Travel became extraordinarily difficult at times, with executives operating from multiple countries and dealing with severe transportation disruptions throughout the region.

May 7, 2026 / receipt, needs a key / Joe Harari, CEO | earnings call 2026-05-07 | transcript fd342750-f328-44be-9950-9a74563660bb | chars 7742-7915 | segment 7

Vue also failed to file its proxy on time, and this makes me speculate that a stock split and even more diluted stock issuances, assuming that they could raise capital, need to be approved by their shareholders under NASD rules. In early April, Vue announced they were cutting 170 jobs, which represents about 23% of their workforce, and they needed funding to survive. Their smart glass sales were down over 16% in 2022 versus 2021. And they reported a loss of $337 million in 2022 and had 198 million in cash at year end and burned through $260 million during the year. I'm thinking that May 9th conference call should be very interesting. Another publicly traded smart glass company, Crown, is down 28%, well actually about 33%, after being down 95% in 2022. And they also had layoffs. They reduced their headcount for smart glass from 31 to 16 people.

May 4, 2023 / receipt, needs a key / Joe Harari, CEO | earnings call 2023-05-04 | transcript 6d4596e2-2d5e-4d57-8283-4feb469cf113 | chars 8298-9153 | segment 8

As far as your question about review and their financial difficulty, yeah, they are not doing very well financially, and we'll probably learn more on March 29th when they have their year-end conference call, which is pretty much the last minute. But they've been somewhat of a negative force for the entire architectural smart glass industry. First, they've had financial and accounting issues. Plus, it's very hard to figure out what a smart window should cost because they've been heavily subsidizing their sales to customers, which is why they ended up losing $260 million last year. So, You know, they are doing what they can as well. Not too much to say other than I wish all of our competitors well. They create a great reference point for a better performing technology and a real business.

Mar 9, 2023 / receipt, needs a key / Joe Harari, CEO | earnings call 2023-03-09 | transcript 6eaf4d0d-2d82-41f7-b19f-d32a9c6c3e7d | chars 11520-12317 | segment 11

Also in Europe, natural gas prices dropped 70% since their record highs in August when we had our last conference call. Shipping costs are down, too.

Nov 3, 2022 / receipt, needs a key / Joe Harari, CEO | earnings call 2022-11-03 | transcript d1a6e46c-0567-4d40-a445-deec0b5f65d9 | chars 7124-7273 | segment 7

And as Bentley has noted in their public presentations about the future of sunroofs within Bentley, there is a greater need for smart glass roofs because of the movement-fixed, non-movable panoramic roofs in cars. Bentley noted that SPD smart glass can also reduce the weight of the roof at 13 pounds and eliminate the need for 54 components. This reduces costs and further increases driving range and reliability while contributing to stability of the car on the road. These benefits in the automotive industry were also discussed in many other prestigious automotive publications, such as Automotive News, Autoline, the Detroit Free Press, Wars Automotive News, and others.

Nov 4, 2021 / receipt, needs a key / Joe Harari, CEO | earnings call 2021-11-04 | transcript f5d666d9-f762-4db6-a248-057470a849d7 | chars 4488-5163 | segment 4