Yeah, I think it's time. To start the meeting, I would like to welcome you to the investor seminar, sorry, webinar, for Eevia Health. I'll just start by sharing my screen. Just before I go ahead, again, I wish everyone welcome, and we will have a presentation. If you would like to ask questions during the meeting, feel free to—there's a button, a hand at the top of the screen, and you can push that and kind of wave the hand, and then we would stop and let you ask—open the microphone and let you raise a question if you'd like. We'll also do the same afterwards. After the presentation, we'll have a Q&A session, and you can wave your hand, and then we will open the microphone. You can ask questions. There is also a Q&A function, so you can also ask questions by writing using the Q&A function in Teams. Anyway, unfortunately, Terry Virts is opening a huge photo exhibition in Austria today or this week, so he could not join us today. He was there on Tuesday, but I'm happy to have Erik Eide, who is our global commercial director and director of sales, and also our CTO, our Chief Technology Officer, Petri Lackman. The three of us are hosting this meeting, and we will share some thoughts with you on our company. Just for those of you who have not been familiar with us from before, we could say that we are a small company in Finland. We were founded in 2017. We are a micro cap, literally. The market cap right now is EUR 400,000 today, and that's, in a way, one aspect of the company. We are a manufacturer of nutraceutical ingredients, and we are experts in what we call polyphenolic compounds, particularly harvested or manufactured from wild harvested material from the Arctic. Recently, we have been doing strategic reorientation, and we're focusing now on very specific health problems within the gut and eye health, heart health. Already last year, starting last year, there was a drive towards changing our strategy towards what we call science-backed health claims. For that, we have been for a long time developing new ingredients, new plant-based ingredients for the nutraceutical industry, which have this type of scientifically substantiated health claims, which is slightly different from what we call compendial products, products that have a standard defined in some type of official monograph, like, let's say, European Pharmacopeia, as an example. A bilberry extract, which is defined by such a monograph, simply are quite the same across many manufacturers, which is different from a more proprietary formulation or product that is protected maybe with patents and so forth. Why do we do this? Simply, it's the law. You are not allowed in most Western territories to make health claims without documenting the effect. In the European Union or in the U.S., there are many laws that basically set the stage for having to substantiate your claims. That's basically something we have accelerated in a turnaround session we had in the fall of 2024, where we said that we need to move our strategy even further away from what we call raw material-derived focus over to health solutions, claim focus, which means that we're going away from compendial products and over to what we call condition-specific products or branded ingredients, some like to call it, which would have clinical data, clinical substantiation. In the same goal, so to speak, we would go from having a very broad indication span, talking about cognitive health, cardiovascular health, gut health, etc., over to really taking a position in a specific space. What our primary choice is gut health, although there are interesting things inside gut health. Kidney health is very close. Urinary microbiome is also relevant for gut. Basically, this is one of the strategies. The other, of course, part of the new strategy is to improve our resource space, being able to penetrate and do clinical studies that document our products. We chose gut health, and it's a very vast opportunity. It's a huge market, basically also growing and expected to grow very strongly over the next seven years. Multiple drivers are forcing this growth. People have real problems. There are real gut health problems. You will also see there's a lot of literature and media today saying about the linkage between gut and other health conditions, whether it's cardiovascular or cognitive and so forth. You have a relationship between the gut. Addressing the well-being and health of the digestive system is really core to almost all health areas. The difference we do, I mean, most of the gut health market is dominated by probiotics, type bacteria that you put into your body. We say bugs in a bottle. We have a very different approach. Our products, special polyphenols from the Arctic, basically help the microbiome to stabilize itself and addressing, via secondary metabolites, addressing multiple particular issues in the gut and in the kidney and in the urinary system. I would have Petri, our CTO, maybe explain a little bit more about what exactly our products do. Petri, please. Yeah. Thanks, Stein. In addition to the market push, a tremendous market push towards developing gut health ingredients, there is both established and emerging science that actually supports the function of a compound class called Proanthocyanidins in gut health, and especially in the maintaining of this, what is called a gut epithelium lining that can be better shown in the next slide. It is this one cell thick layer that is the barrier between us and our environment. Everything that we eat, every nutrient, every bacteria that we digest is influencing through this. Proanthocyanidins have been demonstrated to have a very, very interesting effect in there, maintaining this integrity, modulating microbiome, and basically just helping gut health in general. The idea of why we are going for the gut health is we want to exploit the innate efficacy of Proanthocyanidins towards restoration and maintenance of this very gut epithelial lining. Consume Proanthocyanidins, restore the normal balance and function of your digestive system. If you go to the next slide, you can see that we also have a very interesting opportunity coming from our existing portfolio that are already leveraging the Proanthocyanidins. We have both crowberry and lingonberry materials that have a very high content of Proanthocyanidins. Our approach would be to combine the best of two worlds, to have B-type Proanthocyanidins from crowberry, A-type Proanthocyanidins from lingonberry, and create the combination product that can actually help people. If you go to the next one, for this one, we are signing, and we probably will be communicating about this very soon. We are signing now up a world-class of sign partners to help us with this approach. For example, Dr. Hani El-Nezami is one of the leading authorities on gut health in Finland, works in two professorships in both the University of Eastern Finland and Hong Kong. Of course, from Karolinska Institutet, also Professor Johan Arnlöv, who is very, very deeply one of the leading authors in kidney health, which is actually also very much part of this digestive system that we work in. I think the next slide will be talking about market partners. Maybe that's back to you, Stein. Actually, Erik, maybe have a few comments too. Obviously, revenues. Even better. Yeah. Revenues are key to the whole thing. Erik, please. All right. What we see here is our current distribution and customer map. We have four major specialist distributors and one major brand customer brand manufacturer working across Europe, North America, and Australasia. The plan is to leverage this existing network, but in a slightly different way, with a new focus and increased focus on practitioner brands, the cutting-edge brands that take novel solutions to the consumer. They introduce them to new ideas that work, which are then later adopted by the major brands. We would use our existing network, move into a focus on practitioner brands, cutting-edge brands, the new direct consumer brands using Amazon that lead to the majors following. The focus, the calls to action with those customers would be these new substantive claims, novel solutions in growing segments of the vitamin and supplement space. Key features would be that we have this new approach. These are standardized claims or substantiated claims. It's a product that works from a consumer point of view, and this is important. It will be a sticky value proposition that customers will notice. It is sustainable and sits under the Nordic brand of quality. Go to the next slide, please. What we see here is our revenue over the past several quarters. What is clear is an over-reliance on one product with one customer, and then the surge and echo of COVID that impacted it. That major customer is still with us. They are simply full of inventory that they ordered more than a year ago. They have ordered new products from us in the meantime, and we expect them to come back online. This graph, though dire in one level, shows the opportunity immediately with our old business at the same time. We plan to bring new customers in with this new proposition and essentially add on these volumes with this new competitive opportunity. Stein, over to you. Yeah, what Erik kind of pointed out is, of course, at the end, it's all about revenue, customers, selling products which are solving real problems and real needs at the end for the consumer, but, of course, indirectly needs and problems that the brand holders want to make. Currently, Eevia also has a need to focus. That means that we have too many things in our portfolio, which requires funding and focus and resources. For that, we have also decided to accelerate our turnaround by doing a so-called divestment strategy. While Eevia will focus, we are also waiting now for a decision from Business Finland on a larger funding related to gut health. Obviously, there are other products. Microbiome has been mentioned, but we also have, for instance, a kidney product coming, ProRemis, and we have other products that will come out of this gut health focus. That is basically where Eevia will focus and build its revenue stream, basically branded, proprietary, scientifically backed products. The idea is that we will split out a wood-based. In the first step, we are splitting out a lead compound we have been working on for many years. It's a product called Retinari. Petri will talk about it shortly. If Havu can fund up, they might overtake other wood-based products. We are talking to a venture, or Havu is talking to a venture fund that is very interested, talking to Business Finland, and also Finnvera and other funding options are relevant for Havu. Havu means, by the way, pine in Finnish. In that way, the idea is actually to save Retinari because Retinari right now is worth nothing for Eevia. We are not able to fund it. We're not able to get through an obstacle, which is safety studies for humans. At the same time, we have another divestment strategy, which is simply to divest our berry manufacturing assets and competence and protocols and so forth into a new greenfield, which would then be simply the most efficient berry, or at least Arctic berry manufacturing facility in the world. Again, same thing there, needs funding, and we haven't been successful so far in Eevia for multiple reasons. There are also other reasons than funding that will be solved with this divestment, but basically non-dilutive funding, and then we'll have to see what other things we need to do there. That is basically the divestment strategy. I come back to each of these, but I think Petri first can explain a little bit about Retinari and the possibilities we have with Retinari. Petri. Yes. In case you're not familiar with Retinari, I will just give you a couple of slides about that. Basically, Retinari is a product in development that tries to solve a global growing problem that affects people's vision. In the Western world, where the population is getting older and older, there's a degenerative eye condition called age-related macular degeneration, or AMD in short, and that is already pushing the healthcare system to the breaking point. There are 200 million people affected already today, and 200 million more coming in the next few decades to come. The objective of Project Retinari is to try to reduce this AMD-related onset of blindness with a preventive nutraceutical approach, create a product that is able to actually slow down this development, reduce the economic burden of AMD, and so forth. The problem is basically illustrated in this picture. AMD is currently addressed only in the late stage by expensive and invasive drug injections to the eye. Once injections are necessary to maintain vision, it's immediately an expensive lifelong commitment that is a huge economical burden, not only to the people with AMD, but also to the healthcare systems. The product itself, it's basically a non-invasive dietary supplement that manages the problem already before the onset of AMD, years before injections are required. The product will basically slow down the progression of the late stage by restoring the capacity of retinal cells to maintain themselves. It's basically an ability that our cells lose when we get older. With Retinari, there could be no need for painful injections, no need for monthly doctor visits, at a cost that is probably less than 10% of the even most affordable injection option out there. Based on our preclinical research in AMD mice model, in the next slide. I just want to say that dietary supplement is a food category, but we are also looking at other food categories, for instance, something called food for special medical purposes, FSMP. In the U.S., they call it medical foods. There might be also special regulatory categories to bring this product to market. Yes. Based on our preclinical research in AMD mice model, Retinari indeed appears to be effective. It seems to be able to slow down the progression of AMD and perhaps even reverse the development. In AMD mice models, we have been able to show that consumption of Retinari actually restores the condition. Basically, it resulted in a recovery of already built-up damage and restoration of vision performance back to normal levels, which is really nothing short of remarkable. Yeah, that's basically Retinari. Yes. Maybe two words about our other divestment, which is Bacca Salus. The idea here is to simply split out berry-related manufacturing assets and divest that to a new greenfield, a new company in the north of Finland, basically the northernmost city in Finland, Kemijärvi, which is inside the area of Lapland, and which is also, by the way, dead right in the middle of the best harvest areas for the most potent Arctic berries. It is also an area where you have maximum support rates in terms of grants and other types of non-dilutive support. It is a nice area to be in from a funding perspective and from a raw materials perspective. It gives us a chance to look at the possibility of solving some of the compromises we have in our current facility in the south of Finland. Yeah, in short, what Bacca Salus will do, it will attack two things in particular. It would attack conversion cost. It would lower the conversion cost of producing these berry extracts. It will increase the yields, which are very key to lowering the cost of producing the products. Basically, that will allow us to compete with the lowest cost producers in the world, particularly Asian manufacturers of these types of berry extracts. We will be competitive again on competitive berry extracts. Coming back to Eevia, these types of divestments will be done mostly by divesting equipment and assets, but we will also let personnel transfer to these new entities. That means that the development in personnel in Eevia will be dramatically lower. That will, of course, have a positive effect on our payroll or personnel costs. At the end, the target here is, of course, to regain the revenue growth of Eevia Health. As you can see here, we had a fast growth, as Erik was pointing out earlier. In 2021, 2022, we saw quite fast growth. We had a lot of production issues in 2020 and 2021, which were fixed. We were able to improve our gross margin up to a level of almost 60% on average. Unfortunately, we had this collapse with one customer, one product, which brought down revenues in 2024 quite dramatically. The blue here is actually adjusted revenue. The unadjusted revenues are short of EUR 2 million, EUR 1.8 million. The report actually came out yesterday, a year-end report. I have to underline that the graphs here are more targets. We have communicated a EUR 3 million target for next year. We think it's a modest target. Of course, the idea is to also bring the gross margin and the gross profit up. In 2023, we had our first year with positive EBITDA. This year will be negative, but obviously, we need to bring back both growth and profitability to our company. To reduce the financial pressures in Eevia, we will have different ways of improving our networking capital and reducing the debt level in Eevia, at least for now. One is some type of proceeds from the rights issue, as expected. Here we have just put in EUR 500,000. There will be cash payment also. Bacca Salus will also make cash payments to Eevia for the equipment, not only a partial payment. Some of it will also be converted to shares. The idea is that the shares will be given to the investors or the shareholders of Eevia as a dividend, and preferably what they in Sweden call a Lex Asea dividend, so basically a tax-free dividend. We also are reducing inventories. In the fourth quarter last year, we had about EUR 325,000 reduction in inventory, and we hope to do another EUR 500,000 now. We have quite a high inventory, and we're trying to sell out of inventory. That will also release cash. We have already agreed almost EUR 300,000 in debt-to-equity swap with creditors. Slowly but surely, our working capital situation will improve. In summary, what we get, what our shareholders get, they get three very focused business entities that have a very, very clear idea of who is the customer, who are the target groups, what is your value proposition, and how are we going to compete. We do this with, of course, the focal point being Eevia Health, but these two new divested companies will have value options that are incredible. I think that can cause significant upside for the shareholders as we go along. Each of these, all three companies, have very interesting inflection points already coming now in the spring and the summer and in the fall. I think it will be a new ride we are going through, which will be interesting. That is my last slide here. Basically, we are doing a rights issue. We are looking for SEK 12 million, Swedish krona, which is about EUR 1.1 million. It's happening now. I realized I forgot to put in here the subscription period, but the subscription period is ending on 18th of February in Sweden and on 20th of February in Finland. Basically, you have next week and then a few days into the week after before the rights issue is closed. There's about 67 million shares currently, and we'll offer the double, 135 million shares. It's a highly diluted share issue, which is something current shareholders need to consider. The money valuation is SEK 6 million, so EUR 500,000. In Finland, it's Nordea Bank that is the issuing agent. It's not the issuer, but the issuing agent. In Sweden, it's the Aqurat Fondkommission. There's a landing page where you can subscribe in Sweden and in Finland directly to Nordea Bank. Yeah, and I'm 100% committed to Eevia, and I'm planning to now when the annual report, or excuse me, the year-end report and the quarterly report is released, I'm not longer in a trading ban. I'm open to, I have now freedom to also invest, which I will do in this rights issue. I have an incredible belief that we can see a very interesting multiple from this market valuation we have right now. That was what we had for today. Thank you for the attention so far. I haven't heard anyone. I think I'm going to stop sharing unless it's necessary. As I said in the beginning, there's a raise, a hand at the middle of the banner at the top. If anyone wants to ask any questions, you can just push the raise and wave the hand, and then we would open the microphone for you if there are any questions. While people think a little bit, I can just start a little bit just asking Erik, maybe you could give three words to what kind of triggered this strategic redirection besides the need for substantially the claims? What did not work before? I think at the heart of it is compendial extracts is hard work. Without going too deep into it, the issue is you have well-developed major Chinese manufacturers that are good at doing this on a basic level. As much as customers would like things like organic or natural or sustainable, in essence, the businesses that direct towards those customers work on cost. That led us to realize that although switching was a good idea for customers, it was a difficult jump and had risk that we as a manufacturer supplier do not appreciate. That risk and the struggle to break into this compendial market focused us on what we do well, and that led us to these substantiated solutions and this team of experts and the sense that the reward is sitting in front of us still, and we have a little bit more work to do. Here we are. All right. Lourdes, I have not seen any hands up, but maybe we answered all the questions in the presentation as possible. All right. We were fairly effective, so 28 minutes is good. I think, yeah, I mean, we are very confident in our strategy now. There is a lot of excitement inside the company, and we are working harder than ever before. A great team. We will be very happy for subscriptions to the equity issue because in this roadmap we have with different types of public funding, obviously, the rights issue is also key to, it is a key signal also to Finnvera and banks and Business Finland and so forth in terms of providing non-dilutive funding. We hope, of course, the rights issue will be successful, and we are available to answer further questions. Also next week, we probably will arrange another one or two webinars next week, but we're free also to take questions, and you can send us questions by email or contact us. We're very happy. It is also possible to agree one-to-ones for those who would like to ask further questions. Otherwise, just follow the news flow. We have a lot of things coming. That is, of course, also something that will be relevant for our subscription. That is rounding up to 30 minutes. I really appreciate you taking the time. Thank you for taking the time, and I would like to say have a great day. I will close the meeting for now. Thank you. Bye-bye. Thank you, everyone.