Lishan Aklog: I mean, our expectation is we have target financings for each of them. They’re not huge. They’re relatively modest in terms of the amount of capital required to get each of those products through regulatory clearance and commercial launch. And so we would not expect the financing into them to be dilutive so that PAVmed ended up with a minority stake. So our expectation is that each of the products and subsidiaries would still be majority owned because we expect the valuations and the capital needs to kind of reflect that math. Look, over the long term, if they’re — once these are launched commercially and there’s opportunities to partner with entities that are looking to deploy resources to advance and accelerated commercialization, that we’re open to whatever kinds of transactions are in the best interest of our shareholders.
And that could include anything up to an acquisition of that technology by a larger strategic. But I would say and Dennis, correct me if you think otherwise, in the initial transaction, the initial financing to relaunch these products, the amount of capital that we’re seeking to raise in each of these is modest enough that I would expect — really don’t anticipate PAVmed losing its majority stake in any of these.
Dennis McGrath: I agree.
Nick Sherwood: Awesome. And then my final question is, what — how far along in the progress for securing independent financing for the Veris system to clear the path to FDA submission and the 510(k) clearance?
Lishan Aklog: So we have interest. We’ve had discussions with various groups that have expressed interest in that. And what we’ve decided to do is to look to consummate our first to demonstrate that we can engage with a major large academic cancer center and sort of demonstrate and do a proof of concept that there’s an opportunity to continue to do that. So our expectation is that, once we do sign this first contract, then we will be able to engage with various folks that have expressed interest and consummate a financing shortly thereafter.
Nick Sherwood: Can you share with us the size of that target pool of the institutions?
Lishan Aklog: Yes. We have — yes, I mean, they’re obviously based on — we’ve done this in a very systematic way. And based on sort of the criteria that I outlined on that slide, about NCI centers, magnet centers, a minimum of at least 20 oncologists, a minimum number of patients getting systemic infusion therapy and so forth. There are dozens of such centers across the country. We have a couple of dozen that are on our target list and about a dozen that we’re making active inquiries with. I would say we have 5 or 6 where we’ve actually had active discussions. One of them, again, is very late stage and a couple of others are — at least one other is pretty far along and a couple of others, we’re making progress with. Hopefully, that gives you some color.
Operator: [Operator Instructions] There are no further questions at this time. Please proceed.
Dennis McGrath: Lishan?
Lishan Aklog: Sorry, I was on mute. Thank you all for joining us today and for the great questions. And as always, we look forward to keeping abreast of our progress via press releases, conference calls such as this one. The best way to keep up with PAVmed or Lucid news or updates or events is I would encourage you to sign up for our e-mail alerts on both the PAVmed and Lucid Investor Relations websites and to follow us on Twitter and LinkedIn as well. So, thank you very much everybody and have a great day.
Operator: Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.
