Keith Randall: I can answer your question. So there is an ongoing process of SOC 2 certification because we’re doing the SOC 2 Type 2 which is basically, we need to maintain it every year. It’s not just a point in time. But the initial process is really the — is the most cost-intensive part just getting — like getting up to speed and hiring consultants to advise us on where our gaps are. So going through the process a second time will be a lot easier and a lot more cost effective. We — I mean, during the year, we had to hire personnel specifically for that to achieve that objective. So if you want to know the numbers, we’re talking hundreds of thousands of dollars to achieve it.
Unidentified Analyst: Okay. But ongoing, it won’t be hundreds of thousands dollars, some lower amount. Okay. And then — sorry, continue.
Keith Randall: No, I’m just saying hundreds of thousands like — I mean I’d have to go — I mean it’s hard to pinpoint just exactly what related to SOC 2 or just what related to infrastructure in general. But going forward, the cost will be significantly less.
Unidentified Analyst: Okay. And then you guys also gave a presentation at the beginning of December, I think it was on Microcap Club. I can’t remember exactly where you had a chart — a couple of charts there that showed for 2023, I think it was a little over $20 million in revenue and a little over $2 million in net income. I don’t know, you guys still stand behind these numbers because if I do some quick math and I don’t assume a huge jump in margins, it tells me that OpEx would basically have to be flat to get that kind of profitability. Is it something that’s possible or achievable? Or am I missing something critical?
Dave Shworan: Well, I can answer the question. I guess in showing the growth curves of QuoteMedia and showing the curves going forward into the future, those are just curves, right, looking at that. They’re not really put on the screen as projections. There’s no numbers on them to say, “Hey, this is the number that we’re projecting and things like that. But it’s just to show the trend and the curve of what’s happening with the company. And it’s just after year after year, we can kind of see what’s happening. We can see the types of clients that are coming to the table. We can see the kind of deals that we’re doing. And we do feel that, that curve is pretty accurate. And even if bigger clients come along or more of them come along well the curve actually climbs.
So don’t read into it too much and don’t sit there and pinpoint on the chart. It’s more of just showing the curve of the growth of the company. Keith, do you want to address any of that for or 2023, just even contracts under that we’ve already signed for the year?
Keith Randall: Sure. Yes. So — but to circle back to some of those figures, maybe that net income would be a little bit optimistic but we do — we are expecting a significant increase in our net income figure. So — so — but I don’t have the presentation right in front of me, so I can’t comment exactly on the other numbers related to it. But we are expecting $20 million plus in revenue this year and our bottom line, there’s a few factors that contribute to that. There’s a few accounting adjustments that can adjust it one way or the other, like noncash accounting adjustments, adjustments to fair value assets or liabilities. So — but having said that, we do expect a significant improvement in net income.
