diff --git a/Makefile b/Makefile
index 95539a4..6dcb5c2 100644
--- a/Makefile
+++ b/Makefile
@@ -34,14 +34,11 @@ PTLUA_LDLIBS  = -llua -lm
 # Compilation targets
 # ===================
 
-.PHONY: library examples tests all install uninstall clean
+.PHONY: library tests all install uninstall clean
 
 library: \
 	pt-lua
 
-examples: library \
-	examples/fibonacci/fibonacci.so
-
 tests: library \
         spec/tracebacks/anon_lua/module.so \
         spec/tracebacks/depth_recursion/module.so \
@@ -51,7 +48,7 @@ tests: library \
         spec/tracebacks/multimod/module_b.so \
         spec/tracebacks/singular/module.so
 
-all: library examples tests
+all: library tests
 
 install: library
 	$(INSTALL_EXEC) pt-lua $(BINDIR)
@@ -62,7 +59,7 @@ uninstall:
 	rm -rf $(BINDIR)/pt-run
 
 clean:
-	rm -rf pt-lua examples/*/*.so spec/tracebacks/*/*.so
+	rm -rf pt-run spec/tracebacks/*/*.so
 
 %.so: %.c
 	$(CC) $(CFLAGS) $(CPPFLAGS) $(LDFLAGS) $(LIBFLAG) $< -o $@
@@ -70,7 +67,6 @@ clean:
 pt-lua: pt-lua.c ptracer.h
 	$(CC) $(CFLAGS) $(CPPFLAGS) $(LDFLAGS) $(PTLUA_LDFLAGS) $< -o $@ $(PTLUA_LDLIBS)
 
-examples/fibonacci/fibonacci.so:           examples/fibonacci/fibonacci.c           ptracer.h
 spec/tracebacks/anon_lua/module.so:        spec/tracebacks/anon_lua/module.c        ptracer.h
 spec/tracebacks/depth_recursion/module.so: spec/tracebacks/depth_recursion/module.c ptracer.h
 spec/tracebacks/dispatch/module.so:        spec/tracebacks/dispatch/module.c        ptracer.h
diff --git a/examples/connected-components/Makefile b/examples/connected-components/Makefile
new file mode 100644
index 0000000..49a7c29
--- /dev/null
+++ b/examples/connected-components/Makefile
@@ -0,0 +1,27 @@
+# Copyright (c) 2024, The Pallene Developers
+# Pallene Tracer is licensed under the MIT license.
+# Please refer to the LICENSE and AUTHORS files for details
+# SPDX-License-Identifier: MIT
+
+OUTPUT_FILE = component.so
+
+CC         = cc
+CFLAGS     = -O2 -std=c99 -pedantic -Wall -Wextra -Wformat-security
+LIBFLAGS   = -fPIC -shared
+
+ifneq ($(findstring debug, $(MAKECMDGOALS)), )
+	CFLAGS += -DPT_DEBUG
+endif
+
+.PHONY: all debug clean
+
+all: $(OUTPUT_FILE)
+debug: $(OUTPUT_FILE)
+
+clean:
+	rm -rf $(OUTPUT_FILE)
+
+%.so: %.c
+	$(CC) $(CFLAGS) $(LDFLAGS) $(LIBFLAGS) $< -o $@
+
+%.c: ptracer.h
diff --git a/examples/connected-components/component.c b/examples/connected-components/component.c
new file mode 100644
index 0000000..ca0e25f
--- /dev/null
+++ b/examples/connected-components/component.c
@@ -0,0 +1,113 @@
+/*
+ * Copyright (c) 2024, The Pallene Developers
+ * Pallene Tracer is licensed under the MIT license.
+ * Please refer to the LICENSE and AUTHORS files for details
+ * SPDX-License-Identifier: MIT
+ */
+
+#include <stdlib.h>
+
+#define PT_IMPLEMENTATION
+#include "ptracer.h"
+
+/* ---------------- PALLENE TRACER LUA INERFACE ---------------- */
+#define CON_LUA_FRAMEENTER(fnptr)                       \
+    PALLENE_TRACER_LUA_FRAMEENTER(L, fnstack, fnptr,    \
+        lua_upvalueindex(1), _frame)
+/* ---------------- PALLENE TRACER LUA INERFACE END ---------------- */
+
+/* ---------------- PALLENE TRACER C INTERFACE ---------------- */
+
+#define CON_C_FRAMEENTER()                              \
+    PALLENE_TRACER_GENERIC_C_FRAMEENTER(fnstack, _frame)
+
+#define CON_C_SETLINE()                                 \
+    PALLENE_TRACER_GENERIC_C_SETLINE(fnstack)
+
+#define CON_C_FRAMEEXIT()                               \
+    PALLENE_TRACER_FRAMEEXIT(fnstack)
+
+/* ---------------- PALLENE TRACER C INTERFACE END ---------------- */
+
+/* This is one way to work with Pallene Tracer call-stack, but certainly not recommended because
+   this way you loose the flexibility of using multiple Lua states. */
+pt_fnstack_t *fnstack;
+
+static void internal_dfs(lua_State *L, int *visited, int node) {
+    CON_C_FRAMEENTER();
+
+    if(visited[node]) {
+        CON_C_FRAMEEXIT();
+        return;
+    }
+
+    visited[node] = 1;
+
+    lua_rawgeti(L, 1, node);  /* get the connected adjacent nodes of current node */
+    CON_C_SETLINE();
+    int n = luaL_len(L, -1);  /* this line may trigger error */
+    lua_pop(L, 1);
+
+    /* for all the adjacent nodes */
+    for(int i = 1; i <= n; i++) {
+        lua_rawgeti(L, 1, node);
+        lua_rawgeti(L, -1, i);
+        int adjacent_node = lua_tointeger(L, -1);
+        lua_pop(L, 2); /* avoid Lua value-stack overflow by not keeping values on the stack. */
+
+        CON_C_SETLINE();
+        internal_dfs(L, visited, adjacent_node);
+    }
+
+    CON_C_FRAMEEXIT();
+}
+
+static int find_connected_components(lua_State *L, int *visited, int n) {
+    CON_C_FRAMEENTER();
+
+    int result = 0;
+
+    for(int i = 1; i <= n; i++) {
+        if(!visited[i]) {
+            result++;
+            CON_C_SETLINE();
+            internal_dfs(L, visited, i);
+        }
+    }
+
+    CON_C_FRAMEEXIT();
+    return result;
+}
+
+static int find_connected_components_lua(lua_State *L) {
+    CON_LUA_FRAMEENTER(find_connected_components_lua);
+
+    if(!lua_istable(L, 1))
+        luaL_error(L, "expected the first argument to be table");
+    if(!lua_isinteger(L, 2))
+        luaL_error(L, "expected the second argument to be integer");
+
+    int nodes = lua_tointeger(L, 2);  /* get total number of nodes */
+    int *visited = calloc(nodes + 1, sizeof(int));  /* Lua prefers 1 based indexing */
+
+    /* Dispatch and push the result. */
+    lua_pushinteger(L, find_connected_components(L, visited, nodes));
+
+    free(visited);
+    return 1;
+}
+
+int luaopen_component(lua_State *L) {
+    fnstack = pallene_tracer_init(L);
+
+    lua_newtable(L);
+    int table = lua_gettop(L);
+
+    /* ---- find_connected_components ---- */
+    /* `pallene_tracer_init` function pushes the frameexit finalizer to the stack. */
+    lua_pushvalue(L, -2);  /* passing the finalizer object as upvalue is generally the way to go. */
+    lua_pushcclosure(L, find_connected_components_lua, 1);
+    lua_setfield(L, table, "find_connected_components");
+
+    return 1;
+}
diff --git a/examples/connected-components/main.lua b/examples/connected-components/main.lua
new file mode 100644
index 0000000..c00fc52
--- /dev/null
+++ b/examples/connected-components/main.lua
@@ -0,0 +1,20 @@
+local component = require "component"
+
+local nodes = 12
+local graph = {
+    { 2 }, -- 1st node
+    { 1, 5 }, -- 2nd node
+    { 5 }, -- 3rd node
+    { 5 },
+    { 2, 3, 4 },
+    { 7, 8 },
+    { 6 },
+    { 6 },
+    { 10, 12 },
+    { 9, 11, 12 },
+    { 10, 12 },
+    { 9, 10, 11 } -- 12th node
+};
+
+local total_connected_components = component.find_connected_components(graph, nodes);
+print(total_connected_components)  -- expect: 3
diff --git a/examples/fibonacci/Makefile b/examples/fibonacci/Makefile
new file mode 100644
index 0000000..bca8087
--- /dev/null
+++ b/examples/fibonacci/Makefile
@@ -0,0 +1,27 @@
+# Copyright (c) 2024, The Pallene Developers
+# Pallene Tracer is licensed under the MIT license.
+# Please refer to the LICENSE and AUTHORS files for details
+# SPDX-License-Identifier: MIT
+
+OUTPUT_FILE = fibonacci.so
+
+CC         = cc
+CFLAGS     = -O2 -std=c99 -pedantic -Wall -Wextra -Wformat-security
+LIBFLAGS   = -fPIC -shared
+
+ifneq ($(findstring debug, $(MAKECMDGOALS)), )
+	CFLAGS += -DPT_DEBUG
+endif
+
+.PHONY: all debug clean
+
+all: $(OUTPUT_FILE)
+debug: $(OUTPUT_FILE)
+
+clean:
+	rm -rf $(OUTPUT_FILE)
+
+%.so: %.c
+	$(CC) $(CFLAGS) $(LDFLAGS) $(LIBFLAGS) $< -o $@
+
+%.c: ptracer.h
diff --git a/examples/fibonacci/main.lua b/examples/fibonacci/main.lua
index 95dca0d..f9a02bc 100644
--- a/examples/fibonacci/main.lua
+++ b/examples/fibonacci/main.lua
@@ -3,7 +3,7 @@
 -- Please refer to the LICENSE and AUTHORS files for details
 -- SPDX-License-Identifier: MIT
 
+local N = tonumber(arg[1]) or 40
+
 local fibonacci = require "fibonacci"
-print(fibonacci.fib(40))
--- Uncomment this and trigger an error. You can debug using the 'pallene-debug' script.
--- print(fibonacci.fib(40.0))
+print(fibonacci.fib(N))
diff --git a/spec/examples_spec.lua b/spec/examples_spec.lua
new file mode 100644
index 0000000..13efc8f
--- /dev/null
+++ b/spec/examples_spec.lua
@@ -0,0 +1,32 @@
+-- Copyright (c) 2024, The Pallene Developers
+-- Pallene Tracer is licensed under the MIT license.
+-- Please refer to the LICENSE and AUTHORS files for details
+-- SPDX-License-Identifier: MIT
+
+local util = require "spec.util"
+
+local function assert_example(example, expected_content)
+    local cdir  = util.shell_quote("examples/"..example)
+    local ok, err, output_content, _ =
+        util.outputs_of_execute(string.format("cd %s && make --quiet && ../../pt-lua main.lua", cdir))
+    assert(ok, err)
+    assert.are.same(expected_content, output_content)
+
+    -- With Pallene Tracer tracebacks enabled
+    local ok, err, output_content, _ =
+        util.outputs_of_execute(string.format([[
+            cd %s
+            make clean --quiet
+            make debug --quiet
+            ../../pt-lua main.lua ]], cdir))
+    assert(ok, err)
+    assert.are.same(expected_content, output_content)
+end
+
+it("Fibonacci", function()
+    assert_example("fibonacci", "102334155\n")
+end)
+
+it("Find Connected Components", function()
+    assert_example("connected-components", "3\n")
+end)
diff --git a/spec/tracebacks_spec.lua b/spec/tracebacks_spec.lua
index e381c8a..a988b9e 100644
--- a/spec/tracebacks_spec.lua
+++ b/spec/tracebacks_spec.lua
@@ -5,10 +5,8 @@
 
 local util = require "spec.util"
 
-local function assert_test(example, expected_content)
-    assert(util.execute("make --quiet tests"))
-
-    local dir  = util.shell_quote("spec/tracebacks/"..example)
+local function assert_test(test, expected_content)
+    local dir  = util.shell_quote("spec/tracebacks/"..test)
     local ok, _, output_content, err_content =
         util.outputs_of_execute("./pt-lua "..dir.."/main.lua")
     assert(not ok, output_content)