Ladies and gentlemen thank you for standing by. All participants are present in listen-only mode. Welcome to today's conference call to discuss Nano Dimension's First Quarter 2021 Financial Results. On the call with us today are Yoav Stern, CEO; and Yael Sander, CFO. Before we begin, may I remind our listeners that certain information provided on this call may contain forward-looking statements. And the safe harbor statement outlined in today's earnings press release also pertains to this call. If you have not received a copy of the press release, please view it in the investor relations section of the company's website. Yoav will begin the call with a business update, followed by a question-and-answer session, at which time, Yael will answer questions regarding the fourth quarter 2020 financial results. As a reminder this conference is being recorded, May 20, 2021. I would now like to hand over the call to Mr. Yoav Stern. Mr. Stern, would you like to begin?

Yes, thank you very much operator, much appreciated. Hi everybody, welcome to Q1 results conference call. I will start by explaining to you the news release pretty much is worded and if you have read it, you will know what I'm talking about and I'll try to help. Dig a little bit deeper in the details. And of course, later we'll have questions and you can ask anything regarding what I said, what is written and regarding the results, the financial results between [indiscernible] will try to help you. So, first of all, while the Investor Relations people that work with us advise me that the description of our business is too complicated, I believe that all our shareholders are intelligent and can understand it, and this is how we work. We work on three different axis nowadays. And the axis are the terminals to each other integrated spending in a football field. And one axis is going to your front all the way forward; one axis is going to your right, all the way to your right; and one axis goes from where you are upside upstairs back. So you need to perceive in three axis, each one of them is a terminal to each other, which means there's no influence between one to the other, which means there's no leverage. So, we are really active on all three of them moving forward. So, there's enough movement and enough achievements on all one of these three accesses. And then eventually they start to merge with each other. Once those three axis start to merge with each other, we start to have influence on one axis on the other, and that's when the leverage is coming and then with the accelerated growth is coming. So as the axis over time…

Thank you, sir. [Operator Instructions] The first question is from Jeff Rice of SmallCap Limited [ph]. Please go ahead.

Hello sir, Mr. Stern. Great update. I appreciate that. We're very excited for the future and the growth of Nano Dimension. We're big supporters and shareholders in the company. I wanted to ask you little more detailed questions on the Type A acquisitions. I know previously you talked about both Europe and United States. I was wondering if you are looking for both – to acquire both a company in Europe and United States, or could it be possible that these companies have locations both in Europe in U.S.? And then my second question is, can you explain how these companies, once acquirable expand growth for Nano Dimension, is it for their supply chain infrastructure? Is it to turn their existing clients into the new technology to transition? And my final question is, is the eventual goal for Nano Dimension to be bought out, I'm personally hearing KLA is on your radar. So I just wanted to share that with you. Thank you.

Okay. Let's start from the third question. No, bullshit. Second question, the supply chain will be used. The existing clients will be used by populating those with our machines. So we have developed our relationship with existing clients through these companies. And yes, your question and right, and the answer is yes. Regarding the first question, Europe or United States or combination of both, the answer is yes and yes. Next question, please?

Thank you. [Operator Instructions] There are no further questions at this time. The next question is from Mr. Byron Mayo [ph]. Please go ahead.

Hi. I noticed there's a certain amount of funding for R&D and for administrative expenses. Is it too early to project profitability out into the future, or breakeven status?

Sorry. I'm sorry, sir. Can you repeat the question? I didn't exactly understand it.

Is it too early to project breakeven status at this point?

Breakeven you mean as much as profits?

I'm actually looking at cash flow.

Just in terms of operating cash flow, so that we're not going to be a breakeven for a couple of years. We're not going to be breakeven on cash flow in the next two years.

Okay. Thank you.

Thank you. And just to add to this answer, since we have $1.4 billion pushing this company to be breakeven in cash flow, which I can do by the way, and we can will be the biggest mistake I believe as much as shareholders are concerned, because you did not give us the money and I relate to the money you gave us as we raise it very, very seriously, almost as a loan, it’s a loan, it’s equity. You gave us the money in order to triple – between triple to quadruple up to eight times return on your money hopefully over the next three to five years. So the worst thing we can do is keep the money on the balance sheet and make the company breakeven in cash flow and generate cash. That's not why you give us the money and it behooves me to spend the money smartly on what I described to you we're spending it. So we create value that is the multiples on the money we receive. So no, we don't plan to be cash flow breakeven because if we did, then we basically betrayed the trust and the intention of our investors, which are you. Thank you. Next question?

The next question is from Gill Greenwald [ph]. Please go ahead.

Thank you, Yoav. Thank you for your update an guidance [indiscernible] company. I would like to just ask – last time you were asked about Sigma Lab. Did you – did this come up on your radar since? If you look into the company, because you said you don't know anything about it and…

I'm sorry sir. Your line is a little bit fuzzy. Can you speak slow? You said the last time I was asked about whom?

Sigma Lab, Sigma lab.

I don't remember. And I don't know about any company that name and I don't remember being asked about it.

Okay. Thank you.

Thank you. There are no further questions at this time. Mr. Stern, would you like to make your concluding statement?

No, let’s wait thirty seconds, people may have something comes up so 30, 40 seconds, and then. Very interesting actually, I don't want to tell you 30 or 45 or 60 days, I can check it out. And if you want to know this specifically you deserve an answer, please write up to our CFO, which is on the line. And remind please on your name and the question, and we will send you the answer. And if other people are interested, we will partnership them. I'm really sorry. I just don't remember the exact time and I don't want to be misleading.

Okay that sounds good.

Any more questions in queue?

The next question is from Jordan Star [ph]. Please go ahead.

Hi. With the recent announcements, multi-billion-dollar investments Intel company released on Israel and obviously other companies throughout the world, management mentioned in being engaged or interested in working with these companies at all and helping shift the paradigm in high price in PCB manufacturing?

No.

All right.

Any further questions?

There are no further questions. Would you like me to read the instructions or a concluding statement?

No, I can go on to a concluding statement, please.

Okay.

So, ladies and gentlemen, thank you again very much for participating. It's now 30 minutes. The market is operating in a minute and I'm sure all of you are now focused on your day of work ahead. I wish you success today and the days moving forward.

There is now another question. Would you like to answer it or conclude the conference?

Yes sure. Sure, of course.

The next question is from Rakesh Jammula of AMFM [ph]. Please go ahead.

So, you last time when you said like, we have a breakthrough with the insight, so did we get any new or material links with the new machine?

Breakthrough with what I'm sorry?

With the inks, conductive inks, right now, we only use silver, right? You said like we have different material breakthroughs.

Yes. Yes, we do. And we're not publishing it because of competitive issues. But the major breakthroughs that we are looking at investing in is actually not necessarily on the conductive ink is much more on dielectric ink. The dielectric ink is the challenge because dielectric – conductive ink, which is a silver, and we are now looking at other conductive inks, the conductivity is good. And the ability of it to deliver the specific session that we need for it, the specification, we need to deliver are pretty good. The real efforts on dielectric inks and there we have breakthroughs and we have combination of dielectric and we are now adding more than just polymers, ceramics and other supporting materials that are both improving the electrical characteristics of the dielectric, as well as the strength. So, it gets closer and closer to the industrial space, commercial space and eventually medical space. And we can’t obviously disclose what kind of materials for competitive reasons, but yes, we are moving forward with this. And our investment in R&D, I would say, if the sale of it is a material.

Thank you. Thanks for the answer.

Thank you for the question. It's a very good question.

There are no further questions.

Okay, so I'll continue with my conclusion operator?

Yes, please.

Okay. So again, guys, please have a good day of work. I thank you very much for participating, and listening and supporting us. And I promise you that we are moving forward and you will hear from me on an ongoing basis in between this quarterly news releases if anything interesting that is happening. And I expect interesting things to happen in the next short while. So, I'm looking forward to that.

Thank you.

Thank you very much.

Thank you. This concludes the Nano Dimension’s first quarter 2021 financial results call. Thank you for your participation. You may go ahead and disconnect.