A warm welcome to this investor call. I'm Jesper Møller, Chairman of Linkfire. Next to me is our CEO, Lars Ettrup, and Tobias Demuth, our CFO. I've decided to join today since a lot has happened around the company over the last couple of months, and we thought it would be worthwhile that I'm also here to speak to our shareholders and investors following the company. We have an agenda, a short agenda we'll go through. An intro from my side, a status on where we are as a company and reflections on what has happened lately, an assessment of the financing options we have been looking at, the process we've been through and the impact of that, and then, of course, a Q&A session. The reason why we are hosting this call today is that we find it important to have a transparent relationship with our shareholders and with the capital markets. There's been a number of announcements from our side concerning cost structure, financing, and so on, and we would like to build on those and be able to go in more depth. Now, I would like to hand over to Lars, who will take us through why we're here today. Yes. Why are we here, and why is the business where we are? Since the IPO, we invested heavily in growth. We scaled up on the staffing side. We scaled up on attracting more traffic, more traffic partners that could generate more traffic. Of course, also in our core marketing platform. Today, our platform accounts for more than 90% of our revenue. The partners that we invest in heavily have a longer return on investment than are dictated in today's market. What we have done is we have cut costs on the partner side of things. We can still see that there will be a return on that investment, but we're basically just cutting it down to a minimum and still focusing on that. We can just see that if we direct the cost more towards the platform where our predominant revenue is coming from, we can see a faster return on that investment. Today, we are targeting operational freedom and break even. We can see with the cost reductions that we have recently done, we're expecting our cost base to go from DKK 85 million to approximately DKK 50 million. We're expecting EBITDA break even in the H1 of 2023 and an operating cash flow break even in the H2 of 2023. Yes. Elaborating a bit on that in terms of financing options. The cost reduction that Lars just mentioned has, of course, fueled these dialogues in terms of the assessment of the size of the amount, the alternatives that we've been evaluating. We've been evaluating this both from the board side, of course, but also from management on approaching this in order to secure operations, in order to reach this break-even point, so that we can maintain our operations and still retain growth as well. In this, we've investigated a number of alternatives, both a rights issue, a debt intake, and also this directed issue that we are issuing. We've approached a significant part of the capital base in this process, and we've looked at the dilution in all of the cases, monitoring the price, monitoring the structures, and so on as well. The directed issue has a lower dilution than any of the other alternatives that we've been looking at. That's also, of course, looking at the broader shareholder value that we can create. In the rights issue, there was a large amount of transaction uncertainty because getting to a large amount of guarantee or high amount of guarantee in this market is more uncertain, and the terms are, of course, tough. The process in alternative scenarios are also longer, and the time restriction is then becoming more bigger, so to say. In other alternatives, we've also been looking at, of course, the cost to the company, which can be financing cost and guarantee cost and the like, and they have been taken into consideration going with this directed issue as well. Talking about debt, why have we not taken in debt? It's clear in these markets that there's low stock liquidity in our stock. There's a high debt to market cap ratio, and those have been the main restrictive factors. That's simply what we've been monitoring. Of course, the cost to the company, the financing cost of the funding. All in all, what does this mean to the company? It means that we have the funds that we need to reach break even. Because of the cost reductions that we've done, we also reduce the risk in our break-even plan. We need to simply reach less revenue in order to break even. We still continue to deliver growth, and we can continue that because of the fundraise that we're doing here. What does it mean to the investors or to our shareholders? It means that there will be a dilution of the first tranche of 48%, and that's because the entire capital raise has been committed, but it's been being raised in two tranches. The first tranche is 48%, and the maximum dilution of the total capital raise is 65%. Having concluded tranche two on the exact same price. The condition here is that we are able to raise tranche two at better terms if we can, and that's our firm belief that we are able to or at least pursue this. That's a quick run-through of the terms and the processes, and we'll leave it up for the audience to ask some questions as to these latest announcements. Yes, indeed. Feel free to enter any questions that you may have, whether in terms of company strategy or operations, in terms of finances, or in terms of shareholders. Mm-hmm. We're here to answer any questions that you may have. We deliberately tried to keep this very brief, and basically make ourselves available for any questions. Yeah, we have received some leading up to this call, and we have tried to address those in our comments here. Yeah. We'll give it. Let's just keep it at 30-60 seconds. 30 seconds, yeah. If there's nothing. Any questions? Nothing coming in. What is the quantum and the price per share of the share issuance? I can speak to the subscription price in the directed issue, and that's 0.6 SEK in the first tranche. That is, as for the first tranche, locked at this minimum price. Then for the second tranche, the company has the option to attempt to raise the H2 of the commitment at better terms, so also better price. The guaranteed price is 0.6 SEK. Yeah. Let's keep it going for another 60 seconds just to let- Yeah. The people have the time to get to the keys. Yeah. I can talk in the meanwhile a little bit about our platform and what's happening in the business. As I mentioned, now we are focusing more on our efforts and resources on the platform side of the business. It's not that we don't believe in the growth of the partner side of the business, we're just seeing a longer return cycle on that. We're focusing on the platform side of the business, and that's where our predominant revenue are coming from, both in terms of subscriptions, but also in terms of commissions. Therefore, we expect to be able to see continuous growth going forward. Yeah. In the meantime, a few questions ticked in. One is asking, there's no lock-up period on the shares to be issued. In fact, there is, and that was part of the announcement that we did as well. There's a six-month lock-up on both tranches and the commitment from our new investor now. What's your churn rate? We don't report on our churn rates. No. We have a really good net dollar retention rate, and all our SaaS metrics on the platform side are well within the average SaaS benchmarks and so on. We don't disclose churn rates. When we are saying they are well within, it's some industry benchmarks that we are measuring upon. It's LTV to CAC of 3, and a CAC payback of 12 months. That's like regularly accepted metrics as well, and those are what we are measuring towards. Correct. Let's see if there are any more questions coming in. If that's not the case, then we can say that on the twenty-fourth of November, we have our Q3 report coming out, and we'll of course go further into detail on the Q3 performance there. Also the results of the cost reductions that we have, that we've done now. We also have our extraordinary general meeting on Monday next week, on the fourteenth, concluding on the share issue. Another question came in here. Is the share issuance preferred equity? No, it's not. It's. We are issuing common stock in this round as well, so we are not adding any share classes or preferentials or preferential treatment as such, so it's common stock. Is CapEx being reduced by a comparable amount to OpEx? Yes, that's the case. The cost reductions that we have done are done across the board, across many departments, focusing on, as Lars mentioned, on the partner side. That brings down our investment into development projects as well. We expect a reduction in CapEx comparable to the OpEx reduction as well. Great. We'll wait another 30 seconds. Yeah, let's do that. If we're seeing questions coming in, I also think it's only fair that you have a chance to type them in, obviously, as well. Yeah. Great. All right. Yeah, if there are any more questions, then of course feel free to send them to us at investors@linkfire.com, and we'll address them both on a one-to-one basis, and if there's anything that we deem is of a broader nature, then of course we'll bring it to our Q3 call as well. Yeah. Yeah. Exactly. All right. Cool. Thank you from us. Thank you for participating, and thank you for your questions. Have a good day all.