Cemtrex, Inc. (NASDAQ:CETX) Q1 2023 Earnings Call Transcript

And I think as we make progress on those fronts, we’ll certainly keep shareholders apprised. I think it’s also important to remember that the US isn’t the only country facing border issues at the moment. We do also have seeing — we’ve seen growing demand internationally as well for border protection solutions, and I think based on again, the company’s long history and success within border protection. We believe that we can demonstrate our capabilities and garner more sales in that in border protection markets.

Q €“ Jason Kolbert: Thank you. That’s very helpful. And the last question has to do with how you’re breaking down the revenues. I understand AIS, Vicon I saw the notes, but can you talk a little bit about what the third area was, which was and it’s a nominal amount of revenue, but kind of the corporate, is that like other legacy products and other things not directly related to Vicon or AIS?

Saagar Govil: So from a presentation perspective, it’s really to separate out some of the non-operating costs for the other two segments with respect to audit fees, legal fees, public company costs and so forth. So that’s really where we put that some of those expenses in that bucket rather than allocated across both segments equally or based on a revenue number. We just breaking it out that there’s a little bit more you can drill down into the specific business operations more explicitly. And I think that kind of presentation gives more flexibility as we grow, expand contracts, if we added another segment, I mean, it just creates a little bit more visibility in terms of how’s the business doing on a standalone basis.

Q €“ Jason Kolbert: Okay. Terrific. Thanks for the update. Appreciate the questions.

Saagar Govil: My pleasure.

Operator: Thank you. Our next question comes from the line of Dennis Partners. Please go ahead.

Unidentified Analyst: Hi, Good evening. Thanks for taking my question. Listen, congratulations again on a great quarter. I love the direction you guys are heading in. I’m so grateful that you guys got rid of the business that wasn’t doing well for you. And I only have one concern. Again, I’m blowing your stock. I love the direction you’re heading. But I do have a concern. My concern is the upcoming debt that you have that’s due to March 30, 7.8 million and 9.7 million in August. How are we going to address this?

Saagar Govil : Thanks for the question, Dennis. So the company has a good relationship with those debt holders. And we’ve had debt with them in the past and we’ll continue to work with them to either extend it out or find certain ways to pay down over time. And so we believe that there’s a path there to work with it the debt holder to work out a good solution that’s fair for everybody and is works well for the company and its shareholders and it’s certainly on our mind and we’re going to continue to work to address that as we go forward.

Unidentified Analyst: Yes, because no funding I feel like you have a real strong relationship. And you guys have rolled that over many times. It’s the private investor money that I’m kind of concerned about, because it was very short-term. And obviously, we’re in a little different time than we were a year ago. So again, that’s my main concern. I mean, my God, you guys are just doing a wonderful job. If you clear this hurdle, my Lord, you guys are heading for really, really blue skies.

Saagar Govil: Yes. Appreciate that, Dennis and yes, it’s certainly on our radar and we’re working through different options and we certainly have some different options in front of us. So, we’re going to continue to pursue that and I think, drive it to a positive outcome.