Shane Torchiana: Yes. This is Shane. I’m happy to take the first two, and maybe I’ll let Ben talk about the third one. So on the run rate cost question, that 120, 130 number is not just our exit rate for the year, but what we would expect to be able to achieve for the full year in ’23. So we don’t see that creeping up materially next year. I think that’s actually a very, very important focus for me and the rest of the management team, as I mentioned, not letting that number get higher. And then on the cohort data, the retention data, look, same-store sales continue to be healthy, if you want to think about it that way. Retention data I think has improved slightly, although we’re not publicly disclosing that. It seems to be healthy.
And then I think the most important thing as we think about our sort of existing markets is one, what we’re actually seeing in New York City right now where there’s just an RFP released where they’re only operating in the Bronx right now and they’re extending that to four out of the five boroughs, everywhere but Manhattan. That trend continues to be the case in almost every major market that we’re in. Very rarely are folks shrinking their footprint. Certainly, the average trend is to increase the vehicle supply or cap in those cities. And then, of course, as we roll out the technology that I was just talking about for vehicle placement, we do see upside, as I alluded to, of higher rides per vehicle per day as we think about our vehicle locations and not just putting them in the same place in the center of the city, but spreading the field out a little bit to match that very, very local supply at the street corner level to the very, very local demand.
Ben, maybe I’ll get it back to you on the kind of cash question and going concern question.
Ben Lu: Yes, sure. Thanks, Eric, for the question. So think about what going concern is? It’s basically a downside stress test that auditors perform over a go-forward 12-month period. And I would say that we’re continuing to explore multiple levers to reduce cost and to preserve capital. And as we noted earlier, we’re exiting unprofitable markets that should provide a positive benefit to gross profit dollars. We’re further reducing our OpEx you heard by another $30 million or $40 million on an annualized run rate basis that should be realized by early 2023. And we’re going to be much more prudently managing our CapEx spend, such as, for instance, converting some of our vehicle deposits into cash mutual vehicle purchases so that we don’t need to outlay any additional CapEx dollars.
We also have, as I noted in my script, about 48 million shares from e-Lock that we can issue to raise capital as the market conditions dictate. And so we continue to explore various other capital fundraising opportunities, and we’ll obviously provide updates if that ever happens. But what I would say, Eric, is that we believe these actions are necessary and will going to best position us to achieve our goal of becoming EBITDA positive and to be self sustaining.
Eric Sheridan: Great. Thanks for the color.
Operator: Mr. Torchiana, there are no further questions at this time. You may continue with your presentation or closing remarks.
Shane Torchiana: Well, thank you. Thanks everyone for dialing into our call and definitely would love to hear from everybody again next quarter.
Ben Lu: Thank you all so much.
Operator: And that does conclude the conference call for today. We thank you all for your participation and kindly ask that you please disconnect your lines. Have a great day.
