Yoav Stern: Sorry, the second question again?
Unidentified Analyst: What is the interest you got for the quarter, 2022 last quarter? I mean you have more than $1 billion sitting on the bank account?
Yoav Stern: Okay. I understand.
Unidentified Analyst: Yes. Please.
Yoav Stern: First question, I will answer. And the second question, I will let Yael answer. You are right. I was speaking to at least one analyst from a small outfit in Midwest that is following other companies in this industry. He promised and said that he is very interested to write a research report about us, which I spoke about it was exactly, it was the third quarter of 2022. And the guy didn’t do it. And I don’t understand why, and you are right, it’s my failure. I am still, of course doing the same thing. But as much as I am looking at myself, the fact that we don’t have analysts writing about us is disappointing to me, and I am disappointed to myself, but I can tell you one thing. And what the two, three acquisitions we are looking at will cause the analysts to start to write report about us.
That’s for sure, I already spoke with them. And the fact that we are employing two banks now, both Greenhill and Lazar is in a roundabout way, and people who work in Wall Street know it because they are going to become part of the upside of closing a deal is going to cause analysts, I hope and that’s the way it works to write reports.
Yael Sandler: And in terms of the interest revenue, so in 2022, we had interest revenues of around $18.5 million. Obviously, most of it is towards the second half and very heavily even in the fourth quarter because of the rising interest rates. And in this quarter, the first quarter of 2023, we are at a run rate of more than $11 million a quarter from interest revenue. So, assuming the interest will continue to be as much as they are today, you can multiply it by four and see where we project our interest revenues will be. And as Yoav mentioned earlier in the call, it is expected to influence our total cash burn significantly this year.
Unidentified Analyst: Thank you very much.
Yoav Stern: Thank you, Ram.
Unidentified Analyst: You’re welcome.
Operator: Thank you. This concludes our question-and-answer session. Now, I would like to turn the call back over to management for any closing remarks.
Yoav Stern: Okay. I will say a few more words in case other people want to ask. I want to relate back to the question that the person before the last person asked and he said, and I want to reemphasize my answer to him. He said, Mr. Stern, you claim in your videos that most of the shareholders support your business plan for the company. I never claimed it in the videos. I don’t know if most of the shareholders support what I propose to lead the company towards. The only thing I know that 90% of the shareholders don’t include these two entities on the lake of €“ on the shore of Lake Ontario, I don’t remember exactly the names. So, other than those two, 90% of the shareholders don’t support their way of wanting to dismantle the company and pay for those shares.
That’s the only thing I said. The other side of it is, I am trying to convince shareholders in the sense of moving along the businesses we are proceeding with. And I am clearly at the mercy of shareholders. This is business democracy. I am voting that. If they vote me out, I have many, many things to do with my life other than working 18 hours a day. The only thing I won’t be happy if I will stand down is to be able to help you make money. But I will definitely respect any directive that I will get from shareholders. So, that was just to reemphasize this point, and to gain some time to let you guys maybe have more questions, but I see that you don’t. So, as we always do, by now, I am much more involved with the shareholders, they are writing me and I am writing back, and it’s actually a pleasure.
So and it’s a pleasure to speak with you today, and I thank you very much for the opportunity.
Operator: Thank you. Conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
Yael Sandler: Thank you.
