Botaniets 5A

Dear Nassim,

Thank you so much for your kind words and for recognizing the progress we've made since the 2A capital raise. It's been a challenging but rewarding journey, and we're thrilled to have your continued support and interest in reinvesting.

To address your questions:

--OPEX and Revenue for 2023: You’re absolutely right that the OPEX in 2023 was approximately €1.6M, while revenue stood at €850k and EBITDA at -€260k. The gap primarily results from a combination of investments we made in scaling operations and marketing, particularly in new markets like France, the US and UK, and also in our partnerships with prestigious brands like Gault & Millau and Michelin. These strategic partnerships, while increasing short-term costs, are designed to generate long-term value. The cash burn for 2023 is also influenced by these initiatives, but I can provide you with a more detailed breakdown to clarify the specifics.

--2024 YTD OPEX: The YTD figure was calculated as of the end of June 2024. It reflects the actual operating costs up until that point, and we’ve adjusted for any significant variations or one-off expenses. I’d be happy to share a detailed breakdown of the YTD performance so far and explain how we see the trajectory for the rest of the year, which is on budget.

Please feel free to reach me directly via Alex(at)Niets.co, and I would be happy to continue the conversation or arrange a meeting to dive deeper into any other questions you might have.

Thank you again for your trust and progressive commitment!

Best regards,
Alexandre Hauben
Founder, NietsCo