 So, hold on a minute, guys. Thank you very much. My name is Nikolai. Hi. This is my colleague Tina. Hi. And we are a startup in Taiwan. I'm not sure. We're extremely happy to be that. And we'll just explain a little bit about what we're doing. Sure. And a challenge that we're facing due to, I think, unforeseen circumstances. Okay, please do. So, we are a POS system, a startup, all based in Taiwan. We are a misfit of a lot of different nationalities that are all connected to Taiwan. We have an exchange Taiwanese. We have a Chilean Taiwanese. We have an Indonesian Taiwanese. We have a Taiwanese Taiwanese. But we all have different backgrounds. And we all come from Taiwan because we love this wonderful island. And we want to make this a better IT nation than before. I have an education engineer in Denmark. Worked in the U.S. and in the U.S. And I saw a potential in Taiwan that we could become a little better at building IT services. Three years ago, I decided to build a system that could help restaurants, especially small businesses, restaurants, cafes, arts. Is there a name for it? It's called Q-Technology. Q-Technology. Q-Technology. A British Q. It's very Q. Okay. And we have announced 60 customers around Taiwan. And we have a different approach than a lot of our other competitors. One is that we have to be more affordable than anyone else. We are proud to say. We need to be running an existing hardware. A lot of our competitors, we will need to buy specific hardware from Epson or from Starnacronic. We want to keep it open so people can come to their own hardware. Because we are a software company, not a hardware company. And unlike any of our competitors, we can run on iOS and Android. Okay. Phone and tablet. Okay. We have customers who don't need to invest in any new hardware to start becoming using a POS system. And they can use their phones. They can use some very old Android tablets, which fortunately are haunted. So again, we can save kind of cost on hardware for new businesses, especially if they want to start working. We are a jazzy junction. Meaning we can issue Jensen Papia on behalf of our customers, which is a long and interesting process. We haven't talked more about that. We don't want any feedback about that. And we're happy that we have a lot of customers who can then cut down on the cost. That's good for us. We run everything in the cloud. Meaning we don't have a lot of server cost compared to if we had to host everything in the software. And we build a lot of phone technology on an open server software. So that's a good part. Which open server part? So our main stack is React Native. So that makes it easier for us to support Android and iOS. And we have a mobile-first approach. Meaning we design everything to work on mobile. And then we make sure that the text is open. So it's not that your software is open, so it's built upon? No, it's built upon open source. But we think in a way, we want everyone with any cell phone to be able to have a POS system with full capability. So we don't differentiate it from the tablet. You can find it on App Store or Google Play. Yes. What do I search for? Q, POS. Q, U, E, E. Yeah, sure. Q, POS. Q Technologies. Yes. That's us. OK. That's awesome. Yeah, please. Go ahead. And yeah, we're serving about 60 customers now. Of course, being a startup is tough to introduce new customers. But we serve not only the local mom and pop shops in Taiwan, but we're happy about it because we have more affordable price. But we also are pretty strong with the expat convenience in Taiwan because a lot of people in Taiwan don't speak or at least read Chinese. So our interface from the very beginning, also due to my poor Chinese, is more simple. So on the staff level, individual staff level, you switch between English and Chinese. And of course, since we have Spanish speakers, we now see Danish speakers, Indonesian speakers, we want to build this to be able to export to places around the world. So let's wind up. This is all available in the app stores. But Taiwan is our base. And we have Jalsa Dungeon. And we're really excited about that. OK. Yeah, that's great. That's great. So next time, people complain about not having billing war solutions that someone can refer to you. Absolutely. And say, why not? Exactly. That's a great thing. We take, of course, and we care about the mood. We take interns from the universities to help out if they want to learn a little bit about coding and time script and in recognizing. And they seem to be excited about that. We build everything. We design and build everything in Taiwan. We have support in Taiwan. Everything's right in Taiwan. We're a very small team. We're fully boosted, meaning we haven't taken any external funding, no government grants, no nothing. And now, of course, I guess we should get to the part where this becomes a challenge. So the chair should... That's you? That's me. That's me, yes. That's my Chinese name. So my father's Taiwanese and my father's Danish. Okay, okay. And the oversight, Zhong Zhi Xi, is representing another company, A-D-Yao or something. A-D-Yao. Yeah. So I was just looking at your Dongjian Shi Ming. Oh, A-D-Yao. Yes, A-D-Yao. So A-D-Yao is my good friend and partner who has a 50% stake in the company. Okay, so it's just two of you. Yes, exactly. Awesome. So that's where we are. A-D-Yao is building, by the way, a really nice coffee room. So you're here to the Wuxian office space as well. So come by and have a coffee. That's awesome. That's really nice. Awesome. Okay. So how can I help? Yes. So we, in the last couple of months, have been approaching new customers. We know it's a difficult time for everyone and our customers are struggling as well. Yeah. And new customers are the first thing, they love our product, which is good and we're more affordable than all our competitors, which is also good. But they bring up a very important point and then they ask us, do we, do we apply, do we qualify for the subsidy for digital transformation? And then China can go into more details, but what we think is, inside of first China, we think it's a bit unfair. But you're looking for companies with more than three years history and it will not be until June, that you have a three-year history. Correct. That's one thing. That's one step. Yeah. But three, it's not three years. It has a period. You can say that your users' achievements have been supplemented for three years. It's not three years. It's really not. But... Because supplemented for three years, I don't see that cost, a period. When I look at the supplemented for three years, it looks like it's really not three years. What do you mean? Because there are many on the list. It's not three years. It's not three years. But because it doesn't have a three-year period, it has a period. That means you can pay for it. I don't see a three-year period now, but anyway, go ahead. Correct. Because it has a period, so it doesn't have a three-year period. But the profit... Is there a period in supplemented for three years or is there a period in supplemented for three years? Yes, it has a period in supplemented for three years. Yes, it has a period in supplemented for three years. I didn't see a three-year period. I... Anyway, it doesn't matter. Okay, go ahead. But it doesn't have a three-year period because it has a period. So you can't... Oh, you must have 5 million. If you don't have 5 million, you won't be able to afford it. Correct. So you just need to get the supplemented for three years, right? It's just that there's no other way to get the supplemented for three years. And then... Okay. Correct. And then it also... Its supplemented for three years and the supplemented for three years until today. Okay. But this plan is for three years. Okay, okay. So you can't get the supplemented for three years today? No way. That's 3.2 million. No way. And then... If your... Your... The person in charge is an outsider. You need to go through the investment. So the time you're making is much longer than in Taiwan. Of course, the investment... But the investment will return to the investment. This is two things. Correct. That is to say, what you want to ask now are actually two things. One is that after this, there's no more chance, right? Correct. Because if there's a second step, for example, after half a year, you spend half a year and you slowly touch it. How is it? Or do you persuade it to change the number? That's all you can do. Correct. So if you just think after this step, there's no... If the uncertainty is too high, then you have to complete it today. That's impossible. Okay. At the end of the day, our problem is we cannot compete even though we have lower prices and a better product. If people get something for free with a higher price, because they subsidize up to 30,000, some one, some one, five, one, I believe. Some one. So our competitors will charge around 25,000. Where we charge with no five, yeah, 11,000 a month. But even our 11,000 dollar price, sorry, here is still more expensive than zero. So we, of course, all we ask for is some sort of solution to this particular problem. Because a lot of companies are going to face this. And had we known initially that we would need to put in five million to qualify for the living, for the playing field to be level, that would have been fair. But we just feel a little bit of a limbo where we could go out and raise additional money just to reach a, or we find slightly arbitrary limit of five million. Well, if you offer your equity by technology or by labor, which are all allowed in the company act. Because it doesn't actually say that you have to do a shishozebaba, right? It could be shishozebaba. So which is easier. But anyway. We cheated a little bit before we came here because we wanted to be absolute shishoze. We actually did try filling the application to qualify for the substance. Because we wanted to come here and know that it's not possible. Okay, okay. Even though we didn't feel we qualified. And we did get rejected. Oh, yes. Yeah. And it's not under your two new brands. It's under Zidane brands. Right? When you were... So both? Okay. Most. Well, I mean, if they... So I really don't see an exception clause on shili. It doesn't mean you shop anywhere on the website. So it has to be internal law or something. So, but in any case, in due time, like in two months, it will be shili. That's an issue. Like that. That's automatically solved for you. Right. But we could not see that this would happen again because we fully support that we want to be able to help with digital transformation. Sure. We want to make sure when the old Fabian machines, which should have been phased out for a couple of years now, when they're fully expires, we want to be able to use everyone to give out pop-tops just using their phones. Sure. But of course, until then, we still need to be able to at least compete in a meaningful way. And just now it's hard for us to explain that we don't qualify and that people can get it for free with government subsidies with a bigger, much more established competition. Right. But I mean, there's nowhere in the Yaotian that says that there's only one call for providers. Right. It always says is that within the Sholi and Xiqian, within the reception, the call for proposal time that you can you can apply. But I mean, what you're probably trying to get to is that by the time that you're like fully three years old, put the into most time or afterwards, like in three months time or something, if there is another window of Sholi and Xiqian. Right. That makes life easier for you because you don't have to say extra things about your Chengli and Xiqian. Right. And then you can probably try to get five million and the dollars if you have three or four months time. I mean, we could, we just feel it's unnecessary because it's pretty arbitrary. I fully concur. It's not arbitrary. But if they say if I was you and that's for the arbitrary. No, no, of course. No. If I can be absolutely honest with you, I would prefer there was no subsidy. Of course. Because then at least everything would be fair and we could just offer what we think is a better product. That's not the case right now. The problem is a lot of companies, not just us, would be in the same situation where just because we are younger, we happen to be bootstrapped, we cannot compete with the bigger established companies that happen. But I'll be honest with you too. I mean, this idea of three-year plans, basically, there will be some service providers that turns out to be not a perfect fit for this plan. Right. For various reasons that you cited. Right. So what's important is that there is a kind of mechanism to review the service providers. If most of the matchmaking turns out to be not a good fit, then maybe we look at the service providers and say, you know, these are not the best fit after all. Right. So all this is actually within the Yaogian. Right. So it says that, for example, Angel Shi Zi Tui Dong Xin Xin, so basically how it actually goes about if there's a lot of shops that actually start using this digital provider, then maybe the provider will be limited. Right. Like if you sign up for a fight and all five don't like you, then maybe we cap you at five and you can't get the six anymore. Right. So that's what within the Yaogian. So that means that there's plenty of room then when something like that happens for new providers to enter this program because, well, there's still a vacuum out there and there's a three-year plan. Right. So I think there is plenty of chance in three months time or in six months time if there's certain post-solutions that turn out not to be a perfect fit, either with the subsidy or for them to re-accept something like you. And I mean, that's just how the program is written. Yeah. All we ask is just to hear it out because we feel that there is a disconnect between what we want time to be, where you can be more smaller and more nimble and build what we think better product, where we just haven't been around three years. That will happen in two years. It could have been a new company come out two months from now and they will still be struggling because completely this is a challenge. No, I totally agree. And I'm not saying that we're kind of pushing you to have to work with one of the qualified providers to be kind of the second level counter I'm not saying that. I'm saying that there's some providers that's bound to be an inch and doesn't quite fit the original skill of this program at which time this program will probably cover another provider. And if that happened we would just like to try and figure out if there's a way a company like us who spends so many thousands of hours integrating with becoming a jazzy function running turnkey on virtual servers all over the world that maybe some of these qualities can also help qualify for the subsidy because the reason we can provide such an affordable solution is that we upload five jabs ourselves. I know, I know. And that just makes it a little easier for our customers that there's a lot of things that they don't have to do. Our main competitors don't utilize the full turnkey function also. They don't automatically merge numbers and combine the five jabs numbers like we do. So we build all these things around. Maybe that could come for something when you decide what companies would you like to work with for this subsidy. That's all we ask for. Sure, sure. And that does say I'm totally with this. I think it sounds fair and I'm sure it all does but of course we just want to bring it up because we're just a very specific edge case and our competitors are extremely established and the whole reason why we build something like this was that there was a lot of concerns with the people we spoke to that they don't feel this particular the main competitors in Taiwan are as nimble and agile as they should be. They're kind of established and they're the default go-to solution. I chef there's no reason name any names here. Who used to be part of a government grant for startup I believe in Taiwan and they're doing wonderful work but they are just becoming a default solution that hurts invasion for companies like us because we try to build something that is more affordable and with technology more I'm well aware of that I'm well aware of that so I just look at the detail and they say that even if they qualify for this round they're only qualified for the year so it's not a three-year qualifier so it implies the next year they will have to put another cover for violence because otherwise they wouldn't have to say that you're only qualified for a year so basically the idea is that they will let it run from April to end of the year and see how that performs and then I'm pretty sure that by the end of the year they will have another cover for violence which will run again for five months and so of course we're on the record so we can ask our colleagues from MLEA to review your case and you can actually because there's a YouTube link you can send it to Tupamela oh right right we just but that means for the next five months not only do we have to deal with our record challenges which is hard of course with the circumstances but we also have to every customer we qualify and we have to say no of course they're going to they're going to look into what companies can be can support them which will they basically get for free that's our challenge sure sure but you can also say that you know if you want to transform your workflow it's okay to start with a competitor and then you can probably see when you get qualified in Asia like how much better that they would and I don't disagree with you and that's what we do we take off a lot of customers from our main competitors and they fortunately stay with us because we have a big problem that's right but the switching cost is high for restaurant so as soon as you are locked into one platform it takes a lot of time a minute of money so we have to approach them again and say well you don't get the qualifying branch you're years up now where you were funded by instrumental source now you have to transform your trust it's just a challenge yeah sure and then when I was running I've been there so I you know what I'm talking about I'm fully with you and I'm more than that because all my solutions were itself open source so there's nothing preventing my competitor to take that it's their flagship feature so I mean even more challenging place I respect that I really do but a point I'm making is that there's two different costs here right if they adopt a vendor that is a competitor to you that has some sort of vendor login still that vendor kind of absorbs training costs for you in a sense in a sense because they will have to absorb the digital transformation and things like that but to work around the vendor login of course the main technical challenge is the migration path and if you have a good migration path you can just very easily funnel people to your better solution but if you don't have a migration path then of course you're in a very bad position so what I would recommend in that situation is that if you provide government funding for people to use a comparable exact it needs to be exportable because right now we cannot export all our data is exportable in CSV files all our historical data all our internal settings data everything people can explore what everything was which is a kind of data portability exactly right so that would be interesting if you say okay if there's government money involved then you have to guarantee that a year at least at the end of the year at the end of the year you have to provide a comma export format exactly right so we can transfer because the same a very specific case would be a chance to pop out sure we are just going to avoid an invoice that was issued by them really so all of a sudden we don't have access to the core data of that invoice so we cannot actually not board it because we have to send a C05 or one signal XML file that contains information that's only available with the old invoice sorry the old child's attention that information is not even exportable from the e-inverse platform so when we take over a new customer we don't have that information to be able to to avoid orders that were issued by a previous child's attention okay so I do see that export service being one of the requirements but it doesn't say anything about exporting an open format or I exporting a comma format right which is going to be very much not useful for you if they export it as they you know their own binary exactly and of course even then I mean we could I mean what's engineering their format but it doesn't work no of course so I think you're making an excellent point in saying that even though they're all proprietary solutions by the end of the year and they say that they offer export functions but the export functions need to be on the open format and hopefully a standard format but at least an open format that is licensable via their instructions and then basically that will then be a third deal to deal with okay that I can do so what I'll do is that ST my colleague will contact the office for matured as in which is part of anyway at SBLPO service and ask whether it's possible that at the end of the review term because they do provide to whether you as a provider gets recommended for the next evening or not and whether it's possible to put in as a criteria that your export service need to be a open format and if you don't then maybe we buy before the review and that will put a lot of incentive for the current generation of qualified teams to provide a safe migration path and it's not only for you it's also between them so I think they're in a position and ST will see to that well that's definitely important the same one would be if there's anything we can just so we have a sense of for the next period if there could be other criteria other than the monetary five million five million I'd love to go out and more criteria they may relax some different no just maybe there could be a way if we don't hit the five million maybe we can value something else then we could put some sort of monetary value on it because it's hard to qualify how much time me and my colleagues have spent on this and of course that's not a money that's that five million but you can do a you can do a long truth what's that long truth equity by a leg can we do that for for your own company because if that counts share so you can you can allow truth to pay a little bit of tax because on paper you all gained like triple your share so of course you still have to pay some tax for that but you don't have to put in actual money for that you can just say our time is worse this many shares and then just start printing shares for yourself there's some tax involved but it's fully kosha by the Taiwanese company law okay are you aware of this we can talk to the council you have to look at what we choose okay but we just feel that and it has to be we don't want to you and I don't want to go start up come in just to apply for subsidies so we just want to raise our concern and then just make it so that we don't lock in customers with particular I think fairness interoperability these two are very important criteria and we'll see what we can do that would be awesome great thank you anything else well thank you for your time thank you this is always fun and if we can get a YouTube link yeah of course I'll send it to you before the end of the deadline very much alright thank you so much