Peter,

I've been thrilled with the recent technological breakthroughs you've accomplished on the powder front. I believe you've positioned yourself extremely well to capitalize on the rapid expansion of AM. 

Just wandering if you could shed some light on the following questions, to the extent you are able of course:

1) In terms of your sales strategy, do you plan on targeting retailers, printer manufacturers, end part manufacturers, all of the above?

2) Do you plan on entering into an exclusive sales agreement with any one party, sell a la carte to any number of parties, or enter into a partnership/joint venture?

3) What kind of feedback have you received from those that you've shipped sample powder orders to?

4) What do you envision the demand will be like for your MIM cut powder?

5) How do you see the demand for the other cuts of powder (SLS and EBM cuts) evolving? Are you concerned at all that other non-powder-bed AM methods, such as directed energy deposition, could become more widely adopted and impact the demand for powder feedstock?

6) Will your newly developed ability to control particle size distribution allow you to significantly differentiate yourself from your competition in terms of price?

I certainly appreciate your willingness to engage your shareholders.

Kind regards,

JLM