 So here we have the latest clear ink demo compared with the memory LCD right here. So how are the colors right now? How's it going with your display? Well, there's a lot of progress this year, obviously. We've almost doubled the resolution. We've increased the color gamut by about 30%, I would say. But very importantly, we've brought down the operating voltages to 5V instead of the 10V that we were operating at last year. And that has tremendous benefits in terms of power savings. So this is your latest smartwatch color smartwatch demo. And compared with a memory LCD, it's going to have better colors. Like right here, you're comparing it. Well, colors are better. That's one thing that you should note. But what is very important in this demo is that the LCD technology is completely shut off. So if you take a step back, you can see that under a 45 degree angle, it completely shuts off. So the viewing angles are not good. The LCD is not as good, so we have almost perfect viewing angle. Perfect. Is it like looking at a piece of paper? It's like looking at this. Really? So it's 160 degrees. So even when it's completely tilted, you will see our display. But this is the last year's prototype, right? Yeah, but it's a characteristic of our technology that you have very good viewing angles, which is important for wearable devices, for any mobile device. But last year you were talking about this big project you're working on, the eSchoolbooks in Asia, right? Yeah, so the eSchoolbooks are in trial manufacturing in China since a few months now and they'll be releasing in Q2 of 2019. So is it too perfect some of the manufacturing challenges there are with making a new display technology? There is a big difference between making a lab prototype and making a volume product. And those are the things that we're ironing out at the moment. And all that is going according to schedule. But there is work involved, of course. So going down to 5 volts compared to 10 volts, is that double the battery life? It greatly reduces the energy consumption. Now the energy consumption was already very good, so you are looking at a 90% reduction compared to LCD technologies. 90% down. So the smartwatch right now, this is a black and white demo to show the contrast? Yeah, so the contrast has gone up by almost 100% compared to last year. Last year we used standard components. This is the first time we show actually back planes that are manufactured in our factory in China. So what you see is a 202 dpi with sub-pixel rendering? So right now you have very black and very white. Is that what it is? Yes, very black and very white. And the fact that we can do very white is the reason that we can do color displays as well. Because without the brightness you can't really make a color display with a color filter. You're not doing any front lights yet? This is all just the boost lights? No, we have front lights as well. They are truly impressive. We have limited space on the boot. So I was thinking that we will show these later in the meeting room if you're interested. Alright, so you have some front light demo. The front light technology is just a similar front light that's being used right now on e-ink? No, our technology is totally internal reflection based. Internal? Totally internal reflection based. And it has a different type of reflection compared to e-ink. So we have a customized front light. It's proprietary technology. How does that make it clear or nicer? It's almost twice as efficient in terms of the usage of the light that you pump into the front light compared to an e-ink display. So it uses very little power. So why are you working in China? Why are you working with Chinese? Is it the political thing right now that's happening where they are requiring every child to have an e-school book very soon? That has to be good for the eyes? So education is a very good market for us because these days they expect color and video as part of the curriculum. So if you want to digitize an education system, you do need the characteristics that are unique to our technology. So it's just a very good product market fit for us. Are you going to be able to? Because the last year's prototype, right, it was a limited frame rate kind of. You was talking about 33, but are you going to do a full video frame rate? So we're showing 30 frames per second here, but we expect that to go up even further as development proceeds. So this is a 30 frame. So it's going to be totally fine for videos, right? Yeah, so we've just actually doubled our electrical engineering group with an office in the Netherlands, which we needed to do to get the speeds up and deliver the final product. So we were a little bit resource constrained until we started finally closing our C round of funding last year, around the same time. And that enabled you to expand the R&D? R&D. So it's mainly just the R&D? Mainly R&D and supply chain and manufacturing. So we have manufacturing people in China. We have R&D in Fremont, California and in Eindhoven, the Netherlands. And the one in the Netherlands is doing what you say? It's specializing in which part of the R&D? There is driveway form development. There's reliability, failure analysis, device architecture. All that is done partially in the Netherlands, yeah. But when people create video content like my videos, let's say on YouTube, right? Is it going to look strange on your display because it's like a totally new kind of display? Or is it just going to be fine? Just like, that's a video. What is going to be the effect? It's like watching video on a piece of paper, right? We believe that LCDs look strange because they shine a light into your eye, which is very unnatural. It's going to look as normal as a printed magazine. So it's going to look just like so glossy and nice? Just like this is our target performance. Is there any chance that display can be both glossy and matte? Or you have to choose? Is it going to be mostly matte technology? What are you doing? The glossy and the matte part, I think, comes from the cover glass. So there are different ways to finish our displays. Some customers want to optimize it for the writing experience, for example. Others will want to optimize it for the viewing experience. So there's many degrees of freedom that we can work on. So right here you are showing a smartwatch. It could be a huge market to have the proper smartwatch dream that people will have a watch that just lasts for weeks and weeks on the battery. That's really important. I guess you have some e-books, schoolbooks, prototypes, the front-line prototypes and all that. It all depends. You show them sometimes to some certain partners. It's a little bit secret, right? What are you doing? You're not showing all the different things you have. The customer interactions are secret, yes. So the prototypes that we develop for customers, they're typically covered under NDA until they go public. But if you're really curious, you have to come and join us early 2019 and that will show you the final product. So early 2019 is start shipping or what do you say? Q1 2019, yes. For the smaller displays, for the wearable applications. And the bigger ones? Probably about Q2 2019. The bigger ones we do need to do is scale up to get the right volumes. We actually have partnership agreements in place that require us to produce such a volume that we actually will not be able to manufacture it at the moment. So there is a huge scale-up effort needed on our side as well. So you launched last year at SID Display Week. Yes. And I'm sure some people are going to comment and say, ah, is it delayed? Is it delayed? But actually it's not. It's just that's how displays are done, right? It takes a little time and now you have to scale. You can't launch like a small quantity. You want to launch big quantity. So that's why 2019. Yes. There is a couple of months delay, I think, which is not unexpected in a display development. Couple of months. Yes. When you go into manufacturing, you find out some challenges that you were not aware of because they simply don't show up in a lab environment. This is normal part and parcel of developing a new type of display. Are you going to have the first prototype soon? Are you going to be wearing? There's no need for this big bezel, right? Is this going to be like a small watch? There is no need for big bezel. That's correct. You're going to be able to have this this year, right? The first prototype. This is a mock-up for the exhibition here. Nice. So in terms of bezel, you can go as small as with any LCD display, right? So the underlying technology is very much similar to an LCD. So what you can do with an LCD display, you can do with ARC display. These panels are also made in the LCD factory, which is very important to understand from a customer's and price point. Because it's not a totally different technology. It leverages 50 years of experience. And sometimes there's a little memory or something of a previous thing that it displayed. Those lines are there. It's just a typical thing of new display prototypes, right? Those lines are manufacturing defects. So these components are made in the factory, but they're still assembled by hand in California. So that is something that you will... This is human error. Once it's done in 100% clean environments in Asia and stuff like that, this is going to be totally perfect and awesome and flexible. We can do flexible. We've done proof of concept, but for us it's not a priority. Everybody talks about flexible, but we haven't found a customer that said that they needed to do flexible. So flexible with us, you can probably expect by the year later. So we know how to do it. It's just that for the first product we don't think we need flexible. Eventually it would be great for the kids to not be able to worry and just throw the flexible kind of e-school books in the bag or on the floor and it doesn't break and stuff like that. Now robustness and flexibility is not the same. You can make a very robust glass backplane device. You don't have to make it flexible to have it robust. But both are possible. There's no problem with that. You have to understand that in today's market the flexible solutions come with a bit of a price penalty. They still cost a bit more money than the glass backplane. Are you going to be in IoT and smart closing and stuff like that? The smart clothing is something that we reluctant to look at at the moment but we have a lot of demand for IoT. Especially the big internet companies, they're all massively getting into IoT applications. Smart homes, labeling, all that is merging into one big IoT market. And what's the status on Bystable? Is there any chance in 2019 there's going to be some options? Absolutely not. We have actually decided not to develop our Bystable solution so we have a proof concept again but it's not put into engineering. We really have to prioritize on one or two markets being a small company. So we have delayed flexible and we have delayed bystability to focus all our people. Wouldn't it be awesome if the smartwatch was fully animated and then when it stays, then it stays for like, you know, instead of seven days battery life maybe it could be like seven months if there's a combination of fully animated and Bystable somehow. Yeah, we don't know too many customers that want to stare at the display for seven months. So the value proposition would have to be defined. The problem is if you do that, you typically destroy video. And what people are asking us is to do video and color. So our focus in development is focus on video and color. Bystability is very important for electronic shelf labels but that's not a market we focus on. So we get compared with E-ink all the time but we are not to be compared with E-ink. We are a different type of device, a different type of display module and we focus on different markets. So since the C-round, how did you manage to expand? Was it a big job to find engineers and organize the company? Well, they all watch the videos that you put on YouTube and then they apply in drugs, right? We have hundreds of resumes after the video. No, kidding. We've been very lucky finding people that are inspired by the vision of finally creating a reflective color display. There's a lot of people in the display industry that know that there needs to be a future after LCD and OLED and they come to us. So we have a very inspired team, a very loyal team of amazing people from all the leading companies in the world. It's going to change the world. If you can make this work, it's going to be everywhere. It will be everywhere. We actually believe that in 10 years from now you will be asking yourselves why we had these displays that you could only use indoors, which is quite unnatural if you think about it. It's going to change the way people kind of live because you can go outside to the work. It will work. You can go outside, sit on a terrace in the sunshine, have a drink and do your work. It's going to be laptop displays, smartphone displays. All that is technically possible but not something I would dare to say that I want to focus on because I need short-term focus, right? But if some huge company is watching this video and wants to do it, just contact you and you'll be like, okay, maybe let's do it. I'd need some help though. You need some help? I would need some help. The 45 people that I have is a very hard-working team. It's a start-up environment, right? So you choose achievable goals that generate revenue in the shortest span of time.