Laser Photonics Corporation (NASDAQ:LASE) Q2 2023 Earnings Call Transcript

Now if our third tier of vendors are supplying it from other countries, we have no control of that. But it’s what’s available with American customers, our vendors, solid to American customers. The availability of the supply chain is a trying task for any company that’s manufacturing today. Nonetheless, 100% assembled here, components are received, we’re not in the business to make a major manufacturing products that is not our expertise. So we’ll have to pull from United States companies or global companies to the degree that whatever is available for us to use, that’s what we use. But we’ve definitely pressed the components threshold to what’s ever available, the latest technology that’s in our products, and we have this capability. And I don’t think anyone else competing with us does the same thing.

So hopefully, that answers your question.

Brian Siegel: Okay. Great. Next question. You’ve been issuing press releases at the rate of 3 per week plus or minus, most of which are simply reviewing use cases for CleanTech. What is the annual cost of this program? Does management actually conclude these releases are meaningful and worthwhile? And if so, why? And then how do you measure this? What are the metrics you use?

Wayne Tupuola: Yes. So in creating the marketing strategy, it’s important for us to penetrate certain verticals and reach certain audience. And at the cost of doing so, I think we’ve got a phenomenal deal from our avenues of helping us with the press release is quite cost effective and quite affordable for us to release press releases on a daily basis. And I think the bombardment of messaging is quite important so that they can see that a thriving company that has an awesome message to deliver that just allows people to understand that there’s a lot of exciting things going on in our company, and we’re just excited to share that. I think the matrix on this we’ve been getting some phenomenal feedback on the open rates and people have given us great response on this.

On the other hand, some may view it as mundane and not effective. But again, we’re the company that’s running the marketing strategy, and I think it’s working. It’s doing its job. And hopefully, it will gain traction in the near term to come.

Brian Siegel: Okay. Great. Second is related to SEC filings. There’s been no disclosure of executive comp since you’ve gone public. What are key insiders and directors being compensated right now?

Wayne Tupuola: Yes. I think that emerging growth company exercise that right, as mentioned, to be transparent in that area. And we have mentioned as executives are hired through the 8-K what the compensation is. So I think we’re already doing that, Brian.

Brian Siegel: Great. Thank you. A couple of business questions here. Are you seeing an increase in competition and in general, who are the competitors? And what is the competitive environment like currently?

Wayne Tupuola: Yes. I think it’s quite the opposite. We’re not seeing a competition of relevance to the technology that we have pressing the components threshold, exceeding customers’ expectations. So I think we’ve done enough to set ourselves apart from the competition that it exceeds the marketing expectations of getting the message out there, making sure that there’s really a hands down effort on our part to make sure that we’re offering something that anyone that wants to occupy this space will not be able to achieve. And that’s our goal is to try to provide a solution to our customers that no one else in the world can. And I think we’ve pressed this technology to the height of expectation that our companies are starting to see. They’re writing procedures around our product, and that says a lot about what we do.

Brian Siegel: Okay. And then this question is more technical in nature. What are the main items that make up the manufacturing process?