Kewa Luo: Okay. Thank you. Go ahead with your question.
Mike Pfeffer : What specifically did Mr. Hu mean by quote I mentioned above? And by referring to Kandi being now capable of full mass production, if this is true, is he referring to the truck being produced as an LSEV? Or is he inferring that he soon expects it to be cleared for full NHTSA registration?
Hu Xiao Ming: So, as to your question, our current model, the K32, is developed according to the standards for the farm vehicles under the U.S. Transportation Department, which belongs to the category of load big vehicles or you can say the LSVE that cannot be utilized on high road. So yes, we categorized our K32 as LSEV.
Mike Pfeffer : Okay. And just last question. As an alternate course, what would be Mr. Hu’s thoughts regarding my comment about the farm truck sales market?
Hu Xiao Ming : Yes, currently, actually, the K32 is in the phase of the test marketing in the U.S. market. And your comments are highly consistent with our thoughts. We believe that once the customers can understand and try our cost, they will know the performance, the user experience that can lead to a larger market in the U.S. side.
Mike Pfeffer : Thank you, and thanks for your comment.
Operator: Our next question today is coming from Arthur Porcari from Corporate Strategy.
Arthur Porcari: Good morning, all. Well, I’m going to change my thing around a little bit. I’m surprised we haven’t gotten the 10-K announced yet. So, I’m going to ask a few questions on basic products first, and then I want to ask a few more questions about these results just came in with. But let’s get back to the product situation. So, with a couple of comments followed by some questions on golf cart. As mentioned in Kandi’s Q1 ’22 10-Q, made public on May 22, we saw the following, “On February 22, 2022, the Seattle Sports and Coleman Powersports signed an MOU regarding the sale of 5,000 Kandi carts — golf carts, value of $29 million, also in the same SEC filing a few days later, another MOU was signed on March 3 with a group of more than 20 dealers, and that was put down to be valued about $39 million also for another 5,000 units.
While both were mentioned in the 10-K, PR and SEC filing, which didn’t come out until May. So, several months later, there was never a PR dedicated to either of these, which likely could be Kandi’s largest EV contracts to date. And also, to date Kandi has never publicly identified to the public, the Coleman carts cards were primarily for Lowe’s Corp., one of the nation’s largest big-box store chains that prominently showcases the Kandi carts with the Coleman front plate. And they put them outside the front entrance, mine actually has seven of them right now. They started with two, and they’ve been selling them, and I guess, because I’m down here in the south. But considering there’s 2,400 Lowe’s stores, the potential looks great there. Go ahead and pass that on to I one more comment to make in my questions.
Kewa Luo: Go ahead with your questions.
Arthur Porcari: Okay. So, nine months after that original last statement back on November 29, the company made its first freestanding press release on golf carts when already surpassed the 10,000 contracted level, an amount call for these first two accounts alone. A few weeks after that, shareholders saw a second PR with Coleman not only extended its contract for an additional 4,800 with a value of $28 million, which is about equal to the full order for 2022. However, all to be delivered in just Q1 ’23 and ensuring the best Q1 ever likely to be reported in May. With this said, I then have a few questions.
