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spk_0: to prevent
spk_2: any background noise. After the speakers prepared remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, press the pound key. Please be advised that today's conference is being recorded. I would not like to turn the call over to Brett Perry of Shelton Group Investor Relations. Brett, please go ahead.
spk_1: Good afternoon and welcome to transforms fourth quarter business update. Conference call. Joining us on joining us today from Transformer. Mario Revis, chief executive officer, Prime It Prick, co founder and chief operating officer. And Cameron McLay, chief financial officer. Before we begin, I'd like to point out that there is a slide presentation associated with today's call, which management will be referencing during the conference call. These slides can be accessed through the Webcast link in the Investor Relations section of Transforms Website, where they will also be posted and available as a linked PdF document. Additionally, during the course of this call, the company may make forward looking statements regarding the company's financial position strategy and plans for future operations, specific end markets and other areas of discussion. It's not possible for the company or management to predict all risks. Nor can the company assessed the potential impact of all factors on its business or the extent to which any factors or combination of factors may cause actual results to differ materially from those contained in any forward looking statements. In light of these risks, uncertainties and assumptions, the forward looking statements discussed during this, called may not occur in actual results could differ materially and adversely from those anticipated or implied. Any projections as of the company's future performance, represent management's estimates. As of today, March 9th 2021 neither the company nor any person assumes responsibility for the accuracy or completeness of the forward looking statements. The company undertakes no obligation to publicly update for looking statements for any reason after the date of this call, to conform such statements to actual results or to changes in the company's expectations. For more detailed information on risks associated with companies business, we refer you to the risk factors described and transforms S one and other subsequent filings with the SEC with that said It's now my pleasure to turn the call over to transform CEO Mario Rivas. Mario, please go ahead.
spk_0: Thank you, Brett. Welcome to everyone on today's call. Thank you very much for joining us fourth quarter market strong finish to a successful year, and we continue to make significant progress on our product development if I win momentum and go to market initiatives. Despite the challenges associated with the Covid 19 pandemic, we remain closely engaged with our strategic partners and continue to fully support both new and existing customers throughout 2020. We continue to drive increased adoption of our disruptive gun technology across targeted applications in fast charging adapters, data centers, crypto mining as well as electric vehicles. We successfully completed a 15 million private placement in support of future growth as we ran volume shipments against a healthy backlog and growing number of design wind. Additionally, we continue to expand the depth and expertise of our board with the recent appointment of Katharina McFarland going through the key investment highlights, transform with his global semiconductor presence continues to lead the gun revolution with the highest performance highest reliability gun devices for high voltage power conversion applications, the largest market opportunities for GAN are electric vehicles and five g transform. Integrated business approach ensures a smooth commercial ramp in a variety of market, from the consumer power adapters to our motive. Applications from high volume products to the highest levels of quality and reliability transforms gun technology. Receive validation from our partners, customers and the United States Department of Defense through the Office of Naval Research. This integrated business approach, backed by one of the industry's largest portfolios with over 1000 patterns, recently was valued in excess of $200 million. And he has yielded the industry first Genetic and a C Q one oh, one qualified gun fit To continue to ensure this gun revolution transformed, deploy these unique, vertically integrated business approach that leverages the industry. Most experienced gun engineering team at every development stage. Design publications
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