Coda Octopus Group, Inc. (NASDAQ:CODA) Q2 2023 Earnings Call Transcript

Walter Ramsley: Yeah. Sounds great. Thanks for answering all those questions. Congratulations.

Annmarie Gayle: Thank you very much, Walter.

Operator: Our next question comes from the line of David Wright with Henry Investment Trust. Please proceed with your question.

David Wright: Hey, Annmarie. Good morning. Thanks for having the call.

Annmarie Gayle: Good morning.

David Wright: Question, can you tell us the status of the search for a permanent CFO and whether or not you have a particular geography in mind for that CFO would be stationed.

Annmarie Gayle: Thank you very much, David for your questions. Yes, that’s ongoing. We’ve had a number of use (ph). Well, the position is opened, both in Edinburgh and in Orlando. And so we’re having some good quality conversations at the moment, and we’re hoping to make an appointment, in the next more number of months. So that’s where we are. But we we’re getting some good quality conversations and we’re hoping, as I said before to make an appointment in a small number of months. But of course, we want to emphasize, we want to make sure the right candidate for Coda Octopus.

David Wright: Okay. And just to go back into the script, I wanted to make sure I didn’t — I didn’t misunderstand you. When you were speaking right after describing the DAVD adoption curve and going through, you got to untethered and talked about what was going on with untethered. And then I thought I heard you refer to something called the saturation diving community. Did I understand the word saturation correctly?

Annmarie Gayle: Yes, you did. Exactly. Those are new communities that coming out of the SWOD that we — the SWOD event we attended in Papendrecht in the Netherlands and also at the Military Continuum in the U.S. We started conversations with different teams, including the deep diving saturation team. So these are new conversations that we’ve started and for around the DAVD.

David Wright: Okay. If you have another minute, could you just kind of briefly describe what is saturation diving?

Annmarie Gayle: Well, I probably, it’s just deeper diving where you dive in like a chamber environment. So it just means right at the moment, we’re doing more on surface diving and we sometimes dive a little deeper at the dive belt, but the saturation diving is much deeper diving and that’s where you would have things like the diving suits, and that’s really where the technology would be embedded in the diving suits.

David Wright: Okay. Well, thanks for the elaboration.

Annmarie Gayle: Simply deeper diving.