Operator: [Operator Instructions] And our first questioner is Frank Lewis [ph] with Adams Street Capital.
Unidentified Analyst: Hi, thanks for taking the question. How should we think about revenue mix this year by end market? And have we seen a particular shift over the last few years?
Halden Shane: Thank you. Nick, do you want to take that?
Nick Jennings: Sure. In terms of a breakdown of that, really, we continue to see growth in life science in that vertical as it’s the most mature. And food safety is developing quickly so – in terms of markets. And really, if you were to break it further down into how we generate revenue through equipment, solution and service, if you have been following along, you can see the Custom Engineered Systems or the collaboration projects we have with certain companies provide a lot of optimism for us because these are great things we are getting into.
Unidentified Analyst: Got it. Thank you.
Halden Shane: Yes. I think also the CES and the SIS systems will be what drives the company going forward in that specific vertical.
Unidentified Analyst: Got it. Great. Thank you. That’s it for me.
Halden Shane: Thank you.
Operator: [Operator Instructions] We will now hear from John Nelson, private investor.
John Nelson: Hi. Dr. Shane, thank you. And I have several questions. The first one is, you mentioned at the end of your statements that you expect to be profitable in the fourth quarter. And if that were the case, it must – or it should mean that you are expecting a significant increase in revenue from this last quarter, is that correct?
Halden Shane: We are hoping that that is correct.
John Nelson: Okay. And what areas might – would you think would be driving that increased revenue?
Halden Shane: Well, I think it’s the interest in the CESs and the SIS systems that we have out there, and our new transportation system, mostly from the life sciences, along with the addition of the onboarding, the education of these new partners that we have taken on who have significant pipelines in the sales end of all verticals.
John Nelson: Good. Thank you. The next question is related to the convertible debt deal that you did. Is there anything in the documents that prevents the participants from shorting your stock?
Halden Shane: Yes, there is. There are a couple of documents that restrict sales and also restrict shorting of the stock. So, we are covered from that standpoint. Thank you.
John Nelson: Excellent. Great. And next question, is there any – can you give us any update on the ethylene oxide replacement market?
Halden Shane: Not really. It’s still – these regulatory agencies are still creating a foundation for who is going to be able to use ethylene oxide and who isn’t. At the moment, it seems it’s just large facilities that they are restricting because of OSHA and some employees regular standards. But it’s going to be a while, John, and I think that this will go out to all users of ethylene oxide once the regulatory agencies start condensing and specifically hitting uses of it. We think our product is the – we know it’s the replacement, and we think that it won’t be too long until it’s used in the food safety industry for the ripening and for prevention of food borne diseases in the fruits and vegetables.
John Nelson: Okay. Thank you. Fentanyl [ph] has been in the news a lot, concerning a number of people. Is there anything new on the neutralization regarding use of SteraMist?
Halden Shane: So, we are hoping – you have read that, I am sure the press release that the Ami did, in relationship to other toxoids, and we are hoping that they will do a similar study on fentanyl. As we all know, or we all should know, it’s a significant problem throughout the United States, and it’s affecting educational systems, affecting police. And I personally believe, because it’s an organic compound, we will be able to alter the structure of that compound with the use of SteraMist in closed areas, which is the most concern for people. And we are pursuing it. We are pursuing also some studies with individuals that know how to do the right studies and collect the right data. So, we are on track to hopefully have something in 2024. I am not sure what part of it but within – by 2024.
John Nelson: Okay. And let’s see, any – also any new developments on – with the FDA as far as SteraMist on food treatment?
Halden Shane: We are still working towards that label in this 1%. And we are able to treat it with our 0.35%. We just want to get a little more pathogen kill, and we are still involved in that process. But many food companies are using our regular 7.8% in non-food areas to decontaminate space and equipment.
John Nelson: Okay. And I always ask this, but the UCLA study, anything to report there?
Halden Shane: Nothing published yet, as you and I know. But we know the data is good…
John Nelson: Yes. The – my next question is related to – from the installs with the transport system, have you been able to – can you give us any metrics as far as comparison – cost-effective comparison between the use of SteraMist versus the tool or manual cleaning on – that ambulances generally require after usage?
