Chuck Ferry: It is. Our system certainly can see doors of any kind on the sides of the cars being opened or not properly occurred and then also sees any of the undersized, any of those hopper cars if they’re open and it can also detect all that. Inside our pipeline, we have — we are in active conversations with three or four large mining companies. And obviously they’re moving large, large amounts and they use railcars. And so a couple of them in fact are looking at potentially purchasing our portal. And part of the question is, they may actually want some of the sub components, maybe not the entire thing, right? Some of those mining companies have also asked us to see if we couldn’t inspect their very, very large real based mining trucks that they have.
I call them the large tanker trucks just because that’s where I remember as a kid. We realized they’re massive and they’re huge. Those operators, I guess, have to get in and out of those trucks to inspect quite regularly and it’s kind of a big deal. So that’s another interesting development that we’ve had here in the last couple of months.
Unidentified Participant: Interesting. I appreciate all. I’ll get my time back here. Thank you.
Operator: Thank you. At this time, I’d like to hand the floor back over to management to answer any additional questions.
Chuck Ferry: Yeah. Thanks. We have a couple of questions that we’re sending. I think by some of our retail shareholders. Thank you. And I’ll read one or two of them off and try to respond. Some of them are pretty good. A good one here is, it references the Rail Safety Act of 2023 and the question is, €œshould the above act pass or something similar does Duos expect to benefit as more thermal inspections are part of the act in its current form. Again, part of the conversations we’ve been part of is that there are a number of different types of wayside detection systems. There is a push by I think the regulators as well as the unions to include the different — several of the different types of wayside detection systems into a legislation that would be acoustic heat as well as machine vision or camera type technology.
Obviously, we’re in the machine vision AI camera technology and those regulators, union members and congressional leaders are keenly aware of the technology that we have and we think it will be an important part of any rollouts if that were to come as a result of this bill. We had another — and that probably another good question from another investor that asked. Firstly, I was hoping you could provide some insight into your competition, full year (ph) main competitors and what sets you apart from them in the industry? We have two kinds of, I would say main competitors. The first one largely is from our good friends over at Wabtec. Wabtec is a very large company and well known inside the rail space. In the last few years, they’ve acquired a smaller company called Venevision, as well as another company out of Australia, which is called Track IQ.
Those two smaller companies with that Wabtec export have a good portfolio of equipment. Venevision in particular has a portal solution. We think that as we should Duos Tech’s solution is a bit more advanced but that’s certainly one of our competitors that you can go do your research on. Other competitors are quite honestly the Class 1 railroads themselves. We’re fortunate to work with three of the large Class 1 railroads as their primary provider of machine vision AI wayside detection systems. But there are other Class 1 railroads that certainly have the and the desire to develop some of this technology on the road. And again, we think that our solution is much more advanced. We’ve invested over $50 million over the last four or five years in the technology.
