Q3 2022 Supercom Ltd Earnings Call

October 26, 2022

Operator: Ladies and gentlemen, good morning, and welcome to the SuperCom Q3 2022 Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Participants of this call are advised that the audio of this conference call is being broadcast live over the Internet and is also being recorded for playback purposes. I'd now like to turn the call over to Stephanie Prince of PCG Advisory.

Ladies and gentlemen, good morning, and welcome to the Super Com third quarter 2022 financial results and corporate update conference call.

At this time all participants are in a listen only mode.

Should you need assistance. Please signal a conference specialist by pressing the star key followed by zero.

After todays presentation, there will be an opportunity to ask questions.

To ask a question you May press Star then one on your telephone keypad.

To withdraw your question. Please press Star then two.

Participants of this call are advised that the audio of this conference call is being broadcast live over the Internet and is also being recorded for playback purposes.

I'd now like to turn the call over to Stephanie Prince of P. C. G advisory.

Stephanie Prince: Thank you, operator, and thank you to everyone joining us. With me on the call today is Ordan Trabelsi, SuperCom's President and Chief Executive Officer. I'd like to remind you that during this call, SuperCom's management may be making forward-looking statements, including statements that address SuperCom's expectations for future performance or operational results. Forward-looking statements involve risks, uncertainties, and other factors that could cause SuperCom's actual results to differ materially from those statements. For more information about these risks, uncertainties, and factors, please refer to the risk factors described in SuperCom's most recent periodic reports on Form 20-F, Form 6-K, and SuperCom's press release that accompanies this call, particularly the cautionary statements in it. Today's conference call includes EBITDA, a non-GAAP financial measure that is useful in evaluating SuperCom's performance. You should not consider this additional information in isolation or as a substitute for results prepared in accordance with GAAP.

Thank you operator, and thank you to everyone joining us with me on the call today is Don Trabelsi, Supercomm, President and Chief Executive Officer, I'd like to remove that during this call Supercomm management may be making forward looking statements, including statements that address supercomm expectation.

For future performance or operational results forward looking statements involve risks uncertainties and other factors.

<unk> actual results to differ materially from those statements for more information about these risks uncertainties and factors. Please refer to the risk factors described in Supercomm most recently.

Periodic reports on form 20-F form 6K, and Supercomm press release that accompanies this call, particularly the cautionary statements in it.

Today's conference call includes EBITDA, a non-GAAP financial measure that supercomm useful in evaluating its performance you should not consider this additional information in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of this non-GAAP financial measure to net loss of.

Stephanie Prince: For a reconciliation of this non-GAAP financial measure to net loss, a comparable GAAP financial measure, see the reconciliation table located in SuperCom's earnings press release that accompanies this call. Reconciliations for other non-GAAP financial measures and comparable GAAP financial measures are available there as well. The call contains time-sensitive information that is accurate only as of today, 26 October 2022. Except as required by law, SuperCom disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. It is now my pleasure to turn the call over to SuperCom's President and CEO, Ordan Trabelsi.

It.

Contains time sensitive information that is accurate only as of today October 26, 2022 expect as required by law Supercomm disclaims any obligation to publicly update or revise any information to reflect events or circumstance that occur. After this call. It is now my pleasure to turn the call.

Over to Super comes President and C E O or John <unk>.

Ordan Trabelsi: Thank you. Good morning, everyone. Thank you for joining us today. Earlier this morning, we issued a press release of our financial results for Q3 of 2022. You can find a copy in the investor relations section of our website at supercom.com. We continue to maintain our commitment to timely reporting. For our quarterly review, I'll start with a brief update on our recent business highlights, strategy, and Q3 results, followed by a Q&A session. The third quarter was a great quarter for SuperCom with 102% revenue growth year over year to $6.3 million revenues in Q3. We won several important contracts in the US and Europe, and we're excited at the reception and early traction of our newest product, the PureOne, highly innovative and best-of-breed one-piece GPS tracking device.

Thank you good.

Good morning, everyone. Thank you for joining us today.

This morning, we should've press release or financial results.

Quarter of 2023, you can find a copy and then Investor Relations section of our website at <unk>.

Super Com Dot com.

We continue to maintain our commitment to time to record of the recording and for a quarterly review I'll start with a brief update on a recent business highlights strategy acuity results followed by two in a session.

The third quarter was a great quarter for Super calm with 102 per cent revenue growth year over year.

6.3 million revenues in Q3, one several important contracts in the U S and Europe and we're excited at the reception or the attraction of our newest product pier one.

[noise] innovative and best of breed one piece you'd be on the tracking device I'll go into more details on a few moments for those new to Supercomm since our founding in 1980 834 years ago Supercomm has been a trusted partner, providing cutting edge electronic and digital security solutions dozens of governments worldwide. That's part of our mission, we strive to revolutionize the public safety sector worldwide.

Ordan Trabelsi: I'll go into more details in a few moments. For those new to SuperCom, since our founding in 1988, 34 years ago, SuperCom has been a trusted partner, providing cutting-edge electronic and digital security solutions to dozens of governments worldwide. As part of our mission, we strive to revolutionize the public safety sector worldwide through proprietary electronic monitoring technology, data intelligence, and complementary services. We always lead with our technology and entering 2022, we continued to invest heavily in research and development to ensure our product remains the most competitive in the market. We're continuing to introduce new features and technologies through our proprietary platforms, such as unique biometric and communication capabilities and much longer battery life. In parallel, we launched an entirely new solution for domestic violence.

[noise] proprietary electronic monitoring technology data intelligence and complimentary services.

Neither the art technology and entering the 2022, we continued to invest heavily in research and development to ensure our product remains the most competitive in the market, we're continuing to introduce new features and technologies.

[noise] proprietary platforms, such as unique biometric and communication capabilities and much longer battery life and parallel we launched an entirely new solution for domestic violence.

Ordan Trabelsi: In recent years, we've become more and more aware of the immense challenge that nations and governments worldwide face when dealing with their offender populations. First, many countries suffer from high recidivism rates, where people relapse to more criminal behavior after finishing their sentence, clogging the criminal justice system. Second, overcrowding is a key contributing factor to poor prison conditions worldwide, resulting in prisoners sleeping in shifts on top of each other or sharing beds. Third, in 2022, about $80 billion were spent in the US to keep roughly 2.3 million people incarcerated, nearly 1% of the entire US population. Beyond that, societal costs of incarceration, lost earnings, adverse health effects, and more are estimated at three times these direct costs at least. Unfortunately, these issues aren't unique to the US and are prevailing globally.

Recent years have become more and more aware of the month challenge.

Is that nations and governments worldwide face when dealing with or offended populations first.

Any country suffer from high recidivism rates will people relapse to war criminal behavior after finishing their sentence clogging the criminal justice system.

Overcrowding is a key contributing factor to pour prison conditions worldwide, resulting in prisoner sleeping in shifts on top of each other or sharing pet Sir.

22 about $80 billion were spent in the U S to keep roughly 2.3 million people incarcerated nearly 1% of the entire U S population beyond that societal cost of incarceration lost earnings adverse health effects and more are estimated at three times the threats cost at least.

Unfortunately, these issues orange needs to the U S and a prevailing globally. It is evident that prisons are far from a deal for solving many challenges and criminal justice dealt meet these challenges we have leveraged our technology and services expertise in government Securities and exchange keep the focus on public safety sector. We're seeing much success and then just the past few weeks we announced.

Ordan Trabelsi: It is evident that prisons are far from ideal for solving the many challenges in criminal justice. To help meet these challenges, we have leveraged our technology and services expertise in government security and experienced teams to focus on the public safety sector. We're seeing much success. In just the past few weeks, we announced that we won and launched a $33 million national electronic monitoring project in Romania. As part of the project, the SuperCom domestic violence solution will enhance the security for those getting hit or hurt by their own family members with an immediate notification to the police and to the victim if the offender has come within close range, posing a threat to their safety. With up to 15,000 monitored offenders per month, this project will help protect so many people, and we feel honored to have the opportunity to do this.

Everyone and launched is 33 million dollar national electronic monitoring project in Romania, as part of the project that Supercomm domestic violence Division one hand, the security for those getting hit.

Hurt by their own family members with an immediate notification to the police.

And to the victim of the offender has come within close range posing a threat to their safety.

Up to 15000 monitored offenders per month. This project will help protect so many people and we feel honored to have the opportunity to do this project alone.

Ordan Trabelsi: The project alone can change so many lives. We also recently announced that SuperCom was awarded Croatia's first national electronic monitoring project, which we have already launched. In addition, we secured a new contract for Sweden's juvenile national electronic monitoring project, the third and final remaining national EM contract in Sweden, all held by SuperCom as of now. In parallel to our success in the EU in the past quarter, we continue to expand into the US, and we won three additional new contracts across three different US states, Texas, Southern California, and Idaho. These wins are great for SuperCom, and they further increase SuperCom's footprint in the US, facilitating more growth in the future.

And changed so many lives.

We also recently announced Supercomm was awarded Christmas first National Tronic monitoring project, which we have already launched in addition, we secured a new contract for students juvenile and that's what I'm trying to <unk>.

Project, the third and final remaining national Yeah, I'm contract in Sweden, all held by supercontinent now.

<unk> successfully you in the past quarter, we continued to expand into the U S and one three additional new contracts across three different USA, Texas, Southern California, and Idaho. These ones are great for Supercomm and they further increase your becomes footprint in the U S facility more growth and future. Furthermore, the missile win.

Ordan Trabelsi: Furthermore, the recent win in Idaho represents our third win and third new customer in Idaho in less than a year, adding to our organically growing customer base and signaling just how rapidly our technology could attract new adjacent customers. Our strategy has been to build amazing technology, expand our presence, and deliver outstanding services. We have successfully executed that strategy by focusing on the following key factors. Our proprietary electronic monitoring technology scores highly in competitive RFPs and supports various programs such as house arrest, GPS monitoring, rehabilitation services, and more. SuperCom has won over 50 new multi-year government projects since 2018. Our strong reputation and recognition as a premium provider of electronic monitoring technology and services also contributes to our win rate. With each customer win and project deployment, we further strengthen our reputation, making us even more competitive.

That's our third wind and certain customer in Idaho in less than a year.

Didn't organically growing customer base. It's you know just how rapidly.

He prescribed you know Jason customers, our strategy has been to build amazing technology expand our president deliver outstanding services, we have successfully execute that strategy by focusing on the following key factors.

I prepared to I was trying to monitor technology scores highly.

Competitive are fees and supports various programs, which is house arrest. He just monitoring rehabilitation services and more supercars one over 50, new multiyear government projects in 2018 are strong reputation recognition to the premium provider of electronic lumps in technology and services also contribute to order it with each customer win and projects appointment.

The furthest tried the notification make up even more competitive.

Ordan Trabelsi: Lastly, our strategic focus and management attention have shifted to our IoT tracking business with recurring revenues in developed countries. Electronic monitoring market was valued around $1.1 billion in 2020 and estimated to reach $1.6 billion by 2025. The US and Europe constitute about 95% of this market. In Europe, we have recently seen an uplift in RFP activity, with an expected over $200 million in upcoming bid opportunities in the next eighteen months. Altogether, these successes and opportunities have resulted in a growing pipeline of business and a recurring revenue rate of above 80%. More broadly, we see a global trend of governments turning to innovative solutions and alternatives to incarceration to ensure public safety, and our PureSecurity technology solutions address these trends by providing an effective way to institutions to enforce home confinement while easing prison overcrowding.

Lastly, our strategic focus imagine attention shifted derived attracting business recurring revenues in developed countries electronic monitoring market was valued around 1.1 billion of 2020 and estimated to reach 1.6 billion by 2025, the U S and Europe concert about 95 per cent of its market in Europe , we have recently seen an uplift and our <unk> activity within <unk>.

Fact that over 200 million in upcoming bid opportunities and the next to a few months altogether. These successes opportunities that resulted in the growing pipeline of business and recurring revenue rate of about 80 per cent.

More broadly we see a global triangle government turn into innovative solutions that alternatives incarceration to ensure public safety and our peer security technology solutions dress. These trends are providing an effective way.

[noise] situtions to enforce home confinement, while he's in prison overcrowding. In addition, it allows them to significantly reduce the associated cost of housing and then me for example.

Ordan Trabelsi: In addition, it allows them to significantly reduce the associated costs of housing an inmate. For example, the total daily cost for monitoring an offender on home confinement for GPS monitoring is approximately $10 to 35 dollars, substantially lower than a $100 to 140 dollars cost a day at a correctional facility. More importantly, home confinement has been shown to reduce recidivism, highlighting its effectiveness in helping offenders improve their lives and making communities safer. Throughout the year, we've announced many new project wins, some in the US, some in Europe, where we have been continuously displacing incumbent vendors, winning at over 65% win rate in the European competitive RFPs. We are proud to have won so many new contracts in such a short period, especially in times of uncertainty and volatility in the market due to a looming threat of recession and unstable geopolitics.

The total daily costs were monitored and Federer in home confinement with GPS monitoring is approximately 10 to $35.

Essentially lower than $100040 cost a day and a correction facility more importantly home confinement has been shown to reduce recidivism.

Highlighting its effectiveness in helping offenders improve their lives and making communities.

Sure.

Throughout the year, we've announced many depressed when some of the U S. Southern Europe , we had been continuously placing coming vendors when that over 65 per cent when rate.

And the European competitive Rfp's, we're proud to have won so many new contract with such a short period, especially in times of uncertainty and volatility in the market due to live in a.

Recession cable geopolitics.

Ordan Trabelsi: Our business is recession-resistant in nature, and the possibility of potential recession increases. We have multiple tailwinds to support resilience and growth in our business. In 2022, we strengthened our operational infrastructure, grew our workforce, and maintained our technology leadership. For example, amidst the ongoing instability in the global economy in the past few months, we successfully finalized the development of a new product, PureOne, as mentioned earlier. In addition, we have further honed our business plans, secured new contracts, and raised the needed financial resources to support our company during a time of volatility and uncertainty in the capital markets. We have also strengthened the company's global sales division, recruiting a new sales team with industry expertise as we continue shifting from passive bidding to an active outreach sales strategy.

Our business is recession resistant in nature and the possibility of consensual recession increases we have multiple tell ones the sport resilience and growth.

In our business Twenty-twenty too he's trumping operation infrastructure, we're workforce maintain our technology leadership for example, I Miss the ongoing instability in the global economy in the past few months, we simply finalized the development of a new product. If you want I had mentioned earlier and an issue. We have further owned or businessman insecurity contracts and raised the needed financial resources to support our company.

During the time of volatility and uncertainty and capital market. We are all just trying the company's global sales division recruiting a new sales team with industry expertise How'd you continue shipped in from past the bidding to an active outreach sales strategy.

Ordan Trabelsi: The new wins and our improved sales teams are the first steps in executing the company's US market expansion strategy and have already driven increased activity with existing customers, and numerous new demos and evaluations with potential new ones. As part of our growth plan, we believe there's an opportunity to enhance our growth in the US through strategic acquisition of local electronic monitoring service providers who have developed a strong reputation and customer base in their respective local communities. We constantly monitor the market for potential acquisitions that could generate significant value by immediately expanding market presence and providing vertical integration synergies. An example of this strategy is reflected through our $3 million acquisition of LCA back in 2016 and the immense strategic value and new project win it has provided us.

The new ones and are improved C. L teams on first steps and executing the companies do S market expansion strategy and I've already driven increased activity just the customers and numerous new demos and valuations of potential Miller, that's part of our growth plan, we blew there's opportunity to enhance our growth and you asked with the dziedzic expedition of local electronic monitoring service providers, well developed a strong imputation of customer base and.

[noise] respected local communities, we constantly monitor the market for potential acquisitions that could generate significant value by immediately expanding market present, and providing vertical integration searches.

Examples of strategies affect it two or 3 million dollar acquisition of LCA back in 2016, and the immensity just value a new project. When it has provided US we have one over $25 million in new projects in California since that acquisition 2016 Hello.

Ordan Trabelsi: We have won over $25 million in new projects in California since that acquisition in 2016 alone. Turning to our financials. In our last conference call, I know that we expect revenue from the projects mentioned above to contribute to our results in Q3 and Q4 financials, as mentioned before. I'm happy to share that we recorded 102% year-over-year revenue growth to $6.3 million in Q3, with our IoT division as the main growth engine, achieving 102% growth in Q3 compared to Q3 of last year. Revenue from developed countries continued to increase, reflecting the completion of our five-year business plan to transform business from unstable emerging countries to developed countries.

Turning to our financials you know that's conference call I know that we expect revenue from the project mentioned above the continued to our financial results to contribute charges will result in suits me in queue for financials I've mentioned before I'm happy to share you recorded 102 per cent your over your revenue growth $6.3 million in the third quarter with a variety.

Division is the main growth engine, achieving 100 per cent growth in the third quarter.

Compared to the third quarter of last year.

Revenue from developed countries continue to increase reflected the completion of our five year business plan to transform a business from unstable emerging countries. The developed countries. As a reminder, legacy business comprised of one time projects revenues in Africa, and South America, which is.

Ordan Trabelsi: As a reminder, the legacy business comprised of one-time project revenues in Africa and South America, which is a sharp contrast to our IoT tracking business in developed countries, which generates recurring revenue of above 80%. Gross profit nearly doubled as well, increased by 96% to $2.1 million compared to $1.1 million in the Q3 of last year due to high growth of project volume. Compared to the corresponding quarter last year, we increased our research and development investments by $333,000 while we continue to develop new products and improve existing ones, keeping us at the edge of innovation and technology leadership in our space.

Contrast drive the tracking business in developed countries whichever is your current revenue of about 80 per cent.

Gross profit nearly doubled as well increased.

By 96% that $2.1 million compared to 1.1 million in third quarter last year due to hydro projects volume.

Compared to the corresponding quarter last year.

<unk>, our research and development investments like $330000, while we continue to develop new products and improve existing ones keeping up with the edge of innovation and technology leadership in our space, our sales and marketing expenses increased by $195000 to support the company's new practice growth strategy and gentle administered expenses increased by 262016 to expand our management team the cause.

Ordan Trabelsi: Our sales and marketing expenses increased by $195,000 to support the company's new proactive growth strategy, and general administrative expenses increased by $262,000 as we continue to expand our management team. The company had a positive EBITDA of +$413,000 compared to a -$53,000 loss in the corresponding period last year, reflecting the benefits of economies of scale associated with the deploying new IoT projects and a continued shift away from legacy business. We ended the Q3 with $3.1 million in cash and cash equivalents and restricted cash, which includes cash from approximately $1.74 million in gross proceeds we raised in July through the exercise of warrants by a stable, accredited institutional investor.

Company.

Had a positive EBITDA $413000 compared to 53000 dollar loss and the corresponding to your last year.

Reflecting the benefits of economies of scale associated with the appointment new Iot projects and then continued shifted away from the legacy business. We ended the third quarter with $3.1 million in cash and cash equivalents Richard Katz.

Which includes casual approximately $1.74 million in gross proceeds you raised in July does exercise warrants bistable credit institutional investor.

Ordan Trabelsi: This cash provides us with the liquidity we need to continue investing in sales, marketing, and R&D to drive revenue growth and expand our global footprint. In closing, as reflected in our financials, we are starting to recognize a significant return on our years of investing in the IoT sector. We believe that we are well positioned for continued growth and capitalizing on new opportunities fueled by these multiple drivers, including a strong presence and reputation in the US and European markets, the countercyclical nature of our industry, public policy shift to monitoring instead of incarceration, and returning to post-COVID levels of business activity. Our recent announcement of new contracts in Europe and the US are compelling examples of our successful business plan execution within a vertical that we SuperCom has a strong presence and an excellent reputation.

This cast provides us with the liquidity what needs to continue investing in sales marketing and R&D to drive revenue growth and expand our global footprint.

In closing.

Ah just sucked it into our financials you are starting to recognize a significant return on our yours are invested in the I T sector. We believe that we're well positioned for continued growth and capitalizing on new opportunities fuelled by these multiple drivers, including a strong presence reputation in the U S and European markets, the counter cyclical nature of our industry.

<unk> policy shifts the monitoring instead of incarceration and returning to post COVID-19 levels of business activity a recent announcements.

A new conscious in Europe , and the U S. A compelling examples of a successful business plan execution within a vertical it was super coming on strong president and excellent reputation.

Ordan Trabelsi: With that, I'll turn the call over to the operator to open for questions. Operator?

With that.

Turn the call over its operator.

It's open for questions operator.

Operator: Ladies and gentlemen, if you wish to ask a question, you will need to press the star, then the number one on your telephone. If you are using a speakerphone, please pick up your handset before entering your request and speaking on the call. If your question has been answered and you wish to withdraw your question, you may do so by pressing star two. One moment for the first question. Your first question for today is coming from Matthew Galinko.

Ladies and gentlemen, if you wish to ask the question you'll need to press the star send the number one on your telephone.

If you are using a speaker phone please pick up your handset before entering your request and speaking on the call.

If your question has been answered and you wish to withdraw your question you may do so by pressing star too.

One moment for the first question.

Yeah.

First question for today is coming from Matthew.

Matthew Galinko: Hey, good morning, and congrats on the strong quarter.

Hey, good morning, and congrats on the corner.

Ordan Trabelsi: Thank you.

Thank you Sir.

Matthew Galinko: Can we start with maybe the US win? Did they result from the new sales push that you talked about that started a couple quarters ago? Is that starting to convert into these deals or is this sort of still the sort of deals you get by word of mouth or passive outreach?

Can we start with maybe the U S. When.

Did they resolve from the new style push that you talked about that started a couple of quarters ago is that starting to convert into the fields or is this sort of.

In order to be able to get by word of mouth or passive outrage.

Ordan Trabelsi: Yes. The answer is yes. It is the results from the sales force. In the US, the market is more fragmented. Instead of bidding on large projects like Romania, which are $33 million, or Sweden, which is $7 million, here we have to kind of have feet on the ground and go opportunity to opportunity. Some of it comes to us by word of mouth, some of it comes because we have good results in our previous projects, and some comes from reaching out to new customers. Either way, we need an active sales team with an active, proactive strategy. They've been doing demos, evaluations, and showing customers just how unique our technology is. That's what leading to wins, and we've been announcing them to share with the rest of the public.

Yes. The answer is yes. It is a result of the sales force in the U S. A market is more fragmented instead of bidding on large projects like Romania, which of $35 or Sweden, which is $79. Yeah. We have to kind of have feet on the ground and go opportunity opportunity.

Some of the concepts of word of mouth. When it comes to me cause we have good results in a previous projects that sound comes from reaching out to new customers either way, we need to act a sales team with an active proactive strategy and they've been doing demos evaluations and customers.

Technology is that's what they need to win we've been announcing them to share with the rest of the <unk>.

Matthew Galinko: Got it. Terrific. You know, on the domestic violence component, is there, you know, an expected launch in the US? Are your salespeople having conversations about that piece? Is there early indication of interest in the US market?

Got a terrific and then you know.

On the domestic violence component.

There you know unexpected launch in the U S.

Are you having time are you tell people, having conversations about that piece and is there.

Early indication of interest in the U S market.

Ordan Trabelsi: Let me quote one of our customers. He's a service provider and a reseller around domestic violence. He says, verbatim, "If you provide me with a domestic violence solution, I will sell the bananas out of it here in the US." Maybe that answers your question. Many customers are waiting for it in the US. Many resellers are waiting for it. Our focus naturally has been to provide it first to the regions with larger revenues, like the $33 million projects versus smaller ones. It's being adapted also to meet the US market needs. Then it'll be spread out to California, the Midwest, and other states and locations. It's in the process, and there's very high demand for it from what we see thus far.

Let me quote one of our customers as a service provider reseller around.

Domestic violence and he says rebate on which you provided me with the domestic violence solution I will sell the bananas.

Out of it here.

Here in the U S.

So maybe that answers your question many customers are waiting for it in the U S. Many resellers are waiting for our focus.

He has been to provide it first to the regents with larger revenues like it's 33 million dollar projects versus smaller ones and it it's being adapted also to meet the U S market needs and then it'll be spread out to California in the Midwest and other states locations. That's in the process and is very high demand for it for what we see that far.

Matthew Galinko: Great.

Ordan Trabelsi: Do you understand how it works? I don't know if we. Maybe I'll mention for a second or two how it's actually, yeah.

I understand I understand.

Ordan Trabelsi: Do you understand how it works? I don't know if we. Maybe I'll mention for a second or two how it's actually, yeah.

How it.

Works I don't know if it.

Not mentioned.

Countries.

Matthew Galinko: Yeah, no, please, expand on that if you could.

No.

Expand on that if he could.

Ordan Trabelsi: Different from our other solutions where you have a bracelet and you're on house arrest, domestic violence is a little different, and we're one of the only ones to do it in the world. Our bracelet, as you may remember, the battery runs for a very long time, over a year. If someone is hit or there's violence in the family and they have a complaint, in many countries, they change the law to allow an immediate application of a bracelet. Our bracelet, which is small and long battery life on their leg.

Yeah, Okay. So <unk>.

Different from all other solutions or do you have a brace it in your house arrest domestic violence is a little different than the one of the only wants to do it in the world are brace that as you may remember the battery lunch for very long time over a year. So if if someone is hit here.

Violence in the family and they have a complaint in many countries. They changed the law to allow an immediate application of a brace at our basic which is small and long battery life on their leg if someone hits upset his wife for example, he gets a bracelet and anytime he comes within 100 metres of her her phone, we'll notify her her and.

Ordan Trabelsi: If someone hits, let's say his wife, for example, he gets a bracelet, and anytime he comes within 100m of her phone will notify her and the police immediately, such that we are effectively and dynamically enforcing restraining orders, which never been done before. Now people have the safety and, you know, peace of mind that they can actually complain if somebody hits them, and they'll be protected with the use of this, I think, amazing technology. It's. Others can't do it because their bracelet's too big, and the person has to charge it every day. And it doesn't uniquely synergize with the mobile phone like ours does.

Police immediately.

We are we are done.

<unk> and dynamically enforcing restraining orders, which never been done before they're not people have the safety and peace of mind that they've actually complaint.

Somebody hits them and they'll be protected with the use of this.

[noise] Amazing technology, so it's others can't do it because of race, it's too big a percentage charged every day and.

Uniquely.

The mobile phone like ours does it so this fits perfectly with our infrastructure and many customers are seeing it and we think it's gonna have a big impact on the market around the world.

Ordan Trabelsi: This fits perfectly with our infrastructure, and many customers are seeing it, and we think it's gonna have a big impact on the market around the world.

Matthew Galinko: That's helpful and sounds like a great solution. Appreciate it. Last question from me is on the single piece bracelet that you I think you mentioned you're seeing some early traction. Can you expand on that a little bit? You know, where is the traction and, you know, at what point will we see that flow through and deals that utilize it or uptake with an existing deal?

That's helpful and sounds like a good.

Great solution. Appreciate it last question for me is.

A single P. Bracelet that you I think you mentioned you're seeing some early tracks and can you expand on that a little bit you know where its attraction and you know at at what point will we see that flow through and you want that utilize it or or uptake within existing deal.

Ordan Trabelsi: I didn't hear the first part, but you said something about traction where? With the PureOne?

I didn't hear the first part you said something about attraction where.

With the pier one.

Matthew Galinko: Yeah, yeah. With the one piece, unit.

Yeah, Yeah with the <unk> unit.

Ordan Trabelsi: Okay, great. We have our two-piece solution, which is a small bracelet that runs for a very long time without charging, communicates with a smartphone. Some customers like just a one-piece solution. There's no phone, just a, you know, piece of hardware on the leg. We developed that as well. We developed, of course, like everything else, we try to make it the most cutting edge in the industry, so we have the best features, lightest weight, longest battery life, best connectivity, and security. We launched it first in the conference in Europe earlier this year, and we already won a project with it in Sweden that we announced earlier this year.

Okay great.

So.

Two P solution, which is a small price with a bunch for a very long time without charging.

Communicate your smartphone.

[noise] servers like just a one piece solution, there's no phone just a piece.

Piece of hardware on the leg.

We develop that as well read about the of course like everything else, we're trying to make it the most cutting edge of industry. So you know the best features latest wait too long as battery life best connectivity and security and we launched it first thing in the conference.

In Europe earlier, this year, and where do you want a project with it in Sweden.

We announced earlier this year in the U S is also very exciting and many many customers are asking for it because together with this they will have a few a full.

Ordan Trabelsi: In the US, it's also very exciting, and many customers are asking for it because together with this, they will have a full suite of tools. They'll have the domestic violence, they'll have the two-piece solution on the smartphone, and they'll have the one-piece solution. They'll have the alcohol monitoring solution. They'll have in-home monitoring solution. All this works together seamlessly on the same management studio on the cloud. It's very helpful and effective for the officers who are using this technology. Rather than having to go to different software tools for every different hardware here, they have all-in-one, and it makes their work much easier and much more effective.

Suite of tools they'll have the domestic violence or have the two P solution on the smartphone and they'll have it won't be sociable, how the alcohol on his room solution.

Monitoring switching all this works together as soon as he on the same management.

[noise] deal on the cloud.

It's very very helpful and effective for the officers were using this technology rather than having to go to different software tools for every different hardware here. They have all in one and it makes it much easier and much more effective.

Matthew Galinko: Got it. Thank you.

Got it thank you.

Ordan Trabelsi: Yeah. Sure.

Mmm.

Sure.

Operator: Your next question for today is coming from Ken Wyner.

Your next question for today is coming from Ken Weiner.

Ken Wyner: Yeah, hi. Good morning. The first thing I wanted to ask you about was the listing requirements.

Yeah, Hi, good morning, the first thing I wanted to ask you about was the listing requirements.

Ordan Trabelsi: Yes. What is the question?

Yes, and what is the question.

Ken Wyner: Well, basically, you know, I think it's you're deficient in meeting the exchange's listing requirements.

Well basically.

You know I I I think you are deficient in in meeting the exchanges listing requirements.

Ordan Trabelsi: Okay. Yeah, let me answer if I understand the question correctly. We have not met the $1 minimum requirement from the Nasdaq exchange, and we have essentially until, if I'm not mistaken, 13 December to correct that. We are taking the proper measures. It's more of an operational issue in order to get this done, and we are on it. We expect in time to have this resolved.

Okay. So let me answer if I understand the question correctly, we have not we have not met the one dollar minimum requirement.

And the NASDAQ exchange and we have essentially until if I'm not mistaken December 13th.

To to correct that we are taking the proper measures. It's it's more of a operational issue in order to get this done and we were on it we accept in time to have this resolved.

Ken Wyner: When you say it's an operational issue, I mean, the stock's $0.26 and you say requirement is $1. How do you fill the gap?

Well what did you say, it's an operational issue stocks 26 cents and you say requirement. It's a dollar so.

So how do you feel that.

Ordan Trabelsi: Stock is-

Ken Wyner: Excuse me?

Excuse me, but I just thought we.

Ordan Trabelsi: Right. If the stock, we don't control the stock price. If the stock price doesn't reach a level that is required, we also have an ability to do a reverse split and adjust the stock price that way to meet the requirements until 13 December.

We don't control the stock price of the stock price doesn't reach a level that is required. We also have an ability to do a reverse split and adjust the stock price that way.

The requirements until December 13th.

Ken Wyner: Okay. Secondly, you know, obviously it's a tough market out there and a tough environment, but you know, the company has a market cap of $9 million. You know, I've been a stockholder of the company for some time and own a fair amount of shares. I was wondering, you know, what's your thoughts on that and, you know, what one can do to explain your story better so maybe, you know, more people can get interested in the stock.

Okay, and and secondly.

You know, obviously, it's a tough market out there in a tough environment, but.

You know the company has a market cap and $9 million.

I've been the stockholders of the company for some time and notify amount of shares and.

I was wondering you know what's your thoughts on that and you know what what one can do to explain your story better so maybe.

You know more people can get interest in stock.

Ordan Trabelsi: Right. Good question. In the past, we had more time to meet with more investors in conferences and see more institutions and get the word out there. Lately, we've been extremely busy, as you can see, and we try to first focus on the operations. That's why we're winning these new projects. We just announced, you know, a few weeks ago, the largest project in Europe this year, we won it. $33 million. We just announced this quarter, you know, double the revenues from last year and from the previous quarter. The stock is not adjusted. Does that mean the market is valuing us correctly? I think not.

Alright, good question.

In the past, we had more time to to meet with more investors and Congresses and give more institutions and get the word out there.

Lately, we've been extremely busy as you can see and we'd try to first focus on the operation.

That's what we're putting these new projects. We've just announced you know a few weeks ago. The largest project in Europe . This year and we want it $30 million that we just announced this quarter.

Double the revenues from last year when the previous quarter just talk about adjusted does that mean the market is diagnosed correctly I think not but that creates opportunities for new investors to come in at this time and hopefully grow with the company is the stocks over time will adjust to the proper value.

Ordan Trabelsi: That creates opportunities for new investors to come in at this time and hopefully grow with the company as the stock over time will adjust to the proper value. I'm at a conference right now, at an LD Micro conference in California, where we'll be meeting investors all day, and we will try to integrate these conferences and these communications with investors as much as we possibly can. Our focus will be on operations, and we have to create the long-term value of the company, which is more important at least for general strategy than the maintaining the immediate stock price at every given moment.

I'm at a conference right now at a L D micro confidence in California, where I will be meeting investors all day.

We will try to integrate these conferences and these communications of investors as much as you possibly can.

Our focus will be on operations and we have to create the longterm value the company, which is more important than a general strategy than than to maintaining the immediate stock price at any given moment.

Ken Wyner: No, I agree with that. Let's talk about going forward. I mean, obviously, you know, it seems like this quarter was a breakthrough quarter for you. In other words, it seems that you're gaining traction and you're hitting some of the, you know, the goals you set out. Is the quarter an aberration or do you expect future growth in, you know, in the coming quarters?

No I I agree with that but so let's talk about going forward.

Obviously, you know it seems like this quarter was a breakthrough quota for use in other words, it seems that you're gaining traction.

And you're hitting some of the you know the.

Goals you set out.

Is the <unk> is is is the.

Quarter, an aberration or would you expect a future growth and you know coming quarters.

[noise] separation I think we have a strategy to grow our revenues from where where they have been.

Ordan Trabelsi: I don't think it's an aberration. I think we have a strategy to grow our revenues from where they've been. At a high level we had a business of e-Gov, which had revenues of close to $30 million, and IoT was close to nothing. We grew that to, you know, close to $10 million while e-Gov has declined. Our strategy is to keep on growing that into tens of millions of dollars. We don't think this growth is something unique that will not reoccur in the future. That being said, we don't control the growth in every quarter. We're dependent on the timelines of our government customers. We're dependent on them choosing when to award the contracts, when to launch a project, and when to finish a significant milestone.

So the high level, we had that we had a business of <unk>, which had revenue difficult cause of $39 and I O T was close to not saying we grew that too.

You know close to $10 million, while you Gov has declined and our strategies to keep on growing that tens of millions of dollars. So we don't think this growth there's something.

Unique that were not reoccurring future with that being said, we don't control the growth in every quarter vary depending on the time lines of a basketball government customers would depending on them choosing when to award the contracts went to large projects I want to finish it significant milestone we just lots of projects, Romania. We've done a lot of work in this quarter. We continued to work in the following quarters, but we will not be able to control exactly what work will be done.

Ordan Trabelsi: We just launched a project in Romania. We've done a lot of work in this quarter. We continue to do work in the following quarters, but we will not be able to control exactly what work will be done in each quarter. That also depends on our customer. Furthermore, we're bidding on many other projects around the world, in Europe, and the US, and we expect to win many of them. As we win, they will layer on to our recurring revenue base, which is over 80%, and continue to grow our revenues. Our strategy is, you know, consistently to grow our presence. With that, we'll grow our revenues, and with that, the company will grow.

These quarter that also depends on our customer. Furthermore, we're bidding on many many many other projects around the world and Europe and the U S and we expect to win many of them. When they were they were onto a recurring revenue base, which is over 80 per cent and continue to grow revenues. So.

<unk> yeah.

Consistent presence with that will grow our revenues and would that the company will grow. This is just a nice <unk>.

Ordan Trabelsi: This is just a nice example for people to see what can happen, and much more than this can happen, and how it immediately impacts our profitability, thanks to operating leverage. Because we don't need to grow our operating cost structure significantly to add more projects and more units. This is up to 15,000 units. We could add tens and tens of thousands more units without changing almost anything to our operating structure. Maybe adding in a person here or there, but everything will result from operating leverage. Profitability will come, and the contribution margins of each additional bracelet, let's say, is very high.

Example, people to see what can happen.

And much more than this can happen and how it immediately impacts on profitability. Thanks to operating leverage cause we don't need to grow or operating cost structure significantly to add more projects.

This is up to 15000 units, we could add tens and tens of thousands more units without changing almost anything to operate instruction, maybe adding a new person here or there but.

We will resolve property leveraged profitability will come and the contribution margins of each additional.

Let's say is very high.

Ken Wyner: What about the debt maturities? Are you able to service the debt? How about-

And and what about the pet maturities are you able to service the debt.

Ken Wyner: What about the debt maturities? Are you able to service the debt? How about-

And how bad it turns out.

Ordan Trabelsi: In terms of our

Ken Wyner: the maturities on debt?

On that.

Ordan Trabelsi: With Fortress, our current maturity is around December 2024. We believe our creditors see our vision, and they believe in it, and they've worked with us to adapt the structure and the requirements to the goals of the company. We will be able to service the debt over time. That's not our current focus right now, as we're also very much focused on growth. In time, we'll be able to handle it. They believe that as well.

I was fortunate Sarkar majorities around December 2024, and we believe our cutters, the our vision and they believe in it and they've worked with us to adopt the the structure of the requirements to the goals of the company.

We will be able to service that over time, that's not our current focus right. Now. We're also very much focused on gross but in time.

Be able to handle it and they believe that as well.

Ken Wyner: The last question is, what are your terms of the contract? What is your accounts receivable total right now?

And the last question is what are your terms of the contract.

What what is the what are you what's your accounts receivable total right now.

Ordan Trabelsi: I have to open up the PR, but I think it's around $13 million.

Not to open up the pier about things around $13 million.

Ken Wyner: How much?

Ordan Trabelsi: Hold on one second. I think it's around $13 million. I have to get the exact number.

How much hold on one second.

I think it's around $13 million out to get the exact number.

Ken Wyner: If you're selling $6 million and you have accounts receivable, $13 million, then what are your terms?

So if you sell and $6 million and you have cats receivables $13 million then what is what are your terms.

Ken Wyner: If you're selling $6 million and you have accounts receivable, $13 million, then what are your terms?

Ordan Trabelsi: Well, the way that works is a little different than normal business. Yeah, the trade receivables down in this quarter were $13.7 million. The way that typically works, we have large project deployment. When you're deploying a large project, you get paid when you reach certain milestones. So we recognize some of the revenue as a percentage of completion. For example, we can deploy in one quarter a ton of the work, recognize some revenue for that work, and we still don't get paid. Not that it's overdue, it just hasn't even been billed. It's unbilled revenue. Most of our customers in the US and in Europe are very timely payers. This is one of our goals for moving to the developed countries, away from Africa and South America, where we had more delays.

Well the way the way that works is a little different than normal business, yeah. The trade receivables 10 at this quarter or $13.7 million.

The way that typically works, we have a large project deployment and we're going to play and a large project you get paid.

When you reach certain milestones.

So we recognize some of the revenues percentage of completion. So for example, we can deploy and one quarter.

Ton of the work recognize some revenue for that work and we still don't get paid nothing it's overdue.

You need to build its unveiled revenue.

Most of our customers and the U S and in Europe are very timely.

This is one of our goals for moving to the developed countries away from Africa, and South America, or we have more delays some of our trade receivables are still from those old revenues from that you got business. Some of them had been written off discount it but the new revenues from the Ivy tracking business.

Ordan Trabelsi: Some of our trade receivables are still from those old revenues from the e-Gov business. Some of them have been written off and discounted, but the new revenues from the IoT tracking business have actually been very timely pay-payers. We're happy with that.

I've actually been a very tiny pyre payors, we're happy with that.

Ken Wyner: The last question is, on the big contract that you landed for $33, when do you start to recognize revenues for that?

And the last question is what.

Big contract that you landed for thirty-two when do you start to recognize revenues for that.

Ordan Trabelsi: We already have started. You see that in Q3.

We already have started you see though you Henry.

Ken Wyner: Oh, you have?

Ordan Trabelsi: Yeah. The go live was early October. It was probably one of the fastest go live projects in the world in the space. It's a brand new country. I mean, a brand new EM country. They've never done electronic monitoring. You know, we were excited that we were able to support them to launch such a huge project so fast and without any experience in EM for them. It was a great win for us and for them. They did a great job. You know, we take this as another capability that we bring with us to future projects. Not just great technology and great services, but also great execution with a very timely deployment.

Yeah, they'll go live as early October .

Probably one of the fastest go live.

Projects in the world and the space.

It's brand new country, they've ever I mean, vannguyen country, they never done I'll try monitoring.

And you know we were excited we're able to support them to launch such a huge project so fast.

And experience.

M for them it was a great win for us.

For them they did a great job.

And you know we take this is another capability that we bring with us to choose your projects not just basic technology, great services, but also great execution with a very timely deployment.

Ken Wyner: The other question is, you know, when you're dealing with governments and, you know, is your financial condition or your stock price an inhibitor for landing deals?

And the other question is you know when you're dealing with governments and you know.

Did they.

Issue of financial condition or your stock price.

Inhibitor for lending deals.

Ordan Trabelsi: It depends if they talk to us, and they usually do. Once they talk to us, they get comfortable. If they have technical limitations, we could team up with other vendors. They usually have a local partner who speaks the language, who works for the government. They're usually a much larger company, telecom providers, IT providers. Teaming up with them, the financials look perfect.

The time that they talk to us and they usually do want to talk to US you get comfortable if they have technical limitations, we could team up with.

Other vendors they usually have a local partner speaks the language who works for the government, they're usually much larger companies telecom providers I T providers.

I'm a financial a perfect.

Ken Wyner: All right. Thank you very much. Good luck.

Alright, Thank you very much good luck.

Ordan Trabelsi: Thank you.

Thank you.

Operator: Your next question is coming from Zvi Rihn.

Your next question is coming from Z Ryan.

Zvi Rihn: Hey, good morning, Ordan. Congratulations on the Romanian win. I know how valuable that is to your business. As it relates to, you said that you're already generating revenues. Were any revenues from that project actually recognized in Q3?

[Analyst 1]: Hey, good morning, Ordan. Congratulations on the Romanian win. I know how valuable that is to your business. As it relates to, you said that you're already generating revenues. Were any revenues from that project actually recognized in Q3?

Hey, good morning hard on.

Congratulations on the Romanian when I know how valuable that is your business.

As it relates to you said that that you already generating revenues were any redness.

That project actually recognized in the third quarter.

Ordan Trabelsi: Yes.

Zvi Rihn: In the $6.3 million?

[Analyst 1]: In the $6.3 million?

Yeah, six 3 million.

Ordan Trabelsi: Yep.

Zvi Rihn: Can you tell us how much of that was and how much cash was it?

[Analyst 1]: Can you tell us how much of that was and how much cash was it?

Can you tell us how much of that wasn't.

And how much.

Mhm.

Ordan Trabelsi: We can't share that at this point. We're not sharing the revenues per project. I don't have that information readily available. We did start recognizing in Q3. We'll continue recognizing in the following quarters. Yeah, the project only started in October, so it takes a little bit of time to get the cash, but also you have to meet certain milestones to get that.

We can share that at this point.

We're not sharing the revenues for project I don't have the information that you've already available, but we did start recognizing Q3, and we'll continue recognizing in the following quarters and.

Caches.

Probably the only started October so.

It takes a little bit of time to get the cash, but also you have to meet certain milestones to get that.

Zvi Rihn: Was the Romanian project the biggest driver of the increase sequentially in the accounts receivable? The receivables went up by about $1.2 million sequentially. Is Romania the biggest driver of that?

Is that the Romanian.

[Analyst 1]: Was the Romanian project the biggest driver of the increase sequentially in the accounts receivable? The receivables went up by about $1.2 million sequentially. Is Romania the biggest driver of that?

Project.

The biggest driver of the increase sequentially in the accounts receivable and receivables went up.

1.2 million sequentially.

The biggest driver.

Ordan Trabelsi: Well, I think it's fair to say. I mean, Romania is the biggest driver of change in this quarter. It's the biggest project we have, and we just started launching it, so it, you know, it impacted all the metrics, including the accounts receivable.

I think it's fair to say I mean remains the biggest the driver of change in this quarter.

It's the biggest projects, we have and we just started launching itself.

He didn't pass it all the metrics include.

Including a catch suitable.

Zvi Rihn: What about gross margins for the nine-month period? Year to date, you have a 33% increase, give or take, on the top line, but gross profit was essentially flat. Can you give us just a little bit background on the impact of some of these new projects on your gross margins and where you think the gross margin percentage should kind of stabilize at, and when you're at a full scale for all these new projects you've rolled out?

[Analyst 1]: What about gross margins for the nine-month period? Year to date, you have a 33% increase, give or take, on the top line, but gross profit was essentially flat. Can you give us just a little bit background on the impact of some of these new projects on your gross margins and where you think the gross margin percentage should kind of stabilize at, and when you're at a full scale for all these new projects you've rolled out?

And what about gross margins for the for the nine months period. So <unk> you have a 33 per cent increase give or take on the top line, but.

Problem was essentially flat so.

Can you give us just a little bit background on.

The impact of some of these new projects and your gross margins and where do you think the gross margin percentage should kind of stabilize at and when you're at a a full scale for all these new new projects and throw it out.

Ordan Trabelsi: I'll start with the end. If you look at the cost structure of our hardware and the data cost and the cloud cost, the contribution margin of every additional bracelet is, you know, way above 50%. Over time, with economies of scale and operating leverage, those will be the gross margin for the business. The operating costs, the fixed ones, will be very insignificant, and everything else will just be the contribution of the variable cost, which is every additional bracelet, above 50%, you know, significantly above. At this point, we're deploying new projects. Just like in our past business, also in this one, during the project deployment stage, there's hardware to buy, there's servers to buy, there's communications to install, there's IT. Those naturally have lower margins.

I'll start with the and if you look at the cost structure of our hardware and the data cost and.

Cloud cough.

Contribution margin of every additional brace that is.

About 50 per cent over time with economies of scale and operating leverage those will be the gross margin for the business operating cost of six months will be very insignificant and everything else. It would just be the contribution of the variable cost which is every additional bracelet.

About 50 per cent.

Significantly above at this point, we're deploying new projects and just like in our in our passengers. It's also this one during the project Department stage, there's hardware to buy their servers to buy this communications since all the iced tea and those that should have lower margins, you're paying I T person come in and it's all serve as a can of cables you can't get it 50 per cent margin off it was.

Ordan Trabelsi: If you're paying an IT person to come in and install servers and connect cables, you can't get a 50% margin off of his work. Maybe you get 15% or 20%. When you're launching a new project, the initial stage will have a lot of lower margin components. As everything starts to run seamlessly and you're more into just natural flow of recurring revenues and marginal offenders, the margins will be higher. In these three quarters, new projects started, especially this big one, and that impacted the margins temporarily. Over time, we will continue to converge into the same core of our business, which is higher margin.

Work.

15% or 20, so when you're launching a new project. The initial stage, you'll have a lot of lower margin components and as everything starts to run seamlessly and you're more into just natural flow a recurring revenues a monitor offenders the margins will be higher so.

And these three quarters New project started.

Especially in this big one.

That impacted the margins.

Temporarily but over time, we will continue to conversion to the same.

Core of a business, which is higher.

March.

Zvi Rihn: Okay. As it relates to domestic violence, which seems like it could be a very, very attractive new market for you, obviously, that was included in the Romania project. How many other jurisdictions that you're involved in include that domestic violence application?

[Analyst 1]: Okay. As it relates to domestic violence, which seems like it could be a very, very attractive new market for you, obviously, that was included in the Romania project. How many other jurisdictions that you're involved in include that domestic violence application?

Okay and is it released a domestic violence, which seems that can be a very very attractive.

New market for Ya, obviously that was included in your Romania projects, how many other jurisdictions that you're involved in include that domestic violence.

<unk>.

Ordan Trabelsi: Off the top of my head, there's at least one or two other countries in Europe that we're doing domestic violence. I won't say the names because I don't wanna be imprecise. In the US, many states and counties are asking for it. We just haven't completed the adjustment to the US market. There's different technologies, there's different needs, there's different processes, different laws, and we just have to update it. It's just a matter of time and resources.

I've taught my head, there's at least one or two other countries in Europe that we're doing domestic violence I won't say the names cause I'd wanna be precise but in the U S. Many states and counties are asking for it. We just haven't completed the completed the the adjustment to the U S market.

I'll use different needs are different processes different laws and we just have to update it. It's just a matter of time and resources.

Zvi Rihn: Okay.

[Analyst 1]: Okay.

Ordan Trabelsi: Yeah, it is something that we believe, considering the core of our technology and the core of what we can do and the core need of domestic violence, is something that we will be able to do probably better than anyone else in a significant manner. It is one of the things that excites me most about our upcoming future and growth.

Okay.

Something that we believe can.

Considering the core of our technology and the core of what we can do and according to your domestic violence is something that we will be able to do probably better than anyone else.

Significant manner. So it is one of the things that excites me, most daughter upcoming future growth.

Zvi Rihn: It sounds promising. The last question is, you had a press release regarding an e-Gov contract for around $1.7 million, and you've alluded to having a tough time collecting the receivables from e-Gov customers in the past. Can I presume that-

[Analyst 1]: It sounds promising. The last question is, you had a press release regarding an e-Gov contract for around $1.7 million, and you've alluded to having a tough time collecting the receivables from e-Gov customers in the past. Can I presume that-

That sounds that sounds promising and last question is.

You had a press release regarding and he got a contract for around 1.7 million and you've alluded to you having a tough time collecting.

The received <unk> customers in the past.

Can I presume that at this point.

Ordan Trabelsi: Not this one.

Zvi Rihn: Not this one. Okay. That's what I was-

[Analyst 1]: Not this one. Okay. That's what I was-

Okay. That's that's why I would not.

Ordan Trabelsi: No, not this one.

[laughter] that's been great, we're not focusing on a bunch of the Gaza is even notice.

Zvi Rihn: Okay.

[Analyst 1]: Okay.

Ordan Trabelsi: This one's been great. We're not focusing a bunch of e-Gov, as you noticed, especially not the ones who are gonna give us challenges with collections. e-Gov is there to support, but, you know, our requirements and request for cash is much more stringent than it was in the past. Again, because we're not focusing on this, we don't wanna give them any additional comfort. They wanna get the equipment, they need to pay. A lot of it's upfront. We have a leverage in getting cash from this customer, for example.

Especially not the ones, who are going to give us a challenge as a collection.

[noise] is there to support but R. A R. R. A.

Acquirements and requests.

Quest for cash is much more stringent than it was in the past again, because we're not focusing on this we don't Wanna give up any any additional comfort you don't want to get the equipment I need to pay.

A lot of its upfront.

And we have our leverage in getting cash from from this customer for example.

Zvi Rihn: Okay, great to hear. Well, congratulations on, what's, seemingly some positive steps forward.

[Analyst 1]: Okay, great to hear. Well, congratulations on, what's, seemingly some positive steps forward.

Okay, great to hear congratulations on what's seemingly some positive steps forward.

Ordan Trabelsi: Thank you very much.

Thank you very much.

Operator: Once again, if there are any questions or comments, please press star one on your phone at this time. Ladies and gentlemen, as a reminder, if you have any questions, please press star one. Your next question is coming from Mike Walters. Mike, your line is live.

Once again, if there are any questions or comments. Please press star one on your phone at this time.

Ladies and gentlemen, as a reminder, if you have any questions. Please press star one.

[noise].

Ladies and gentlemen, as a reminder, if you have any questions. Please press star wine.

Your next question is coming from like blood Thinners.

Mike Your line of life.

Mike Walters: Hello, Oded. Can you hear me?

[Analyst 2]: Hello, Oded. Can you hear me?

Hello.

Hear me.

Ordan Trabelsi: Yes. Good morning, Mike.

Yes, good morning.

Mike Walters: Hi. I wanted to say congratulations on the great quarter. I'm a big fan of everything you are, everything you do, and everything you stand for.

[Analyst 2]: Hi. I wanted to say congratulations on the great quarter. I'm a big fan of everything you are, everything you do, and everything you stand for.

Hi, I wanted to say congratulations on the great colored I'm, a big fan of everything you are everything you do and everything you stay on for.

Ordan Trabelsi: Thank you.

Mike Walters: I had just a few questions. I love your excitement, by the way. I can tell you. I saw your webcast and your smile and all the things that you say are quite amazing. Question on

I have just a few questions I love your excitement by the way I can tell you I saw your webcast and that your your your smile.

[Analyst 2]: I had just a few questions. I love your excitement, by the way. I can tell you. I saw your webcast and your smile and all the things that you say are quite amazing. Question on

All the things that you say quite amazing question on I believe and what was that.

Ordan Trabelsi: Thank you. I believe in what we're doing.

Mike Walters: Yeah. I could tell.

[Analyst 2]: Yeah. I could tell.

I can tell.

Ordan Trabelsi: Got that.

Mike Walters: I do too.

[Analyst 2]: I do too.

Ordan Trabelsi: Yeah.

Mike Walters: I wanted to ask a question about, so I know you've had numerous contract wins over the past year. Some of the revenues from the $33 million contract are reflected. Is that in this quarter ending, is all 10 of those contracts reflecting in this quarter, or will there be more reflection going into Q4?

Yeah.

[Analyst 2]: I wanted to ask a question about, so I know you've had numerous contract wins over the past year. Some of the revenues from the $33 million contract are reflected. Is that in this quarter ending, is all 10 of those contracts reflecting in this quarter, or will there be more reflection going into Q4?

I wanted to ask a question about so I know you've had numerous contract wins over the past year. So some of the revenues from the 33 million dollar contract or reflected or is that so it in this quarter ending is all all 10 of those contracts reflecting.

And this quarter or will they be there'll be more reflection going into the forest.

Ordan Trabelsi: Maybe help me understand your question a little better. Which ten contracts are you speaking of? We have many contracts in different locations.

Maybe help me understand your question will better which 10 contracts are you speaking of we.

Redfin different locations.

Mike Walters: Yeah, I know. Like, so I know there were like five or six in the United States, going into the end of last year and then in Q1 and Q2, and then, numerous here going in throughout 2022. And also, are they recurring, yes?

[Analyst 2]: Yeah, I know. Like, so I know there were like five or six in the United States, going into the end of last year and then in Q1 and Q2, and then, numerous here going in throughout 2022. And also, are they recurring, yes?

Yeah, I know like so another like five or six in the United States going into the end of last year and then in quarters wanted too and then numerous you're going throughout 2022.

And also are they <unk> they are reoccurring yes.

Ordan Trabelsi: Let me help clarify and explain a little bit. Since I think 2018, we won 50 new projects. The latter, we started with the smallest one, $100,000, $200,000 project, and it grew in size to $1.8 million. In Canada, $3.7 million. In Czech, Denmark, and then Sweden, $7 million. We aim to continue growing the scale in the latter, and we just won a project of $33 million, our largest project in the past decade and largest DM project now in Europe. Every project that we win, in theory, adds a recurring revenue base because there's always a recurring revenue component in every project. In some projects, it's the majority of the component. Like in the US, almost everything is charged and billed per unit per day.

So yeah. So let me help a clarifying explain a little bit since I think 2018, we want 50 new project.

We started with the smallest $100000 and 90000 dollar projects and grew in size to $1.8 million.

Canada, 3.7 million and check, Denmark, and Sweden $7 million.

To continue growing scale and the ladder and we just want to project the $33 million our largest project.

In the past decade, and largest dam project right now in Europe .

Project that we win in theory.

Revenue base, because there's always a recurring revenue component every project and some projects gets the majority of the components like in a <unk> in the U S. Almost everything is charged bills per unit per day in Europe . That's also <unk>.

Ordan Trabelsi: In Europe, that's also prevalent, the structure, but sometimes they wanna purchase units, and then the recurring revenue part is a smaller part of the actual full revenues. That being said, we've been launching projects consistently at different start dates. Every month or two, we keep launching, and they add on to the current revenue base. The amount of units is up to them based on their current needs, based on their political goals and structures, and we're here to support. Q3 has revenues from many different projects around the world. A big change in Q3 is this Romania project. Before we expect Romania and other projects to also roll in. Because of the recurring revenue structure, they keep on adding on top of each other.

The structure, but sometimes they want to purchase units and then recurring revenue part is a smaller part of the actual full revenues that being said.

We've been launching projects consistently at different start dates every month that you could keep launching and they add onto a recurring revenue base. The amount of units is up to them based on their current needs based on their political.

Goals and structures and we're here to support so two three has revenues from many different projects.

Around the world and a big change.

Changing through three is just Romania project before we set Germania and other projects. It's also a rollin and because the recurring revenue structure. They keep on adding on top of each other so the reason why you sometimes see a slowdown in revenue growth is also because we are still chasing out the eager business, which the business needs to be $30 million back in 2015.

Ordan Trabelsi: The reason why you sometimes see a slowdown in revenue growth is also because we are still phasing out the e-Gov business, which the business used to be $30 million back in 2015. That's for biometric passports and ID cards in Africa and South America. We've been phasing that out while together growing this IoT business.

That's for biometric passports I D cards in Africa, and South America, we've been facing that out well together Grubbings Iot business.

Mike Walters: Mm-hmm.

[Analyst 2]: Mm-hmm.

Ordan Trabelsi: Yes. This revenue does reflect, this quarter does reflect many revenues from many different projects, and we expect to continue to reflect these revenues and to have new ones with new projects that we will win.

Mhm, Yes, we are being this revenue does reflect this court does reflect many revenues for many of the projects.

Try to continue to reflect these revenues and to have new ones with new projects.

Mike Walters: Awesome. In the webcast that I heard, you had said it basically, like I got, if I understood correctly, the electronic monitoring works on land, obviously, in subways, so underground and in buildings, high up in the air.

[Analyst 2]: Awesome. In the webcast that I heard, you had said it basically, like I got, if I understood correctly, the electronic monitoring works on land, obviously, in subways, so underground and in buildings, high up in the air.

Awesome.

Awesome in in the webcast that I heard you had said it basically like I got if I understood correctly, you the electronics electronic monitoring.

Works on land, obviously in subways, so underground and buildings high up in the air.

Ordan Trabelsi: Yeah.

Mike Walters: Is that? Do you guys ever have any issues with that? Like, is it? 'Cause I know like on phones, my cell phone, sometimes I'll go into an area where it's a little bit dark or whatever and I might have trouble with like the loading of the service. Do you ever run into issues like that? Or is it just a constant, very accurate system that lasts, that works pretty much everywhere?

Is is that do you guys ever have any issues with that like is.

[Analyst 2]: Is that? Do you guys ever have any issues with that? Like, is it? 'Cause I know like on phones, my cell phone, sometimes I'll go into an area where it's a little bit dark or whatever and I might have trouble with like the loading of the service. Do you ever run into issues like that? Or is it just a constant, very accurate system that lasts, that works pretty much everywhere?

Is like if the cause I know like on phones in my cellphone, sometimes I'll go into an area, where it's a little bit dark or whatever and I might have trouble with like the.

The loading of the service do you ever run into issues like that or is it just a constant.

Very accurate system there the last that works pretty much everywhere.

Ordan Trabelsi: It's a great question, and let me get a little bit technical, if you don't mind.

That's a great question and let me get a little bit technical if you don't mind.

Mike Walters: Okay.

[Analyst 2]: Okay.

Ordan Trabelsi: First of all, no communication system is perfect. But what is important, at least for our business plan, is to always be one step above the rest. Everyone else has been developing their own proprietary location tracking technology for the past 10, 15, 20 years. These are small companies with $100, $200 million in value of revenue. They're competing with companies like Samsung and Apple for location and Google for location services. Obviously, it's so much competition. We developed our own location as well, but we also integrate all the location services from all the largest companies in the world. When we provide location services, we offer, you know, multiple channels to track locations. If you're underground, we're not using GPS, we're using Wi-Fi networks through the Google network.

First of all.

Communication system is perfect Board is important at least for a business plan is to always be one step above the rest.

Everyone else been developing their own proprietary location tracking technology for the past 10, 15, 20 years and they just small companies with 100 $200 million the value of revenue, they're competing with companies like Samsung an apple relocation in Google for location services.

Thank you so much competition, we developed thrown location as well, but we also integrate all the location services from all the largest companies in the world. So when we provide location services we offer.

You know multiple channels to track locations, if you're underground we're not using G. P. S for using Wi Fi networks do the Google network.

Ordan Trabelsi: you could track someone underneath the ground in the subway, which almost nobody else can in our industry. When you're in the building, we also have, you know, inmate monitoring technologies, where we have low-frequency signals, and we're able to locate where someone is precisely within the floor. Not just he's in this building, but he's on the 12th floor, he's on the 20th floor, and so forth.

So you could track someone underneath the ground in the subway, which almost nobody else can in our industry when you're in the building. We also have.

Monitoring technologies, where we have a low frequency signals.

Okay, where someone is precisely within the floor, but not just here in this building based on the 12th floor is on 20th floor and so forth.

Mike Walters: Wow.

[Analyst 2]: Wow.

Ordan Trabelsi: SuperCom has been dealing with location technologies since 2005, and we have been able and lucky and fortunate to combine all these technologies into this unique proprietary solution. When it comes to testing our technology or location capabilities, I feel the customers are blown away. When they test the weight of our product, I feel the customers are blown away. When they test the security of our product, many of our employees and staff have been in military, in intelligence and security, and we bring top-notch security to our product. Once again, I believe our customers are blown away. This is what helps us win more and more projects.

Supercomm has been dealing with location technology since 2005, and we have been able and lucky and fortunate to combine all these technologies into this unique proprietary solution. So when it comes to testing our technology on vacation capabilities.

I feel the customers are blown away when.

When they test the weight of our product I said the customers are blown away when they take the security of our product many of our P. R.

Staff have been in the military and intelligence and security and we bring topknot Securitas our products and once again I believe our customers are blown away.

Helps us win one more projects I think the more projects you deploy more customers will see why we are unique in that will allow us to grow even faster.

Ordan Trabelsi: I think the more projects we deploy, the more customers will see why we are unique, and that will allow us to grow even faster throughout the world.

The world.

Mike Walters: Awesome. It's very exciting. It's like Star Trek stuff to me, almost like I can see the possibilities are pretty vast and they keep going. Like, there's, I don't really see a lack of need for things that not just people, but also places and things that need monitored on a continuous basis. And then that leads me to my next question. Do you foresee in the future this being just limited to, I know inmate tracking and the house arrest is amazing market for that. I have a great imagination and I speculate that there's probably other as

[Analyst 2]: Awesome. It's very exciting. It's like Star Trek stuff to me, almost like I can see the possibilities are pretty vast and they keep going. Like, there's, I don't really see a lack of need for things that not just people, but also places and things that need monitored on a continuous basis. And then that leads me to my next question. Do you foresee in the future this being just limited to, I know inmate tracking and the house arrest is amazing market for that. I have a great imagination and I speculate that there's probably other as

Awesome.

Exciting like Star Trek stuff to me almost like I can see the possibility that pretty pretty vast keep going.

I don't really see a lack of need for some things that are not just people, but also places and things that need monitored on a continuous basis.

That leads me to my next question was.

[noise] foresee in the future. This being just just limited to I know it made it made <unk>.

Tracking and the house arrest is is amazing market for that but I have a great imagination.

Alright.

I speculate that there's probably other.

Ordan Trabelsi: Opportunities application.

Opposite ends applications market.

Mike Walters: Market. Yeah, for application. Like, I was wondering, I don't know, like maybe, 'cause I know like, I know they monitor, you know, like, athletes need monitoring sometimes when they're doing their practices. Military obviously, when they're in training or in the field. Senior citizens maybe monitoring because I know. Another question. I lead with question after question. I'm sorry. I apologize, but with the biometrics, how extensive are your biometrics? Like, are you measuring heartbeat? Are you able to measure heartbeat and stuff like that or?

[Analyst 2]: Market. Yeah, for application. Like, I was wondering, I don't know, like maybe, 'cause I know like, I know they monitor, you know, like, athletes need monitoring sometimes when they're doing their practices. Military obviously, when they're in training or in the field. Senior citizens maybe monitoring because I know. Another question. I lead with question after question. I'm sorry. I apologize, but with the biometrics, how extensive are your biometrics? Like, are you measuring heartbeat? Are you able to measure heartbeat and stuff like that or?

For application like.

I was wondering I don't know like maybe you could cause I know like.

Or.

Like athletes need monitoring, sometimes when they're doing their practices military obviously, when they're in training or in the field.

[noise] senior citizens may be monitoring cause I know another question is the question. After question, sorry, apologize, but with the biometric how how extensive are your biometrics like are you measuring heartbeat or you're able to measure heartbeat and stuff like that or.

Ordan Trabelsi: Okay, great. Let me answer both your questions. First of all, on the application. I'm a big believer in focus, and we have to understand the size of our company and the resources that we have. While our technology is great, every application, every industry requires a sales force, product team, marketing team, and you have to understand the nuances for every different market if you want to be the best. In the past, since 2005, we've been developing location technology, and we have components which will work great in almost any market. Just like we're tracking offenders, we can track livestock, medical equipment, senior citizens, children, and athletes.

Okay, Great let me.

Those are the questions first of all on the application.

I'm, a big believer in focus.

Focus and we have to understand that the size of our company and the resources that we have.

Technology is great every application every industry required fields.

Salesforce product team marketing team you have to understand the nuances for every different market. If you want to be the best.

In the past 2005, we would develop interface technology, and we have components, which will work great in almost any market just like we're tracking offenders we can.

Livestock and medical equipment, and <unk> and children and athletes and we could take all the signals that are being let's say.

Ordan Trabelsi: We could take all the signals that are being, let's say, amplified and projected from people's bodies, and we can take those signals and we can analyze them and process them and use that for intelligent decision-making for many different markets applications. All that being said, we cannot lose our focus. Right now we're looking at a $1.6 billion industry. We have unique solutions, unique technologies, and we can change and disrupt it. That's exactly what we're doing. We still have a far way to go. $1.6 billion. Our annual revenues, you know, recently were $12 million. Now they're growing.

Amplified and projected from People's bodies, and we can take this thing is we can analyze them and process them and use that for an intelligent decision, making for many different markets applications.

That being said, we cannot lose our focus and right now we're looking at a 1.6 billion dollar industry.

Nick solutions, you need technologies that we could change and disrupted and that's exactly what we're doing.

And when you still have a four way to go $1.6 million or annual revenues.

You said that you were $12 million now they're growing when we get a larger market share. We came up with more companies aren't technology is more prevailing throughout the world and we know that we are creating a huge impact just like we're doing with Romania right now.

Ordan Trabelsi: When we get a larger market share, we team up with more companies and our technology is more prevalent throughout the world, and we know that we are creating a huge impact, just like we're doing with Romania right now for tens of thousands of families. We'll be ready to move on to the next industry, leveraging exactly the same technology but using a different application. That's on your first question. The second, in terms of heart rate data, anything that you see, that you've seen online or on TV, any technology that has been advertised, we have the access to it. Unless it's something that you haven't seen, like proprietary military grade, and I was in the military as well, secrets, we would not be able to access those easily.

Tens of thousands of families then we'll be ready to move on to the next.

Industry and the next industry next industry leveraging exactly the same technology, but using this application definitely first question. The second in terms of heart rate that or anything that you see.

That you've seen online or on television any technology that has been advertised we have the access to it.

It's something that you haven't seen like piety ability military grade and I was in the military as well secrets.

We will not be able to access those easily but all the heartbreak beach, even brain signals D. G energy all those things that you see on Wearables and all that we have.

Ordan Trabelsi: all the, you know, heart rate, beats, even brain signals, EEG, energy

Mike Walters: Wow.

[Analyst 2]: Wow.

Ordan Trabelsi: All those things that you see on wearables and all that, we have access to that just like any other company would. We have a team that could analyze that data very efficiently. We're not there yet. We're focusing first on this current market, and we don't need the heart rate to track offenders. That's not part of our solution today.

Like any other company would and we have a team that could analyze that data very efficiently.

But we're not there yet and we're focusing first.

On this current market and we don't need the heart rate to track offenders, that's not part of our solution today.

Mike Walters: Okay. I love it, though. Your vision. I like that you have the focus. You mentioned your focus is a laser-focused vision and on what's in front of you right now. That's nice. I think that probably answers, well, it doesn't really answer all my questions for sure. I have lots, but I appreciate your time, Ordan, and congratulations to you and the SuperCom team on a great quarter.

[Analyst 2]: Okay. I love it, though. Your vision. I like that you have the focus. You mentioned your focus is a laser-focused vision and on what's in front of you right now. That's nice. I think that probably answers, well, it doesn't really answer all my questions for sure. I have lots, but I appreciate your time, Ordan, and congratulations to you and the SuperCom team on a great quarter.

Okay.

I love it, though you're vision I liked the you have the focus you mentioned your focuses laser focused vision.

And I'll watch out front of you right now that's nice.

I think that.

The answers.

Doesn't really answer all my questions for for sure I have lots of it I. Appreciate your time or then congratulations to you and the Supercomm team.

Ordan Trabelsi: Thank you very much, Mike. Have a good day. Thanks for being with us.

I'm a great. Thank you very much like I have a good day, thanks for being <unk> Mmm.

Mike Walters: You too. Mm-hmm.

[Analyst 3]: You too. Mm-hmm.

Operator: Your next question is coming from Jesus Irarrat.

Your next question is coming from Iraq.

Iraq.

Jesus Irarrat: Good morning. Again, congratulations, like everybody's been saying. Seems like the company is going well. I was just wondering, I know in July you guys got an extension for the-

[Analyst 3]: Good morning. Again, congratulations, like everybody's been saying. Seems like the company is going well. I was just wondering, I know in July you guys got an extension for the-

Good morning.

Nations like everybody's mixing it seems the company's going well.

Wondering annoying July and you guys can an extension for.

Four.

Ordan Trabelsi: The requirement for $1. Yeah.

Yeah, Yes, exactly you guys are gonna be.

Jesus Irarrat: Yes, exactly. Do you guys have any plan to work on that? I mean, I know the company is going well, but there's always short sellers and so on. Is there a plan in case, you know, by December it's not above the $1?

[Analyst 3]: Yes, exactly. Do you guys have any plan to work on that? I mean, I know the company is going well, but there's always short sellers and so on. Is there a plan in case, you know, by December it's not above the $1?

Plan to work and then I mean, I know the company's going well, but there's always a sore sellers. Since one is there a plan in case you know by December .

<unk>.

Ordan Trabelsi: December is the timeline we have. If the price doesn't reach there on its own, we have measures in place to resolve it through reverse splits and other mechanisms.

December 13th at a time.

We have it at the price of the prices and reach there on its own.

Measures in place to the resolve it.

Split and other other mechanisms.

Jesus Irarrat: Okay. You guys are working something, but there's nothing that's been decided so far.

[Analyst 3]: Okay. You guys are working something, but there's nothing that's been decided so far.

Okay. So you guys are working something but there's nothing that's been decided so far.

Ordan Trabelsi: Nothing that's been announced yet, but of course, we've been working on in the back channel. It's a very, common and, well-known situation. It's nothing that's unique to us. Happens to companies sometimes, especially when our stock was only around $1.10, $1.20 before the, you know, the market conditions came, which, impacted many stocks around the world. Hit us as well. Now we're under $1, but again, we have measures in place to resolve it.

Nothing that's been announced yet but of course, we can work on in the back. It's it's a very common and well known situations. It's not something that just happens a company, sometimes especially when our stock was only around $1.10 $1.20 before.

You know the market conditions came which.

Many.

On the world hit Us as well.

100 dollar, but again, we have measures in place to resolve it.

Jesus Irarrat: Wonderful. Another question just related to that. Just considering, I mean, the price that, you know, that is so low, have you guys considered doing like buybacks before it starts going up, or that's not part of the plans?

[Analyst 3]: Wonderful. Another question just related to that. Just considering, I mean, the price that, you know, that is so low, have you guys considered doing like buybacks before it starts going up, or that's not part of the plans?

Wonderful and another questions just related to that just consider thing I mean the price.

So while I have you guys considered <unk> before going up or that's not part of the plans.

Ordan Trabelsi: We haven't announced a new one. If you're talking about corporate buyback, we haven't announced a new one. We've done that in the past. It all depends on the cash on hand. Right now, as you see, we need our cash because we're launching new projects and we have to manufacture new equipment consistently. The state has wanted 15,000 units and potential. So we're not very eager to do a corporate buyback. That being said, sometimes insiders, like our Chairman, Arie Trabelsi, have been buying back, and we announce that to the market once in a while. As you could see in the press releases in the last year or two, you'll see some announcements of insiders buying.

We haven't announced a new if you're talking about corporate buyback seven amounts of new ones who've done that in the past all.

All depends on the cash on hand, right now as you see we need our cash because we're launching new projects to manufacture new equipment consistently.

They just wanted to 15000 units and potential so we're not very eager to do a corporate brought back that being said sometimes insiders.

Like our chairman <unk> bye.

Buying back and we.

He announced it to the market once in a while.

Could see in the press releases in the last year or two you'll see someone else's.

<unk> bye.

Jesus Irarrat: Cool. Okay. That's all I have. Thank you very much.

[Analyst 3]: Cool. Okay. That's all I have. Thank you very much.

Okay. That's all I have thank you very much.

Ordan Trabelsi: Thank you.

Thank you.

Operator: Ladies and gentlemen, as a reminder, if you have any questions or comments, please press star one on your phone at this time. There are no further questions in queue. At this time, I will pass the call back to Ordan for closing remarks.

Ladies and gentlemen, as a reminder, if you have any questions or comments. Please press star one on your phone at this time.

Yeah no further.

Questions and Q at this time, our past the call back to Oregon for closing remarks.

Ordan Trabelsi: I want to thank you all for participating in today's call. If you're interested in SuperCom, we are doing big things and making a big impact and we look forward to sharing our progress on our next conference call, filings, and press releases. Thank you, and have a good day.

I want to thank you all for participating in today's call.

Interesting supercomm.

Here doing big things and making a big impact and we look forward to sharing our progress on our next conference call filings and press releases.

You have a good day.

Operator: Thank you, ladies and gentlemen. This does conclude today's event. You may disconnect your phone lines at this time and have a wonderful day. Thank you for your participation.

Thank you ladies and gentlemen. This does conclude today's event you may disconnect. Your phone lines at this time and have a wonderful day. Thank you for your participation.

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