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Let me tell you a little bit about what an OLED is. OLED is a series of reactions formed between two conductors; glass made; we saw with a substrate, glass, plastic or metal foil. In plastic you need a thin film encapsulation guard of layers; you’ll see black and you’ll have purple; if you are on a purple because those are the business areas that we are focusing on. Then put an (inaudible) down, we have a whole injecting material, a whole transforming material and the emissions layers static material.The emission layer that’s also purple and comprise a host and (inaudible) and the best analogy is on the chocolate milk, where the host is the milk and the chocolate is the derivative where you put a little bit of the chocolate and a little bit of the derivative and you mix it, and to the host over the milk and it creates chocolate milk. We initially saw just the emitters. We have over the last few years for each one host material as well. You have an EPL, a cathode, glass, plastic or thin film encapsulation again. You seal it up and you attach it to a power switch. That is an OLED, it can't get much simpler. Now this entire area is called the organic stack; that entire area is 1/1000th the thickness of a human hair. But you see the new display and lighting elements are an OLED is basically as flat as the glass or plastic or metal foil that you put it on, makes it also to be flexible and transparent. The market is really growing. This past year, this is display chart estimate, that’s $3.5 billion, more than double from 2010. What we are seeing with these markets projections are really interesting; you see in 2018 we are now projecting $34 billion. Six months ago if we look at the market projection, they would have been lower.
For the past year and a half we are seeing market projections increasing for OLED which is different than the first decade and a half that we are working in this field, because the first decade and a half we will be presenting the display numbers in every year and we change the dates on the chart and say in five years it will be a $3 billion market last year. Well it was a $3 billion market last year.So you see the way this growth and we expect our company to grow with it. And if you look at our historical financial performance, our revenues have doubled over the last three years, essentially in line with the market. We are giving guidance of $90 million to $110 million for this year. We're very comfortable with that guidance and as I mentioned before, we made money last year, in the first time of our history and we intend to make much more money moving forward. Very strong profitable structure; in the late 2010, and we draw close in 2011, so without cash and equivalents we are $46 million and that’s expanded to $74 million and the shareholders equity $342 million and no debt. So in part 30 years ago, A; always have backups, and B; no debt; and I am not going to say any jokes about Europe right now. With multiple high growth markets, looking and exploiting lighting markets and each of these markets actually have slightly different pressure points. In the portable electronic market we have lower power consumption, lower power consumption is heavy, thanks Phosphorescence and OLED also looks better than an LCD; take the only experiment, any of the Galaxy smartphone, and you mix with best iPhone and tell me which one you like better. A vast majority of people are going to go with the OLED phone. There are LCDs and as always been other cost events Read the rest of this transcript for free on seekingalpha.com