Graham Mattison: All right, great. Thank you so much. I’ll jump back in queue.
Operator: Thank you. The next question comes from the line of David Wright with Henry Investment Trust. Please proceed with your questions.
David Wright: Yes. Hi. Good morning. Thank you for having the call. Question for you Annmarie. And talking about Echoscope, you said quite a lot about it being good for being in the dark things moving around. But you’ve also used the term subsea several times. As I understand it, subsea is what’s going on below the ocean floor. First, I guess it wouldn’t be much stuff moving around. Can you straighten me out on my understanding of the use, right?
Annmarie Gayle: Yes. Yes. Yes, that’s probably some equality, some laziness in technology. What are think about it as underwater then it’s anything underwater. And so in our industry talks, without having that precision that you’re talking about, but what we mean is just anything underwater.
David Wright: Right. So Echoscope is that also a below the ocean floor product?
Annmarie Gayle: It’s not below the ocean floor, it’s anything underwater?
David Wright: Got it? Okay. And then looking at your IR deck, it seems different people are in different places. For example, it says the year in Denmark it says that the Nathan’s in Orlando, can you talk about who’s where? And what’s done where?
Annmarie Gayle: Yes, certainly. So the biggest part of our operation is in Scotland in Edinburgh. And there is where we have our Center of Excellence for R&D, and where we do our innovations, and also our manufacturing. Having said that, we’ve started the process of transferring the U.S. side of the DAVD development because that’s a requirement of the U.S. that we produce the DAVD in the States that we’ve started, that was interrupted by COVID. But we’ve started to build up our manufacturing capability in Orlando for the DAVD. But outside of that, for the products business, all of the development and manufacturing is done in Edinburgh. And that’s where we have the largest part of the team. Then also in the U.K, we have particle engineering business, which is Coda Octopus market.
And that is in Dorset. And in Orlando, we have our President of Technology, Blair Cunningham, and that is really exchanged office more than anything else. And really, where we have our relationship with the Navy, we do a lot of work with the Navy outside of our out of our Orlando office. And then Nathan listen, as you said, Coda Octopus Colmek where he’s co-locating there. And Colmek is our engineering business in Salt Lake City. So that’s really the spread of the business. And we have because of Brexit, we have a small office here in Denmark, where I’m based, because then with the U.K. leaving the European Union, it’s really important that we have a presence in the European Union and we’ve established small office here, which are base, but my I actually live in Denmark.
David Wright: Okay. And that’s a question for Nathan, in terms of the company’s cash. Can you tell me where it’s held geographically? And also how you have it invested?
Nathan Parker: Yes, so for our cash, again, it’s around $22 million, $9 million, so $8.8 million of that is in foreign and our foreign subsidiaries? And around $14 million of that is U.S. based.
David Wright: And then how do you
Annmarie Gayle: Just to be more specific, sorry, is to say that the bulk of that cash in the foreign subsidiary is based in Scotland, HSP, Scotland, so
David Wright: Right. And then your U.S. cash union? Do you have any of that invested, you could be earning quite a lot of interest, I imagine.
