Remember, five straight years of operating losses above 140 million kronor — 2025 about 178M operating, 223M net — and the audited report flags material going-concern uncertainty, Right? Cash roughly 30M kronor, Q4 adjusted EBITDA positive 10.8M, pipeline moving. The $17M refinancing replaces $11.5M loans with a three-year facility plus $12M convertible at premium, converting only at materially higher valuation — extending runway via debt, not equity, Okay? Small, nimble, batting above our size at the laser bottleneck. Room for many players.