and again of re measurement of the Fed consideration mainly associated with acquisition of spin gains in June 2022 on the total outstanding deferred liability that was adjusted to reflect the changes in current fair value. Moving to Slide 10, as you all see on the slide, we ended the 4th quarter with a cash balance of €8,800,000 compared to €11,300,000 as of December 31, 2022, with outstanding liability of US4 $1,000,000 of convertible security. Post quarter end, the company made cash repayment of $500,000 and $1,000,000 settled through issuance of common shares, leaving an outstanding balance as of today at $2,500,000 We expect to continue exercising the right to pay down the existing convertible security subject to ongoing management assessment. Net working capital at the end of December 2023 ended at €5,100,000 which is excluding deferred consideration and convertible debt, which compared to the €6,600,000 at the beginning of the year. From a cash flow perspective, the full year financial year ended December 2023, a total of €11,700,000 generated from operating activities with underlying performance reaching to €13,600,000 offset by the movement in working capital and income taxes of €1,900,000 A total of €9,700,000 invested in intangible assets, mainly related to the capitalization of software development costs to a total value of €8,700,000 €600,000 to the other intangible assets during the period.