KULR Technology Group, Inc. (AMEX:KULR) Q4 2022 Earnings Call Transcript

Keith Cochran: Yes. Just to add to that, we are currently engaged with three third part based that specialized in being able to get those opportunities out of the DOE and some of this government funding that’s freed up now. So, we have been working with them now for about the last month on different opportunities and narrowing down the list that we are going to pursue. Each of those opportunities take quite a bit of engineering hours to be able to address that and put them through the system, but there is solid money behind that. So, we are trying to make sure that we put our best proposals out there. But yes, it is on our radar and it is something that we are working on.

Jake Sekelsky: Okay. That’s good to hear. And then just looking at the $2.7 million follow-on order you announced earlier in Q1, it seems like demand from that customer is starting to ramp up a bit. Do you have any visibility on what demand might look like in the second half or going into 2024? Is it possible you see additional follow-on orders here later this year or next?

Michael Mo: Yes. I will say that we don’t want to steal the thunder from certain customers. So, I will let them speak for themselves. But I think just as with this customer and others, it takes quite a while to design, test and certify these systems and compliant with come into regulations, you have certifications and hope it. Once it’s designed in, I think that the stickiness is very high and it’s going to be a long cycle product to run its life. So, I would not be surprised that we will have follow-on offers for second half of this year. And it’s definitely one of those products that has a lot of market acceptance and then we have high exploration or high hope. And the customer has very high hope for their product.

Jake Sekelsky: Fair enough. Okay. That’s all for me. Thanks again guys.

Stuart Smith: Alright. Thank you, Theodore and Jake. Thank you, Michael and Keith for handling these questions. And of course, thank you for all who have joined us on the call today that does conclude this call. So at this time, we will ask the operator to end the call, and thank you so much once again.

Michael Mo: Appreciate everyone. Thank you.

Keith Cochran: Thank you.

Operator: Thank you. This does conclude today’s conference call and webcast. You may disconnect at this time and have a wonderful day. Thank you for your participation.