Harsha Agadi: Thank you.
Operator: The next question comes from Eric Swergold of Firestorm Capital. Please go ahead.
Eric Swergold: Thanks and welcome Harsha and Bond to the team. Two questions, first of all, can you go into a little more detail on the amendments with ProFrac and how this can help your margins there? And the second is the only thing really missing from this call today is Harsha, I know this is not your first rodeo of bringing companies back from unprofitable to profitable. It might be helpful for some other people, who haven’t had the chance to meet you yet to hear about your experience turning companies around? Thanks.
Harsha Agadi: Sure. I think on the amendment, let me address that first. So officially, I got here I think January 19th and the amendment we closed within the very first week. ProFrac recognized how we had stepped up above and beyond to service them. And in appreciation of those efforts and recognition and the kind of service we’re giving, they committed to an increase at $0.40 per gallon and without going into a lot of detail, that’s millions of gallons going through and that has made a significant difference to our business. And in fact, we are now running positive gross margins unlike the past, so that’s one very big difference. On top of it, the cost savings and other things will also make a difference. I think in terms of the second question on my own history, I am familiar through a lot of my private equity work and training, as well as having been involved with more than one public company as CEO that ratcheting costs down and holding it tight as revenue is increasing is the key to many businesses and we are singularly focused on getting into positive EBITDA, as well as making sure the shareholder experience is robust at Flotek.
So we are doing all of those efforts, I have come into very difficult situations in the past and we’ve been able to turn around double and triple EBITDA as well. Now I will say this, I have been very lucky here walking in that Bond actually was hired before me. And I said to Bond, I think, God was looking at us kindly as Bond said, yes, they’re coming to work for this company. Ryan, who has been through a lot of pain, has chopped a lot of wood, rightly deserves to be the President of the company, is also extremely able. Remember, I’m not from this sector, so there’s a lot of learning I got to do. But between Bond and Ryan, they are leading the company on both sides aggressively and shareholders will be pleased as each quarter passes. It takes time to get the cards, we’ve now put all of it in place, not precisely on day zero of my coming in, it’s taken a few weeks and in some cases a month, but now we’re going to start seeing the benefits as each month progress.
I hope I’ve been very clear. I think the last thing, Eric, is I am also fixated on stock price. So to me that’s the ultimate return and we have got to have positive EBITDA price will take care of itself automatically in medium term setting. So to me, let’s focus on EBITDA, let’s get the top line continuing to move and eventually the stock price will follow. Thank you.
Eric Swergold: Thanks very much. Also, can you comment on ownership at the board level? I know the Chairman has bought stock quite a few times and I know there was a time about a year plus ago that you also added a stake in the company. Can you comment on board ownership? Thanks.
Harsha Agadi: Sure. The Board is committed very much and the executives at owning more stock, as well as buying stock more importantly. We’ve gone through, I’ll call it, a series of closed windows, but I think we’re going to be opening that up. So we will all have an opportunity and you should see a demonstration of us buying our own stock as Executives, as Board Members, so you’ll see that step up. And frankly, it’s good value, so to me, this is actually some of the best time to buy. As you know, there are strict SEC guidelines on open and closed windows, we will examine that shortly. And as far as I can tell, we should be able to open it up here pretty quickly. So I think that also will be very positive. And I have always bought stocks of the company I worked with, that’s been my consistent practice, both private, as well as public.
Eric Swergold: It’s been a very helpful call. Thanks very much, gentlemen.
Harsha Agadi: Thank you very much, Eric, for your support, as well as Don and others for continuing to believe in Flotek and the team itself is very, very strong. I think we may have one more question.
Operator: The next question is a follow-up from Jeff Robertson of Water Tower Research. Please go ahead.
Jeff Robertson: Thank you, Ryan. Just as a follow-up, you mentioned increasing the Flotek’s capacity for in-basin supply and number of delivery points. Is that — are those delivery points also helping you all seek out third-party transactional business as you look out in €˜23?
