Why is that sales cycle so long? I am familiar with businesses that have long sales cycles, but I have never heard of one quite that long. It seems extreme.

It is very simple; the nature of the industry is copy exact. I recall several meetings with our epitaxy customer where they insisted we not change a single bolt on our unit. If we changed the threads on one screw, they needed to know and go through an approval process with their end users because they are so adamant about maintaining consistency. We had a situation where we wanted to bend a fixture 90 degrees on our power supply unit due to interference, but they said no. The OEM would never accept that change, even though it had nothing to do with the functionality. The approval process for equipment, cycles, and processes takes a long time because of the potential costs involved. For example, if half of the microchip in an iPhone was found to be faulty, it could cost billions of dollars, along with lost customers. They are by far the most difficult customers I have ever worked with, even compared to oil and gas and aerospace, in terms of making changes. It was incredible, and I have never experienced anything like it.

Just to follow up on one point before we move to Videology, my interpretation is that it's obviously very hard to get a new customer. But similar to aerospace, and probably even more so, once a customer has specified your product, if they don't want you changing one bolt, they are not going to change the whole product to a competitor, at least not in the short term. Is that accurate once you win business in that space?

Correct. But just like aerospace, they are not naive. They have two options running at the same time. In the case of the epitaxy customer, we had a competitor, and unfortunately, it was a domestic competitor. That gets even more challenging with everything currently going on in the country. You might think, "This is great. Once we are locked in, we can just raise prices, even quadruple them," but they can't because there is a qualified competitor. Most airframes have two engines, which is not by accident. They do that on purpose because they don't want to be monopolized. It is a very tight game.