Andre Merkley

We, we did wholesale of computer chips and, and, um, as it was fashion that day, we assembled, uh, PCs, personal computers importing from Taiwan, uh, assembling and selling the fixed computers.

Um, we then, um,

Well, 70% of our revenues came from brokerage of computer chips.

We just loaded up for the Christmas season.

And then Hyundai and Samsung announced a new factory of chips and the price went... The price halved while our chips were on the flight.

That was the tip of the iceberg.

But basically, we were...

much too leveraged.

We did not raise, we raised zero on IPO.

We simply listed because we wanted to have this valuation, but we did in 2010, we, we raised the first million for the farming.

So first we, we raised it by the Swiss private investors.

And with them on board, we got to, we raised it via a secondary stock offer.

Interesting.

I'm the biggest shareholder, yeah, but I don't own the majority.

No, actually I,

Well, first of all, 30% was given to my colleagues, the employees that helped us bring to this.

And then you have roughly a 10%.

You have outside investors.

And so I was basically on 60.

Then I truncated that.