Coda Octopus Group, Inc. (NASDAQ:CODA) Q1 2024 Earnings Call Transcript

We will have our kickoff with that focus group, the 1st of April. And I’m pleased that they’ll be very impactful for our business. They’re well experienced in this area. In addition to that, and that will be a significant investment for our business, very, very significant in terms of the cost, for our business. In addition to that, one of the things we’ve been looking for, is a leader for our DAVD, tethered system technology, in Europe. And I’m pleased to report that we are close to completing that agreement, with this candidate. And that, this candidate will be based in the Netherlands, where we have the top 20 dredges in the world there. So, it’s a significant location for us. And these things take time, because you want to make sure that, the person has the right access, the right experience.

So long and short, Brian, we are continuing, to invest significantly in business development, and expanding our management team. So, our management team, not only are we short of a CFO, but the biggest thing for our business is, senior personnel at marketing and futures officer for the vision and strategy of our business. So, we will be investing heavily in expanding our management team, which I hope by this year, we have the full complement, of the team that can help us, to pivot to where shareholders want us to pivot. But it does take time.

Brian Kinstlinger: Great. Actually, just one more. The focus group, is that a third-party you’re hiring, or is that a team you’re hiring, to be part of Coda?

Annmarie Gayle: It’s a third-party team that, provides this service.

Brian Kinstlinger: Got it. Thank you so much.

Annmarie Gayle: But we also get allocated, a number of personnel to work with.

Brian Kinstlinger: Great. Thank you, Annemarie.

Annmarie Gayle: Welcome.

Operator: [Operator Instructions] With no further questions at this time, I would like to turn the conference back over to Annemarie Gayle for closing remarks.

Annmarie Gayle: Thank you very much everyone, for your continued interest in Coda. Thank you for your continued support also and have a great day. Thank you everyone.

Operator: Thank you. This will conclude today’s conference. You may disconnect your lines at this time. And thank you for your participation.