 Welcome everybody back to the channel. There'll be a couple schools of thought here in reaction to this video. One will come from the bulls and they will say that right on Ryan, you're the man. Keep on, keep on, keep on keeping on with the message and the bears will come over the top and say Ryan, you're too optimistic. Ryan, you're sugarcoating what's going on here in the current environment with highly on. In response to both parties. I think both parties need to chill out and drive back their perspective on what this is. Those on day to day have been very, very busy looking at the landscape since the to the quarter to call I thought it prudent to provide my reaction to the queue to call lend a little bit of perspective on highly on holdings as a whole. Some of the topics that have been floating through the social media landscape and reaction to the latest downgrade from Goldman Sachs and what that could potentially mean, if it means anything. Talk about the current value of the company and whether or not the CEO Thomas Healy should step down from the company. I'm going to address all of these and then some and hopefully by the end of this video you have a little bit more peace of mind about what it means through the opportunity to own stock. What highly on has done since coming to public markets through this back process. What was to be expected from the company and what we are expecting going forward from the company. So we're going to talk about and then some in this devoted reaction to the queue to earnings call that was just summed up at the beginning of this month here in August. The queue to call I will start with my reaction was as predicted very low expectations muted to neutral neutral to negative on the reaction and highly on delivered on that front. Very very simple. So I'm going to start with my reaction to that where a lot of people are talking about the percentage of top line revenue reduction is muted as far as I'm concerned. Their ability to generate revenues now based on hybrid earnings is irrelevant to me. Truly the merit that I gather and garner from their current customers everyone that is earned through hybrid sales now is a net positive for the company. But as far as the bottom dollar and showing a quarter over quarter sequential drop means absolutely nothing to me. And here's why. In the face of what has been a horrendous time period for not only highly on but the grander EV space and the even grander stock market. I think the start of this decade has been absolutely horrible. Overshadowed by a beginning of 2023 that would have investors believing that somehow we're going to have a soft landing or no recession at all I'm not in that camp anymore. And we're we're quick to jump off of the recession bandwagon. We will be quick to jump back on the recession bandwagon here shortly as the wishy washy commentator that comes through the social media is quite frankly only aimed if not aimed directly at just providing propaganda. I don't see headlines in all of the negative commentary that at the bottom suggests that they're 100% certain that you should just sell stock right now and dive headfirst into your prepper bunker. I've never seen anything like that. A lot of negative commentary coming off of two negative weeks here but in the face of what this young company is trying to do. You can look at it one way or the other and like I said I'm in a tough position where I get scrutiny from the bulls and the bears on this company when all I'm trying to do is offer a commentary on the company. No more no less I enjoy covering the company where it is socially acceptable for me to own now AT&T for over a half a decade, only to see the stock down 23% and accumulating more debt over that time frame yes paying me a nice systemic and dividend so I can increase my shares in that shitty company. See that's socially acceptable but when you take a speculative position in a company like highly on. We often look at it with a different lens in that our expectation of highly on is that they do X, Y and Z. Within a finite time period now to highly on discredit offering the original investor presentations with those projections, but don't sit well with a lot of investors, I am one of them. Okay, but there is a difference between looking at it diplomatically and looking at it with emotion. If it is your thesis enough to look at that information, look at the current management, look at their inability to drive sales I'll talk about that just a second. Whether or not you think that the future potential is somehow affected by those past projections, sell the stock. Don't own the stock. I think there's very few people out there that probably hold what I consider to be the necessary tolerance to even engage in this level of investing anyway. Those people out there that truly don't do understand the perspective here they will clean. Not a wishy washy back and forth approach from me rather a tried and true steadfast message that looks to shed light on a company that is bringing products to bear that I think is going to make a difference. Now, if your perspective is that highly on product is going to fall dead on arrival. That's your opinion. If you're of the opinion that these last two certifications that highly on has that are pending will fail to be achieved. You're entitled to your opinion. Those would be devastating for the company who has worked so hard to bring what I feel like is a monumental product to a marketplace that desperately needs that product. Now, if I made that statement over open ended and we did not have the incentive credits is one thing, but the looming mandates is significantly more impactful or potentially impactful on both the OEMs and the fleets alike. Where the government is putting an end cap on just a company like EV, like highly on in the EV space, coming to bear with what we can kind of all agree is a good product at least in the bullish community. The bearish perspective on it is such to say that the product for whatever reason is a bad product. I don't share in that sentiment at all. But if the story were to be, look, we've got this beautiful product and we had an open ended market that really did not have a sentiment change looming and a potential for a paradigm shift. Now, if highly on fails to leverage an eventual paradigm shift in the industry and or the paradigm shift never happens. In other words, a real acknowledgement to the importance of shifting to an electrified future highly on CEO Thomas Healy has been steadfast in communicating with share owners that the industry is hungry to move in this direction. And I believe that to be, I believe that to be the case. Now, whether or not my expectations or my belief in that thesis would suggest that they're going to be there next month or six months down the line is it is up to me to draw on where I would put the goalposts in starting along this line of integration of EV to the class eight space. But when we are talking about a company here that is three years into its inception, I find it very ironic that the rhetoric and the Scuttlebutt now in social media is dominated by negative sentiment. Negative sentiment. It's negative. The CEO should step down. I think exacerbated potentially by what was viewed as a very negative quarter for the company Q2. I sit back and I look at the Q2 expectations and I think it was a gimme quarter. In other words, highly honest progressing toward an end. Whatever progress toward that end could be shared on let's say a Q2 call to share holders, great and plenty. But my expectations were extremely muted going into this quarter call. Again, the bulls and the bears, those who are hypercritical of my message would again suggest that I'm glazing over a shitty quarter. So be it if you think that it was a poor quarter, or so be it if you think that they should have shared more progress. So be it if you thought that they should have shared X, Y and Z and that you were disappointed that they didn't share X, Y and Z. At the end of the day, Hylian chose not to share those details and it's their prerogative to do so. It is your choice to either do or not to do in way of investing in the company. Choose not to invest. You can go find something else in your life to either find success in or fail at. Okay. And it brings me to my perspective about this company. People are not happy unless they are either go or no go go or no go go or no go with highly on holdings go or no go. We get a little piece of news, you get a little momentum in the stock, we are a go to the company, we are a go. Hylian, we're all go to the moon. The next price target is $5 and then 10 and then so on. We're a go, we're green to go. We get a little retraction in the price. We go through weeks and months. Do I think they've been as transparent as I would like them to be? No. No, they haven't. But that's what they've chosen to do. Does it mean that the company is a bad company because they're not providing critical optics, what, every three days? I mean, you name the frequency guys. Okay. Name the frequency by which you would expect this company to release information on. I have stopped tweeting. It irritates people more often than not. Hylian has chosen to go into kind of a lean period right now based on whatever calculations that they have to do so. And I've always contended that 2023 was going to be a bridging year. But when we lose track of this being at its core and investment in stock, my feeling day to day now is numb. It's conditioned on owning this company. It feels as if this company will never go up. And I'm willing to write it to bankruptcy, because there are certain people out there that would suggest that bankruptcy is a foregone conclusion. The bears on the company would agree, go Ryan, you're the man. Perhaps it goes bankrupt and then the world is a better place because we don't have the Hylian solution or the Hylian solution was destined for greatness and it was mismanaged on its way to commercialization. I don't know that that's a very realistic expectation and I won't be surprised to see this company fold up shock. Take down their revamped website. Recall every hyper truck ERX that they've ever put into fleet service, sever any tie that they've ever made with any of their hybrid customers that is kind of a sleeping bear as far as I'm concerned with who they've done business with how happy they are with those products. Their relationships with their customers, which if I was going to just give you a synopsis over the last three years has been nothing more than nothing less than positive. I've never heard a negative about the product of the last three years and I've, again, I'm not trying to be. I'm not to be jaded in my sharing of my opinion. That's just what I glean from the information that is available on this young company that's been around for three years. Is that they have made some penetration as small as it might be. But that is marked progress toward an end that we are not at yet my friends. We are not at that end. That certification has was completed as declared by Thomas Healy the CEO. There are two pending carb and EPA certifications that are on the horizon that are critical milestones. They are the next checkbox in the road toward commercialization. Until we get those certifications, dare I would remind you that there is no product to sell. So where they were able to turn in 244 K on the quarterly top end revenues, we are still left with a $10 million redoubling down and readdressal for the years in 2023. I'll leave that revenue projection alone for just a moment. Do I think they'll do 10, I don't know, based on highly ends track record to forecast what they're going to make and what they're not going to make. I don't know why it's so difficult, but I also want the same token. Don't truly understand why people are looking to value value this company right now against their current cash position. There was a few tweets that came through on it being valued less than cash. I agree with the bear camp that it is absolutely fairly fairly valued right now where it is a company does not sport a valuation based on a cash position that is constantly being deteriorated by cash burn. It's just that simple. Highly and highly highly on is on a trajectory irrespective of its potential to continue to erode its share price until they can figure out a way to write the ship is 10 million going to move the needle. No, is a slowed cash burn trajectory going to slow the needle. John Panzer talked about the slow cash burn going forward and at least an acknowledgement of trying to slow the cash burn I never thought I would say that because in respect to the total addressable market and the opportunity with this company. I never would have thought that the 130 million of cash burn per year would have been a problem because for a company that's looking to sport, you know, mid cap or did sport mid cap valuations and and potentially be an industrial player. I look at highly on if their opportunity does play out on the bullish thesis to settle out at about 10 to 15 billion and its valuation. And with the company currently valued where it is at what 330 million something like that 300 million which is just a little bit less than the cash that was declared on the books this quarter. There's a long, long way to go and highly on has done a pretty awesome job of driving down current sentiment based on market conditions. And the area that I suggest that it's highly on his fault. It's just that's how things have played out as a company. I know if you would ask any of the upper management or ask Thomas Healy or or any of the upper management team. Hey, would you rather have a higher stock price now all of them would say absolutely we're all working diligently to to achieve that end. But at the same token, I look at this company and I don't believe that they've earned it. What does that mean for future projections I want to run you guys through an exercise and I think this will be fun to do in separating what it is that you understand about stock and entry prices and cost basis. I want you to imagine this company at $20 a share. Okay, $20 a share down to its back offering of $10 will be the two milestones that we will use as well as the floor of zero. This company to the best of my knowledge is not going to go below zero. In other words highly on is not going to be sending us a bill to start paying to own the shares in the company, right. The bill on the right side of zero, and I would contend that we will remain on the right side of zero as we bounce along the floor. You know, I cover companies as low as one cent. Last quarter, that company that is trading currently right now on OTC markets trades for one cent. They made 14 million last quarter 14 million. The company is has a market cap of two and a half million. And it's been around since 1997. It's been reincorporated within the last three years but the company's been around for over 20 years. Okay. Not to suggest that highly on will follow along that same path of demise, but I do want to define that that floor at zero. There's a long way to go to get to that floor between the current stock price of $1 30 and zero. Long way to go. Lots of divisions of zero. The dollar thresholds, the dollar threshold will be a sentimental or, you know, kind of a monumental threshold to break. And then the floor below that, again, highly on seems perfectly willing to exercise the demons with regard to testing new floors every week with the stock and they don't seem concerned about it. What people would say that there was a sentiment sense from Thomas Healy that there's somehow fires at highly on. I didn't get that sense at all. I just think he calmly talked about current market conditions and and and there's really nothing to be satisfied with. The company has to continue to trench on and do what they need to do. But the $20 stock price $10 stock price and the floor of zero. Okay. I want you to imagine a red line going down on the stock chart for highly on from 20 to $1 30. And I think we can all agree that that trajectory. Has been, for the most part, on a downward trajectory. If you look at the chart, it looks like a slide at a playground, a red slide at that. So from 20 to $1 30, we can all agree that it's been on somewhat of a downward trajectory. Okay. Now, I will mention that over the previous few months, it's been kind of a kick in the nuts to see the last month accelerated downtrend in the stock. But we have yet to test the dollar 25 full all time low that was put in some many months ago. And I didn't think we would retest that again. If we do, I would suggest the company will exacerbate selling lower because I think there's a lot of people out there that are just fed up with the company altogether. They watch the quarter and they want to do something and that something is to sell the stock. I think after I run you through this deliberation, you're going to understand a little bit more about how my mind works when it comes to entry price of stock entry price of stock. What does that mean Ryan 1812 1572 1340 10.11 9.62 6.78. These are all dollar amounts. Okay. And on this trajectory in this line of downward trending highly on stock each buy point is a point on that line. Okay. Now a lot of people have a problem with using a little bit of imagination in understanding what that share base or that. Lowering of the entry point actually means okay with each lower by point that point above actually lowers that cost basis but for the sake of example we're going to leave the 1782. We're going to leave all of those points right on that line. Okay, for me I've got about 25 by points along that trajectory buying all the way down. Okay, none of those bought by points based on what I can tell there was a few that started to eek into the green which is what we all want. And what I mean by that to share my insights is if we put dots on each one of those by points as we go down at the price that we paid irrespective of the amount of shares that we bought at that specific by point. And we take and we draw a red line across that chart charts always start, I guess, from my perspective you can kind of see that I'm working opposite. If you're looking at a chart left to right, we can see that down trending line there that is read, and that each one of your buy points each one of us are going to have different buy points on the way down. If you draw a parallel line across each one of those buy points, each one of those buy points, each one of those buy points for me there's 25 lines total. For some of you guys there's two lines for some of you guys who bought the stock at $58 there's one line. Okay, and your cost basis is $58. And what I'm going to explain to you is even in that extreme case, that red line as faded as it is and the amount of fading of that red line becomes as extreme, the further it moves away from that red line. Okay. Now, for example, my top buy point at this point in the stock is just over $11 in the in the, because that's where I started to accumulate the shares again. So my 25 buy points start from $11 across. Once it got below the SPAC price, I thought look okay the initial value of the company at at $10 was probably a good entry below the stock now that's proven to be wrong. And it just means I'm a shitty investor right. No problem. What I'm explaining to you is those parallel lines drawn across there represent my holdings as a block. Okay. Now you look at the total accumulated number of shares based on that cost basis that you've entered the company with and the top line is going to be the most faded. The next line is going to be a little bit more pronounced. The next line is going to be a little more pronounced, a little more pronounced, a little more pronounced as we get to that very bottom cost basis which mine is around $1.32. Okay. Now based on where the stock ends today, that line that goes across there actually has a chance of going from a light red to full green, because once you step into profitability, and once we start to step back up that ladder of buy points, each one of those lines or cost basis that you've initiated into the position start to turn bold green again, bold green $1.32. It just happened to me as early as last month and you think there's no way we just had a terrible quarter Ryan, stay with me. Last quarter or last month the stock shot up to around $2.28 I think is where it went to. All right. We've had almost a dollar retraction in the stock. I have lots of buy points with a one in front of it. Okay. So anything above two, I'm back in the green. Okay. On those preliminary rungs of the ladder. Okay. Now, as the stock continues to digress, which I have no reason to believe that it's going to do anything other than what it's proven to us that we can do. I'll talk about that in a moment. We'll watch the stock continue to go down and I will be strategically putting more rungs under the stock, thinking that the company is not going to go bankrupt. Okay. I still have a bullish thesis of the company, but to establish those rungs and my buy points all averaged together to get my cost basis of entry into the stock. Okay. I think where people fail to understand stock market investing is that they look at that buy point and they look at the losses. They look at the next buy point and they look at the losses and they don't look at it cumulatively. Okay. When a lot of people are saying, hey, lower your cost basis. It sometimes falls on deaf ears when new investors look at it and they're like, man, I'm down X number of percent in the stock. And that's what they key it key in on my friends. If your expectation is to buy this company at the dead soup nuts low. It's not going to happen for you. Okay. My cost basis currently in the company is around $6 and 30 cents in the company. I'm totally willing with holding my shares here mid August after what is perceived to be a nail in the coffin quarter. And I'm not that way, but I'm absolutely happy with my share base as I own it cumulatively because again, if I go back to the charts, I see a bunch of lines which represent my stock purchases from my cost basis over. Excuse me from my buy point over buy point over buy point over. As time goes along, those red lines fade to magenta the further away they get at the lower the stock price goes as the stock price goes up. That red line starts to increase to full red until it can turn to full green when that buy point is met and surpassed. Okay. Now, I digress. When I talk about my share base in highly on I want to bring this full circle in truly understanding for a lot of retail investors who are just downright pissed off right now that they own a stock that has gone down. Your life is probably not as bad as you think that it is. You're holding in highly on and the negative sentiment that you have over that whole holding is probably more mental than physical, unless you allow it to be. Let me give you some insights as far as I'm concerned. My exercise regime has actually ramped up since I've owned the company because I felt like I needed to implement a little bit of balance. The diet has improved my rigor at work has improved all the while. I have just been put quite frankly a share owner in this company a share owner. Okay. I think a lot of you guys may potentially and for those of you who do not I don't mean to judge. But I think a lot of you guys make this thing out to be more than what it is. I really do. I see certain posts on Twitter. I see comments in the Facebook group bullish shareholder Facebook group. And they disappoint me because institutions aren't making those brash demands of a company right now. That is premature from acknowledging, let alone doing some of the things that the retail community are demanding over the company. Now, somebody could come over the top and say Ryan you're just playing wrong. It is absolutely time for the CEO Thomas Healy to step down in my heart of hearts my friends I am telling you that is that is absolutely not what this company needs right now. I think Thomas Healy over the last three years has done a fantastic job of of of leading this company and I think a lot of the criticism that he gets about not being charismatic enough or not being CEO ish enough, or to mechanically inclined to run this company is somewhat laughable and you should stop. You should stop with the criticisms. I left in the Facebook group that it is different to be disappointed in the performance of a company tracking back three years since coming to public markets. It is okay to be disappointed in a bad quarter or a sequence of bad quarters. But it is different to be disappointed in a company as opposed to asking a CEO to step down. Those are two completely different worlds my friends. The reasons why I would suggest that a CEO needs to step down is poor management. As it speaks to the company and their inability to move their product forward, my friends I'm going to tell you my best insight is that highly on has moved forward. Slower than most people myself included would have liked to have seen, but as far as mismanagement in way of putting people in place to do malicious things, cook the books, say things that are untrue for the sake of misguiding the company. I get it with the initial projections, but in all honesty, I don't know what went into those projections. I don't know if Thomas Healy sat down. This is what he's being accused of. And I'm disappointed in the projections as well, but the accusation is such that let's sit down and drop an investor presentation that misleads. I don't know if that's the case. It could very well be the case that they knew full well, which is my contention that they could not meet carb. I assume they didn't even know their NITSA EPA certification or maybe they didn't even know that they needed to do, which is embarrassing in and of itself, but did that did the initial investor presentation wasn't drawn up with the intent to deceive. I will give highly on the benefit of the doubt until proven different. If there's financial insolvency in way of, again, cooking the books, not making sound financial decisions, diluting shareholders at the time when it's probably not the time to dilute, which 2023 is not the time to dilute shareholders right now, the stock's trading at $1.30, the value back to Hylian is what? It's going to give them $50 million. That's a half a year's cap X and up X combined. That's pretty poor. That's less than a year of just continuing to throw money in the vacuum. We are not that we are not at that impasse. Nikola has passed that impasse twice as a share owner. That's a huge red flag for me. Now, as a share owner, if Hylian does go with either a financing or a capital raise through the issuance and sale of shares, is that going to be a reason for me to sell the stock? No, it won't. It will just be an acknowledgement of what is potentially necessary when those decisions are made down the line and as disappointing as it may be to have to raise capital in an emergency situation. I would love to see Hylian seek out a little bit more financial strength and then and then borrow or sell shares into strength, right, which I think would be a bullish catalyst for the company to raise as much money as they possibly need to not only get commercialization here in the states solidified, but also begin on their commercial commercialization abroad, which I think there's immense opportunity abroad for a lot of the other countries out there that I think are probably a lot more receptive than the United States. There's a lot of trucking tweets that I see. I'm a one one truck owner and I'll never drive an electric truck. OK, no problem. I guess that means that the entire industry, as you speak for it, is not going to be changing to an electrified powertrain solution nor finding a place for BEV application into the future. There was a story that I read about a gentleman who bought the new all electric Ford truck. I didn't even know this existed. But the way the story reads is that paid one hundred thousand dollars for this EV truck and wanted to take a trip across the country, unfortunately, got caught 13 miles before a charging station. Long story short, the truck dies on him on the side of the road. He has to rent a gas truck to actually tow the EV truck to the EV charging station and then limped his way to the final destination to actually make the to make the trip a whole. Why do I share that? I look at the Tesla opportunity. Me for one, I'm jaded because I don't like the cars and I really don't like fully V. I think it's creating more of a problem at the back end. I think they benefit from a politically positive, a politically positive agenda. Now, in other words, I don't think they're dealing with the cross currents that highly honest dealing with because they're not zero emissions profile yet. Much more practical as far as their solution. But practicality only goes so far when you're working against a politically correct initiative to go all be V at the at the expense of of of who knows what, right? You know, a non existent grid, a high cost of electricity, a demand on the electric grid that is not feasible in nature, but it's politically correct, right? So people fall all over themselves. And I'm seeing all kinds of reports about people having buyers or more about buying something as simple as Tesla, the number one EV manufacturer and sales market share dominator in the EV space is Tesla. So they're number one. Does it generate hype enough to where people may feel compelled to buy the EV, even though potentially there might be attributes that are looked at, acknowledged and then just gleaned over to make that purchase? Because, hey, everybody else is talking about how awesome it is to own a Tesla. I think Hylian is suffering a little bit from that. I do. I think the current prove it story with Hylian is yet to be proven out. I think the carb and the EPA certification that is supposed to be finalized in at the end of Q3, which has been declared to us, we are in Q3 now. And so over the coming months, we should expect some color on the certification of the units. And I think that's going to be a wonderful catalyst. Will it move the stock? Hylian, we know it's not going to move the stock. But as far as a share owner and the company, I want some assurance to understand that the product that I support and am invested in can achieve that final certification. And I think if I was going to lend my insights to what that could potentially mean, we go from a non viable product to a viable product. In other words, Hylian will have the neon green light to introduce the hyper truck ERX in controlled fleet trials to the fleets of their choice. I think that's going to be wonderful set this thing in motion. The Hylian story cannot be told unless the product has ample opportunity to be put into the rigor of class eight. We can't do that, my friends, until those final two certifications are met. Once those certifications are met, we can put that in our proverbial rear view mirror and we can move on and focus on the goings on with the controlled fleet trials. I want to revert back to the Q2 call a little bit. And just like in Hylian fashion, I think people have an interesting way of reading through the call, at least the last couple, which had been pretty crappy quarters, both of them, Q1 and Q2 were crappy. I have no reason to believe that in true Hylian fashion, Hylian's not going to just end 2023 with a complete dud in Q3, at least. Q4 promises to be a little bit more exciting because until we get the certification, my friends, we are in a waiting game and the stock is going to do whatever the stock is going to do, whether it digresses to 50 cents, whether it digresses to one cent. I don't know, 75 cents, whether or not it shoots back up to two dollars and 25 cents, right? It's just it's it's one of those things to where we need to have fair expectations. And I think people want to just jump right on the bandwagon when it comes to. When it comes to looking at the optics of a quarter and and and and just jumping on this, it was a terrible quarter. And therefore we need to fire the CEO and I need to justify every reason to sell the stock. I digress a little bit and I look at it and I just say it was as expected. It is a quarter. It's not the end all be all for the company. The company could do absolutely nothing and it will take a while to burn three hundred and thirty million of cash and cash equivalents with no debt on the books, I might add. Before it fails, right? The Q2 call has nothing to do with that, nothing. So you can take it with a grain of salt or you can pull your hair out or you can get all stressed out about it and you can get all fired up about it. I read the call. I wasn't moved one way or the other. It was just like, OK, nothing exciting there. I moved on with my day and the proverbial backlash that we've had after the Q2 call was kind of unacceptable, to be honest with you. And I charge you guys with coming to the realization to do or not to do when it comes to owning the stock. OK, you're either going to be a share owner or not. OK, if you're looking for an excuse to exit the position, you'll exit the position. Eventually, you might as well do it now. OK. I've just told you I'm willing to take the stock into bankruptcy. Again, I'm playing into y'alls words. I don't see that happening. There's too much progress with this company, with the employees that have been built up, the company warehouse, the relationships that has been built up with multiple customers thus far and work two shakes away from solidifying a product here that has a real chance of being put in on a controlled basis and getting some real positive results back. Will that be a windfall for the company? Will that be a windfall for the product? And moreover, will that be that final justification, perhaps, that has been lacking in the grander stock market to drive the stock down, basically valuing the company's initiatives at zero? If the company is based less than zero, then what is the market cap that you award for the patents, the product, the initiative and the and the future perspective for revenues to be generated? What is the value you put on the company? Right now, 25 million, 50 million. Mind you, this is in the face of a company that's got 330 million, right? And people keep focusing on the value being less than cash and providing no value whatsoever to where the company has been, where it is, and more importantly, where it's going. I hope you guys appreciated this update perspective. I think we need to wait and see. We will eventually be coming across to milestones in Q3, Q4. Hopefully, the exercise that I walked you through helps you understand that your share accumulation in Hylian is more a collective base. If you want to put a number to it, certainly look at the cost basis. Mine is around $6.93, something like that. In some of the other accounts, it might be closer to $9, closer to $10, whatever that might be. But that's what you live with, right? You don't look at the day-to-day down five, six days in a row, down 17% for a month or whatever. You don't look at that. You just look at it as, look, the company is looking to find its base right now. And we are actively in that. I'm looking to Marshall and Shepard, anybody who's interested in the potential of the speculative investment to follow along the journey with me. Whether or not it ends up bankrupt, no problem. We'll move on to the next opportunity. If not, and the thing ends up turning north, I'll be the same Ryan, no matter what the secret to this whole sauce is. And if you haven't identified this or have lost track of the fact that you are also you, no matter if you own this stock down or up or sideways, you are still you. And to keep this thing in context, because business is business, and more importantly with speculative investing, perspective is perspective. And I think this company needs more time, either hold or don't hold the stock. Keep it simple, keep your eyes on the prize and stay positive as we move forward. But that's my take on the Q2 call, a little less negative than I think maybe you were expecting and maybe a little less positive than you were expecting. And I revert back to what I gave you before the call in what I expected to be neutral to negative. And that's exactly what the call was, look to the horizon for better times. I think we're going to look back on these collective months and years from a lens of a company that needed ample time to start and get their product, which is not there yet in the hands of a class eight space that actually needs the solution. Guys, if you appreciate the message, subscribe to the channel, leave your comments at the bottom, hit the notification bell, you'll be notified of future videos that I upload to YouTube guys. Thank you so much for tuning in for the totality of this highly on reaction to Q2 earnings guys, we'll catch you in the next one and good luck in your investment future.