Pete Conley: Here we have another question. On the last call, it was suggested you had enough cash through next February 2024. Now it’s December of this year. So that’s a 2-month delta between the 2 and $800,000 burn. It’s $1.6 million. If you go through our financials in the 10-Q that was released today, you’ll see in the quarter just reported that R&D expense increased 48% year-over-year, in dollar terms a $606,000 increase year-over-year. And what that reflects is the accelerated rate of development from Gen 1. As Ron just indicated, we’re already working on Gen 2. And so we believe that accelerating the development of our products, accelerating the filing of our patents, again, as Ron noted, in the first 6 months this year, we have increased our patent portfolio 70%.
And so we believe that that’s the best use of the capital that we have. There’s another related question here. How will Know Labs fund the operations of the company? In the 10-Q in the liquidity section, we talk about the fact that right now, we are underway on a capital financing plan for the balance of 2023. And we believe that we’ll have the funds to execute our plan. Question, are you in communication with companies in which Know Labs could joint venture with in the future? In other words, any interest by large companies? We have not commented on this specifically nor publicly.
Ron Erickson: How many employees have been hired or lost since Gen 1 came out in June? We haven’t lost any employees. We have 11 full-time employees, 11 FTEs.
Pete Conley: Does AI help Know Labs get the MARD lower? When is the MARD of sub 10% projected to be accomplished? We utilize AI and utilize machine learning in developing our algorithms, which will impact MARD. But the biggest determinant of MARD is the size of the data set. And we are increasing our cohorts. Now as Ron indicated, we are underway of LF 30. We anticipate going to LF 50 and then LF 100. If one wants to get a sense of what kind of data is required to have a FDA-cleared product, you can download Dexcom’s G7 summary decision from the FDA. And Dexcom achieved their MARD dreams on a population of LF 430.
Ron Erickson: We appreciate very much everyone’s questions and active engagement. As we indicated earlier, we try to be available both to e-mail inquiries and phone calls. So don’t hesitate to stay in touch. We try to be responsive. This will conclude our Q&A. Thank you to everyone for joining us today. There’s a lot to look forward to here in the balance of 2023, and we’re excited to report on our progress. We appreciate your support. And I also want to acknowledge the incredible effort of our team of really talented employees. And not just our employees, we have 11 employees, as we indicated. But we have people working with us, engineering, machine learning, product design and development that are — they’re external to the company, but they are every bit as committed and excited to be part of this journey we’re on. I want to thank them as well. Thank all of you who are shareholders and supporters. We appreciate it very much. Thank you all and have a great day.
Jordyn Hujar: The conference call replay will be available on our website in the coming days. Thank you for your participation.
Operator: This does conclude today’s teleconference. You may disconnect your lines at this time. Enjoy the rest of your day.
