 Hi, I'm Mateusz from Noctiluca. Pleasure to be here. So we're going to check out your presentation right here. You're talking about a new innovation that you're doing, right? Absolutely. So we are a technical company dealing with organic chemistry. But at the end of the day, what we're aspiring to do is to make this place and display technology better. So every decade or so, there is a technological leap. And you, as a person who is following all the trends, are more aware of it than myself. That every decade or so, there is a switch between different technologies. We remember all these old TVs, the CRT TVs, went to Plasma LCD. And now LCDs are phasing out for the benefit of all these. They've already taken over smartphones, they're moving into TVs. And hopefully in 10 years, we'll see them flexible, transparent and almost not noticeable in everyday life. But there will be everywhere, for sure. So what does it mean when you talk about 2030 or OLEDB? So if you think about the technology and if you think about how the display industry is changing, you can see certain trends. And if you have a look at the slide number six in the presentation that I've sent you, you'll be able to see that the whole market itself is shifting away and growing, actually. It's a representation of the OLED market. It's moving away from LCD to OLEDB. And today, because of certain limitations of OLEDBs, they have penetrated certain aspects of this market, of these users, let's say. So OLEDBs are everywhere when it comes to smartphones. They're quite used in different wearables. But there are certain limitations that they haven't overcome yet. And they haven't populated that much. The TVs, it's growing, but definitely not as laptops and monitors. And this is the shift that we're seeing. And the trends on top of that is that the devices are becoming less and less visible and more and more embedded into our everyday life. So of course, we will see, and we're already seeing, more transparent, more flexible devices. And what we are doing as Noctilucca, we are providing the next generation OLEDB materials, so building blocks for the OLEDB screens to become more energy efficient, but also more flexible and transparent. And if you look at this slide that I've sent you, the No. 6, you can see that right now, the screens are using materials of first and second generation, but there's an underlying change happening, or will happen any time now, to third and fourth generation. Today's devices have a very important problem in its structure. Every OLEDB is like a stack of different layers of materials. It's like a sandwich, if you will. And one of the layers of the sandwich is emitter. The emitter is the chemical compound in the form of powder that when you apply electricity to it, it glows. And this is what we deal with. And today, emitters are fairly inefficient, especially in the blue light, that represents around 70% of light emission. Now, if you turn off the lights in a room where TV is on, you'll see that the blue light, right? So it's fairly understandable that blue light is responsible for most of the light emission, but not many of us are aware that the technology behind this emitter, this chemical compound, that emits blue light, is stuck in the air like 20 years ago, and there hasn't been much innovation in the molecule itself. And some of the other colors that are being used in the screens today have other issues like the use of heavy metals, like iridium or platinum, that of course mean that these devices, these materials for device creation are fairly costly. But also, you probably have seen in different devices different displays the burning effect. So the logostation that it's burning in the corner of your screen and it's annoying you, and this is actually why this technology, this OLED technology hasn't populated laptops and monitors that much. Because when we use text editors or any type of spreadsheet, usually the grid is fairly rigid, it's displayed on the screen for a long time, and this burning effect in laptops is much more acute. That's why the OLEDs with today's technology are not very much using the OLED screens. The burning effect there is much more acute. And in general, the lack of blue emitter, this is the biggest issue with the current generation. So the emitter is the materials that we are bringing to the market. Take care of all the issues from the past. They're fully organic, so there are no heavy metals. There is no burning or very limited burning effect. And much more energy efficient and so on and so forth. But moreover, and this is perhaps turning back to the question about OLEDs of 2030, these emitors, these molecules are easily implementable in the current OLED technology. So all the production facilities don't have to be changed. You just switch the type of material that they're using. But on top of that, this new technology enables printed electronics, so printed OLED screens, transparent electronics, and flexible electronics as well, because this is sort of intertwined in there. Yes. So maybe we can go through your presentation screen, where you can talk about some of the things that you're going to talk about today. So let me perhaps start with where we're coming from. So we are a third and fourth generation OLED emitter producer. Since the company itself is fairly young, we are built on the back of a larger organization, Sentex Technologies, which we've been a spin-off two years ago. But this organization has been working as a chemical CRO for different international clients for over a decade. And today we have a dedicated team to developing of this product dedicated to OLED market. And you are probably fairly knowledgeable about the Polish science technology background. Our STEM education is fantastic when you look at different comparisons between different countries. And you might remember some of the scientists from Polish history, Nikolaus Kopernicus, Marikiris Kudowska, but probably the most important one is Aleksandar Jaboński. So Mr. Jaboński was a professor at Toruń, the home city where Luca is born, and at which university he worked. And he is a forefather of modern optoelectronics. And following examples of these great scientists, we've built a fantastic R&D team here in Poland. And today we're still based in Poland, in the European Union. As I mentioned, we are focused on high-performance materials for OLED displays. And so far we've been able to build quite a network around us, both on the commercial side with different international partners, but above all, we've coupled with many technical experts and leaders in that space. I've already told you a little bit more about the changes that the display industry is seeing. Maybe one more thing here to add is not only that the display industry is changing, but also on top of it, there is a lighting aspect to OLEDs. Today, OLEDs are confided in smartphones and these wearables and on monitors. But once they break the cost barrier, there is nothing stopping them from taking over the lighting market. And that, in itself, is a very promising and exciting opportunity. How do you help in getting that cost barrier threshold passed? Are you part of the future of that? Of helping to get the cost down? Absolutely. This is where we believe we can be part of the solution. As I mentioned before, one of the issues with current materials is that they use heavy metals. And these heavy metals include iridium and platinum. These are very expensive type of materials. The new generation of materials are fully organic. Therefore, they're fairly cheap when it comes to the cost of subtract. This is one thing. But going even further, right now, the production process of most of the devices, the OLED devices, is done under a process that is called physical vapor deposition, so PVD. And a manufacturing plant that uses that process to build, for example, OLED smart home displays costs billions of dollars. I'm not saying it's not millions, it's billions. While the new developments and we're part of it will enable printed OLED screens, or at least lighting applications. Which means that, you know, capex or machinery needed for printing OLED screens is in the range of millions of dollars, not billions. So this probably, you know, once we get to that point, will have the potential to democratize access to OLED technology. Today, most of the production is done in Asia and in, you know, with two or three large players. And once we can get the printed revolution happening with OLED screens, this definitely will be a game changer. And I'm not afraid to use that word. I believe we are pioneers when it comes to providing materials for printed displays in the OLED world. One of the coolest things to see at the SID Display Week events is those few kind of like prototypes that are being shown where, for example, BOE or some other companies, CSOT, they're showing these prototypes, huge printed OLED TVs and saying that they will eventually be able to do them at $100 per meter or something like that. And so you're part of that game? Absolutely. This is where, you know, this is the heart of our innovation. We, you know, bring to the market materials that enable all the other processes to go that way. Yes, absolutely. Of course, you know, to bring those devices to this price point that you've mentioned, it requires innovation in, you know, both process, equipment, not only materials, but when it comes to materials, I would say we're ready to support any type of project when it comes to bringing such a prototype to the market. So there's a couple of comments, one from D. Freikler asking, OLED and car front window or dynamic lighting of paintings in galleries? This is... Could it be possible? It's absolutely doable, it's possible, you know, it seems like a futuristic vision or, you know, like using another Polish probably invention, the cyberpunk vision of the world, but it's here. You've seen the prototypes, now the question is about the price point. And, you know, once this technology is everywhere in numerous production facilities, it's going to happen. Today, the best car manufacturers are already using OLED lights and information panels, and this game will only go further. There is absolutely no reason to believe that LCD screens will stay with us. Every major display manufacturer is actually closing down or simply not investing any further in LCD technology. They're only expanding into OLEDs. So maybe if I switch over to your video, maybe you can... Sorry, there's just one more comment here. Thanks for the answer. I think the price of OLED should go down as it becoming more popular. That's one of the... You know, it's always a market play. Today, as I mentioned, OLEDs are in high-end TVs and in smartphones. And they're in smartphones almost everywhere, but think about what happens when you make a phone call. The screen goes dark almost immediately. And this is because of the energy inefficiencies that I've mentioned to you. With new generation of emitters, you can actually jump through some of the hoops over there. Okay, go ahead with the video. So I'll play the video with the sound, right? So we can hear the sound from the video, and then after you can comment on it, right? Absolutely. Or you can even talk on top during the video if you want. Let me give you a short introduction. This video is a technical description on what's happening on the molecular level in different generations of emitters. So the first two that will be mentioned in the video are already deployed in the market. And the ones that we are developing will be mentioned at the end. And you'll see where the energy efficiency comes from. Okay, go ahead. So by default, you'll be muted during the video, but you can unmute yourself and I think you can talk. All right, let's do like this. And I'll start it from the beginning in full screen. Generation. Here you have the mechanisms of operation of the emitters of each generation. Here you have the first generation emitters acting on the basis of the fluorescence mechanism. In the emission layer, an electron meets a hole and they recombine, exciting the molecule of emitter. One of the four molecules excites to a singlet state from which it can return to a singlet ground state by emitting a quantum of light. The other three molecules excited to the triplet state are stuck at this level, unable to emit light so they slowly lose their excitation energy. The second generation of emitters acts according to the phosphorescence mechanism. This generation can emit light from the triplet states thanks to two effects called intersystem crossing and spin orbit coupling. These effects are available only for emitters containing heavy metals but allows to utilize all excited molecules. And finally, the TADF mechanism which also uses all excited molecules but from the singlet state. The crucial factor for emitters acting on the basis of the TADF mechanism is the small energy difference between excited singlet and triplet states. Normally, the energy difference between these two excited states for organic molecules is about half of an electron volt but for the TADF emitter, this difference must not be greater than one-tenth of an electron volt. And again, the hole and the electron recombine, exciting the emitter molecules. The molecules excited to singlet state can easily lose their energy by light emission. This is prompt emission. The molecules excited to triplet state can, thanks to a low energy difference between states, go to the singlet state and also emit light. This component of emission is called delayed fluorescence. OK, so that was a fairly technical explanation of what's happening but at the end of the day, just remember the first generation of emitters is very energy-inefficient. Second generation of emitters achieves 100% of energy efficiency but at the cost of using heavy metals to do it. What we are bringing to the market is the top quality, top energy efficiency without the compromise of having to use expensive and also difficult to recycle heavy metals. So the TADF stands for thermally-activated delayed fluorescence, right? Yes. And it's been part of the industry for a long time? So the phenomenon itself has been discovered probably around the time that the gentlemen who founded Sintax Technologies have started playing with it so around a decade ago or a little bit more but getting it from a whiteboard to the market it's quite a long process. Today, there is only one company that's been able to show only one use case for the third generation emitters being used in a device. Hopefully, we will be able to show you, if you have us again sometime early next year, we'll be probably able to show you a demo of a product with this new generation of emitters being used. So this is also a more clean alternative, maybe even revolution to existing manufacturing methods? Yes and no, because yes on the material side of the emissive layer. So what we could have done to be a bit more green than yes. But please remember that OLED screens are not only the emitter layers, they're around depending on different manufacturers between 15 to 20 layers. So we are fixing just one of the layers, but it's a step in the right direction, yeah. So how long have you been talking about this? So the company is a bit more than two years old, but the technology behind it, as I mentioned, has been like a decade in making. And because there are, as I mentioned, these dozen of layers that you have to optimize for in the device itself, the R&D process is fairly long. You have so many feedback loops, because once you change something on one layer, there has to be another change on another layer and so on and so forth. So the R&D process between bringing the new material to the manufacturer, to seeing the device with the new technology is like two years. But we're in that game, so it's coming. So do you have a lot of interactions with the display makers, the display industry, are you part of the SID display week kind of ecosystem? Yes, absolutely. So there are a couple of aspects to that. So yes, we are at SID. Every year, since our inception, we've been there. We also been showcased in ISO, so it's this place for the most, let's say, ambitious and innovative demos of SID. And we've been showcased here last year. So yes, we're very much at the forefront there. And one of the reasons behind that, and great supporters of ours, is probably some of your viewers might be familiar with. His name is Sri Peruvenba, he's our advisor. And he's been able to boost our profile and our visibility on the market tremendously because we are a technology company from Central and Eastern Europe, which doesn't always get the best press, but technology is solid. What we lacked like two years ago were the network effects, the connections. And Sri has been able to open some of the doors for us. But also when we entered the public space, let's say, for example, on OLED info, we had tremendous interest from the market, from the biggest of the players. You know the names, I cannot disclose them, but you go into any electronic store and you know most of them. Because we are in talks with almost 50 different companies, from huge to small. And one of the reasons behind that also, and you can perhaps go back to this graph that I've shown, is because currently the material space is actually a monopoly. The second generation emitters, so the red-green ones, are almost entirely provided to the display manufacturers by a company called UDC, so Universal Display Corporation, that's quoted on NASDAQ. And the first generation is after so many years, more or less a commodity, but still there are only a handful of manufacturers of these emitters. And so currently LGs and Samsung of this world are complaining because they have something that you might call a vendor lock-in. There are only one or two suppliers in the world of that technology. But going into the third and fourth generation, we are actually one of the few independent alternatives out there. Two other companies that are at the forefront of this race to bring that technology to the market, already have investments from LG and Samsung, which means that everyone else on the market is scared that they will have to experience this vendor lock-in for another decade or two. They're simply because of that. They're very keen on starting a conversation with that. And having that open doors, we can show how good the technology is itself. So how can you show this? What do you show? So the process usually works like this. There is like a molecule design, then you have to manufacture it. And once you have the emitter, the molecules, the materials, you send them to a lab. In our case, we have a partner, our own part of the Korean lab, where they're tested in near-industry standards or the type of devices on a small scale. Once we have those, we go to a third-party, let's say, research institution. And let me share my screen, perhaps, right now. These are the type of institutions that we are actually working with. So the one in the middle, on the right-hand side, QMH University, sorry, to all the Asian speakers, I probably butchered it, but our lab is there working with, to bring these devices to the market. But once we have that, our own lab gives us good results. We give them to a third-party, like E3, so industrial technology research in Taiwan or KIT in Karslua. And they have this third-party independent review of our results. And with those results, we go into conversations with different partners and we start joint development projects with them, basically. Once they are convinced that the parameters that we achieve are good enough. And only then, this 24-month period or window is open, as I mentioned. This implementation of this technology takes quite a while. So we've got a question from SP95. Will you be able to improve near-dark performance compared to today's OLEDs with your technology? Today's OLEDs are clipping to pure black too shortly. I'm not a technical person, so I don't want to mislead you in that aspect. What I can tell you with utmost certainty, the technology that we bring to the table, shortens, has a very narrow emission peak, which allows you to steer with the colors more precisely. And if I understand it correctly, the issue with blackness of the screen or darkness of the screen is also the issue of how do you emit light in the screen. Either you have pixels that are shining or glowing, emitting light, or you have a backplane that then filters out the light. So once you have the backplane, of course the screen will be brighter as general. So depending on probably what the building technology for the device itself is used, this is where your answer lies. But again, I'm not a technical person. I probably already overstepped my confidence in that answer here. It says more precision should help with near-dark performance. That's the comment right here. What are we looking at here on this slide? What's the context here? It's actually the building blocks of a device. So every device is built from one of the things. If you would smash your smartphone, you'll see an OLED module. So basically a screen. And this screen is built of small diodes. And every single diode is built from very thin layers of the stack, OLED stack. And the OLED stack today is between 15 and 20 different layers of materials. With our technology, not only we can make some of those layers, as I mentioned, more efficient. And this is the core of our technology. But also we can limit a number of layers by probably around five. So we can go from 20 to 15 or from 15 to 10 layers, which will make, of course, the screen, the module much more flexible if it has less layers. So responding to your question, what you're looking here is you're seeing the building blocks of every device and at the beginning you have the chemical compound synthesized in the laboratory. This is what you get. Not many people understand the fact that all these screens, no matter if they're transparent or not or flexible or not, are built from around 20 or 15-year layers of different organic materials. And if I go here to the next slide. Okay, so here you see problems with current generations of emitters. So there are two generations that are already being used. So the first generation is only right now used for blue color and it's simply energy-inefficient. Only one in four, it has only 25% energy efficiency. Three out of four excited electrons are not emitting light there. So this is why this technology has to be improved upon. This is actually the biggest hurdle or the holy grail for a company like ours to introduce to the market a new generation of blue emitter. I've already covered the burning effect, but actually the burning effect comes partially from a use of heavy metals in the molecule structure because when you use heavy metals in those molecules, those, what do you call it in English? I'm sorry, I'm not a native speaker after all, the links between heavy metals and the rest of molecules are less stable than in the purely organic compound. So that's why after some time these connections break and this is what causes the burning effect. That's why you haven't seen, probably at the risk of repeating myself, you haven't seen a laptop with all these screens. Of course you've seen probably because there are one or two products out there but not in the mass scale because if you use any text editor and you give it to a person that spends eight hours a day at the text editor or any type of fixed, let's say frame on a screen, that person probably within a year would have a burned in Excel file on their screen. That's why the new on-part MacBooks, the M1 Pro and M1 Macs MacBooks are using mini LED LCDs because Apple wouldn't want to have like five million people returning their MacBooks after a couple of years if it burns in, right? Exactly. And probably I haven't done the market research on that but probably this is the reason why only the high-end TVs are using also only these because these people will change those TVs before the burning effect happens because these are the people that are following the trends, right? But most of the users will notice the burning effect. Most users would want to keep their TVs for 10 years. Oh, yeah. So after 10 years you'll have some burning with current generation of materials. So you're solving that, that's a big deal. We're definitely helping. As I said, the burning is not only because of that but it's a big chunk of it, yes. And here's the solution, a new generation of emitters. So the new type of materials that we bring to the table because they're fully organic, they don't have any heavy metals and so on and so forth. So they don't have those issues caused by that. So the burning effect is limited or none. The device operation time is longer because we have 100% of excited electrons emitting lights and because we don't have these expensive iridium and platinum used in the device, the production cost is lower or our margin will be higher, we'll see. It's so exciting to see the printed OLEDs come but always the question is how soon are these big multi-billion dollar companies going to put billion dollars in the next gen? How quickly do you think that can happen? Are you hopeful that what you are talking about is happening very quickly or do we have to wait like half a decade or a decade? Okay, so I told you that I'm not a technical person. Actually, I'm a finance guy by training. So it's not about technology. I believe it's not about technology because if they wanted, they would bring that technology to the market in two, three years. But they invested billions of dollars and currently the vapor deposition type of technology and from the accounting standpoint they have to recoup the costs that they've incurred. So decades for a widespread use of printed OLEDs? Absolutely. I'm not talking about the first prototypes, first type of devices because these can come to the market quite soon but when it comes to every smartphone being printed rather than built in the vapor deposition technology it will take a decade or so because they've just built these huge and expensive production plants right now so they will wait a decade to recoup this cost. Again, it's not a question of technology. I'm sorry to say. Unless, of course, there's a new player because as you know the display world is fairly concentrated I imagine that, for example, OLED that is at the forefront of the printing revolution might grow into another LG or Samsung so perhaps this revolution after all is not that far away but if you count on the guys that already put billions of dollars into the ground and built those plants they won't shift any time soon. There's a comment that might explain why Jolid panels are not used that often so it's hard to become one of the huge guys, right? To dominate the market sometimes there's like a Burj Khalifa in front of you like it's hard to jump over. Yes, and again because all the LEDs are currently used in mostly smartphones let's make it obvious that most of the money comes from smartphones like that and high-end type of devices. There are only a handful of companies that use them on the device side. All the other OLED devices are fairly basic like medical devices with some OLED panel that they're fairly simple and for the most exciting displays there's something like apples of this world that use them and they're like free companies and until they change their mindset and they want the revolution to happen display manufacturers won't bother and won't invest in the new wave. But one has to think that there should always be a disruptor just around the corner who really wants to disrupt the market and who's ready to jump on something new even if it costs $5 billion even if the established one, you know that that should be kind of like the way things work, right? Absolutely and that's why despite the fact that most of the money right now in the display world is in the vapor deposition printing and manufacturing technology and we of course are there and we're providing materials for that we have abandoned the inter-printed world because we see so much potential there so much potential there actually the most exciting prototypes and most exciting uses for all the technology comes from the printed world not from the vapor deposition world. So when we look at your slide there's a couple slides on the kind of like the timeline so this one and... there are a couple of them this shows a development of the company itself here you have like a half of the story told so at the beginning we had syntax technologies as I mentioned we've played around with this technology but only in 2019 Noctilucca was a spin out of it and we invited some of the seed funds to join the journey that allowed us this money from seed funding allowed us to protect our IP of course and get to the first joint development project and this joint development project hopefully as I mentioned will bring results in a form of you know widely available on the market product with our technology implemented early next year after that after this point in time that you see on the slide here somewhere a little bit later oh if you... the next slide I'll show you my screen probably this one? yeah so once we had this first joint development project we've been able to attract some of the leading thought leaders let's say in that space so Shri Peruvamba and that was a huge helped us in this huge business development space and again we launched Lab in Korea where Professor Kwon as our technical advisor has been able to you know skyrocket us into the technology leap and along the way this first joint development project is actually in the Inject Printed Space so the first use of our technology will be in the Inject Printed Space and that forced us actually to innovate a lot and today our materials in the third generation of emitters are as good for the Inject Printing as as good as the ones that are used for the vapor deposition and let's stop for a second to understand that a little bit more because one of the reasons why the printed world hasn't kicked off yet it's because the materials for that technology were lagging behind the vapor deposition production process there were 20, 30 times less efficient or you know with 30 times worse emission properties and so on and so forth so we've been able to bridge that gap in just two years so in two years we since the launch of the company we are able today to say that our materials for the Inject World are as good as the ones that you can get for the vapor deposition world and we can do that in all of the colors so red, green, blue and yellow which for someone who intends to print a screen or display is a huge deal and of course that led us to on the financial side or the operations side to some capital needs so we've just raised another round of you know in the last 24 months around 3.5 million USD and we are in the process of being listed on Polish NASDAQ called the New Connect Stock Exchange it's a smaller stock exchange for technology companies in Poland so we're very much on this trajectory as you know any deep tech company would like to go we started in a lab attracted some seed funding got our IP positioning and our business, let's say, outlook right attracted top talent when it comes to both business and technology globally and going for a stock exchange right now Oh, sorry, can you hear me now? Sorry, let's take one more question from the chat Oh, so the yellow emitter is back Well, is that right? Actually the first implementation globally not by us unfortunately they've bitten us to that by one of our competitors is in the yellow color so probably yellow color won't be used in displays like in smartphones or something like that but in displays that use only one color there's actually no issue with using the yellow color as on a wristband or any type of medical device yellow color in the third generation of emitters is actually already on the market and early next year we will bring the green color and as I said, the holy grail is always blue and we are very much in the forefront of the razor as well and if you get through here management team, KRND team Yes I probably won't bore you with details of all of our lives but on that note I wanted to perhaps to underline the fact that we've been able to attract some really heavy hitters Go ahead and check out Sri Peruvamba He's one of the guys behind E-Ink Corporation at a certain point of his life the company has a CMO and has been on the journey with them since they had like 20 million USD in revenues to over a billion and this is the technology that we know today as a backbone of the display in the kindles so you can't get any better than that when it comes to your business advisor in the display space Sri has been on the market for over 30 years so he's seen actually some of the the ways of technologies that he mentioned also on the other side Professor Kwon has been a tremendous help to us because coming up with a new molecule structure being able to synthesize it it's quite a feat it's difficult but then implementing it into the device when most of the devices in the world are being produced in Korea or China is another challenge itself so Professor Kwon who's been in the past working with Samsung and with LG has been able to help us steer towards the more practical applications or practical parameters that we have to focus on so after that we've been able to leapfrog probably another year or two in our research and with Sri on the business side I hope if you'll have the patience I'll be able to show you an exciting demo of our products early next year in hand with some of the printed and flexible solutions around here, Technology Leap Launch of Korea Lab Acceleration of R&D Efforts with Global Research Partners Exactly This is exactly where we are right now our lab in Korea is working on the materials day and night and we are also in partnership with E3 the Industrial Technology Research Institute from Taiwan and actually E3 we might not know it but every scientist in Asia for everyone, every scientist in Asia it's like MIT of Asia basically it's on one side it's a research institute and it's a gateway to any other commercial partner in Asia because once E3 says that something has good parameters it's game on and we've been lucky and happy for the file that they want to engage with us and bring our technology to the market And then you have potential partners Yes That slide paints the picture of who are we potentially addressing this technology to so you don't see here Apple or I don't know any other device manufacturer you see here either all the components manufacturers or display manufacturers or some lighting producers so our technology is very much a keen enabling technology for many of those devices to get to the next level but we're not selling directly to like end customer it's always like a multi-stage process So without revealing any secrets but potentially you've been talking with maybe some companies like that of those listed here and many, many more Alright and I'll put a pin here because they're fairly substantial contractory obligations on our site not to reveal too much but yes because of the fact that I mentioned to you that we're independent we have a very clear like a cup table with like individuals as investors we're not posing the threat of vendor locking and our technology is to par or beating the ones of our competitors I'm sure of that but even if we were at par or even a little bit worse we will still be on the market because there are other companies that wants to have this third party provider of technology as a backup if someone would like to get the margins a little bit too crazy for them as it's actually happening right now So it says product superiority best in class RGBY for IGP in race to hyperfluorescence first gen blue emitter superiority it sounds cool that sounds like a mouth but when it comes to this product superiority what we mean by best in class red, green, blue and yellow for ingot printed is exactly what we've covered that the properties of our materials for ingot printed are as good as for vapor deposition and I don't know if anyone else from companies that we've been talking to on the material side can say that So definitely this is something that makes us unique but at the same time we know that money today is mostly in the PVD space in the vapor deposition space so we're definitely chasing that holy grail of blue emitter as well So SP95 says that he will make electro luminescent car paint with that using the right layers It's absolutely possible actually we are a heavy R&D company and one of the projects that we've been toying around a little bit with is making a like an ODD base paint that everyone, like if you go to a construction shop or do it to yourselves shop you can buy white paint and print to it and then you have like pink walls or green walls So definitely it's technically it's possible to have Noctiluca for example create at some point in the future like a white base paint like white color printing ink that you can add some additional pigment to it and then print in other colors with the like a lighting application So it's definitely possible Of course it's a bit more complicated than just going to do it to yourselves store and mixing some paint but yeah it's on the roadmap Are you going to get more attention than the guy who who layered his car with gold because you'll be lighting up at night Probably we are less shiny than that or gold appeals to much broader demographic than organic compounds synthesized in the lab but yeah just so you know how valuable or what type of how precise materials we're talking about If you take a 52-screen 52-inch TV you use less than one gram of our emitters to light it up So not only ours any type of emitters So if you think about the whole world of emissive materials you need probably a couple of tons of materials like ours to supply 100% of demand in the world right now So that's why a fairly young and small company from Poland, from European Union has been able to with the right people behind and the right, let's say, technical expertise has been able to bring such an innovation to the market because you don't need like a huge manufacturing capabilities to be able to provide that technology to the market I think that covers Yeah So people can contact you on this email Yes, it's actually one of the board members Chris, who was supposed to be with me today but if you just take my first initial of my name and use my surname so Em Novak and not to look at you you will be able to reach me So go ahead reach out I'll be happy to enter any sort of conversation Oh, you can forget about that slide We have what we do right now just as a comment to it don't show it because it might be misleading at this point but we not only are able to make light out of organic materials but also during this discovery phase before Dr. Luca was created we also played a little bit with diesel ourselves for the photovoltaics uses that's just a background for that slide but today we are on the side of emitting light not making electricity from it All right, cool So thanks a lot for doing this live presentation remotely That's cool And looking forward to I understand you were in Dubai right now You see Polish Pavilion at the expo Yeah, we were supposed to do our chat directly from the Polish Pavilion but there was a pianist who took over the show I'll be publishing that video later We've been lost to Chopin, so I'm good with that That's cool Yeah, I'm sure he would be an investor I don't know Okay, that's weird Thank you for listening I'll be happy to take any follow-up questions My technical team will answer any curve balls you might throw at them as well and we'd be happy to see you in person at some point Cool, yeah, see you at the next SID Display Week 2022 which is going to definitely happen hopefully We'll see what happens in the world Exactly, and the US trouble is already available There is some Polish wording popping up Thank you, SP95 All right Cool, thanks everybody for watching See you in the next video and looking forward to this revolution revolutionary technology Bye bye Bye