 There's something strange going on here. We're in Berlin, I think, but we have a Danish photographer and we're interviewing a Danish gentleman called Niels Speyer and we're going to talk about bike squared and I want to ask you to tell us about it. What is unique? What's different? Excitedly. What is really different here? What we've done is that we made the first all electrical e-bike so we're taking the chain out of the equation so we are not pulling on the back wheel with both a mechanical force and an electrical force but only with one force, the electrical. So what's going on is that the use of pedaling is actually pedaling the pedals around like you used to, generating electrical power right here in the crank box. So from that point on everything is controlled by our electrical controller and everything is electric. That means much more control over what's going on in the back wheel as much as it is of force going on in the crank box. That's the counter force that you feel when you're driving. This bicycle feels exactly like any ordinary bicycle to drive but we have all the advantages of having full electrical control over all aspects of it. As you notice on the steering, we don't have mechanical gearings up here since they're no mechanical parts. You don't have to operate some mechanical parts, some electronic parts and mix it all together. You just have completely gearing, a stepless continuous gearing or automatic gearing that's easier. On one side and on the other side you can turn on the bicycle and you're going to tell how you want to multiply your power with the help of the assistance from the battery. That's absolutely amazing. That comes in the category of it's obvious why didn't anyone do it? Why didn't I do it? That's wonderful. We just cleaned up the electrical bicycle and made the polished product. The range like any other electrical bicycle depends on the battery. If you put on a big battery, we get the same range as other electrical bicycles. This is an ordinary battery. No, this is what is for sale, there's a drive system. So this part with the motor and the battery and the interface. We expect our clients to be bicycle manufacturers doing bicycles and make them look very nice. This is just a test bike. It could vary from ones that have pedal X to ones that you only pedal in emergency or something. This very bike we have some community help us using that in a city of Denmark driving around helping people in the city. We have all of three wheel bikes where actually they have extra benefit of not having the straight line from the pedals to the back wheel but you can actually start making different designs of bicycles because you're not constrained by the chain anymore. So it also opens up new possibilities in the bike cycle design. Is it something that you think could be useful in underdeveloped countries as a pedal generator for your computer and lighting? Yeah, it's absolutely possible. It's also possible to use it as an exercise device but that's not the market we're looking into. We want to help people commute, especially commuting in big cities and solve problems with pollution and stuff like that. And we also want to help some people that might not be able to bicycle today to actually do it because they have a better product with a better feeling and more control. Okay, so could you get me really clear about what the benefits are then because I could imagine this might be lower cost. I could imagine it's more reliable. You talked about how it functions rather nicely or more versatile way. You know, you could adjust it so you have to pedal really hard if you want exercise or something. But in the marketplace, have you a feel for what people will perceive as the most important benefit? Yeah, I think we have two sectors here. One is that we have a commuting bicycle which is just nicer because we have one system working in both ends instead of two systems working together so we can make it more fluid. It's really like a perfect automatic gearing in a car when that came in in the 70s and 80s. So we get a better feeling, a better bicycling experience. That's one part of it when you commute to work. And the other end is it could be elderly people. It's more simplified. It's actually nicer to use a little like the electrical hand plane that compared to the old mechanical ones. They don't do anything and they could, someone who's very feeble could be tolerant of that. So that's one end of the spectrum. And the other end is the geometries, the fact that you can suddenly make different bicycle designs. So then again, bicycle manufacturers designing bicycles for handicapped, for example, with a low entrance point or three wheels where you, then you have suddenly have other possibilities of making designs adequate for people with different needs. No, that's absolutely. And I think that breeds on to other things. We at ID TechX, we're analysts. We travel our lives away and we've recently, for instance, been in Japan. We go there often. We've got Japanese office. I interviewed the man who's set up Terra Motors and he is largely doing it on a charitable basis. But basically he thinks that three wheelers can be modernized. And he's got people now in Bangladesh, India, all over the place. And the figures are amazing. That's huge. I mean, in Bangladesh, he says his people have got statistics that they are importing half a million from a electric pedal three wheelers electrically assisted a year as taxes. You know, it's the tuk-tuk alternative that's electric. It's the equivalent of an electric rickshaw. But they're basically this sort of hub motor. I mean, even in London, it's been an empowerment thing because they've got a slip of a girl peddling four fat men around London as a business. And she couldn't be in that business before. But now, thanks to an electric drive, she can be. So India, they Terra Motors were saying the number of polluting tuk-tuks to be replaced is about five and a half million a year. And in the Philippines, it's about 3.2 million total, not a year, but the massive speed list. So would you think that you could contribute something to that world where it's three wheels, not two? I mean, it seems to be the same thing. Well, I think that three wheels is definitely part of the market, the small rehire, maybe even colored vehicles and stuff like that. But the place where we can contribute is to get more people commuting by bicycles, making it easier to approach this kind of product without being a cyclist. It's getting like a household wear, like your blender in the kitchen and stuff like that. You acquire it in the same way. This thing should be the three, you know, the hire bikes. They have them in Berlin, don't they, that are electrical, but this could be an advance on that. But where I come from, London, they're not electrical, they're just pedal bikes. They're very heavy ones. And so it means not many people can, well, they're very popular, but we copied Paris, they did it first of all. But they have a limitation for people that are not very strong. A very important advantage we have in that case is that without all the mechanical parts, we have much less maintenance. So especially if you want to use it as a fleet bicycle, you don't, you need all that maintenance, people driving around, putting oil on the chains and repairing it. So that's a big deal for us, the maintenance part, when we sell fleets. Of course, yes, absolutely, excellent. And if it were, yeah, if it could be dismountable as, or even in that form used as a generator, come in, there's no reason why it could be used as a generator, so you can disconnect those connections and put it into something else. Excellent. Oh, that's very interesting. Well, wonderful. Good luck to you. Marvelous. And so you're really an intellectual property company, or you're selling the actual device, but you're not going to sell the bicycle or the water. Yeah, we actually found out that we need to get our clients up and up and driving the bicycle. So when we thought we were just selling the device, we have to sell some bicycles so they can get up riding the bicycle very fast. So that we were doing in the start, but for our core business, we sold this one with a battery and the motor. Nice. Very nice indeed. Well done. Congratulations. Absolutely excellent.