Welcome to this webcast hosted by Intellego Technologies, presenting the KPMG independent forensic report on the financial information and corporate communication presented by Intellego. The report is now published. You can find it on the company website, intellegotechnologies.com. This webcast will be published on the website after this presentation, and a Q&A will be published. The Q&A session here will be published as a transcript in English also on the website. So you have the release, the report later on afterwards, the KPMG presentation itself. Our agenda today, we will get the introduction from Intellego's acting CEO, then KPMG will present the report, and then we will have closing remarks from the chairman of the board of Intellego. We will then open up for a brief Q&A here, in the room, and then, we will do one-on-one interviews with media who are here in the room. Welcome to you all. And during the Q&A session, we will practice both English and Swedish. By that, I now give the floor to Jacob Laurin. Thank you very much. My name is Jacob Laurin, and I am a board member in Intellego since May 2024. Let me make a short recap before we start. On Tuesday, November 18th, our former CEO, Claes Lindahl, was arrested and charged with fraud by the Swedish Economic Crime Authority. The day after, Nasdaq halted the trading of our share, and the following day, I was appointed interimistically as the CEO of the company. We took several actions at that time. First of all, we relieved our CEO from his CEO duties, and we suspended his access to our company servers, accounts, bank accounts, and access to other documents. We contacted the prosecutor's office in order to find out more about the allegations and also to assure them that we were fully supporting this investigation. Further, we spoke to key customers, staff, and other stakeholders to describe the situation, but also to discuss contingencies. Last but not least, in order to get a swift and accurate and unbiased investigation, we appointed KPMG forensic team to go through and do an investigation of our accounts and the capital marketing, capital communication to the market in 2025. The Intellego board assured the KPMG team that they had full independence in doing this investigation, and we have maintained regular contacts with them, providing them with information and answer questions as the work progressed. Now, in January, we asked for an extended scope of the KPMG investigation to also cover accounts from 2024 and earlier. This work has started but is not yet concluded. Today's report deals with the transactions of 2025 only. A report of the extended scope will come at a later date. The report and the presentations, as you have just heard, will be available on our website from now on. Thank you very much, and with that, I would like to leave the floor to KPMG, Martin Krüger, and Olof Matson. Thank you. My name is Martin Krüger. I'm head of KPMG Forensic and a partner at KPMG, and we are now going to do a summary on presentation of our independent investigation. And we have an agenda for this. We will first go through our engagement, what's included in that, then we will go directly into our conclusions that we have made at activities during our investigation so far. As a start, and as also Jacob mentioned, we took, when we started this, the purpose of the investigation overall was to do an independent investigation due to the raised remarks in relation to market communication and especially reported revenue during the first three quarters in 2025. We could conclude quite early in this investigation that SEK 640 million, out of the reported SEK 644 million, originated for 8 large purchase orders. In that case, we all definitely made our to focus on these specific 8 orders and the recognized revenue in relation to that. This recognized revenue and the information in relation to that was in 5, and that has been our focus and scope. And finally, I would also say that we have investigated things in relation to the parent company, Intellego Technologies AB. That has been our scope. We have, of course, a specific methodology or forensic methodology to follow. First of all, we get a full access to Intellego's accounting system and all the supporting documentation that's related to the accounting systems. That is normally not enough to conclude on this kind of investigation. Therefore, we have also gathered and leveraged upon several couple of data sources to conclude the authenticity and existence of the recognized revenue for SEK 640 million. What kind of examples of sources of information have we used then? Of course, the accounting records, bank statements, annual reports, but also, in addition, we have gathered 600 GB of digital information, such as emails, Slack messages, and things on Google Workspace. A total of 367,000 unique documents has been downloaded and been put in our analysis tools. We have, of course, also gathered information orally from interviews, selected customers, suppliers, and staff. This has been a large and complex investigation that has required experienced forensic expertise, including, of course, the uses of forensic technology. There are a few limitations and extra things that we'd like to mention in this case. Due to the ongoing investigation by the Swedish Economic Crime Authorities prosecutor, we have not interviewed the former CEO. We have not been engaged to investigate and conclude on any legal matters. We do not provide any opinion in respect of any individuals who were the subject of our work. This is not a report that is equivalent to a financial audit and does not provide any so-called audit assurance. We have gathered information up until this date, so the information is, of course, based on what we have received and gathered up until now. We also want to address and tell you that the Board of Intellego has been provided with extensive working material, supporting, of course, KPMG's conclusion and findings. This working material includes detailed information, and due to concerns of both data privacy and corporate sensitive details, this material cannot be shared publicly at this stage. Yes, and as Martin mentioned, the table here above showcases the reported net sales of the parent company, Intellego AB, and also the recognized revenue from these eight purchase orders in question. To the left, on a quarterly basis, to the right, on a cumulative basis overall. The investigation concludes that Intellego's communicated financial information for 2025, including the quarterly reports and press releases, was materially incorrect and misleading, of which SEK 640 million should not have been recognized as revenue. The reported revenues and the stated value of the eight orders in question do not reflect the underlying business. We have not identified any documentation or evidence that the collaboration exists between Intellego and the customers in question. However, the overall conclusion is that these partnerships are forward-looking and represent potential future revenue opportunities and not current ones. During the course of the investigation, we have identified that several versions of these 8 purchase orders in question have been produced. Our analysis identifies one set of versions communicated and discussed with the potential customers during the negotiation process, and another set of versions that has been used as the basis for issuing invoices and recognizing revenue. According to interviews and email searches, the former CEO repeatedly suggested and justified large purchase orders in the dialogue with customers as instruments for market communication and to attract investors. The purchase orders discussed or agreed with the customers have in common that they are all open-ended without any obligations and include several significant conditions for the purchase orders to be valid. Although the discussed or agreed purchase orders reflected prospects of future business, the former CEO provided the accounting firm with altered versions of these purchase orders, having removed or changed all or most of the critical terms and conditions, as well as additional information to be able to justify the recognition of revenue. The former CEO has requested the accounting firm to create an invoice, recognize the revenue, and send the invoice directly to him instead of to the customer. According to interviews and email searches, the former CEO has exclusively been the one at Intellego who has communicated with and informed Intellego's accounting firm in respect of the accounting treatment related to these specific eight purchase orders. Okay. Yeah. Yeah, I guess. No more slides? No more slides. No more slides. Then we say thank you, KPMG, and we have remarks from the Chairman of the Board, Greg Batcheller. Well, thank you, everyone here in Stockholm and everyone online for joining us today. I've been chairman of Intellego's board for almost 2.5 years now, and I've worked with biotech, life science, and med tech companies for the last more than 25 years, working with good, honest people to develop their technology and their research into products for patients, healthcare systems, and society at large. And we in Intellego also have technology and products that can benefit patients, healthcare systems, and indeed other industries. And it's particularly distressing when something like this happens. In fact, I would say it's sickening. I want to thank Martin Krüger and Olof Matson and the whole KPMG team for the work that they've done. It's a very important task that they took on, and I think they've done an extremely good job. This report is our first look at what happened here. And what it shows us is that Intellego has been the victim of a monumental fraud perpetrated by one person, the founder and longtime CEO, Claes Lindahl. Now, I'm not commenting on any criminal matters. That's for the prosecutor and the courts. I'm talking about fraud in general, and I think this will undoubtedly go down as one of the most notorious frauds in Sweden. And I do wonder if Claes Lindahl will be remembered as the Bernie Madoff of Sweden. As I said, this is shocking and distressing for everyone involved, and it affects many thousands of people, not least our 19,000 shareholders, many of whom are joining us online today. Everyone connected with this company has been victimized and deceived by this expert fraudster, and this includes not only the board of directors, and I can tell you we have had no idea that this fraud was being committed at any time. But the deception goes well beyond us. Claes was able to deceive and victimize our employees, our suppliers, our customers, accountants, auditor, bank, the Export Credit Agency, institutional investors, shareholders, and many more. And were able to use their investigative tools to uncover what happened. What we have seen in the KPMG report is a pattern of fraudulent behavior that extends throughout 2025, and we believe it goes back to 2024 and further. These earlier periods, as Jacob said, are still under investigation, and a further report will be forthcoming. This scheme of fraud follows a pattern, and it's a pattern where legitimate business agreements, collaboration agreements, development agreements, other types of agreements were entered into. We were never shown those agreements. They were taken. They were altered. We had a document with a client's signature on it. The terms were altered. They were forged, and that's the document that we were presented with, an unconditional purchase order for our goods and services. And that purchase order was then used to instruct our accounting department to issue invoices, fake invoices, and those invoices were never delivered to our customers, but the revenue was included in our accounts. Now, we have confirmed, and KPMG has confirmed, that our customers never received these invoices, they never heard of these purchase orders, and they don't consider themselves to owe us any money. In one case, this scheme was even taken to a higher level when Claes sold three of these fake invoices to the Export Credit Agency for real money. SEK 130 million, EUR 11.6 million is what it was. It's like picking the pocket of the Swedish state, and it's appalling. Now, we asked KPMG to investigate independently and to turn over every stone, and this report confirms that thus far, all stones reveal the name of Claes Lindahl. There's no one else's fingerprints on this than Claes'. The question is: how did he get away with it for so long? The internal processes and controls of a public company, the oversight of accountants, auditors, and board, and every other safeguard have failed in this case, and the reason is that Claes was a very expert forger and fraudster. I do not think this case exposes weaknesses in the system of corporate governance, or good practice on the stock market, or the need for further regulation. I think it proves that a determined and capable fraud artist can get away with it, despite the best rules and oversight. For the company itself, we must draw a line at November 18, 2025, the day that Claes Lindahl was arrested. And we must look to the future of this business to ensure that its value can be realized for-- There is a very viable business in this company. We have a technology and products built around a technology, which are recognized by customers and others in the market as world-leading. So our task is to ensure that we can continue to develop and commercialize that technology and those products. Since November eighteenth, Jacob and I have spent a lot of time in dialogue with our collaboration partners in Europe, the U.S., and Asia, and we are convinced that over the next few years, the UV disinfection industry will deliver on its potential, and our customers understand the competitiveness of our products and their commercial potential. So we're very hopeful that they will continue doing business with Intellego. I think we should also remember that we have our subsidiary in England called Daro, which employs around 50 people and, and works in the UV disinfection field and specialty lighting fields, and generates around the equivalent of SEK 85 million in annual revenues. At the moment that we are well aware that very many of our shareholders would like Intellego to remain listed on Nasdaq First North and for the stock to resume trading. We are working with Nasdaq as best we can to convince them that this massive fraud on the company and its shareholders should not be the cause of further punishment for our shareholders by a delisting. We hope for the chance to present our new financial statements, our new organization, and our new strategic plan-... To support our case, to remain listed and to resume trading once all the relevant information is out in the marketplace. With that, let me turn it back to Jacob, who will tell us a little bit about the next steps. Thank you. Thank you. Before we open for questions here today, let me say a few words of what lies ahead. Last week, Nasdaq decided to request their disciplinary committee to recommend that we were delisted. As Greg just said, we have done, and we are still doing our best to persuade them that it is not in the interest of the shareholder or the best interest of the shareholders to delist our companies, rather to make sure that the trading resumes. To delist it, it would not protect our shareholders, rather the opposite. The board is working very hard to put the company in shape, as Greg said just now, to meet all the conditions to let that trading resume. We are also exploring other alternatives, alternative trading platforms. On February twentieth, the board will present the company's fully restated accounts. We will also present a business plan for 2026 and onwards in connection to that. Until then, we will refrain from commenting on the company's finances and the business outlook. On February 23, an extraordinary general meeting will also be held, and the new board will be elected. The company needs a fresh start. I'm willing to continue to serve Intellego in whatever role or way that benefits the shareholders and the company, of course. With those words, I'd like to say thank you very much. [Foreign language] We will now do the Q&A in Swedish, and can have all four of you here on the stage, please. [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] I think the answer is that, you know, Claes Lindahl has been an expert fraudster here, and nobody had any idea that this was going on. And, you know, now we've discovered what it was when the economic crime police came in, they put an end to it, and now we know. But he's an expert fraudster. [Foreign language] [Foreign language] Can you say that again? [Foreign language] [Foreign language] Sure, I mean, there's many things that have been said about Intellego in the broad, on and underway here. So we had no, no indication whatsoever, and we've had many, many affirmations. Of course, we've asked questions about the business, just like the media has. But we've had many, many affirmations throughout the period of time, from our audit, from due diligence done by other parties, like banks and investors and so on. So, you know, we've looked at things and thought that these are the normal growing pains of a growing technology company. Things like our business terms, our communication in the marketplace, and so on. But none of that gave us any clue that there was this monumental fraud underway here. [Foreign language] [Foreign language] [Foreign language] [Foreign language] I believe so. [Foreign language] Say it again. [Foreign language] Well, like I said, you know, what we saw was not warnings of a massive fraud taking place. Not at all. What we saw was people raising concerns about aspects of our business, concerns that sometimes we shared, sometimes we didn't, and, you know, concerns that were normal concerns of a growing technology company, in my experience. So I would say no, the answer is no, this did not raise a warning of a massive fraud. No. [Foreign language] Well, I can tell you, our business is not, you know, run on articles that we've read, but they of course, they informed our discussion. And of course, we have discussed issues that were raised in the media, such as our business terms, the nature of our customers, the nature of this industry, and so on. Yes, of course. [Foreign language] [Foreign language] Yes, that's correct. So far, we have seen no one, no other person involved except Claes. [Foreign language] But the investigation goes on and of course, the criminal investigation goes on and that's completely separate. [Foreign language] [Foreign language] [Foreign language] Yes, the answer is yes. I myself have been to China to visit our, our major customer in China. I've visited with them four times. I've seen the, the excitement that they have for our, our products. I've seen the work that they're doing to launch these products in China. I've seen the potential that they believe these products have in China, which is a vast market and will be our, our biggest market in the beginning and maybe always. Så, you know, we, we have done that kind of due diligence. We've also spoken, of course, to, to other of our, our customers, yes. [Foreign language] Correct. [Foreign language] Say it again. [Foreign language] No, I mean, when we were in China, they were talking about preparing the market. They were doing market research, they were doing customer interviews, they were doing clinical trials. They were doing all kinds of work, and they were offering our products to 1,000 hospitals. With a view to launching in full when the regulations in China come out to 3,000 hospitals. So absolutely. [Foreign language] [Foreign language] No, the launch in China is dependent on regulatory factors, as was clear when we talked about it. So these products need to be registered in a regulatory manner in China before they can be launched. And the regulatory changes, for example, with our dosimeters, have not yet occurred. We thought they would occur last year, but they're still not introduced yet. We expect it in the first half of this year. So that's one thing. So there's that delay. And the other product we have in China, the other major product that we have, called QIKcap, is only recently approved by the FDA and is under regulatory work in China. So those two products, which are the biggest products, are not yet really on the market. I mean, we can, we can market the dosimeters, but the, the regulations that will drive the adoption of them does not yet exist. [Foreign language] No. [Foreign language] [Foreign language] [Foreign language] [Foreign language] [Foreign language] Stämmer det här verkligen allt, allt som händer? För det växte fort de sista tre åren, som ni har sett. [Foreign language] [Foreign language] [Foreign language] [Foreign language] Sure. What I would say is that it was a very large order. This is a very interesting establish the UV disinfection business in the German market. Once they are successful in doing that, all the hospitals in Germany will be motivated to use UV disinfection, to buy UV disinfection equipment and dosimeters, and it's a very large market as you can understand. So this was not a large order in terms of the size of the German market and, and the number of hospitals in Germany. It was a large order for one time, and we, we did receive misleading and false information about the delivery of this equipment. But they had also been given time to pay, because obviously, they're not a company yet of that magnitude. But as they established this market and began to distribute this equipment, they would become a company of that size. And that SEK 22 million was to be paid over two years. That's what the fake purchase order said. The real agreement with Claes and MoveoMed was that maybe they would do that, and maybe it would happen, and maybe it would happen over five years. And that's what he then turned into a fake purchase order with the machines all being delivered in that quarter, and he had a document confirming delivery and a two-year payment time frame. [Foreign language] [Foreign language] As Jacob has said, the company needs a new start. There will be a general meeting in three weeks time to elect a new board, and our expectation certainly is that none of the current board will be on that board. [Foreign language] Yes. [Foreign language]. Thank you all watching online this press conference. Thank you, and you can find all the material on the intellegotechnologies.com