Vincent Arnone: Under a cap and trade type system, that that’s exactly how it would work.
Marc Silk: All right. I mean, so the positive is obviously this doesn’t make sense to pursue – to pursue now as your company is trading below cash, but it just I think brings awareness that it’s an interesting investment and potential takeover target but you don’t have to comment on that. Let’s switch to DGI for a second. So congratulations on the success of the pilot. So if you and Mr. Deckerdiscovered maybe any areas in this industry of low hanging fruit for this product?
Vincent Arnone: Bill has a couple of thoughts in mind where there will be low hanging fruit, we believe. I think our next demonstration is likely going to be one of those areas that we are going to be targeting, but it’s not something that I can speak to at this point in time, but it is a demonstration of where we’re looking engage in as we move into the first quarter of next year, but Bill has been working diligently across his body of relationships in multiple industries to indeed do just that. Find those areas that could be an immediate fit for DGI. To be honest, aquaculture came as a little bit of surprise to us, but as we found out, it’s an area that is really perfectly suited for the DGI application, but Bill has some other targets in mind as well.
Marc Silk: So also some of the areas that aren’t low hanging fruit, but it makes sense to concentrate on, i.e. lucrative future deals, would those be mixed with reasonable sales cycles or it’s going to be another one of these 100-day type of experiments or just because you already showed success in this, maybe it shortens the timeframe?
Vincent Arnone: Yes, if past practice relative to how Fuel Tech has done business, it comes to true – it comes true with DGI. We’ll probably need to have more demonstrations than not, particularly at still at the beginning of the commercialization of the product because everyone is going to want to see proof of concept at “their facility” as opposed to just making the assumption it’s going to work immediately, but as we do have, what I would call, repetitive business, in specific end markets, I think that should diminish over time.
Marc Silk: The other question is, just in general, have you looked into like some areas that you could potentially have some recurring revenues as that would probably knowing you open the doors every year that there’s money coming in the door could definitely help the valuation of your stock?
Vincent Arnone: Referring to DGI specifically or?
Marc Silk: Just any part of the business?
Vincent Arnone: Yes. Obviously we have really been fortunate to enjoy the recurring revenue that we’ve had from our CHEMTECH business, unfortunately that has diminished over the past decade or with the heavy focus on reducing the utilization of coal.However, that being said, we are looking at trying to find other ways whereby we can enhance – we can enhance our recurring revenue platform, whether it be spare parts and services for our systems or anything otherwise, because recurring revenues are, obviously fabulous to have in hand and typically the higher gross margin than our typical system sales.So it’s something that we are working on as a company.
Marc Silk: Great. And lastly, I appreciate you buying stock after last the quarter’s earnings around $1.20. We would be nice to see more insider buying from the board and upper management to give shareholders confirmation that you believe in the future growth of the company, so with that I will say thank you very much for taking my questions.
Vincent Arnone: Thanks Marc, have a great day, appreciate it.
Operator: Our next question comes from James McIlree from Dawson James.
James McIlree: Thank you and good morning.
Vincent Arnone: Hi, good morning Jim.
James McIlree: Can you discuss the gross margin outlook for Q4 given the revenue outlook, it sounds like there might be a little bit of decline particularly, well actually it seems like there might be a little bit of, gross margin decline for both businesses in Q4 relative to Q3.Do I have that right or about right?
