Biolargo Inc

Good day, everyone, and welcome to the BioLargo Annual 2024 Earnings Results. At this time, all participants have been placed on a listen-only mode. You can submit a question at any time by clicking on the Ask Question button on the left of your screen. Type your question into the box and hit the Send button to submit your question. It is now my pleasure to turn the floor over to your host, Brian Loper. Sir, the floor is yours.

Great. Thank you, operator. Good afternoon, everyone, and welcome to BioLargo's annual 2024 Earnings Results Conference Call. Everyone will have access to the earnings press release being issued tomorrow morning before market open, and the 10-K and 8-K reports have been 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, and market and 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 forward-looking statements. A detailed discussion of such risks and uncertainties are contained in our most recent Form 10Q, Form 8K, and other reports filed with the SEC. The company undertakes no obligation to update any forwarding statement. And with that, I now hand over the call to BioLargo's Chief Executive Officer, Dennis Calvert.

Hi, Brian, and hi, everyone. Thank you for joining us today. We're going to jump right in here. BioLargo, we make life better. The innovation engine for a better tomorrow. As everybody knows, we've been innovating for over 10 years now and have an entire portfolio, early market adoption on a couple of our assets, and a number of big projects in the wings that we think will move the needle for the company. Brian just covered all of our forward-looking statement safe harbor disclosures. Make sure we've got that, as always. Let's see. Yeah, there we go. Refer to the Ks and the Qs. Look at all the risk factors. They're real. We've been overcoming risk factors for well over a decade, and they do present some real challenges. We'll talk about some of those today, but really that's the key to our business. We're overcoming challenges on the way to market adoption. So who are we, right? Innovators, scientists, engineers, passionate about doing something important for sustainability, human health, driven to make life better, high-purpose focus. We focus on best-in-class solutions. And we focus on problems that don't have a good solution, like our PFAS. There's just not a good solution until we came along. We'll talk about that. And all these assets, right, these assets represent the potential for transformation in the marketplace. And each one of these inventions and the focus as a cornerstone of building a business and a commercial opportunity of significance really focuses with that premise, right? Potential to change a market, transformative technology. Easy to say, very difficult to do. And we aim for partnerships, very capital-conserving strategy. We invent, prove, and partner, find great partners, leverage those partners to use our toolkit, to go to the marketplace and make change. And as a result, we're able to, once we find the right partner, get through that adoption phase, get it early market adoption, prove, prove, prove, de-risk them as far as we can, get early market adoption, and when we find a partner to go and go big, it really represents a significant windfall of opportunity for us as evidenced by the proof asset, of course. In the portfolio, we're investing in a whole series of platforms, really. So the corporate office, right, focused on strategy and capital and organizational infrastructure, hiring people, CEOs. Often I get the question, how in the world can you do all this? Well, the answer is I don't. We have teams of executives and CEOs in each of these companies who are quite skilled in their art and their field. who really carry the ball. They do the work. We have an engineering group, of course, in Oak Ridge, Tennessee. Been with Snell over five years. 30-year career, mega global company experience. Literally worked all over the world. As a result of that core competency, that team of PhDs and scientists and engineers can come together and support these various enterprises and as we say, leveraging our core competency. Our core competency is science engineering for a purpose. In these assets, we've made substantial investments. In each of these, there's a history, a history of how much money did we put in, where we're at in the adoption cycle, and why do we do the things that we do. And it's important to understand in the portfolio, we focus on leveraging that core competency with high impact, ultimately get the technology seeded in the market, focus on making money, do something great, make some money, But also the exit. You know, there's often a time in the journey when you look deep into the company, you ask yourself, you know, how do you do all this and why? And, of course, as we become more skilled and gain traction in the credibility that is so critical in the marketplace by partners and by customers and by financiers, as we achieve that critical mass, we march down the journey towards exits. And we believe the exits that have a potential in our portfolio are of this magnitude. Okay? It's very critical. Big endeavors that can transform a market, right? And there's a cornerstone that allows that to happen. Unmatched technology. That's right. Number one. Capital conserving strategy. Highly qualified people. Oops. A little bit of technology here. One second. All right. I think I'll get it. There we go. Highly qualified people. Engineers, scientists, a bunch of PhDs, smart people driven by this impact opportunity, coalescing around a mission, right, and driven for this high impact. And we always say the high impact is really important, too, in the darkest of hours. And we've had some where you have to sort of just gut it out to get through the adoption cycle that sometimes has taken years. Oh, we're a decade in many cases. But Clear is a great example. We're now at that that moment of significance, and you look at the toll on people and capital and patience to get that technology just right for the adoption cycle that we believe is right here before us. And, of course, we look at a huge prize, not only in the impact it can make for human life and human suffering, for chronic wounds and infection control, but the financial implications for our company, our stakeholders, our staff, our employees, our leaders. You know, really it's an economic engine that we built, and now we get to watch the fruit of that. And, of course, as you look in the portfolio, the PFAS is a big deal. Notice that we said $1 billion and $1 billion. Each of these has a little different dynamic in the way they find adoption, but they're big. They're big. And, of course, the battery tech, we really, when we look at the model and the implication for this technology and the way we're going to market, we think it's a multibillion-dollar opportunity or more. And, again, we'll talk about how we got to that model. Okay, I get long-winded on this, and I'm going to do it. I want to open up a lot of question and answer. But the next, I think I want to turn it over to Charlie. Charlie, if you want to talk about our results briefly and any commentary you'd like to make, please do so.