Q4 2024 Moolec Science SA Earnings Call
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Yes.
Yeah.
Speaker Change: Good morning, and welcome to the <unk> Sciences fourth quarter full fiscal year 2024 conference call.
Speaker Change: As Bill noted.
Speaker Change: Strategic indications in Missouri.
Speaker Change: This conference call all participants will be muted until after.
Speaker Change: Management's remarks, when there will be a question and answer session.
Please also note today's session and you report.
Milliken: Hey, Milliken, our fourth quarter and full fiscal year 2020 for business highlights.
The document is now available on the company's Investor Relations website at IR, Doc <unk> Science Dot com.
Speaker Change: This morning, you will hear from gas Stone <unk>, Chief Executive Officer, and co founder of <unk> Science together with Jose Lopez.
Speaker Change: Chief Financial Officer, and <unk>, Chief Science Officer.
Speaker Change: During the Q&A session, we'll be joined by Martin Salinas, Chief Technology Officer.
Speaker Change: In today's call, we will be referring to a presentation that will be later available on the company's investor Relations website.
Speaker Change: Moving to slide two this conference call is mainly for informational purposes and during this call. The company will be making forward looking statements regarding future events and results, which are not historical facts and include but are not limited to statements about the company's beliefs and expectations forward.
Speaker Change: We're looking statements involve inherent risks and uncertainties further information regarding these and other risks are included in the company's annual report on form 20-F filed with the SEC also available on the company's Investor Relations website now moving to slide three I would like to turn the call over to <unk> CEO <unk>. Please go ahead.
Speaker Change: Thank you Bill.
Speaker Change: Good morning to everyone.
Speaker Change: Once again.
Speaker Change: <unk>.
Speaker Change: The corresponding annual review for our company.
Speaker Change: Today's agenda will address three main topics.
I just mentioned we will firstly, we viewed the mayor of milestones we have achieved during the fiscal year of 2024.
Speaker Change: Secondly morning, Chief Financial Officer will walk you through the financial overview.
Speaker Change: And last but not least we will like to share with you.
Speaker Change: Your thoughts on what we expect for fiscal year 2025.
Speaker Change: Let's move now to the next slide.
Speaker Change: We would make that the main message that morning, FEMA G. During fiscal year 2024.
Speaker Change: Turn with me now.
Speaker Change: Five.
Speaker Change: What a phenomenal year at <unk>.
Speaker Change: That's helped scientific developments.
Speaker Change: These operations are relevant to achievements our team has been leading to deliver milestone after milestone and continues to fire up on all fronts.
The neighborhood on all pillars, we have the commerce, adding sanction of our science based products using molecular in front of the technology. Shortly on the rifle built upon the many efforts over the last year.
Speaker Change: From the setting up of <unk>, South pole molecular biology that in the U S.
Speaker Change: The stabilization of animal protein expression levels in <unk> products as well as receiving USDA approval for BV sorry.
Speaker Change: Wi Fi in Glasgow proud of for commercialization for trial production in securing farmland.
Speaker Change: <unk>.
Speaker Change: Increasing <unk> in three U S location.
Speaker Change: <unk> has shown exceptional execution.
Speaker Change: To provide more details of this achievement during fiscal year 2004, I would like to hand things over to Dean <unk>, Our Chief Science Officer Amit.
Speaker Change: Overdue.
Amit: Thank you Russell I'm excited to share the significant accomplishments <unk> form a team or this fiscal year.
Speaker Change: In the first quarter of fiscal year 2024, we successfully set up our fully owned plasma molecular biology love, the new Labs and College station, Texas.
Speaker Change: Overlap became fully operational in Q1 FY 2024.
Speaker Change: When we saw our plug in particular farming team that's focused on the molecular characterization of the cross Gen and convince Florida, where target products.
Speaker Change: Conducting a significant portion of our planned barrels your R&D projects in house versus third party labs helped us centralize and streamline the process.
Speaker Change: At first lieutenant faster implementation of decisions, ensuring the highest quality control standards.
Speaker Change: Prove the timeliness and quality of work, while generating cost savings.
Speaker Change: Also during the first quarter, we achieved significant results and the continued development of <unk> soy product.
Speaker Change: During the first quarter, we harvested and analyzed.
Speaker Change: <unk>.
Speaker Change: Or T three cryogenic events by cooler.
Speaker Change: Consistent with the pardon the expression values.
Speaker Change: The animal protein or myoglobin reached up to 12% in Detroit.
Speaker Change: Previously, we had absorbed expression levels of up to 25%.
Speaker Change: Of the total soluble protein and <unk>.
Speaker Change: Overall, what we have observed is that the progression of the animal protein has stabilized across three generation, which is very exciting.
Speaker Change: Onto the second half of the year.
Speaker Change: This business update marks a crucial moment for monarch in the third quarter, we announced a ground breaking milestone.
Speaker Change: The first ever approval from USDA APHIS breaking move look the first company in our industry.
Speaker Change: To achieve such a regulatory breakthrough this achievement exemplifies our commitment to harnessing the power of flats.
Speaker Change: Through cutting edge science addressing critical challenges like climate change and global food security.
Speaker Change: For those new to our journey.
Speaker Change: <unk> has developed a unique patentable soybean platform technology under the Fe Tomorrow, maybe four.
Speaker Change: Our dedicated scientific team has achieved remarkable results.
Speaker Change: Expressing a meat proteins in soybeans with <unk>.
Speaker Change: <unk> protein levels, reaching up to 25% of total soluble protein in the seats.
Speaker Change: With this approval fuels.
Speaker Change: USDA APHIS RSR has determined that <unk> poses no greater plant best risk than non engineered soybeans.
Speaker Change: Allowing us to trust Bogan distribute this product with individual <unk> permits.
Speaker Change: This significantly accelerates logistics and reduces costs, while ensuring full compliance with U S regulations.
Speaker Change: Given <unk> a distinct advantage in the market.
Speaker Change: Also in the third quarter, we carried out our trial for our downstream production of bustle.
Speaker Change: With our industrial partner in Iowa, as we optimized processed and produce a few tons of material to fine tune the process.
Speaker Change: In the fourth quarter, we began planting after successfully contracting 600 acres with key growers to produce glaceau seeds for crushing.
Speaker Change: Additionally, we contracted 60 more acres for seed production.
Speaker Change: Aiming to U 200 to 400 tons of SaaS slower.
Speaker Change: This product has multiple customers, including a major client.
Speaker Change: As previously announced with monarch, signing an off take agreement with a leading global CPG company.
Speaker Change: In addition biggest soy field trials are commenced in Ohio, Missouri in Iowa in order to increase seeds for scale up and sampling for customers.
Speaker Change: To collect environmental and regulatory data as we work on the U S FDA approvals.
Speaker Change: Now I'd like to turn the presentation over to my colleague Jose for the financial overview part of the presentation.
Speaker Change: You very much for your client retention.
Jose Lopez: Thank you Amit and good morning to everyone.
Speaker Change: Pleased to be providing the Iowa business update the morning.
Speaker Change: For the fiscal year 2012 before.
Jose Lopez: I would like to address our highlights with regards to revenues cost of sales expenses and cash utilization.
Speaker Change: Please keep in mind that all figures mentioned today are U S dollars.
Speaker Change: Politics, amazed or the right from IRS unless otherwise stated.
Speaker Change: Let's move on now to slide nine.
Speaker Change: During fiscal year 2020 for normalized revenues another income, excluding Ias 29 increased $4 $8 million year over year from approximately $1 million and 22.
Speaker Change: 33 to $5 $8 million in each of these before.
Speaker Change: This increase was due to the consolidation of the soy protein ingredient business, which occurred in April 2023.
Speaker Change: Normalized cost of sales increased as well on a year over year basis from close to $1 million 33 to $4 $5 million in 2024.
Speaker Change: This was in line with our revenue growth, resulting in aggregate gross margin of around four.
Speaker Change: On the expenses front SG&A R&D increase.
Speaker Change: <unk> increased $3 $1 billion from $6 $2 million in 2023 to $9 $3 million in 2024.
Speaker Change: This increase in expenses is mainly related to non cash items, such as depreciation amortization and equity incentives as well as the consolidation of the soy ingredient business.
Speaker Change: In terms of cash used in operating activities cash utilization has increased $1 $8 million from $7, five and 2033 to $9 $3 million in 2024.
Speaker Change: In particular during 2024 and approximately $4 million was destined to lower accounts payable mainly related to our structural cost during 2023.
Speaker Change: Finally, our cash position of approximately $5 $4 million as of Q4 2024 has been complemented with the purchase of 15000 tonnes of HD for soybean, which have strategic value formula in terms of <unk>.
Speaker Change: <unk> alignment traceability.
Speaker Change: Raw material procurement stability.
Speaker Change: The purchase of 84, sorry has been executed through the issuance of the convertible notes to buyers.
Speaker Change: Covers our projected robots and needs.
Speaker Change: Our soy protein ingredient business.
Speaker Change: Approximately December 25.
Speaker Change: We are very pleased with <unk> continues to deliver significant milestones.
Speaker Change: We aim to bayou, while maintaining an adequate corporate structure and a cost efficient tonnage.
Speaker Change: I will now turn things back to 1000.
Speaker Change: Against intermodal X fiscal year 2025.
Don: Don over to you.
Don: Thanks, Jose looking forward to fiscal year 'twenty five we believe this is going to be a pivotal year for <unk>.
Speaker Change: Turn with me to the next slide.
Speaker Change: In terms of commercialization traction in 2025.
We expect to see commercialization of our new science based ingredient begin to take off.
Speaker Change: With our already established traction in.
Speaker Change: Excellent joint pricing generation revenue, we are hunting.
Speaker Change: Our operational expertise in launching our new products.
Speaker Change: With lesser which will harvest in October and is targeted to generate new revenues for marlin in the upcoming fiscal year.
Speaker Change: <unk> will be a strategic commercialized focus for us traction by the site R&D collaboration agreement button with the purpose of working together on the development of <unk>.
I am super productivity for specific applications or market.
Speaker Change: Well I think commitment from the offtake agreement with the major global CPG company.
Speaker Change: At this time, we are actively engaging in conversations with prospective understand clients, providing samples of the different products in our pipeline.
Speaker Change: We are looking at all fronts of business income strengths, including the licensing of our proprietary technology for use in your markets.
Speaker Change: In terms of operational focus for 2025, we will continue to fine tune operations to enhance our upstream and downstream yields as well as ensure that highest quality for our products following our identity preservation program and implement.
The best stewardship practices for all our routes we are going to step by step in each process to make sure. We provide only the best at the same time, we will continue scaling up our seat inventory. So we can prepare for the different uses of our sheets.
Speaker Change: From a processing plant.
Speaker Change: As we invest our time and all of these activities in preparing for both.
Speaker Change: We are still very committed to being careful to evaluate all our spendings.
Speaker Change: Managing the cost.
Speaker Change: Looking into different metal.
Speaker Change: Improve our cost efficiency.
Speaker Change: We like our LTC.
Speaker Change: And the last point in this section, but one that is extremely critical to our operation.
Is our deliberate focus on making meaningful progress on the regulatory pathway.
Speaker Change: We are actively performing I'm personally invented on process.
Approval from the different regulatory agencies.
Speaker Change: With regards to RMB umbrella development. This continues to be a core component of mortgage basis.
Speaker Change: We plan to add new projects to the innovation pipeline with new proteins and whatever approach of development as current existing development and enter the commercialization stage.
Speaker Change: Product development will continue during fiscal year 2025 in conjunction with the close communication and collaboration with partners and customers to ensure their marketability of our products in the pipe.
Speaker Change: And lastly in fiscal year 2025, we are consolidating our team.
Speaker Change: In order to optimize our what efficiency, we are consolidating effort strategically.
The company will be establishing a new operational base in the U S. So that we can strengthen our teams' collaboration and communication and then help our overall efficiency.
Secondly, with the coming new product commercialization, we need to expand our sales our marketing efforts.
Speaker Change: With this we are methodically expanding the team to capture these market opportunities.
In addition, the company will promote expanded visibility and presence in the industry by sending team members to present, a network at food pet food and supplement industry shows and conferences, let's now move on the next and final slide.
As we look forward to the exciting developments in 2025.
Speaker Change: I am confident that our strategic initiatives will drive growth and value for all our stakeholders.
Speaker Change: Now I would like to open the floor to your questions and hear your thoughts. So I will now turn things over to bill for the <unk>.
Bill: And a portion of our call.
Bill: Thank you very very much.
Speaker Change: Thank you guys gone at this time, Merck's management gas down Jose and Amit as well as <unk>.
Speaker Change: <unk> Chief of Technology, Martin Salinas, who will be taking questions.
You also submit questions through the Q&A chat box by submitting your name and firm and a chat to typing your question.
Speaker Change: Please be advised that we will ask you to a mute your line to ask your question lives. We ask those that would like to participate in the Q&A. If your name and firm is not indicated in your profile. Please submit your name and firm in the Q&A box before asking the question.
Speaker Change: Again, you may submit your questions through the Q&A chat box.
Speaker Change: Okay.
Speaker Change: Okay before we take questions from the live <unk>, we have received a few questions via email.
Speaker Change: The first question is this quarter you highlighted an offtake agreement for Glaxo with a major.
Speaker Change: Global CPG company to enter the U S market probably 25.
Speaker Change: Can you provide more details on this collaboration what efforts have both parties made and what is the estimated scale and expected revenue generation in 2025.
Speaker Change: Well. Thank you so much thank you for the question.
Leave the floor to Scott <unk>. After this question because I saw he raised his hand before.
Speaker Change: Well. Thank you for the question and thank you for being a team with morning.
Speaker Change: Great question, because we have.
Scott: We're excited about this.
Speaker Change: The offtake agreement.
Speaker Change: Of our first molecular finding products less so in the United States, we are excited because.
Speaker Change: Say a couple of reasons the first one because it's a male global CPG company, we comfortably in the name of appointment knee, but because it's Friday.
Speaker Change: Because a huge but it's very well known brand name worldwide.
Speaker Change: With our mayor operation the states.
Speaker Change: No.
Speaker Change: That's the main reason second good reason is that.
Speaker Change: We are extremely happy about this is that.
Speaker Change: Well it is.
Speaker Change: <unk> delivering.
Speaker Change: Mike.
Speaker Change: We.
Speaker Change: Stockholder value as we only have the.
Speaker Change: The U S market to be the first market to launch our.
Speaker Change: Our technology our doubtful.
Speaker Change: Farming.
Speaker Change: I know this is kind of two wheels.
Speaker Change: Because it will be landed in the U S commercially.
Speaker Change: And third as is because these companies are signing 2025 calendar year.
Speaker Change: We always.
Speaker Change: The timing in our internal plans <unk> delivering.
Speaker Change: Uh huh.
Speaker Change: This is a group is contract does have proof of that.
Speaker Change: Going back to the question.
Speaker Change: Yeah.
Speaker Change: I want to highlight before go into to my theme.
On an intent to cassette I want to highlight.
Speaker Change: But this is not a one year contract is a three year contract.
Speaker Change: With the possibility to expand it.
Speaker Change: So we see this.
Speaker Change: Not only relevant for the landing and the.
Speaker Change: And through that.
Speaker Change: The starting point is sold so and only go in relationships with these major customers. So.
Speaker Change: I'll wait till now to Martin Salinas, Our technology officer is leading the separation of <unk>.
And he can give more color about the volumes.
Speaker Change: And the traction of the crops in the production of the product.
Speaker Change: Afterwards, <unk> will give some indications of.
Oh, the collect part of.
Martin Salinas: Revenue then yes brand new revenue stream that is opening now Martin.
Martin Salinas: Okay.
Speaker Change: Thank you Augusta on as Amit mentioned, we currently shop more than 600 acres planted.
Speaker Change: In Idaho, and the American Falls area.
Speaker Change: Mostly will be used as grain progression purpose, but we also have our feedstock plans as it was.
Speaker Change: To get the production next year the following seasonal so we're close to the cargo side, we actually know what our final deal, but we are expecting yields in the similar range is that last year around 1400 calls per acre.
Speaker Change: And as we should at least.
Speaker Change: A range between $50 million of scope GLA.
Speaker Change: Produce for the FERC.
Mostly dedicated to the offtake agreement that got you mentioned.
Speaker Change: Okay.
Martin Salinas: Thank you Martin.
Speaker Change: Sure. Thanks, Scott So look in terms of revenues.
Speaker Change: We have had a revenue stream, which is the soy protein ingredient business.
Speaker Change: Each has produced revenues in the range of $6 million. These are totally 2000 for fiscal year.
Speaker Change: And we believe for the Hyster isn't the 25.
Speaker Change: $6 million of revenue so it's a pretty good indication of how the business grew both could grow gradually in terms of the soy protein into their business.
However, we are very pleased with the introduction of colossal second revenue stream for <unk>.
Speaker Change: With our expectations.
Speaker Change: For this product in.
Speaker Change: In the medium term, we expect losses to participate as incremental revenue.
Speaker Change: Yesterday, <unk> five with a range of around 15%.
Speaker Change: Total revenue of at least eight years and 35.
Speaker Change: Having said that as a potential that we have a three year contract with a major CPG company, we would expect that.
Speaker Change: Cause I want to provide a base demand book lessor.
Speaker Change: And as time goes by.
Speaker Change: As we move on to study with only 26 equity settled we would expect to Glasgow to become.
Speaker Change: A more important part of the overall total revenue and how the highest RBC ratio and the total revenue and was up.
Speaker Change: Good hopes in terms of.
How much that is.
This growth.
Speaker Change: And to increase our motives revenues.
Speaker Change: In the short term and the medium term.
Speaker Change: Yeah.
Speaker Change: In the long term.
Thank you Jose Okay, let's move on thank you.
Speaker Change: Alright. Thank you. The second question is you mentioned signing an R&D collaboration agreement with <unk> to develop sapphire.
Speaker Change: Sapphire varieties aimed at improving productivity for specific applications and markets can you share more details about this partnership and the business opportunities from this are there any notable notable developments I'd like to highlight.
Thank you well I can't wait to talk about bank agreement, but I won't reflect gold mine to go to Scott.
Speaker Change: Because the license can be for Scott.
Speaker Change: Two on the mute yourself.
Speaker Change: I'll make a question.
Speaker Change: Yes, Sir we got it thank you.
Speaker Change: Good morning.
Speaker Change: Congratulations on your milestones and regulatory approvals achieved in fiscal year 'twenty four but just wanted to dig a little bit more into the commercialization and kind of expansion here.
Speaker Change: Do we know kind of where the end market is this for supplements or mainly targeted for pet foods with the CGP.
Speaker Change: Company <unk>.
Speaker Change: And you have initial tons about 50.
Speaker Change: Tons from that standpoint, and just kind of follow on that your harvest is expected to produce about 300 to 400 tons of SAP R C and what amount of that.
We will equal in volume in tonnes and that you're expecting for 2026, just kind of want get a sense for the ramp up into 2006 with the volume.
Speaker Change: Expectation and how much of that will go to a minimum.
Speaker Change: CPG partners that'd be great.
Speaker Change: Matt.
Speaker Change: Sure well thank you.
Speaker Change: Thanks, so much Scott.
Welcome to the call.
Speaker Change: Now let.
Speaker Change: Let me.
Speaker Change: And let me frame.
Speaker Change: Is way up.
Vessel applications.
Speaker Change: <unk>.
Speaker Change: Dietary supplements.
Speaker Change: Nutritional beverage infant formulas.
Speaker Change: Andy myself <unk>.
Speaker Change: That is included in that 90 miles helped in some way.
Speaker Change: And some and some others in place.
Speaker Change: Please.
Don't hesitate to step in Martini with you Amit if I'm mixing missing one.
Speaker Change: <unk> application, but that are the main ones.
Speaker Change: We are in conversation with.
Speaker Change: Several different potential customers or different for all of these different application.
Speaker Change: Currently in.
Speaker Change: Supplementation because.
Speaker Change: One of the competitive advantage that plateau half.
Speaker Change: With the established.
Speaker Change: And normal products that provide GLA oil in the market the concentration.
Speaker Change: Plateau.
Speaker Change: Three times more.
Speaker Change: <unk>.
Speaker Change: Comparator that we then natural.
Speaker Change: And Karen.
Once in the market.
So the entire supplementation market is very relevant and stuff.
Speaker Change: Okay.
Speaker Change: Offtake agreement with the CPG company, that's application needs for pet food.
Speaker Change: But this is a volume.
Speaker Change: It is a volume on our high value player.
Speaker Change: Yes.
Speaker Change: Top brands in the World.
Speaker Change: We are in good shape of conversations with other potential customer for other applications.
In terms of quantity volume and then scale up on them.
Speaker Change: Production.
Speaker Change: That six well that's harvest will will.
Speaker Change: And we'll change too.
Speaker Change: To produce around between 50 to 70 tons.
Speaker Change: We are expecting around around 60 tons 50 around 50 will be or.
Speaker Change: These contracts commercial contracts.
Speaker Change: And and the rest would be for other customers and other applications.
Speaker Change: We still we still need to wait for.
Speaker Change: Let's say a couple of weeks to harvest.
Speaker Change: Slowly see the yields.
Speaker Change: And start planning their production.
Speaker Change: At the end of the month I'm talking actually as we speak now October this is happening as we speak.
Speaker Change: So we will probably have the specific yields.
Speaker Change: From the lung and also from the factory.
Speaker Change: By November or so.
Speaker Change: We're excited because this is somewhat aqua farming product.
This is as far as well.
Speaker Change: So thank you for the question.
Speaker Change: No my theme of dynamic you want to add something on top of what type of just that.
Speaker Change: Yes.
Speaker Change: A quick summary of Apis Offtake agreement and Scott.
Speaker Change: No I appreciate I guess a follow on your discussions with other you mentioned other companies what are how far long are those discussions kind of expectations for potentially adding more in this year and then kind of what their sampling what is what needs to come across more than it had before.
Speaker Change: If you could just kind of.
Speaker Change: And the idea of where that pipeline is and potentially.
Adding on that for you.
Speaker Change: Wow.
Speaker Change: I am quite confident to say that we're going to sell coal production.
Speaker Change: I'm pretty sure.
Speaker Change: I think we could sell more if we have more material but.
Speaker Change: Ultimately, we need to wait to.
Speaker Change: So by already thanks.
Speaker Change: So this is the first commercial campaign, we are hitting the market great contract rate players.
Speaker Change: And we're starting point, but we need to multiply sees as my team described before we are serving.
Speaker Change: A part of that production farm application of <unk> to scale up this campaign.
Speaker Change: For the next year.
Speaker Change: So we are we are actually planning our following commercial campaign.
Speaker Change: We'll have more flexibility there.
Speaker Change:
Speaker Change: And I think that that we are we need to call our horses and not sell absolutely Paul.
Speaker Change: The balance of the campaign to reserve some of them.
Speaker Change: Of that new freshmen for something.
Speaker Change: To expand that commercialization networks.
Speaker Change: So.
Speaker Change: Sorry.
Speaker Change: Listen Fayetteville, Boston consolidate their relationships with new customers by sending fresh samples right away. So that's that's the plan overall.
Speaker Change: We're looking forward to to grow the business next year, but.
Speaker Change: At least as of now.
Speaker Change: Hum.
Speaker Change: It's pretty eye opening for me.
Speaker Change: Got it and last one for me.
Speaker Change: R&D collaboration with <unk>, which is which is great but.
Speaker Change: Just kind of remind us step us through you know obviously, you've got the USDA or that's the on the on the Piggy suicide.
As our results here and we will find out more in October those results from the field trials and since you mentioned that 20% range, but just step us through we're still on track for commercialization of that in 2728 here and just the key milestones you have to hit leading up to 2017.
Speaker Change: For next year do that on the <unk>.
Speaker Change: Sure Great question.
Speaker Change: We are the way, we announced I think lesson month at Kohl's.
Speaker Change: We will be harvesting.
Speaker Change: Both groups October this year.
Speaker Change: That's helpful production or.
Speaker Change: Our commercial purposes.
Speaker Change: <unk> soy.
Speaker Change: For a couple of a couple of purposes. The first one is to gather information to the FDA.
Speaker Change: Yes, Scott, it's true we need to gather information not only for one place for.
Our BB friendly location Thats why we farm.
Speaker Change: In Saudi.
Ohio, and Iowa, three different locations in print and pretty different latitudes in the states. We will gather the information for the FDA, we are in conversations with regulators.
Speaker Change: Things are moving nicely.
Speaker Change: Need to fulfill it.
Speaker Change: <unk> here.
Speaker Change: And we know how to navigate the regulatory fronts with our regulatory team.
Speaker Change: We are not envisioning.
Speaker Change: Envisioning any delay so everything is on track.
Speaker Change: And the plants are beautiful beautiful.
Speaker Change: And bite off and soda.
Speaker Change: The stakeholders.
Three different locations for the heart because the banks are very very nice so let's see how that goes we.
Speaker Change: We are.
Speaker Change: We are excited about this.
Speaker Change: Historical moment of planting of harvesting, let's say 18 months from the U S soil fully appropriate from the USDA.
Speaker Change: So in terms of commercial.
Efforts for BD soy.
Speaker Change: The second reason why.
Speaker Change: We will move forward with the field trials over the regulatory information for the FDA.
Speaker Change: To gather also.
Speaker Change: And fresh my PDL for some.
I want to remember here that while it is a science based ingredient company and ingredient sector the ingredient business our E series.
Speaker Change: It's not it's.
Speaker Change: It's not easy but this.
Speaker Change: This is very various thunder.
Speaker Change: What do you need to do.
Speaker Change: Yes.
Speaker Change: Get samples.
Speaker Change: <unk>.
Speaker Change: And to build a relationship with.
Speaker Change: With the new star and ingredient business too.
Speaker Change: And prototyping.
Speaker Change: So we will gather samples from the farm directly fresh material, we will recover proteins.
Speaker Change: We will send that samples.
Speaker Change: Right away, we are in conversations with <unk>.
Several different potential players in customer for you saw they are all very interesting.
Speaker Change: Proving our let's say testing in their own recipes in their own labs and in their own facilities.
Speaker Change: These ingredients with health beds in so many ways.
Speaker Change: So.
Speaker Change: That's that.
Speaker Change: The second visa and the third reason.
Speaker Change: Of these field trials for <unk> in the United States is to honor.
Speaker Change: Alive until finished AR.
Speaker Change: The date of the RMT if stage the development product development.
Speaker Change: And I will leave the floor to wanting to.
Speaker Change: Just a little bit to explain that.
Speaker Change: The different events that are planted in the in the field because we need to start analyzing.
Speaker Change: Franchisees events and plant performance I'll start crossing that information to a self selecting the champion events that would be the champion receipts will be.
Speaker Change: Monthly in the future.
Speaker Change: Between the two.
To hit the market in 2007 2028.
Speaker Change: I want to reinforce that.
Speaker Change: But.
Speaker Change: Timeline.
Speaker Change: So I doubt you want to add.
Speaker Change: Or Colorado.
Speaker Change: About the about the science in the field.
Speaker Change: Yes. Thank you guys and thanks for the question as well as you. All know you saw it has been.
Speaker Change: <unk> traded back we can express animal proteins to a very high level and store it in the seed.
Some of the plant, which is really what is the.
Speaker Change: Product and we're going to be <unk>.
Speaker Change: Utilizing so as we're doing these field trials in different locations.
Speaker Change: Okay.
Speaker Change: I was wondering.
Speaker Change: Fourth generation, what the levels of this protein are going to be large.
Speaker Change: <unk> technology.
Speaker Change: Which has primarily been regulatory elements that allow us to express this protein in a very high level is really being tested out.
Speaker Change: Initially spoke during the update.
Speaker Change #100: We're seeing 20%.
Speaker Change #100: Total soluble protein being consistent through the current generation, which is a very important milestone in any transgenic technology event and as we are doing these field trials, we will be harvesting them alone.
Which will all SKU.
Speaker Change #100: Valuations.
Speaker Change #100: No one is really on.
Speaker Change #100: Hum.
Speaker Change #100: Production and we will take it from there and this is the platform. We also wanted to utilize for other ingredients.
Speaker Change #100: Ingredients or other proteins or other molecules that we that are desirable in the market as well so very exciting what we're doing with this.
Speaker Change #100: We are expanding our reach to a commodity groups as well as soybean related commodity groups to keep them involved.
Speaker Change #100: As we are developing this product so as I've discussed on invited stakeholders too.
Sure.
Speaker Change #100: So some of these are trials.
Speaker Change #100: Just to see what we have really been bumping that we're sure so really exciting times for us and so far infections and we continue to the scientist we continue to develop our concepts further and expand to other molecules as needed would be bioplastics it could be any other.
Speaker Change #101: Pharmaceutical ingredients et cetera. So thank you very much got swung back to you.
Speaker Change #102: Thank you Amit Okay, let's move on thank you so much Scott.
Speaker Change #102: Thank you.
Speaker Change #102: Alright.
Speaker Change #104: We have an online question from Anthony <unk> of <unk>.
Speaker Change #105: <unk> I'm going to read them.
Speaker Change #106: Have you signed any additional commercial uptake agreements for Glaxo, if not do you expect any by the end of 244 what percent is accounted for.
Speaker Change #107: Well, thank you Anthony and I will not forget about answering the bundling question was online before.
Speaker Change #107: <unk>, but I want to.
Speaker Change #108: I'd like to say hi to Anthony Anthony Thank you for joining us today and thank you for the question.
Speaker Change #109: We do not have any other offtake agreement signing yet.
Speaker Change #110: <unk> for the short term will not be necessary it would be just invoicing and confidential license directly.
Speaker Change #111: Spot sales.
<unk>.
Speaker Change #111: This campaign.
Speaker Change #111: We're envisioning too.
You have.
Speaker Change #111: <unk> agreements for the following campaign so that.
Speaker Change #111: Who knows how it would be before the year end or.
Speaker Change #111: Next year, we have time for that we are in good conversations with other customers.
Speaker Change #112: I'll take that.
Speaker Change #112: Okay.
Speaker Change #112: But apparel.
Speaker Change #112: Timing on awareness, we are hitting the market now so.
<unk> one <unk>.
Speaker Change #113: <unk> new.
Speaker Change #113: New in the market.
Speaker Change #113: We're planning to.
Speaker Change #113: So some.
Speaker Change #113: Food.
Speaker Change #114: And animal health shows.
Speaker Change #114: Sal dietary supplement shows next year, so we'll make some marketing for the product.
Speaker Change #114: So we.
Speaker Change #114:
Speaker Change #114: I'm really optimistic of.
Speaker Change #114: The traction of these products.
Speaker Change #115: For for next year, and I'm really looking forward to continually signing offtake agreement for the upcoming campaigns.
Speaker Change #115: <unk>.
Speaker Change #116: Going back to the question I want to answer it fully.
Speaker Change #116: What percentage of yield is accounted for.
Marty: I want to touch all of these question Marty.
Speaker Change #116: Okay.
Marty: Yes, yes. So thank you for the question Jeremy.
Speaker Change #116: No.
Speaker Change #116:
Speaker Change #118: I'm trying to understand what exactly the yield that you are putting together.
Speaker Change #119: That's all for the pulse break ourselves beyond that we can recover out of a total for each E checks.
Speaker Change #119: And I will both talk about yes, yes, yes.
Speaker Change #120: Nevertheless, the year that we are expecting yield lower yeah, So Rob I will say both foundries towards <unk>.
Speaker Change #120: Oscar acre, we achieved last year in the range of 16 countries.
Speaker Change #120: Most of them will succeed inquiries that we've done last year compared to the software.
Speaker Change #120: Let's say, it's our very first commercial system.
Speaker Change #121: We expect kind of the same in yield.
Speaker Change #122: In that so.
Speaker Change #123: How much volume we can recover out of that is highly beds all along the production stopped.
Speaker Change #123: Oh the <unk>.
Speaker Change #123: Crushing facility that we are you'll see them. So in that sense, we have been working and locks. The last few months on optimizing that processing I think after mention.
Some of that during the presentation. So these particular trades off our G&A cost and reduced amount of or total oilfield Virtu was dark chocolate hour. So we expect extract showing the range of 15% to 20%.
Speaker Change #123: Okay.
Speaker Change #123: So thats picking up from.
Speaker Change #125: Sorry, you said total load right, let's say.
Speaker Change #126: Out of that we can expect maybe 80%.
Speaker Change #126: Recovery.
Speaker Change #127: The yield that we are expecting very soon to be fully determined.
Speaker Change #126: Yeah.
Speaker Change #126: Great.
This is happening as we speak as I said before thank you so much mark being okay, let's move on thanks Anthony.
Speaker Change #128: Okay, we can move on to that my previous question.
Mentioned Friday, R&D collaboration with bogey to develop sapphire varieties aimed at improving productivity for specific applications and markets can you share more details about this partnership and the business opportunities from this are there any notable developments you'd like to highlight.
Yeah, well I remember the question. Thank you for that.
Speaker Change #129: We are very excited about being close to <unk> now with these R&D collaboration agreement with them.
Speaker Change #130: As you all surely no <unk> one of the a B C D.
Speaker Change #130: Companies in NOLA.
Speaker Change #131: They set for dominance our cartridge trading worldwide to weather with ADM, causing that Dreyfus. So.
Speaker Change #132: So it is a nano process.
Speaker Change #132: As a young woman to be close to these.
Speaker Change #132: Our major player.
Speaker Change #133: Specifically about the RMP Corporation or <unk>.
Springs, our first.
Speaker Change #133: Our soft flour platform that include that's that's part of our our Glassell.
Speaker Change #133: And <unk>.
Speaker Change #133: And some other new developments.
Speaker Change #133: Safflower.
Speaker Change #133: Safflower paths as well so.
Speaker Change #133: I will leave the floor to Abbott first.
Speaker Change #133: Fully explain the importance of genetics in the upstream.
Abbott: So as to improve on.
Speaker Change #133: Our backs.
Speaker Change #133: <unk> and <unk>.
Speaker Change #133: I'm focused on.
Speaker Change #133: Bleeding.
Speaker Change #133: It is in the field. This is high level, nor is it very important to understand yields in the fields.
Speaker Change #133: And to focus on science and genetics.
Speaker Change #135: And then I think we'll give more color in terms of the specific trades that we are working I want to highlight that.
Speaker Change #135: <unk> is focusing on safflower for Biofuels application more likely is focusing on supply at the bioreactor platform a meaningful small.
Speaker Change #135: Factories tool.
Speaker Change #135: <unk> produced glass and new products in the pipeline, but both share.
Speaker Change #135: The upstream.
And part of the value chain.
Speaker Change #135: No.
Speaker Change #135: So.
Speaker Change #136: Okay, I will put the pulse now display.
Speaker Change #137: Display the beach side can you just check the trade cycle.
Speaker Change #137: Thank you <unk> I would say that.
Speaker Change #139: What we produced water transgenic lines, we produced we select our champion events.
Speaker Change #139: Which has the highest level of expression and agronomic performance, but as new breeding lines are being generated which are either.
Speaker Change #139: Have other traits for example, they can perform better.
Speaker Change #139: Grew more quickly in different geographies.
Speaker Change #139: Under different climatic conditions. So we can in progress or do make crosses between these plants go back traditional breathing and take these creates that we've developed in our mines and move them into the <unk>.
Speaker Change #139: Desirable genetic backgrounds, so that we can produce.
Speaker Change #139: Product.
Speaker Change #139: And the larger scale more efficiently with less inputs and one of the biggest things is that genetics breeding.
Speaker Change #139: <unk> continued to be enhanced.
Speaker Change #139: And we have the opportunity through these partnerships.
Speaker Change #139: Where we can cut.
Speaker Change #139: Capitalized on the new genetics that is coming towards my.
Speaker Change #139: <unk> bees.
Speaker Change #139: Breathing.
Speaker Change #139: So I wanted to say that we have on our term loan.
Speaker Change #139: That's where we kind of characterize all these very rapidly.
Speaker Change #139: M B, a robotics that are available to us we were able to really.
Speaker Change #140: Fast track how are you doing.
Speaker Change #140: Defecation progeny or products that come out of those crosses that can then be deployed in the past we mentioned about global scale potential of our technology and I think this is we're combining what we developed best initial craigs.
Speaker Change #140: The breeding pipelines.
Speaker Change #140: There's some different crops, especially in this case, where we can really reduce this anywhere in the world.
Speaker Change #140: Thank you over to Marty.
Marty: Yes, yes, yes.
Marty: Basically the yield that I mentioned suffered our.
Marty: So I'll start with G&A, the United stay around there.
Speaker Change #141: 14% to 15 countries quite a great yield.
Speaker Change #142: Please stay on Asia, you said, what you're seeing since day, one by the way.
Speaker Change #141: Yes.
Speaker Change #141: With the commercial and so many others.
Speaker Change #141: In the solid chemosphere, particularly in countries like Argentina.
Speaker Change #143: Good so our main goal is to evaluate test and develop new lines that are basically add up to that at all.
Optimized in terms of the year.
VP for different therapies other territories.
Speaker Change #144: But in the United States for us to increase our potential opportunities to expand that technology to other territories.
Speaker Change #144: That's S us Amit <unk> with anti filed with Sotheby's optimized line for other territories. We're gonna start the integration process, where we can introduce our traits into new germplasm varieties.
Speaker Change #144: Thank you.
Speaker Change #145: Thank you mark being very clear.
Speaker Change #145: And thank you for the question on the App.
Speaker Change #145: I want to I want to add on top of that it's all.
Speaker Change #147: Going to the next question I think it would be iron question.
Speaker Change #147: That.
Speaker Change #147: Yes.
Opportunity for more of that.
Speaker Change #147: Being close to <unk> because of muscle.
Speaker Change #147: The only because of supply is because of all of our soy.
Speaker Change #147: Soybean as well.
Speaker Change #147: We have had linked conversation about soybean in the future. So let's see how that goes.
We are focusing a pause of delivering our commitments with bundling in terms of soft flowered upstream but.
Speaker Change #148: As I said before and noise.
Speaker Change #149: Maybe one step.
Speaker Change #149: For the full steam.
Speaker Change #150: The new potential collaborations in the future with these major companies so let's move on well. Thanks for the question again, Okay. Great. Our next question comes from Arun Suresh in terms of Sapphire or our products how much revenue growth as expected in 2045 and can this be the main part of business and the <unk>.
Speaker Change #150: Given the push in AI and data centers for Biofuels.
Speaker Change #151: Well, thank you Arnaud for joining us today and thank you for the question before going to <unk>.
Speaker Change #151:
Speaker Change #152: I'm looking at if you will of.
Speaker Change #153: And it gives some indication about the growth in 2025.
Speaker Change #153: In terms of the business, but in terms of applications.
And that the centers.
Speaker Change #153: I don't know what I can say is and they suddenly said good idea great but.
Speaker Change #153: What I want to.
Speaker Change #154: I'd point out that <unk> is focusing on improving yields.
Speaker Change #154: For glass.
Speaker Change #154: The future brought us by using safflower us as a buyer react thoracic great small factory in biological factory.
Speaker Change #155: But he has set the scene on bi fuels.
I personally think that we haven't reached what plants can do more.
Ruby: <unk> is ruby.
With class a lumpy soy that this technology is not only doable.
Ruby: Not only feasible.
Ruby: Is cost effective is sustainable.
Speaker Change #157: Israel is materially.
Speaker Change #158: This is concrete.
Speaker Change #158: So by using the AI in the future, that's a centers or any other applications.
I think as Greg.
Speaker Change #158: And.
Speaker Change #158:
Speaker Change #158: We could we have.
The ability to produce.
Any more April April 18 in any growth.
Speaker Change #158: So far based into synthetics, but I want to go back to take questions.
Speaker Change #158: Thank you.
Lisa: And Lisa FERC process.
Lisa: In more details in terms of adding.
Speaker Change #160: Sure. Thank you I've thought on I don't thank you very much.
Although the questions. So I mentioned before.
Speaker Change #161: Do we expect for fiscal year 2025.
Speaker Change #162: Is a colossal participates in the overall total revenue and around 15%.
Speaker Change #163: Again for fiscal year until it totaled six there's going to be a lot of focus in the operational platform and the scale up of the.
Tobey: The operational Glossal with a bigger obtain starting in May June calendar year, Tobey Tobey fight.
Tobey: So what to expect in terms of lesser participating the revenue onwards.
For fiscal year 'twenty, six probably influences guys under 75 is going to be around 15% for at least 10 years.
Tobey: Six.
Speaker Change #165: I would expect it could be participating in that one way to participate in this study with only 45. So yes, we have.
Speaker Change #165: Good hostess good expectations for that product.
Speaker Change #165: Hum.
Speaker Change #166: Grow the right deal with it.
Speaker Change #166: Thank you Jose before going to the next slide I want to lead the effort.
Speaker Change #167: Two priority if you will.
Speaker Change #166: Bump.
Speaker Change #166: My analytical.
Speaker Change #168: I think the answer.
Speaker Change #168: Yeah.
Speaker Change #168: Yeah.
Speaker Change #168: I cant sorry.
Speaker Change #169: Sorry, I'm, having some connection issues.
Speaker Change #169: Okay.
Speaker Change #169: In this.
Speaker Change #170: Particular case, writing or technologies that are expanding quite a bit gross Ghana as you've already won and then Jose that's also mentioned quite a bit about it.
Speaker Change #170: To add but I think as we expand our water quality platform here.
Speaker Change #170: You know.
Speaker Change #170: We can make some other milestones in this case to reach the market as well.
Speaker Change #170: Expand our product lines in the future.
Speaker Change #171: Back to you. Thank you.
Speaker Change #172: Yeah, Yeah, I fully I fully agree. Thank you Ireland for the question.
Speaker Change #173: Please will let's move for that for the next question funds. Okay. We have a follow up question from Anthony Vendetti with Maxim Group.
The states can you discuss what steps you have taken or intend to take to continue to drive awareness and adoption of your <unk> products.
Well. Thank you for the question Anthony again.
Speaker Change #174: While all the all the efforts we have done.
Speaker Change #174: Although we are willing to do it.
Speaker Change #174: Terms of awareness of <unk> farming I set technology.
Speaker Change #175: Or for the industry.
Speaker Change #175: Our for the people that really understand technology science.
Speaker Change #175: And applications.
Speaker Change #175: It costs, a b to B business model.
Speaker Change #175: We don't need to.
Speaker Change #175: Invest money on time and to Defocus communications.
Speaker Change #175: In the in mainstream communications.
Speaker Change #175: We don't need to talk to consumers.
Speaker Change #176: The Netflix of the world knows how to communicate.
Speaker Change #175: So consumers are.
Speaker Change #177: Of course, we need to be transparent we need to talk about the science, if you get into our website we.
Speaker Change #177: Try to be very transparent of how we.
Speaker Change #177: <unk> five plans.
Speaker Change #177: Hum an hour.
Speaker Change #177: However, right now.
So one.
Speaker Change #177: But all of our efforts are.
Speaker Change #177: Right.
Speaker Change #177: To approach.
Speaker Change #177: It was never really understanding that that's the mostly the RMT departments of our of our potential customers.
Speaker Change #177: Both technologies science is foot Si es.
Speaker Change #177: And I know people that.
Speaker Change #177: Okay.
Speaker Change #177: Now I can say that our Uh huh.
Speaker Change #177: Our fully understanding the potential of the stack.
Speaker Change #177: Bye.
Speaker Change #178: You know what.
Speaker Change #178: And I always say that when we started back in 2020, you know talking about modifying.
Speaker Change #178: Seeds for for human consumption purposes was like quite shocking.
Speaker Change #178: Four years.
Speaker Change #178: Ah or no.
And for me to become assured that.
Speaker Change #178: This is a super everybody understood.
So we're going to continue.
Speaker Change #178: Eight gating.
Speaker Change #179: Most of them approached us directly because we are active.
Speaker Change #179: In lending.
Speaker Change #179: <unk>.
Speaker Change #179: <unk>.
Speaker Change #179: Hum specific shows that we are attending so.
Speaker Change #179: It's working so far would really want to reinforce that communication.
Speaker Change #179: Since we are.
Speaker Change #179: Hitting the market now with Glassell on getting fresh material on <unk> sorry.
Speaker Change #179: Hum pretty soon we want to continue investing maybe expanding that message now with fresh materials, and new materials and communication materials as well so.
Speaker Change #179: It's a very relevant topic, what you just raised Anthony in terms of helping the has been excellent and the commercialization stage at least.
Starting as we speak.
Yeah.
Speaker Change #179: Okay moving forward.
Speaker Change #180: Is it an online question from Patricio.
Speaker Change #181: Some of this is similar to the prior question, but if you care to elaborate.
Speaker Change #182: So I would like team.
Speaker Change #181: Questions.
Speaker Change #183: Based upon our in terms of advancements.
Speaker Change #184: Research commercialization.
Speaker Change #184: Got it.
Speaker Change #185: What are the specific plans for marketing and public.
Speaker Change #186: Whilst technologies innovative I believe it is still not widely understood by the general public do you think greater exposure of support could attract more investors increase the value of the shares what's the plan on this matter.
Speaker Change #186: But keeping a question but these are.
Speaker Change #186: It was very very important for us to do.
Speaker Change #187: To tackle all of these things.
Speaker Change #187: Typically the Investor relations team.
Investor Relations.
Speaker Change #187: Efforts that we are.
Speaker Change #188: And we are having together with ICR with you, we'll staff and the ICR theme for US is very important as a small company.
Speaker Change #188: To have this good practices of investor relationships by getting.
Speaker Change #188: And important.
Our firm such as you guys. So the plans are to continue co working with you guys.
Speaker Change #188: <unk>.
It tends to more conference fees.
Speaker Change #188: To to deliver a good staffing firms.
<unk>.
Speaker Change #188: And to keep the stores.
Speaker Change #188: Yeah.
Speaker Change #188: Sometimes is noteworthy.
Speaker Change #188: Because <unk> so many public companies and so many promising companies using biotechnology at these hard to reach.
Speaker Change #188: But I personally believe that if we continue.
Speaker Change #188: Delivering.
Speaker Change #188: We're getting good milestones are communicating these milestones right away to get that.
Speaker Change #188: Bob any time to mature.
Best source.
Speaker Change #188: Now, let's step by step.
Speaker Change #188: Day by day, and we are going to start gaining more traction more awareness.
Speaker Change #188: Yes.
Speaker Change #188: And don't forget that we are here for the long run we are something we are thinking about decades here and this is this has just started but I think he is a very good question, but Michelle Thank you for that.
Speaker Change #189: Let me, let me remind me we enforce that.
Speaker Change #188: Great.
Speaker Change #188: Wells that we are doing together with the ICR too.
Expand on that spread there is part of what's available.
Speaker Change #188: Yes.
Speaker Change #188: Another follow up question or a question we have is from Salvador.
Speaker Change #188: Murdo.
Speaker Change #190: I moved to the Dori I understand they go after the fact based product. So how can it be competitive from a cost point of view compared to palm oil for example, or the targeting and another more premium okay.
Thank you Sarah.
Speaker Change #191: Thank you for the question.
Speaker Change #190:
Speaker Change #192: I'm very glad that you are getting into the story now so.
Speaker Change #193: We could give more color not only about glass.
Application, some prototypes and the competitive edge also equally.
Bob: Hi, Bob.
Bob: A better a better color on incentives.
Speaker Change #195: Or more like Easter way here with molecular farmland.
Bob: Before going to my team to who will explain the product.
Speaker Change #196: Now I would like to be.
Speaker Change #197: To do a quick because the market just help and I'm, probably most of you want to start seeing that.
Speaker Change #198: <unk> taken a local for sure some of that.
Speaker Change #199: And the market is that a glass is the NIM glass means.
G M&A: G M&A.
G M&A: Safflower oil that mean, Dominic on any asset.
Speaker Change #201: Our flower oil gum and internet.
Speaker Change #201: Okay.
Speaker Change #202: Isn't it isn't a specific omega six it's a nutritional oil so it's not competing with palm oil.
Speaker Change #202: Competing with some other G&A like always in the market most of these products are.
Or from sources, such as voice oil prime routes, but that all said you want to add sorry, I imagine you want to add the Miranda.
Speaker Change #202: No I think you.
Speaker Change #203: You explained it quite well the only thing I would obviously, our competitive advantage compared to Boarish on meeting in Primrose, which are.
Speaker Change #203: Plant based or even reaching GLA is that our.
Speaker Change #203: Expresses.
Speaker Change #203: Something between 50% to 60% of GLA, so out of the complete fatty acid profile.
Speaker Change #203: 60%.
Speaker Change #203: We completed a 60% ish DNA the next most.
Speaker Change #203: <unk> cloud based all usable reach.
Speaker Change #204: So I'll kick off.
Speaker Change #204: Good evening.
Speaker Change #204: The 10% range so our.
Speaker Change #204: Our.
Speaker Change #204: Three times more <unk>.
Speaker Change #204: Perfect.
Speaker Change #204: <unk> done that.
Speaker Change #204: Hello.
Speaker Change #204: Reaching and Janet if that's our that's our competitive advantage.
Speaker Change #204: Yeah.
Speaker Change #204: Thank you Martine I want to add before we close we will go to the next question.
Speaker Change #204: Concentration levels are critical for dietary supplement brookdale.
Speaker Change #204: It's not the same to take three or four pills per day, rather than <unk>.
Speaker Change #204: So our competitive advantages.
Speaker Change #206: <unk> is a strong set of messy Shandong, that's what we are going to.
Who.
Speaker Change #206: It also has to do in terms of communications.
Speaker Change #207: So I'm.
Speaker Change #207: Now long enough, we have products in the market.
Speaker Change #207: We'll reinforce that competitive edge.
Speaker Change #207: Will you have any question.
Speaker Change #208: Question I think there is not any questions.
Speaker Change #207: And the telephone.
Speaker Change #208: Correct.
Speaker Change #209: It appears there's no further questions at this time, so I'd like to hand, the call back over to you for closing remarks.
Speaker Change #209: Before that I wanted to ask my partners here, if you want to add something before we go Amit I think that maybe you want to let some of that some comments in terms of the technology.
Amit: Sam I think the three before we vote.
Sam: Yes. Thank you guys, Tom I wanted to address a couple of comments earlier.
Those about pulp plant performance and so.
Speaker Change #211: We are really connecting a lot with commodity groups organizations.
Speaker Change #211: Because as Scott mentioned, we had a <unk> business.
Speaker Change #211: First informing them so as we interact with the commodity groups.
Speaker Change #211: Organizations that will be also be in front of these groups, which also fosters collaborations.
Speaker Change #211: Collaborations and partnerships that will come up.
Speaker Change #211: Secondly, we are also becoming members or were already members of several other organizations such as the international Society of conforming.
Speaker Change #212: Sorry, do you mean vitro biology, and then an organization such as Scott Thompson for agricultural Science technology, because we really want to work with these groups.
Speaker Change #212: These are sites that can then be utilized.
Speaker Change #212: And then utilize the platform to conform to policymakers.
Speaker Change #212: Sometimes I'd also on cross border to be industrial groups. So.
Speaker Change #212: The effort on the science side is that what we have developed an old technology Smart home is cross cutting the business piece.
Technology leadership piece as well.
Speaker Change #213: It's really leading the way forward for producing some of the major review, it's not really today.
Speaker Change #214: Farming and through this ecosystem, we are devoting networks or gas concern.
R&D folks are coming to us in fact, I got invited to own behalf monarch to peak.
Speaker Change #215: Sessions to talk about what we've achieved through sorry, I'm sorry.
Speaker Change #216: <unk> is one of those can also so that's a very exciting time for us and the science field and that also fosters new ideas that are new scientists, who are developed starting their careers with new technology and new technologies that really weren't interested in this and that's how together we will really advanced the signs on the strong. So that's good morning. Thank you Beth.
Back to you.
Thank you Amin. Thank you yes.
Speaker Change #216: That on top of it.
Speaker Change #217: We're very committed to.
So our ship.
Speaker Change #217: We're already committed to follow.
Please.
Speaker Change #217: Well Ross Ross in the United States.
Speaker Change #218: Where we are dealing with high value products here fully operating in the United States with the RSR from the USDA a feast.
May seems nevertheless, we are very focused on follow on having trust ability of our <unk> sell seats, but thats very important for the operational side on top of what you said Amit that we are part of these soybean association scientific specifications as well.
Speaker Change #219: I think before we go.
Speaker Change #220: So from my part thank you everyone for participating in the call the interest in <unk>.
Speaker Change #220: Still reach out for.
Any questions they dose, but you have all of our IP.
Speaker Change #221: Two two.
Speaker Change #221: To help and we get in touch with you.
Jim: Thanks, Jim.
Jim: Okay.
Speaker Change #223: Thank you. Thank you all saw quite an interesting conversation during this Q&A. Thank you.
Speaker Change #223: Okay great.
Speaker Change #225: I said I would like to take on that.
Speaker Change #223: Jones, our chief of staff.
Speaker Change #226: The lithium more left for leading internally again his business update.
Speaker Change #226: Well thank you.
Speaker Change #226: And to the market.
Speaker Change #226: And also to my fellow officer, presenting with me.
Speaker Change #227: Thanks for joining us today. This annual business update thank you for that for taking the time and your interest in our company and our story and finally I want to reinforce the commitment of our of our company.
Speaker Change #227: Our major corridors as well.
Speaker Change #227: To keep the company publicly in this challenging market as you surely know.
Speaker Change #227: We redoubled our commitment to our purpose of really finding their way with produce anymore proteins with monarch rough army for for the good of the planet or Vodafone well. Thank you again have a great day.
Speaker Change #228: Thank you all you may now disconnect.
Speaker Change #227: Yeah.
Speaker Change #227: [music].