The Glimpse Group, Inc. (NASDAQ:VRAR) Q4 2023 Earnings Call Transcript

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Lyron Bentovim: So I think kind of obviously it showed one Meta’s commitment, renewed commitment to this space. And this is still kind of a high priority for them. Obviously, they’ve changed the name into it, but it’s showing kind of how they think about the industry. I think they had said is a step forward, it’s taking a lot of the good features, not all of them, but many of them from the Pro, which was priced too high for the market in terms of kind of mass adoption, and kind of reduced the price to a price that I think is very reasonable, while adding a very important kind of element of mixed reality, allowing you to mix the physical world with the immersive experience and really kind of timed that similar to how Apple is looking at bigger elements. So I think you can see the trends from what Apple is doing and what they’re talking about and what Meta is doing, and seeing where the next phase of this industry is going to.

Casey Ryan: Yes. Great, thank you. Those are the bulk of my questions. So I appreciate you taking the time to answer those. Thank you.

Lyron Bentovim: Thank you, Casey.

Operator: [Operator Instructions]. Okay. The next question comes from [Stephen K with SWK Consulting] (ph). Please proceed, Steven.

Unidentified Analyst: Hi. Thank you very much for the call. Did I hear you say earlier that you were going to do a raise at $1.75 a share? And if I did hear that, is there any way for any of us to participate in that, or that’s purely a single one-off institutional commitment?

Maydan Rothblum: That was a one-off deal that happened earlier today just after the close, and it is not open to other participants. But hopefully, if you’re interested, you’ll be able to find shares in the market. But this deal is a one-time opportunity that helped us put together in our balance sheet enough cash to allow us to invest in what we see is an amazing opportunity down the road.

Unidentified Analyst: Okay. Thank you very much.

Operator: Okay. The next question comes from Jordan Satary with Beeline Advisory. Jordan, please proceed.

Jordan Satary: Hello, gentlemen. Congratulations on all the success thus far. I wanted to ask, do you guys foresee in maybe coming 12 months, 24 months with the current market conditions there’ll be opportunities for more acquisitions? Is that in the plans or would you say that you’re pretty much done in terms of going harder on acquisitions and right now more focused on streamlining operations?

Lyron Bentovim: So I would love to do opportunistic acquisitions. We are actually getting a lot of very interesting opportunities in front of us. The unfortunate fact is right now there’s a big disconnect between the public markets where we’re at and that’s where our currency is and the private markets in terms of valuations. So for us to do any sizable acquisitions, we will need that to balance out or even go in our favor. So we will need to see public valuations go up and private company valuations go down for us to kind of consider doing acquisitions.

Jordan Satary: I would agree. All right. That’s it from my side.

Lyron Bentovim: Thank you, Jordan.

Operator: [Operator Instructions]. Okay. We have no further questions from the phone lines. At this time, we’ll turn to some write-in questions. Again, if you’d like to ask a question, please use the chat function. Lyron, do you have any questions from your side?

Lyron Bentovim: I do not see any. So I would like to thank each and every one of you for joining our earnings conference call. We look forward to continuing to update you on an ongoing process and growth. If we weren’t able to answer any of your questions, please reach out to us directly.

Operator: This does conclude today’s webinar. Thank you for your participation and have a wonderful day.

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