Q: How much does AtomBeam spend on research and development expenses? Also, are there any license agreements associated with the patented technology?
A: The amounts spent on software development are fundamentally R&D expenses. The technology involves some pretty exotic math, combined with very strong programming skills to make the product work ultra-fast while remaining ultra-small, to allow it to fit on virtually any device. We had a working model in 2018 but to get it to a commercial product, with a demo interface, was a considerable effort, and that is what we have been spending most of the time and money on so far. This technology is so fundamental that all kinds of amazing commercial possibilities keep emerging, and we then file patents around those ideas, which in turn requires at least some degree of “reduce to practice”. On the question of license agreements, yes, we have one to date with a small truck telematics company that is currently testing the product on five trucks. The test has gone well, and our software has performed as specified, but deployment has been held up by COVID. We are currently negotiating a contract with a unicorn electric bus company, which we hope to close in the next 60 days or less.