Barrett Mooney: We’ve made great strides in finding synergies in the teams we’ve brought together under the AgEagle brand. While we still need to grow our way to profitability. We have both increased revenue and cut our burn over the last six months. We are confident that you will see improved performance and continuing improvements in profitability and cash flow in the coming quarters. The path to profitability is a road that we’ve been that we’ve been paving for some time and due to the positive financial growth in 2022 without ballooning everything on the cost side, we feel like we’ve remained quite restrained and with our active management of our cash position and our active management of our burn to continue in the coming quarters, we do expect to see, you know, strong signals that will be reported in our future financials for this year.
Nicole Fernandez-McGovern: Yeah. Thanks for that, Barrett. I do think that’s something that the entire C-suite and the rest of the executive team agrees with you in terms of making this a priority. Next question is, what are your main capital allocation priorities for 2023? You’ve discussed M&A opportunities, the past. Anything else imminent?
Barrett Mooney: Well we don’t have anything M&A related to announce today. We are absolutely looking for opportunities and companies with talented teams. Mostly we’re focused on skill set and product offerings that will expand our reach either by a unique technology or expertise in an industry that varies from our own current markets or things that are related to skill sets and revenue generation in new markets that we’ve been going after and attacking. We are expanding constantly what AgEagle can do and M&A will absolutely be part of that in the future. But in the current economic conditions, it’s best to be prudent and look for the best growth opportunities rather than the quickest or easiest M&A opportunities.
Nicole Fernandez-McGovern: Perfect. Thanks for that. And our last question for today is, could you provide more details on the progress of your efforts to pursue military and government opportunities, particularly with the introduction of the eBee VISION drone? How do you anticipate these developments impacting your sales growth in the upcoming quarters?
Barrett Mooney: Our government strategy is evolving and we are investing heavily in an approach to access that market with the right talent and the right products. We’ve actually already begun to expand the government sales team by adding experienced personnel just this year with a mandate to build up new market access and opportunities. We’re also looking to new drone developments like the VISION and new software features to improve our access to civil government and military markets. We have previously been pulled into these markets up until now, thanks to our great technology, robust design and strong value proposition. This year we’re proactively pushing into the global defense markets by leveraging the same products and features that have made us a great value to the military in the past. With a new team focused entirely on where we can best serve those customers.
Nicole Fernandez-McGovern: Okay, great. So that was our last question for Q&A. It was a great opportunity to showcase the company’s vision and progress, not only in terms of our financial results, but also in our progress in uniting our operational efforts. Thank you all for joining our webcast today and we extend our gratitude to all of our stakeholders for their unwavering support. Barrett and I look forward to sharing our continued progress on our next corporate update webcast. Thank you and good afternoon. Operator, back to you.
Operator: Thank you. This does conclude today’s conference. We thank you for your participation. You may disconnect your lines at this time and have a wonderful day.
