Welcome to the Vislink Technologies 2021 second quarter earnings update meeting. During today's presentation, there will be an opportunity to submit online questions. You may submit online questions using the window on the webcast. Please note this event is being recorded. I would now like to turn the conference over to Belinda Marino, Corporate Secretary of the Board of Directors. Please go ahead. Thank you, and good morning, everyone. I'd like to remind everyone of the Safe Harbor Statement referenced in the SEC filings. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements, including statements made during the course of today's call. Statements contained herein that are not based upon current or historical facts are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Such forward-looking statements reflect the company's expectations about its future operating results, performance, and opportunities that involve substantial risks and uncertainties. When used herein, the words anticipate, believe, estimate, upcoming, plan, target, intend, and expect, and similar expressions as they relate to Vislink Technologies, its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the company and are subject to a number of risks, uncertainties, and other factors that could cause the company's actual results, performance, prospects, and opportunities to differ materially from those expressed in or implied by these forward-looking statements. For a more detailed discussion of some of the ongoing risks and some uncertainties of the company's business, please refer to the company's various filings with the Securities and Exchange Commission. Now I'd like to turn it over to Mickey Miller, our CEO. Thanks, Belinda. I'd like to welcome you all to the Vislink Q2 2021 earnings webcast. I'll be joined on this webcast by Mike Bond, CFO of Vislink. We'd like to take this opportunity to report on our full-year results, and the progress we've made in the second quarter of 2021. We'll also provide an update on our latest developments and future prospects. Participants will be able to submit questions during the webcast from the main webcast page, and we'll try to take as many as possible at the end. We are very pleased to report revenues in the second quarter that were 85% higher than the amount recorded in the first quarter of 2021. In addition, our quoting activity continued to increase, with new bookings growing over 250% during the first half of 2021 compared to the corresponding period in 2020. This accelerating sales growth, together with our ongoing focus on cost containment and strategic use of financial resources, helped us significantly narrow our EBITDA loss in the second quarter to $578,000, compared to $2.4 million EBITDA loss in the first quarter. As a result, our operations have not only returned to pre-pandemic levels, but we are well positioned for future growth. Just some side comments. I thought this was a great quarter for us, and let me just put it in perspective. 18 months ago, when Mike and I started here, this company was under-capitalized. It was in debt with our vendors. We had a very high operating cost. Our new product development was anemic, and the business was declining year in and year out. Then we were hit by the pandemic. The team at Vislink did an extraordinary job. We had furloughs that effectively put in a 40% pay cut for all senior management and many levels of management. Everybody in this company paid a price in their salaries to be able to keep this company moving forward, that we were able to get to where we were at the end of 2020 with the opportunity to raise additional capital. I want to give credit to the entire Vislink team for the extraordinary job and sacrifice that they've made for this company to get us here. I'm super excited about the future that we've been able to build, and the future is now for us. Our commitment to relentless innovation, which has been a Vislink strength throughout its history, resulted in a release of incredible products in 2021, including the IP Link 3.0, the Quantum Receiver, and the DVE6100, that have already played a role in capturing substantial new business this year, including the announced wins with Alabama Public Television and the U.S. Department of Defense. In fact, these three products alone have already surpassed $6 million in initial sales this year. We plan to continue to aggressively refresh our product offerings to maintain our leadership in the markets we operate. We have increased our R&D investment, and we have recently hired a new head of R&D, John Gass, who we're very excited to have part of the team. You also know about our very exciting news about closing on our purchase of Mobile Viewpoint. The acquisition allows us to exploit a number of significant trends with respect to the market for live video, which can be addressed by Mobile Viewpoint's innovations in bonded cellular, 5G, and AI-driven automated production technologies. These include the following: 82% of all IP traffic today is video, and live video is less than 20%. Estimates expect around 13%, but it's the fastest-growing sector, with 72% CAGR in the last five years. That's 72% growth per year in the last five years, according to Cisco. Content consumption is diversifying and becoming more personalized. Solutions that offer a hybrid of transport over a various amount of mediums, whether it's 5G, bonded cellular, COFDM, fiber, satellite, or public IP, will be the key for growth, and that's what we're building. Remote production, also known as REMI, enables high-value production at more cost-effective price points with a reduced carbon footprint. Finally, AI-driven production will dramatically reduce live production costs, enabling a wider range of new content be rendered economically. As far as the strategic rationale for making this acquisition, Mobile Viewpoint provides us with innovative technologies and solutions that, combined with our own capabilities, will enable our customers to acquire and deliver video over any preferred public or private network. This presents a tremendous growth opportunity for us as 5G and other networks, along with machine learning, will revolutionize how video is produced and transported. Notably, Mobile Viewpoint also brings us very exciting AI-driven automated production and camera solutions, as well as pioneering development team that has a history of being first to market with solutions that make a real difference, including support for multi-camera REMI, H.265, which is HEVC, 5G, and Starlink integration. This acquisition means that we can now make the most of these transformative live video trends and bring high-quality live video production to events that was historically uneconomical to produce, like amateur and semi-pro athletics. The acquisition also provides us with increased scale and R&D power and creates a new powerhouse that leverages both Vislink's 50+ years of broadcast technology leadership and Mobile Viewpoint's innovations in bonded cellular and AI-driven automated production. It should be noted that the two companies are also very complementary in terms of geographic coverage, market sector footprints, and product lines, with virtually no overlap. With combined offices across Americas, Europe, Middle East, and Asia, and a reseller network of over 150 distributors, Vislink has the scale to provide on-the-ground support to a wider customer base than before. Finally, a result of the Mobile Viewpoint acquisition, Vislink will now have all the hardware and software solutions to acquire, produce, contribute, and deliver IP video and data over whatever private or public network is preferred and available, making our connected edge strategy a reality. The bottom line is that for Vislink, this acquisition represents an ideal deployment of capital, highly strategic, and makes a lot of sense. This is the kind of targeted investment that we've been seeking for quite a while, and we are confident that it will play a major role in the future growth of the company. I'll now turn it over to Mike Bond, who will walk us through our financials. Thanks, Mickey, and good morning, everyone. Here are some of the main financial results for the first quarter. Revenues for three months ended June 30th, 2021, were $7.6 million. By the way, that does not include $4.3 million of deferred revenue. That compares to $4.1 million for the first quarter of 2021, and $6 million for the three months ended June 30th, 2020. EBITDA, which is earnings before interest, taxes, depreciation, and amortization, was -$578,000 for the three months ended June 30th, 2021. That compares to -$2.4 million for the three months ended March 31st, 2021. We ended the second quarter of 2021 with $55.5 million in cash and cash equivalents, compared to $60 million at the end of the first quarter of 2021. Gross margins were 52.8% of revenue in the second quarter of 2021. That compares to 46% in the first quarter of 2021. Net loss attributable to common shareholders was $834,000, or $0.02 per share in the second quarter of 2021, compared to a net loss of $2.7 million or $0.07 per share in the first quarter of 2021, and a net loss of $778,000 or $0.05 per share in the second quarter of 2020. Net loss attributable to common shareholders was $3.5 million or $0.09 per share for the six months ended June 30th, 2021, and that compares to a net loss of $5.2 million or $0.45 per share for the six months ended June 30th, 2020. I'll now turn it back over to Mickey to provide an operational update and an outlook on the business. Thank you. Thanks, Mike. The numbers that Mike just shared with you don't include the $4.3 million of deferred revenue, that if you looked at the K or 10-K, which basically means we built, we shipped, and we delivered $4.3 million of goods to a customer that didn't make it through customs through the end of the quarter. We were not able to recognize that as revenue. That revenue has now been recognized, and payment has been received. It was a heck of a quarter. Again, I want to extend thanks to the entire Vislink team. You, as owners of our company, should recognize that the Vislink team did a heck of a quarter here, and we're only getting started. From an outlook perspective on the broadcast live production side, we're really starting to see a resurgence in this market as live events have made a robust comeback. Obviously, with the Delta variant, there is some uncertainty there, but we are starting to see a robust comeback. As you can see with the first half of this year, we had 250% more orders than we had last year in terms of dollar volume. We expect that the integration of the Mobile Viewpoint technology and products will help us make a strong inroads in the live production market as we now have a completely new suite of solutions to offer. We are the first company now in this space that has the complete suite. Many companies have bonded cellular, some companies have proprietary networks on top of them. We now have the complete suite of products to be able to offer our customers a very compelling solution that is managed by one single software application. On the MilGov side, the MilGov market is showing strength as evidenced by another nice Department of Defense order received in the quarter. There could be some new exciting opportunities for cross-selling Mobile Viewpoint products to law enforcement and military organizations. There's several use cases that Mobile Viewpoint have, whether backhaul for drones that they've been able to deploy in many first responder locations, as well as cameras on site during civil unrest or for forensics. Those are exciting opportunities that we see. What we see as a great opportunity to take the technology, both our traditional as well as the Mobile Viewpoint, integrate into complete solution to provide first responders with incredible technologies to do their jobs more safely and to proactively protect and serve us. Finally, Satcom, we have reconstituted our satellite product line, and one of our new product offerings in the air, the DV6, has been a nice introduction. We basically have two primary products there: our MSAT product, which is our mobile satellite product, where you can deploy anywhere and get connectivity, as well as our new DVE6100. Looking forward, we are optimistic that demand for our key markets will continue to increase for the balance of 2021. While there are some potential challenges on the horizon due to forces outside of our control, such as the ongoing battle to manage COVID around the world, at this point in time, we are forecasting increased demand for the sectors we operate in. As a result, we see considerable opportunities to grow our business, and having Mobile Viewpoint as part of the Vislink family will certainly help make that a reality. We look forward to updating you on our progress. Now we'd like to answer some questions that have been submitted during the webcast. Thank you. We will now begin the question and answer session. You may submit online questions at any time today using the window on the webcast. At this time, we will pause momentarily to assemble our roster of questions. Okay. First of all, I want to thank everybody for the questions that we have. As you've probably seen through our social efforts, we're trying to connect with our owners. You are our owners. You own this company. We want to connect with you and understand what's on your mind and address any questions that you have and be transparent as we can be. Obviously, we have NDAs with many customers. We would love to put out press releases every day and video of our product being used in the world. We're only allowed to do that when our customers approve and allow us to do that. Certainly, we're not able to disclose anything that's under NDA with customers. We will be able to talk about any customers that has allowed us to talk about things. I think the first question is about. Sorry, go ahead. Yeah. I do want to say, in order to drive questions, we did say anyone who asks a question that we have on the call, we'll send some swag to. If you do ask the question, please DM us with your information, and we'll send you some swag. We appreciate your support for Vislink and for your questions, because we have more questions than ever now, and really appreciate it. Go ahead, Mike. Oh, yeah. Thank you. First question I noticed right off the bat, obviously, everyone's very excited and I think curious about Mobile Viewpoint. The first question, obviously, is how big is Mobile Viewpoint? How many people? What's their revenue? Essentially, revenue is about $7 million. We expect, obviously, some synergies there. First order of business in terms of integration is to integrate their solutions, their product line in with our own to create a combined go-to-market model, if you will, to get out and aggressively pursue our customers. As Mickey said, we now feel like we have another weapon in the armory that we can use with our customers and even potentially new customers. Again, the revenue there is about $7 million at this point. They've got about 20 people. They do a great job leveraging that number of people with a very aggressive R&D schedule. We think we'll be doing an increase in additional investment in their product development with their R&D team, but we're looking forward to growing that business substantially. Great. Here's one. Do I have to worry about another reverse split? I think hell no is the answer, and you can take all the worries you have in your life and put that one at the very bottom of the list. In my opinion. As Mickey said. Look, in the past, the company did a lot of reverse splits, because they basically were funding losses in operations, as Mickey has mentioned previously. We think we've got the platform at this point to break even, and we're looking forward to continuing to progress that. We don't see any need to do anything like a reverse split. We think our share price, our capitalization, everything will stay above the minimums. We'll stay listed, and we'll continue to progress in our share price as we build a better platform. Okay. There's a lot of great ones here. What came first, the chicken or the egg? I just want a hat. All right, Michael Osmundson, you get a hat. You get a hat. Okay. Let's see. Mike, I mean, there's some great ones here. Mickey, I see one that says, there's a good one that says, "With the new acquisition of Mobile Viewpoint, how do you see integrating this into your current business?" I think I'd mentioned that. We're going to take it easy at first. We don't want to overwhelm a group the size of Mobile Viewpoint. Michel Bais is their leader, and we think highly of him. A strong part of our reasoning and rationale for doing this acquisition was the talent and the leadership there and their vision. We're going to try to marry that to our vision and our go-to-market model, and progress in a combined fashion with our customers. On the operational side, we will obviously integrate them in financially, but we'll leave them alone operationally at this point. They're in Alkmaar, the Netherlands. We anticipate making many stops in Netherlands. We want to leave them alone operationally for a while and just integrate their solutions, and their go-to-market model. Yep. I think this is a pretty common question. I think three or four times is, does Mobile Viewpoint already have Starlink capabilities? Will it start to be promoted by Starlink? I think what our goal is, and what we've talked about, if you've seen our investor deck, it's about taking advantage of the connected edge opportunity that we see. Cisco expects over 500 billion IoT devices connected by 2030. Our view is that in the next 10 years, every industry will be disrupted by the connected edge. What that means is that everything will be connected on the edge. Machines, people, devices, you name it. That impacts the industries we're in, but also future industries that we may be in. We see that video, p ut things in perspective. Historically, video was handled over proprietary network. Audio was over proprietary network. Data over a network. Now with IP, Internet Protocol, connectivity everywhere. With IP, it's just one packet. That packet can have video, audio, metadata, you name it, and can be distributed over any medium, whether it's 5G, whether it's Wi-Fi 6, whether it's mesh, whether it's a proprietary COFDM, whether it's Starlink, whether it's GEO-SAT, whatever link. That's what we want to make sure that we can offer our customers, an opportunity to use whatever link is most economical and fits their needs, meets their needs based on the use case that they have to be able to connect their entire network. Because what's important, historically, companies have always had an IT department. The future is that IT or connectivity or data and massive processing power are all going to be one. The operations are being disrupted to be able to leverage to use these tools. To be able to do that, you got to have connectivity, and you got to be able to work across all types of connected devices. That's our goal. In addition, with the AI, with Mobile Viewpoint, we get an AI capability that helps us move forward our AI expectations and goals. Ultimately with big data for real-time analytics, that will disrupt traditional workflows. That's our future. That's where we're headed. That's what the relationship is today, is yet another medium for us. We see a lot of opportunity across the board to do a lot of things with a lot of different customers because we have this ability to bring things from the edge and create information to fulfill our mission today. Our mission today is to create technology that serves and protects us and connect us to the content we love. That's our mission today. As we build and we do well there'll be opportunities to take the technology we have and the capabilities we have to other markets to do the same thing. A question from Peter Tolotas. He said, "Congrats on the acquisition." He said, "My question is about supply chain. Do you anticipate any supply chain disruptions?" You said you hadn't in the first quarter, and we still feel the same. We don't think we'll have any major supply chain disruptions. We do see the supply chains tightening up. We are taking, obviously, some defensive measures. We're ordering out ahead of, in some cases, our orders on key parts and supplies. We don't anticipate that becoming a factor in terms of our ability to meet our customers' orders. Thanks, Mike. Here's another one. When do you expect Vislink to become profitable? We don't give guidance. There's a lot of things going on in the world still today. As I mentioned, the Delta variant, we'll see what happens there. If you just take a look at this past quarter, if that deferred revenue would've cleared custom one day before, do the math. That was $4.3 million. You know what our average margins are. That would've dropped over $2 million to the bottom line. I think that answers your question. Yeah. Just to add to that, look, we had a very difficult platform to work with, as Mickey mentioned, when we first started. We think we've done a lot of yeoman's work in terms of making the platform able to create profit as we increase sales to drive leverage. We went through a very difficult time with the pandemic. It essentially put a big part of our business on hold that is live production. We're now seeing a major increase in our order activity and quoting activity. We think the live production business is coming back strong. We have every confidence, again, as Mickey said, that the business is going to come back and go back to pre-pandemic levels. We feel like the work we've done on the platform, the money we've raised, some of the strategic opportunities we're going to address, including Mobile Viewpoint, gives us a real leg up in terms of being able to create a profitable platform in the future. Here's a question from John Hammer. I know Mickey has stated that most acquisitions failed previously, why staying at Vislink would be very judicious in making any acquisition. What made Mobile Viewpoint the right acquisition for Vislink, and how will you integrate them with Vislink and fully synergize the two into one successful company? Great question. We looked at a lot. There's not a lot of players in this. If you look at the number one player is LiveU, which was just acquired by Carlyle for $400 million. They were acquired by Francisco Partners two years ago for $200 million. In two years, they increased the value by $200 million. Those of you, Carlyle is probably the best investor or one of the best investors in the world. Blackstone, Carlyle, big time private equity companies. LiveU and there's a few others in the space, and we've got to know most there, and we really like, to your point, the challenge with integration, you can have a great strategy, you can have great synergy and all these things, but it comes down to people. We really like the people of Mobile Viewpoint. Michel Bais has done an incredible job growing this company, bootstrapping this company without any outside investment. It's profitable. They've been growing. They have a great reputation with their customers. We talk to customers that are super excited that we're now together because they think that both Mobile Viewpoint and Vislink have the same regard to innovation and R&D. We're really excited that we think that our cultures work very well. They're super efficient. They get things done. You can see if you go to their YouTube or to any social, you can see the things they do. They're a very capable group of people that we're really looking forward to 1 + 1 = 3 type of thing. I think that's what put it over the top for us here. Here's a question that says, do you anticipate additional acquisitions? Are you continually looking for new opportunities? The answer there is absolutely. We did a capital raise, as you know, back in February. We just spent a bit of that in cash to acquire Mobile Viewpoint. We still have what I'll consider is good dry powder to do more strategic work. We also reserve the opportunity to go to the market again if we're successful and raise more capital to do more strategic acquisitions. We will not stop. We'll continue to look at opportunities to grow the business inorganically and kind of jumpstart the platform, if you will. Here's a question from Jessica Dalton. Is this stock going to improve? I can't speak for the stock. Warren Buffett says the market in the short term is a voting machine and the long term is a weighing machine. Our focus is on building the value to make the weight of this thing drive the stock. Obviously, Mike and I and our team, we're very motivated by stock as a large part of our compensation. We're focused on that, but we don't get caught up in it. What we're focused on on a day-to-day is building value in this company. What is that? That's connection with our customers, connection with bringing innovation to those customers, and driving the opportunities. Secondly, as you know, we're very judicious in how we deploy our capital. We view this capital as your capital. We are using your capital as owners. You are owners of this company, and I can tell you, we're very judicious in how we deploy this capital to get the returns that you deserve as shareholders. We'll continue to do that every single day to build long-term value for you, the owner of this company. Yeah. Mickey, that plays into a question by John Rutherford here that he asked, when do you see the revenue from the acquisition hitting the bottom line? When do you see the impact, basically? The answer there is almost immediately. Michel has run a great organization that's very profitable. We do expect to see, obviously, additive revenue and additive bottom-line impact almost immediately. We're very excited about that. We didn't purchase a burn rate. We actually purchased a business that's up and going, profitable, and produces cash and runs very well. We're very excited by that as well. Here's from Billy Phillips. When do you anticipate being operationally cash flow positive, paying shareholders dividends, and what are the key drivers to financial health and growth? We kind of answered this in one of the earlier questions. If you look at the numbers for this past quarter, I think that will answer that question. Our focus, when we started off in this a little over 18 months ago, was to get to cash flow positive. Now, paying a dividend, we think there's tremendous opportunity here. We don't think this will be a dividend stock. If we look at everything and we say, "Hey, the best thing to do is buy back stock or give a dividend. If that's the best use of capital for our shareholders, we'll do that. Right now, we see the tremendous opportunity because of the connected edge opportunity to invest, that you'll get outside returns through the investments we make. Here's a question from Mark Thoma. He said, "Gross margins increased by 10% in the second quarter to 52.8%." He said, "Is that your target margin?" The answer is yes. Essentially, it's around 50%-55%. Obviously, with product mix, some of our products enjoy much higher margins than that and some slightly lower, but that is in general where we think margins should stay going forward. Okay, here's another question. "Can you discuss some businesses you've taken as a new CEO with exit plan? What was the valuation to the valuation on exit? What companies?" Yeah, my career, I think you can see it on the website, but we built the Lucent Technologies Power Systems business. We sold it to Tyco Electronics. I ran that for four years. That was a business that when we sold it was $1.6 billion in sales, and we sold it for $2.5 billion, and then was group president of Andrew Corporation, which we grew from $800 million to $2.2 billion and sold that for $2.6 billion. Ralph Faison was the CEO of Andrew, and he's actually on our board. I built a company called BLiNQ Networks, which is a pre-5G fixed wireless company that we sold to CCI. Mike and I started here. Coincidentally, Mike was the one at Lucent who sold the business that I ultimately ran for Tyco. That's the connection. Small world. There's another question. Go ahead, Mike. Oh, sorry. Here's one from Ethan Bing. Hi, Ethan. He says, "Hi, Mike. What impact do you think the Mobile Viewpoint will have on margins?" We think it'll be positive. Mobile Viewpoint has very good margins. In some cases, in excess of 60% and almost up to 70% in some cases. We do think it'll have a positive uplift on our margin potential. We're looking forward to integrating those products in to reap that benefit. Yeah. Here's another one. "Please discuss how much success you or someone on your team has with acquisitions. What dollar amount?" Personally, we did a lot of acquisitions in growing Andrew Corporation, so I've done a lot around the integrations. I think our acquisition guy, none better than Mike Bond here. He's done over $30 billion of acquisitions in his career. He led this acquisition. He spent four weeks in Amsterdam bringing this to a close. He's got tons of experience. He was at JP Morgan for a while, so we're really excited that we have Mike on our side to lead our acquisition. Thanks, Mickey. Here's one from Ethan Bing. I think Ethan, this might be your second question. You're doubling down here. You said, "The purchase agreement did not explicitly prevent Triple from hiring Mobile Viewpoint talent." He said, "How do you plan to retain the talent and bridge the two cultures?" Great question. One, we don't think there's any problem or vulnerability to having our people leave to go to Triple. They're two different businesses. Therefore, we don't think there's really a problem there. In terms of integrating our cultures and incenting people, we do have what Mickey and I consider is a fairly aggressive incentive plan inside the company, both bonus and competitive salaries. Obviously, we reviewed with Michel, the team, we looked at the key players and all the players, we look forward to making sure that all of them are excited to be a part of the Vislink family going forward. We will do the hard work in terms of looking at our people costs and making sure that everybody is competitively compensated and is feeling comfortable in their role at the company. We're very excited to bring the 20 people of Mobile Viewpoint into the family, if you will. Yep. Here's one from Anthony Telomani. "I understand the nature of NDAs, but I've seen Vislink mentioned as a partner with Tesla and Starlink. Can you confirm or deny or give any information as to whether this is true?" Like I said earlier on, we would love to talk about every single one of our customers. If we confirm or deny something, then you're going to know by deduction whether we're doing something or not. That means it doesn't make sense to have any NDAs at all. I can assure you, if we're allowed to talk about any customer, or have video from that customer, we will. As an example, the Olympics, of course. You can't put anything about there about the Olympics. The Olympics, they obviously make a lot of money through the rights that they have. The only way we can do that is if someone sees a Vislink spotted. I know a lot of you don't like our Vislink spotted stuff, but if it's in the public domain and someone sends us a picture, we can use it. If one of our partners shows them using it, we can use it. We can't use images that are owned by other properties or talk about customers that we haven't had permission to talk about. We'll continue to do that. I know it's frustrating for a lot of people, but as I said, we're very focused on building this business, on growing the connected edge, bringing that to the markets we serve today and building that from there. As I've said many times, Mike and I did not come here to run a small company. We see a massive opportunity here. We see the opportunity to build Vislink into a very successful business. That's what we focus on every day. We'll have time for one more question. Mike, do you want to take that? Yeah. Mickey, here's a good question. It's from John Rutherford. It says, "To be clear, we have a $4 million revenue we didn't get reported?" That's referring to the deferred revenue that Mickey spoke of in the body of our text. Here we had an order, and we've disclosed this in our 10-Q. We had an order for the United States Army that we were originally going to ship to Afghanistan. That shipment was diverted to a different location, and given the complications of diverting and accepting that shipment, it missed by about two days in terms of being accepted and included in the revenue for the second quarter. Accounting rules say that we shipped it, so therefore it's revenue, but it's deferred revenue. We defer it and recognize it when it's accepted by the customer. That's the terms of the contract. Given that we do defer it's in deferred revenue at the end of the second quarter and will be picked up as revenue in the third quarter. Okay. Mickey, I see one more quick question. Someone asked a good question about the PPP loan. Has it been forgiven? The answer there is we have made application, we have done the calculations, and we believe that, yes, it will be forgiven in its entirety, and we won't owe anything to the government in terms of paying that loan back. Okay. All right. Well, let me just close. I think we have a great opportunity here. I think we've made progress quarter-on-quarter in terms of getting the operating platform that we need to be successful, the new product development capability that we need to be successful. Now with Mobile Viewpoint acquisition, I think we have a tremendous opportunity to continue with our mission, which is to create technology that serves and protects us and connects us with the content we love. We'll continue with that. We do see a bigger play in other industries as well around the connected edge. I think it's going to transform and disrupt every industry today. I think there's a tremendous opportunity for us to take advantage of it given our skill sets and our capabilities. Video combined with audio, combined with metadata, does tremendous things in many industries, whether it's insurance, whether it's in security. The capabilities that we have around that, I think, can be deployed in a lot of different areas. Our focus is this initial market that we are involved in of media and entertainment and first responders and MilGov. As you can see with our customer base, the U.S. Department of Defense, Alabama PBS, we have some longstanding relationships with some very large customers, and we think there's opportunities to build on those as well as opportunities to grow and share. With the Mobile Viewpoint acquisition, we think that gives us more opportunities and more products to be able to position Vislink as a supplier of choice as our customers make decisions on what their new technology going forward is. Thank you everyone for your support for Vislink. You are the owners of this stock. We want to communicate with you. We'll continue to try to find what the right tempo of communication. We want your ideas. With Mobile Viewpoint, this is a product that can be sold in a lot of different places. I think we're going to see someday with their IQ product, that content that heretofore wasn't accessible, like Division 2, Division 3 type athletics, that will be possible because it's cost-effective, that will be remote-produced, AI-driven. If you see opportunities that are interesting, send them to us because we like our sales force to follow up on that. We see a great opportunity for our shareholders to help us identify new opportunities in those lower-tier markets as we continue to grow. Thanks again. We appreciate your support. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.