Heliospectra has come up to pace after a slow start in 2016. With several orders, including a breakthrough order from a microalgae producer, we feel the company is gaining more traction in boosting sales. As no major orders were announded during the first few months of 2016, and as we believe changing supplier of LED components might have caused some disruptions in Heliospectra's supply chain we adjust our estimates accordingly. We expect Heliospectra to report sales of SEK 6.5 million in Q1 to then gradually se revenues ramp quarter by quarter for net sales of SEK 48 million in 2016. We remain positive to Heliospectra's future prospects and see an upside of 35 percent to our fair value of 14 SEK in our base case.