Biolargo Inc

Good afternoon, ladies and gentlemen, and welcome to BioLargo third quarter 2022 earnings results call. At this time, all participants have been placed on a listen-only mode. It is now my pleasure to turn the floor over to your host, Brian Loper. Sir, the floor is yours.

Great. Thank you, operator. Yes, so this is Q3 2022 earnings results conference call. By now, everyone should have had access to the earnings press release. which was issued yesterday before market open and the quarterly report filed with the SEC. This call is being webcast and is available for replay. In our remarks today, we may include statements that are considered forward-looking within the meanings of securities laws, including forward-looking statements about future results of operations, business strategies and plans, our relationships with our customers, market potential growth opportunities, In addition, management may make additional forward-looking statements in response to your questions. Forward-looking statements are based on management's current knowledge and expectations as of today and are subject to certain risks and uncertainties and may cause the actual results to differ materially from the forward-looking statements. A detailed discussion of such risks and uncertainties are contained in our most recent Form 10-K, 10-Q, and other reports filed at the SEC. The company undertakes no obligation to update any forward-looking statements. And with that, I'll now hand the call over to BioLargo's Chief Executive Officer, Dennis Calvert.

Hey, Brian, thank you very much for that introduction and covering the preliminaries. I want to thank everyone for joining us. We're going to cover a lot of information as usual. There's a lot going on at BioLargo, so this will be packed full of intel. We look forward to the question and answer as well. This is a great quarter for a number of reasons. It's probably one of the best quarters and the best period of time in the history of the company. As we watch our technologies find market adoption, we see the fruits of these planting seeds for almost a decade bearing out fruit of significance. And we think that that trend will continue. And it's a great time to do a deep dive in the company. And we're going to highlight the key revenue generators and some ideas about where we think this is going in the near term future. So we've got a little bit of information for new companies People are just learning about the company. We're going to try to cover it high level. And again, we love a deep dive at another time. There's a number of subsidiaries. BioLargo started as a technology developer and evolved to become a full-service solution provider. And within the portfolio of innovations, there's really two major groups. There's three subsidiaries, BioLargo Engineering, BioLargo Water, and O&M Environmental, all of which are focused on environmental that we internally call the environmental group. They very much work hand-in-hand. Where one leaves off, another picks up. They complement each other quite well. And then we have a medical subsidiary, Clear Medical, that's been in incubation and development for a number of years. It's just finding its first customer base. It's got a clearance through 510K clearance to the FDA. A significant investment has gone into making those assets ready for market. and we think the future for Clear is quite bright. We'll speak a little bit about that at the end of the presentation. We're often asked, you know, what does BioLargo do? Before we head into the financial results, you know, the best way to describe the company really is this innovator solution provider focused on clean air, clean water, cleaner earth, bringing technology-based solutions to bear in the marketplace with this attitude of service and a solution provider's to work with clients to bring the best-of-class solution. In many cases, that represents our technology, and in some others, it does not. And I think what's unusual about the business is that we have the ability to serve well, serve with excellent results at fair pricing, and we're finding incredible attraction with that type of service offered in the marketplace. This last quarter marks another significant revenue hurdle. About 1.5 million came in as reported. Note that we've seen a steady increase. Those numbers are becoming more and more meaningful. And I think what's really exciting about this curve is the steepness by which revenues continue to climb. And we think that they can continue that way. We're going to talk about why we think that, some of the assumptions and some of the things that we know inside the company we'd like to share with you to get a glimpse of how we see the future unfolding. But we do think that trend is, as we say, scratching the surface, and it will continue. And the other is debt. You know, we just almost have such a minimal amount of debt. A SBA loan and a lot of credit with CLIRA and a small fixed price convertible at $50,000. I mean, and a PPP, right? It's such a negligible amount. It's almost meaningless. And we intend to keep it that way. You know, we relied on equity financing to get us through the last few years, and we intend to continue so. And we just think it's just a wonderful time to focus on, you know, really driving revenues, driving value, and driving enterprise value for the performance of our stock.