Atomera Inc (ATOM) 2024 Q3 法說會逐字稿

Hello, everyone and welcome to Atomera's third quarter, fiscal year 2024 update call. (Operator Instructions) I'm Mike Bishop with the company's investor relations. As in prior quarters, we will open with prepared remarks from Scott Bibaud, Atomera's President and CEO and Francis Laurencio Atomera's CFO. Then we will open the call to questions. If you are joining by telephone, you may follow a slide presentation to accompany our remarks on the events and presentation section of our investor relations page on our website.

大家好，歡迎參加 Atomera 2024 財年第三季更新電話會議。（操作員說明）我是麥克‧畢肖普（Mike Bishop），負責公司投資人關係。與前幾季一樣，我們將以 Atomera 總裁兼執行長 Scott Bibaud 以及 Atomera 財務長 Francis Laurencio Atomera 的事先準備好的演講開始。然後我們將開始提問。如果您透過電話加入，您可以觀看幻燈片演示，並附上我們對我們網站投資者關係頁面的活動和演示部分的評論。

Before we begin. I'd like to remind everyone that during today's call, we will make forward-looking statements. These forward-looking statements, whether in prepared remarks or during the Q&A session are subject to inherent risks and uncertainties.

在我們開始之前。我想提醒大家，在今天的電話會議中，我們將做出前瞻性陳述。這些前瞻性陳述，無論是在準備好的發言中或問答環節中，都存在著固有的風險和不確定性。

These risks and uncertainties are detailed in the risk factors section of our filings with the Securities and Exchange Commission, specifically, the company's annual report on form 10-K filed with the Sec on February 15, 2024 except as otherwise required by federal securities laws. Ademe disclaims any obligation to update or make revisions to such forward-looking statements contained herein or elsewhere to reflect changes in expectations with regards to those events, conditions and circumstances.

這些風險和不確定性在我們向美國證券交易委員會提交的文件的風險因素部分中有詳細說明，特別是公司於2024 年2 月15 日向美國證券交易委員會提交的10-K 表格年度報告，除非聯邦證券法另有要求。Ademe 不承擔更新或修改本文或其他地方包含的此類前瞻性陳述的義務，以反映對這些事件、條件和情況的預期變化。

Also, please note that during this call, we will be discussing non-GAAP financial measures as defined by SEC regulation G. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in today's press release which is posted on our website. Now, I would like to turn the call over to our President, CEO Scott Bebo. Go ahead, Scott.

另請注意，在本次電話會議中，我們將討論SEC 法規G 定義的非GAAP 財務指標。發佈於我們的網站。現在，我想將電話轉給我們的總裁兼執行長 Scott Bebo。來吧，斯科特。

Good afternoon and thanks for joining today's call. The last three months for Atomera have been the busiest and most positive in my memory. I do feel that right now our team is firing on all cylinders in our development efforts, customer activity, partnerships and technology advancement.

下午好，感謝您參加今天的電話會議。Atomera 的過去三個月是我記憶中最忙碌、最正面的。我確實感覺到，現在我們的團隊在開發工作、客戶活動、合作夥伴關係和技術進步方面正在全力以赴。

Today, I'll put out a comprehensive picture of the company with as much information on customer progress as I can by detailing our different technology segments and where our primary customers are making significant progress towards JDAS and or license agreements.

今天，我將透過詳細介紹我們不同的技術領域以及我們的主要客戶在 JDAS 和/或授權協議方面取得重大進展的情況，全面介紹公司，並提供盡可能多的客戶進展資訊。

First, let's go over the opportunity for MST and power chips. The power semiconductor market is a large and rapidly growing segment driven by the power demands of large compute infrastructure and vehicle electrification. In 2024 this market is expected to be over $52billion and innovations to drive efficiency. Power and cost savings are being widely pursued.

首先，讓我們回顧一下 MST 和電源晶片的機會。功率半導體市場是一個龐大且快速成長的領域，受到大型運算基礎設施和車輛電氣化的電力需求的推動。到 2024 年，該市場預計將超過 520 億美元，創新將提高效率。人們廣泛追求節能和成本節約。

Of course, our most visible opportunity in this segment is with ST and the development of their next generation smart power products incorporating MST Atomera has been supporting ST in the development of that new process for over a year now, and I recognize that investors would like more insight into exactly where we are in the transition for production.

當然，我們在這一領域最明顯的機會是與 ST 合作，他們採用 MST Atomera 開發下一代智慧電源產品，一年多來一直支持 ST 開發新工藝，我認識到投資者希望更深入地了解我們處於生產轉型的具體階段。

There are two main areas in which Amara has been supporting ST. The first is on MST CAD simulations to optimize silicon performance through integration of MST. This work has been underway for over a year and the correlation between modelling and hardware has been confirmed with real silicon multiple times. The number of silicon validation runs required will depend on how quickly ST achieves their dime design objectives.

Amara 在兩個主要領域為意法半導體提供支援。第一個是 MST CAD 模擬，透過 MST 整合來優化晶片效能。這項工作已經進行了一年多，建模和硬體之間的相關性已通過真實晶片多次得到證實。所需的矽驗證運行次數將取決於 ST 實現其設計目標的速度。

Second area in which we are cooperating with ST is manufacturability by enhancing throughput of MST deposition on ST's factory production tools. I want to emphasize that this project is in great shape. Indeed, ST has authorized me to say that development is going well and that we are still on track to go to production as soon as development and [Qal] are complete at that time, we expect royalties that will be compelling high gross margin revenue for Atomera. As with prior statements, I cannot comment on timing or schedule except to say that it is entirely under ST's control.

我們與 ST 合作的第二個領域是透過提高 ST 工廠生產工具上 MST 沉積的吞吐量來提高可製造性。我想強調的是，這個專案進展順利。事實上，ST 授權我說開發進展順利，一旦開發和 [Qal] 完成，我們仍然有望投入生產，我們預計特許權使用費將帶來令人信服的高毛利率收入阿托梅拉。與先前的聲明一樣，我無法對時間或時間表發表評論，只能說這完全在 ST 的控制之下。

ST is not the only company we've been working with in this segment, Atomera MST-SPX technology is applicable to voltage ranges from 7 volts to 48 volts. Meaning it's interesting to many different players for a variety of applications since this is typically a legacy technology with relatively few knobs that will bring big performance improvements. When we demonstrate that MST can help them gain 20 plus percent. There's usually strong customer interest.

ST 並不是我們在該領域合作的唯一一家公司，Atomera MST-SPX 技術適用於 7 伏特至 48 伏特的電壓範圍。這意味著許多不同的玩家對各種應用程式都很感興趣，因為這通常是一種傳統技術，只需相對較少的旋鈕即可帶來巨大的效能改進。當我們證明 MST 可以幫助他們獲得 20% 以上的收益。客戶通常有強烈的興趣。

We are currently in discussions with multiple customers on proposals to either license the technology outright or to enter into JDA that will ultimately lead to production. One part of this market is particularly hot right now and provides a compelling opportunity for Temara, traditionally, server racks and data centers have been fed by a 12-volt power supply. But that standard is currently changing to 48 volts.

我們目前正在與多個客戶討論直接授權該技術或進入最終投入生產的 JDA 的建議。該市場的一部分目前特別熱門，為 Temara 提供了極具吸引力的機會，傳統上，伺服器機架和資料中心一直由 12 伏特電源供電。但該標準目前正在更改為 48 伏特。

Accelerating A I driven power demands have created a need for higher power efficiency of those data centers and 48 volts can deliver power dis can reduce power dissipation by a factor of up to 16 times which has led to a chip war to deliver the best devices.

人工智慧驅動的電源需求的加速要求這些資料中心提高電源效率，而 48 伏特電源可以將功耗降低多達 16 倍，從而引發了一場提供最佳設備的晶片大戰。

In the last quarter, Atomera has finalized a 48 volt version of our SPX technology with dramatic performance improvements. Specifically to address this segment introductions to new customers are just starting, but we are optimistic about its potential due to the further efficiency improvements it can bring to data centers.

上個季度，Atomera 完成了 SPX 技術的 48 伏特版本，效能顯著提升。特別是為了解決這個細分市場，向新客戶的介紹才剛開始，但我們對其潛力持樂觀態度，因為它可以為資料中心帶來進一步的效率提高。

Next, we have the advanced node work for gate all around transistors at the leading edge, which represents about $150billion market in 2023. Manufacturing technology at these advanced linewidth has shifted from a primary focus on lithography to more extensive use of materials engineering solutions and in particular EPI as device architecture shifts from [finfet] to gate all around the number of EPI's incorporated into the process flow is projected to more than triple.

接下來，我們將在前沿的全柵極電晶體的先進節點工作，這代表著 2023 年約 1500 億美元的市場。這些先進線寬的製造技術已從主要關注光刻轉向更廣泛地使用材料工程解決方案，特別是 EPI，因為裝置架構從 [finfet] 轉變為閘極，整合到製程流程中的 EPI 數量預計將達到超過三倍。

This trend makes it significantly easier to add MST to the primary EPI to deliver improved device performance. As [Epitaxi] becomes a more critical component of device architecture, it opens the door to our MST technology being more easily slotted into the production flow since the MST insertion cost to an existing EPI is incremental compared to introducing MST as a standalone step.

這一趨勢使得將 MST 添加到主 EPI 中以提供改進的設備性能變得更加容易。隨著[Epitaxi] 成為設備架構中更關鍵的組件，它為我們的MST 技術更容易融入生產流程打開了大門，因為與將MST 作為獨立步驟引入相比，現有EPI 的MST 插入成本是增量的。

In addition to MST being easier to add advanced node production is an area where we believe our technology can provide significant benefits. Our ability to block dopants, particularly phosphorus. In this application can provide a critical tool for the formation of advanced source drain structures. As detailed in Robert Meer's presentation at the recent ECs prime conference with the incredibly tight channel lengths. In today's newest transistors obtaining high production yields has become one of the central challenges. And we believe MST can help to solve this problem which will have a direct impact on the number and cost of GPUs that can be manufactured to meet the demands of the AI market.

除了 MST 更容易添加先進節點生產之外，我們相信我們的技術還可以提供顯著優勢。我們能夠阻擋摻雜劑，特別是磷。在此應用中可以為形成先進的源極汲極結構提供關鍵工具。正如 Robert Meer 在最近的 ECs prime 會議上的演講中詳細介紹的那樣，通道長度極其緊張。在當今最新的晶體管中，獲得高產量已成為主要挑戰之一。我們相信 MST 可以幫助解決這個問題，這將直接影響可以製造以滿足人工智慧市場需求的 GPU 的數量和成本。

Our new head of business development has a deep background here and we believe he will lead us to compelling market growth in this segment. Today, we are working with multiple customers in the advanced node area.

我們的新業務開發主管在這方面擁有深厚的背景，我們相信他將帶領我們在這一領域實現引人注目的市場成長。今天，我們正在與先進節點領域的多個客戶合作。

The memory segment valued at over $110billion in 2023 has many characteristics in common with the advanced node segment except because it is a commodity market. It's hyper focused on low production costs. Similar to gate all around they are in a relentless drive to meet smaller node sizes. But in this case, they can benefit even more from material advances to meet yielder cost targets.

到 2023 年，記憶體領域的價值將超過 1100 億美元，除了它是一個商品市場之外，它與先進節點領域有許多共同特徵。它非常注重低生產成本。與周圍的門類似，它們都在不懈地努力滿足更小的節點尺寸。但在這種情況下，他們可以從材料進步中獲益更多，以滿足產量成本目標。

Again, similar to advanced logic platforms, the memory platforms are beginning to introduce epitaxy into the device structure, turning to materials engineering to drive performance just as we gate all around the introduction of EPI into the memory flows. MST becomes an incremental cost added to the EPIs while delivering substantial device performance and cost benefits.

同樣，與高級邏輯平台類似，記憶體平台開始將外延引入到裝置結構中，轉向材料工程來驅動性能，就像我們圍繞將外延引入到記憶體流中一樣。MST 成為 EPI 的增量成本，同時提供顯著的設備效能和成本優勢。

We are excited about the potential for our technology in this space because we believe it provides real performance die size and margin improvement potential for our customers even after paying us a royalty. And the opportunity here is huge at approximately 20% of the entire semiconductor industry with very high volumes and long technology cycles. Again, we are working with multiple customers in this area.

我們對我們的技術在這一領域的潛力感到興奮，因為我們相信，即使在向我們支付特許權使用費後，它也能為我們的客戶提供真正的性能晶片尺寸和利潤改善潛力。這裡的機會是巨大的，約佔整個半導體產業的 20%，產量非常大，技術週期也很長。同樣，我們正在與該領域的多個客戶合作。

Finally, RF-SOI is another segment with excellent potential for our technology where we provide a performance advantage, we don't believe is possible to achieve without MST. We continue to work with customers representing the majority of the supply of devices built on RF-SOI substrates in each of these segments, we've made proposals to customers which we are optimistic will convert into JDAs our license agreements in the near future.

最後，RF-SOI 是我們技術具有巨大潛力的另一個領域，我們提供了性能優勢，我們認為如果沒有 MST，就不可能實現這一點。我們繼續與代表每個細分市場中RF-SOI 基板上構建的設備供應大部分的客戶合作，我們已經向客戶提出了建議，我們樂觀地認為這些建議將在不久的將來轉換為我們的許可協議的JDA。

Indeed, we are in active negotiations today on an agreement that we believe will be transformative for the company and we are hopeful that we will be able to announce it within the next few months. Recently, we announced an agreement with the centre for integrated nanotechnologies at Sandia National Labs to further our efforts on GaN on silicon technology.

事實上，我們今天正在積極談判一項協議，我們相信該協議將為公司帶來變革，我們希望能夠在未來幾個月內宣布該協議。最近，我們宣布與桑迪亞國家實驗室整合奈米技術中心達成協議，以進一步推進我們在矽基氮化鎵技術方面的努力。

Earlier work with State Texas State University has shown that MST can reduce stresses induced during the manufacture of Gan on silicon substrates which can improve the crystal quality as proven through physical tests like those shown on this slide.

早期與德克薩斯州立大學的合作表明，MST 可以減少在矽基板上製造 GaN 過程中產生的應力，從而可以提高晶體質量，這一點通過物理測試（如本幻燈片所示）得到證明。

Now we will take the developments a step further with fabrication of GaN devices to validate that the physical improvements convert into electrical benefits. GaN on silicon will be the high-volume, low-cost substrate of the future for GaN devices. And if this technology works as expected, MST will be valuable to anyone who manufactures with it.

現在，我們將進一步開發 GaN 裝置的製造，以驗證物理改進能否轉化為電氣效益。矽基氮化鎵將成為未來氮化鎵裝置的大批量、低成本基板。如果這項技術按預期發揮作用，MST 對於任何使用它進行製造的人來說都是有價值的。

A lot of R&D is going into GaN on silicon and announcements periodically come out about manufacturers bringing larger wafer sizes to production, make no mistake though those wafers are experiencing stress that lead to lower yields and higher defects which MST may help to alleviate the rapidly growing GaN market is particularly interesting to us because we believe the technology can be converted to revenue faster than our traditional business. And we hope the work with Sandia will help speed up our time to market.

大量研發投入矽基GaN 領域，並且定期發布有關製造商將更大尺寸晶圓投入生產的公告，毫無疑問，儘管這些晶圓正在承受導致產量降低和缺陷增加的壓力，但MST 可能有幫助於緩解快速成長的問題我們對 GaN 市場特別感興趣，因為我們相信該技術可以比我們的傳統業務更快轉化為收入。我們希望與桑迪亞的合作將有助於加快我們的上市時間。

Customer engagement has intensified dramatically in the last quarter. We are engaged with a lot of very large customers, and I sense that the need for our technology is stronger than ever. So let me cut to the chase and give a quick update on prior deals.

上季客戶參與度顯著增強。我們與許多非常大的客戶合作，我感覺到對我們技術的需求比以往任何時候都更強烈。那麼，讓我切入正題，快速介紹一下之前的交易狀況。

JDA one has recently requested additional data from us to validate MST's effectiveness in a specific application. And we are already planning wafer runs to demonstrate how MST can address their requirements. Discussions with JDA two about a companywide license spanning multiple technologies and nodes is ongoing. Although this negotiation is moving more slowly than we would like.

JDA one 最近要求我們提供更多數據，以驗證 MST 在特定應用中的有效性。我們已經在計劃晶圓運行，以展示 MST 如何滿足他們的要求。與 JDA 2 正在就涵蓋多種技術和節點的全公司範圍內的授權進行討論。儘管這次談判的進展比我們希望的還要慢。

Our fabulous licensee has wafers coming out imminently and if those results are strong, we believe it will lead to a production transition program with both them and their foundry partner. Beyond these engagements, we have proposals understanding outstanding with several others. In addition to the large transformative customer, we are negotiating with today.

我們優秀的被授權人即將推出晶圓，如果結果強勁，我們相信這將導致他們及其代工合作夥伴實施生產轉型計劃。除了這些約定之外，我們還有一些與其他幾個項目達成共識的提案。今天我們正在洽談的除了大型變革客戶之外。

Right now, without exaggeration I believe the Atomera team is more excited about our prospects than I've ever seen. The ST engagement, which is an enormous business with a long-projected life is moving nicely towards production with which ST has confirmed our potential in the outline segments is even larger. And I feel we are very close to announcing deals which will cement that position.

現在，毫不誇張地說，我相信 Atomera 團隊對我們的前景比我所見過的更加興奮。ST 的業務規模龐大，預期壽命較長，目前正在順利進入生產階段，ST 已證實我們在輪廓細分市場的潛力更大。我覺得我們非常接近宣布將鞏固這一地位的交易。

The work we're doing in gate all around and memory is tied directly to the biggest driver of the semiconductor industry. Today. The rollout of AI infrastructure and our GaN work is not only aligned with a major industry push, but we also believe it can be executed with faster time to revenue than our other segments. So today is an exciting time to be at Atomera and if we can execute on the opportunities in front of us, we will need to grow to support all the anticipated business. Now, Francis will review our financials.

我們在門和記憶體方面所做的工作與半導體產業的最大驅動力直接相關。今天。人工智慧基礎設施的推出和我們的 GaN 工作不僅與主要的行業推動相一致，而且我們還相信它可以比我們其他部門更快地實現收入。因此，今天對 Atomera 來說是一個令人興奮的時刻，如果我們能夠抓住眼前的機會，我們將需要不斷發展以支持所有預期的業務。現在，弗朗西斯將審查我們的財務狀況。

Thank you, Scott. At the close of the market. Today, we issued a press release announcing our results for the third quarter of 2024. And this slide shows our summary financials, our GAAP net loss for the three months ended. September 30, 2024 was $4.6million or $0.17 per share compared to a net loss of $5million or $0.20 of share in the third quarter of 2023.

謝謝你，斯科特。市場收盤時。今天，我們發布新聞稿，公佈了 2024 年第三季的業績。這張投影片顯示了我們的財務摘要、截至三個月的 GAAP 淨虧損。截至 2024 年 9 月 30 日，淨虧損為 460 萬美元，即每股 0.17 美元，而 2023 年第三季淨虧損為 500 萬美元，即每股 0.20 美元。

In Q2 of this year, our GAAP net loss was $4.4 million which was $0.16 per share revenues were $22,000 in Q3 compared to $72,000 in Q2 of this year and zero in Q3 of 2023. GAAP operating expenses were $4.8million in Q3 2024 which was a decrease of approximately $534,000 from $5.4million of OpEx in Q3 of 2023. Mainly due to a $546,000 decline in R&D expenses and $117,000 decline in sales and marketing expense.

今年第二季度，我們的GAAP 淨虧損為440 萬美元，即每股0.16 美元，第三季的營收為22,000 美元，而今年第二季的營收為72,000 美元，2023 年第三季的營收為零。2024 年第三季的 GAAP 營運支出為 480 萬美元，比 2023 年第三季的 540 萬美元營運支出減少約 53.4 萬美元。主要是由於研發費用減少了 546,000 美元，銷售和行銷費用減少了 117,000 美元。

This was offset in part by $129,000 increase in G&A expenses. The decline in R&D expense was mainly due to the closure of our outsourced, outsourced foundry TSI semiconductor. In the first quarter of this year, sales and marketing declined year over year, primarily due to lower headcount.

這被 129,000 美元的一般管理費用增加部分抵消。研發費用的下降主要是因為我們的外包、外包代工廠TSI半導體的關閉。今年第一季度，銷售和行銷年減，主要是因為員工人數減少。

Sequentially, our GAAP operating expenses increased by $191,000 to $4.8million inQ3 compared to $4.6million in Q2 of this year, reflecting an increase of $170,000 in R&D expense and a $41,000 increase in sales and marketing. While G&A decreased slightly non-GAAP net loss in Q3 2024 was $3.9million. And compares to a loss of $4.3million in Q3 2023. And as with our GAAP results, the smaller loss was primarily due to R&D and sales and marketing expenses being lower.

隨後，我們第三季的 GAAP 營運費用增加了 191,000 美元，達到 480 萬美元，而今年第二季為 460 萬美元，反映出研發費用增加了 17 萬美元，銷售和行銷費用增加了 41,000 美元。雖然一般管理費用略有下降，但 2024 年第三季的非 GAAP 淨虧損為 390 萬美元。相較之下，2023 年第三季虧損 430 萬美元。與我們的 GAAP 業績一樣，虧損較小主要是由於研發以及銷售和行銷費用較低。

Sequentially, non-GAAP net loss increased by $251,000 from Q2 of 2024 due to the increase in operating expenses combined with lower revenue. The differences between GAAP and Non-GAAP operating expenses in all the periods we've presented are primarily due to noncash stock compensation expenses which were approximately $900,000 in Q3 of this year and $1million in each of Q2 2024. And in Q3 of 2023. Our balance of cash equivalents and short-term investments on September 30, 2024 was $17.3million compared to $18.3million at the end of Q2 2024. During the most recent quarter, we used $2.9million of cash in operating activities compared to $3.2million in the first quarter of this year. During Q3, we sold approximately 691,000 shares under our ATM facility at an average price per share of $3.18 resulting in net proceeds of approximately $2.1million.

由於營運費用增加和收入下降，非 GAAP 淨虧損較 2024 年第二季增加了 251,000 美元。我們提出的所有期間的 GAAP 和非 GAAP 營運費用之間的差異主要是由於非現金股票補償費用，今年第三季約為 90 萬美元，2024 年第二季約為 100 萬美元。2023 年第三季。截至 2024 年 9 月 30 日，我們的現金等價物和短期投資餘額為 1,730 萬美元，而 2024 年第二季末為 1,830 萬美元。最近一個季度，我們在經營活動中使用了 290 萬美元的現金，而今年第一季為 320 萬美元。第三季度，我們透過 ATM 設施以每股 3.18 美元的平均價格出售了約 691,000 股股票，淨收益約為 210 萬美元。

As of September 30, 2024 we had $28.3million shares outstanding. Revenue in Q3 was $22,000 and consisted of MST cad license revenue and we expect that our Q4 revenue will be approximately the same as in Q3.

截至 2024 年 9 月 30 日，我們已發行股票價值 2,830 萬美元。第三季的收入為 22,000 美元，包括 MST cad 許可證收入，我們預計第四季度的收入將與第三季大致相同。

We're not providing revenue guidance beyond this quarter. Consistent with our normal practice, the next major revenue milestone under our agreement with ST will occur when they complete the qualification process, which as Scott said in his remarks is proprietary information and the timeline is in STs control.

我們不會提供本季之後的收入指引。按照我們的正常做法，我們與 ST 達成的協議下的下一個主要收入里程碑將在他們完成資格認證過程時發生，正如 Scott 在講話中所說，這是專有信息，時間表由 ST 控制。

Moving to our expense guidance. During the first nine months of this year, we incurred total non-GAAP operating expenses of $11.5million which has us on track for a range of $15.75million to $16million of OpEx for the full year below the guidance we provided last quarter, we're in our 2025 planning process now.

前往我們的費用指南。今年前 9 個月，我們的非 GAAP 營運支出總額為 1,150 萬美元，這使我們全年的營運支出預計將在 1,575 萬美元至 1,600 萬美元之間，低於我們上季度提供的指導。的2025 年規劃過程中。

But I can tell you, we expect to make additional investments in sales and marketing and we continue to explore the most effective ways of utilizing outsourced foundry services. So, our non-GAAP OpExs in 2025 will be higher than this year, likely in the range of $16million to $17million. We'll provide more color on this in our next quarterly update call.

但我可以告訴你，我們希望在銷售和行銷方面進行額外投資，並且我們將繼續探索利用外包代工服務的最有效方法。因此，我們 2025 年的非 GAAP 營運支出將高於今年，可能在 1,600 萬美元至 1,700 萬美元之間。我們將在下一次季度更新電話會議中提供更多相關資訊。

Lastly, I want to give a quick update on our efforts for CHIPS Act funding. This topic is especially timely since I'm joining today's call from Washington DC where I'm attending the annual meeting of the microelectronics Commons and the symposium of the National Semiconductor Technology Centers or NSTC.

最後，我想簡要介紹一下我們為 CHIPS 法案資助所做的努力。這個主題特別及時，因為我是從華盛頓特區參加今天的電話會議，在那裡我正在參加微電子學共享年會和國家半導體技術中心或 NSTC 的研討會。

In July, we submitted a funding proposal related to our work on GaN and other compound semiconductors, but no decisions have been made. On that yet. We expect that the next phase of the [RFP] will be announced in late Q4 or Q1.

7 月份，我們提交了一份與 GaN 和其他化合物半導體工作相關的資助提案，但尚未做出任何決定。還在那方面。我們預計下一階段的 [RFP] 將在第四季末或第一季宣布。

Everything I'm hearing at the conference confirms there are many applications and funding opportunities for Atomera under the CHIPS Act and our technology is compelling to various government departments. With that. I will turn the call back over to Scott for a few summary remarks before we open the call up for questions, Scott.

我在會議上聽到的一切都證實，根據 CHIPS 法案，Atomera 有許多申請和資助機會，而且我們的技術對各個政府部門都很有吸引力。就這樣。在我們開始提問之前，我會將電話轉回給斯科特，讓他做一些總結性發言，斯科特。

Thanks a lot Frank, from today's call. I hope you have a sense of the building momentum that we're feeling right now is a very exciting time to be part of the Atomera story. Our technology is being sought out by some of the biggest players in the industry, is perfectly aligned with several industry trends and should form a very strong growth engine on top of the revenue base that we hope to build with. ST is our foundation. Thanks as always for your support and Mike, we will now take questions.

非常感謝弗蘭克今天的電話。我希望您能感受到我們現在所感受到的不斷增強的勢頭，這是參與 Atomera 故事的一個非常激動人心的時刻。我們的技術正在受到該行業中一些最大的參與者的青睞，完全符合幾個行業趨勢，並且應該在我們希望建立的收入基礎之上形成一個非常強大的成長引擎。ST是我們的基礎。一如既往地感謝您的支持和邁克，我們現在將回答問題。

All right. Thank you, Scott.

好的。謝謝你，斯科特。

(multiple speakers)

（多個發言者）

Richard Shannon, Craig-Hallum.

理查德·香農，克雷格·哈勒姆。

Okay, great. Thank you, Mike and thanks Scott and Frank for taking my questions. Let's see here. I guess my first one is for Scott here. You made very interesting statement in your prepared remarks about in active conversations. And I've probably got the language wrong here, but a transformative situation. Maybe you just give us a little bit more detail on exactly what this means. Any idea on technology area sounds like it could be a number of months before it closes, sounds complex, but maybe give us a little bit more detail there. I'll probably have a follow up.

好的，太好了。謝謝麥克，也謝謝斯科特和弗蘭克回答我的問題。讓我們看看這裡。我想我的第一個是給史考特的。您在準備好的關於積極對話的評論中發表了非常有趣的言論。我可能用詞錯誤，但這是一個變革性的情況。也許您只是向我們提供更多關於這到底意味著什麼的細節。關於技術領域的任何想法聽起來都可能需要幾個月的時間才能關閉，聽起來很複雜，但也許可以給我們更多細節。我可能會有後續行動。

Yeah. So, what do I mean by a transformative? I guess I would say this is a, a large customer with very significant revenue potential that could really kind of if we get into production with these guys, provide a really interesting financial position for us just if you look at our business model and the potential for high gross margin revenue, if we can work with a company that is very large and can deliver high revenue. And that will certainly be very compelling for us.

是的。那麼，我所說的改變是什麼意思呢？我想我會說這是一個具有非常巨大收入潛力的大客戶，如果我們與這些人一起投入生產，只要您看看我們的商業模式和潛力，就可以為我們提供非常有趣的財務狀況對於高毛利率收入，如果我們可以與一家非常大並且能夠提供高收入的公司合作。這對我們來說肯定非常有吸引力。

We feel great about business there and we've been working with them for some time, as we've said in the past, we don't give proposals to companies unless we've been working together for quite a while and we have a meeting of the mind that it makes sense. This is one of those proposals that we've had outstanding before and now we've gotten into kind of active negotiations. I can't really say much about the segment they're in. But or the timing, but I can say that it's something we're quite excited about.

我們對那裡的業務感覺很好，並且我們已經與他們合作了一段時間，正如我們過去所說，我們不會向公司提供建議，除非我們已經合作了很長一段時間並且我們有一個頭腦中的會議認為這是有道理的。這是我們之前尚未解決的提案之一，現在我們已經進入了積極的談判。關於他們所處的細分市場，我真的不能說太多。但是或者時間，但我可以說這是我們非常興奮的事情。

Okay, I'm going to ponder those thoughts and maybe follow up here in a second. I think the bigger question by which this this potentially transformative situation kind of bleeds into. And I think it's the amongst the very first questions that people ask here is you've got a very good funnel with most of the like half of the top 20 semi actor, largest semi companies in the world in the funnel. But I think everyone would like to see you get across the finish line with a qualification. We obviously have ST micro announced here and seemingly moving in an expected time frame towards completion there, maybe you can talk about to the degree to which you're seeing progress with others that are far down that funnel. And maybe if you want to give any detail as to technology area or areas that you think could be amongst the first ones that get to that point.

好的，我將思考這些想法，也許稍後會繼續討論。我認為更大的問題是這種潛在的變革情勢所帶來的影響。我認為人們在這裡問的第一個問題是，你有一個非常好的漏斗，其中大部分是世界上排名前 20 的半成品演員、最大的半成品公司中的一半。但我想每個人都希望看到你以資格賽衝過終點線。顯然，我們在這裡宣布了 ST micro，並且似乎在預期的時間範圍內朝著完成的方向前進，也許您可以談論您看到的與處於該漏斗底部的其他人的進展程度。也許您想提供有關技術領域或您認為可能是最先達到這一點的領域的任何詳細資訊。

Okay. Let me do my best here. So, when we talk about the funnel, we have customers today, we primarily have customers in phase one, phase three and phase four ones in phase four. obviously, they have the technology installed in their fab and they've run wafers and are making good progress in those segments.

好的。讓我在這裡盡力而為。所以，當我們談論漏斗時，我們今天有客戶，我們主要有第一階段、第三階段和第四階段第四階段的客戶。顯然，他們在自己的晶圓廠中安裝了該技術，並且已經運行了晶圓，並且在這些領域取得了良好的進展。

The customers in phase three are the ones where we're active experiments with many of them at any point in time. And we're always hopeful that they get to the point where they achieve the performance level that they need to make the decision to move forward into production.

第三階段的客戶是我們在任何時間點都積極進行實驗的客戶。我們始終希望他們能夠達到做出投入生產決定所需的性能水準。

I would say one thing we've been noticing lately is that some of the legacy technologies that we work with are take a bit longer to get to production they take longer to decide to change their process node and then once they're ready to make that change they go through a very long process of doing that. I would say ST is one that falls into this category. We believe that some of the more advanced node customers that we've been talking about like gate all around in memory will move faster.

我想說的是，我們最近注意到的一件事是，我們使用的一些遺留技術需要更長的時間才能投入生產，他們需要更長的時間來決定改變他們的工藝節點，然後一旦他們準備好製作他們要經歷一個非常漫長的過程才能做出改變。我想說 ST 就屬於這一類。我們相信，我們一直在談論的一些更先進的節點客戶（例如記憶體中的門）將會移動得更快。

But they'll require huge, huge amounts of resources we know that on, in those companies, they have massive teams of engineers working on these new nodes and when we're working with them, they ask us for a lot of data and they're constantly pushing us to do more and more experiments for them and with them. And, but we do believe because there's so many people on their side and there's such a big push to get to production that they'll be faster time to market. So, I mean, that gives you a little bit of insight into the work that we have going with the many different customers that we have underway right now.

但他們需要大量的資源，我們知道，在這些公司中，他們有大量的工程師團隊在這些新節點上工作，當我們與他們合作時，他們要求我們提供大量數據，他們不斷推動我們為他們以及與他們一起做越來越多的實驗。而且，我們確實相信，因為有這麼多人支持他們，而且有如此大的推動力來推動生產，他們將更快地進入市場。所以，我的意思是，這讓您對我們目前正在與許多不同客戶進行的工作有一些了解。

Okay. Well, a couple of interesting insights there, Scott, I appreciate that. Maybe let's touch on a couple of the technology areas here. I guess I wanted to follow up on RF-SOI. I think in the last quarter or two, you talked about an advancement industry with going towards thinner wafers. That that seems to have been at least my conclusion would be that was one of the significant delay factors. when we've been hearing about RF-SOI potential for a number of years now, maybe give us an update there of how much that has pushed the ball forward here in terms of moving people towards that eventual goal here or are there other potential to overcome in that technology space?

好的。嗯，斯科特，有一些有趣的見解，我很欣賞。也許讓我們談談這裡的幾個技術領域。我想我想跟進 RF-SOI。我認為在過去一兩個季度，您談到了向更薄晶圓發展的先進行業。這似乎至少是我的結論，這是重要的延遲因素之一。當我們多年來一直聽說 RF-SOI 潛力時，也許可以給我們更新一下，在推動人們實現最終目標方面，它在多大程度上推動了這裡的發展，或者是否還有其他潛力在該技術領域克服了什麼？

No, I just think this is a case where the latest and greatest as we've talked about the latest kind of thing that the industry has identified to take them to the next level of performance is to use these thinner wafers. Earlier in the year, we announced an agreement with [sote] to the point where they would make and sell engineering wafers to our customers that would so they could run test more test to bring that type of technology to market.

不，我只是認為在這種情況下，正如我們所討論的，業界已確定將其性能提升到一個新水平的最新和最偉大的方法是使用這些更薄的晶圓。今年早些時候，我們宣布與 [sote] 達成協議，他們將製造並向我們的客戶銷售工程晶圓，以便他們可以進行更多測試，以將此類技術推向市場。

And we've been just working with that on our customers that are working in this area and unfortunately, no announcements yet there. But I would say we're continuing to move forward, making good progress and getting regular results that hopefully will lead us to the point where we're ready to start making some announcements.

我們一直在與在該領域工作的客戶合作，但不幸的是，目前還沒有任何公告。但我想說的是，我們正在繼續前進，取得良好進展並定期取得結果，希望這將使我們準備好開始發布一些公告。

Okay. Two last questions for me and I will jump out of the line here. Let's see here. Sounds like there's some interesting progress going on the advanced nodes here. And I think the comment that you made was referring to both the logic and the memory side here, but maybe and I guess this is probably a question more on the logic side, but is your work ongoing with both foundries and fabulous players alike?

好的。最後兩個問題要問我，我將在這裡跳出。讓我們看看這裡。聽起來這裡的高階節點正在取得一些有趣的進展。我認為您所做的評論是指這裡的邏輯和內存方面，但也許，我想這可能更多是邏輯方面的問題，但是您的工作是否正在與代工廠和出色的玩家一起進行？

On the advanced note No, for the most part, we are working only with people who manufacture the gate all around years ago, you could work with foundry partners on the upcoming advanced [nodes] and they would help to influence the foundry partner to manufacture with their ideas but these days gate all around is so complicated. That really the fabulous guys don't have as much influence as they used to have, let's say. And so, we would be targeting primarily the folks who have the factories that are going to run these chips.

關於高級註釋不，在大多數情況下，我們只與多年前製造門的人合作，您可以與代工合作夥伴在即將到來的高級[節點]上合作，他們將幫助影響代工合作夥伴進行製造與他們的想法，但現在周圍的門是如此複雜。可以說，那些出色的人確實沒有以前那麼大的影響力了。因此，我們的目標主要是那些擁有運行這些晶片的工廠的人。

Okay. Fair enough then. And my last question is just hitting on JDA one specifically. Sounds like there's been some back and forth of going to Central Engineering and trying to get something moving with the specific customer groups here. It wasn't clear to me based on your comments about whether there's some good progress being made in getting to some sort of business relationship there. Maybe if you can touch on the specifics there, please.

好的。那就足夠了。我的最後一個問題專門針對 JDA 問題。聽起來好像在去中央工程部並試圖與這裡的特定客戶群取得一些進展方面進行了一些來回。根據您的評論，我不清楚在建立某種業務關係方面是否取得了一些良好進展。也許您可以談談那裡的具體細節。

Yeah, I would say there's a slight difference to this set of requests that we have from what we've had in the past. And as we are first engaged with JDA one at the Central Engineering level and they proved out our technology kind of gave it a blessing of approval for people in the company to use. Today, the inquiries that we are getting the work that we are doing now is to address a very specific application with a very specific solution.

是的，我想說，我們收到的這組請求與過去的請求略有不同。當我們第一次在中央工程層級與 JDA 合作時，他們證明我們的技術在某種程度上得到了公司人員批准使用的祝福。今天，我們收到的詢問是我們正在做的工作是透過非常具體的解決方案來解決非常具體的應用程式。

And of course, they want to know that our technology can actually deliver on some of the performance metrics that we have shown them in that application and I would say it's certainly typical that you bring a customer a lot of data showing. Hey, we can really do this and then they say they give you a request for 10 more pieces of data to validate all of their doubts. And so that's kind of the stage that I'd say we're in right now.

當然，他們想知道我們的技術實際上可以提供我們在該應用程式中向他們展示的一些效能指標，我想說，您向客戶提供大量顯示的數據當然是典型的。嘿，我們真的可以做到這一點，然後他們說他們要求您再提供 10 條數據來驗證他們所有的懷疑。我想說，這就是我們現在所處的階段。

Okay. Fair enough. I will jump on the line. Thanks for all the details.

好的。很公平。我會跳線。感謝您提供所有詳細資訊。

All right. Thanks Richard. We have a number of questions coming in on the on the Q&A line and I'll just dive in. The first is the recent announcement about Sandia labs related to the Chips Act application submitted in July.

好的。謝謝理查德。我們在問答專線中收到了很多問題，我將深入探討。第一個是最近關於桑迪亞實驗室與 7 月提交的《晶片法案》申請相關的公告。

Yeah. No, I'll take that one. No, it's not it's independent of that. And which is really great because I think it opens up another avenue for us to demonstrate the GaN technology. with the CHIPS Act opportunities, we did submit one that was relevant again, but also to other applications of MST and compound semiconductors.

是的。不，我要那個。不，這不是獨立的。這真的很棒，因為我認為它為我們展示 GaN 技術開闢了另一條途徑。借助《CHIPS 法案》的機會，我們確實提交了一份再次相關的報告，但也與 MST 和化合物半導體的其他應用相關。

So basically, to give a little bit more color on Sandia, we had proven out the physical benefits of MST in building a GaN on silicon wafer in terms of better quality because of all the stress that's created by building GaN on silicon and something that we could improve there. But at Texas State, we had no ability to actually test electrically how a device would perform when built on that.

因此，基本上，為了在桑迪亞上提供更多的色彩，我們已經證明了MST 在矽晶圓上構建GaN 的物理優勢，因為在矽晶圓上構建GaN 所產生的所有應力以及我們在質量方面的優勢那裡可以改進。但在德州州立大學，我們沒有能力實際對以此為基礎建造的設備的性能進行電氣測試。

What we found at Sandia was they had a window under a rapid access program to get us in and start testing. How when you built GaN devices on those kinds of substrates that we had worked on with Texas state to show that they would actually perform better. In addition to the physical quality is being improved. So, the nice thing about that is the Sandia work is at no cost to us, but what we proved there should make us more attractive for both CHIPS Act funding but also for the several commercial customers that we've gone out and spoken to about our, our GaN offering.

我們在桑迪亞發現，他們在快速訪問程序下有一個窗口，可以讓我們進入並開始測試。當您在我們與德克薩斯州合作的此類基板上建立 GaN 裝置時，我們發現它們實際上會表現得更好。另外身體素質也在不斷提升。所以，好處是桑迪亞工作對我們來說是免費的，但我們在那裡證明的應該使我們對 CHIPS 法案資金以及我們已經出去交談的幾個商業客戶更具吸引力我們的，我們的GaN 產品。

And the last thing I can tell you is I have seen many opportunities for GaN and other compound semiconductors where there are funding opportunities there. So that's something we'll continue to pursue but they are separate.

我可以告訴你的最後一件事是，我看到了 GaN 和其他化合物半導體的許多機會，其中有融資機會。所以這是我們將繼續追求的目標，但它們是分開的。

Okay. Thanks Francis. And there's questions regarding the proposals and customers in the pipeline and folks are wondering if they're currently, if all the proposals we have outstanding are currently in the pipeline in for example, phases, one, two, three.

好的。謝謝弗朗西斯。關於正在醞釀中的提案和客戶存在疑問，人們想知道我們目前尚未完成的所有提案是否都在醞釀中，例如第一、二、三階段。

Okay. Yeah, I would say that yes, all of our current proposals are with customers that are in our pipeline. they're not all in phase three, some are in phase one. But they are all people that we have been doing work with. Yeah, for some time.

好的。是的，我想說的是，我們目前的所有提案都是針對我們正在考慮的客戶。它們並非全部處於第三階段，有些處於第一階段。但他們都是我們一直合作過的人。是的，有一段時間了。

Okay. And then Francis, there are questions about plans for funding. Do you want to address the outlook for funding and cash needs?

好的。然後弗朗西斯，有關於資金計劃的問題。您想解決資金和現金需求的前景嗎？

Sure, I mean, you guys would have seen in the financials and in my comments that we ended the quarter with a lower cash balance than we did at the end of June. And obviously, we didn't want to be selling any more stock under the ATM program, than we had to given that the stock in the last number of months was at pretty close to historically low levels. We always have to balance not diluting our shareholders and with the fact that we need to maintain a minimum cash balance of greater than 12 months of what we plan to spend in the future. That's just a requirement under GAAP accounting. So that's always going to be the balance that we maintain. And to the extent that we can be more conservative when the stock price appears to be relatively low, we will do that.

當然，我的意思是，你們會在財務數據和我的評論中看到，我們本季結束時的現金餘額比六月底要低。顯然，我們不想在 ATM 計劃下出售更多的股票，因為過去幾個月的股票非常接近歷史低點。我們始終必須在不稀釋股東權益和我們需要保持至少 12 個月以上未來計畫支出的最低現金餘額之間取得平衡。這只是 GAAP 會計的要求。所以這永遠是我們維持的平衡。當股價看起來相對較低時，只要我們能夠更保守，我們就會這樣做。

Okay. It looks like Richard has a follow up question, Richard. Did you have another question?

好的。看起來理查德有一個後續問題，理查德。您還有其他問題嗎？

Yes, I do think. Thanks Mike, Scott. I want to follow up on one of your comments in your prepared remarks regarding power in the 7 volts to 48-volt range. Very interesting dynamics going on. There are ones that we are reasonably familiar with here. I guess a couple of questions to this end here. To what degree is the work that you're doing in this voltage range specific to 48 volt that's related to servers versus more kind of broad broadly across the, across the space here. And then, well, actually let me just stop at that point, Scott.

是的，我確實這麼認為。謝謝麥克、斯科特。我想跟進您在準備好的評論中關於 7 伏特至 48 伏特範圍內的電源的評論之一。正在發生非常有趣的動態。有些是我們相當熟悉的。我想為此提出幾個問題。您在這個特定於 48 伏特的電壓範圍內所做的工作在多大程度上與伺服器相關，而不是更廣泛的範圍，跨這裡的空間。然後，好吧，實際上讓我就此打住，斯科特。

Yeah, we've been talking about our SPX technology for a little while now. And although it had really been targeted from 7 volts to 48 volts, in fact, most of the interest that we saw in the industry earlier was probably not as high as the high end of 48 volts. Now the 48-volt stuff is, yes, it's very specifically tied to this expanding opportunity in in data centers. That being said, it's the same type of transistor structure that would be used for other high 48-volt power requirements. But I think the big opportunity is located there at the data centre right now.

是的，我們談論 SPX 技術已經有一段時間了。儘管它的目標電壓確實是從 7 伏特到 48 伏特，但事實上，我們之前在行業中看到的大部分興趣可能沒有 48 伏特的高端那麼高。是的，現在 48 伏特的產品與資料中心不斷擴大的機會密切相關。也就是說，它與用於其他 48 伏特高功率要求的電晶體結構類型相同。但我認為現在最大的機會就在資料中心。

And by the way, I started to say, we we've been talking about SPX for a while, but we actually modified it specifically for 48 volts. So, this is a little bit it's in the family but it's slightly different than the rest of the stuff we're doing at the lower voltage, and it's really optimized around the 48 volts. I have to say I'm quite excited about it. Our, the results that we've gotten from testing show really good efficiency improvements that I think will be very attractive to people. But we are just starting to talk to customers about it today.

順便說一句，我開始說，我們已經談論 SPX 一段時間了，但我們實際上專門針對 48 伏特對其進行了修改。所以，這只是該系列中的一點，但與我們在較低電壓下所做的其他事情略有不同，而且它確實在 48 伏特周圍進行了優化。我不得不說我對此感到非常興奮。我們從測試中獲得的結果顯示出非常好的效率改進，我認為這對人們來說非常有吸引力。但我們今天才開始與客戶討論這個問題。

Okay. Excellent. We'll look forward to hearing more about that. My other question and I'll jump back out of line here is following up on a what your response to one of my earlier questions here where it seems like you've concluded or at least the trend that you've seen in past discussions here is if you're trying to insert yourself into legacy nodes here, it's the time frame to get to production and or to get to a license and moving forward is seem to be more delayed than with newer nodes here. I guess is there anything you can do to help accelerate that in any way or is this just a relic of working with companies with legacy nodes? And? Well, yeah, so let me stop there.

好的。出色的。我們期待聽到更多相關資訊。我的另一個問題，我將在這裡跳回來，是跟進您對我之前的一個問題的回應，您似乎已經得出結論，或者至少是您在過去的討論中看到的趨勢如果您嘗試將自己插入到這裡的舊節點中，那麼這是進入生產和/或獲得許可證的時間範圍，並且向前推進似乎比這裡的新節點更延遲。我想您可以做些什麼來以任何方式幫助加速這一過程，或者這只是與擁有遺留節點的公司合作的遺留問題？和？嗯，是的，所以讓我就此打住。

No, it's a great question because I think what we have been doing up to now is going out and telling people, okay, we have got this, for example, on Power SPX technology and we already announced that we have one customer on it. When they get to production, they are going to bringing a whole new level of performance. And it was our belief that that would drive some of their competitors to say, okay, I got to start developing with that as well Right.

不，這是一個很好的問題，因為我認為我們到目前為止所做的就是出去告訴人們，好吧，我們已經有了這個，例如，Power SPX 技術，我們已經宣布我們有一個客戶在使用它。當他們投入生產時，他們將帶來全新的性能水準。我們相信，這會促使他們的一些競爭對手說，好吧，我也必須開始開發這一點，對吧。

It has happened but it hasn't happened as across the board as we had hoped it would and it hasn't probably accelerated the development efforts at those companies as quickly as we like. We do believe when ST hits the market, that's going to make a big difference. And also, some of the proposals that we have outstanding are with companies that would be entering into that space. So, I think we'll get more even before ST goes to production.

它已經發生了，但並沒有像我們希望的那樣全面發生，而且它可能沒有像我們希望的那樣加快這些公司的開發工作。我們確實相信，當 ST 進入市場時，將會產生巨大的變化。此外，我們尚未提出的一些提案是針對即將進入該領域的公司的。因此，我認為即使在 ST 投入生產之前我們也會得到更多。

That's my belief. But yeah, I mean, just if you think back about the history of ST, we started working with them in 2017 or 2018, we did some experiments. By the end of 2019, we really had shown excellent results with them. And between COVID and then building a new factory, they didn't really start work on the new process note until 2022.

這就是我的信念。但是，是的，我的意思是，如果你回顧一下 ST 的歷史，我們在 2017 年或 2018 年開始與他們合作，我們做了一些實驗。到 2019 年底，我們確實與他們一起展示了出色的成果。從新冠疫情爆發到建造新工廠，他們直到 2022 年才真正開始製定新工藝說明。

So it's not that they take a long time once they decide to go to production, I think that part is maybe slightly slower but similar to another process node going to production. But the decision to make a change to an old legacy node that's been running in high volume for some time. That doesn't come up every year and so sometimes we have to wait for that to happen.

因此，並不是說他們一旦決定投入生產就需要很長時間，我認為該部分可能會稍微慢一些，但與另一個投入生產的製程節點類似。但決定對已經大量運行了一段時間的舊遺留節點進行更改。這種情況並不是每年都會發生，所以有時我們必須等待這種情況發生。

Okay. All right. I think that makes sense. I will jump out of line. Thank you, Scott.

好的。好的。我認為這是有道理的。我會跳出隊伍。謝謝你，斯科特。

Thanks Richard.

謝謝理查德。

All right. And just, looks like one or two more questions here. The question is you addressed ST in the prepared comments, but generally, how is the relationship growing are going and are there more comments you could add to give us a sense of the progress?

好的。只是，看起來還有一兩個問題。問題是您在準備好的評論中談到了 ST，但總的來說，雙方關係的發展進展如何？

Yeah, let me say a few things about it. First of all, ST is a excellent company to work with. There are, I think they were the company that invented BCD technology, which is what our SPX is running on and so obviously, we are working with some of the best technical experts in the field here. And I think we really enjoy the back and forth to be able to constantly be improving the products.

是的，讓我說幾件事。首先，ST是一家非常值得合作的公司。我認為他們是發明 BCD 技術的公司，我們的 SPX 正是在該技術上運行的，因此顯然，我們正在與該領域的一些最優秀的技術專家合作。我認為我們真的很享受能夠不斷改進產品的過程。

Things are, have been going so well with ST that we have also kind of executed a land and expand type of strategy where we have already started working with some other groups inside ST as well. And so hopefully we'll be able to expand our business into them to multiple business units. And it's possible we could do that even before we get to volume production with the first product. So, things are going very well with them.

ST 的事情進展得非常順利，以至於我們也執行了一種土地和擴展類型的策略，我們也已經開始與 ST 內部的其他一些團隊合作。因此，希望我們能夠將我們的業務擴展到多個業務部門。我們甚至可以在第一個產品進入大量生產之前就做到這一點。所以，他們的一切進展順利。

Okay. And just one final question, can you provide some comments on the gate all around silicon results that were presented at prime 2024?

好的。最後一個問題是，您能否對 2024 年 Prime 大會上公佈的矽片結果提供一些評論？

Sure. Okay. It's quite technical but one of the things that we presented at prime 2024. Let me explain this in a gate all around source and drain. It's very high doped, phosphorus source or drain. And then it's going to go into a channel where they don't want any doping at all.

當然。好的。這是相當技術性的，但卻是我們在 2024 年黃金時段展示的內容之一。讓我在源極和汲極周圍的閘極中解釋這一點。它是非常高摻雜的磷源極或汲極。然後它將進入一個他們根本不需要任何興奮劑的管道。

They'd like that to be almost dopant free. So that since the structures are so small, it's difficult to keep that gate, which is highly phosphorous doped from diffusing into the channel and lower and if it diffused into the channel enough, it can actually cause a short circuit between the source and the drain or at least such low performance that the device won't yield. So that will be a low yield product.

他們希望它幾乎不含摻雜劑。因此，由於結構如此之小，很難阻止高磷摻雜的閘極擴散到通道和下部，如果它擴散到通道足夠多，實際上會導致源極和汲極之間的短路或至少性能如此之低以至於設備無法屈服。所以這將是一個低產量的產品。

We believe that by putting MST at that interface between the source and the channel that we will help prevent phosphorus from flowing into the channel side and either shorting or having lower performance. So, number one, it will lead to higher performance. But even more importantly, it will help we believe the gate all around manufacturers to yield higher, a higher number of transistors when they're in manufacturing.

我們相信，透過將 MST 放置在源極和通道之間的界面上，我們將有助於防止磷流入通道側並導致短路或性能降低。因此，第一，它將帶來更高的性能。但更重要的是，它將幫助我們相信製造商在製造過程中能夠生產出更高、更多數量的電晶體。

So that's one of several applications that we have in in gate all around that we're promoting to customers. Robert. I think Robert's slides from that that conference are available publicly or they may be available publicly soon. But in any case, it will show that we, our diffusion blocking can really bring that benefit that I talked about.

這是我們正在向客戶推廣的多種應用程式之一。羅伯特.我認為羅伯特在那次會議上的幻燈片已經公開，或者可能很快就會公開。但無論如何，它都會顯示我們，我們的擴散阻斷確實可以帶來我談到的那種好處。

Great. All right, Scott, I think we that wraps up the Q&A session. You want, you may prepare with the closing remarks.

偉大的。好吧，史考特，我想我們的問答環節就結束了。如果你願意，你可以準備結束語。

All right, great. Yeah. First of all, I just want to say thank you all for joining us to hear the progress being made within Adamera. Please continue to look forward to our news articles and blog posts which are available along with investor alerts on our website Adamera dotcom. Should you have additional questions, please contact Mike Bishop, who'll be happy to follow up. Thanks again for your support and we look forward to our next update call.

好吧，太好了。是的。首先，我想說，感謝大家加入我們，聆聽 Adamera 所取得的進展。請繼續期待我們的新聞文章和部落格文章，這些文章和投資者警報可以在我們的 Adamera dotcom 網站上找到。如果您還有其他問題，請聯絡 Mike Bishop，他將很樂意跟進。再次感謝您的支持，我們期待下次更新電話。

Thank you Scott. And with that concludes the Atomera third quarter, 2024 conference call.

謝謝斯科特。Atomera 2024 年第三季電話會議就此結束。