Question-and-Answer Session
Operator
Ladies and gentlemen, if you'd like to ask a question please press star and then one on your touchstone phone. You'll hear a tone indicating you've been placed in queue, you may remove yourself from queue at anytime by pressing the pound key. If you're using a speaker phone, please pick up the handset before pressing the number. Once again if you have a question, please press star one at this time.
Our first question comes from the line of Pete Enderlein, please go ahead sir.
Pete Enderlein
Good morning, thank you. On the beta side in Japan, could you just elaborate a little on how that is going to work, you know the timing, what they've committed to, how you picked them, and I guess also whether there are some others that are waiting in the wings to come along fairly quickly here?
Bill Stuart
Yes, we're working with beta, as you know its always a balance between keeping it well managed and achieving the results you want, so we've been working for quite some time with Net one and they are setting up a lab, an integrated PBT network in their demonstrative facility in Tokyo. That seems like a natural place to start with, but we do have others that we're working with and getting very close to. The Net one, as I mentioned, their system integration lab, where they're showcasing multi vendor PBT network and they've had quite a lot of interest from their customer base in that capability, so that's why we selected that one first.
Pete Enderlein
On the accounts receivable, Bill, obviously the money good, but what’s the timing of the conversion of those to cash?
Bill Stuart
Almost all of those receivables were converted to cash by the end of January.
Pete Enderlein
Okay.
Bill Stuart
All that's outstanding now is about 1100 to put it in perspective.
Pete Enderlein
I figured they were good for it. The comment was that you expect deploying of the PNC in the second half of the year.
Bill Stuart
Yes
Pete Enderlein
Would that likely be in Japan or the United States?
Bill Stuart
Don't know at this point. It could be in Japan, in the United States in Europe, we've had a lot of interest in this from almost all geographies. Hopefully it will be in all three in the second half of the year.
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