Very interested to see what they do to address the GaN market.
So, the GaN market is very interesting. Actually, this whole compound semiconductor, it’s an area that we have been doing research on for a few years. So, although this is our first announcement, it isn’t something we just started thinking about. So, there is multiple ways that our business model can be used for GaN. We can just license our MST technology, just like we do today with regular semiconductor makers to adopt MST on wafers and then build GaN wafers on top of that. That’s one way that we could do it. We will probably license our GaN technology separately from the rest of our licensed technology because it may have very high value. The second thing we could do is maybe we could become a manufacturer of GaN wafers at least in modest volumes, and that would allow us to generate revenue. And if it was a very high-value technology, maybe we could make a very nice-looking gross margin there and help to subsidize the rest of our business. We don’t have a decision to do that yet. I mean we have a very strong philosophy about making a business model that’s got a lot of leverage to the bottom line. And so, if we were to become a manufacturer, obviously, we would have to have a lot more CapEx, which might not work well with that. But we could do something on the smaller volume manufacturing side. And – but I think for our customers who would go into high-volume manufacturing, it’s most likely that we have licensed directly to them. So, we have been looking at the GaN market for a while. We have had a lot of marketing studies going on about how to approach it, but we haven’t got a final determination about what we do. I can tell you, I think it’s a – it would be a much faster time to market. And I am pretty excited about the prospects of MST there and the prospects in a few other areas in the compound semiconductor market.
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