Ann: App 4C Qtr Ended 31 December 2023, page-12

"Quarterly customer revenue of $855k, comprised foundry services for a European wafer developer, first revenues
under the NCSU contract, and initial payments for laser orders."

It is a little confusing in the report that revenues are $855k, yet customer receipts are $295k. This just indicates that some of the revenue the quarter is yet to be received in cash. The trajectory of revenue growth is very encouraging.

The report also says that the cost will stabilize now that the vertical integration is complete. Having said that, I would like them to reduce the staff costs and be more streamlined.