So, as we progress forward, we’ll, we’ll make executive decisions to manage through that. We believe that we have the type of relationship certainly we did that at the onset of COVID when it first started. Certainly, that’ll be a continued conversation with our partners and we’ll continue to be mindful and respectful, of that relationship. But certainly take a look at the consumption and kind of, navigate through that. As it relates to, how do we secure better pricing and lab grown diamonds? I alluded to it a little bit within this conversation. Our goal is to become more vertical in this space and become an active player, whether we become the grower and then go from grown to market, that’s a, a much bigger conversation. That may come in time, whether there’s a partnership like a wolf speed scenario that could come to fruition where we could literally procure the rough.
I can tell you that right now we’re ongoing R&D and test, and we’re cutting and fastening our own rough. So that is provided by a strategic growing partnership that we have. So that’s going to get us more vertical. We believe that that’s going to hedge against any pricing pressure. We believe that that’s going to get us more competitive and we believe we’ll become a bigger player, much like we are in the moissanite world, where we basically facet and cut more moissanite gemstones than anywhere in the world. So, we anticipate one day that will be a factor in that space. So I hope that answers this. Questions on that.
Adam Lowensteiner: Next question is on inventory. Is the percentage of inventory mix changing and he’s talking about the increase in finished jewelry and the decrease in loose jewels?
Don O’Connell: Yeah, so certainly the goal is to provide more value to our shareholders, right? So, in the past, what I’ve learned is, it’s a very simple exercise, right? You want to be able to maximize the value of your inventory. We’re fortunate that we’re dealing in commodities and that commodities, albeit somebody say the fiat money system, people say different things, but gold is gold. Platinum is platinum. So the market dictates the value of that. So when you see our inventory and you look at finished jewelry and finished goods, the valuation of that inventory is exponentially higher because it has that high gold concentration or intrinsic value that’s very easily calculated on a balance sheet. So look to us to continuously build out, finished, jewelry because that’s where we’re going more direct to consumer, and that’s where we believe is the best path forward for us as a company.
Also, keep in mind as we, build out our drop ship programs and our partnerships, there’s certain SLAs that are in place, which are service level, agreements that are in place that we need to maintain inventory stock and everything. So we need to maintain those inventory thresholds to be able to support them. And also as we start to see the shrinking pie of wholesale distributors or the distribution of loose gemstones, because basically they’re experiencing other pressures, we actually did a consolidation between our partners and our distribution partners. So there’s less of them. We’re actually pushing our goods into more individual pieces than selling 500, a 1,000 of a number. So look to us to decrease our loose jewels inventory too as well, and we believe that that’s a good thing.
Gary, I think we have one more caller.
Operator: And the next question is from Jack Straub, a private investor? Please go ahead.
