Robert Blum: All right. Great. Next question we have here, does SenesTech have the manufacturing capacity today to fill these orders? If not, what does the manufacturing time line over the next few quarters look like?
Joel Fruendt: Tom, why don’t you take that one?
Tom Chesterman: Sure. Yes. Yes, we have the capacity. We were confident that the demand would be there for Evolve and would grow quickly. So we design our processes to be very easily scalable. So we don’t have any worries there.
Robert Blum: Okay. Great. Two more questions here. SenesTech raised a few million dollars through warrants recently. And sort of as you hope to enter this rapid growth phase this year and next, does the company plan to raise capital by continuing to issue stock warrants? Or will there start adding debts to the balance sheet?
Tom Chesterman: Yes. Maybe I’ll take that one, too. It may be a bit early for cash flow-based debt, but we’re already using asset-based financing for our production equipment requirements. In addition, the financing we recently did had $5 million worth of short-term warrants, which have to be exercised in about a year or they expire. We have found that these short-term warrants are an excellent source of cash without having to do other deals.
Robert Blum: Okay. Great. And final question here. Has any competition with Evolve involving the active ingredients enter the market? Anything you can discuss on that topic.
Joel Fruendt: No, we haven’t seen anything — any companies, any other products enter the market. We have a patent pending on Evolve. ContraPest has issued patents around it. So we don’t believe that there will be any competition in the near term, for sure.
Robert Blum: All right. Fantastic. That’s the question we have here on this side. Anthony, operator, I’ll turn it back over to you.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to management for any closing remarks.
Joel Fruendt: Sure. Thank you. Our goal for 2024 is really all about sales execution, while remaining innovative through the introduction of new and innovative products to the market, such as the mouse product we talked about. My excitement is as high as it has been since I joined the company. I believe we have the right mix of product offerings and team member enthusiasm to fully attack the large and growing rodent control market, market that is desperately in need of innovation. And fertility control is that innovation and SenesTech is clearly leading the way. So we thank you for all your continued support.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
