And that’s all we need for our shareholders to be very happy with me and our management team next year. The fact is, we have these other wildcards that can be absolutely huge. So I hope that was a great question. I appreciate you coming on at the end of the call to ask that, Pat. And with that we ran — I think we ran over time if we wanted to set this to an hour. So I think we’ll conclude the call. Nick. Do you see any other questions or should we go on? Thank you, Pat.
Operator: That was the last question. There’s nobody else in the queue if you want to give closing remarks be perfect right now, sir.
Ted Karkus : Perfect. Okay. Thank you so much, Nick. Look thank you all for joining. Look, obviously I’m really excited about the future of the company. The accounts receivable question. Honestly, his question wasn’t a bad question that was asked three times on the call, but it really wasn’t a bad questions. And yeah, your questions around the accounts receivable, I can’t guarantee we’re going to collect on all the accounts receivable. We may not, what differences make what if we have to write off some of it, we’ll write off some of it. The point is we are collecting on a significant portion of our accounts receivable. It is from major insurance companies and they are paying us and the money comes in every week. And now that we’re not doing COVID testing anymore.
New accounts receivable will be even more reliable than old accounts receivable. I would want to tell you that one of our accounts receivable actually doesn’t even have anything to do with COVID testing. But I’m confident that we’re going to collect it but we bet — I’m not even going to go into it except to tell you that the issue with the accounts receivable tells in comparison to the businesses that were developing. I would also put it into perspective that we did over $200 million of COVID testing, and we’re down to less than one, I’d say it’s $30 million of it is from COVID testing and accounts receivable. And then the last $30 million or we struggled with it a little bit more so be it. It doesn’t change the fact that it was a hugely successful business.
We made an awful lot of money. And right now, that cash flow is paying for our businesses that we’re developing, and the transition to the businesses that we’re developing to being significant revenue generators, and ultimately, significant profit generators is very close at hand. So with that, I appreciate everybody’s time today. As you can tell, I’m passionate, so I can get aggressive from time to time. But I think that’s what you wanted a CEO, if you want a CEO that actually executes. And that’s what I do. Some people probably don’t like that style. But if you don’t, then don’t invest in ProPhase Labs. But if you want a management team that executes, it’s developing businesses with enormous potential, and its enormous potential, it’s close at hand.
And that’s something that we have to spend tens of millions of dollars over the next one two three years developing, this business where we’re, we’re spending millions of dollars, not tens of millions of dollars. And we’re developing businesses that I believe are going to be worth hundreds or hundreds of millions of dollars. And it’s going to have those kinds of valuations in the short term and intermediate term, not in the long term. So I can’t think of a more attractive investment in the marketplace, if you have the perspective for investing long term in microcap development stage companies. And with that, I bid everybody the best of luck. There’s nothing more difficult in my mind and investing well, maybe being CEO of a public company while it’s losing money.
But I wish you all the best luck. And I really appreciate everybody’s support, and for listening to me talk for the last hour and ten minutes. Thank you, Nick. Great job setting up the conference call today and thank you so much.
Operator: Thank you for that sir. Conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.
