Q3 2021 BOS Better Online Solutions Ltd Earnings Call

Ladies and gentlemen, thank you for standing by. Welcome to the boss, third quarter, 20 21, results conference. Call all participants are present in listen-only mode, following Management's, formal, presentation, instructions will be given for the question and answer session for operator assistance during the conference, please press star zero as a reminder. This conference is this conference call is being recorded and will be available on the boss website as of tomorrow with us on the line today on this day. I'll Cohen and CEO and mr. Moshe seltzer.

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If I turn the call over to mr. Cohen, I would like to remind everyone at forward-looking statements for the respected. Companies Business Financial condition and results of its operation are subject to risk and uncertainties which could cause actual results to differ materially from those contemplated. Such forward-looking statements include but are not limited to product, demand pricing Market acceptance, changing economic conditions risk in product and Technology development, and the effect of the company's accounting policies as well as certain

Other risk factors which are detailed from time to time in the company's filing with the various Securities authorities.

I would now like to turn the call over to mr. Ayako and CEO. Mr. Cohen, please go ahead. Thank you.

I want to dedicate this call to the most critical challenges. We are facing the operating loss of the robotic division.

First, I want to share with you some background on the nature of the business of the robotics division, the division, the division, develops, and sells custom-made robotic systems. It doesn't sell off the shelf for building a customized robotic system. Involve many faces. It has a long and expensive cell cycle.

The low closing rate because it requires significant investment from the customer. The systems pricing is very complex because it is based on the initial concept of the machine rather than on the final detail design.

The time of delivery takes another half a year.

Customized with robots, require the development of a unique feature and therefore the development risk. We did see an 80 percent reduction in the operating loss of the robotics division in the first nine months of the year. 21 as compared to the comparable period last year. However, we have not yet been able to successfully reflect.

Inherent risks of this business in our price.

Going forward in order to mitigate the risk and optimize our cells resources. We will focus ourselves default mainly on the Israeli Market rather than wolves.

At the end of the first, at the end of the third quarter, we closed ourselves office in the US and turned walking through a distributor.

We realized that in order to succeed in the US market. We have to increase our yourself marketing and support persons significantly, but we cannot afford this cost this stage.

Cindy's brother Marcus. We really focus on strategic customers that we defined as heavy automation, consumers from various Industries.

We will learn this, customers needs products, standard production and logistic processes. We expect our learning curve curve to improve gradually and the inherent risk of the business to decrease accordingly.

Focusing on Israel is expected.

To also shorten the self psyche, reduce our Associated service cost and increase the transaction closing rates securing about 10 years of Digit, Israeli, customers will dramatically change the operational result of the robotic business.

We believe that it will lead this division to a break-even point during the year 22.

And that in the years after it should be the growth engine of Boss.

That's complete my review. And now I will take your questions.

Thank you. Ladies and gentlemen. At this time. We will begin the question-and-answer session. If you have a question, please press star 1, if you wish to decline from the polling process, please press star 2. If you are using speaker equipment, kind of lift the handset before pressing the numbers, your questions will be pulled in the order. They are received. Please stand by while we pull for your questions.

I repeat. If you have a question, please press star one.

There are no questions at this time before I ask. Mr. Cohen to go ahead with his closing statement. I would like to remind participants that. A replay of this call will be available on the company website www.bustmold.com by tomorrow. Mr. Cohen, would you like to make your concluding statement? Thank you for joining or call today and I am looking forward to meeting you all our electrical. You're welcome to contact me anytime bifold, WhatsApp or email?

Thank you for your support.

This, concludes boss, third, quarter, 20, 21, results conference call and thank you for your participation. You may go ahead and disconnect.

Act.