached the top, or will there be an outdoor Powerfoyle? That was the question. Yes. I can answer. We never exclude anything. You don't want to say never in research. That's a rule of thumb. But at the moment, we don't see any clear business in doing pure outdoor solar cells. But that doesn't answer the first part of the question. Have we reached the full potential yet? Fortunately enough, we have Henrik here on stage. Do we have a handheld mic? Is it on? Hold nearer. Hello. Do you hear me? Yes. The full potential of our solar cell is not reached, obviously. We have much more to gain. One thing is, it's not only about increasing the power, the efficiency and the power. There's a lot more to do that, and we have already done it with the indoor version, but still there's much more to do in that arena. It's also another thing that Exeger stands for is design and beauty. Introducing colors to solar cells, like red solar cells, orange solar cells, blue solar cells, green solar cells, that would leave the competitors way behind. I mean, even more. That potential, the beautification or the aesthetic factor is huge. I would say that's even bigger, maybe not right now, than just getting higher power, but because our power is quite okay, right? It's better than our competitors. This new thing is colors, I think. Yeah. That's big. When will the colors come? Is the question here in the front. It's not my decision to answer. I mean, we working on it. We have done experiments on it, and but it's too early to say that. We have a plan, but we shouldn't reveal it right now. No. I think it's the wrong place. We have a plan for that. Yeah. You can keep it there. Yeah. We don't have any more questions actually from the online audience, I think. Just one more. One more here. The new platform, which has 50% more efficiency. I haven't. Maybe you have advertised or make it known over the world, but are you still holding it back, the this new invention in Powerfoyle with that much efficiency, 50% better? The question is, I think, correct me if I'm wrong, we haven't revealed what it is you mean or? No, not that. I mean, Powerfoyle is getting known, but. Oh, you didn't see the news? We had a press release, and we had a big article in Dagens industri as well about this achievement. I think it was also on my LinkedIn, but we can make sure to send it to you again. It was quite well-received. I don't know if you have seen it. Maybe a few of you. Yeah. We are now starting to send these to customers for testing. Very exciting. We haven't yet given any data, official data on it, but that will come, of course, later on as well. To say something about this.{guess] Yeah. Typical products that we would target with this new platform are, you know, obviously indoor products, such as, you know, any kind of sensor or portable devices that you have in your home, things that are battery-powered in your home or in a public building, battery-powered things where people move around. It's expensive to change the battery or difficult or dangerous, or maybe not even allowed to change the battery yourself. It becomes very costly. The whole smart home. We have a lot of questions coming on.[guess] Yeah. One here first. If you look four years ahead to get the fantastic volume and business, where are the critical issues as you see them? Is it the personnel it takes to get customers? Is it the technical issues or? I think, the question is, what are the critical issues and the critical paths to reach the large volumes that we're hoping to get? I think there are a few, right? Number one is, of course, to build a factory of this scale that we're doing has never been done before with this technology. That in itself is a massive challenge. That's also a reason why we need a lot of funds, so we can get experts to help. It's about can we deliver, number one, build this factory at this speed? Like, we just had one product we finished in three months that usually takes a year. That requires an enormous effort. Just so much. That's number one. Can we deliver? We think we will be able. Will it be difficult to restart? Yes. Have we done it before? Yes. We will solve it, but it's gonna take a crazy effort, and we need to employ a lot of experts on this. We are as well. Number two, can we sell it? I think so. We think so. In our forecasts, we have names of customers existing and coming, and they don't know they're, but they're gonna be there yet, like customers, which under sort of builds this plan. It's not like random anyone in five years is gonna buy this much. We don't work like that. We have mapped out a lot, so many companies. The most difficult part, I think, will be to. Or I wouldn't say one is more difficult than. One is technically, but then we have such strong competence in-house, and Sweden is a powerhouse in optimization. Massive. Finding the right people is always a challenge. That's why we have spent a lot of time and effort and successfully been able to be seen in these journals and TV shows and everything all over the world. We see a big inflow now of people applying for jobs with us. Same like Northvolt, people are applying, thousands of people per month because they've been all over the world news. We kept silent for so many years to keep secret, but now we're out, we're just changing completely instead. Now we're everywhere. It's technology and then the people. It's about timing and some luck as well. Please, no more pandemic. Please, no more war. Please, no shortage of stuff or, like, ships in the Suez Canal or whatever. Please just leave us to work, you know, and sell for a while. I would say that's sort of. It's nothing special. It's like the standard business, you know, scaling from zero to largest in the world in three years. Nothing special. You know. You wanna add something? I think that's. I think that if you compare scale in what we're trying to do with a lot of other scaling of industries, again, I'll say it again, and I said it before, and you said it's never been done before. A lot of the materials that we use aren't used the way we use them because of Henrik's brilliant invention, right? When you wanna make 100 of them with the best chemists and the best researchers in the world, it's okay. Then you make a few thousand, it's still okay because you still use the researchers. When you go from 1,000 to 10,000 and to 100,000 and then 1 million, like, you need to develop completely new processes and machines, and this has its obstacles. Having looked at a lot of been part of a lot of other growth where you did new things but with known technology and known materials that went into that, where mobile phones and smartphones were one of them, we made new things, but we used known things. These things aren't known. We make most of our own components ourselves. That's the trick. I mean, and in saying that, I mean, the giant leaps we've done on yield in every one of these process step, even though they're hurdles, we've taken this year is just amazing. But there's a lot more to do. But then we have to do it again because then there's another 10x. The major difficulty lies in never been done before with new things. I think we have a lot of questions now coming in from the online audience. Yes. Are you seeing risk in your IP being stolen? Always. We are always careful with the industrial espionage. We're not scared of it, but we respect it a lot, and we do everything we can to protect it. We have a combination of patents, remember? They're all approved. Our patents are approved in all major markets. We also have a lot of trade secrets. That means how do you actually do it? It's like you can buy a cookbook, right? With the best chef, Swedish chef, Mathias Dahlgren. You can read there how to make his spaghetti carbonara, and then when you cook, it doesn't taste like when he does it. Why? The trade secrets. How do you do it? Which temperature do you fry the onion in so you only caramelize it, not burn the carbohydrates so they become another crystal structure and taste is different? It doesn't say in the cookbook. He knows. He won't tell you. They have the process knowledge. How do you do it? With which machines? We have all of this, but we're constantly aware of this, of course. It's a big threat to the global economy and innovation in general, I think. You want, Henrik? Yeah. Hello. If you cut our solar cell open, it will have a completely unique architecture that you cannot. That architecture is protected. What you see is what is protected. Doesn't matter how you got there by. You can get, you know, the recipe how to get there, because if you get there, it's you can see that it's our architecture. If a competitor would copy our solar cell, it would be so easy to prove really scientifically with 100% confidence that, yes, that's our solar cell, and they probably took our recipe. Then it would be more about alliances and Swedish government, SoftBank. I think you can. Yeah. Fill in on that one. Who is behind the patent? Is it Exeger alone? Or, you know, is it Skogaholms Bageri, or is it? Who's behind it, you know? 'Cause that's a lot that has a big influence if you wanna go down that road. You don't want to fight against SoftBank probably, I guess. Yeah. Uh, or. That's true. I think that we have a very strong protection in that. You can see it's our solar cell. There's no doubt about it. You cannot somehow camouflage it. No, no. If you cut it open and look at it in microscope, you see it's exactly what we have patented. Then it becomes like, do you wanna fight in court? Do you want to take the risks? Then it's more about muscles behind it. Yeah. It's very difficult. The special sauce in our solar cell, you know, all these tricks that we have, makes it extremely difficult to reach that structure anyway, yeah. Yeah. Yeah. Good luck. I think. We have two minutes left. We have one last question from the online audience. They're asking, "If you go public, would we then publish long-term growth targets and KPIs and et cetera?" Should I answer? Yeah. Yeah, okay. We will behave like any normal listed company would in that listed environment. We will not try to or want to deviate. We want to be compliant. That's the word. Exactly. Thank you. We have to be compliant. We have to follow the rules. We will do and behave like a normal listed company would with a much, you know, a completely other kind of information routines and structure in that, so that's for sure. No problem with that. I think it's 8:00. We won't keep you anymore. Thanks a lot for all the good questions. Thanks for listening. Thank you for supporting us all the time in all aspects by being a shareholder, finding information for us, helping us in any way. Thank you and Merry Christmas.