RocketFuel Blockchain, Inc. (PNK:RKFL) Q3 2022 Earnings Call Transcript

All right, and I just want to repeat again, it’s the proven model that works. As I said, very few companies have become number one in the tech industry by being profitable from the early days, because you simply can’t hire the people and do the PR, do the marketing and expand globally that way. Okay, what other products or revenue streams are on the road for 2023? As I said, we have one more and I don’t really want to talk about it now. Other than there’s one, and it’s also because I know you guys are going to be asking me about it in the quarter. And everything looks really good, it’s something we’ve worked on for a long time. Our B2B product took a quarter longer to get out than we had thought mainly, because we need the right banking partners and contracts.

It’s getting harder and harder and there’s more and more due diligence and this legal stuff that you have to get through to get the right agreements and the right contracts and that’s — it’s not so much the technology that takes time, it’s much more all the other stuff. And the new product that we’re coming out with, we’ve been working on for a while. We’re very close. In fact, I was talking to — saw my colleagues and I think we’ll test it with the first customers next week. So if everything goes well, we will generate revenue and see revenue from that product this current quarter. But yes, that’s all I want to say about that right now. Okay, do you have any plans to add other payment gateways other than ACI? Yes, definitely. ACI is a great partner they were one of the first and we’re super happy with their partnership.

We are happy that they are expanding with other things, but we work with many others. We have already added other gateways and PSPs that integrate to us and that generate revenue to us. As a reminder, our go to market model is to go out to gateway providers, PSPs and others and have them offer our solutions to their existing customers, customers that they have had for many years where they have processed credit cards for them for five, 10 years and say we’ve been doing your credit cards, we’ve been doing your Apple Pay. Now we can also do crypto payments and now we can do more than just crypto payments, i.e., pay in, we can also do payouts, we can do B2B and many others. And so I mean, we had one customer that did more than $1 billion not $1 billion, $1 million in B2B cross-border transfers and it came into a partner, and it was wonderful, right?

And the partner makes some money we got access to a customer, it was actually from Latin America, so we’re not down there, but we have a good partner. We have a good partner there and they make the introduction. We got $1 million in volume and make some good revenue on that. And they got their commission, everyone is happy. It’s a model that scales well, because we can’t be all over the world right now. But our partners are and they already have existing relationships with their customers. Okay. Those were the questions that were submitted in the Q&A. Is there anyone who wants to ask anything live Ben?

Ben Yankowitz: No, nobody raised their hand.

Peter Jensen: No one raised their hand. Is there a way if they’re on their phones, they probably can’t raise their hands, they can’t press the button. Is that something they can press on their phone or can they just unmute and talk? Or can you open up all the lines, Ben?

Ben Yankowitz: I believe so. Let me try.

Peter Jensen: Who are our high-tech expert, I know. So if you can just open up the line then people can just answer.