Please note, this event is being recorded. I would now like to turn the conference over to David Barnard with LHA Investor Relations. Please go ahead. Greetings, and welcome to today, today's conference call to discuss WiSA Technologies $210 million definitive agreement to purchase assets from Data Vault Holdings. At this time, all participants are in listen-only mode. A brief Q&A session will follow the formal presentation. Again, as a reminder, the conference is being recorded. With us today are Brett Moyer, CEO and President of WiSA, and Nate Bradley, CEO of Data Vault. Before turning the call over to Brett, I'd like to remind everyone that today's conference call will include forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from these statements. Any such forward-looking statements should be considered in conjunction with the cautionary statements in today's press release and presentation, as well as risk factors discussed in our filings with the SEC. WiSA assumes no obligation to update any of these forward-looking statements, except as required by law. With that, I'll turn the call over to Brett. Please go ahead, Brett. Good morning. I'd like to welcome all WiSA shareholders to this call, and it's really my pleasure to introduce you guys to Nate. This is quite an exciting time for us with this opportunity coming around. Nate and I have been working on pulling this transaction together since probably back in April. And as I've gotten to know Nate, I really respect his ability to monetize IP and provide leadership to technical teams. So without going through a long preamble, just going to say that this is a great opportunity for us, and I'm going to turn it over to Nate and let him introduce himself and how we're moving forward into the blockchain and AI markets with his technology. Nate? Thank you very much. Thank you. Thank you, Brett. I appreciate it. This is Nate Bradley speaking. For those of you that don't know me, my background is really around technology and invention. I got started really around internet radio early in my career, and have advanced into really blockchain and artificial intelligence and the use of technology to aid companies in converting data assets into bottom line assets and turning really data into cash, like Bloomberg's done, for the last forty years in this country. We are a pop-up or an ability for companies to monetize data, and really, the foundations of my experience are steeped in technology patents. I've been fortunate to be part of teams that have created invention. And one, for example, is AudioEye, ticker AEYE, NASDAQ-traded, also Marathon, and also NASDAQ-traded MARA. These are companies where I had foundational involvement in terms of developing the strategies, and these strategies are largely around intellectual property patents, their reduction to practice, and their commercialization. My strategies over time have been improved. You get better in life, and this strategy here is a collection of patents when you look at what is the combined company moving forward. We have taken a strategy where we have developed a technology platform that is adjacent to the WiSA platform, one in which we can leverage into a commercial business where we license either jointly or independently these assets. If you look at the combined company moving forward, we've achieved this through an asset purchase by WiSA. WiSA is purchasing assets from Data Vault Holdings. Part of our holdings there are really two flagship properties that we've developed over the last five years, Data Vault and ADIO. These technologies, which I'll describe, have really proven themselves in the marketplace. They're developed from a strategy around a collection of inventions that solve for tokenomics. We use tokenomics strategies to get data to turn into cash. We're also able to collect and refine data and create data for virtual utilities, including digital twins and the access to really a blockchain immutability around credentials and identification. With WiSA, we've cultivated this incredible acoustic sciences division. If you look at their work and their kind of exquisite work with respect to the technology they've created, they've created a utility that makes wireless HD transmission and the ability to ubiquitously connect to audio devices through a technology that is seamless and integrated. They're also got points of presence in the marketplace that are very advantageous to Data Vault and our ADIO system, which I'll explain. There's an acoustic overlap between these companies, where we identified why WiSA should purchase assets from Data Vault Holdings, namely Data Vault and ADIO, and develop them now in commercialization. Timing to market here is perfect. We've spent the last five years filing patents and writing code and doing careful pen tests in large scalable markets with big brands. We've gone a mile wide and an inch deep into highly scalable vertical markets. We've cut our teeth on key clientele and big brands, which I'll explain, that allow for us to have an explosive market opportunity moving forward, where we monetize these assets within biotech research, education, fintech, and real estate, healthcare, energy, and more. We have a number of proof of concepts already in place with large clients. We've also got scalable markets and ownership around them, including education, where we can prove credentials, so we can go to the next slide. If you look at where we've built our patent portfolio, we've been very careful to build a patent portfolio within data and acoustic sciences that leverage blockchain and artificial intelligence. We've had precursors to this market, being, you know, revealing itself, to the world. As we move forward into commercialization, we have partners that are aligned with us to leverage these technologies inside scale. If you look at the growth rates of both blockchain and artificial intelligence, our systems, our technologies, and our patents are built into these scalable markets. The next slide. If you look at the combination of the companies, what's so attractive with respect to WiSA's acquisition of these assets of ours, the Data Vault and ADIO technologies, combined with the WiSA technologies, make up 67 patents with substantial coverages and claims of invention, thousands of claims, hundreds of individual inventions within a portfolio that is divided up into patents around artificial intelligence, patents in the area of blockchain, refined data ownership, the ability to claim and own your own data, to value it, to score it, and to move it to market. Just like Bloomberg does, we turn data into cash. We are a pop-up to his basic cable. We're the YouTube. We pop up inside companies and allow them to see the value of their data assets, and we have the ability to monetize. We have crypto anchors that can make data more trustable in scientific environments. We have immutable records that can tie that to the blockchain and have a utility around things like credentials and scientific research and other things. The ability to put our markers into glass, plastic, wood, paper, any substrate can take our anchors and communicate back to a Data Vault and have a blockchain, immutable record behind it. This is a utility that in combination with the acoustic technologies, we're able to create incredible utility for our customers, solutions to problems that have hampered our customers' ability to scale, to monetize data, to move things forward within science and other categories where our technology is enabling and speeds up processes that have hampered the growth of our clients, and we're able to relieve their problems through our solutions using this portfolio, and we're commercializing it together. WiSA and Data Vault, two teams coming together now to commercialize an opportunity in acoustic and data sciences, all patented, every step of the way, patented stem to stern. The next slide. If you look at the overall investment in that portfolio, there's been over $30 million invested in the combination of intellectual property and code. That code has been reduced to practice in a very simple platform. We've made the complex consumable through a data refinery, a system that can refine data, never needs to touch it, never needs to move it from our customer's sovereign locations. We're able to keep data in its sovereign form and where it is, where it lies. We do not need to move it, ingest it. We can look at it from a third set of eyes, a Web3 system that can objectify, understand, correlate, index, be it your librarian to any data assets across any organization, across any level of complexity. We simplify to a single platform that shows your entire data estate, your video assets, your audio assets, your telecom assets, your cash register. Anything that's developing data in your company can be refined into object, objects. Now, in the middle, the Data Vault, this is the secret sauce. This is the patented layer, Web3, where data can be valued, scored, and experienced. We're developing data perception technologies. We can use the sound capabilities of our acoustic division, combined with visual assets such as holograms and other assets that let you experience data and perceive data. Our ability to communicate with systems that have artificial outputs, where artificial intelligence is informing or giving us actionable intelligence, it is key for human beings to be able to perceive that data, to consume it, and to act upon it, and this is where the power of Data Vault begins. The Data Vault, the ability to score, the ability to value, the ability to monetize in a single platform. The last piece is the Information Data Exchange, which we're developing. It's really a chicken or the egg. You need buyers on one side and sellers on the other. The exchange has the ability to build up inventory, data inventory, and also interest from institutional buyers, Bloomberg, BlackRock, Accenture, Insights. There's a number of buyers of data that are institutional and large in scale. They're looking for more and more data. We provide that through our clientele, and we have a system of tokenomics where we never need to touch the data. We function like an eBay. The users, the buyers and sellers can be peer-to-peer, and we are a pricing valuation, secure cyber secure engine, for the processing, turning data into cash, using an acoustic division to authenticate, to provide cybersecurity, to provide authentication across identity from buyer to seller, to provide authentication of data asset access, and other things where our customers are able to vend data to authorized buyers in secure, systems. That's the Information Data Exchange. Two divisions, Data Science Division, Acoustic Division, driving revenue to WiSA. Next slide. The refinery and the vault and the exchange, these are the three primary components of our platform technology. The refinery develops revenues as we bolt on to any network, any systems, combining the telecom to the video, to the, to the traditional database-type assets. We're able to take the non-traditional and traditional assets, combine them in a Web3 layer at the Data Vault. We can value them, score them, and protect them, bring them to market and sell them on behalf of our clients who drop their data assets onto their balance sheet in the form of cash post-sale. We're also able to develop actionable intelligence and experiential data sets that allow for data perception, that employees and managers and owners can have very, succinct data perception about what's going on in their company, what when they have advantage, to seize those advantages through action. We develop that through the Data Vault. The Information Data Exchange, we have a scalable back end where we take a piece of interest upon every trade of data on that exchange. Buy and sell side, we're extracting value from the buyers and sellers in real time. This is the focus of the company, is to build up our Information Data Exchange around the proliferation of our data refineries, which include our acoustic division's ability to collect, index, and validate data, and then our ability at the platform level to score, optimize, utilizing blockchain and AI to make the maximum yield on behalf of our clients and WiSA itself. Next slide. In terms of our encryption and our underlying capabilities, as I mentioned, we built technologies into hot markets. We focused on AI and blockchain foundationally. We looked at data and the fact that data is underutilized. We have our clients that are suffering and drowning in their data lakes. They've created a ton of data. They call it big data, data lake. We help you fish the lake. We have information that allows you to identify objects and objectification, the replication, the copying of data assets into products that can be sold and securely and compliantly vended to a buyer. We've also focused here on compliance and the fact that we've gone a mile wide and an inch deep into things like fintech and biotech, and we've encountered the level to which they are under scrutiny, under compliance requirements with respect to their data, under burdens of management and cybersecurity and privacy. All of these concerns are enveloped into the solution of Data Vault. We have built a Sumerian crypto anchor system that has an acoustic flair. It has an acoustic system that allows us to connect data and have it perceived by human beings to where they can understand the data sets they're around, and when they enter a facility, the services available to them, the access that they have based on their identity and their position, can orchestrate a mobile response and a consumer engagement. We have these technologies encrypted into a platform that provides for cyber secure access, real-time scale, and their ability for us to make data more trustable through a durable metal, glass, and plastic anchoring, the creation of an immutable digital record tied to real-world things that monitor their behaviors, monitor their presence, monitor their value, monitor everything in the real world that is connected through a Data Vault to a blockchain, where it can never be changed, where it is immutable and forever. There’s a number of use cases around this technology. We focused in on this software development and the reduction to practice of an invention set. When you take the combination of acoustic technologies around WiSA and the ADIO platform and the Sumerian platform. These are accretive to one another. They’re bolt-on to one another. They and they plug and play with the Data Vault, where these assets are brought to bear, brought to market, brought to monetization. Next slide. You can see here we own the digital rights to Yogi Berra, and we put up here an example of how monetization of data assets when you own your likeness, as Yogi does. Yogi’s foundation owns Yogi Berra, his likeness. We are able to monetize that likeness in the form of hologram. This can be a coach for a kid about how to play incredible catcher in a baseball team. It can also be a brand ambassador. Yogi was a prolific in brand ambassador. This is an example of what Yogi could do for Aflac Insurance today. His foundation can license his likeness. He has one of the most famous phrases in insurance: "You don't need it until you need it." He said it in a Aflac commercial in the late 1980s. He has an incredible set of Yogi-isms. You know, the, "The fact that it ain't over until it's over. When you get to a fork in the road, take it." He has got an amazing set of verbal tracks, and, his likeness is second to none, recognized worldwide, and something that can be monetized now by his foundation through Data Vault. We create the ability to, productize, manage, and replicate his likeness. He could appear at a baseball game and an insurance, lobby, and on the same day, at the same time. There is a number of use cases where his CGI could literally be in an Aflac commercial. There can be the monetization of him in movies, in, in... He can do casting calls for commercials, all through the Data Vault platform, managed by his foundation, a toolset to monetize the data assets of one of the most famous baseball players to ever live and one of the most prolific spokespersons that ever lived. And so there is a replication of that Yogi model as we look to other foundations, other assets that are owned by other companies, and we have a number of pipeline strategies that we'll be announcing regarding name, image, and likeness. The ability to claim yourself, claim your likeness, productize it as a data asset, monetize it securely through a crypto, have a smart contract so you can pay the foundation and pay your WiSA bill and pay, you know, pay any other member of the ownership community around the asset. You can also have hard costs, such as holograms and, you know, video editing and CGI creation, all enveloped in a single product. And we make the complex consumable. We make the hard and the difficult data monetization strategies seamless and easy and plug-and-play with big brands and big, big talent. Next slide. We've also developed the ability to use acoustics enveloped in crypto, a coin, a utility coin, not a currency, a coin that represents your capabilities, your credentials, your degrees, your memorabilia, everything from the plaque that hangs on the wall that proves you got a bachelor's, master's, or a doctorate degree. We have a coin that does that, for employers, for the school. We protect the brand from stolen valor, stolen credentials that have been fudged, faked, or proven to not be efficacious. We have a problem within our education community around issuing, managing, and verifying credentials. We have the problems that are encountered in the marketplace, where individual companies are wanting to hire individuals with credentials and have a cumbersome process of verifying that and a system that we improved upon greatly with our VerifyU. We have a subset of that around NIL, which is name, image, likeness, really around student athletes. We're expanding the NIL to not just be athletes, but to be scientists and mathematicians and individual students that compete in robotics classes. We have a tool that can pay the school, pay the student, pay WiSA, and all through a seamless smart contract that's instantly verifiable and executable. We also have the ability to scale both of these products in tandem to the same customer, so we can grow inside an NIL Zone customer to VerifyU and vice versa. And all of it patented stem to stern solutions in big markets with big problems that we solve. Next slide. If you look at really monetizing the acoustic technologies, we've created an ADIO platform, which was built as an ad network. The word ADIO, a little homage to AudioEye, you know, a company that I was involved in founding, but now has evolved with respect to the technology we created here at Data Vault. We focused on ADIO, which is a data over sound. It's an ultrasonic anchor. It's a data tone transmission that allows for credentialing and for verification of assets. It can be used as a digital rights management, include around data assets that are music-related or soundtrack-related or video-related. We're also able to trigger interactions between inanimate objects. We can trigger a stock certificate to pull a webpage. We can authenticate individual assets in the real world to an immutable blockchain record using ADIO. On grave sites and on corporate resources, corporate assets, anything like tractor-trailer, tool pushers in an oil field, they can manage and have access to a layer of data that never existed before through ADIO. WiSA is the hardware solution. It is the solution for both the transmission and the delivery of high-definition multi-channel audio. It is also the ability for us to create spatial controls, controls over audio, where we're able to control where our tones are received and received by end users, and we're able to create a system around their software integration, WiSA E, where they can proliferate into other areas where ADIO has desired to go: within venues, within use cases that involve the use of speakers and the use of WiSA for transmission, connectivity, and many other utilities for ADIO. So these two technologies, highly patented, they are lightning in a bottle, each of them having attributes that are accreted to one another, and they're also strategically aligned to where instead of a cost center around some of these assets that WiSA created, we now have in-house product and productization around these higher margin and ability to engineer. We have an incredible engineering core at WiSA that feed into Data Vault and ADIO, incredible engineering-first capabilities. So we're really excited about this. It's an acoustic division. It's gonna be a real showcase. It's a differentiator, and it sets us apart from other players and in particular in the data space. Datadog and the Snowflakes of the world would give their eye teeth for these assets. Next slide. If you look at resorts and venues, we've proven a model that can move people. We have audio systems that can be zone-controlled. They sell you a ticket, give you a drink offer, move you to a nightclub. We've proven the ability to move people around event venues through promotion and through the use of audio technology. We have, with WiSA now, ubiquitousness. We can plug into these environments and also provide a hardware solution that allows for the multiplexing and duplexing and the spatial control that we've desired at ADIO in terms of having a greater command and control of our technology base, and this has a large event and venue application. Next slide. We drive revenue from all of those applications and more. We have AI and ML automation, so we machine learn on behalf of our clients. We can use the ADIO technology, like sonar, to reach out and collect data without intruding on anybody's phone. We are privacy-first, consumer opt-in technology, where we focused on creating tools for our customers to create completely customizable data assets that generate revenue from them. We've also created detailed analytics and data behind the scenes, where we can show you the Web3 dashboard, where all of your data assets can report in and provide actionable intelligence and the creation of data objects that ultimately can be monetized. Marketing automation, monitoring and advertising, privacy protection, protection of credentials, the ability to prove credentials, the ability for third-party integration into any system. We're ubiquitous. We're truly Web3. We bolt on to any Web2 system. So if you're on Oracle, IBM, any other infrastructure, Microsoft Azure, you might have a combination of those networks because you acquired a company or whatever. Our platform is ubiquitous. It plugs and plays in all environments and can combine them and make them work together. It's a Web3 systems integration strategy. We've perfected it in technology and software. Next slide. This is a supercomputing software technology. We can license it into a number of high-end brands. We have a number of use environments that we're establishing with some of the highest-end computing available in the United States. We have a focus around Data Vault, the DataValue, the DataScore, and other aspects of what we add to a supercomputing environment. Think of the index or the librarian to AI. We have a system that can index data, objectify it, and move it into blockchain immutable assets. We have tokenization and tokenomics strategies. We're working with Arizona State University, as we've previously announced, to develop our education strategy for both the VerifyU and NIL Zone. We have Platoon focused on that NIL Zone. We work with Historically Black Colleges and University at Lane College to turn up monetization of data and the use of ADIO on a college campus there in Tennessee. We have a number of high-scale large market verticals where we've established ourselves with leading brands, proven our technology, cut our teeth on, you know, pilot programs, and we're now ready to scale inside WiSA these opportunities using these use cases and growing from them. Our WiSA technology has incredible traction within the consumer television space. We have a number of WiSA opportunities that unlock ADIO inside scale and vice versa. ADIO has opportunities for WiSA in signage, in indoor, outdoor, and on-prem advertising, online streaming in other areas where we're very excited about WiSA's technology and what it brings to the table. Spatial audio control, sports entertainment, live events, concerts, conventions, and venues. We're proven, and we're about to scale into these markets. Next slide. We have a licensing model. We have an engagement fee where we make money. How we make money is we bring our engineering core into solutions for our customers. We solve problems for our customers in acoustic and data sciences, and we manufacture, in WiSA's case, a industry-leading audio component that eliminates wires, eliminates the lack of quality, and accelerates the ability for products to monetize. We have also our software as a services around Data Vault and ADIO, and our information data exchange, where we take backend interest in many data sets. We already represent a large data set out of Las Vegas. We have other data sets within solar and within other categories where we've identified large tranches of data, in particular around science and biotech, where we have a lot of data assets coming online through the Data Vault, which we'll be excited to share with you in the coming days. Next slide. Just in terms of the transaction today, we do have a $210 million asset purchase, where WiSA has purchased two flagship technologies out of Data Vault Holdings. Data Vault Holdings is a private company. It has other assets. These are two of our leading assets in terms of assets that we've invested time, money, and resources, in particular, around intellectual property development, and our team, led by Jeff Jones in Atlanta, Georgia. We've been able to reduce to practice these inventions through code that we developed for both ADIO and Data Vault, designed for supercompute environments and also around crypto anchors, AI, and blockchain. Those assets were sold to WiSA in exchange for the compensation here. There will be a proxy statement that will detail this for all shareholders involved. I would encourage people to read that proxy and obviously participate in that proxy vote. There's closing expectations around this transaction, so we do anticipate having this entirely done by the end of the year or sooner. We also you know have a stockholder meeting that will coincide with that closing that will be outlined in the proxy forthcoming. There's also a name change. The WiSA will remain a brand name and an association moniker or brand. The WiSA brand will continue, the association will continue, but the name of the company will be Data Vault. We'll be requesting a ticker change, along with that, to coincide with the brand name Data Vault, and we'll be moving forward after the close. I'll be proud to be the CEO, working side by side with the current CEO, Brett, who will become the CFO of the company. So the rest of that will be detailed in the proxy vote and move forward from there. So next slide. Just in summary, and final commentary here, we do have you know a opportunity here that happens to be the sixth time that I've taken intellectual property patents and technologies into the public space. You get better in life, and what I will tell you is that my timing here has improved with respect to my understanding of the cadence of things. As you live through this, and see it firsthand, you can understand the tectonic plates and the bigger pieces of this and the timing of our launch of artificial intelligence, blockchain, and acoustic technology into the marketplace after receiving our patents, after reducing it to practice, after testing it, and after going through a lot of trials with our clientele to improve the platform to bring it scalable. So I've attempted here to time right place, right time in terms of our commercialization. There's a large growth opportunity within several vertical markets. We've become redundant, you know, to the ebbs and flows of the marketplace. If real estate is down, we're up in, you know, entertainment. The idea that we're redundant across a number of verticals. We've insulated ourselves. We've got a number of patent holdings where we can't have competitors. We have sixty-seven combined patents, a large growing AI blockchain market, highly scalable licensing model across a number of identified verticals and traction in all of them. We have a global clientele, recognized names that now trust us to help objectify and monetize data assets. With that, I will turn it over to David. Brett, turn it over to David. Yeah. So we have just a couple minutes left for Q&A. So operator, if you want to open up the lines for Q&A. We will now begin the question- and- answer session. To ask a question, you may press star, then one on your telephone keypad. If you are using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then two. At this time, we will pause momentarily to assemble our roster. Mr. Vander Aarde, your line is open on our end. Okay, great. You can hear me okay? Yes, sir. You're-- There you go. Okay. Thank you. Good morning. Good afternoon, Brett and Nate. Congrats on the announcement. There's a lot to cover, and that was a very helpful overview. So I'll try to be concise here. Maybe some housekeeping questions just upon the closing of the transaction. So the date of the WiSA shareholder meeting, that's yet to be determined, but the proxies will be sent out by the end of September. And then the closing the transaction sounds like from there, it's supposed to happen before the end of December. Is that... First off, I guess, is that correct? And then, just in terms of the ticker symbol as well, following the close of the transaction, will you still be on the NASDAQ, trading on the NASDAQ, and what's that ticker symbol? Thanks. Hey, Jack. The long pole in the tent in closing is just wrapping up Data Vault's audit so we can create the pro formas. We are targeting for the proxy to go out with that information at the end of the quarter. The SEC can, of course, always delay us somewhat. That's why we put a longer timeline to close by year end. But we're pushing forward to close this as quickly as possible, right? I think Nate has reserved DATA previously to this transaction. When we have a final stock symbol and exchange, it'll be several weeks after the transaction closes. We'll make an announcement. Okay. That's helpful. Sure. And my next question was, you know, just any sort of, from now until the closing of the transaction, any sort of what should we expect in terms of materials, financial statements, pro formas? It sounds like you just answered one of those. Pro formas will be provided with the proxy statement. Yeah. Anything else I should be expecting from, I guess, in terms of information perspective, before the close of a transaction like this? So, Nate, can I take this? I think- Yes, of course. I think this is a really exciting opportunity, and unfortunately, Nate has another interview coming up in three minutes. So but what investors ought to expect is, from both organizations, a really strong sequence of announcements and partnerships that are driving to revenue over the next quarter, right? There's a healthy backlog of activity that Nate's company has developed. There's a lot of progress we're making in WiSA, and combined, that'll all start being shown through press releases in Q4, which will start driving your ability to forecast revenues for us. Got it. it. That's helpful. Okay, and then I'm not sure if Nate has to hop here, but Nate, welcome. Nice to meet you over the phone. Thank you. A lot going on here, so I don't want to. I'm sure we could talk offline again, but maybe just help me understand the existing, just kind of basic financial profile, if you could, of Data Vault, maybe from like a revenue and expense profile. Just anything you could provide, I guess, at a high level, that would be just helpful and maybe headcount-wise as well. So revenue, margins, headcount, just to set a baseline. Sure. You know, with respect to the headcount, you know, that we have at the closing, you know, the ability for us to really put resources towards ADIO and Data Vault. You know, the headcount at WiSA will remain, and we're obviously assessing every aspect of that in terms of how those individuals feed into the Data Vault and ADIO resources. We've run, as I mentioned, kind of a mile wide and inch deep into marketplaces with a small team of engineers and technologists that were able to solve problems for our clients. But we're developing that together in terms of the headcount of what we'll need for Data Vault and ADIO inside WiSA. The cost structures related to our business are really related to software, computing, and the overall engineering technologists involved in providing our solutions, largely out of Atlanta, Georgia, where we'll be building a platoon of at least 10 developers around the ADIO and the development team under Jeff Jones there in Atlanta. But aside from that, you know, in terms of the revenue model and what we have, you know, moving forward, is the combination of ADIO and WiSA in different markets than our traditional WiSA, you know, understood markets. Obviously, they have the embedded systems and the technology around WiSA E and their approach to the marketplace around licensing into television manufacturers and several other initiatives that will just continue to have more strength behind them. But we're looking also to look at the signage industry and some other areas where we have traction to where we can leverage the WiSA technology. And that would be theme parks, events, and the use of WiSA-enabled speakers to our clients sell around the acoustic division. So we have- Thank you. Revenues, all associated to licensing software as a service agreements. Hey, Jack, and just to amend- to expand on that, I think on day one, there'll be approximately 15 people that come on board, so it's not a large team. And I think fundamentally, you got to go to that licensing slide that was in the deck. So Nate's revenue is all margin, right? It's all software licensing. So fundamentally- Okay. As WiSA moves to licensing IP, Nate's entire business is licensing IP, so our margin structure will change dramatically as you go through next year. That's right. Got it. Got it. Okay, that's, that's, that's helpful. And, maybe just because, until the transaction closes, obviously, WiSA is still, it's still a standalone company, and you do have the WiSA E. There's a lot of iron in the fire with the WiSA E strategy, obviously, just starting to ramp up. Should I expect any? I guess, strategically speaking, in the acoustic sciences segment, WiSA E is now just, is now a piece of it. Does this impact any sort of strategy or kind of focus? Are you gonna be integrating WiSA E differently or approaching it differently? Is it too soon to tell? Just how do we kind of connect the dots back to the core kind of WiSA E strategy, and then, how it's gonna be impacted, I suppose, from what you can tell us after the close? All right. Let me, before Nate goes into that, in case he has to drop, right? We're fine. Yeah. Tomorrow, and every day going forward, the team right now is balls to the walls, implementing some sizable partnerships and designs. All right? There'll be other licenses that come out just around the WiSA E as you know it, Jack, right? Now, as Nate went through, there are opportunities in the signage market, particularly to, and the events market to use WiSA, but I think today, we know technically what we need we can do, but that'll unfold over the next couple of years. Got it. Okay. Understood. And then maybe just from... I suppose this has been a long time coming, this transaction or this agreement, this arrangement. I guess, what makes you most excited, or what's the biggest opportunities? I guess you have a lot of growth catalysts here in this combined company, or you will. What are some of the key focus areas of yours, the, you know, the top priorities, I guess, sort of for growth catalysts? That would just be helpful just to kind of organize sort of an idea- Sure. Because you have quite a few different targets here. Thanks. Sure. So, one target in that it is a platform like Salesforce is to sales, we are to data. So we do cut across a lot of use case markets and, you know, the ubiquitousness of WiSA is kind of rivaled by the Data Vault as well, you know, in terms of applicability. So we do have our eye on the education market. Certainly, you know, the political market is one that's opportunity here for the beginning of the fourth quarter. So we have a number of developed strategies where we have unique patent advantage and first-mover advantage. We've also, with the combined technology, I think what I'm most excited about is the engineering team at WiSA. We've developed a lot of pipeline that requires a lot of solution making and using our systems in a systems integration approach like Oracle does, where they listen to their clients and apply their technologies. That's very much the modality we're in, Web3, ubiquitous, bolts onto anything, Web2. We're just picking the biggest opportunities for WiSA at the moment, the lowest hanging fruit, the quickest path to the most scalable revenues is the guiding light. Got it. Very, very helpful. I think that's it for me for now. There's a lot to absorb here, but I'm very encouraged by the announcement. Thanks, guys. I appreciate it. Thank you. All right. Thanks, Jack. Again, if you have a question, please press star, then one. The next question is from Joseph Dente with Wellington Shields. Please go ahead. Yes. Hi, good morning. Can you hear me? Yeah. Yes. Okay. I just want to know what's the value of the portfolio, patent portfolio that Data Vault has, and how does it come to that valuation? Thank you for the question. Yeah, so we've been working with Houlihan Lokey, a third-party valuation firm that's been providing, you know, initial valuation. Last year was kind of actually now going on a year and a half, we had a valuation of our assets that came in, you know, for these specific assets, over $250 million in valuation around the Data Vault and ADIO portfolio. That process will be redone as a closing condition. We're actually refreshing that valuation. We've got 27 new assets since that valuation was performed. You know, the addition of the sizable WiSA portfolio obviously comes into play. There's also some of the parts, you know, analysis, when you start to say: "Okay, we own blockchain, we own these acoustic capabilities that no one else has," but the product they create, you know, being quadruple patented, you know, across WiSA, Data Vault, ADIO, is kind of the secret sauce. So the valuation will be refreshed. That'll be included with the closing documentation around this transaction. And the third-party approach that we've used is to use one of the leaders there, Houlihan Lokey, to guide us with respect to the value of the combined portfolio with the additional assets we've gained through prosecution over the last year and a half. Wow. Okay. That's pretty, pretty interesting, and I'd be happy to see when they do that refresh and see what what they come up with again. Thank you. Thank you. Thank you very much. That's the only question I have right now. Thank you. Okay, operator, I think at this point we need to terminate the call. I'd like to thank everybody for joining. Nate, you want to make a final comment? Thank you all for joining. We're very excited about this opportunity. Looking forward to the next steps, and I appreciate everyone's participation today. All right. Thank you, everyone. The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.