Norman Snyder: Well, I mean, the only thing I can really comment is the insurance claim is in the neighborhood of $1 million. So, that’s what we’re discussing with the insurance company. The other — the candy is like about $250,000 range. And the other items, look, if my view is — we’re going to be opportunistic if we can get another $250,000 out of that too, I think that’s a positive thing. Obviously, we’re going to push it as far as we can. But it’s going to be coupled with what opportunities are there today, keeping our current products in stock. And again, we’ll be opportunistic where we can but I don’t really want to make promises because those — it’s really going to be almost a game time call when we have the availability to do that. But look, there’s expectation that some of that money is going to come back in 2024 and it should be impactful.
Unidentified Analyst: Okay. So, just kind of hope for the best, expect the worst situation and if we get some back, it’s good. And if not, we’ve already written it off and we’re going to push forward.
Norman Snyder: Yes. But look, we’re going to remain opportunistic and do as much as we can when we can do it.
Unidentified Analyst: Okay. And my last question, so just looking at the Q4 numbers and I’ll admit that I haven’t had a chance to actually go through all of them. But just from a top — like level looking down 1,000 foot due, if delivery and handling costs were reduced by 32% or around like $900,000 quarter-over-quarter. SG&A 23% and also in the $900,000 ballpark range. So, that’s about $1.8 million in reduction. So, I was just curious like what was the main driving or driving factor or factors that really hurt our operating loss Q4 in comparison to last year. With those cost-saving measures like taking effect, what pushed us to actually have more of a loss?
Norman Snyder: Well, it was primarily the write-offs. I mean, obviously, there was — the top line impacted it from a gross margin standpoint. But the real driving factor were all those adjustments.
Unidentified Analyst: Okay. Okay. All right. Yes. So, they are — they’re in that number. That makes that makes much more sense.
Norman Snyder: And if you look at — that’s why I would — if you go back and look at the modified EBITDA and then you could see really that an apples-to-apples comparison in the prior year.
Unidentified Analyst: Okay. Okay. All right. Awesome. I appreciate the time answering all my questions. Keep up the good work. We’ve got high expectations and we think you guys will deliver.
Norman Snyder: Thank you, Jack.
Operator: The next question is from John [Indiscernible] from Downtown [Indiscernible] Office. Please go ahead.
Unidentified Analyst: Yes. Thank you for taking my call. A couple of quick questions. First, may I ask current cash label?
Norman Snyder: I’m sorry?
Unidentified Analyst: May I ask current cash label?
Norman Snyder: Current cash label?
Unidentified Analyst: Yes. How much cash you have right now?
Norman Snyder: Well, that’s — what we can disclose, we put in the press release.
Unidentified Analyst: Well, I mean, you do not have a current estimate level of your liquidity, I mean–?
Norman Snyder: Well, like I said, what we’ve disclosed is post year-end, we’re doing a financing of up to $6 million, and we’ve raised through a safe agreement.
Unidentified Analyst: I mean, in end of the December quarter, you have a $1 million cash left, right?
Norman Snyder: Yes.
Unidentified Analyst: I mean that was in this cost payments. So, I mean, are you currently looking to raise or you have enough cash flow to sustain?
Norman Snyder: Well, I think I answered that question earlier with the current financing that, that will be sufficient.
Unidentified Analyst: All right. Good. Good to hear. Okay. Second question. Does the company have any litigation going on right now?
Norman Snyder: No.
Unidentified Analyst: No, very good. Last question, quick question. You have a new Board member, what is that two quarters before regarding any possible Chinese drinks company, what a partner or something? Any follow-up on that?
Norman Snyder: I’m sorry, say that again?
Unidentified Analyst: Okay. You have new Board member, as of the new year, a couple of quarters ago and you mentioned about possible partnership with that new Board member kind of a strategic partner or kind of–
Norman Snyder: No, no. Yes, no, look at–
Unidentified Analyst: Okay. I just wonder if there any follow-up on that business opportunity, something like that.
Norman Snyder: Yes. Look, just like everything else, we’ve moved to a concentrate model for our exports to the U.K. and Europe. And obviously, our new Board member is from Hong Kong and understand the Asian markets, and we are presently evaluating opportunities there. And we would mimic the concentrate model that we’re using in the U.K. and Europe. So, our cash needs would be minimal to expand in that market. But we’re really in the early stages in evaluating that.
Unidentified Analyst: All right. Thank you.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Norman Snyder for any closing remarks.
Norman Snyder: I want to thank everyone for participating in this afternoon’s call as well as our employees, customers, and, of course, our shareholders. We appreciate everyone’s support. I’m pleased with the work we’ve accomplished over the past year and look forward to executing on our 2024 plan in the year ahead. Thank you and have a good night.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
