Q1 2022 BioLargo Inc Earnings Call

Speaker 1: Good afternoon, ladies and gentlemen, and welcome to the BioLargo first quarter 2022.

Good afternoon, ladies and gentlemen, and welcome to the buyer and I'll go first quarter 'twenty to 'twenty two earnings result.

Speaker 1: At this time, all participants have been placed on a listen-only mode, and the floor will be open for questions and comments after the presentation.

At this time, all participants have been placed on listen only mode.

And all will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your house.

Speaker 1: It is now my pleasure to turn the floor over to your host Brian Loper. Celebrate, celebrate and perhaps finish each 84 GitHub requests.

Sir the floor is yours.

Thank you operator.

Speaker 2: Thank you, Operator. Good afternoon, everyone, and welcome to BioLargo's Q1 2022 results conference call. By now, everyone should have had access to the earnings press release, which was issued on Tuesday prior to market open, and the 10-Q report filed with the SEC. This call is being webcast.

Good afternoon, everyone and welcome to biomarker those Q1 2022 results conference call.

By now everyone should have had access to the earnings press release, which was issued on Tuesday prior to market open and the 10-Q report filed with the SEC. This.

This call is being webcast and is available for replay.

Speaker 2: In our remarks today, we may include statements that are considered forward-looking within the meanings of securities laws, including forward-looking statements about future results of operations, business strategies and plans, our relationships with our customers, market and potential growth opportunities.

In our remarks today. We may include statements that are considered forward looking within the meanings of securities laws, including forward looking statements about future results of operations business strategies and plans, our relationships with our customers market and potential growth opportunities.

Speaker 2: In addition, management may make additional forward-looking statements in response to your question.

In addition management may make additional forward looking statements in response to your questions.

Speaker 2: Forward-looking statements are based on management's current knowledge and expectations as of today and are subject to certain risks and uncertainties and may cause the actual results to differ materially from the forward-looking statements. A detailed discussion of such risks and uncertainties are contained in our most recent Form 10-K , Form 10-Q , and other reports filed at the SEC. The company undertakes no obligation to update any forward-looking statements. And with that, I now hand the call over to BioLogger's Chief Executive Officer, Dennis

Forward looking statements are based on management's current knowledge and expectations as of today and are subject to certain risks and uncertainties and may cause the actual results to differ materially from the forward looking statements.

Tailed discussion of such risks and uncertainties are contained in our most recent Form 10-K Form 10-Q, and other reports filed with the SEC.

Company undertakes no obligation to update any forward looking statements and with that I now hand, the call over to Biologics Chief Executive Officer, Dennis Calvert.

Speaker 3: Hey, thank you, Brian . This is Dennis Calvert. I appreciate everyone joining us today. We've got a lot to cover. And again, we appreciate you following the company.

Hey, Thank you Brian This is Dennis Calvert I appreciate everyone. Joining us today, we've got a lot to cover and again. We appreciate you following the company.

The quarter was an exceptional quarter.

Speaker 3: As always, we have a big vision for BioLargo. In many ways, we feel like we've just scratched the surface, and yet at the same time we're breaking records on a pretty consistent basis, so we're pretty excited about that. They also will give the listener and the reader some understanding of the trending that's going on, which is pretty dramatic, as we continue to march ahead towards increased revenue and ultimately profit.

As always we have a big vision for <unk> in many ways, we feel like we've just scratched the surface and yet at the same time, we are breaking records on a pretty consistent basis. So were pretty excited about that we also will.

Well give the listener and reader.

Understanding of the trending that's going on which is pretty dramatic as we continue to March had towards increased revenues and ultimately profit, which we think we are now demonstrating a viable pathway for us we want to talk about that a little bit.

Speaker 3: which we think we are now demonstrating a viable pathway for. So we want to talk about that a little bit.

Speaker 3: Recall that BioLargo's mission statement is we make life better, right? Sustainable solutions for some of the biggest problems that face our planet. Clean air, cleaner water, cleaner earth. We have the environmental group, which embodies three of our operational

Recall, the Biologicals mission statements, we make life better write sustainable solutions for some of the biggest problems that face our planet.

It clean air cleaner water clean Earth, we have the environmental group, which embodies three of our operational.

Speaker 3: City areas, commercial, we have BioLargo Engineering, Science and Technologies, BioLargo Water, primarily focused on R&D, and O&M Environmental, and of course we have Clear Medical that is in the development stage, first revenues, post FDA clearance, and really positioned quite well for ramp up and spin out, which is very exciting. We're gonna focus mostly today on the environmental group, the core competency of the company, and where we're

Sidney Aries commercial we have biological engineering science and technologies biologic water, primarily focus on R&D and O&M environmental and of course, we are clear in medical that is in the development stage first revenues post FDA clearance and really positioned quite well for ramp up and spin out.

Which is very exciting we're going to focus mostly today on the environmental group the core competency of the company and where we are.

Speaker 3: have extreme excitement about the things that are happening and coming in our near future.

Have extreme excitement about the things that are happening.

And coming down our near future.

Speaker 3: The financial highlights are certainly worth highlighting, right? We broke all revenue records company-wide, pushing just under a million dollars. The trend is

The financial highlights are certainly worth highlighting right.

We broke all revenue records companywide, pushing just under $1 billion.

The trend is significant.

Speaker 3: Of course, we still feel like the opportunity has just been scratched the surface, as we mentioned before. And we have business that's in the pipeline of great significance. We want to talk quite a bit about that. And we believe that this is a time which the balance sheet has had such a great cleanup period. We reduced our debt to a really negligible, almost immaterial level.

Of course, we still feel like the opportunity has just been scratched the surface as we mentioned before and we have business that's in.

And the pipeline of great significance talk quite a bit about that.

And we believe that this is a time, which the balance sheet has had such a such a great cleanup period.

Reduced our debt to a really negligible almost a material level.

Speaker 3: We've got one operating subsidiary, O&M Environmental, that turned its first profit.

We've got one operating subsidiary O&M environmental that turned its first profit.

Speaker 3: The engineering group is just shy of profitability. Literally one or two orders would have taken the profitability, and so it's a very exciting time. So then that focuses on our R&D group, which is working on a commercial strategy to get its AOS commercial, and then Clara, as we've mentioned.

Engineering group is just shy of profitability literally one or two orders would have taken them to profitability.

And so it's a very exciting time. So then that focuses on our R&D group.

Which is working on a commercial strategy you can get at AOS commercial and then clearer as we'd mentioned that has its first sales really preparing to ramp up our commercial effort with proper funding.

Speaker 4: that has its first sales, really preparing to ramp up a commercial effort with proper funding. Okay.

Okay.

When we analyze the financial highlights.

As we mentioned before.

Speaker 3: Company-wide revenues came in just under a million dollars. That's a 69% increase.

Companywide revenues came in just under $1 million up to 69% increase.

Speaker 3: over the same quarter in 2021, 69% increase.

Over the same quarter in 2021, 69% increase.

Speaker 3: Owner environmental's revenue was $598,000, represent 87% increase over the same period prior year, with a very small, but significant in its meaning, operating income at $13,000.

O&M environmental revenue was 598000 represent 87% increase over the same period prior year.

Very small.

<unk> and its meaning.

Bringing in kind at 13000, it's important to know that that's fully accrued so that's an accrued profit for the subsidiary.

Speaker 3: It's important to know that that's fully accrued, so that's an accrued profit for the subsidiary, which means the corporate office is still incurring its expenses for public company reporting, legal accounting, all the things that it takes to operate that public entity.

It means the corporate office is still occurring it's comp it's the expenses for public company reporting legal accounting all the things that it takes to operate that public entity engineer.

Speaker 3: Engineering came in for third-party revenue. Remember, this is third-party.

Engineering Kingdom for third party revenue remember this is third party.

Speaker 3: It's also important to note that they're heavily involved in R&D as well.

Also important to note that they're heavily involved in R&D as well. So this revenue was a record revenue of 177% increase with a very small loss and again as I pointed out a significant.

Speaker 4: So this revenue is a record revenue, 177% increase with a very small loss. And again, as I pointed out, a significant amount of their time is also committed to R&D with a heavy emphasis on our AEC PFAS solution, okay?

Amount of their time is also committed to R&D.

Heavy emphasis on our AUC.

T fast solution.

Okay.

Take a minute to talk about those.

No.

Speaker 3: We have a number of catalysts that are under contract and underway, under contract and underway. It's very critical that we properly categorize and talk about these briefly.

We have a number of catalysts that are under contract and underway under contract and otherwise very critical.

Properly categorize and talk about these briefly.

Speaker 3: Many consider the AEC, that's our PFAS solution for Forever Chemicals, as the most significant, the largest high-impact solution for the world, for the United States, North America, for biological and biological-herbal cycle.

Many consider the AUC that's R. P fast solution for forever chemicals as the most significant the largest high impact solutions for the world for the United States, North America, but for biologic umbrella shareholders stockholders.

Speaker 3: That PFAS treatment situation is dramatic for us. We've spent about two years in development. We are preparing to go commercial We just completed six month continuing testing To monitor the performance of the unit under a continuous operating environment for six months With no significance in its technical degradation

That T fast treatment situation is dramatic for US we spent about two years in development. We are preparing to go commercial.

We just completed six months continuing testing to monitor.

The performance of the units under our continuous operating environment for six months with no significance in its technical degradation.

Speaker 3: What that means is that we have high level confidence this period of time, plus

What that means is that we have high level of confidence. This period of time plus will survive a market test in actual field use meaning that it becomes scalable functional long lasting in the practical.

Speaker 3: will survive a market test and actual field use, meaning that it becomes scalable, functional, long-lasting, and a practical maintenance cycle to make it functional in the marketplace. From a performance perspective, we've had significant results. We're going to talk about those in a second.

Maintenance cycle to make a function of the marketplace for it.

Performance perspective, we've had significant results and we'll talk about those in the second.

Speaker 3: What's interesting to note is you can take a deep dive into the quarterly report.

What's interesting to note because you've taken a deep dive into the quarterly report.

Speaker 3: We talk about the marketing efforts, the business development efforts, they're really quite significant.

We talk about the marketing efforts the business development efforts to really they're really quite significant.

Speaker 3: As you know, we have recruited a number of professionals that have worked in the field of remediation and water treatment for 20 and 30 years. We have exceptional talent and we have been building a distribution channel that we would call organic through reps and through our personal connections. At the same time, we are negotiating three channel

As you know that we've recruited a number.

Professionals that have worked in the field of remediation and water treatment for 20 and 30 years.

So with exceptional talent and we've been building a distribution channel that we would call organic through reps and through our personal connections and at the same time.

We're negotiating three channel partner agreements.

Speaker 3: to extend our reach into the world through relationships that have existing clients that need a PFAS solution.

To extend our reach into the world.

Through relationships that have existing clients.

That need a P. Fast solution. This is really critical is a critical thing.

Speaker 3: It fits quite well with our business model, which is to invent, prove it up.

Fits quite well with our business model, which is to invent prove it up.

Speaker 3: get it through its development cycle, make sure it's commercially viable, get through at least initial early commercialization, and then leverage through what we call a channel partner. Channel partnerships can take on all different types of relationships, whether it's a distribution, joint venture, reselling opportunity, a referral network, or actually where there's projects where there's existing relationships with customers in which we tackle these challenges, potentially even as a subcontractor.

Get it to its development cycle make sure it's commercially viable get through admissions at least initial early commercialization and then leverage through what we call channel partner channel partnerships can take them all different types of relationships. So whether its a distribution joint venture reselling opportunity, a referral network or actually where theres projects.

Where there's existing relationships with customers in which we tackled these challenges potentially even as a subcontractor.

Speaker 3: Very dynamic business. In our queue, we referenced that we've accumulated a pipeline. I don't want to use the words very carefully. A pipeline of prospective projects. That means projects where we're talking about the detail of execution, where we're doing water samples, we're talking about costing, timeframes, specing in. That pipeline, which means prospective customers, not yet engaged, is a little over.

Very dynamic business and our Q, we referenced that we've accumulated a pipeline when we use the words very carefully.

Pipeline of prospective projects that means projects, where we're talking about the details of execution. We're regaining water samples were talking about costing timed.

Timeframes spec ing in that pipeline, which means prospective customers not yet engaged.

He is a little over $90 million nine zero $90 million, it's a big deal.

Speaker 3: 9, 0, 90 million. Big deal.

Speaker 3: So what does it take? Well, in order to swallow that kind of business, there's a phasing in process, right? First things first.

So what does it take well.

In order to swallow that kind of business. There's a there's a phasing in process right first things first with your first customer under contract.

Speaker 3: the first customer under contract, show that this is commercially viable, extend your reach through commercial partnerships, and then watch the business grow to meet the demand that we believe is coming. Now remember, we've referenced this marketplace over and over, many, many times. Many people consider it to be an $80 billion a year market. 80 billion a year. So how does a small company like BioLargo, rich in intellectual property, great talent, swallow?

Shouldnt the commercially viable.

Extend your reach through commercial partnerships and then watch the business grow to meet the demand that we believe is coming.

Now remember we've referenced this marketplace over and over many many times many people consider it to be an $80 billion a year market $80 billion a year. So how does a small company like biological Richard intellectual property great talent.

Swallow.

You do it right when you do with the channel partners.

Speaker 3: What we've done is we've developed a system called the AEC. It's a remarkable technology that allows us to selectively extract and concentrate PFAS in this highly efficient way. It has a fraction of the environmental impact of the competition, one one-thousandth the waste stream.

So what we've done is we've developed a system called the AUC. It's remarkable technology that allows us to selectively extract and concentrate P force in this highly efficient way. It has a fraction of the environmental impact of the competition. One 1000, the waste stream one 1000th waste stream.

Speaker 3: Very important. We leverage it through relationships with channel partners who have clients that are looking for solutions and want to make decisions now.

Very importantly.

We leverage it through relationships with channel partners to have clients that are looking for solutions and want to make decisions now.

Do you want to make decisions now because under regulatory pressure a lot of regulatory pressure by the way.

Speaker 3: They want to make decisions now because they're under regulatory pressure, a lot of regulatory pressure, by the way. We have our team, primarily Tanya Chandler.

We have our team primarily Tania Chandler.

Speaker 3: 22 years in the water business has really become sought after as a speaking expert, someone who understands the regulatory pathway, understands the competitive analysis.

I was wondering if you're using the water business has really become sought after as a speaking experts someone who understands regulatory pathway understands the competitive analysis and we're being asked on the continuum really continual basis to look at explore opportunities as a presenter speaker and subject matter expert.

Speaker 3: and we're being asked on a really continual basis to look at, explore opportunities as a presenter, speaker, and subject matter expert. It's particularly valuable to us, and we're investing a lot of time, energy, and money making sure that we're on the cutting edge of that knowledge. And the momentum with the federal government for regulatory stance on PFAS is expanding, not contracting.

It's particularly valuable to us and we're investing a lot of time energy and money, making sure that we're on the cutting edge of that knowledge and and the momentum with the federal government for regular regulatory stance on P. Farce is expanding not contracting.

Speaker 3: It's the simple version. There's a White House agenda item, it's an EPA item, it's being considered as potentially a hazardous material, designation as potentially a Superfund site for remediation, which has a host of legal and practical implications for the long-term. This is a situation that's going to be around.

It's the simple version, there's a white house agenda item, it's an EPA item.

Is being considered as potentially a hazardous material.

Designation as potentially a superfund site remediation, which has a host of legal and practical implications for the long term. This is the situation.

That's going to be around for decades.

Speaker 3: We find ourselves in a very unique position to believe that our solution, we believe, and we believe the evidence shows.

We find ourselves in a very unique position to believe to believe that our solution. We believe and we believe the evidence shows that we present, the economic and practical solution for highly concentrated.

Speaker 3: that we present the economic and practical solution for highly concentrated and effort to highly concentrate, selectively extract PFAS from water.

In effort to highly concentrate selectively extract.

T force from water hand from the environment.

Speaker 4: It's a very, very exciting opportunity, and we believe we're on the cusp of going commercial. So what we're hoping to do, we believe we can soon, is present some of these channel partnership agreements and the first execution in the commercial sense of working on specific projects.

It's a very very exciting opportunity and we believe we're on the cusp of Glen commercial so what we're hoping to do we believe we can soon this present some of these channel partnership agreements and the first execution of the commercial sense of working on specific projects.

The ACP forces very excited.

Speaker 3: Number two, POOF. This is a white label relationship with a extremely talented marketing group, 20 years experience launching global brands and billions of dollars of revenue. From a marketing perspective, they concentrated a team, put together a venture, selected our chemistry and our technical solution as a backbone on which to build a national and potentially international brand.

Number two poof. This is a white label relationship with a extremely talented marketing group.

20 Years' experience launching global brands in billions of dollars of revenue from.

From a marketing perspective, the concentrated the team put together venture selected our chemistry, and our technical solution as a backbone on which to build a national and potentially international brands.

Speaker 3: Sales are exceeding expectations. We're intimately involved in the supply chain. We receive a royalty on sales, and we've bargained for participation if and when they sell the brand to potentially a major consumer products company that will participate in the exit equal to 20%. This is a big deal. This is growing dynamic.

Sales are exceeding expectations.

We're intimately involved in the supply chain, we receive a royalty on sales and we bargain for participation.

And when they sell the brand to potentially a major consumer products company that will participate in the exit equal to 20%. This is a big deal. This is growing dynamically.

Speaker 3: Most recently, the commercials and advertising has appeared on the Jumbotron at Times Square. It's getting great penetration. Their ad spend is scheduled to go up 4 to 5x over the next 40 to 60 days.

Recently, the the commercials and advertising disappeared.

On the Jumbo Tron at times square.

It's getting great penetration in their AD spend is scheduled to go up four to five X over the next 40 to 60 days.

Speaker 3: Orders are flowing, we are producing, and we very much are thankful for this relationship with these professionals in this field, and we're going to grow together. It's a very exciting business, and we think we've, again, just scratched the surface. They have lined up retail channels for distribution, and in the process of organizing the first rollouts with major retail, they will be targeting some of the largest and most well-known retail distribution channels known to the market.

Orders are flowing we are producing.

And we very much are thankful for this relationship with these professor.

Professionals in this field and we're going to grow together, it's a very exciting business and we think again just scratched the surface.

They have lined up retail channels for distribution and in the process of organizing the first rollouts with major retail they will be targeting some of the largest and most well known retail distribution channels down to the market.

Speaker 3: It's a very, very good situation for both icky guy and bilateral.

Very very good situation for both Nicky Guy in Butler.

Your gallium Callahan relationship is about to go commercial.

Speaker 3: We had put out previous information contemplating a trial process that would validate and then secure clients.

We had we put out previous information contemplating a trial process that with validate and then secure clients.

Speaker 3: And in simple terms, what's happened is we have so much evidence to support the claim.

And in simple terms, what's happened is we have so much evidence to support the claim.

Speaker 3: a successful claim of excellent performance.

A successful claim this excellent performance.

Speaker 3: or to intended use on a minimum liquid discharge system. That means processing water for reuse with minimal discharge of a waste stream.

The intended use.

Minimum liquid discharge system that means processing water for reuse with minimal discharge of a waste stream for industrial settings, working with Euro and Kelly <unk> Zone 100, plus year old company. The largest privately held water company in North America National Salesforce National footprint 100 years of history tens if not.

Speaker 3: for industrial settings working with Garrard Callahan. Garrard Callahan is a 100-plus year old company, the largest privately held water company in North America, national sales force, national footprint, 100 years of history, tens if not 20,000 customers, right? Understand the magnitude we're talking about here. We've identified our first customer.

21000 customers right understand the magnitude we're talking about here, we've identified our first customer target.

Speaker 3: And we're now working with that client and the sales organization to really ask ourselves, how do we move from

And we're now working with that client and that and the sales organization to really ask ourselves how do we move from.

Speaker 3: this stage of readiness into execution on a commercial scale. We're doing that now.

This the stage of readiness and execution on the commercial scale, we're doing that now.

Speaker 3: So, it's happening. We've identified our first customer. The first project will probably be around a million dollars, which is great. And we know it works. And so, now we're working to go through the logistics of that bidding and scoping process to try and head into commercial sales. Now, behind this, Garrett Callahan has given us a comfortable projection of 50 to 100 units ranging from 250 to maybe $500,000.

So it's happening and we've identified our first customer the first project will probably be around $1 million, which is great and we know it works and so now we're working to go through the logistics of that bidding in scoping process to try and head into commercial sales now behind us Euro Callahan has given us a comfortable projection.

<unk> to a 100 units ranging from 250 to maybe $500000.

Speaker 3: translate that, that's probably a forecast in the seven to maybe 15 million over the next 12 or so months post-launch. It's a significant piece of business.

If you translate that that's probably a forecast in the seven to maybe $15 million over the next 12 or so months post launch it's a significant piece of business. It is perfectly situated for our wheelhouse of expertise.

Speaker 3: It is perfectly situated for our wheelhouse of expertise.

Speaker 3: We have successfully designed and implemented our first commercial scale unit that can easily go into the field, and we're now positioned to begin commercializing and taking them in the first order. We hope to have new information on this very soon. The process is intense, it's good, no complaints, and as I would say, it's all moving forward very nicely. And of course, we always want it faster, but we also want it to be of the most excellent status. Thank you.

We have successfully designed and implemented our first.

Commercial scale unit that could easily go into the field and.

And we're now positioned to begin commercializing and taken in the first order we hope to have new information on this very soon.

The processes intense it's good no complaints.

And as I would say, it's all moving forward very nicely and of course, we always want it faster, but we also want it to be of the most excellent status.

That's the thing I want to mention.

Which I think is important.

Speaker 3: We had put, this is public information of course, we did an announcement, put it in the queue. It's also hard for people to get their heads around it. The thing I really want to point out is that we were given a contract for our first phase of a very comprehensive evaluation of a project that if successful in executing the multi-phases will total somewhere in excess of $5,000.

We had put this is public information of course, we did the announcement for Q.

It's also hard for people to get their heads around it.

The thing I really want to point out is that we were given the contract for our first phase of a very comprehensive evaluation of the project.

That if successful in executing the multi phases will.

Will total somewhere in excess of $500 million. So this is a landfill.

Speaker 3: So this is a landfill waste to energy conversion. That means that we're designing a system that will be a very large scale that will convert that waste stream into power that will supply a grid in South America at a major metropolitan city.

Landfill waste to energy conversion that means that we'll we're designing a system that will be a very large scale.

They will convert that waste stream into a power.

We'll supply agreed in South America, the major Metropolitan City.

Speaker 3: Our partner, or our customer, however you want to frame it, is essentially the developer.

Our partner are our customer however, you want to frame it.

Is essentially the developer.

So what's happened is the developer is.

Speaker 3: is access to significant capital. They have relationships to develop these opportunities, these business opportunities. And really, what do we bring? Well, we bring talent. We bring talent and knowledge. And so this is a significant validation of that.

Access to significant capital they have relationships to develop these opportunities business opportunities.

And really what you know what do we bring well we bring talent.

Talent and knowledge.

And so this is a significant validation of that talent.

It will.

Speaker 3: over the design phase, which typically will take about two years, you estimate about 10% of that project will generate design fees, of which we will administer, be in charge of, build a team around, subcontract where necessary to make sure the client gets the most excellent.

Over the design phase, which typically take about two years, we estimate about 10% of that project will generate design fees of which we will administer be in charge of build a team around subcontract work necessary to make sure of the client gets the most excellent.

Speaker 3: design and efficiency for making very, very major decisions on, again, what'll be a half a billion dollar construction project.

Design and efficiency for making very very major decisions on again, it'll be a half a billion dollar construction projects.

Speaker 3: So it's very exciting, right? So just think about what we just said. If the project moves forward as planned, it's probably, on the design alone, it's probably about $50 million for the business over the next 24 months.

So it's very exciting alright.

Alright, So just think about what we just said if the project moves forward as planned.

Probably on the design alone, it's probably about $50 million worth of business over the next 24 months. So.

Speaker 3: So far, so good. It's moving forward. It's early in our relationship. We're working through our preliminary feasibility. Preliminary feasibility, I wanna make sure. Feasibility is not a question of whether the technology work.

So far so good.

Moving forward, it's early in our relationship how we're working through our preliminary feasibility preliminary feasibility make sure feasibility is not a question whether the technology works.

Speaker 3: It's a comprehensive roadmap to all the pieces of the puzzle that will make a project of this magnitude successful.

It's a comprehensive roadmap to all the pieces of the puzzle that will make a project of this magnitude successful.

Speaker 3: So that's budgeting, that's timeframes, that's permitting, it's technology integration, it's all the things that make that project happen. And we have the talent and expertise to do that, and we're being compensated to do that for the developer. It's a very nice situation, and it really represents a significant compliment to the core competency of our group.

So thats budgeting Thats timeframes, that's permitting it's technology integration, it's all the things that make that project happen and we have the talent and expertise to do that and we're being compensated to do that for the developer to very nice situation and it really represents a significant complement to the core competency of our group.

And it also represents a move up in terms of vertical integration to substance in the marketplace. So we're very proud of this and we'll have more information as it unfolds and of course, the caveat to all of that is because.

Speaker 3: and it also represents a move up in terms of vertical integration to substance in the marketplace. So, we're very proud of this and we'll have more information as it unfolds.

Speaker 3: As we always say, you have to earn each phase. It's not free. You have to do the work and earn your way to the next step. We know that. But it is a very exciting situation. Okay?

As we always say you have to earn each phase it's not free.

To do the work and earn you earn your way to the next step.

We know that but it is a very exciting situation okay.

Next.

Speaker 3: PFAS. We touched on it briefly. I don't want to take too much time, but I do want to highlight this PFAS cycle is so interesting.

G fast we touched on it briefly I don't want to take too much time, but I do want to highlight this too fast cycles. So interesting.

Speaker 3: And again, PFAS, per and polyfluoroalkyl substances, these are the flooring byproduct of nonstick coatings that were used for 25 and 35 years all over the world in industrializations and things like carpets and food and cosmetics.

And again T F I S per and poly Fluoro alkyl substances. These are the the chemist the flooring.

Byproduct of non stick coatings that were used for 25, and 35 years, all over the world and industrialization and things like carpets in food and cosmetics.

And industrial applications.

Speaker 3: And because the molecule is built to last forever, it's built to essentially withstand nature's degradation process, they're called forever chemicals for a reason.

And because the molecule is built to last forever as Bill says essentially withstand nature's degradation process there.

They are called Forever chemicals for a reason they last forever.

Speaker 3: And this is a huge issue. You know, again, most people estimate something like an $80 billion market. We just learned recently, not only with the regulatory encroachment that has happened and continued to expand, I'll comment on that in a second.

And this is a huge issue.

Again, most people estimate something like an $80 billion market.

Learn recently not only with the regulatory encroachment that has happened and continue to expand.

I meant on the second.

We're also seeing.

Speaker 3: that this is now showing up in landfills, it's showing up in organic farming.

This is now showing up in landfills, it's showing up in organic farming.

Speaker 3: There's a high sensitivity, it's in air flow.

There was a high sensitivity it's in air flow.

Speaker 3: PFAS is now being detected all around and of course it's been linked to adverse health effects like birth defects and cancer.

P. Fast is now being detected all around of course, it's been linked to adverse health effects like birth effects in cancer.

Speaker 3: Um, we're just getting started. This is, this is a situation, a problem, a circumstance that's going to last decades.

We're just getting started there.

This is this is a situation that problem a circumstance that's going to last decades and.

Speaker 3: and we believe we have, arguably, one of the most efficient systems for.

And we believe we have arguably one of the most efficient systems for.

Speaker 3: selectively extracting and concentrating this for disposal and removal from the environment. Bottom line, you gotta get out of the environment.

Selectively extracting concentrating this for disposal and removal from the environment bottom line, you've got to get out of the environment.

Okay.

This speaks to the regulatory.

Speaker 3: This speaks to the regulatory, continuing regulatory encroachment.

Continuing regulatory encroachment.

Speaker 3: There's a subtlety to this. It's very important to understand. If this crisis is deemed to fall under CERTLA,

There's a subtlety the desk, that's very important to understand if this if this crisis is deemed to fall under cercla.

Speaker 3: That means that it will become a designation.

That means that it will become a designation.

Speaker 3: like a Superfund site, which mandates cleanup, allows for litigation to be pursued all the way down the supply chain.

Like a superfund site, which mandates cleanup allows for.

Litigation to be pursued all the way down the supply chain.

Speaker 3: and it also mandates cleanup. It becomes a super heightened environmental attention getter for action.

And it also mandates cleanup that becomes a super heightened environmental.

Our attention getter for action.

Speaker 3: There's practical things already happening, right? If a municipal drinking water supplier has PFAS in their water, whether legal or not.

There's practical things already happening right.

Simple drinking water supplier has paphos in their water.

Whether legally or otherwise they are induced to make actions as soon as possible.

Speaker 3: They're induced to make action as soon as possible. No one wants to sell PFAS contaminated water to a citizen.

And what to sell T fast contaminated water to us citizens.

Speaker 3: What it shows, though, is the steady march forward at the federal and, by the way, international. PFAS is now becoming an international situation as well. And Europe is a little behind the United States, but they're catching up quick.

But it shows though is that is the steady March forward at the federal and by the way International P. Foster now, becoming an international situation as well and Europe is a little behind the United States, but they're catching up quick.

Okay.

Speaker 3: I highlighted this a minute ago. I'm just going to make it really simple. The environmental footprint, the last slide, we end up with a small container or barrel versus a truck when compared to ion exchange or carbon filtration technology.

To highlight just a minute ago systemic it's really simple.

The environmental footprint. The last slide we ended up with a small container or a barrel versus a truck when compared to ion exchange or carbon filtration technology.

Speaker 3: Our ability to selectively extract the PFAS is the key. We take a very small media like a membrane, we flow water across an electric field, we migrate it to the membrane, it attaches, it binds, it accumulates.

Our ability to selectively extract the P forces the key we take a very small media like a membrane we flow water across an electric field, we migrate it to the membrane. It attaches it binds it accumulates selectively.

Speaker 3: It's the selective extraction that makes it so special, and the rate at which it selectively extracts is extraordinary, highly efficient, long-lasting. It's got lots of capability for loading.

The selective extraction that makes it so special.

And the rate at which it selectively extracts is extraordinary highly efficient long glass, it's got lots of capability for boating.

Speaker 3: We've now got a unit that's been running over six months. It's available across multiple types of water and ultimately, in the end, saves a bunch of money.

We've now got a unit that's been running over six months, it's available across multiple types of water.

But ultimately in knee and saves a bunch of money.

This is a basic representation of testing results that we spoke about Pryor Olin to show the image.

Speaker 3: This is a basic representation of testing results that we spoke about prior, but I wanted to show the image.

Speaker 3: And basically, this is a graph that takes 25 PFAS.

And basically this is a graph that takes 25 P fast.

Speaker 3: different molecules. And again, this is important. There's over 700. There's a handful of five or six that are considered the real culprits of potential harm.

Different molecules and again this is important there's over 700.

Theres a handful of five or six that are considered the real culprits of potential harm.

Speaker 3: and this is a panel of 25. And where you see the blue spikes, that's a high concentration. And then through the yellow and the gray and the red and the blue, what we're showing is an achievement of a performance level to a non-detect stat.

And this is a panel of 25, and where you see the blue spikes that has a high concentration.

And then.

Through the yellow and the gray and the Red and the Blue what we're showing is an achievement of a performance level to a non detect status, it's super techie, but it's really pretty simple we treat the water through our system and extract to a level at which technology cannot find anymore.

Speaker 3: It's super techie, but it's really pretty simple. We treat the water through our system and extract to a level which technology cannot find anymore.

Speaker 3: It's a great proof of claim, that proof of claim, which is really just a few months old.

Great. It's a great proof of claim that proof of claim which is really.

Just a few months old has equipped us.

Speaker 3: to go into the marketplace and have confidence and conviction that we can install these systems to scale and begin a commercial journey that our company and our customers can rely on.

To go into the marketplace and have confidence and conviction that we can install these systems to scale.

Again, a commercial journey that our company and our customers can rely upon and.

Speaker 4: and we've done quite a bit of work. Everyone knows that we've got patents, patent pending. The innovation, the discoveries are continuing. Obviously, we'll continue to focus on optimizing the system, but the bottom line is it's a workable solution. It's a huge problem. We're at the center of a storm. The competition's gonna have a hard time keeping up, and we believe the way to expand that is to get your first commercial adoption, which we're doing, and then expand through channel partnerships.

And we've done quite a bit of work.

Everyone knows that we've got patents patent pending.

The innovation the discoveries are continuing.

Obviously, we'll continue to focus on optimizing the system, but the bottom line is it's a workable solution. It's a huge problem we are at the center.

The center of the storm the competition is going to have a hard time, keeping up and we believe the way to expand that as to get your first commercial adoption.

Which we're doing.

And then expand through channel partners, which we're doing.

Very very exciting moment.

Speaker 3: Here at Cali and we've spoken about this, I can't emphasize enough.

Youre accounting, we've spoken about this I can't emphasize enough.

Speaker 3: you just think about it for a minute. Think through the relationship. This is a company with 100 years of history, very successful company, great people, very smart, love their customers, they know water like the back of their hand, right? Why were we selected?

If you just think about it for a minute think through the relationship. This is a company with 100 years of history.

Very successful company, great people very smart loved their customers. They know water like the back of the hand right why are we selected.

Speaker 3: It's like for a number of reasons. One is culturally we fit, we love our customers.

The selected for a number of reasons one is culturally we fit we love our customers.

When we step in front of the customer.

Speaker 5: We're, by our very nature, committed to the most excellent solution, and we stand behind our work, and they're going to get exactly what they bargained for. That's number one. Number two, we've shown an adeptness at sort of validating design and optimizing technology. Those two things have become very critical in the relationship with Garakalian, and as we've mentioned, we're heading into our first customer, and we'll hope to have some news soon on that. Okay.

We're by our very nature committed to the most excellent solution.

And we stand behind our work.

And theyre going to get exactly what they bargain for US number one number two we've shown an indebtedness that sort of validating design and optimize the technology because two things have become very critical in the relationship began Italian and as we've mentioned we're heading into our first customer.

And we will hope to have some news soon.

On that.

Okay.

And we've talked about poof.

Speaker 3: I'd urge you all to go to their website, P-O-O-P-H.com, P-O-O-P-H.com, watch the infomercial. There's a number of videos on the internet. What a wonderful example of preparation meets opportunity.

I'd urge you all to go to the website P. O L. P. H dot Com T O P. H dot Com watch the infomercial Theres a number of videos on the Internet.

What a wonderful example.

Prep preparation.

This opportunity.

Speaker 3: right? Preparation is opportunity. It's years of work. We became expert in the space. We've got the number one technical performer in the world. We believe that to be true. We have yet to see someone show us any differently. It's safe, environmentally sensitive.

Preparation meets opportunity its years of work we became expert in this space. We've got the number one technical performer in the world. We believe that to be true we have yet to see someone show us any differently.

Safe environmentally sensitive product highly.

Speaker 5: highly effective, and then combined with the right marketing and distribution opportunity, ding, ding, ding, we have a winner. So we're very excited about the work that they're doing, and we think that we'll continue to have a steady flow of increased success with that product.

Highly effective and then combined with the right marketing and distribution opportunity.

<unk>, we have a winter. So we're very excited about the work that they're doing and we think that will continue to have a steady flow of increased success with that product and it and the financial implications will be readily seen to our marketplace.

Speaker 5: and the financial implications will be readily seen to our marketplace.

In summary.

Speaker 5: As we said in our queue, this is the best time in the history of the company.

As we said in our T right.

This is the best time in the history of the company.

Speaker 3: So why is that? Well, the hardest work is done. The hardest work. What is the hardest? Well, it's innovating and proving up and finding first commercial adoption.

So why is that well the hardest work is done.

Hardest work, what is the hardest well innovating and proving up and finding first commercial adoption.

Speaker 5: That adoption cycle puts many companies out of business. We've been fortunate to survive it. We've also been fortunate to have the resource to invest in so many one-of-a-kind technologies. So important, one-of-a-kind technologies. You know, we believe each is number one.

That adoption cycle puts many companies out of business, we've been fortunate to survive. It. We've also been fortunate to have the resource to investors. So many one of the kind of technologies and an important one of a kind technologies.

We believe inches is number one in its category.

Speaker 5: If we didn't think so, we wouldn't be investing so heavily. We believe they have a chance to disrupt the markets. We're seeing the first signs of that, right? As you watch this happen, for example, with Iggy Guy, you know, they're a market disruptor. They're armed with sophisticated, very talented, great storytelling and a channel to build momentum and brand. And now they're equipped with one of the highest and most successful performing products in the history of the category. That would be ours.

Who didn't think so we wouldn't be investing so heavily we believe they have a chance to disrupt the markets. We're seeing the first signs of that.

As you watch. This this happened for example, where they can guy.

Their market disruptor.

Armed with sophisticated very talented great storytelling in a channel to build build momentum and brand.

And now they are equipped with one of the highest and most successful performing products in the history of the category that would be ours.

Speaker 5: combination makes for a winner. Our relationship in South Korea is advancing. Great relationship, great people. Still, COVID's a tough issue there, but they are expanding. They've spent about a year and a half in advanced testing, and opportunities are expanding in that market as well. So we believe that strategic partnership will profit and pay money for both partners, and it's only a matter of time. In the meantime, we continue to advance through strategic partnerships. We referenced in our queue a couple of things I just want to highlight.

Combination makes sure winter our relationship in South Korea is advancing great relationship great people still COVID-19 the tough issue there, but they are expanding they spent about a year and a half in advanced testing and opportunities are expanding in that market as well. So we believe that that strategic partnership will profit and pay money.

For both partners.

And it's only a matter of time in the meantime, we continue advanced through strategic distribution partnerships, we referenced in our Q a couple of things I just want to highlight.

Speaker 3: We talked about the pipeline of potential candidates for the AEC for PFAS, it's real. Three-channel partnerships and negotiation. We're also finding real interest from a number of new markets for our cupridine cleaning, new markets. I can't, I can't, it's hard to put your head around it, but what we're discovering.

We've talked about the pipeline of potential candidates for the H.

E C for P fast, it's real three channel partnerships and negotiation. We're also finding real real interest from a number of new markets for our Cooper time cleaning new.

New markets. So I can't I can't it's hard it's hard to put your head around it but what were in discovery.

Speaker 3: is that the chemistry, its redox reaction, some oxidation reaction, has efficacy in a number of chemical constituents that create problematic volatile organic compounds for airflow. Those industries, we're plowing through all of them. Why is that important? Some of them are quite large.

Is that the chemistry.

Redox reactions. Some oxidation reaction has efficacy in a number of chemical constituents that are that create problematic volatile organic compounds for airflow well those industries.

We're plowing through all of them and why is that important well some of them are quite large in fact, they they in many ways they might dwarf the business debt.

Speaker 5: In fact, in many ways, they might dwarf the business that make the other business that we have dwarf in comparison, it could be so big. So it's early, but we do have new customers and new markets doing new things. And we have new distributors that are quite significant size.

Make the other business that we have dwarfing comparison, it could be some big so it's early but we do have new customers in new markets doing new things and we have new distributors that are quite significant size come.

Speaker 5: coming on to secure rights, take the product to market, and that is also on an international basis. So stand by for more intelligence on that.

Coming on to secure rights take the product to market and that is also on an international basis, So standby for more intelligence on that.

So I think for now.

Speaker 5: These are sort of highlights, and I'll put it back to Brian and say, Brian , what kind of questions can we answer?

So our sort of highlights and I'll put it back to Brian to say Brian .

What kind of questions can we answer.

Excellent. Thank you Dennis are excellent.

Speaker 2: update on what's going on. Very positive direction with the revenues as well. You had mentioned record revenues.

Update on what's going on.

Very positive direction with the revenues as well you had mentioned a record revenues. So obviously, we're very happy to see that.

Speaker 2: So obviously we're very happy to see that and look forward to a continued hockey growth stick, right? Sure.

And look forward to our continued hockey growth stick right.

Sure.

Absolutely yes.

Speaker 5: Yeah, I mean, we think, yeah, I mean, to that end, maybe that deserves a comment.

Yeah, I mean, we think yes, I mean to that is maybe that deserves a comment.

Hum.

Speaker 5: What we're witnessing primarily is organic growth. What we believe will happen is leveraged exponential growth.

What we're witnessing primarily as organic growth what we believe will happen is leverage exponential growth.

Speaker 3: And we say believe because it's not done until it's done. I don't know how else to say it, right? But if you think about the relationships that we've just covered, Garrett Cowan being the prime example, and Icky Guy with the poof product, our partners are carrying a heavy load. And they have existing relationships.

And that's we say believe because it's not done until it's done I don't know how to say it right.

But if you think about the relationships that we've just covered gear Cowen being a Prime example.

And if he guy with the proof product.

Our partners are carrying a heavy load.

And they have existing tools that we don't have and we're leveraging those tools to create exponential growth and we believe that will happen both of them and then when we take that same concept to look back to the <unk> situation.

Speaker 5: we're leveraging those tools to create exponential growth. And we believe that will happen with both of them. And then when we take that same concept and look back to the PFAS situation,

Speaker 3: We've got three channel partnerships in negotiation, and I can characterize them. One's a major engineering group with a huge footprint, already established in PFAS, and a significant backlog. Notice the difference. Backlog is clients already doing projects.

We've got three.

Channel partnerships in negotiation and you know I can characterize them once a major engineering group with a huge footprint already established P. Boston a significant backlog notice the difference backlog as clients already doing projects.

Speaker 5: Okay, and then another group that's highly skilled, more entrepreneurial, but highly focused in the mining field and another group doing significant environmental remediation with a 20 plus year history of water treatment all over the country. So, so these are well established.

Okay and then another group is a highly skilled more entrepreneurial, but highly focused in the mining field and another group doing significant environmental remediation with a 20 plus year history of water treatment all over the country. So so these are well established.

Speaker 3: partners, right, strategic partners, who have relationships to see large-scale rollout.

Partners strategic partners, who have relationships to see large scale rollout occur.

Speaker 3: And as we continue to refine our modeling, our systems, we will have scalable design.

And as we continue to refine our modeling our systems.

We will have scalable design.

Speaker 3: efficiency, a highly valuable value proposition to offer, the technical knowledge to support.

Efficiency.

Highly valuable value proposition to offer that.

Technical knowledge to support.

Speaker 5: a national and global rollout through partnerships and I believe that's what's going to happen. So we're very excited about it.

A national and global rollout through partnerships.

And I believe that's what's going to happen. So we're very excited about it.

Excellent good to hear.

A lot of irons in the fire.

Right.

<unk>.

Speaker 2: Just a matter of time before those come in and as we see revenue grow, we're seeing that

Just a matter of time before those come in and as we see revenue grow that were seeing that come true.

Speaker 6: Um, so several, uh, questions from.

So several questions from audience members today. So the first one hears from a Mr. Davis, Ryan asking about.

Speaker 2: members today. So the first one here is from Mr. Davis Ryan asking about staffing. So we've seen a headcount increase by four in the filing. Can you elaborate a little bit more on who you brought on?

Staffing so we've seen a head count increased by four in the filing.

Can you elaborate little bit more on who you brought on.

Speaker 2: what types of roles the company expects to bring on moving forward.

And what types of roles the company expects to bring on moving forward.

Sure so.

Speaker 3: The nature of a lot of the business that we do has the ability to bring in also subcontractors, right? So while we see four employees addition mostly that's an either business development or an engineering role

The nature of a lot of the business that we do has the ability to bring in also subcontractors right. So while we see four employees addition, mostly that's in either business development or an engineer enroll.

Speaker 5: That's where we've got clients that demand significant attention and expertise, right? Development role and science, engineering.

That's where we've got clients that demands.

Significant attention and expertise right development role and science engineering engineered.

Speaker 5: We also have a cadre of 1099 contractors, which is kind of common in the engineering field. So our engineers have been practicing their skill for 20 to 30 years. They have relationships that span decades. And so initially, we supplement our workload with subcontractors. And then over time, as the demand fills and the pace quickens, we add additional staff. So I would say in

We also have a cadre of tendering that contractors, which is kind of common in the in the engineering field. So our engineers have been practicing their skill for 20.

30 years, they have the relationships that span decades, and so initially we supplement our workload with subcontractors and then over time.

The demand fills and the pace quickens, we add additional staff. So I would say in the engineering and business development side, you'll see the most growth in staffing that's what I would anticipate for the future.

Speaker 5: engineering and business development side, you will see the most growth in staffing.

Speaker 2: Great. Another question here is about the feasibility study contract with Waste to Energy.

Great.

Another question here is about the feasibility study contract with that waste to energy.

Speaker 2: Can you talk about the size or duration or potential estimate?

Can you talk about the size or duration or potential estimate.

Speaker 3: on that? Well, the preliminary feasibility is generally just a few months.

On that well the preliminary feasibility is generally just a few months okay.

Speaker 3: Okay, so figure, you know, two, three months worth of work. And what we do is we circle the wagons with the extraordinary talent, right? So highly skilled people get involved, some subcontractors, some direct with the company. And we bring all that knowledge to bear to be able to go back to the developer.

So figure you know two three months worth of work and what we do is we circle the wagons with.

Extraordinary talent right. So highly skilled people get involved some subcontract or some direct with the company.

And we bring all that knowledge to bear to to be able to go back to the developer.

Speaker 5: and present a comprehensive outline of timelines. First things first, right? So the step-wise progression of a major project including permitting, capital allocation, cost estimates.

And present, a comprehensive outline of timelines.

First things first strengths of the <unk>.

Stepwise progression of a major project clean permitting capital allocation cost estimates.

Speaker 5: yield technology choices and present to the developer the magnitude of the project that has already been secured under contracts. It's important you know that. This is a contract where our customer, the developer, is spending real money. This is not, I hope I get it. This is, okay, I got to gear up and get this done. That's why they hire us.

<unk> technology choices and present to the developer the magnitude of the project.

That has already been secured under contract. So it's important to know that right. This is this is a contract where our customer for <unk>.

Developer.

This spending real money.

This is not I hope I get it. This is okay I've got to gear up and get this done.

That's why they hire us.

Speaker 5: So, yeah, so it'll be a few months. We'll see that revenue flow through. It's already started, right? And in these projects, typically you're working on a cost plus type arrangement and you get paid hourly. And really it's the first step in the long step of the project in which we're being compensated to develop the roadmap for the customer. It's that simple.

So.

Yeah, so it'll be a few months, we will see that revenue flow through its already started right.

And in these projects typically youre working on a cost plus type arrangement and you get paid hourly and really it's the first step in a long step.

Okay.

The project in which were being compensated to develop.

The roadmap for the customer it's that simple.

Excellent.

Speaker 2: Um, so on to, uh, the Garrett Callahan relationship, um, the MLB.

So onto the Garrett Callahan relationship.

Hum MLP unit.

Speaker 6: Can you say when the unit is expected to be shipped or timeline for future units to be assembled and shipped?

Can you say when the unit is expected to be shipped or timeline for future units to be assembled in Egypt.

Speaker 5: Yeah, that's a good question. No, it's not ready to be shipped yet. So originally, we were going to do a pilot scale unit, put on a truck, take it around the country. And what happened is we really

Yeah. That's a good question no it's not ready to be shipped yet. So originally we were going to we were going to do a pilot scale unit put on a truck taken around the country.

What happened was we really.

Speaker 3: You know, that's a very conservative approach. So let's just let's just say what it is. Right. So so you do that because you're not sure.

You know that's a very conservative approach. So, let's just let's just say what it is right. So so you do that because youre not sure.

Speaker 5: Yeah, sure. Until you get through the development phase and where you're at with the customer, that's what you do. That would be normal.

Yeah sure until you get through the development Phase where you are in the customer that's what you do that would be normal.

Speaker 5: What we'd like to do, and what we think we have a good potential to do, is sort of short-circuit some of that. Go fast.

What we'd like to do and what we think we have a good potential to is sort of short circuit some of that go faster.

Speaker 3: You say, well, why? Why can't we go faster? Well, because the design of the minimum liquid discharge is an elegant combination.

And you say well why why why can we go faster.

Because the design of the minimum liquid discharge is an elegant combination.

Speaker 5: of know-how and resources in a rather straightforward way.

Of Knowhow and resources and a rather straightforward way that allows for performance to be achieved that the market's not saying okay. So.

Speaker 5: that allows for performance to be achieved that the market's not seeing, okay? So once it's done, as you study it, look at it, we believe the risk of failure is extraordinarily low.

When once it's done as you as you study it look at it we believe the risk of failure is extraordinarily low.

There if theres failures, because someone missed something not because the system or the technology is not functioning properly.

Speaker 5: If there's failure, it's because someone missed something, not because the system or the technology is not functioning properly. Well, if that's the case, we can make it work anyway.

That's the case, we can make it work anywhere in the world.

Speaker 3: So what happens is you kind of get to that spot where you say, you know, why are we doing trials to give us data that we don't need to prove that a machine works that we already know works?

So what happens is you kind of get to that spot where you say you know why are we doing trials to give us data that we don't need to prove that our machine works. They were all in the works.

There is no need for that.

Speaker 5: There's no need for that. Now, our test will be, can we sell this?

Our test will be can we sell that.

Speaker 5: Right. Can we get through that relationship with customers and bring that to bear? We think we can.

Alright can we get through that relationship with customers and bring that sphere, we think we can.

Speaker 5: You know, when we do work for a customer, we have to stand behind it and we always do.

You know when we do work for our customer.

We have to stand behind it and we always do.

Speaker 5: This is no different. We stand behind it. We assure performance. We assure the result it's bargained for, and we have to deliver. That's the nature of the beast in our field.

This is no different we stand behind it we assure performance we assure the result, it's bargained for.

And we have to deliver that.

The nature of the Beast in our field.

Speaker 5: It's operational excellence, okay? Well, yeah, of course we do that. So that's what we're doing. It's that simple. So we're in the process now of working through that with the customer.

It's it's operational excellence.

Yeah of course, we do that so that's what we're doing with.

That simple so we're in the process now of working through that with the customer.

Speaker 5: Right? And so stand by, you know, we think we can, we're going to give it a shot, we're going to do everything in our power, we'd like to skip a protracted and costly pilot process for a system that we believe doesn't need it. That's the punchline to the story.

Right and so standby.

We think we can we're going to give it a shot or do.

Everything in our power, we'd like to skip a protracted and costly pilot process for a system that we believe doesn't need it.

The punch line to this story okay.

Thanks.

Speaker 5: Yeah. And again, to be clear, those, I just want to make sure we're clear, because when are we going to ship it? It's not like that. The question is, when are we going to get the order?

Yeah, and again to be clear those notes, we'll make sure. We're clear so when are we going to ship it it's not like that.

Question is when are we going to get the order.

Speaker 3: And when's the order going to translate to a build, a construction, installation, and turnover? So, start to finish with that first customer. You're probably talking, and again, I don't want to pin it down exactly, but you're probably talking at least three, four, or five months. I mean, that's a lot of work. That system will go into the field. But we'll have a purchase order in hand before we start.

And when does the order going to translate to a build.

Our construction installation turnover so start to finish with that first customer, you're probably talking and again I don't want to pin it down exactly but you're probably talking at least three four or five months I mean, that's a lot of work that system will go into the field that will have a purchase order in hand before we start.

Speaker 2: Go ahead. Yeah. And there's a second question here, kind of along the same lines, regarding the AEC. In particular, do we have an approximate timeline, moving on site, generating...

Go ahead, Yeah, and then there's a second question here kind of along the same lines regarding the E. E. C. In particular do we have an approximate timeline move.

Moving on site generating revenue with that.

Speaker 5: Well, it's hard to pin down the exact timeline for a couple of reasons. The first is that we now have a number of trial opportunities. We should speak about that briefly. As everyone knows, we work with one of the major water districts in Southern California, and they've agreed to move forward with trials, which is great. We like that a lot. We also have

Well, it's hard to it's hard to pin down the exact timeline for a couple of reasons. The first is.

That we now have a number of trial opportunities we should speak about that briefly as everyone knows we worked with one of the major water district in Southern California, and they've agreed to move forward with trials, which is great. We liked that a lot. Okay. We also have customers who want units.

Speaker 3: So it's an interesting situation, again, where the proof of claim is so substantial and our ability to stand behind its performance, we believe will lead us into commercial activity while we continue to do pilot work.

So it's an interesting it's an interesting situation again, where the proof of claim is so substantial in our ability to stand behind its performance. We believe will lead us into commercial activity, while we continue to do pilot work.

Speaker 5: It's not commercial after the pilot. It's at the same time.

It's not commercial after the pilot at the same time.

Speaker 5: So we believe that that's feasible. It's capable of happening. Now we have to prove that. We have to prove that.

So we believe that that's that's feasible, it's capable happening now.

Now we have to prove that.

So let's prove them how do you prove that when you get orders.

Speaker 3: the answer. So between the strategic partnerships, which I think is a huge, huge breakthrough, with the combination of new customers who will go through a process of designing and building for them.

The answer so between the strategic partnerships, which I think is a huge huge breakthrough with the combination of new customers, who will go through a process of designing and building for them.

Speaker 3: It all requires that we stand behind the work to make sure that it performs exactly as the customer has bargained for. Well, we know it will.

It all requires that we stand behind the work to make sure that it performs exactly as the customer is bargain for well we know it will.

So we're not afraid.

At all.

Speaker 3: have no fear. We're at a spot now where we know the system is scalable. We know it works. We've got data to back it up. We've got six months of operating history with no significant implications to the degradation or supply of the unit on a continuing basis in the field. So, it's a great time. We do believe that on the trial basis, there are certain segments of the market that are very demanding and will not move forward without those trials. So, that would be namely municipal.

No fear, we're at a spot now where we know the system is scalable we know it works good data to back it up we've got six months of operating history with no significant.

Occasions to the degradation of our supply of the unit on a continuing basis in the field. So it's a great time.

We do believe that on the trial basis, there are certain segments of the market that are very demanding and will not move forward without those trials, so that would be namely municipal.

Speaker 5: Those are public agencies, they're risk-adverse at the highest level, and so if we want to penetrate the drinking water market, which is largely municipal, we will be required to do commercial pilots that take time.

Those are public agencies there there.

Our risk adverse at the highest level.

And so if we want to penetrate the drinking water market, which is largely municipal we will be required to do commercial pilots.

That take time and money.

Speaker 5: However, there's a number of markets that don't have the same requirement. So, while we've achieved this,

That's just the way it works however, there's a number of markets that don't have the same requirement.

So while we have achieved this.

Create extraordinary proof of claim.

Speaker 5: And we've had enough comfort and knowledge and confidence to know that we can sit down in front of the marketplace and provide assurance of performance.

And we've had enough comfort and knowledge and confidence to know that we can sit down in front of the marketplace and provide.

Sure it's a performance.

Speaker 5: We believe that we can pursue a dual track. Commercial on the one hand, piloting and development on the other. For the other, much higher

We believe that we can pursue a dual track commercial on the one hand.

Highlighting and development on the other for the other much higher.

Speaker 5: bar to entry which would be those commercial pilots which can be very expensive and time-consuming. We're not afraid of them, they're just expensive.

Bar to entry.

Which would be those commercial pilots, which can be very expensive and time consuming we're not afraid of them Theyre just expensive.

Speaker 3: So we're figuring that out. That's the truth. We're balancing that balancing act between those two clients, and we're making the decisions. We actually have significant energy, internal time, energy, and money going into the process of planning out what a pilot would look like at the commercial scale that we're talking about. It's very feasible. It's doable. We just wanna make sure that we also get it perfectly right to advance our commercial plans into that market.

So we're figuring that out that's the truth, we're balancing that balancing act between those two clients and we're making the decisions we actually have significant energy internal time energy and money going into the process of planning out what a pilot would look like at commercial scale that we're talking about it's very feasible. It's doable, we just want to make sure that we also get it perfectly right.

To advance our commercial plans into that market. So were going to we actually have team meetings coming up next two weeks, we'll be meeting with the client really solidifying those options.

Speaker 3: So we're gonna actually have team meetings coming up in the next two weeks. We'll be meeting with the client, really solidifying those options. And so we're excited about both.

And so we're excited about both.

Okay.

Yeah.

Excellent.

Speaker 2: All right, moving on here, we have a question about.

Moving on here, we have a question about.

Hickey Guy.

Speaker 2: And besides poof and cat spray products, are there any other products?

And besides per fan cafe products are there any other products in our pipeline with them, maybe a clearer clans or something for distribution.

Speaker 2: pipeline with them, maybe clear a cleanse or something for distribution.

Speaker 5: There's always that discussion. If you look at their marketing strategy, they're certainly bundling some insular products alongside of the pet odor control product, which we think is great. From a technical perspective, we have a license agreement that gives them the right to cat odor control.

There's always that discussion.

You look at their marketing strategy, there certainly bundling some ancillary products alongside of the pet odor control product, which we think is great.

From a technical perspective.

We have a license agreement that gives them the right to <unk>.

Pet odor control.

Speaker 5: There are additional products in discussion about launching into the marketplace with them, and I suspect it will happen, and we're working through the business terms of those as we speak. Okay.

There are <unk>.

Additional products in discussion.

About launching into the marketplace with them and I suspect it will happen and we're working through the business terms of those as we speak.

Okay great.

Another question here is.

Speaker 2: You can shed some light on the developments in the automotive painting sector, as well as in paper pulp industry for O&M.

If you can shed some light on the developments in the automotive painting sector as well as in paper pulp industry for O&M.

Speaker 7: Um, yeah, the, uh, so again, okay.

Yeah.

So again.

Go ahead.

Yep, that's N Bryan.

Speaker 3: Yeah. So we've got a couple of customers, which is good. And it's so interesting how it happened.

Yeah. So we've got a couple of customers, which is good and it's so interesting how it happens.

Speaker 5: you know, you hear about a complaint, you find a relationship, you have a door open, and next thing you know, there's a trial and people are discovering potential in a market that perhaps we just haven't gotten to yet, right? And so that's very interesting. And then what happened in this case is that led to then the referral by one of the automobile manufacturers.

No.

You hear about a complaint you kind of relationship you have a door open and next thing you know Theres a trial and people are discovering potential in a market that perhaps we just haven't gotten to yet right.

So so that's very interesting and then what happened in this case is that led to them.

The referral by one of the <unk>.

Automobile manufacturer.

Speaker 3: to an distributor that is an international scale to take in the line and begin a delivery, you know, a system of delivery and support for an existing client. Perfect. That's how it starts. That's it. That's all it is.

Two and distributor that has an international scale.

Two.

To take into line.

And began.

Delivery system of delivery and support for an existing client perfect Thats how it starts that's it it's all of this for now.

Speaker 5: We believe it will expand because the distributor, who is an international significant company, looks at it and says, you know, I've got 100 customers.

We believe it will expand because the distributor who as you know.

International significant company.

Looks at it and says you know I've got 100 customers for this.

Speaker 5: And again, I say that, you know, rhetorically, not literally, but it might be a thousand. I mean, we don't know.

And again, I say that you know rhetorically, not literally but but it might be 1000, I mean, we don't know.

Speaker 3: Okay, this is a situation where we found a new market.

Okay. This is a situation where we found a new market we were pulled into it it's working it's working well and now we're in business with some major companies that have the horsepower to do this on an international scale. So you know all I can really say stay tuned I think it's very exciting because it shows the power of the of the chemistry.

Speaker 3: we were pulled into it, it's working, it's working well, and now we're in business with some major companies that have the horsepower to do this on the international scale. So, you know, all I can really say is stay tuned. I think it's very exciting because it shows the power of the chemistry.

And I think there's many more markets, we're going to find along the way as well. So this will just have.

Speaker 5: And I think there's many more markets we're going to find along the way as well. So this will just have.

Speaker 3: This is an example of, you know, as I say, getting some legs. This is getting some legs, and it's going to keep going. So, stand by. We'll keep you posted. I don't think there's a really material financial implication yet.

This is an example, you know as I say getting some legs. This is getting some legs and it's going to keep going so standby and we'll keep you posted I don't think there's a really material financial implication yet.

Speaker 5: I just think it's a door open that's pretty remarkable, and there's more coming. Okay.

I just think it's a door open that's pretty remarkable and theres more coming okay.

Yeah excellent.

Speaker 2: Yeah, there's two questions left here, but we can kind of combine them.

Yeah, there's just two questions left here, but we can kind of combine them.

So.

Folks are kind of interested in.

Speaker 2: Folks are kind of interested in how.

How.

Speaker 6: where to prioritize, right? Like AEC, for example, can we focus more energy and effort on business development with that?

You decide where to prioritize right like.

E. C. For example, can we focus more energy and effort on business development with that.

Speaker 2: or are we distributing our resources to development?

R.

Are we distributed energy resources development, yes.

Speaker 3: That's a great question. I think it's the right question, actually. The answer is pretty simple. As a company, you go where the

That's a great question so.

And I think I think it's the right question actually so I think the answer is pretty simple the.

As a company.

You go where the where they're getting is good.

Speaker 3: Right? I mean, that's what happens. And so we believe.

Right I mean, that's what happens and so we believe.

Speaker 5: that the PFAS situation will continue to rise up as one of the lead priorities in the portfolio.

But the <unk> situation, we will continue to rise up as one of the lead priorities in the portfolio.

Speaker 3: And as that occurs, and you study barriers to entry, margin contribution, and the ramping up,

And as that occurs.

And your study.

<unk> entry margin contribution.

And the ramping up U you essentially reallocate.

Speaker 5: And because you're going to focus where you've got the most win to drive value for your shareholders. So that's a natural occurrence.

And because you are going to focus where you've got the most twin to drive value for your shareholders. So that's a natural occurrence.

Speaker 3: Part of our journey of history has made that difficult because, as everyone knows, it took a long time to find the breakthrough.

Part of our journey of history has made that difficult because.

As everyone knows it took a long time to find the breakthrough.

And as the breakthrough started occurring it got attention.

Speaker 5: and our portfolio continue to expand. So I believe the PFAS will rise up in that way, which is a great situation. And as it does...

And our portfolio continues to expand so so I believe that <unk> will rise up in that way, which is a great. That's a great situation and as it does.

<unk>.

Speaker 3: It doesn't mean the other opportunities are not real. It doesn't mean that they're not worthy of attention. It just means that in terms of allocation of time, energy, and money, they become the priority. So the AOS is a good example. We love the AOS as an incredible invention. We're finding a very difficult time getting commercial traction. It doesn't mean it won't.

It doesn't mean, the other opportunities and a real it doesn't mean that they're not worthy of attention. It just means that in terms of allocation of time energy and money they become the priority. So the AOS is a good example, we loved the AOS is an incredible invention.

We're finding a very difficult time getting commercial traction it doesn't mean it won't work.

Speaker 3: We're just having a hard time. Why? Well, because we're ahead of the curve.

Just having a hard time why well because we're ahead of the curve.

Speaker 3: where how did it occur? If you go, just read, read about micro pollutants, where regulatory enforcement is occurring, what people are doing, how they're doing it. We represent a technical breakthrough. So in Europe ...

Ahead of the curve. If you go just re read about micro pollutants, where regulatory enforcements occurring where people are doing how they're doing it we represent a technical breakthrough. So in Europe micro pollutants is a hot topic in America not so much pathos has a bigger deal because other challenges the stock markets and chaos.

Speaker 3: pollutants is a hot topic. In America, not so much. PFAS is a bigger deal. There's other challenges. The stock market's in chaos. Inflation is rising. I mean, there's all this stuff going.

<unk> is rising I mean, there's all the stuff going on.

Speaker 5: So what happens is we know that that asset, that significant investment behind it, will find a commercial home. I also think.

So what happens is we know that that asset with significant investment behind it will find a commercial home I also think there.

Speaker 3: That is, as the prizes rise up in the portfolio, I think that it creates a real opportunity to potentially spin out or sell off some of the other assets, which has really always been part of the design of the business. So, that's how.

That is as the as the as the prices rise up in the portfolio.

I think that it creates a real opportunity to potentially spin out or sell off some of the other assets, which has really always been part of the design of the business.

So that's not scary that's great.

Speaker 3: great. Some of these assets would be great in the hands of someone with the resources and attention to really take them through that cycle of adoption.

Great and some of these assets would be great and in and in the hands of someone who has the resources and attention to really take it to that cycle of adoption.

Speaker 3: Remember that the design of every asset in the portfolio leverages the assets of partners.

Remember that the design of every asset in the portfolio Leverages the assets of partners.

It's the entire design of the business.

Speaker 3: Why? Why do you do it that way? Well, because the barrier to entry is so hard, the capital requirement to do that breakthrough is really demanding.

One why do you do it that way because the bearing interest so hard the capital requirements that breakthrough is really demanding so in our case in our case, we're looking for the contribution margin of high margin low risk.

Speaker 5: So in our case, we're looking for the contribution margin of high margin, low risk.

And that's what we're doing in it and by the way it is working.

Speaker 3: right, contribution margin, low risk with a diversified portfolio. It makes for a great value proposition. And of course, as they rise up, you're gonna focus increasingly on the big winners and that's happening naturally. So I think it's gonna continue. I think on occasion, it presents operational challenges, but nothing that stopped the business at all. And I also think it's critical, even thinking about PFAS, you know, what's the next big move? We'll get a customer.

Alright contribution margin low risk with a diversified portfolio. It makes it where it makes for a great value proposition and of course as they rise up youre going to focus increasingly on on the big winners and that's happening naturally. So I think it's going to continue I think it <unk>.

Patient presents operational challenges.

But nothing to stop the business at all and I also think it's critical even think about P fast.

What's the next big move.

We get a customer.

Not that complicated.

Speaker 5: that's what we're going to do. Get a customer and it'll be a good one. And then we'll work on number two and then we'll work on number three. And naturally what will happen is two will become four and four will become eight and eight will become twenty and it'll be a hundred. And I think it can be a thousand. I mean this is a significant

And so that's what we're going to do.

And it'll be a good yes, and then and then we'll work on number two.

And naturally what will happen is to become forward for become alienate will become 20 and it'll be 100.

And I think it can be 1000, I mean, this is a significant commercial opportunity.

Speaker 3: commercial opportunity. The other thing we've mentioned in our filings, which I think is really important, is the size and scope of these projects is far bigger than we ever

<unk>. The other thing we mentioned in our filings, which I think is really a quota is the size and scope of these projects is far bigger than we ever imagined.

Speaker 3: I mean, we're looking at projects that can be 5 and 10 million a year for 20 years.

I mean, we're looking at projects that can be five and $10 million a year for 20 years.

Speaker 3: Okay, these are like super fun cleanup sites.

Okay. These are these are like Superfund cleanup sites.

Speaker 3: I've said it in interviews a number of times, but it's real, right? So how long did it take to get that pollution in the water system? Well, 20, 30 years. Well, what makes you think you can get it out faster than 20 or 30 years?

Right now as I've said in interviews a number of times, but Israel right. So how long does it take to get that debt pollution in the water system, well 2030 years.

But what makes you think you can get it out faster than 20 or 30 years.

I mean these are going to go on for decades, we're going to see we're going to be hearing about paphos.

Speaker 5: I mean, these are going to go on for decades. We're going to see, we're going to be hearing about PFAS, you know, with our kids.

With our kids and our grandkids.

Speaker 3: This is not just going to go away. And so we think it's a big opportunity. And of course, we have a significant impact to make. So, you know, we're knocking on the door.

This is not just going to go away and so we think it's a big opportunity and of course, we have a significant impact to me so.

We're knocking on the door and so.

Speaker 3: I think we'll have really good news soon. I hope it's very soon, but rest assured that it's a top priority in the company and we're pressing along. And here's the good news, I've referenced already, we've got over $90 million in projects. We're looking at three commercial partnerships in the works.

I think we will have really good news soon I hope, it's very soon but rest assured that it is a top priority in the company and we're pressing along and here's the good news that Rob referenced already got over $90 million of projects. We're looking at three commercial partnerships in the works.

Speaker 3: Okay, let's go get them done and we'll come back and share the information as we knock them off.

Because you can get them done.

And we will come back share that information as we can because we knock them off.

Speaker 2: Excellent. And actually on the topic of the AOS, are you guys looking at the residential market, home water, pool water cleaning?

Yeah excellent.

On the topic of the E. L. F are you guys looking at that residential market home water cold water cleaning.

Speaker 5: That's a good question. The conceptual design of the AOS would be great for the home treatment, but the regulatory pathway would be probably exhaustingly painful at this stage of the business.

That's a good question you know the conceptual design of the AOS would be great for home for the home treatment, but the regulatory pathway would be probably exhaustingly painful for at this stage of the business.

Speaker 3: So, early on when we first started down this path, you know, I've had, I have a chance to meet leaders from around the world, and I met with one of the leaders, you know, top leaders.

So early on when we first started down this path.

I have a chance to meet leaders from around the world.

And I met with one of the leader.

Top leaders in the EPA.

Speaker 3: And the comment to me was, whatever you do, don't do drinking water first.

And the comment to me was whatever you do don't do drinking water first.

Speaker 5: And what they're really saying is that the regulatory scheme is so difficult to navigate. Now, we experienced this with the 510K with CLERA. You know, that 510K cost us like $3.8 million. This is a significant investment. And in about three and a half years, delay after delay after delay beyond our control. And each step costs more money. It's going to be the same way you're drinking water.

Okay, and what they're really saying is that the regulatory scheme is so difficult to navigate and we experienced this with a five 10-K with clearer.

You know that financing cost is like $3 $8 million is a significant investment in it about three and a half years delay after delay after delay beyond our control and each step cost more money, it's going to be the same way you are drinking water.

Speaker 3: So I would say, yes, we can see this technology in the future for drinking water, but not as a priority today for us, given the other mix of opportunities that we're focused on.

So I would say, yes, we could see this technology in the future for drinking water, but not as a priority today for us given the other mix of opportunities that we're focused on.

Speaker 3: So we'll come back to that one when we're with the right partner or with the right resource and when the timing's more appropriate to deliver something the market's yearning for. Again, micro pollutants are not not the hot topic in the United States of America. You know what's hot topic? PFAS.

So we'll come back to that one when we're with the right partner with the right resource and when the timing is more appropriate to deliver something the market's yearning for again micro pollutants are not not the hot topic in the United States of America, and it was hot topic P farce.

He passes the is the big is the big outcry for industry.

Speaker 5: PFAS is the big outcry for industry and the public.

So we think we're on the we're in the sweet spot there and by the way. There's also a significant role for the AUC and the AOS together.

Speaker 3: We think we're in the sweet spot there. And by the way, there's also a significant role for the AEC and the AOS together.

Speaker 3: I don't know if you picked up on that in the queue, but we've received a significant grant to continue to work with the municipal wastewater treatment facility in Montreal. Now we're doing a combination unit treating wastewater and PFAS in the same path.

So I don't know if you picked up on that in the Q, but you know we've got a we could receive a significant grant to continuing to work at the municipal with municipal client and a wastewater treatment facility in Montreal.

And now we're doing a combination unit trading wastewater and P fast and the same pass.

Speaker 5: Well, there's a little glimpse of the future, so yeah.

There's a little glimpse of the future.

Yeah.

Hope that helps.

Yeah, very good I appreciate that alright.

Speaker 2: Very good. I appreciate that. All right. So, the last question of the day, and we can wrap up here, but can you give us a brief update on the South Korea joint venture, AQUA Co.?

Alright, so the last question of the day and we can wrap up here, but can you give us a brief update on the South Korea joint venture.

Aqua co and mineral extraction ventures.

Speaker 5: Yes. Okay. Sure. That's a lot. Okay. So the South Korean venture, we mentioned in our presentation, great relationship, great people, super smart, very, very dynamic business in Korea. One of the leading companies there doing wastewater treatment. They've exported that technology to America in a company called Tomorrow Water. Extraordinarily talented, smart people who are now building the business here.

Yes, Okay sure that's a lot okay. So the south Korean venture we mentioned in our presentation great relationship great people Super Smart very very dynamic business in Korea.

One one of the leading companies they're doing wastewater treatment.

Exported that technology for America, and a company called Tomorrow water extraordinarily.

Talented smart people, who are now building the business here.

Speaker 5: And so that relationship is continuing. We actually have meetings with them probably every six weeks, something like that. Very collaborative in the nature of it. Very methodical.

And so that relationship is continuing we we actually have meetings with them probably every six weeks something like that.

Very collaborative in nature.

Nature of it.

Very methodical.

Not not fast.

Speaker 5: We believe in the long run we're going to be good, not material financially yet, but again, we think we're really connected with excellent people to expand the market.

We believe in long run going to be good not material financially yet.

But again, we think we're really connected with.

Excellent people to expand the market I'll also say.

Speaker 5: You just can't underestimate the role of COVID in Asia. You know, there's people that are still on lockdown, okay? So it's just a little bit of a different time.

You just can't underestimate the role of Covid in Asia.

People that are so unlocked down okay. So it's just it's just a little bit of a different time there.

Speaker 3: Um, and so, you know, what I would say is, uh, great relationship, stay tuned, um, remember that the venture does not require continued financial support. So, so we, we're here to help them as we can. It's up to them and, and they're, they're finding their way. So we're encouraged. Um, on the AquaCo, we've had a couple of projects come through the system. It's really nice. We focus primarily on specific projects.

And so you know what I would say is a great relationship stay tuned.

Remember that the venture does not require continued financial support. So so we were here to help them as we can it's up to them and they're finding their way. So we're encouraged.

On the Aqua Koh we've had a couple of projects come through the system. It's really nice we focused primarily on specific projects.

Speaker 3: We're now in cycle on working through bids and potential wins, and all I can say is I'll keep you posted, but we're highly encouraged by the work that we've done there. And so we think the fruit is in the making. It's not done yet. It's in the making.

We're now in cycle on working through bids and potential wins and all I can say is I'll keep you posted but we're highly encouraged by the work that we've done there.

And so we think the fruit is in the making not done yet so the making.

Speaker 5: The other was, let's see, oh, on the mineral extraction. Yeah, on the mineral extraction, again, we put this in the queue. This is public information. Our role in that venture as a technology and services supplier, so we're a vendor. We're a supply chain partner to the project. We're not the developer. We're not the owner. It's very important. So what we've done...

The otherwise, let's say oh in the mineral extraction, yeah on the mineral extraction again, we've put this in the Q. This is public information.

Our role in that venture as as a technology and services supplier, so real vendor, who a supply chain partner to the project, we're not the developer we're not the owner.

It's very important.

So what we've done is said how can we help the owner secure the financing secured the resources, making good plan and that's our role so as a result.

Speaker 3: secure the financing, secure the resources, make a good plan. And that's our role. So as a result.

Speaker 5: We're working with the partner, the customer in this case, who will also eventually become our partner.

We're working with the with the partner the customer in this case, who also eventually become our partner.

Speaker 5: to facilitate their securing of the financing. And there's activity, it's slow. I believe one day it's gonna wake up with some financing in place. I can't predict the timing, but we're definitely engaged and we're definitely continuing to help our client move forward.

To facilitate their securing of the financing.

There is activity slow I believe one day, it's going to wake up with some financing in place I can't predict the timing, but we're definitely engaged and we're definitely continuing to help our clients move forward.

Speaker 2: So, there's no estimate of timing yet, but certainly a significant financial opportunity for both the owner, the developer, and us. Go ahead. Thanks, Brian . Very good. Yes. No, those are all the questions. I really appreciate you and the thorough responses here. Clearly, a lot of moving parts, a lot going on, but positive direction is kind of the main takeaway. Record revenues. I'm a big believer in the importance of the financial side of things. So, thank you very much. Thank you.

So theres no estimate yeah.

Yet no estimate of timing, yet, but certainly a significant financial opportunity for both the owner the developer and us.

Thanks, Brian .

Yeah no those are all the questions really appreciate your thorough our responses here.

Clearly a lot of moving parts a lot going on but positive direction kind of the main takeaway record revenues.

Irons in the fire right looking forward to the future.

I think yeah, maybe if I may in summary, I think the way to think about it is we've got two strategic.

Speaker 3: I think, yeah, maybe if I may, in summary, I think the way to think about it is we've got two strategic.

Speaker 5: you know, partnerships in place, their channel partner agreements.

<unk>.

Partnerships in place, they're a channel partner agreements.

Speaker 3: with Garrett Kelly and Icky Guy, both of which are executing and executed contracts and executing business. So both of those are underway.

With Gary Kelly in they can guide both of which executed and executed contracts and executing business right. So both of those are underway.

Speaker 3: We think the next phase of partnerships will come into the PFAS solution on our AEC. And at the same time, we're organically growing in a very dynamic way.

The next phase of partnerships come into the <unk> solution on our AC and at the same time, we're organically growing in a very dynamic way. So yeah I would say this is probably the most confident.

Speaker 5: So, yeah, I would say this is probably the most confident.

Speaker 3: Intense, wonderful, exciting opportunity in the history of the company because we're watching it all come true. And it's a great time to be involved. So again, take a deep dive, reach out to management. We do have our annual stockholders meeting on June 2nd.

Intense wonderful.

Exciting opportunity in the history of the company because we're watching it all come true.

And it's a great time to be involved so.

And take a deep dive reach out to management.

We do have our annual stockholders meeting on June 2nd.

Speaker 5: at 10 a.m. in Westminster at our corporate office. Anybody local or distant wants to come, we would love to see you, and shake hands and connect, and I've got good news to share, all right?

10, a M in Westminster at our corporate office anybody in local are distant wants to come we would love to see you and shake hands and connect and we've got good news to share right.

Thank you very much.

Speaker 1: Thank you, ladies and gentlemen. This does conclude today's conference call. You may now disconnect your phone lines and have a wonderful day. Thank you for your participation.

Thank you ladies and gentlemen, this does conclude today's conference call. You may now disconnect your phone lines and have a wonderful day. Thank you for your participation.

Yeah.