Desert Control AS

Welcome to the Desperate Control Half-Year Report and Investor Update. Today's presentation will review our Half-Year Report 2036 and interim financial results for a fiscal period ending in June 30, 2036. We will also share selected updates from the third quarter to date. Following the presentation, there will be a Q&A session, and you are encouraged to use to submit the questions anytime using the Q&A function. To begin, Lars Eschmark, chair of the board, will share opening remarks. After that, our CEO, James Thomas, will present the half-year report. Today, we have a full lineup presentation with our team that we have put together to give a deep depth of the areas of focus. Our chairman, Lars, will lead off the opening remarks regarding his perspective on the first half progress, and we will give a summary of the year today. Mike will introduce himself in the areas of focus for the next six and 12 months that are coming, and Jan will give us updates on our new production unit and the new release Marty Williams will take us through the pipeline about our culture and goals. And David will cover the financials. And they will be available for this Q&A session. And now we hand over to our chairman, Lars Asmark.

Thank you very much, Ari. And good afternoon or good morning, depending on where you're dialing in from. And welcome to the 26th half-year webcast. I trust you all have had a wonderful summer and have returned to your daily dues with recharge batteries. The summer has been a busy period for Desert Control due to the ongoing process of strengthening the financial muscles of Desert Control. You might recall from earlier webcasts that we, during the early months of Q126, initiated the process with a London-based bank, MW&L Capital Partners, or Musser Capital as they're called today. The purpose of this process was to seek an investor or investors who would invest up to $15 million into desert control. While the process and resulting expanded network that were addressed were very satisfactory, the outcome did not carry the fruit we had hoped for. The vast majority of investors were not allowed to invest in listed companies, even though creative idea sharing and scenarios bounced back and forth. The second largest knockdown cause was and is our size. We are simply considered too small, and combined with our listing, the case is associated with too much complexity for many investors. This disappointing fact, despite amazing feedback and interest that confirms our relevance, our strategy, the market potential, the proof of our technology, and the substantial upgrade in organization. So, Together with our advisors, we assessed all angles and avenues of getting a solution that would strengthen our balance sheet. And when I say all, I mean all. This included reach-ups to investors and to people who had waived that they represented interested investors who would make large placements under various technical setups, provide convertible loans, act as guarantors, etc. All of these leads were pursued relentlessly and jointly by all our advisors. and management and board, however, without carrying any fruit. So in short, the rights issue that we decided to pursue was by the end of the day the most viable option. Within the rights issue process, we decided to accept the best offer which came from the guarantors who also participated in the 2025 rights issue. On top, the data control leadership team and individual board members, in particular our CEO, James Thomas, stepped in with substantial guarantees illustrating their belief in Desert Control. With the rights issue, Desert Control would have financial runway until Q3 27 and we will continue to pursue our set strategy with confidence. Does that mean that we are satisfied with the current share price? No, definitely not. The share price does not reflect the value and potential of Desert Control.

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