Q4 2022 Neonode Inc Earnings Call
Speaker 1: into it. For new followers and listeners to this presentation I want to just give a brief update on our business strategy and this is a combination of technology licensing and product sales. So we work today in two business areas.
Speaker 1: One where the focus is technology licensing.
Speaker 1: Looking at our current customers, they include printer manufacturers and automotive Tier 1 suppliers.
Speaker 1: and also some other customers.
Speaker 1: We work here with two technology platforms. We call them Z-force and multi-sensing. I will give examples of applications in the next slide.
Speaker 1: Whereas, on the right side we illustrate our products business where we target customers in the elevator and interactive kiosk segments with our touch sensor module products.
Speaker 1: Key application areas.
Speaker 1: and what we are working on in our day-to-day operations.
Speaker 1: In a licensing business, it's a lot of focus today on head-up display obstruction detection and also interior controls
Speaker 1: This is something we base on our C-Force platform and we use our multisensing platform to work on driver and in-cabin monitoring solutions and features.
Speaker 1: In our products business we mainly work on contactless touch.
Speaker 1: either touchless touch on displays and other surfaces and keypads, keyboards and buttons.
Speaker 1: or holographic touch. So with our touch sensor modules you can make holographic display images interactive which is quite futuristic and cool we think.
Speaker 1: We also work on rugged touch and gesture sensing with the TSM products.
Speaker 1: Recently, we updated our website quite fundamentally and now what you will see there is different illustrations and descriptions that underline and reflect our strategy. Please visit www.neonon.com
Speaker 1: and check out the nice contents that our marketing team has added to the website recently.
Speaker 1: What you will see is
Speaker 1: that we do a lot of sector-based marketing.
Speaker 1: And this is to support our growth strategy. And especially if you look here to the left.
Speaker 1: In the first step we have a very very strong focus today in several of our businesses to establish beats heads in important segments and markets. Everything we do in marketing and sales and also product development is aimed at supporting this strategy.
Speaker 1: We also work with proof of concepts and different types of demo projects to also further show and demonstrate the value of our technology.
Speaker 1: This is very, very important and we follow this beachhead strategy to break through in key segments so that we later can focus on scaling up. In some of the segments we are active, we feel that we already have achieved the breakthrough and we have established beachheads. One example is elevators.
Speaker 1: and also certain sub-segments of the interactive kiosk market.
Speaker 1: But in others, we admittedly still are working really to establish the beach heads.
Speaker 1: So, this is the clear strategy that we have been following for some time, we have refined that and we believe that this is really now the right way forward for us.
Speaker 1: and more regarding marketing. During the second half of last year, especially during the fourth quarter, we are glad that we could again start to travel and join physical live events.
Speaker 1: And as you will see here some examples.
Speaker 1: from automotive events in Detroit, in Munich and also a virtual event in China that we joined during November . They all focus on head-up display, obstruction detection, interior controls and driver and in-cabin monitoring. We also attended JAP and BUILD, which is focused on PropTech.
Speaker 1: And this is different aspects of interactive kiosk applications that we showed here together with partners. Very, very interesting and successful event for us with huge attention to our different offerings and our partners' products.
Speaker 1: In line with this, we were as late as last week part of retail tech in Tokyo, Japan, also with great attendance and a lot of appreciation from people visiting our booth and taking part of our different solutions and our partners' different products on display.
Speaker 1: So, this is where we are today and a little bit short summary and overview of our business strategies and what we do in terms of marketing and sales.
Speaker 1: I will come back in a short while but now I want to give the word to Fredrik Niellen, our CFO .
Speaker 2: Thank you, Urban.
Speaker 2: You can find our 10k and earnings release if you visit our investor section on our webpage Nino.com. I will in this presentation just summarize the key highlights. I will also say a few words on financing.
Speaker 2: Total revenues for 2022 was 5.7 million. It is a decrease of 3% compared to 2021.
Speaker 2: We saw a slight decrease in license revenues in 2021 compared to 2022 compared to 2021 and this is due to component shortages within the automotive and printer industries which affect our customers and hence affecting our license revenues.
Speaker 2: However, we saw a recovery in the second half of 2022 in license revenues.
Speaker 2: For products revenues we reach 995,000 in 2022.
Speaker 2: That is an increase of 4% compared to 2021.
Speaker 2: Also here we saw a recovery in Q4 on product revenues. However in 2022 we are still affected by lockdowns in Asia and we are also affected by long-term
Speaker 2: development and launch cycles at our customers.
Speaker 2: Cross margin for 2022 was
Speaker 2: 22% that includes a one-time effect of right panel obsolete stock in Q4.
Speaker 2: Adjusting to that we would have a gross margin of 51%.
Speaker 2: which we think is a good level.
Speaker 2: operating expenses.
Speaker 2: was 10.2 million for 2022. That is a decrease of 15% compared to 2021.
Speaker 2: The main reason is that we have cost control but we are also helped by the weak Swedish currency.
Speaker 2: As I stated in the last earnings call, the majority of our costs are in Swedish krona.
Speaker 2: Summarizing 2022 in a P&L, we had a net loss of 4.9 million compared to 6.5 million in 2021.
Speaker 2: And that is as I discussed in previous slides.
Speaker 2: less operating expenses but keeping the revenue at approximately the same level as 2021.
Speaker 2: Net cash burn in operating activities for 2022 was $6.8 million. That is a decrease of 11% compared to last year.
Speaker 2: We had a cash balance and a accounts receivable balance.
Speaker 2: of 16.3 million as of 31st of December 2022.
Speaker 2: There is a decrease of 2.4 million for a year.
Speaker 2: I will now just say a few words on financing.
Speaker 2: During October to January , October 22 to January 23, we selectively used our ATM facility.
Speaker 2: and we raised net proceeds of 12.6 million.
Speaker 2: to an average price per share of $7.24.
Speaker 2: The 4.7 million we raised in Q4 are a part of the balance that I talked about in previous slides but we increased also the balance by adding additional 7.9 million on net proceeds in January 2023.
Speaker 2: We think that the improved cash position will give financial stability to execute on our strategy.
Speaker 2: And to give some more color to this I will give the word back to Uba.
Speaker 1: Thank you very much. So in the rest of the presentation I want to spend some time here to discuss current status and the plan going forward.
Speaker 1: Thank you very much. So in the rest of the presentation I want to spend some time here to discuss current status and the plan going forward. To tie in what Fredrik said.
Speaker 1: Our sales revenues were more or less on par with those of 2021. I must say that
Speaker 1: It's not bad, but we are not satisfied and we are working hard to improve that and grow the business.
Speaker 1: and indeed
Speaker 1: We are very optimistic about our ability to really turn this around and create some significant growth. And we also have...
Speaker 1: during the last year created strong interest in several of our solutions that we offer and we have several very promising opportunities in our sales founder currently that we're working to capitalize on.
Speaker 1: Plan going forward.
Speaker 1: We believe they have a good strategy and also strong finances that together put us in a good position to significantly grow our business this year and the coming years.
Speaker 1: We are adding resources to our global sales team.
Speaker 1: to support growth in key sectors and markets. We are also expanding our network of distributors, value-added resellers and other partners.
Speaker 1: for a broader reach and a quicker market penetration.
Speaker 1: Regarding marketing, we continue to build on our brand and marketing platform to drive sales. We will increase the focus on physical demos, POC projects and also physical events.
Speaker 1: quite significantly. Of course this draws some resource but again given the strong cash position we want to use this now to leverage the technology that we have developed and the IP that we have in the company.
Speaker 1: We will also continue to work a lot with digital marketing campaigns and the key point as shown previously in this presentation to show the value of our technology. We believe we have a very very good technology base and an IP base in the company.
Speaker 1: And a key issue for us is to show the value and demonstrate the capabilities of the technology and of our team, how we can support customers and add value. Moving over to engineering, we continue to invest in product development to improve the added customer value we can bring.
Speaker 1: with our products and solutions and also to broaden our offering. We will share more details on this in later earnings calls.
Speaker 1: this spring and after the summer.
Speaker 1: To support these efforts, we are not only investing internally with our own staff, but we also are engaging with some external engineering firms and other partners to shorten our time to market and increase our general development and manufacturing bandwidth. All aiming upwards and forwards.
Speaker 1: are involved in.
Speaker 1: some detailed discussions currently with a couple of such customers that we hope to capitalize on in the near future.
Speaker 1: Very, very promising and interesting. Another area which draws a lot of attention in our company and also from several different customers is head-up display obstruction detection. And we have here a very cost effective and good robust solution to detect foreign objects on
Speaker 1: Head-Up Display Projectors.
Speaker 1: that may obstruct the image and cause a safety hazard.
Speaker 1: And this is not acceptable neither by legislators nor by vehicle manufacturers. So therefore we need for this type of systems in modern vehicles also technical means of detecting this type of disturbances.
Speaker 1: And we have here a very good ready solution that is drawing a lot of attention from several customers.
Speaker 1: I mentioned also in the previous slide that we work on interior controls and one example is we work with a French company called Epic and POC.
Speaker 1: who are developing and selling rapid prototyping, design studio solutions, and we are together with them developing and launching different features on our touch sensor modules and also our other offerings.
Speaker 1: and just an example how this cooperation is playing out. So we co-exhibited with the PIC and POC at CES in Las Vegas in January this year. Very successful, a lot of attention to their solution and also our contribution there was significant. So we are very very glad of this cooperation and think that this is one way for us to reach new customers.
Speaker 1: mainly in Europe but also in other regions. We continue to work in our products business with elevator customers both elevator OEMs and companies developing and selling elevator control panels.
Speaker 1: In the elevator industry, it's common that the companies work both OEM, meaning selling new equipment, and also in the aftermarket selling retrofits and upgrades and simply do service.
Speaker 1: maintenance services for elevators.
Speaker 1: maintenance services for elevators.
Speaker 1: Interactive kiosks come in many different shapes and forms. This illustration is a particular kiosk developed by Maxell that I launched at Maxell Aquapark in Tokyo. It's a very nice example of a holographic interactive information kiosk.
Speaker 1: where visitors to this aqua park can themselves browse and see small video clips and other information, sharks for different types of fish and animals in the sea.
Speaker 1: This is a very nice graphical example, but of course there are many, many other types of kiosks that we also support with our touch sensor module products.
Speaker 3: Yeah.
Speaker 1: related business still
Speaker 1: related to our touch sensor module business is Medtech.
Speaker 1: where we have actually a long cooperation with a Swiss company called Elex Systems that have developed a solution for medical imaging.
Speaker 1: actually a long cooperation with a Swiss company called Elex Systems that have developed a solution for medical imaging systems.
Speaker 1: Here in particular, quite big program with a leading MedTech OEM that here have equipped an ultrasound system.
Speaker 1: with our touch feature.
Speaker 1: that adds functionality and adds value to their otherwise very, very high performance system.
Speaker 1: So now nurses and the doctors doing examinations using the Antrosan device and typically having gels on their fingers and using gloves when they do these
Speaker 1: studies, they can then zoom and point and click to the screen like you prefer to do for quick handling and ease of use. So we add a lot of value both for the manufacturer of these systems who could add touch to their existing system and then to the end users, the nurses and the doctors that have a very very robust fast and accurate system.
Speaker 1: retail and prop tech and retail could be anything point of sales terminals, self-checkout terminals and similar and the prop tech includes everything from elevators, it could be entry systems, alarm systems and other control panels for buildings. These are three examples of sectors that we will focus on going forward and in med tech we see simply 23 slightly higher quality products like Bitcoin and
Speaker 1: several use cases where we have outstanding offerings that brings a lot of value to both the buying customers and the end users.
Speaker 1: in the hospitals and also for patients and visitors to the hospitals.
Speaker 1: So, there is a strong overlap with interactive kiosks here, but we also see that there are some particular requirements that we can meet and that we are now working to show different customers. Here, we will also come back in later earnings calls to share some more updates.
Speaker 1: overlap with interactive kiosks here but we also see that there are some particular requirements that we can meet and that we are now working to show different customers and here we will also come back in later earnings calls to share some more updates.
Speaker 1: Drawing closer to the end of this presentation I promised to give some comments about the ongoing patent litigation versus Apple and Samsung and we have one slide here and I will basically only comment on the fact regarding our agreement with Equitas.
Speaker 1: So as many of you know we have an embedded call option as we call it associated with our patent agreement with Equitas Technologies LLC.
Speaker 1: Equitas is an American-based technology licensing company and in 2019, NeoNode assigned two patent families related to old smartphone technology to Equitas for monetization.
Speaker 1: The agreement states that we will get 50% of the net proceeds if Equitas succeeds in monetizing the patents.
Speaker 1: And what I want to underline here is that net proceeds should be understood as the gross proceeds, less out-of-pocket expenses and legal fees.
Speaker 1: The agreement with Equitas is available on
Speaker 1: SEC's website and also you can find it through our website. If you look at our 8K filing from May 2019, you will find the agreement in full and can there read all the terms and conditions.
Speaker 2: In June 2020
Speaker 1: neonote smartphone LLC this is a subsidiary of Exodus and having no direct link to us
Speaker 1: other than the first part of the name.
Speaker 1: They filed two patent infringement lawsuits, one against Apple and one against Samsung.
Speaker 1: and these two litigations are still ongoing. The Apple case has been moved to district of Northern California and the Samson case is still in the western district of Texas.
Speaker 1: I want to underline also finally our role in this.
Speaker 1: finally our role in this our role in this is
Speaker 1: to be the owner of the regional patents that we transferred in 2019 to Equitas.
Speaker 1: We have no insight into or influence over Equitas operations and in particular we are not involved in the lawsuits against Applin-Samson.
Speaker 1: The good thing here about the whole arrangement is that we will not bear any costs associated with the ongoing litigations and we are not exposed to any risks because of them. And this is the whole idea behind this arrangement and the neonates board in 2019 therefore entered into this agreement with Equitas.
Speaker 1: Still we appreciate that many find it very, very interesting to both study and discuss and speculate about this, but we stay with this.
Speaker 1: these facts and these descriptions of the actual events that have taken place from 2019 until today.
Speaker 1: Basically, that is what we can and will communicate around these patent litigations.
Speaker 1: Thank you very much. This brings me to a final...
Speaker 1: concluding remarks slide.
Speaker 1: slide.
Speaker 1: As Fredrik has presented, our sales revenues for 2022 were 5.7 million US dollars.
Speaker 1: Similar results as in 2021. Net loss decreased and was 4.9 million and that's due to mainly very, very tight cost control and also favorable exchange rates.
Speaker 1: And net cash used in operation activities was 6.8 million and this is down from 7.7 million in 2021.
Speaker 1: We continue to see strong interest in our TSM products and our C4s and multi sensing technology platforms.
Speaker 1: And we will use our strong cash position to drive growth through investments into sales marketing and new product development. So we look very positive to the rest of this year and also the coming years. And we believe strongly that we will be able to grow our business significantly.
Speaker 1: Thank you very much and now I invite Jesper up for Q&A.
Speaker 4: Thank you very much for that.
Speaker 4: All right, so let's start with the strong product sales of the quarter, which was many times as high as previous quarters. Let's just explain the reasons behind this.
Speaker 1: Of course, as in many cases, it's a combination of different effects that work in our favor, but if you look.
Speaker 1: at what we can control. We had some serious efforts and we did a strong push both in Q3 and Q4 to really drive sales. So that's good work by our team to really influence many customers to take the step to place orders and we are happy for that.
Speaker 1: We also got help because situation for instance in China and other Asian countries started to normalize during the second half of last year and I think that helped. And also in Europe we have some good customers and partners that we were able to get new businesses with.
Speaker 1: and together that gave a very positive end to the year for the product's business.
Speaker 1: I would also say that second half and Q4 was positive in our licensing business and then some new projects that brought in NRE revenues, so for non-recurring engineering services.
Speaker 4: we could invoice several customers during the third and fourth quarter which also contributed. Good, and if we stop at the product sales there, was it more from the retrofit business or was it from new sales?
Speaker 1: I would say that some of the bigger orders that customers place with us were for new equipment.
Speaker 1: but we also have a healthy portion of retrofit businesses, but they tend to be smaller. Several orders, but smaller. So we have a balance. I don't now have from the top of my head the exact balance between retrofit applications and new equipment, but I believe that the majority of the bigger orders they were indeed from.
Speaker 4: different customers placing not huge orders because then we would have presented even stronger numbers but still decent volumes came in from several customers so that we were glad for. Regarding the license side and especially the NRE revenue there.
Speaker 1: with OEM customers, meaning vehicle manufacturers directly.
Speaker 1: and with some Tier 1 suppliers.
Speaker 1: And in fact we have customers in all three main regions, Asia, Europe and North America. So we have contributions there and it's for these two main topics that I've stressed here in this presentation and also in previous presentations.
Speaker 1: driver in cabin monitoring on the one hand and head-up display obstruction detection there so we see most activity today and most interest and
Speaker 4: I mean, there has been a lot of activity on the RFQ side, on the driver monitoring side there.
Speaker 4: Can you say anything about how close you are to being able to present anything there, like the results of RFQs? We think we are very very close. Of course it's under NDA and it's sensitive, but we think that we have very very good chances of winning some new businesses here in the near future.
Speaker 1: We also know and appreciate that there are many competitors, many strong competitors in this field. But still I can share that we are encouraged by the feedback we get when we talk to different, not least OEM customers that maybe have already...
Speaker 1: chosen a certain other supplier for the first wave, but then for different reasons they're looking for a better alternative. And then we have found some...
Speaker 4: interesting prospects that we are now entertaining. Okay good. And is this for any specific region would you say?
Speaker 1: That's it.
Speaker 4: would be to disclose too much. Okay, okay. Alright, and also for the head up display is that...
Speaker 4: What's the status there if you compare it, like the timing of RFQs for that compared to like driving monitoring systems? It's driven by a few premium vehicle manufacturers that are betting hard on head-up displays in the future.
Speaker 1: and they are looking to change the cockpit inside the vehicle and having maybe less of the traditional instrument clusters and big displays but instead having more of the information projected onto the windshield.
Speaker 1: in different types of arrangements, but some will project more in the field of view, some at the bottom of the windshield. And if you then remove, as some of these OEMs are planning, to remove the traditional instrument cluster to free space for space in the...
Speaker 4: and similar regulations in both China and US. All right. And can you say anything about the prospective, like average selling price per vehicle for that kind of solution?
Speaker 1: In our case, we talk about technology licensing and we have significant revenues from automotive customers today with our C-Force platform and indeed this will be another application of C-Force. So, we talk about
Speaker 1: some dollars per vehicle and that's very very interesting because often in automotive the programs run in very very high volumes. So we hope that this will significantly contribute to our future license revenues but of course there is very long now
Speaker 4: sales, development and launch cycle that we have to work through. And everyone should be aware of this that we are perhaps talking about 2.5 to 3.5 years until we get additional license revenues from these type of projects. So, possible revenues around like...
Speaker 4: late 2025, 2026, something like that. All right, good. And, I mean, you generally speak with quite a high optimism about 2023, like ramping up revenues and so on. And also in our last conference calls, you anticipated that.
Speaker 4: you will use your inventory that you had then for the next like 16 to 24 months. You talked about components inventory. Yeah, exactly. So, how do you see 2023 like rolling out sales wise?
Speaker 1: In our products business we certainly think that we can do much better than the previous year, which was indeed quite similar to the year before.
Speaker 1: So we are optimistic and we are confident that we can start to see some steps forward. We have also decided to develop some new product variants.
Speaker 1: to broaden the portfolio because we think that we have established now some good sales channels in different markets.
Speaker 1: that we can use to sell additional products through the same channels. Sometimes our direct sales efforts or via partners. So we are doing different steps here every week basically to try to drive sales both of the existing products and of new.
Speaker 1: So, and we have to improve because we have set very ambitious targets for the company.
Speaker 1: My team and together with the board of NeoNode, we work really hard every week to make a difference here and to break out of this single digit million dollar type of turnover that we have had the last years. I think this company deserves much more and the technology is...
Speaker 4: certainly capable of driving much higher sales. So this is what we are working on and really fighting to achieve.
Speaker 4: I guess the typical arrangement is that you would get like NRE revenue before you onboard into a new licensed sales program. So it is hard to assume that we will see the NRE revenue before you ramp up significantly there.
Speaker 1: Yeah, actually I'll try to explain but I can repeat that and I know that you are well aware of how the automotive industry works
Speaker 1: So, if you are successful with certain RFQs this year, we can expect NRE revenues to ramp up for this next maybe two years.
Speaker 1: And that only when the underlying product, meaning the new vehicle or the new platform goes into mass production, this is when we start to get royalties from the licensing. But that NRE part can be significant because it's...
Speaker 1: very time consuming and draws a lot of effort from both the vehicle manufacturing and all the suppliers to develop, test, validate and launch a new vehicle platform.
Speaker 1: And of course we are there to help and our ambition is always to have at least break even during that development phase.
Speaker 1: for the efforts we do to support both the Tier 1 supplier and the vehicle manufacturer to realize whatever ideas they have using our platform.
Speaker 4: Sounds good. And then, I mean, now regarding licensing sales, you talk basically only about the automotive segment. Previously you've talked about a potential large customer in the military, for instance. Can you say anything about the status there? Yeah, so in our team during last year we have.
Speaker 1: sort of focus step by step more on the high potentials and those we find in automotive simply more interesting because of the higher volumes. Indeed we still have quite strong interest from military and avionics companies and also medtech.
Speaker 1: And we are trying to explore and exploit these interests that we get from different directions. But honestly, we are a small team, a small company, so that's why we focus. And also in our communication we are very, very clear that the main focus is automotive.
Speaker 1: And now I can underline that in our products business we will think more like sector based. Again I repeat that we will talk more about retail, prop tech and med tech as three very interesting segments in the products business. Maybe together with hospitality where you can include travel and...
Speaker 1: hotels and restaurants. So sector-based marketing, sector-based sales and to some extent also adjusting our technical offerings.
Speaker 1: to each sector and the specific needs. So we think that's the model going forward for NeoNode, both in our licensing business and also in the products business.
Speaker 4: All right, and I mean both in Q4 but also in January you stated in the report that you've used the ATM to some extent. I think it was about 900k new shares in January and then...
Speaker 4: all 800k or something like that in Q4. Could you just state where you see yourself financially, Frederic?
Speaker 2: We are in a strong position now and as I said in the end of my presentation, we have this ability to execute on a strategy now.
Speaker 2: And that we will do as Urban said later on in the presentation.
Speaker 4: And regarding that, is it fair to assume that that statement is...
Speaker 4: the same thing as like with the cash position that you have now, you expect yourself to be able to reach a breakeven with that amount of money.
Speaker 1: That could be one scenario, yes. But another scenario is that we start to have really good traction in the business and then we decide to maybe invest more. But in one scenario we can run now and operate in a similar way as we are today.
Speaker 1: And indeed, that could be a very interesting trajectory to break even. So right now we do not worry about running out of cash. Indeed, we want to be more aggressive and increase our spending compared to last year. And then we'll see. Together with the board, Fredrik and I, we are constantly...
Speaker 1: checking how things are developing and we can make very quick adjustments.
Speaker 1: to tighten a little bit or to give a little bit more gas on the accelerator. So this is how we will use it. But we are in a very good position, we think, and it gives us now freedom to really focus on driving growth and developing the business.
Speaker 4: and this is what we are doing and that's what keep us busy every day. I can promise you. I can imagine. But as a follow-up on that, is it fair to assume that, I mean, if the product sales of TSMs, if that accelerates a lot, then you would have to invest more in that.
Speaker 4: kind of area, but if product sales does not drop up, but license sales does.
Speaker 4: that would mean like you wouldn't have to invest as much. Yes and no. You know, the licensing business for the first year, we talk about a lot of automotive but also military and medtech customers. Typically we'll always have long development cycles and long cycles.
Speaker 1: that will be engineering intensive. So we would need engineering resources to manage growth there. But then you're right, then it scales very nicely because it's a classic royalty model and if you focus on high-volume programs that can give you a good leverage after mass production.
Speaker 1: In the products business it's more complex, then we will have some Capex investments and also investments into components and operating expenses, traditional operating expenses. So that will tie up more capital for sure. It's also a question of how we drive the sales and if it's through our own channels or through our own network.
Speaker 1: better results for NIANO. So going forward we will use that cash position to try to strengthen our presence.
Speaker 1: in the different arenas where we are today promoting our products either
Speaker 1: alone or together with partners. So you will see more neonode in these key markets and segments. And again, I was talking about
Speaker 1: We will join more physical events, we will do more marketing.
Speaker 1: We will travel more, we will be waving the neonode flag and interacting more directly with customers That's why we need to then hire some additional headcount to our sales team. Some here in Stockholm, Sweden already hired three actually last week and we will hire some more also internationally.
Speaker 4: All right, sounds good. And then we will see if we have any additional questions from other analysts.
Speaker 4: All right, then that's all for us and I'll leave some final remarks over to you, Erwin.
Speaker 1: No, thank you for your attention and continue to follow us. Please log into our website, neono.com and read everything there. I think you will find a lot of interesting content there. Thank you very much.
Speaker 1: No, thank you for your attention and continue to follow us. Please log into our website, neonow.com and read everything there. I think you will find a lot of interesting content there. Thank you very much. Have a nice day.
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