BioLargo (BLGO) 14 Aug 242024 Q2 Earnings call transcript

Greetings. Welcome to the BioLargo Second Quarter 2024 Earnings Results Conference Call. [Operator Instructions] Please note, this conference is being recorded.

I will now hand the conference over to your host, Brian Loper.

You may begin.

Great. Holly. you, Thank Appreciate that. everyone. afternoon, Good QX June Results XX, BioLargo's the Call month ended XXXX. XXXX to Conference Earnings for Welcome By now, X. everyone earnings press should have had which issued access was on August release, to the available This being call webcast is is for and replay.

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

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

XX-K, Forward-looking based as management's risks knowledge of cause of detailed filed differ current today such and certain The undertakes statements. the reports risks to company the uncertainties statements to discussion materially SEC. recent on are forward-looking and with in from obligation actual results forward-looking and expectations A statements. are Form and any and the to XX-Q update may no are other uncertainties subject contained and our most

over hand And with that, Executive call now I the Dennis to Chief will Calvert. Officer, BioLargo's

thank Charles hi. you us. to want Hey, Brian. us, also I much. mention joining for you, is there? you CFO. very Charlie, everyone, Are our with say Dargan Thank And

Dennis. Thank I'm very Yes, good. much, you here. I'm

going to to talk lot about. Thank you being status burning everyone wants quickly. the a question here. Great. questions business I know of for a about some go We're of on of sort development. It's

for Record And and announcement. had that. start quarter our we've so a quarter, great with we'll

lives air, life innovation, high-impact Remember, a We life on energy, make better Keen focus focus quick -- and course. the help and we're better. It's of Sustainable a emphasis BioLargo, innovation. and to going innovation do big better calling. on on place a people's a water intro. better planet. make to we world

Be look is of robust do the factors. and eloquently our statements. risk. on our and We disclosure high forward-looking nature our sure at business a Qs Ks. They're real. risk Brian covered cautionary The

of before. done the is to have and BioLargo, innovating That's we never persevere overcome. We're And hallmarks been we success. that one news overcoming the that things the be of good to obstacles going

passionate in didn't Who are we? making Best do wouldn't very we of going chance make find the health, Innovators but and class change innovations it. adoption important. class. We're made marketplace human sometimes, a be life scientists, as will by these can marketplace. some for right, frustrating best in to is in cornerstone We better, and those innovations in a had a particular. change. investments cycles We about believe of nonetheless driven these innovation talk purpose, transformative considerable think about be technology home a that sustainability We've very in in The assets. the to are transformative entrepreneurs, the

of long those time. a some And take

about we'll that, So too. talk

on. going engineering of Lots

live. XX almost gosh, good XX, and our experience joined us, commercial XX where in ago. we like without World-class Our It's innovations problems engineers marketplace. something missing people, doing innovation around important. years' the all have -- adoption. supporting years to There's focus That's really X on We the solutions. for world,

find -- have distribution engineers, to validated market for and profit revenue to we much is R&D. create the yourself and the company, finance parent ultimately of Very spirit, of for find marketplace a opportunities we the partnership. into a At opportunity, strategy. technology and entrepreneurial get massive lots think massive adoption, get way what Lots

on as there in in time. is million up A lot grant also over critical going innovator $X.X there. themselves, Canada well, support innovation. the Our Also group secured

for company and for technology goodness. has as transformative a XX antimicrobials in about but used nonetheless, that right, the that get been future, at to years, and And poised business. we infection optimistic Medical, it's control where about incubated and partnerships while for a highly exciting taken significance. Very major medical are, have believe my we've some they hand. settings. it's are to encouraged near got That Clyra Oh, we're

We'll energy large, offloading long-duration balancing youngest. XX-foot batteries about for is Our storage. it's technology fixed energy got built a the technology energy grid, unique renewables, that. talk think the That's site the We'll a about transformative developments for We've batteries, We long-duration trailers. itself talk for there. technology storage.

really odor generated in products its continually. financial about detail is company performance. We'll the company. that talk transform records because ONM, Pooph revenue of flagship it's the and -- marketplace, of control breaking for one the fastest-growing and the of the pet

something expert chemistry We also and VOC, now, think, It's do control. the in organic come landfills. become like volatile lot of a of the Really that of I and compounds. field the industrial in Over field off years, that. gases X odor odor

on little The PFAS. our all equipment to dive. including relatively of That's topic. new. water focused of deeper into a bit super group, course, is of We're PFAS, a commercializing go technologies, a hot going

X I'm to for and take about We're general try these commentary both or think give X to flavor Charlie provide annual slides a presenting quarterly next you and I that. going some -- these results. to ask and

to so these? about you like of Charlie, speak some And would

in Sure. going have for proud kind about $X almost But and million record months I'd quarter record revenue I as X and reported, of. million, the the this love a million revenues. way we I maintained BioLargo, necessarily particularly We X to see Dennis And it which to. go We margins. Thanks, months. reported, am the yes, in our did through the we in slides. $XX Dennis. And of versus I'm about was this just had $X.X

$X.X X million months. for gross we XXXX, months over X produced So profits little of the a and million for $X the

options those and offer that we the And $XXX,XXX And And months. in other losses, you we they're charges issue. certainly our a million the take X noncash almost loss are as share, minuscule. and in of see expenses X net noncash we the to from stock or for net were almost narrow. did that per months has report very with those can while Now it lot $X.X do

cash pretty the we're And perspective, breakeven. operations becoming of produced flow from operating months. cash and close an X flow headway actually flow cash we you to in from positive statement, if at our look $XXX,XXX making So

very, that. with So happy very

if look balance good. accounts the million and our get $X of cash $X.X really the We're capital balance receivable. where to we And million have on you you $X.X positive, of of sheet, look we working at million sheet, point

of debt the have our we're doing are accounts EIDL normal about comes right operations debt, in our direction. of operation. as right which through only are right in most is, outside it believe, I which very parts So And loan. $XXX,XXX carrying things long-term time. the The the of at to we're payable, we And moving which little --

situation. perspective, from that its a the from sheet best statement a one is and So of in cash company flow positions, and balance certainly income

back So Dennis, to kind of you.

No, Yes. slide and That's it next math doubles pure think formula. a revenue, great. it. our then that's basically takes which existing, And year-to-date million I just you $X.X the referenced,

Of will course, to maintain. increase we've necessarily projection that's a but And it. provide that, chance trying We the got for believe to current we're not a true. track we believe

in I a per position real Big And profit a to but reliance it these because we're long imagine. a record on a to believe closer very about when [ earnings we Pooph. be the Charlie become encouraging than going Pooph in will And it's conversation it's stays here, questions year. is the remove time a for constant have share. ] and concern take course. moment. numbers But It might year. We everyone get about us did can

lingo, given very revenue. okay? of qualify stock the point the of nice we And shareholder and I good success, much a anomaly met in XX,XXX stepping microcap part have remove one that OTC It's statements OTCQX, or confidence in as a the the designation, out want we specifications years which have We've with we companies -- rate A of feedback we've that hundred are -- to call in just And community, way on and financial multiple million penny had the we few had it nice the the in space. stone and get of growth to means It's $X are We sheet that reporting is in net met out more to report. our to equity. and exempt. also qualification. their that our in actually especially requirements the balance significant

number with Net direct reduced one. what that And time finance of revenue, And because the number. every which over important -- able is we've steadily shows us this that It is increased it's important mention really some dilution. notice equity. an subsidiaries discipline. helps been the We've because risen. the is this contributor. years, of shows also We to the have stockholder's preserve last we X investment, That's expansion biggest that

any record it's not the out be point at also on minute. will the that I moment, on -- if it record Q

a So that everybody morning. tonight see in have the to or chance

specific from speak. of company So being in offering through what like you're unit to we But event. that no some to QX, we it's Q, in private very needed call that which in that going private has means things investment not raise direct process direct no offerings placements the with as filed notice and dilution

the And the cash. continued and operating reason units directly bring in is your conversion. another grow the had fully warrants. Why to calculated That's exercise outstanding why count, is and of of have was And because warrants, some that? question? is total We've we capital been units. And generate the that? in those some exercise key also and Right? there into while is to diluted able factor first Well, issued

company for thankful meaningful been that. the we're as very That's for so And well.

is is route national a qualified generally to to this is exchange. So we want requirement exchanges the equity and many like million a $X.X of $X being shareholder net a generally equity company that, the pursue believe to important on prerequisite million on fully shareholder exchange listing that Nasdaq net speaking, we speaking, an for, our because

well in And continue that. excess grow. believe will so And to we're it we of

those you on do any have Charlie, comments So thoughts?

yes, for operations think -- And now, to growing, uplisting Yes. make projections. the about way and where I'm for management have is stockholders extremely or that been the positive again, which, to I given stockholders' to decision absolutely equity kind we're that, moving with going Nasdaq. No, moving of we continue which to And about important I revenue grow, believe and our are you're the good right. necessary any

the I'm where very about is growing very we're we've where been and headed. for company yes, and how positive So excited

investment also on to very OTC development very, very and is then the And We're position the the side good extraordinarily direct careful Good. again, again, most which of preserve Yes. to helps it a to this parent. careful. -- Be be the dilution. in subsidiaries, compared able because -- on of such Agreed. companies to preserve dilution at are finance stage into valuable

do to a pursuing I build will say as come call want other can and way conservation the of this that. strategy and business. customers, patient we long-winded, simple or it's develop what And they expand to they in we But as When And capital is idea many as really it that the because as then we I have cases, come I accounts. we staff get have we are we it build it. we're build in way don't

an or X so we've a example. the new Give -- people are expect these you in Air group XX Force, just believe, generate the we contracts month. with And And those XX, days, I The $XXX,XXX those which to last added, group. engineering engineering the awesome. to landed about

it bank. that's and pulling engineering did flow and So with people because we team, ultimate the and board, contract the we But and awesome. we expand good before the qualified money which balance support the while have highly statement are on okay? come is pay we for income those had is means staff, staff And sheet duty, cash hand, really when on to double members it's the those the in then everybody it in backfill. So hard

we that. on the focused working So battery kind okay? strategy, that we're Wherever water can, technology. of to really thing hard Same do and we're in

quick, business Real units.

really course, and of grateful Pooph. And to Pooph of knows projecting so half So just the everybody be significant. the is we're killing year second it. team -- is Pooph at

XX% QX Q, course. to bit to Now from to XX% revenues going drop to little see continuing, of top timing in most QX, that line. a of We attribute the are you're had because off of

new going retailers. also, got show They've you a But I'm couple really to of important things.

up new will, Now you while we for stock distribution. the in Walmart we if the volatility, to stocked the these most some new And consistency when of at a order the had past. looked is experienced they up in retailers retailers, flow, they saw notable. national and

Okay.

course, Target's these new a a knows wave. ripple account. And of new part Ralphs -- accounts, big Target. X of everyone is Ralphs, And big So big which foods. Kroger That's is deal. then before just And remember, brands a a are brands. these

of big And each is company. for of stated is to X players But slides in take be coming to the have all product expanding, on. going cycle and these, And -- their me the gets continue really Depot, Home they away. big get course, they and goal stores. own how the of to so in life next their distributed, it that's

Here we go.

Okay.

So business The We're Pooph, deal. we remember business is We product. our of to supplier supply. did the relationship a right? the deal

So to do product and builds all that we up get manages brand sets up advertising. the the to that Pooph wholesale in situated distribution, their product Pooph. then marketplace. sets the They brand, work retailers,

at small hip. that. product support there's product a them of do We possible really we're the on. way hooked lot exchange a And also manufacturer's development. exit any exclusivity of business going We're for then sold. royalty. busy We development piece of brand, in we with We're because eventually partners. for of XX% margin, We when the the a bargained the in receive And it's a equity

just Now I to highlight again, this. have

they in that, we As relationship So what north about us. at to great with brand check. Pooph that $XXX increasing. know goals is both people national success. think turned growing and because continue is large an way Their exit, forget said that we million. And And how the going be right? has what's the such to and out of Well, our know a be to as we share we recipient to always be it's we're brand. a believe is Pooph brand of want our expand are. good success They for times believe a prominence we brand, do success that? of in meaningful And parties that I've to this and their equity goals establishes their very going building that a

Okay.

say, growth, XX% million The first That's XXX, is XXX% $X go So XX%, targeting up. you and you is quarter-over-quarter a goal get do start is when you little take XXX, okay? they Xx. over quarter there, and let's But say, volatility we're we that right? quarter growth. One with another

consistently saying believe can they're to they they is us year-over-year time growth. what XXX% over So achieve

to retail evidence recently, the outlets, that. The march. that know XX,XXX are like is wipes is goal about outlets. best continue We get in something they most to and both Their Litterizer they're to XX,XXX XX,XXX, retail stated And launched.

distribution. They're that promoted. I on I Pooph orders, Pads. being the being the they're shelf. new believe advertised. New a new on then campaigns, a know They're we Pretty busy. store on don't And production side, Potty retail from they're they're yet. don't But way. think

so again, exciting. very And

And of our an extension intellectual of is innovations these product property. each

to absent expected will growth a coming take the is a XXX% into continue. this us other assets goal, flourishing under that for Stated So relationship, way. year. $XX million, And market just meaningful in to

news good And so that's for the company.

Clyra.

company. quite it's our under is story a is is million. Clyra So all from now medical in will for -- product perspective. co-branded forget That of taxing device. to that also clearance we on staffing know Very in product. this national XXX(k), to be origin over people the with back very taken secured of exciting. going the the said already the It's be we're going $XXX,XXX some or we've partner rollout It's -- taxing what just has a FDA Remember, a field. put okay? been equipment. these transformative It $XXX,XXX go medical product believe the first financially, that been about little year time. We a number about to $X.X focused over And ideas ideas, a we've You is are have

we're commercial and find has significance partnership that different and higher. in been say, and anxious that year day we've through moving in over rollout one that launch. also forward, okay, to who these ready in confidence optimism development can relationship stages. just I never table, for multiple But main to parties the up products is all the got to a show say we've now we're been very come will Our have

right so heading but soon, definitely we we the And hope in direction. we're believe that

the show to that the And some spectrum broad numbers. is gentleness really we to lost. no meaningfulness that. field we're that want a me harm product to a have be mean? We in and about. numbers the Well, up But of say with suite. is supports efficacy chance and on Clyra, That and we're does What talking change that infection of know the a represents biofilm control potentially. agent what anxious efficacy. leave-in show surgical and the the also data will of That's the kind just what body with it and product I the sometimes significance that, for means

put have and the all the claims and claim those -- those you been all it makes you products in them world. set, When world, it proven. And together, those #X in put together claims when the again,

the to So XX that's it know investment I massive situated that work don't more that's meaningful get know big for really is partners brands it of we $XX just And clear. which make over about a -- years million true, to probably if and for rollout product and world. representing scale I true, of big impact with to make how

company. other final dramatic about. Keystone we're for preparing that That's And circle product privately makes Keystone Very the machine our is in It's the held, manufacturer, significant openly our equipment. also made and about $X.X has the Keystone part what And We've we've a that is launch. it. a product, into exciting. and that. big is player. partner Q. of million that really Now this of story supplement talked investment, the large well steps at with plus to a for actually situated, also is Full had

going nonstick to of world, the now pollutants related in PFAS, make to significant this on you considered years. a that's PFAS. of chemicals It's PFAS. the use I forever coatings. coatings chemistry kill with problem. a with won't Big companies detail for nonstick lot most one global

is for a the industry was Ready to making products price. new it $X.X point. sold clean the This estimated The the to Okay. remove a is slide. with into that compare. PFAS, $XX in That billions from to about XX this okay? That's anywhere $X,XXX cost about products chemistry to $XX generated industry combine at to million used sold going million new, a It's of is about pound, using When this? trillions environment the raw between was travesty It's pound. means to started fascinating. cost cost from it's It $X,XXX social it up. And and it the pound, $XX revenue. It's -- industry. the to be trillion. or of

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very So good a it's situation.

have knowledge, I the from actually welcome to don't a secured To want I caveat, publicly, our other company a also of said okay? an it this and commercial know that's that's account challenge, And say any alternative I again. we technology.

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them. is multiple And most being of trials and this we fields, into big So underway, one other some recently have we've a expanded leachate win.

non-detect a to water with is right X treatment a the slide to post-AEC status. it. and in left, post other hit that see to PFAS-free This Untreated right, even you after produce AEC. show I'm we've systems, the this means That new so X, one X, middle, going leachate

water Now this landfill. of the of is out comes that the leachate. is Leachate a bottom

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In fact, it's think XXx. about we

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this available. make will publicly We

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system right? is this So cost. that a associated life XX-year people, treat water water XX-year basically would a On with drinking XX,XXX life cycle, cycle

And to handling. between cycle this a of life lower a carbon have cost going the XX% is We cost variable and than what's happen XXX% to system.

a Now unsound. cost to time Again, the chain of all meeting trillion. addition, an some it's bold going or the these us have incumbent XXx for so does, to difficult pressure. handling XXx. down they're that roof. very statement. when parts cost predicting to in makes through it technologies going And in of a way regulatory expectation And continue pretty But under will prove fall we've economically to a taken we're ultra-short right specification PFAS to treat, time current molecules is go wrong. The there's X a hazmat And will as it the per

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that what the to stuff So change you out. thought need regulatory work We're enforcement going going means the not is as could do to old to continues.

an means it Breakthrough In carbon addition, works, issue it called doesn't and works, it which is it work. systems breakthrough. right, works, have

value And cost and course, concentration turnkey proposition, with So that there's of our number super efficiency destruction. a of and is problems then one, system. lot a

bushes the beating We have prospects. daily. We're backlog of a

have partnerships. strategic We

the It's stage, political that And that emerging by partnerships. time early they sign. expanding. are we're fact great channel adopting are decision-makers tech. for challenged all really we have still a all influenced have adopter a really, It's So in really, difficult considerations, very right? by primarily We an

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no temp. sodium, lithium, that Sodium, battery right? that liquid right? load liquid that's battery, in about Cellinity of Don't the a tech, beauty everybody requires cool. What it's XXXC. the does to a That's about Battery let get But it get room batteries? above runs to higher, hot. sodium low you hot. can XXXC parasitic it world that's is keep let Okay. tell So at temperature. it batteries Don't -- operate of Compared it

actually the Ours heat. loves

we a bit a presentation. little of So have

work There if I we can quick. see make real Let's it here go.

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[Presentation]

Thank Okay. you very much.

this because it Okay. later. present public possibly offering. series be data. We that And We you attractive right? so included want have basically, of we so of But we it to very record, look it. There's covered commercial a slide it at can't can much we features make those, some a

them your and cells, the to is once we're cells produce you This refine making make which design to now, you can the scale. technique manufacturing

and left, cells, X renewable modules create energy, So are racks you can assemble on ultimately, okay? Primarily focused okay? these packs, grid, make you X home balancing packs. these might you these them like, hour right, an basically and to XX-foot next racks, okay? And megawatt or EV and XX kilowatt the charging put small on that those something hour and take offloading store your to these the are You to on trailers. station on units next the the units And

just cell We're testing facility. The pilot an announcement bit I now. a about, cells know, We is don't ago. This producing made it's little manufacturing, cells.

I see if that. remember Let me can

Here we go.

June, okay. Next June, July, slide. In right,

the Spartan in testing and call that Spartan refinement of the sales. we just smaller announced the be the were first okay. the we're cell what work So making the manufacturing And process, XXx of cell. will and will the to commercial We're beginning our we a that recently we scale just on be cell the believe unit design, up to

So good progress. we're making

factories can our batteries. is and factory What's would $XXX top strategy Cell is operational. up take batteries, set okay? believe to that? in $X.X of battery to battery sell years Cell billion do cells X.X Why business revenue. not with don't battery storage about make is market, Why? why. battery And that is that produce going We the The I'm unusual Well, factory quite about year. to factory we average per X.X you model going generate unique. believe today's million that packs and gigawatt hours CapEx, line show

So the we've our out we'd like said, marketplace gone we've and in gone is the we've partners what -- done put business. to to

make countries. energy So can be a be who who the utility. okay? to of could partners? It somebody big want can parks, financial it lot model It someone data, a that's data people centers, renewable them It energy It And be batteries, type, are that could business. the our public Well, in in interest of could is developers, a land project. to and be wants as in be represent money. business XX% X% credits That the would partnership, generated, ownership. that royalty we what And can relationship the is our the general right put would are equity we which based the on a participate carried equity means business. that now seek credit to in accrue about XX% that

and financing, parties leverage scale building It for allows these at So have the also at the least for of we've gone table. also after clean we okay? marketplace, and interested It allows financing. the X

highlights only and leveraging business the this making, handover, company: the on a competencies the core excitement deal the people the batteries, I business training, want that working capital formalized from that this our to not believe advance engineering, working of that we're The response we the on, the is going off support, the financing the handshakes pull but of of deals the opportunity we're yet, of a type sheet of proposal on equity lots conserves the have not of because capital resources balance as primarily okay? the our lot We astounding. batteries. science and and is

the a of to work do. this all lot to Now is caveat there's

of Personally these stage. necessary design, battery And now, able also direct a us refinement another parent the So We've like the this the finance of what things: to again, so -- it's in basis then scalability, causes. company, the on partnerships it's itself because investment and okay? of extensive so the time, couple don't processes battery think we the those business bring can the we're a we're significant conserving dilute and a BioLargo, the the giving opportunity, on up focused right and for modeling detail not early model in the I is continual factory, to doing very the the only represents corporately, capital that presents look advance battery capital a in we're been scale the that comes but for historically capital, that bear. area, and and various and excited to strategy capital

quarter. business update the the that's So for

up questions think I now. going to we're open it to

Loper, So you are me? Mr. with

overview. make biolargoenergy.com. key anybody some are great very That going trouble Yes, sir. for to you on Cellinity the of battery, the it that. into Dove that business. a If doing areas available was Thank you video had Thank we much, Dennis. with about

All right.

So be here, got folks a in yes, a quarter for a $XX we've million up of mean for row, quarters I excellent but year, we're $X payday. ready this it's far for number for another to that this the And news million been this quarter, right? seen quarter, record key a or have QX holding revenue, almost so a while, also record takeaway with year. is in which positive having to record terrific now

kind stop with perspective, with tech, upward we're I'm happen battery. Pooph, such on water the have Clyra, an But what from would for to BioLargo with trajectory seeing So of wondering, your growth? to

stop of think okay. What's the it? derail seeing That's mean to growth? it having risk happen what to have would the question? Well, would yes, fair that You Is I -- derailed? What enough.

an things that. dynamic of in a couple It's interesting think I on there's question.

their The ability meet time. has think first I over to their demonstrated significance is Pooph targets that in

to a very expect don't we market. They change. in competitive are So that

at they're lines expanding, rest assured, expanding, good do. are outlets retail the So and like And they they're are product just what competition, one. the and doing extraordinarily it's So but okay? great, that's

around. and the We economics to for astound expanding could messing of world, if to way. Hence, about you. like opportunities significance, will now that. them. our also Clyra importance And we've distribution said it dramatic and XXx have When before, significant believe, a the Clyra we're million. implications able line does, development not growth years close does a we $XX invested and as I finally the as extraordinary a serious and a being occasions, of said When move -- we and number commercial in I product of XX it I X one to launch opportunity. in the of is it Pooph being company, revenue We're with We're be okay? and mean significant to really from that forward

In engineers. revenue generated the million. was a for addition, about the quarter, $X quarter engineers have That demonstrated like they in this record last of

sold. There projects. miss were Of some there part parcel not that, was of that. equipment and Let's

the equipment. So it it's markup a that's a -- of on wasn't margin supply

they've we So And of that group and water it's the that's done. what part with but the not equipment expand. also going believe also to to company continue is services, parcel

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position We make We execute. cash feature a necessary We've finds capital-conserving tech demonstrated is that capital strong. sure the ability the transformative foothold. to we Our get deploy strategies. that to

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from don't know on of derail a be us successful. feeling fear I but of a the that that things level So not significant can if in continuing answers question, we're position to

our successful the opposite, never revenue more customers and better quite position critical with more had diversity, the we're in In with promising our in we opposite. exciting opposite do, that we we've leveraging mass future core fact, and conserving and -- with think the than it's competency, before. our the since financial more exactly more capital way and The is is very a

it's think we So time to leverage that up, okay?

for Great. Yes. answering that. you Thank

share First Church of into question to for plans there by [ says, you call the Michael dilution the stop dive ] subsidiaries. dilution? capital. was the The here before and growth Are we Gentlemen, a accompanied Q&A. thank

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nor things we money company mentioned, equity we directly One, there. into notice our that already So any happened it. last have which line the have raised need into parent X tapped because we have quarter, not we didn't

medical focus innovation focused how is on get time and tech need company bring from the The past, future. the on those do BioLargo direct like has what supplemented make to continue parent our to the support investment in in then we'll answer we've where the to which they battery they you is you time So company, endeavors right? go. in, So sure to and

made investment It's same that the of at that about Clyra. note year, did of to terms on we important investment. Last the we as current $XXX,XXX round

into basically while advance little investors seek we battery recently We've the cause, to the without enviable then the okay? in, the It in diluting who done come we capital, third-party capital thing parent, needs price. same in more its to the also investment valuation So position the set. the the tech, where match is We've been subsidiaries money. a advance

right? of And we I And share pretty -- days, continuing if warrants of and into last factored course, lessen. diluted had dilution from those the mention count, fully already dilution that's is did it's an dramatic some a some look the XXX face you option a so that impact now to count, conversion warrant to that in the and the So were at converted But in execution. did coverage they've last quarter. the share

that all getting better. So of is

So sign, and we think a can it we it's very think ahead. continue. Go good

right. All right. All

money Will questions Pooph. wholesale a here bit sales? be yes, a [ merchants in of well So few the ] makers. are Pooph. it appears into there about dive let's Mr. A Falk slowdown asked, stocked with

know We Yes. that. don't

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All right.

So to on Clyra. let's move

you've commercial that during that So mentioned scale on year all you for forward. a been moving that's a co-branded now, presentation the had product working rollout for a deal over

you was involved. the I in that deal, that's there distribution... parties mentioned You And could are in wondering production, if multiple if clarify

we clear. Yes, should Thank more question. you we Yes, clarification more the clear. be be sorry. for Yes, should

XXX(k) the by if believe that's approved don't some would required process, suite, So focus a an we file it, there's So Bioclynse, which we of And And by is be that, okay? surgical And detail the elongated the it's device then is a process, product those there any that's to the we be FDA. to is already that paperwork med set, with product as the FDA. co-brand would the enhancement under to on cleared under exact underway. have claim review but FDA, okay? as also

be bring product capability, to contract Industries. that also they which we a to we FDA currently high an They to this of requirements. And manufacturing in Keystone produce parties to a they into good we entered very other sell supply They're volume partner, needed other There's We might with They're that Relative order level They with And Keystone in scale arrangement can spec. through of much. product can really intended concept spec. so meet manufacturer successfully experts. like for that they the them and our collaboration. us. have found channels meet substantial.

scale for support get ready products supply, the that, all to is focus said it. on required That's the Having these to okay?

in distributor, right, clearance the on what share label manufacturer. called That They our label, That's manufacturer. secure produced some manufacturing parties. under works. our our under That's through a would contract are how There's with naturally. a is XXX(k) would a that co-branded basically qualified a So claims we've a a a basically FDA, then with means that that approved it there's exclusivity There's X virtual products. to which process are contract relationship, got. brand that FDA or us, liability, our clearance rights

So there's X deal, parties in that okay.

Those In product product designs are table. partners addition, have other remember other designs. the coming we have multiple to that that

would include a wound, ocular. that don't of lot have potential burn, dental, We yet. So work dermatology, there

and care So more, and more. eye

apply. are health the cover and drawing care medical patents of areas Those that we on ones can different the Our the field in a are that lot board.

the for that this device, focused will now, all partnership good news and of technology. even The all drug for. a under financial we're provide launched, getting potential sorts all the pathways. and and There's on things surgical in product that ample co-branded we looking Right can is we're medical that actually our see of proof platform opportunities success claim

that done. So get we're anxious really to

this quite now. a talking And while about something is absolutely. Yes, been we've for

to to sheet the share quite So the it's yet. frustrating balance least say some see on all not for quite been this but it

of So Mr. sales estimate we value? to [ dollar is terms, can Clyra in general begin? And an ], what expect Gingerelle when the

Yes, hard. it's really

yes. -- So

where in taken we're and think I for work going nailed and we've it's, it's much. down take done so that going, there that When a question believe you We're course. to partnership us get just the the So throes it's go, you a we date. to to course, normal necessary pin and Pat, now position preparation It's When right? mistake and a its burning in long, how this of everyone. the it. such much, So of how

of formal there's things happen, that is series happens, will a formation first the right? relationship. that of the Once contract. The a It's

process the you be let's complete, call it, there's the is orders. FDA X deposits. anywhere X reality, from, people contract, That okay? get That's There's once There's making there's been that could work goes and months. So with process a through. sure to

there's signed there's the deal distribution. that's sales prep Then training, there's first. final to product. a launch there's and Then So

the to And Xx hard full so rate, exceed full run XX it business It's surprise the for probably rate. but about time you from those talking it wouldn't it's hits your rate, X could you all revenue in, us hit predict X your you're the a to before months run say rate, go, okay? full easily Pooph, us and So run that more. big as if revenues, we're full or doing at run

a If we you other profile and $X.XX and the global brand standing marketplace. the $X.X product have the into of think of kind partner safety billion look idea at time profile. could we're to highly go technology and in revenue cannot that, in that on kind product that the industry, that and that incumbents a billion the it sophistication is claims that of we We recognized over focused the in size transformative with market that we've combined meet. are the And of

uncertain. it's So extraordinarily the it think get of perspective we very hold. to important of is future can The what timing

it happens do date, to so the it others the happen, going be biggest is And works. successes What the what but in commercial the say if to have is it's portfolio it's company, in of is. And we -- it would we think way one of meaningful. the I it's can it

more think there's to to say way to wait got it Roundabout we come. out. you So

question you. products there par time Clyra are Are this on another regarding for with got care at Pat's for wound effectiveness? that

Are the on question? they was drawing pause? Or they What on are the board?

effective they On as as Are par. Clyra?

Yes. you. On par. Thank

able so. they to We are Yes. So compete think market? sure. Yes, the for in

market. for lingo classic. refers have that the it's wounds. and That's the It's as more. more, on. showcase infected much where on you a big a years layers It's dermatology, just market chronic to primarily in care we've So and wound would it big when much But a goes surgery, wound It's that's not we is anticipated technology of it bandages okay? product So as and right? as and and a industry But It's that product, not it believed and a and always in, say a ago burn market. that right? on

and a them so big is surgery, within of the still those subniche of And -- as as each it put you all okay? And category. market is together, when sort not

it's winner, spectrum from local biofilm it tox, yes, par, gentleness, par. on no So a is on right? that's So efficacy, not efficacy. systemic, proves data only Yes, that got no research broad

invest it's that to to I all XX We think been the is no We're here. to which years in I superior, It's remind to to to willing products just it's and that $XX why, it cower. million would time we've argue going with. we'll I'm everyone, believe win superior get compete it.

All right. All right.

water. to on Moving

a Goshi break by is right. All So this here. X-parter, but [ down Serharan question Mr. ]. It's we'll a it

So competitive technological you PFAS estimate the solution long take considering treatment it before develop a do time, lead how similar advancements will position? market can competitors and

know don't a It's similar working a anyone We question. good on design. that's

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catch think don't I know. us. they can don't I So

safe deploying choice, bills, what those pays I time. if or you look old a the think the And utility pass good bills. rate more finding are last. is making the politics difficult don't the and spot. payer. the they the the have the and concerned federal of about pretty very to thing that choice, they The a is politics, when to in it, they're that technologies, deployment just technologies pay with that's about state we cost safe get a the mean That's it's And at or going making crazy customers public a happening government what's we're to will, I are decisions the going happens, -- incumbent you okay? not of

more they're not So in interested failing.

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in why? the bills to going know form water. their for of the to they're pass rate higher Because back just us You

So aisle. of We're both the trying We're with model, at that the okay? it to how We're We're break is. difficult sides Congress. Senate. the understand at lobbying

can countries. and not working issue, professional that channels lobbyists. billions, you Department with all the and really with say to billions the solve you United the We're We care could go other have but people We're only of and for look, billions literally Defense. the the to States working say,

the significance way into So also I some will through through that's in will a we commercial we partnerships about we're And and will what adoption doing. way early our find days, got and in the meaningful of it. find a fact talk way we've all But our the move our it. the and believe cycle marketplace. they that proven death business. find that, The stable We'll that value account, technology, right? financially we're

stable PFAS. difficult, adopting, business, We we're are critical market, and innovating highly in a a financially in slow

I yes, we're win. to So going think

you give future cost Can the analyst, to cost another potential competitors? analysis particularly regarding question assumptions the the your on current So AEC, little made color of environment tightening, to in assumptions. advantage step-up cost regulatory in your us relation a analysis the cost from more you in and

Yes.

would I need Yes, ] Yes. sure. the phone. [ Well, on Let's Tanya see.

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online -- be as to UCI, I as University Irvine. believe, it's California, So going anyone local encourage to that's at and of I and come. well -- also

looked we okay? of the built treat average looked cost analysis, we commonly deployed, We looked waste, at the transport we amount at served X cost the looked at things, we average calculated do flow at the the And And to to systems a with average And model, we the stream. a waste what -- okay? waste, rate, the also population CapEx. you and were then when

or The the in carbon X.Xx so would that the replace community, replacement small system you're for spend for like a module to for that's a carbon number, system almost And our AEC. be And something the system, going system, small to carbon $XX,XXX. for $XX,XXX.

$XXX versus disposal kind $XXX. $X $XX,XXX, that of $XX,XXX. pound carbon, of XX,XXX of analysis. roughly maybe is So it's XX disposal The for Our okay? pounds a --

rate cost systems about the range. right, to handle $X And system, million then to kind a when capital large of $XXX,XXX. carbon at $X right, is in a you look that bigger is million flow probably for carbon Placing module,

of of and for disposal million, about Call that. cost and is is Ours estimated stream $X then We that $X $X,XXX. the That's carbon. million, to the -- system be would about Ours waste, destroy XXX,XXX it. for okay? -- waste is XXX,XXX pounds right, produced estimated about it disposal $X.X million. our destroy It'd

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we the so lot XXX% out between the cycle And can on in see get we'll of detail. people detail. some and XXX% information again, there's system. said So public cost try Again, life and more a savings that of

with all through Those us. this the we all have today. the time and for Great. you are questions very answers much, going Appreciate it. for But Dennis, thank

to Thanks, again, Reach touch. time, very Yes. And us. stay us at away. plugging everyone, much. Keep you and any we in joining for out appreciate

at may time. conference, disconnect today's concludes your for you participation. this This your and Thank lines you