Fraser Atkinson: In terms of the short term, Craig, the — Michael and his section commented on the onetime charges that we had made, which in part relates to your previous question that as we’re realigning our business and working capital and changing the mix in terms of finished goods and work in processes we have incurred some onetime impairment costs on our inventory as we make that transition. So that we expect is a short-term proposition. And as we get into a continuous production flow where the inventory is aligned with all of that, then that’s going to help the margins as well.
Craig Irwin: Excellent. Well, congrats on the progress here. We look forward to watching the continued steps forward.
Fraser Atkinson: Thanks Craig.
Operator: [Operator Instructions] Next question is from John Gay from Quiet Investor. Please go ahead.
John Gay: Good morning, guys. And congratulations on the continued progress. I sensify the numbers vehicles sold that Workhorse is not in the mix by much, if any. Is that true and if so, how do we look upon that so called contract?
Fraser Atkinson: Sorry, I cut out there. The — well, we don’t — we haven’t pointed out specific metrics for our customers over the last number of quarters. And we did comment in our earlier remarks that while we have not had some cab and chassis deliveries, we are currently working on schedule in terms of future deliveries for our cab and chassis. So there’s been a short-term pause, and we expect to have that resume in the not-too-distant future.
John Gay: Okay. Thank you.
Operator: [Operator Instructions] And the next question is a follow-up from Greg Lewis from BTIG. Please go ahead.
Greg Lewis: Hi, thanks, and good morning. Sorry to hop back in, but I did want to understand — I thought it’d probably be good to understand. So congrats on the $5 million revolver. Are there different hurdle rates, i.e., that could be achieved where you could come back and expand that maybe to $8 million, $10 million just as we kind of get through as we get production going, I would think you’ll probably outgrow that $5 million number. Mike, any thoughts around that?
Fraser Atkinson: Well, first go ahead, go ahead, Michael.
Michael Sieffert: I was going to say, first of all, we are very appreciative of the support from EDC. We think this is a very efficient and well-priced facility for the company. But to answer your question, yes, there certainly is the opportunity to revisit this in terms of size over time as our business grows and we can certainly look to upsize this. But for the time being, we feel this is a good size for the company and we’ll definitely be put to use given the orders we have in place. Fraser, if you have anything to add.
Fraser Atkinson: No, that’s a good summary.
Greg Lewis: Okay. And now I understood it just seems like pretty good attractive financing. So yes, hitting that — building out on that and then expanding that would obviously be super positive for the company. All right, guys. Thank you very much.
Fraser Atkinson: Thanks Greg.
Operator: Ladies and gentlemen, this concludes our question-and-answer session. I would like to turn the conference back over to Fraser Atkinson for any closing remarks.
Fraser Atkinson: In closing, we delivered the first 4 Type A Nano BEAST school buses manufactured in West Virginia to four school districts in the state and started production of our larger Type D BEAST school buses. We delivered 10 EV Star Cab and Chassis to the Canadian unit of a global retailer who will upfit the vehicles for fulfillment of orders to their customers in Toronto. We delivered the first EV Star Cargo refrigerated van to a California University, and we launched the Mega BEAST with twice the battery capacity of the BEAST, providing a range of up to 300 miles on a single charge. We made significant progress while increasing our cash position by $3.3 million from the start of the fiscal year. Subsequent to the quarter, we secured $5 million of production financing from EDC who have also guaranteed $5 million of standby letters of credit, which vastly improves our manufacturing capabilities.
Thanks for your support. This concludes the third quarter earnings call for GreenPower.
Operator: And thank you, sir. The conference has now concluded. Thank you for attending today’s presentation, and you may now disconnect. Take care.
