Dear Shareholders and ProArc’s friends

First, I hope you and your families are all safe and healthy. We are all facing the need to do ourthe best we can, to go troughthrough this period in the best possible way and come back stronger once the COVID storm is seen on our rear view mirrorbehind us.

To try and find a glimpse of positiveness in that blizzard situation I told my kids they are experiencing an historical event the like of which has never been seen before. and thereTheir reaction, telling was to tell me they willthat they would hardly remember it and it willwould be my job to tell this story to their kids,. This immediately gave me hope that this situation will go away at the speedleave us as fast as it came inarrived.

I would like to use this occasion to let you all know that we, at ProArc, are making significant budgetary adjustments to overcome this challenging period while continuing to move forward with the preparation towardtowards reinstating the ClearRing in clinical usage.

As such, being both responsible and attentive, we decided to put on hold the investment round recently communicated with you all tilluntil we get ahave better clarity and visibility going forward.
I will be more than happy to stay in touch and discuss the matter further discuss with you.

Stay safe,
David