 Hello everyone. Good afternoon. I'm Stefano and I'm from Cabit. We're making the future of cloud storage and we are doing that with the team, the Italian Lady Telco. So did you know that what we call cloud actually consumes as much energy as Brazil? Yes, because cloud is centralized. Everyone's file is there and the data need to pass through the same data center over and over again. Result? This is very expensive and who gets charged? It's all of us, of course. We pay when we use cloud storage like Dropbox. We pay when we purchase web services for our companies. Think a second. Paying for storing your personal documents isn't fun at all like it was paying for emails back in the 90s. That's why the free-to-premium model is still stuck at a 4% conversion rate. We can't do better. Cabit is the fourth distributed cloud. We build a no-data center because we crowd-source servers directly from our users. Our technology enables the fourth forever free cloud storage. Yes, you perceive Cabit as a Dropbox that never forces you to pay but way you remain the only owner of your data because we don't even know your credentials. How can you get all this? You can try that online and then to unlock your uncapped cloud storage, you just need to plug a small server to your home router. Now, you are part of the peer-to-peer network that we call this Worm and our business model is triggered. We attract the new users with free cloud. They grow our distributed data center and then we use it to monetize by selling corporate web services at cheaper prices. Every month, one single peer costs us just 20 cents to manage, but it can generate revenues up to $11. This margin is the base of our scalability. And now our core technology is ready. I got it on my laptop because our Alpha test has been done with 50 developers around Europe, included us of course, four co-founders. Marco is a full stack developer coding season was 12, Lorenzo is a data scientist and business side, Alessandro and I have previously created the start-up day, the most attended event on academic entrepreneurship back in Italy. We have been working two years and raised 150,000 euro and we are now empowered by three very skilled mentors. We are in partnership with team, as I said, because we are starting how to embed our software in the million routers they manage. Very importantly, our team could grow up to 19 minds and all together, this Sunday, at the European Make a Fair in Rome, we are opening our public beta test. We are here because we are raising 450,000 euro in order to validate our B2C and B2B2C strategies within the next one year. It will be an honour to have you on board. Thank you Stefano. Let's start to move on to the questions and discussions. How was that? Thank you very much. I like the impact that you have. How do you plan to displace the existing players, Dropbox, Box, so on? The point is, they are actually creating the primary demand because Dropbox was set exactly 10 years ago. Dropbox was an entry-wide combinator, so cloud storage is pretty new and they're like investing a lot of money to make people aware of the cool features of the cloud. We're intercepting them and we're starting from Sunday, exactly when they are forced to pay, so when they get close to the cap for Dropbox, for example, with 2 gigabytes, that's when they feel the pain. And now 96% of the people do not want to pay for that price, so that's exactly when we're going to offer them the forever free cloud storage. Could you speak a little bit more about how you plan to acquire customers and go to market? Go to market, yes. I got a slide for that, a backup slide. So as you can see here, we're on the left side and we're making our first community with makers because they already have all the CPU that we need, that Raspberry Pi 3, the same thing that I already got back home. Once we got two main strategies, as you know, a startup is looking for the correct business model with two big options, a B2C and a B2B2C. B2B2C is already on with team, so we embed our software into devices that we already own. It's not just routers, it can be TV set-up boxes with broadcasters, it can be NAS, it can be smart home gateways. The B2C is making a plug-in cloud device that people can purchase. One important aspect of cloud storage is, of course, stability and sort of monitoring, making sure that data is always available continuously. Can you just explain a bit on what the impact is with the distributed setup? So I have some... So this is when you plug your file into the CABIT folder, it's on the folder, what happens, it gets to your CABIT, and first of all, it's encrypted with the key that only you have, so we can get to your files. Then we split it in four parts, sorry, in 24 parts, and we make it redundant in 36 pieces. The cool part is that when we spread the 36 pieces around our network like that, we just need any 24 out of 36 of them to recover the files. This means we have some statistics about it, it's like impossible to lose your files, and in our beta test, we got statistics, because all the peers are always on as they are connected to the router. So have you looked into the IPR space? I mean, the patent landscape, have you patented something or is this patented by others, this kind of space? Good question. So we are 100% software, so as you know, software has all the copyright lows, but you cannot patent software directly. What we can do, there's some options, what we can do, one option would be to make in a plug-in cloud device strategy, we can patent the whole thing, making our property hardware. That's exactly what we're going to explore very soon. Maybe speak a little bit to the kind of regulatory landscape as well, because obviously with GDPR coming in, data storage is very, very hot right now. How do you kind of navigate that world? So we have made legal due diligence, and the result is super positive. So we have two different kind of, one of the reasons why we started from Europe, apart from the fact that we are probably European, is that the US legislation is pretty different, and the European is better for that. That's one of the reasons. So yeah, we took that into account. And thank you, Stefano. That's about the time. Have a good day.