Paul Cooney: Okay. And as far as the standardization process, I understand it’s impossible to tell about timing and things of that nature as far as when you would get potentially the standardization go ahead. And maybe this is more of a Marc question. What is the process that would speed that along? And I understand you don’t want to talk about exact timing on that because it’s impossible, but is there a way that we can kind of anticipate when that would happen?
Rani Kohen: So yes, you have to be careful what we say, but based on the safety aspects, our code team strongly believes that we provided all the answers to the safety that our product provides. And the rule is if you really save lives, it will or should happen. And we feel, or our code teams strongly feel that we’re getting closer, but really regulators are not fast. That’s the sad news. The good news is that we’re already over 12 years in the process and we accommodate the ANSI NEMA support. That was tremendous in getting to where we are. They also voted for a generic name, like in the bathroom, the GFCI stands for Ground Fault Circuit Interrupter. They dedicated a generic name for us to the condition. It’s WSDR, Weight Support Ceiling Receptacle. So we really met very tough, rigorous conditions to be where we are. And we’ll let the regulators do their job and we’re confident that we’re in the right path.
Paul Cooney: And is there a — it sounds like the, there could possibly be an issue and maybe this is why you’re going to licensing group. Is there any concern about monopolistic issues and things of that nature, or is that why you’re doing the licensing with everybody?
Rani Kohen: Yes, that’s a great question because part of it is that we can’t have a monopoly and that’s why we signed. That’s one of the reasons GE strongly believes that there’s a potential for that becoming a standard here in the U.S. And if it happens here, potentially it can go to many other places because it’s safety. So that’s one of the main reasons we signed the GE agreement, but GE also believes that there’s a potential for our smart platform, generation two and three to be licensed in the market. So definitely that’s one of the main reasons GE wanted to sign that new five-year agreements with us, as we all believe there’s a huge opportunity here. In the meantime, our TAM, as Steve mentioned, is around 500 billion and we are working on a path that if we can capture a fraction of 1% of our TAM, a very small fraction from a stock perspective, from a company perspective, it can be a great success.
And if we get this mandatory, and many believe it’s more when than if, but we should see, that’s going to be a game changer obviously. But we are in a safe path and what we discussed today is, as you see, all those collaborations with many people that are here to support us, the world leading lighting companies and others, and we’re working, as Steve mentioned, on some other collaborations that we hope we will be able to share with the market if they happen.
Paul Cooney: And that’s the holy grail. That’s what changes the game.
Rani Kohen: That’s the holy grail, but I think we’re in a very good position to keep on enhancing market penetration, growing what we’re doing now. And, there’s two paths, code mandatory. Yes, definitely. But we’re working on this path. There’s a code team that’s doing the code, and there’s Steve Schmidt and all our presidents and all the CEO, Lenny and all our sales team. Dave Tamer, a former head of sales for Kichler, that’s the world leading company, and many good people here around us and our e-commerce team doing tremendous jobs. So we have a path that’s growing slowly but surely, and I think it’s happening a bit faster now. And we want it to happen much faster than it is, and we’re working on this. So I think we’re in a good place now.
We started delivering to builders, and we registered, Steve mentioned, over 100 new builders, opened accounts with them, and as they’re going to start construction, they’ve started ordering already, and we expect and hope that we’ll have more orders down the road.
Paul Cooney: Okay. All right. Very impressive. Thank you, guys.
Rani Kohen: Thank you very much, everyone, and looking forward to talking to you with more updates in the next quarter. Thank you very much, everyone.
Operator: Thank you. And with that, we conclude today’s conference call. All parties may disconnect. Have a good evening. Thank you.
