Ben Klieve : Thanks for taking my questions. The first one on fourth quarter performance specifically within GoodWheat. I appreciated your comments on the sequential challenges from Zola and body care businesses. Could you provide a little bit more granularity around the performance of GoodWheat from the third quarter to the fourth quarter? Did the revenue pickup from third quarter to fourth quarter, did you see similar headwinds in that product specifically on a revenue front?
Stan Jacot: I’ll let T.J. answer that one.
T.J. Schaefer: Yes. Thanks Ben. So from a GoodWheat perspective, we are still in launch phase having only launched this in June. And so from a Q4 perspective, there obviously was a slowdown in the new store count growth. And so that does have an impact on GoodWheat sales in Q4 relative to previous quarters where we’ve been doubling distribution.
Ben Klieve : Okay. So then I guess a follow-up to that in some of the early adopters for this product that have been selling products since June. Did those locations see increase or decreases in revenue from the third quarter to the fourth quarter that had kind of a same store sales type number that you can actually have there?
Stan Jacot: Yes. Ben, this is Dan. What we’ve seen in the market is that velocities have been steadily improving from when we first launched these products. So that’s where the — it takes some times a while for the lost increase to show up in revenue because there are still inventory that’s in the markets and the launch, the pipeline fill.
Ben Klieve : Got it. Okay. And then turning to the distribution losses in Zolo loss rate. Can you kind of elaborate a bit more on these and most notably are these distribution losses that you still maintain relationships with that you think may come back online in 2023 or are these kind of permanent losses that you’re seeking to replace particularly on Zola, but do so from a kind of from square one?
Stan Jacot: Yes. T.J. you want to take that?
T.J. Schaefer: Yes. So on Zola that is there is an opportunity potentially to win those back. Those were supply chain issues nothing specific to the product or our go to market strategy. On SoulSpring, not likely to win those back. One was a retailer that a rather large retailer that made the decision to get out of all CBD products. The other was another larger retailer that has reduced their CBD set. They decided to keep ProVault but they decided to get out of SoulSpring.
Ben Klieve : Okay. And then I got a follow-up question to what you were just asked about the path to profitability. You said from the launch of Project Greenfield in June of 2022, you had a three year path to profitability and you think that that you’re ahead of schedule on that path. But particularly given what you observed in the — what was seen in the fourth quarter of 2022. I’m having a hard time reconciling that. So can you elaborate a bit more on how you think the path to profitability has been really accelerated over the last six months? And then how much of that visibility that you have is going come from future acquisitions that you may have in the hopper versus organic growth?
T.J. Schaefer: Yes. I’d say what we had been in our model was less cash at the end of 2022 than what we actually delivered. So it’s really about our cash position that was improved through the end of 2022. And yes, acquisitions were always a part of the Project Greenfield model and we do think that that’s going to be a sizable impact once we find the right acquisition in close.
Operator: And thank you. And I am showing no further questions. I would now like to turn the call back over to Stan Jacot for closing remarks.
Stan Jacot: Thank you. So in summary, Arcadia has made tremendous progress over the last 12 months. We’ve streamlined the business by exiting less profitable brands and activities. We’re focused on the most compelling opportunities that will build long term value for our shareholders. We successfully launched GoodWheat pasta and have made significant distribution gains. We’ve increased sales and gross margins while lowering our operating expenses and reducing cash burn. And we have a clear vision for building the future of the company. We look forward to updating you on our progress in the months to come and on our next earnings call. Thank you again for joining us today. Have a great afternoon, everyone.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
