And in so far as being almost halfway through Q3, we have seen some improvement in CPMs. But between now and the end of the quarter, as we all know, the world can change dramatically, just rewind a week ago and Silicon Valley Bank was not on people’s minds. And nonetheless, that bank has been taken over by the FDIC.
Allen Klee: Got it. Okay. And then you talked about a cost-cutting initiative of $2.5 million to $3 million. Is that something that — how do you think about the time that it takes to implement that?
Jonathan Reich: Sure. So I think that we started to undertake this initiative towards the tail end of Q2. And I think that for Q3, that will be more apparent in the financials. And we’re really moving quickly in order to see to it that potential is met sooner rather than later. It’s not that, this is back loaded, but rather this is something where boom, there are areas that we have cut back on cost, we’ve become more efficient and so on and so forth and that immediately benefits the entire business.
Allen Klee: Got it. And just to clarify one more big-picture question, and I’d like to get into your groups, but when you say you’re not expecting a return to growth in the near-term, do I understand that, that would mean that likely for your next fiscal quarter, your revenue growth will be down year-over-year?
Jonathan Reich: Yes, I really prefer not to share projections at this point. I think that it’s fair to say that we are doing everything within our power to see to it that we do not have a continued downturn in the business and we’re doing whatever we can in order to preserve our cash and doing our best to try to operate the company at very minimum without losing money on an aggregated basis, on a comprehensive basis, that is.
Allen Klee: Okay. In terms of your Premium Marketplace, what are your top priorities for the next quarter or two?
Jonathan Reich: Yes. Top priorities are, we continue to evolve in the marketplace and offer content that our users or prospective purchasers would be interested in purchasing that continues to be the case. We have been very clear from the outset, especially during the hype of what had happened with NFTs, that our view of NFTs has been around a technology benefit for creators and purchasers, namely Providence and the ability to ensure that you’ve bought that one or that one of a set of that digital, that particular digital item, we did not play the speculative game in terms of being the next people and we believed then, and I think it’s been proven since then, that we have been in the right in terms of taking that perspective. So we continue to operate within that regard, offering, whether it be NFTs through our NFTs Made Easy product, or non-NFT, non-tokenized content and availing that to our users at various points in their journey for a price.
Allen Klee: Okay. Great. Well, I mean, you guys have been very disciplined and quite good performance in a tough market. So I admire, what you guys are doing. Thank you so much for answering my questions.
Jonathan Reich: Thank you.
Operator: This concludes our question-and-answer session and conference call. Thank you for attending today’s presentation. You may now disconnect.
