So whether it’s Michelle Bernstein in Miami or Rodney Scott in Charleston or Stephanie Izard in Chicago, we’re hopeful for that. And I don’t know if many of you listening saw the profile just was last week in the New York Times about just the proliferation of membership-only restaurants in Palm Beach in Florida where I’m from. Interesting profile in The Times. We see that just burgeoning. And by the way, if you’re not familiar with this concept, I mean, the initiation fees to join a restaurant-only club in Palm Beach start at $10,000 in many places, routinely $20,000 and there are some that go as high as $250,000. That’s quite an initiation fee for a restaurant that you then go pay to have a meal at. So this type of idea of private membership clubs, which — and the hybrid, that’s what Nina will do, open to the public, but also private membership club is something we’re very interested in and that we feel we’re uniquely positioned to promote.
And that could be a massive growth driver. I’m not just talking about ShaSha but just the general category of those type establishments over the next 3 to 5 years and because the economics are extremely appealing, if you can market them and get the membership. So it seems like we’re well positioned to help people that want to do that.
Allen Klee : My last two questions are financial related. First, how do you think about operating expense growth in ’23 relative to revenue?
William O’Dowd : Well, you’ll see the jump in SG&A in ’21 or ’22 to ’23. It will also be a little bit of a jump in ’23 — sorry, ’21, ’22. It will be a little bit of jump in ’23 as we have Socialyte for a full year. But we don’t expect operating expense increases beyond typical payroll increases. We — like where we are in terms of operating expenses. Some of it will go down because, again, we’re not expensing the building of an NFT business. But I don’t expect any surprises. Obviously, we highlighted too the change in audit firms was an expense that we didn’t anticipate prior to the year. It’s a onetime expense of $600,000. We don’t anticipate having that again this year. So — and other related expenses to the change in audit firms. So yes, we feel pretty good about not having some of the recurring. Some of those onetime costs just won’t recur. So we don’t anticipate anything on the horizon that would cause our operating expenses to jump up.
Allen Klee : Okay. Great. I don’t know if you can answer this. Maybe I could ask this offline, but I just was trying to get a sense of your operating income for the quarter was around minus $3 million. But then, if I add back the various onetime items you mentioned, of impairment of goodwill, changes fair value of contingent, nonrecurrings, I think, I get to around of — kind of — this is back of the envelope, adjusted EBITDA. I don’t know if you can tell me if a sanity check on that makes sense or we could take it off-line.
William O’Dowd : Well, we can go through each of those numbers offline, I’d be happy to do it, yes. I mean we have relatively significant noncash expenses and then there’s onetime charges. So it’s kind of why we highlight it. So people can see that we’re — we hit $40 million of revenue, but we expect to do double-digit growth on that this year. It wouldn’t surprise us if we’re . And we expect to be EBITDA positive. We measure ourselves by operating income and taking away the noncash charges like depreciation and amortization. That’s how we know if we feel like we’re doing well. So we’re transitioning Dolphin into that stage where we’re — we want to be and expect to be cash positive on an annual basis. And then we have these 2.0 opportunities such as provide that really great upside.
