The situation for Neonode improved slightly in Q3 with two new module contracts. The cash situation is the largest concern at the moment. We see no other way forward than additional capital raising in mid-2019, unless the company manages to sell the AirBar business. The current financing increases the risk and lowers our valuation. Shares have tanked 71 % YTD, which is understandable judging from the history but we have a hard time to see how it could get worse from here.