Ted Karkus: Sure. Great question. And it’s interesting you should ask that because I was just having a discussion about that this morning. Look, there is a lot of strategic initiatives that we are working on. There is a lot of things we are doing with our company. When you build a company that has assets with big potential, it gives you a lot of options on what to do with those assets. Now in my mind, if I think an asset is worth hundreds of millions of dollars, I am not going to sell it for $50 million or $100 million. If I think an asset is worth billions of dollars, I am not going to sell it for $250 million. I think somebody asked me, I was on a virtual non-deal roadshow call and somebody asked me, would you sell your esophageal cancer test, I can’t remember, he said $150 million or $250 million.
I am like I wouldn’t even consider selling it right now. Why, could you imagine Amazon or Tesla whatever the market cap is 10 years ago, somebody said, €œOh, I will give you 50% more for it.€ They would have been fools to take it. Well, if I really believe in the assets that we are developing, I really do, why would I sell any of them now. So, with something like Nebula, honestly, I think that we could sell the business right now and create significant value for our shareholders today. But I think that a year from now, Nebula is going to be worth dramatically more, quite frankly. I think I mentioned this once before. I was having a conversation with George Church, who is world renowned in genomics. He could have retired on all the companies he has founded.
He is a professor up at Harvard and he does that because of his love of genomics. He doesn’t do it for money. And I don’t even know. I don’t want to speak out of term, but he has made an enormous amount of money, probably more than the whole market cap of our company. And one day, I was joking with him during one of our Advisory Board meeting. And I said, we might potentially have a buyer for Nebula Genomics of $100 million. He said, don’t you dare sell Nebula Genomics for $100 million. Like he was mad, he was like, don’t you even consider it, I said, no, no, no, George. Don’t worry, we are not going to. So, I hope that gives you some perspective that at the rate of growth, and you got to understand, over the last 2 years, the market has not put a multiple on our revenues or earnings because they didn’t believe that they would be long-term.
And they were correct. It turned our COVID testing last year longer, than anybody expected, we did significantly more business than anybody expected in the last year longer than anybody expected. And at the same time, we never got a multiple of those earnings €“ of those revenues and earnings ever. On the other hand, I believe that as Nebula grows this year and the numbers really start to pop from a small base to a bigger base, we could get an enormous multiple of revenues. On a company like Nebula, especially when its peers have no revenues at all and they have $1,500 million valuation. So, the type of valuation, so look, hypothetically, we can IPO Nebula. I happen to be working on some other things that I want to do first. But hypothetically, there are companies, I think it was Alibaba just announced the stocks up based on the fact that they want to split up into separate companies.
You can unlock a lot of value with IPOs. So, it is possible down the road that I could IPO Nebula, I would rather do that and sell it if I think it’s going to be worth so much more in 1 year, 2 years and 3 years, I wouldn’t want to sell it because the company does need the money right now, all of our shareholders for the most are long-term shareholders. And I want to build value over the next 2 years, 3 years, 4 years, 5 years. I don’t want to sell it short because we can make a quick buck over the next three months to six months. So just, it gives you an idea of how I am thinking, I am thinking for long-term shareholders. But having said that, long-term, does it have to be 5 years to 10 years, it can be 1 year to 2 years with what we are working on.
So, we just have to wait and see how this plays out. But an IPO of Nebula is always a possibility. I would consider that before I consider sale just because it has so much potential, and it’s growing so quickly and also some demand.
Patrick Patterson: Thank you, Ted. Appreciate it.
Ted Karkus: Yes. I really appreciate your continued support, Pat, I really do it. Thanks for the call. MJ, on to the next one, please.
Operator: The next question is from Fred McDonald, Private Investor. Please go ahead.
Fred McDonald: Hi Ted. How are you doing?
Ted Karkus: Excellent. Thank you. Thanks for calling in and for your support Fred, how can I help you?
Fred McDonald: Yes. In your press release today, you talk about the global opportunities for BE-Smart. And then previously, you indicated that you are going over to United Arab Republic in a couple of weeks. Is this to close a deal with BE-Smart and G42?
Ted Karkus: So, actually as I mentioned, Sam Beeler has been €“ he is Chief Strategy Officer of Nebula and has tremendous relationships with companies, including G42 Healthcare, which was acquired by Mubadala, which is a $43 billion company. They are very, very big in healthcare. It’s a primary focus of this. They are huge in genomics. They are responsible for the Emirati Genome Program, which is to test 1 million residents in the UAE for €“ to do whole genome sequencing. And so this is a prime focus of theirs. And then at the same time, they have a tremendous lab, which I toured, I don’t remember, last time I was over in Abu Dhabi that might have been six weeks ago, I toured their lab. And it’s really interesting. We are building our lab here almost in parallel.
It’s really interesting. The equipment is in both. And then what’s an interesting coincidence is we have very specialized equipment that we use to do esophageal cancer testing and what a coincidence G42 Healthcare happens to have that exact same equipment. And so understand G42 Healthcare is the only large company over there that we are talking to. And so there is a lot going on both with Nebula Genomics as well as with our BE-Smart esophageal cancer test. It’s just not appropriate for me to get more specific, when I have something to announce, I will announce it. I don’t want to mislead anybody. I don’t want to say we are best to announce a big deal or there is some big deal or anything like that. I am just working. I am just working, developing the value of our assets.
There is a lot of opportunities. We are working on a lot of opportunities. But what I can tell you is what we are working on, number one is very real. And number two, everyone around us from key opinion leaders to cancer institutions to large healthcare companies are all interested in what we are doing. They are all taking our calls. They are all talking to us and we are discussing strategies with all of them. As I mentioned, I just spoke to €“ literally just visited my office last night was a GI surgeon who is super excited about esophageal cancer test. And at the same time, look, people get esophageal cancer around the world. Everybody gets GERD. Not just in this country. And it’s growing at a rapid rate, especially with the health, apparently, people that gain weight have more of an issue with GERD.
And it’s taking off around the world. And it’s a big problem over in the UAE and in the MENA region, in Middle East, North Africa, that whole area. And so the numbers are taking off for GERD. The numbers are taking off for Barrett’s esophagus. And obviously, they are taking off for esophageal cancer. And so wouldn’t the leader in Abu Dhabi, wouldn’t he love to take credit for introducing an esophageal cancer test that saves thousands of lives. I mean it would be great PR. And it would be great motivation and he just happens to back the largest healthcare company, not to mention he backs the largest bank in Abu Dhabi. And so there is a lot going on over there. We have a lot of opportunities and are following up on all of them, when I have more to announce, I promise you, I will update our shareholders as quickly as I can.
I hope that answers your question appropriately. I really don’t want to give people too excited, but at the same time, it’s awfully exciting.
Fred McDonald: Thanks Ted. One more question, can the BE-Smart technology be used in other procedures?
