As we have stated in our FY 2023 10-K file today, we expect to raise additional funds through the issuance of equity, preferred stock, and convertible debentures. Finally, shareholder equity for fiscal year 2023 was $3.74 million versus $9.86 million in fiscal 2022. That concludes my review of our financial highlights, and I’ll return the call back to Ron for closing remarks.
Ron Erickson: Thanks, Pete. We will now dedicate the next 10 to 15 minutes to questions submitted through the webcast portal. So, I’ve got a question here inbound from one of our shareholders. What sort of joint development agreements can we see in the future, and how long will it take for something like this to happen or be announced? As we indicated in our remarks, we are in discussions with potential global strategic partners. We have NDAs in place, as you might imagine. As a consequence, we can’t really talk about any detail about what these opportunities look like. I think the other thing that’s important to keep in mind, and I think many of you have had these experiences, these are larger corporations. And while we’re small and nimble, often dealing with a large corporation, nimble qualities are in short supply.
So I would say that we try to manage expectations. We know that these can take some time, especially as you make through the various layers of a large global enterprise. So I don’t think I can really, I can’t speculate on how long these will take and I will not speculate or discuss what form they will take. There’s a question here from another shareholder about what progress has been made with the Gen 1 prototype device announced in June. As I indicated in my earlier remarks, we are using that device both internally and externally. It’s allowed us to move testing outside of the lab. It’s allowed us to increase our data collection. And so it has done just exactly what we wanted it to do. Some of you have seen in that video, the launch video last June, that in the lab we’d been using the sensor.
But the sensor was connected to a large apparatus and was fitting on something that was about the size of a large breadboard. To get it into something the size of a computer mouse, in essence, allowed us a lot of flexibility. It’s the kind of product you can take with you in your briefcase to the other side of the world and test it. And so it’s allowed us to dramatically expand testing. And it’s really not exactly what we hoped for. Okay, I’ve got one more here and what is the path to FDA clinical trials look like, the key milestones and anticipated timing. There again, we spoke to this. We think Gen 2, as I indicated, could be the form factor that goes to the FDA. And when I say Gen 2, you know, it could be refined, but essentially that is our ambition, to have the Gen 2 be the device that we take to the FDA.
And I also indicated that another component of that, the Gen 2 is the hardware component, The software algorithm component is relying upon further data collection and refinement of our algorithms. So as those come together, then we’re going to be headed to the FDA. And as I indicated, We have a great sense of urgency around this, and we’re working as fast and hard as we can to achieve that goal for ourselves, for all of you, for all of our stakeholders. With that, I’ll conclude our Q&A. Thanks for those questions. I want to thank everyone for joining us today. There’s a lot to look forward to in 2024, and we’re really excited to report on our progress. The team is, as I say, committed, passionate, and everyone loves what they’re doing. We appreciate your support, our shareholders.
We really appreciate everything you’ve done, so that we can continue to do our work here on your behalf. I really want to acknowledge here at year-end the incredible effort of our employees, our board members, our advisors, our strategic partners. All of them are important parts of the team. All the very best to all of you for the Holiday Season and a bountiful and peaceful New Year. I want to thank you all very much, and have a great day.
Jordyn Hujar: Thanks, Ron. The conference call replay will be available on our website in the coming days. Thank you for your participation.
End of Q&A: