Atomera Inc (ATOM)

[roadkilll]

This is probably the most interesting new news from Oct 29
Richard Shannon -- Analyst

OK. Great. Thank you, Mike, and thanks, Scott and Frank, for taking my questions. Let's see here.

I guess my first one is for Scott here. You made very interesting statements in your prepared remarks about in-active conversations, and I've probably got the language wrong here, but a transformative situation. Maybe you could just give us a little bit more detail on exactly what this means. Any idea on technology area? Sounds like it could be a number of months before it closes.

Sounds complex, but maybe give us a little bit more detail there. I'll probably have a follow-up.

Scott A. Bibaud -- President and Chief Executive Officer

Yeah. So, what I mean by transformative, I guess I would say this is a large customer with very significant revenue potential that could really, if we get into production with these guys, will provide a really interesting financial position for us. Just if you look at our business model and the potential for high gross margin revenue, if we can work with a company that is very large and could deliver high revenue, then that will certainly be very, very compelling for us. We feel great about business there, and we've been working with them for some time.

As we've said in the past, we don't give proposals to companies unless we've been working together for quite a while, and we have a meeting of the mind that it makes sense. This is one of those proposals that we've had outstanding before, and now we've gotten into active negotiations. I can't really say much about the segment they're in, or the timing. But I can say that it's something we're quite excited about.