 Welcome everybody back to the Independent Investor Channel here for a weekly update on highly on holdings. It's been about four weeks since I've offered the content. It's been an absolute pleasure to do so over the last couple of years. For you guys that are new to the message, I am acutely involved in this project because I want to be. It's just that simple. It is a company that I feel like the world needs. It is a solution that I believe that the world needs and I believe that they are taking the right path toward making that product that they offer to the grander marketplace available in the best way. I'm a big fan of their business plan. I'm a fan of how they're looking to strategically roll out their product and introduce it to the grander marketplace. Before we get started, I really want to give some some shotouts real quick and just kind of give you some things to think about as we proceed through the coming months. As we close out 2023, we will be eagerly awaiting the Q2 earnings call here shortly beginning of August. My expectations again are are muted as the same as they were on the last quarter. I'm expecting low expectations only to be pleasantly surprised if that's going to be the case. I thought the last earnings call did offer some shake-up in the company which I thought was well received and long overdue, quite frankly. Continued shotouts to the content creators that are continuing to beat the drum here, certainly Excalibur. At the top of the list, there was Silent Alert and Andreas Rutelskis, very good content continuing to beat the drum. There's been a few people who have thrown some acolytes my way for my continued heat, unhighly on through Twitter to be a little bit more forthcoming with their information and that's all well unjustified. Some people like it, some people don't. I'm a little bit more receiving of the people who understand what I'm trying to do and a little less understanding of the people who don't understand my intent by doing that. A lot of people escape thinking that I'm either bullish on the company or bearish. Don't presume to think that you know how others think about a specific opinion or what my motives are. You don't know me as I don't know you and I don't presume to know you. I don't spend my time like that. As an independent thinker, I would invite each and every one of you to take on a little bit more of a diplomatic approach to not only your life, but specifically stock market investing and when it comes to stock market investing and holding an equity like this on the speculative side, I know what I'm doing. I know what I'm talking about and I know what it takes to succeed. It's just that simple. You can disagree with me. You can agree. If you disagree with me, it doesn't mean that you can't freak with the channel and it doesn't mean that you can't find value in the channel in that I think it's important for us all to have our own opinions going into this because it's really anybody's guess here after three years of evolution. There has been marked progress with the company here on the edge and verge of fleet integration through the fleet trials. I certainly would not presume that we are close to commercialization in the manner that I expect it to be had when it is available commercially as a commercially viable product. I just don't think we're there yet. Again, this will be something that I will be looking for on the call with regard to clarity on the current product that they are putting out there in the controlled fleet trials. In this video, I'm going to offer the top 10 questions that I think are the most prudent on the Q&A. I expect that this Q2 call to be nothing short of what has been delivered previously. I typically like to review the transcript. I typically find that the value that could be had out of the Q&A all too often for me falls extremely short. I don't think that the analysts press good enough. I think there's too much congratulations on what has quite frankly been a dismal performance in the eyes of the stock market. Yes, marked progress, but certainly as a publicly traded company, we don't need to be celebrating what type of shareholder value has been turned back. Marked progress, absolutely. It is John's and Thomas' job to deliver those updates in a timely fashion. When I deemed 2023 as the Ice Age, this is something that we can all agree on. This is all something that for the patrons who have been catching the message and the updates over the last couple of years, I think everybody can agree that the 2023 year has been quite frankly a bridging year to hopefully something much more monumental and much more marked in way of progress. Here as we stand, we have a lot of old business and we are emerging into some potentially new business. What that is going to look like is anybody's guess. We've put initiatives in motion with the company. We hope that those initiatives come to fruition over time. We would expect more color on the call and we'll eagerly await those updates. But I've generated 10 of the most important questions that I think should be asked on the call. I will be not surprised to have these questions not asked nor do I expect that any of the answers will skirt at least the edges of some of these questions. My questions are pointed. They are business-like. They are not meant to impugn a company that I'm very bullish on with regard to their potential. However, to demand some level of insight on what has been a fairly light and lean 2023 with regard to the information that has been forthcoming thus far. Question one, what fleets will be receiving trucks? This will be an interesting comparison between what myself and Mr. David Mora, who has been a follower and a friend of the channel for a long, long time. He's a friend of mine. We both have been fairly scathing on Twitter and, rightfully so, we will not apologize for our constructive dialogue with regard to demands over the comparison between what was deemed the Hypertruck Innovation Council as many as a couple of years ago unveiled with a big cloak over the ERX with some sort of anticipation of what could be forthcoming through the Hypertruck Innovation Council. Me personally, I believe that that program has completely died and fizzled out. So my question with regard to who will be receiving the trucks will be a comparison between some of those initial customers, Wegmans, Schneider, Ruan, many of the others who have publicly demonstrated their interest in the Hypertruck ERX platform through orders that have been placed on the books compared to if there have been any new fleets that have been identified to receive the first iteration of the Hypertruck ERX for the control fleet trials. I think this is extremely important. We have no color on that as of today. And I think we can all agree here that these are some of the touch points that I think the Hylion community should be focused on. Now remember, the Hypertruck Innovation Council was comprised of 10 members. Hylion was one of those members, so nine of which were fleet interested, one of them A and G, which we have not heard anything from some of the original order holders, agility, very quiet on the line. So my understanding based on some of the Scuttlebut from Investor Day and some of the word on the street is that 15 fleets will kind of be in the ballpark of who potentially on average could receive one to two trucks on average if 30 of the original ERXes are turned out to the fleets. I would imagine a two average that way fleets can have an opportunity to introduce them to different rigors and different routes to extrapolate their data as they see fit. But it will be interesting to cross compare the original Hypertruck Innovation Council and any new fleets that potentially maybe were brought on. Monet comes to my mind, some of the Lafarge, some of the players that kind of came on after that were not part of the Innovation Council and by Thomas Healy's admission at the time, there was no additional fleets added to the Hypertruck Innovation Council because they wanted to limit it to the 10. And I think now is the opportunity to expand that out. And quite frankly, I don't think Hyalion is in a position to be turning away interested parties. I think they need to be doubling down and really taking advantage of all opportunities that they have out there. But who is going to be receiving those initial trucks or at least is of paramount interest to me. And I will be eagerly awaiting any color on that. Don't expect the analysts to ask. I hope they do. Some of the analysts that have come on the scene as of late have been very, very impressed. I'm always impressed with J.P. Morgan. I'm always impressed with K.N. Torff and Gerald and equally as unimpressed with Goldman Sachs and UBS with their two analysts who have covered the stock over the last three years, just my personal opinion. I just I don't think they probe as much as they need to. I think they're there. They ask a politically correct above-board question and then follow through with their downgrades the following day. They've been in a pretty good rut of at least maintaining their poor ratings on the stock. And Hyalion has done nothing but acknowledge those patrons as analysts who cover the story. Number two, status of existing orders after restructuring. This is something as of late on the Q1 call, John Panzer talked about kind of shaking things up a little bit and opening up the availability of the Hypertruck ERX to multiple fleets. But also looking at and this is something that Thomas Healy and John talked about with regard to the pass through of the higher cost made that has come through from the supply chain issues. Now this has been really, really interesting. Now I want to paint a picture to the subscriber base of a Hyalion in 2020 and 2021 that were no short of every month coming out with a 10-truck order, a 25-truck order, some orders upwards of 50 and a Depmar, which I think will probably be one of those that was not on the Hypertruck Innovation Council being named in the controlled fleet trials. I think they've earned it. I really think Depmar should be quite frankly number one. I don't think there's been a fleet out there that has been such a more staunch advocate of Hyalion and I think they need to be commended with their efforts. Now they've been engaged in fleet trials this entire time. They've taken ownership over Hypertruck ERX as well as hybrid units and they've been actively running those in the fleet and we'll get to that as far as some of the color around some of the data that's been extrapolated from the fleets. But I'm curious to know if the restructuring from some of those orders to Monet, Lafarge, and you know, 10 orders have come from some of the companies that we just haven't heard anything on. If in fact those restructurings have shaken some of those would-be customers away from the Hyalion opportunity or if they have been amenable to it. Now this would be a question for John. John's been very good. I enjoyed Sherry Baker. I enjoyed John. I think they've done a fantastic job both of them over the last three years of providing financial color around the company. But I think I would be interested to know if the potential pass-through for higher than average cost of product and input there has been accepted well by the industry, by Thomas's admission would need to be passed through to the end customer. And if it has affected any of those legacy deals or has slowed the receipt of any new orders with the increased cost to input and cost of components, et cetera, on the onset those costs are going to be higher than down the line here. So are customers as willing to jump on at the onset or just wait till those costs come down, assuming that Hyalion is going to work this thing through and allow those costs to be passed through to the original customers? I don't know. I think there's a competitive advantage to be had by those initial customers, but is it really advantageous for those fleets to jump on board now where the risk profile is probably as high as it will ever be with Hyalion as they start to work through issues, bugs, et cetera, things that weren't even foreseen through the product validation phase, right? So there's a careful balance for fleets to have to make sure that they're abiding by the mandates and incentives that are coming down the pike, but also not making decisions prematurely and ending up with a lemon that could have just worked itself out through the normal course and process of turning out the HyperTruck ERX. We will soon see. So the status of existing orders after the restructuring that John talked about on the Q1 call will be of interest to me. Number three, what will fleets trials look like? I'm really, really interested in what routes will be run, what drivers will be chosen, new or old, flat terrains, long distances, hilly terrains and distances. Will the hybrid actually play a part in introducing? See, I look at the hybrid as being the hilly terrain application and the ERX being kind of the over the road I-10, I-80 stuff, right? So I'm very curious to know what it is that it's going to look like. Is it just going to be here's your truck and it's yours after, you know, beat the hell out of it, give it back to us at all. You know, when you're done with it, like a piece of used toilet paper, I don't know any of that stuff. So I think once these fleets, and we know who these fleets are going to be taking receipt of the ERX is known, it would be super nice to understand what these fleets are interested in and why. I do appreciate Thomas Healy sitting in the cab of the truck and talking about the features and functionalities and the tests and the rigors and all that. But what we haven't been missing for the last three years with Hylion is and we've caught whims of it. We really have engineers from Budweiser that have showed up at Hylion who's given, you know, their take on the product and what it means, Monet, Debtmar Logistics. But we have been very lean on fleet feedback, third-party validation, all right? Now, Hylion is going to step forward and say, yeah, we've got the best product in the marketplace. Take it or leave it. It is what it is. It's a great product. What we've been lacking so far, and I think this is going to be a real catalyst for the stock, is once we start to get some reciprocation back to the fleet to say we're achieving this and we're achieving these milestones, 1,000 miles of range. This is the cost of input per, you know, per equivalent gallon of diesel of CNG in these rigs. This is the cost savings that is hitting the bottom line for us. This is what we anticipate to be a total cost of ownership calculation over the life of truck. We have been absolutely left in the dark in this and you wonder why the stock is recessed to the sub $2 range is where it sits right now. This is why the market doesn't know how to value a company that is burning through $130 million per year with no promise. We've capped $2023 off at $10 million. Let's start looking at $2024. Is it going to be another $10 million a year? Is it going to be double that? Is it going to be triple? Is it going to be 5x? Are we going to start to look at $50 million, $60 million, $75 million, $100 million of top-end revenue? Yeah, I don't know. Those are pretty lofty projections, but that's where we need to go. And when we've capped $2023 off at $10 million, that's a drop in the bucket when compared to the capped x that we're working against. So what will the fleet trials look like and like a little bit more color around what that's going to look like and what type of data can be drawn off of that, how long it will last, the duration, etc. etc. What it will look like as far as incentives for follow-on orders. Will there be incentives or deals? There has to be something that is sweetening the pot for these fleets to engage so early on with Highly On for the reasons that I've already mentioned in this video. Number four, what is the current priority of the company? I'll let you think about that for a moment. When I entered into 2023, I didn't know how right I would be in deeming 2023 the Ice Age for Highly On. It has been one big neon green iceberg for 2023. Very little news. Conferences, yes. I get it. Little tit bits here and there. None of which has moved the needle. Continued retraction and devaluement to the company. Company currently sits less than value of cash on the books. So the questions that remain in the marketplace has Highly On continuing to burn capital against what is an unknown on the top end. So what is the current priority? I talked a lot about Karno during the ACT Expo. It seemed to me based on some of the sentiment that I received from Silent Alert who gave the best report out from Investors Day, the one that I resonated with the most. It wasn't all roses. It was just a neutral report on what he thought, what he was disappointed about, what he liked. I like that. And for me, it seemed like they were focused on Karno when the ERX is supposed to be right around the corner. How does the Hybrid EX play into that? How does the collaboration with Hyzon Motors, who's just been on an absolute tear in the marketplace, thank you Highly On for throwing a lifeline to Hyzon. Great for them. And great for the share owners of Hyzon. I am one of them. But interesting enough, really want to understand where the renewed focus, if it's a three-tier monster on this, we're focused on stationary power just as much as we are the Hypertruck ERX rollout. So be it. But just say that. Say what your current priorities are, because in 2023, it has been a landscape of desert with regard to information on where the strategic direction of the company is. We are following a road map along to something. What that something is probably could use a little bit of color as of late. Number five, what is the truck's MSRP? I understand it's difficult. I understand the reservation in not releasing the information. I want it. I want it. Whether or not I'm going to get what I want is yet to be seen. I'd like to know what the truck is going to sell for. Analysts cannot make any type of calculations, any type of presumption on any type of potential revenue if Hyzon has no idea what their pass-through is going to be and what that MSRP is going to look like minus incentives or inclusive of incentives. And if we don't know, the market doesn't know. And as I have proven many, many times over, no news is worse than bad news in my humble opinion. I keep coming back to Nicola Motors and I can't remember a lot of milestones that have been horrendous along the road that has been Nicola Motors. And I can't remember a worse time for the stock to go on a momentous run from the absolute dungeon of 52 cents. And in the face of such poor news, I'm dumbfounded in how that happens. Now, the Nicola bulls are going to say, see, I told you I was right all along. No, you weren't. If you're doing any type of fundamental, neutral research on the company, like Excalibur talks about and also challenges the Nicola bears and bulls to provide sufficient data, this has been just a hype train all along. This has been a hype run for no reason. If they don't make the vote, if they do make the vote, share count goes to $1.6 billion. That's insane. And it's going to be a new dilution of share owners to pay management in a capacity where I don't think they've earned the pay. That's just me. But the MSRP is something that I would like to see some color on. Do I have anticipation of those being released? Absolutely not. But it does not hurt to ask those scary questions that of which I do not think they're going to be asked on the call itself. Number six, will cost cutting initiatives be enough? We are currently working against a cash burn of 130 million. John Panzer talked about curtailing some of the spending, some of the R&D will start to roll off through 2023. The spending is going to remain fairly high, starting to get a jump on some of the components. He talked about that on the Q1 call. Not very aggressive. If they can get the cash spend, let's say down to 125 million, I say that tongue in cheek and I can't help but laugh because against their top-end revenue, it's anemic and that the disconnect between those two pieces of metric cannot be understated. They can be gleaned over and I expect John Panzer and Thomas Healy, both the glean over it, you'll be more informed to understand when they're giving their financial remarks. And Thomas Healy is talking about how great things are at High Leon to understand that this company is burning cash like no tomorrow and they do not have any type of forecast for any type of meaningful revenue in the short-term to medium-term. You can argue with me all you want. There's been a few friends in the community that are steadfast bulls in the company that I don't think are as critical and as acknowledging as I am on this fact. And it is a fact, my friends, that this company is burning through capital like no tomorrow and I think the curbing of and the spreading out of the hyper truck and not devoting a few trucks, a lot of trucks to a few fleets, rather a few trucks to a lot of fleets is going to move the needle with regard to my concern on the current cash burn. It's the reality of the current situation. I would, I will be eagerly awaiting the financial results. If John Panzer can navigate this time in this early company's inception, I will give him all the accolades that he will deserve to have taken a company that has this big of a disconnect between their debt obligation through their capital expenditures and their current revenue as we speak now at the time of this video. It'd be fun to review these videos at a time when we're supposed to cap out and a year-over-year revenue projection and increase of 100% from last year. Actually, probably more than that, a 4 million to get about what, 120, 135% increase year-over-year is still not going to move the needle when we're talking about finishing 2023. And if that includes a Q1 of 2024, we're talking about some serious months here of treading water against a very serious cash burn for a company that is supposed to be a very light business model. And for a light business model to go even lighter on their approach, I kind of cringed a little bit and I thought, well, and irrespective of the money that they spent for Carnot, their cash burn is quite hefty for the revenue that they're bringing in. Is it normal? Is it on-track? Is it off-track? Do they know things to understand that when we move from the pre-commercial state to the commercial state that these things will pan out, and we will be at that 50, 75? Once we hit 50 million, I'm good. 50 million, I'm good. They can lose for five years after that. I'm good. Stock will be at $50, $100. It doesn't matter. Why? Because at that time, I will have understood that they have the ability to generate meaningful revenue. 10 million doesn't move the needle. It's not meaningful. It's not meaningful. So my question and my call would be very, very simple. John Thomas, I would ask you to comment on the current cash burn as it relates to your current top-end revenue projections for 2023 going into 2024. Are we going to have any type of relief on closing the gap between the current revenue projections and the current cash burn? And the question is related to some of what I read between the lines as a little bit of acknowledgement of concern about just remaining on course and continuing to burn cash to zero and then looking at it and saying, gosh, we really don't have, we need to raise capital, right? Will the cost-cutting initiatives be enough? That's question six. Seven, what is the projected conditions of margin loss and contraction? Okay. John gave an estimate of a 10% margin loss on the original units that will be turned out to the fleet. I think this is a positive. I thought they were going to lose significantly more. Doesn't mean they can't. We need more color to understand whether or not that has expanded in its projection, contracted a little bit if we get lucky, which we won't. The cost of the input for these initial units, I can't even imagine. That's why the risk profile is so high right now as we speak with Hylian is that they're paying enormous amounts for these components to get these trucks built out now. Whereas when these components go in, every dollar that goes into buying a component now in bulk will help out in the ramp up to commercialization, which will be a catalyst for the stock, margin improvement, getting into positive margins. Right now it's horrible, but has it worsened? Has it remained the same at the negative 10% or has it improved? That would be a question for John. Number eight, will Hylian require debt financing and equity issuance? I'll answer this for you. With the current status quo with Hylian, the answer is yes. The question is when? I presume it to be inevitable. And acknowledging the neon green elephant in the room now will probably be in everybody's best interest as opposed to being surprised when they've burned through and have remained on this trajectory of burning cash. This company has burned close to $700 million. The current cash on the books is getting down to an uncomfortable level for me. It's not uncomfortable for Hylian because they look at it like the pre-stage of getting them from pre-commercial to commercial. The question is, and I'll touch on this, will there be enough supplement to make that transition to actually being self-sustaining and not taking hundreds of millions of dollars of initial SPAC money and just completely blowing it on a pipe dream? Some things to think about will Hylian require debt financing and equity issuance? I believe the answer to that to be yes, whether or not it comes at a strategic time, whether or not it comes from a position of strength, i.e., a $7 or $8 stock price, not a $1 $70, $8 stock price, which is just absolutely stupid. They'll return back very, very little value in that. So the timing of that and the answer, if I answer the question on the call, if I was ballsy enough to call in, which I got them, I'm not sure if I'm quite that ballsy, is to ask just that. And I think the answer that I would get if I was going to speculate from John Pancer's point of view is that everything is fine. Currently, we have no plans to raise any type of debt financing or share issuance in the future. That will be the answer if I ask the question. However, I think share owners need to take a little bit deeper acknowledgement to what I consider to be an inevitable bridge that will need to be crossed eventually with the company. It's inevitable. If they can't change the current trajectory of what's going on, it's just going to be more of the same. And they're going to end up in the same camp as Nicola Begging share owners to continue to dilute the share owners down for this inevitable continued dream that they have of turning out commercial units in 2040. And when do you pull the string? When do you start asking the questions? I insist that the time to start asking those questions is now. Number nine, what is the current pulse of the fleet interest? Just to think about that. 2020, 2021, 2022, Monet places orders, Lafarge places orders, 10 orders, orders coming through from legacy customers, 50, 75, 100 orders separated from reservations to start build against a queue 2023 has been dismal. It's been absolutely horrible. Why? Why has the interest diminished? I can't count on, I could probably count on the number of times that I heard Thomas Healy talk about the overwhelming interest in Healy on through 2022, nothing in 2023. And now we are stuck presuming that what, that interest still exists. Does it? Is it still there? Has it diminished? Will it reinvigorate? Are there customers waiting on the sideline? Why? Will there be future interest from fleets? Will there be follow on orders? A lot of this stuff is somewhat speculative on my camp in that it's hard to believe that what we know about the hyper truck ERX getting into the hands of some of these fleets and having them experience them firsthand won't result in follow on orders. But tell us, what are you hearing from fleets? Has the increase in the supply chain issues drove the TCO to a point where it's just not worth it? If it's not worth it, fleets will come back and they'll cry. They'll cry wolf on the incentives and the mandates. They'll cry or they'll take whatever penalty the government has to dish out to continue to run their business the way that they know and have become accustomed to over the last 100 years. They'll take the penalty. They'll continue to run diesel. They're not going to take a leap of faith if it's not economically viable for these fleets, irrespective of how good it is for the environment. These fleets will not play ball. They will not play ball. And I have always talked about highly on being a two tier monster, driving TCO for fleets as well as being a net positive for the environment. Now the TCO over the last couple of years has been nothing but diminished. Nothing but diminished. Extending the time that the highly on hyper truck YRX needs to be run in the fleets beyond perhaps maybe even the service life of the truck to a point where is the mandates going to be enough to just have a wash between diesel and hyper truck and the incentive to go green be strong enough to drive top end revenue for highly on. I don't know. What are the fleets saying? I have no idea. You started this project. Tell us where you are with regard to fleet interest because again, I fall back to the neon green iceberg that I have deemed 2023 to be and it has been just that very dismal, very poor performance of delivery, very, very lean with regard to information and transparency to share owners. And I will continue to be scathing in my constructive criticism of highly on until they can clean this up or find some sort of reason to generate some level of excitement around their product right now, because I can tell you right now, the sentiment is low. The bulls of the company are going to come back, which I am one in that and they're going to say they're fine. Everything's hunky Dory. They're good to go. Stop your complaining, Ryan. I merely am looking to just suggest that 2023 has been lean. Those people who are reasonable like me and are watching the same story as I am, they would agree with me. They would agree with me. There's a little bit of naive complacency with regard to blind followership on this. And I am a little bit critical of those people who just say, Hey, everything will be fine eventually. Okay, I think we're owed answers. And I think we're quite frankly, very overdue for some of those answers with regard to treading through 2023, which has been a nightmare to be honest with you. Excuse me, what is the current pulse of fleet interest? That's an interesting one to me and something that I'm continually looking to gauge. And I think should really be made more available when the fleets are able to take receipt of the first iteration of the product. Number 10, then we'll close it down for the week, guys. Number 10 is the most important. And if you've stayed with me, I think you can all agree. This has been something that I have really, really revolved around. It is something that I watched like a hawk. I'm a bullish share owner in the company. I own a large block of shares. I bought 500 more shares this week. I just think that the stability here at the stock price is quite frankly, setting up to be a catalyst in the north. I think it'll be a catalyst to the upside. I think we could get it as early as this earnings call. Don't quote me on that because I don't think that's going to happen. Don't be surprised. I would also really encourage shareholders of the company to keep a fair perspective when we're talking about these quarterly calls and not expecting too much. Keep it in perspective. The company still has a lot of work to do. And between now and the Q2 and the Q3 and the Q4 calls, we're probably going to get measurable progress in the company no more and no less. I expect things to accelerate. In 2024, if the roadmaps and the stars have aligned the way that we have monitored them align the way that they have, but we'll just have to wait and see. And making sure that we're patient and keeping a good perspective about this opportunity is incumbent upon all share owners. Number 10, important, the OEM integration and the status of the OEM hub. I put a lot of thought into this one. I don't believe Hylian exists without OEM integration. You can beat me up. You can hate me. All you want, that's fine. It's social media. You don't know me. The people who do know me will take note of my comment. I don't think without OEM integration, Hylian exists. I think they fail. They will not be able to sustain their business working out of the Austin facility. This bridge to commercialization from precommercial to deliver the first 30 units. I'm neutral to negative on that initiative. That's what they have chosen to do as a bridge to something grander. And that's something grander is to partner with what they have conceded to be and have communicated to share owners to be a strong relationship over the last three years with Peterbilt. I want you to think about a couple of things. Do you think that Peterbilt would have allowed Hylian to showcase their hyper-truck ERX with the Peterbilt logo on the front of it this entire time without some level of reciprocity on the horizon? If you have further comments on this, I'll hear them in the comments section because my comment section gives me insights from a lot of different people who cover the story. They appreciate my candidness on the story. They know that I'm vested in the story. Yes, but I love doing the project. I really do. And it shows in my weekly deliberation around this story. If I'm missing something, please let me know. But I just don't think with the mandates and incentives, especially the mandates that are going to be placed on the fleets and the OEMs, that there hasn't been some sort of agreement beyond a strong commitment or beyond a strong relationship. This is all we have thus far to understand how Hylian may potentially integrate with Peterbilt at some point down the line. But where are we with that status? Because Hylian is built from a perspective of boxing up the powertrain, sending it to the OEM and having the OEMs deliver the final product to the customers. Now, is what we know about the chassis going from Peterbilt in Denton to Austin to have it fitted with the product and then sent back to Peterbilt for final validation only for final delivery to the customer enough for us to presume that that relationship will take that critical step in the direction in that the Austin facility, guys, is operating as that OEM hub. Make no mistake about it. And the fact that the final iteration goes back to Peterbilt for the quality control checks, right, only gives me the bullish conviction to understand that this is a step in the right direction with regard to OEM integration. That's wishful thinking, Ryan. Ah, you're being too presumptuous. Perhaps. But this is a topic that demands our attention. It garners our attention. And if you're a shareowner in this company or you're interested in becoming a share owner in Hylian and understanding how they could reach the masses, it only takes place through the assistance of the OEMs. That's it. The way they drive margins down, the way they can supply the warehouse in Austin with just parts and components for the powertrain. They are not an OEM. They are not an OEM. They will be for the Carnot. We haven't discussed that. Okay. They will be an OEM for the Carnot. Absolutely. They bought the rights to it. Thirty seven million dollars. They will be an OEM for the Carnot. I have no doubt about it. They will benefit financially for it. But as far as their powertrain solution based on my best estimate on putting this three year project together as we've evolved to now, the OEM integration is the absolute key. And do we have enough now to presume that inevitably, at some point, six months, one year, two years, five years, that will happen. From now until then, I will be anxiously awaiting any color around this because I think it is the critical component. If Hylian announces or Peter built even better, announces collaboratively with Hylian that they will start offering the Hypertruck ERX coming off the line, I will sit back on the sidelines and I will laugh my effin ass off. I will laugh my effin ass off with a drink in hand, I might add, because that will be a momentous catalyst to drive this stock. However high it will go. And I want to warn shareholders out there. I've seen this through the evolution of the sheer price going through its fits and spurts, that there will be craze buying on this. There will be people who are selling the stock on the upswing when it eventually happens because six months, one year, two and a half, five years, I'm invested in the company from a bullish perspective to understand that this OEM integration will eventually happen. If it doesn't happen, this project is for naught. And I hate to be an asshole. There's people out there who are going to be like, yeah, they can survive in Austin doing a garage sale of 40 ERXs a year. It can happen. They'll go out of business. They'll go out of business or they'll become a stationary power business or they will become a generac business with their Carnot. They will not be a powertrain provider by providing that as an OEM in Austin. It ain't going to happen because this is super inefficient, taking the chassis, building the trucks out to spec in Hylian, sending it back to Peter Bilt, extremely inefficient. Some of you guys might disagree. I think that's extremely efficient. I don't agree. However, is it a bridge to something better? I think that's the open-ended question that we need to be focused on as we enter into this quarterly call for Q2. My anticipation for the call is muted, neutral to negative. My expectations are low. I apologize for that. Some guys have come onto the channel and they're like, you're an asshole on Twitter and you're a bull when you do your Hylian videos. Go fuck yourself. You do not know me. I have an agenda with Twitter. You know how much I've made on Twitter since I've done the Independent Investor Channel? Zero. Zero. Twitter is a toilet. It's a direct conduit to ask questions that I will not ask on a quarterly call. Why? Because the wavelengths are taken up by the idiotic analysts who refuse to ask these questions. And if Thomas Healey ever had a few spare moments or their review team to know that there is a small pocket of social media as devoted as me to put this message out, these are the questions, my friends, that need to be asked on this project. Make no mistake about it. I will not apologize for putting pressure on and being constructively critical of the company. Furthermore, don't presume that you know me. Get some independent thought for yourself. Understand whether or not this is a project for you or not. Understand whether or not you want to take ownership in the company or not. I'm not your father. I'm not your friend. I am a social media influencer. That's it. And I think there's an opportunity here. And I think it more now than I thought last year and two years ago and three years ago. I wouldn't want to go through it again. I love where we are now. I love the setup. The setup is there. All we need to do right now is really just have some follow through on the opportunity and make sure that we are monitoring these elements that I have disclosed to you now. Guys, if you're new to the channel, I'd invite you to subscribe to the channel. If you don't like my message, you can unsubscribe to the channel, piss off. I could care less. I'm a little bit different with my social media approach. I could do 7.23 minute videos and get lots of views on these. I do long videos, discussion, podcast style. So you can understand my insights, my thought process is through it. If you don't have the attention span of a P, my channel is not for you, get lost. But if you do resonate with the message, I think we're sitting on some ground floor investing that could potentially be life changing. I've felt that way three years ago. I feel that way now. The scary question is, are we going to feel that way in a year? Are we going to feel that way in two and a half years? Are we going to feel that way in five years? And dare I suggest, are we going to feel that way in 10 years plus? Which is what I think is going to be necessary to see this project to an end. It will be a long and winding road and 10 years highly on will be a company that we do not even recognize. Mark my words now. It will be a different company if it is even made it. We will know more after a year. We will know more about the floor that we stand on in two and a half years, five years. This is a long term investment. I have no intention of parlaying my shares. I'm a share owner in the company. I was then, I am now, and I will be in the future. Leave your comments at the bottom of the video guys, share the message with anybody out there that you know is interested in straightforward candid discussion about stock market investing. Appreciate you guys tuning in for the totality of the video. Guys, thank you so much. I appreciate you and good luck in your investment future.