Victor Dellovo: We have done some measuring internally, which I’m not willing to share, but we look at the initial opportunities based on the conversations we have, and we do have a pipeline that we’re managing against. We have seen with some of the initial conversations started and we put an estimation of x amount of dollars. And as the conversations went on the pipeline actually increased based on other needs and other people we talk to in the organization. So yes, we are putting a pipeline in estimation of revenue that we’re managing internally based on the initial conversations that we’re having with each and every organization.
Operator: Thank you very much. Your next question is coming from [Mike Price], who’s a Private Investor. Mike, your line is live.
Unidentified Analyst: Thank you. Good morning. Thanks for taking my question. I know that you want to have wider distribution of shares and shareholders. But with $120 million market cap and what you paint in front of you with AZT and having $27 million in cash, it seems like there’s a room to be buying shares. I’ve asked this question each of the last three conference calls and you have the authorized shares, but you haven’t bought any shares. Any thoughts along those lines?
Victor Dellovo: Yes. Over the last quarter or two, when the stock was higher than it is currently, we didn’t see the need – but as – at this price level, we are definitely considering supporting it and buying shares in the upcoming quarter.
Unidentified Analyst: Okay. All right. Thank you.
Operator: Thank you very much. Your next question is coming from Sergio Heiber of Heiber Research.
Sergio Heiber: Hi. Good morning, guys. And congratulations on huge improvement on the bottom line. I think you gave investors a head [indiscernible] in looking at the reaction today to the news, investors are used to seeing improvements in the topline and not the bottom line. So I think that that’s fantastic that you’re concentrating on that. And I was wondering if you can give us some color on bundling area with the major security products like, for example, with Palo Alto.
Victor Dellovo: That is definitely an option. We do complement if it was a Palo Alto or a CrowdStrike or any of the other players, we can work in conjunction with all of them, especially where some of the old licenses in the XP world or Windows 7 that they may not be supporting, we can definitely take over any system that’s running an older version. It’s up to the customer, if they love the Palo or the CrowdStrike or whoever they’re using, they can continue using it and we will work side by side. If they see us as a product that they want to fully implement across the platform, we’ll be more than happy to take all the business. So, yes, we are not looking to rip and replace any of the major players out there at this stage of the game.
Sergio Heiber: So – but we’re not bundled directly so that it’s sold, like, for example, Palo Alto will include your the area with the Palo Alto product?
Victor Dellovo: I would love to get that relationship going. If you have any context, could that – could help do that? Please let me know.
Sergio Heiber: So you have a contact with the unnamed company, which I think is Palo Alto, and that’s why I’m asking that. I know you can’t answer because – so I’ll go on to another question. Can you talk about why the dividend was decreased?
Gary Levine: Yes, we looked at it from the standpoint that if we took the shares in, it would have been really at $0.025.
Victor Dellovo: So. Yes. So we went to $0.03, yes.
Sergio Heiber: Okay. And are you going to be giving…
Operator: Apologies, you’ve had your allotted questions. If you do have any more, Sergio, you can press Star 1 and join back in the queue. All right.
Sergio Heiber: All right. Thank you very much.
Operator: Thank you. Your next question is coming from [Paul Scolardi], who is a Private Investor. Paul, your line is live.
Unidentified Analyst: Hello, gentlemen. Two quick questions. First of all, we constantly see in the news of the government warning against threats, threats against utilities, water utilities, all utilities. Can you give us some color on are we approaching this industry? Have we approached the industry? Are we getting traction? Are we getting the government aware that we have a solution to what they’re warning about?
Victor Dellovo: To summarize it, yes, on all parts. We – I have mentioned, just a few moments ago, that we are focusing on the energy, the water treatment. We’ve done marketing outreaches to all of them. We’ve done – we’ve talked to individuals that shows – and we are – mentioned – I mentioned also very, very close to signing one of the largest government distributors out there that would allow us to do business directly with these different agencies, that would speed up the process because the distributor holds all the necessary contracts that would allow us to move through the system as quickly as possible. Let’s put it that way. But yes, it’s all over the news. You cannot not see it. It’s definitely something we’re – we focused on and some of the trade shows, these folks show up there, and we’ve had conversations with them. But as I mentioned…
Unidentified Analyst: But your people going out to the water utilities?
Victor Dellovo: If they will take a meeting, absolutely. We still believe it or not, we’re still in the world and nobody really goes to work any longer, mostly everything is over Zoom. They may go in once a week, twice a week. So a lot of the calls are over Zoom, but those conversations are happening.
Unidentified Analyst: Okay. And then last question, with AZT, we haven’t – but can you give us some visibility now that you’ve been in the market trying to – with these large companies may take time. I mean do you expect to be in this fiscal year 2024 to be closing AZT contracts? Or do you think the sales cycle now is going to – this is a longer-term story now that you’ve been in the marketplace? Or do you expect this start closing contracts. You closed some already. Should we expect to see in this year and you can’t predict the future, but you’re the CEO, do you expect to see AZT contracts continue to be signed in this fiscal year?
