Warren Kruger: Well, we realize and we’ve had this discussion for 20 years, why in the world we were public early on and so forth. And because we’ve never raised money in the public sector, and it was just — it was a legacy thing inherited, and in the beginning it was just like, oh my gosh, this — why are we doing this? Well, it was a way for those who had put money in who could get out if they wanted. So we — I recognize that there are a lot of people who will not invest in OTC companies. And that affects who — eyes that are upon our stock. And so we recognize that. So we also recognize that we’re still — I mean, I’m proud of the size we are, but we need to be heading towards a $100 million range, and we need to be that way.
And so we — well, we want to do what’s best for the shareholders, and so we’re going to continue to work. I would say [Technical Difficulty] in an anticipatory way, we have talked about how best to help our existing shareholders, and we will be talking about that — our next Board meeting’s September 11th. And there’ll be — I know there’s a multiple things on the agenda at that. And some of that is about exactly how do we best enhance our shareholder value.
Operator: We’ll now take our next question from Robert Edwards.
Unidentified Analyst: Hey, guys. I’ve been in the stock since 2015, and I got a question about the plastics that you can recycle and not recycle. There’s talk of like plastic bags and certain plastic — plastic bottles that cannot be recycled. Can you guys recycle those things or not?
Warren Kruger: We — I will tell you, we [Technical Difficulty] focus on that type of plastic at all. And I will say one thing about the plastics world. There are so many different types of plastics. It’s crazy. Like PET, all the water bottles out there in the world, we don’t do one thing in the PET world. Not one thing. The bottle caps for most PET, like water bottles or Coke bottles, those are polypropylene. So, we don’t do a lot in the polypropylene world. We really focus on polyethylene. And I’ll tell you — I’m going to tell you a little history lesson here to explain this. 20 years ago, we had — we were doing everything under the sun. We were — you talk about buckets, 55 gallon drums, [Technical Difficulty] bottles, we did [Technical Difficulty] sun recycling, and then we bought wash lines and we’ve [Technical Difficulty] and wash plastic and so forth.
Well, after 20 years of making plastic pallets and other people making plastic pallets, most of our — I will say the majority of our stream now is plastic pallets. So, it’s just shocking how many plastic pallets — I would say, and I’m — this is off the top of my head, I would guess we probably grind or granulate 700,000 plus plastic pallets a year. It’s just amazing. So, that’s the source of our [Technical Difficulty] it’s just [Technical Difficulty] we are now keeping that site alive by taking those plastic pallets and grinding them up, making BBs and making new ones.
Operator: [Operator Instructions] We’ll take our next question from Joe Russo.
Unidentified Analyst: Hey. Thanks for giving me another question. I’ll make a brief. But I was just curious, like we’ve had price increases on the plastic side, then price decreases. How does — what is like pricing for a plastic pallet now versus a wooden pallet? What’s the sort of like the multiple that customers would need to pay?
Warren Kruger: Thanks Joe. And I will — I’m not going to be shifty on this. I’m just going to say that there is a wide range of different types of products on both the wood side and on the plastic side [Technical Difficulty] go to what we do really like iGPS or Walmart. Those are heavy duty, 48×40 plastic pallets. Those would be — if you go into a Costco and you see — they’re called — in the wood industry, they call them block pallets, because they have blocks in the corners. And those block pallets and they’re blue or red, a lot of those are rented pallets by a company called CHEP or called PECO. And they rent those block pallets. Well, those block pallets are about $30 a piece. And those, they have [Technical Difficulty].
And so ours is not quite twice that. And so if you get a 100 times life, you can see the value proposition [Technical Difficulty] a wood [Technical Difficulty] statistically across the United States of America, when it goes out on a trip, it’s touched 7 times. So in other words, it’s offloaded off a truck. It’s put on the factory floor. It’s touched 7 times before you retrieve it again. And that after three turns and one turn is seven touches, they need repair or replace. So, that’s the wood pallet side. And as ours, if we’re a $60 product there and it’s damaged, we’ll take it back in and buy the plastic at the commodity value at that time. So, it’s really — it’s economically, it’s extremely more beneficial for people to use plastic.
It’s always been that initial cap [Technical Difficulty] front side. The other thing that — always an impediment in the plastics world is the wood pallet industry, they have a very, very, very strong lobby. And so for years they’ve lobbied that plastic pallets are dangerous in a fire situation and that they should have plastic — that they should have fire retardant additives. And it’s made it very difficult for us in the plastic industry because there are people like Costco who said, hey, we — our management personnel tell us we have [Technical Difficulty] a fire retardant plastic pallet. Even though they’ve got wood all over the place and they’ve got plastic on every pallet in the entire store, they focus on that. And that’s just a result of the lobbying of the wood pallet.
That’s in my opinion. So, we are working on fire retardant solution. We had one 20 years ago that unfortunately had a product called decabromine in it, which is no longer allowed. So, we’re working on some fire retardant solutions add to our plastic pallet, which will drive up the cost, but it’ll allow us to — the ability to get in Costco in a big way.
Operator: Next up is Russell Valentine. Russell, your line is now open.
Unidentified Analyst: Yes. I’ve got two questions. I called last time. Just want to reiterate again, no plans of reverse split, right?
Warren Kruger: Let me say [Technical Difficulty] I anticipate [Technical Difficulty] there are certain rules and requirements if we want to move up to a different level on shareholder price. And I’m not an expert at that. We are hiring experts in that arena, because if we want the maximum exposure we can, we want people to know about our company. And we believe that if we continue to add revenue and [Technical Difficulty] margins on revenue and grow, then we can go to another level. And so…
Unidentified Analyst: I understand that, but you know that there’s very rarely a time when you reverse split that it comes out positive for the investors.
Warren Kruger: I agree with that. I’m just — I’m not going to preclude anything. I know that we have — that has not — I’ll tell you honestly, that has not been one of the discussions in our Board meetings [Technical Difficulty] has not been [Technical Difficulty] but I’m also reluctant to say — once you say never, never is a long time.
Unidentified Analyst: One more question. I hardly ever see any news coming out on new business. Do you guys — when you do new business, do you put press releases out or not?
Warren Kruger: [Technical Difficulty] smaller stuff [Technical Difficulty] periodically. I will say I have been advised by some very competent people that I don’t put enough information out. And so we have — that’s Brendan is — who started this call. We hired Brendan to help us. He’s helped us, and we are doing more in that arena now to get exposure out there and to communicate our story and what we’re doing. So Brendan’s very, very easy to work with and good to work with. And [Technical Difficulty] we will continue to see good results from that association.
Operator: It appears we have no further questions. I will now turn the call back over to your presenters for any additional or closing remarks.
