Jennifer Bath: Absolutely, we can. So I mentioned to you all earlier, we’ve made some concerted efforts to reduce our, spend to really make sure that we’re focused on revenue generating activities within the company. Right now, we’re projecting that forward-looking burn for the next 12 months to be sitting at somewhere around $12 million. We will have a need to raise money here in order to continue to support our strategic endeavors, in particular, the software development at BioStrand and probably for some general needs as well. I think the thing that we find really encouraging is that our overall annual burn is just so much less significant than our competitors. And we mentioned in part why that’s the case. But in large part, it’s because of the technology we use – technology that supports our algorithms enables us to not have to focus on more and more coding and more complex algorithms because it takes any amount of information and immediately deduces it to these patents that give you only the information that you need to retreat the insights.
And so, we have fewer needs with regard to the number of personnel. And we believe we’re able to run that in a much more streamlined manner with much reduced cost. So as I mentioned, we’re overall burn annually is reduced to right now. It looks like it’s about 10% of the majority of our AI antibody competitors. And so, the amount that we would need to raise would be pretty minimal. We’re looking at smaller raises maybe around the area of $5 million at some point with the caveat that it’s really important to us to know who would be coming in, what their perspective on their long-term investment is and what sort of contribution – they’re able to make with regard to just the reputation, understanding of our company, intention for really being interested in IPA.
But we are very focused on making sure that these costs – those amounts are minimized, shareholder dilution is minimized, that we’re getting the best cost and deal possible and then yes, bringing in reputable long-term investors.
Michael Freeman: Fantastic also helpful good luck on the upcoming quarter and year look forward to next call.
Jennifer Bath: Thank you very much, Michael.
Operator: We thank you for submitting your thoughtful questions today. I’ll now move us on to closing remarks. Jennifer?
Jennifer Bath: Thank you very much, Regina. In closing, we would like to express our sincere appreciation for your participation in our fiscal year earnings call. We are energized and dedicated to disseminating all of the exciting operational updates to our investors over the next several months. We are committed to bringing new validating case studies and demonstrating how our optimized biotherapeutics discovery tools, combined with truly differentiating AI technology, and revolutionize the cycle of drug discovery. We are enthusiastic about the opportunities ahead as we continue to shape the future of biotherapeutics. Your continued support and engagement are invaluable as we strive to make a positive impact in addressing unmet medical needs and improving patient outcomes.
We eagerly anticipate sharing our progress and accomplishments in the coming months showcasing the power of our integrated approach. Together, we can pave the way for a future where optimized biotherapeutics discovery tools and our pioneering LENSai technology drive unprecedented innovation in the field of drug discovery. Once again, we thank you for your presence, and we look forward to the journey ahead as we embark on this exciting path of revolutionizing the landscape of biotherapeutics.
Operator: That will conclude today’s meeting. Thank you all for joining. You may now disconnect.
