 Hello, everyone. My name is Geron Hezave, and I'm co-founder CEO of Avatronics. If you've ever used a pair of active noise canceling headphones, such as these, you definitely know it does not work on high-pitched noises, such as crying babies or loud or annoying people on the phone. Noise is the modern-day hazard. It's distracting, it's stressing, and it's everywhere. And quiet is the new luxury we happily pay for. But despite the demand and competition, market lacks a solution that's small, low-power, low-cost, does not destroy the audio quality of the device. And it works on high frequencies. We humans can hear between 20 hertz and 20 kilohertz, and this is how the usual noises around us are spread along this spectrum. The best noise canceling headphones, such as these, cancel only around one kilohertz. At Avatronics, we have the first wideband solution that cancels and works on the most challenging part of the spectrum, up to five kilohertz. Since the launch of the company in 2016, we have poor patents. We have developed a lab prototype consisting of our technology built into various audio devices, and we've been talking to seven major manufacturers for licensing the technology. Our business model is licensing, and our go-to-market strategy is going to be continuing direct contact with the major manufacturers in the industry. What we have is a great enhancement to the headphone industry, but in other sectors, such as conferencing and smart speakers, we have quite a novel disruption that because we are the only ones who can cancel the ambient noise and deliver the speech perfectly. The feedback has been unanimously positive so far, and everyone we have talked to wants to see a demo unit consisting of our technology built into their own devices of choice, and we need one million in order to deliver the demo units and continue negotiations to seal at least one deal in 2018. We are a Swiss company based in Lausanne, and we receive help and support from various cantonal and federal agencies. We have a great team on top of a great project and product, and you can see the list of our people here with complementary technical and business background. Thank you very much for your attention. Thank you, Jaira, and thank you so much, and let's move on to questions. How do you think about structuring these licensing deals in terms of, you know, how much would you charge the manufacturers, and what does that translate into cost for consumers? It's a great question. Actually, from the feedback that we have received so far, it really depends on the size of the customer that we are talking to. At the very beginning, we need to have, you know, a startup phase basically in order to integrate what we have into their product and see the results and everything, so there is an upfront fee there, and from there on, based on the numbers of, you know, the headphones or, I don't know, the conferencing units or whatever that they want to sell, we can have a portion upfront and from there on per device, but sector to sector and, you know, a customer to customer, it changes because some of the customers we have talked to are multi-brands and they are active in all of the different sectors, and there is an indication of exclusive licensing and, you know, by some of them, and that would be a larger lump sum. Can you give us order of magnitude numbers? Just, I mean, like, if you were on 10 billion devices, would that be a lot or a little economically for you? No, for headphones, you mean, only? I'm just trying to work out how many devices does your technology have to be on for this to be a big business? The exact number, I don't think I would have the best number here, but, you know, you have the market sizes for, you know, the various sectors that we have here. Headphone by itself is supposed to reach around 24 billion. I know the number. It's millions. Actually, practically, it's millions. More than a euro per device? Well, what we have seen in, you know, in something like the C12 million is only for licensing and we have no cards or anything. It's for like five dollars per device that we want to license. So no more questions. Thank you. Thank you very much.