Brett Moyer: Yes. So look, we’re addressing a larger market, no question about that strategy for DS and E but from a 2023 P&L perspective, if a product is going to design this year and into production, that means people were designing it last year. And — or this quarter or next quarter, right? They are not going to design in a part they don’t — after the year the industry had the year before, they’re not going to design a — my assumption is they’re not designing a part they can’t get into these products.
Kevin Dede: Okay. Brett — okay. On the Rio, clearly, you’re confident there on the production side. And you’ll be, what, available at retail and on the web for the holiday selling season?
Brett Moyer: Absolutely. That’s the objective. Yes. We expect to be at retail in September. I think we are going to get an incredible amount of product reviews on that product. Some people heard it at CES. People that said no to the solution over and over during the prior 12 months, but had never heard it, right, said no to the spec sheet. To quote one VP of Engineering, he said I have to have it. It’s like well, no we’ve been telling you that from 9 months. But that type of blow-away experience will propagate through the trade press and the consumers pretty quickly.
Kevin Dede: Yes. No, I’m with you on that. I thought you guys demoed well. Okay. A couple of quick questions for George. $2.9 million in cash post deal year-end. Where do you think you are now sort of pro forma post the 6, whatever 6.2 raise in Feb?
George Oliva: We’re a little north of $4 million in cash right now, and we have quite a bit of finished goods inventory. So we hope to liquidate some of that in the second half of the year. But we’ll probably be needing to raise a little money in midyear.
Kevin Dede: Okay. No…
Brett Moyer: Well, the piece that is missing — hold on, Kevin…
Kevin Dede: I’m sorry, go ahead.
Brett Moyer: Yes, the piece that’s missing in this conversation, if you’re trying to triangulate cash, et cetera, is we did pay down a significant part of the .
Kevin Dede: Well, that’s the way where I was going because I didn’t see a balance sheet in today’s press.
Brett Moyer: Yes, it’s coming up. What — was a $3.3 million note or $3.6 million, I think it was, is down to $1.3 million.
Kevin Dede: Okay. So that’s about now, Brett? Or is that — was that year-end?
Brett Moyer: Now.
Kevin Dede: Okay. Do you have a revolver you can tap?
George Oliva: No, we’re don’t use — we don’t really have a revolver.
Brett Moyer: An ATM, you’re talking?
Kevin Dede: No. No, I’m looking for something on the debt side. I was just wondering what you have. Like, you took your — you paid off, what, $2.3 million of your debt, do you have the flexibility to go back to that if you need it?
Brett Moyer: I would assume so, but it’s not a structured revolver.
Kevin Dede: Okay.
Brett Moyer: That fund has been a very supportive fund of the vision and the business plan and the execution.
Kevin Dede: Okay. Amidst the brutal pandemic and product shortages and hell on earth that you faced for the past 3 years. So give us the sort of the share count, where is that?
George Oliva: I would say it’s currently approaching 2 million.
Kevin Dede: Okay. Okay. All right. So roughly north of $4 million cash pro forma, $1.3 million in debt and 2 million shares out. Okay. When do you — George, when do you think you’ll file your K?
