Realbotix Corp. ($XBOTF)

Hello, and welcome to the Realbotix Financial Update Call. My name is Jennifer, and today, we are joined by CEO, Andrew Kiguel; and CFO, Scott Meyers. [Operator Instructions] I will now turn the call over to Andrew.

Thanks, Jennifer. Welcome, everybody, to our call, I guess, for year-end and Q1. As you will know, I don't do sort of the traditional thing, but I sort of want to just chat about the business and some various things. I want to talk first about some of the areas in the business, our business that need work and then talk somewhat about the positives and then outlook. So not in any particular order, but our reporting and finance structure certainly proved -- last year certainly proved to be a weakness for the company. Our previous CFO was a contractor, not an employee and in retrospect, not well equipped to handle the business as it was growing and we were pivoting out of crypto. He also had a bunch of personal issues to deal with, and this had a negative impact in a few ways, primarily in us not having the adequate controls to ensure a smooth and efficient audit within the reporting timeline, which is why we need to request those extensions. What we've done since then, we really had to start our audit on the back foot, just being late. You saw from the numbers, there were no issues. There's no money missing or anything like that. It was just really a function of starting late with our new CFO and a new audit firm. Our prior CFO has been replaced by a full-time employee, Scott, who's been working out extremely well. He has over 20 years of experience in working with public companies. We've also augmented his team with another finance professional. And at this point, we're feeling very confident that the prior issues related to sort of controls and reporting, again, not related to the business, but really just having those controls are behind us and new improved systems are in place. With Scott's experience and the team that we're building, we'll have more timely and consistent financial reporting and standards. Second area, I would say, to bring up is revenue. We're -- we have a new product, like really, we're selling AI, we're selling robots. This is a new market that's being established. I've said this before, but we need to do more to generate revenues, more marketing, advertising, trial tests in real-world situations. Our revenue story is more about the future, obviously. You're not going to wake up and have us report $20 million for a quarter this year. But we're building towards greater revenue numbers. It takes time. I note that we have lost some revenue because we pivoted away from crypto, staking. That business was discontinued last year. We've augmented the sales team. We're starting to establish our ability to scale. We're going to lean more into our efforts to do more advertising and marketing and putting the robots in different places. So we are aware that, that is an area that we need to continue to deal with. Next on my list in terms of, again, areas where we -- of improvement or areas we need to address would be the deal with Onco, the NASDAQ vehicle. The market has not reacted positively to this deal. I'll reiterate that this is a very good deal for our shareholders. We currently own 2 operating subsidiaries. I'm not going to get too much into this because we've press released this before. But in this transaction, we would move our ownership from one of those subsidiaries from being privately held by us to it being held in a NASDAQ vehicle. This is commonly referred to as a reverse takeover. What we give up in the most likely scenario is 10% ownership in that subsidiary. In return, we'll own 90% of the vehicle, appoint 4 of 5 directors, and there is a minimum cash requirement on the other side of $12.5 million. The easy math on that, excluding the value of the vehicle means that they're valuing 10% of our business for $12.5 million or simple math, a gross value of $125 million. That's multiples of where the entire company trades now. And we retain the upside in the business. It's not leaving, it's not a sale of the business. We still retain the upside and the ownership. So again, this is a good deal. If the market chooses to not understand it, then that's on us. But I think in this, we receive a superior valuation, cash, a NASDAQ vehicle, and we do all that without issuing a share. There's no share consolidation. And if the market continues to optically vote down this transaction and we don't, for whatever reason, move ahead with this, the result is we'll just need to finance the growth of the robotics business internally, which would require us having to issue shares at some point. Again, as part of this transaction, there's no action required by Robotics shareholders. But to combat misinformation, we are working on a marketing and communication strategy. This is not a deal that closes tomorrow. We still have a few months, and there's several approvals and things that are required. And we hope that as the market learns more about it and that we technically will be the first pure-play humanoid robot to be listed on the NASDAQ that the value in our business becomes apparent, which leads me sort of to the next point, which is our share price. As many investors have messaged me, it's been a poor start to the year. There's just been more sellers than buyers. Despite us putting out positive news, having amazing technology with like really no competition, we continue to lose value. Some things are market sentiment, macro events that are out of our control. Micro-caps have had a hard time this year. Other things like operations and News Flow are in our control, and we're working on improving those and that communication to make sure. What I can say is that myself and our people that work for us feel that we are grossly undervalued in the market. There are certainly other things that stake there. I speak to people from other robot companies or people that know intimately about other robot companies. And while our robots don't have the same physical characteristics as other robots because they don't need to for the purposes they are built, I think everyone recognizes outside that we are like ridiculously undervalued here. Our limited physical capabilities in the robots are an advantage. It means longer battery, the ability to plug in, the ability to work 24/7 as concierge, as receptionist. The ability for them to look human and integrate vision and AI is unique in an all-in-one solution. And I've said before, I think our end markets are likely larger. And today, we have no real competition in North America. Many private companies in the robotics space have multibillion-dollar valuations. And in some ways, they're ahead, maybe bigger facilities, a little bit ahead of us in terms of things like manufacturing. But in many other ways, particularly with respect to the most valuable parts, which is the technology that's behind. And there's no question in my mind, we're undervalued by the capital markets today. And obviously, that's a disappointment to us because we are trying, and we can't control the share price, but what we can do is try to control and keep building the momentum. I'll give you an example of something somebody sent me today. There's a company called AMI that just raised $1 billion at a $3.5 million pre-money valuation, meaning their valuation prior to raising money was $3.5 billion. Their mission that I read, this is about 20 minutes before this call, their mission is to build AI systems that understand real-world environments, retain memory and can act based on reasoning. And I sort of look to what we're doing and I'm like, hey, we've already done that. We don't need -- we've built it. And not only have we built that, but we've integrated into a robotic AI vision system, and we build robots that look like humans. And you can look at our market cap, it's probably somewhere between USD 40 million and USD 50 million today. These could have a $1 billion valuation to build a portion of our business that we've already built. And so again, I'm sure they're doing things in a different way, and that's very high level. But on a comparable basis to where valuations these private companies are getting, we're certainly -- there's a massive gap. We recognize that. We're working on strategies. It's -- like I said, people message me all the time, we don't control the share price. I wish the share price would go up. It's just based on how many buyers versus sellers and what other things happen out there. On the positive side, we've upgraded our staff in many areas. We have more announcements for new staff coming, but we've had a couple of big new hires. I talked about augmenting on the finance and accounting side. We also hired Eric Olsen, our new COO. He came from Agility Robotics. That's one of those companies with multibillion-dollar valuations, and he saw the value and what we're doing our end markets, the fact that we are so undervalued in what we can do with our technology, and he's super excited. He's been on the job now for about a month and working out extremely well. We're continuing to get calls from people working at other robotics companies who are looking to come and want to talk to us because, a, they're unhappy, they see the progress maybe not moving as quickly where they are. And they see that we have, I think, a pretty good culture, and we're working on some pretty cool things. We continue to put our robots into groundbreaking type environments and placements. We recently put Aria in a car, and she drove around with a tech influencer by the name of Ashlee Vance. He also wrote an Elon Musk biography that was quite popular. He was blown away by the technology. We've done other things like having 2 robots speak to each other. We did that at CES, which is Embodied AI, speaking to Embodied AI. I don't know that anybody has ever done that before publicly. I think that's a revolutionary thing. But again, I think some of this stuff gets lost. Our vision system is top-notch, and we're so confident in it that we don't hold that back. We don't hide it. A lot of our peers that talk about having vision systems never display it, never post it, which makes me feel maybe they're not as confident in it as we are in ours. Other things that we've done, we sold the Tokens.com domain name for close to $2.5 million to Bed Bath & Beyond. That adds extra cash. We exited crypto last year at a very good time, certainly with prices far higher than they are today. As I always said, it's very hard to plan an operating business when you're using crypto as where you keep your treasury because one day you have 6 months of cash flow or 6 months of burn available and the next day, you have 12 months, and it keeps moving around. It was the right decision for our business to exit. I still own the fund of crypto, but the right decision for us to exit and have that certainty of having cash. As people would see from the press release, we're sitting on a good amount of cash. I've spoken already about the positive of the Onco deal. I think once we are listed on the NASDAQ, that's a gateway for us to open up value when institutions and retail from all over the world can start investing in us. Right now, to invest in us in U.S. dollars, you can only use our OTC listing. Many areas and firms and people are prohibited from investing there. And so we think our ability to open up and should lead to people being able to invest more freely in us. We're debt free, and we have cash on hand to last a long time. Our balance sheet is strong. We have the ability to grow the business without having to go desperately to the market or worry about debt repayments or things like that. That was a key thing that we did. And so again, that's not entirely reflected in this last quarter because it preceded the final payments. But as of today, our balance sheet looks good, and we have no debt. And I think that's pretty good for a company like ours. We have a unique set of IP and valuable patents that I believe down the road are going to really show their worth. Again, our tech is unique, and we can see it resonating with people we speak to on the client side in various areas. So we're excited. The future and what to expect. This will be my sort of the last area, and then I'll turn it over to some questions. We're deep in conversations with several groups around new sales. It's a key area for us. We're going to be launching AI-only products this year, meaning that one of the great things about what we're building is, again, we want to emphasize we're an AI company and a robotics company. Our AI is portable, so you can access it via your phone, your computer, your laptop or your robot. And what we're seeing is that I think there'd be an interesting demand for people as an entry product that just have the AI as a starting point. So you can have your companion or friend or product expert or teacher or tutor on your computer. It gives us a source of recurring monthly revenue and then you can choose to transport that up to the robot. The robots are also should be viewed as a robot as a platform. And what I mean by that is that our robots certainly have the capability to run our AI that we have, but it can also run other AIs. And so right now, we have sometimes running ChatGPT, Gemini, Claude, whatever it is and our AI. And many companies have Proprietary AI that they want to use. And there's a lot of AI companies out there, thousands. There's not a lot of robot companies out there. There's probably, I would say, half a dozen real robot companies based in North America. We plan to have more robots in interesting and commercial locations this year. We're speaking to schools, nursing homes. There's more products being delivered to Ericsson. We continue to have a good relationship with them as sort of a landmark commercial client. I don't know if anybody saw they launched their 6G initiative a couple of weeks ago, and the robot they purchased from us Aria, it was front and center in their marketing, global marketing. Now sort of again, we're doing all these things. We're moving to a new location in April. That will allow us to scale better, put functional teams together in the right environment so they can collaborate better and we can continue to build this business. But all the things that we're doing is we're managing sort of growth, building a new market, figuring out how to scale and thinking not just about today, but where we're going to be in 12 months, 2 years, 5 years with the view of building a multibillion-dollar business. So with that, I'd say, look, no road is without cracks. The path is going to have speed bumps. We're probably going to fall into some potholes. We are a micro-cap company seeking to build in what many people estimate, including myself, to be the largest businesses in the world over the course of the next decade, and that's being AI agents and humanoid robots. I feel our solution has better use cases in a larger end market than what everybody else is doing. I think the more we talk to people, they see the vision, and it's pretty clear and obvious. The risk is on me and this team to execute. There's obviously risk involved in our being this ambitious. We're not out raising $1 billion at $3 billion valuations. We're still a small company. We need to get over that hump that people think we're a novelty. We're not. I actually think the other robots are novelties. There's not much you can do with a robot that does karate chops into the air. There's a lot you can do with a robot that speaks 100 languages, can see you, understand the environment and communicate information. So look, our shares aren't going to go straight up. If it was easy without risk, everybody would do it. We obviously want the shares to go up, but the capital markets I have found are impossible to predict and control. Certainly, a lot of the initiatives we've done, including the Onco deal, this deal with NASDAQ, which we thought would receive a very positive market reaction, didn't. So what I do know is that I think our shares and our stock and our company is worth a lot more than we are trading. And I think a lot of people would agree, you just have to look at the private markets to see where those valuations are for companies looking to build things we already have to get a very clear indication. So just going to wrap up here and say morale internally is super strong. We all feel extremely positive and feel we're building a strong special company that can be a giant in the future. We get validation on our products weekly from visitors, media and clients. While from a capital markets perspective, it's hard to gauge because you see the share price going down, that's certainly not how we feel internally. That's not the feeling I get when I'm walking around our facility and everyone is excited and we're continuing to build and recruit more people. But with that, I thank everybody for their patience. It's been a rocky start to the year for sure into the reporting. We're aiming to improve. It's not an easy road to build a business, and we are aligned with shareholders. So maybe with that, I'm going to turn it over to Jen, who will provide instructions on questions.

[Operator Instructions]

So Kevin, thank you for your question. A few questions here, I'll get to them. So -- how is the robot market evolving? The first question. Here's how I see things evolving. The robot market to me is bifurcating in that a lot of the peers in the North American companies are really trying to copy each other by building what I would call cyborg-looking robots. They're metallic or plastic looking. There's no facial expressions. They're not trying to make them look like humans. And their technology is largely based on repetitive tasks that are programmed in. None to me that I've seen has demonstrated a real vision system. None that I have seen integrate in with AI. It's really just preprogrammed stuff. And they're meant to do repetitive tasks. A lot of them are being sold into the industrial space. And then you have us as sort of this weird outlier that is thinking about things very differently. We're thinking about robots as being human-centric, like being placed in public environments. And the fact that our robots don't walk provide for a few advantages. So robots that walk, number one, provide a safety hazard. When they don't have vision, a lot of the stuff you see online is a lot of smoke and mirrors, it's pre-scripted and edited. But you can't have a robot today with the technology we have just walking around the mall. It's dangerous. The other piece of that is that the battery life is limited. I think even the most ambitious battery lives out there might get to 45 minutes, but most of these robots have a max of like 30 minutes, some only 15 minutes. You can't have a receptionist working somewhere, providing information whose battery needs to be recharge for 3 or 4 hours every 15 to 20 minutes. It just doesn't work. And so I do think there's sort of this divergence to us who are really looking at this human-centric area, which is robots in schools, hospitals, seniors homes, malls, hotels, casinos versus -- and that can be operating 24 hours a day, 7 days a week versus people who are trying to make sort of cyborg that can lift boxes around a warehouse. In terms of the demand, how would I demand robots versus AI software. So we started doing the AI avatars as a way for people who were buying robots to test the AI going in. Think about it as sort of the fine-tuning of the LLM where they didn't have to come into our warehouse or we didn't have to throw the robot up and do it with the robot. And people start to come back to us and saying, "Hey, this is very cool. We'd like to put it on our website. Can we do something like that? Can we talk about it? And then we started talking to other people and being like this AI, it's the exact same AI that goes into the robot. We have the ability to channel it through various mediums. And I think the demand for that is because we can start doing that and selling friends or campaigns or things at a much lower price, call it, like $9, $10 a month, it opens up the ability for people to get comfortable with AI. And while there are some forms of AI out there that are like more for social reasons, because we build our AI on top of other LLMs, you could use what we have in a similar way to a ChatGPT or a Claude, but it will have a friendly interface that will remember you, provide you with a smile or a joke or other things that I think in a much more social human-centric way than other AIs that are out there. So again, we're sort of tackling something in a completely different way than everybody else. And then the person can choose to say, "Hey, I really like this AI. I've gotten to know it. It's serving me a purpose maybe as an HR consultant or legal consultant with this friendly face to it. I can put it into a robot that I can use as a receptionist or a host, security, whatever it is, and it's transportable. And so I think we're the only people thinking about robotics and AI in sort of this interchangeable portable way. Our robots can come apart from the legs, the torso, the head and you can pack it in a suitcase. The robot can run various AIs. Our AI can run a computer in various place. We can plug the robots in or you can have a motorized wheelbase that moves around. We're really thinking about our products in a very flexible manner that can be accessed and used today. Revenue trajectory this year, I expect revenues to go up, but I don't give targets. With respect to margins, I'm hoping that they'll increase. I think as Scott integrates and he's had a bit of a throwing Scott into the water and learning how to swim because he came in and we had to get this audit done so quickly with him being sort of new and on his own. I think we'll have better information on that, but we do aim for larger margins. And I think we will be able to do that as we scale, we move into our new facility, and we have a lot of initiatives going on that will help us reduce the cost of the robots. How have we improved our manufacturing capabilities? So we haven't yet. We got the keys to the new facility 10 days ago. We're doing some work out in that facility. And once we're there, we actually reorganized how we're going to lay everything out and so that we'll be able to manufacture quicker. We've brought in new staff and as well, we continue to explore and have conversations with third-party manufacturers that can perform some of the work that I would say is less technical, but takes up time, and they can probably do that for us at a cheaper way. In terms of component outsourcing with tariffs, not really. The only thing that we import from abroad would be some of the smaller motors. It's a small component in our robots, but we still manufacture everything like we 3D print our stuff, we make our own skin, we build all the stuff. A lot of the things we do, we do it all internally. So we haven't seen an impact on our cost based on anything related to the tariffs. I'll just end this here, and I'll move to some other questions because there are some other ones here. Where do we stand on the Ericsson agreement? And robot demand. So the relationship with Ericsson is very good. We're delivering another robot to them with the vision system this month. They've been using it in the ones that they have in various use cases. It's a good relationship. We talk to them frequently. We hope it will grow. It's a marquee client for us. And in terms of robot demand, in general, the interest level continues to grow. I always say this is we're always in conversations with many people. My biggest fear is not the selling, it's the manufacturing. I know we could probably close a bunch of deals here and get the revenues up very quickly. But if we're not able to deliver on time and a quality product, that's not going to serve us or shareholders over the long run. And that's an area where someone like Eric, our new COO, comes in very handy because he's been through a lot of these growing pains, and we're able to leverage his knowledge and be like, okay, 5 years ago when Agility was building and doing this, like where are they -- how do they solve for this? And so we're getting a huge amount of great intelligence from that. Someone asked, are robots being utilized at Ericsson? Yes, the feedback has been very positive. As I said, they launched a Global 6G initiative a couple of weeks ago. And if you look at all of their ads, press releases, everything, it's Aria's face right on it. So it's been going very positively. Why scale if no demand? I think that's not an accurate question. I think we are definitely seeing demand. And also not sure by scale, what we're doing is, number one, we're moving to a new facility, not necessarily because it's larger because the old facility lease was running out. So what we found is a more practical space that gives us the ability to grow. But what I would say is we're trying to build a $1 billion business here. We need to build the capabilities to grow. Otherwise, what are we doing? Another question here is what does the company -- what does the competition for the company look like? So there's a little bit of overlap. So in North America, I'm not seeing any competition. And if you speak to companies, this is something Ericsson said to us, which is we've talked to robot companies all over the world. Nobody can do what you do. There are some sort of pre-program robots out of Asia that -- in China and Japan that look sort of human-like. I think they're lacking on the AI part. I think they're lacking on the versatility and the functionality that ours has like the ability to integrate various AIs, the ability to be mobile, battery like, things like that. But I'm not seeing any real competition. In terms of here, it's the companion relational humanoid robot company, well, we're working on that. And I think as we move the commercial business to this NASDAQ entity, the XBOT that remains, we're going to lean very heavily into that sort of companionship well-being side, and we're bringing in some leadership there as well to lead that, which I think is going to be a really good big announcement as well. Are there any plans for marketing campaigns? So we have been talking to a lot of people. We've been getting a lot of requests. We actually were planning to do one in the Middle East. We decided to cancel that just given the events going on there. We are talking to people about doing things in places like New York, in Spain. We're trying to focus in our backyard, which is Las Vegas. There's tons of conferences there. They're all high profile. But person says, I haven't seen much of that since October last year where we were at CES in January. And the other part of it is -- every time we do a show, it takes away and it delays us on us being able to launch stuff. We're not a huge company. We're -- I think at this point, we're maybe 15, 16 people growing, we'll probably hire another 4 to 5 this year. But you got to remember, every time we go and we do these shows, it's at the expense of putting other things aside. We actually have a lot of robot deliveries to make back to someone's previous question, and we're going to put out a press release around this, but I believe between now and the next couple of months, I think we have about 15 robots or robot-type things to deliver for clients. It's a pretty big number. And so we want to be on time. There's a lot of stuff to build like the user manuals, the documentation, the shipping, all these things that we're working on. But I think that's a pretty good number that we're shipping out. Like the demand is there. And keeping in mind, we haven't invested a dollar into any marketing or advertising. It's all coming organically as we're sort of putting these pieces together. Somebody is asking when the MCTO to be lifted. I think it's lifted. Once we file, I'll confirm there with our legal counsel if there's anything we need to do, but it's been lifted. Essentially, the way that works is once you file -- and that's just MCTO is a management cease trade order. It basically means that until our financials are filed, we can't trade the stock, which makes sense. It's the view like, hey, if we had some bad news or positive news, you don't want us in the market buying ahead of the market. Everything is now fully disclosed. There's no private information of the company. Obviously, there's things we're working on in news and deals. But primarily, there's -- everything is disclosed. Someone's asking me how is the reverse merger valuation at $120 million? Okay. This is to Adam, it's basic math. They're valuing 10% of the company at $12.5 million. So if you just reverse that, it comes out to $125 million. The market cap there doesn't matter. Something I'll put -- make very clear. The Onco Share Price makes no difference to our shareholders, 0. They could go to $0.01, they could go to $100. It doesn't matter. We have a deal that is based on closing that we would receive the vehicle, 90% ownership and the vehicle would have $12.5 million in it. So we're giving up 10% of the vehicle in return for $12.5 million plus whatever the value is, their market cap doesn't matter. I think that just needs to be clear. And I don't want to keep going back over through that stuff. In terms of the S-4 approval, I think that relates back to Onco. We're having conversations. I think they were talking about filing it in June. And I anticipate that this transaction will take, honestly, at the earliest, I think another 4 months, at the latest, another 7 is where I'm estimating. That's normal for a reverse takeover. And like I said, there's lots of time here for us to do stuff. Somebody asked if we're still working with the largest retailer in North America. So just to correct my words, we're working with one of the largest retailers in North America, and we recently did get sort of a thumbs up to start moving towards a trial, which pays we would put a robot into one of the stores. Everything obviously is fluid, but yes, we continue to do that. That is -- again, the way it sort of works with a lot of people, this is how it worked with Ericsson is it starts off with a robot rental, which may be $20,000 or $25,000. And if you go in and you do a good job, results hopefully in a purchase of robots, which then develops a relationship and we keep going. Somebody is asking here about the placement in October, broker associates did not put us in good hands. So there was really one main buyer to that deal. And someone is asking about the private placement that we did last year, which was the CAD 7 million at $0.50 with the warrants at $0.75. And yes, that's true. I mean there's a problem. And here is the situation with that. We were told that this fund, which was the buyer and the responsible party on either side, was a long buyer. They love the story. We did a few meetings with them, and they offered to take down the whole deal, and it was a prestigious name, and we were like, well, that makes a ton of sense. And I think the next day after we launched this deal, we found that they started doing -- acting like a hedge fund and selling and doing things that probably in the U.S. wouldn't be allowed, but are allowed in Canada, which is naked short selling. And you're right, it didn't serve us well. And there was a period of time there where I was like, do we pull the deal? What do we do here? And it was decided by myself and the Board that if we pulled the deal, we could still be stuck with a very low share price and no capital. And at least with the capital, we could pursue the NASDAQ deal, repay debt and put the company in better shape. And so that's what we decided to do. It was -- like I said, it was all really placed in the hands of one buyer. We talked to lawyers and stuff around that. It's not an ideal situation, but it happens to other companies, and it's part of this being a micro-cap company. We've learned from that. Obviously, we'll be more cautious around that. And yes, some responsibility definitely lays on us and some of it lays on the agent who put that deal together and did not provide full disclosure on that. That's a problem. When is the deal with Onco finalizing and what would prevent it? I think I've mentioned the timing. What would prevent it is if for some reason -- so I think they have a good hold on their shareholders, if for whatever reason their shareholders decline the deal, they have to have a shareholders' vote. And if for some reason, the regulators decided not to move forward. I find the risk on the regulators to be very low. We're a good company. I think we match and we fit. I think the NASDAQ should be excited to have us listed there. I think the risk on the Onco side possibly warranted. I think they're still a ways away and there's time for us to market that. That's on them. And obviously, we'll help them with the marketing and to explain to their shareholders why this is such a great deal. Although I think many of the key shareholders have already bought in and are on side with the deal. But yes, I mean, ultimately, the market reaction to this hasn't been positive. I don't know why. This is a great deal for both sides, and it's unfortunate. Somebody is saying here that after CES, one of the bad weeks for the stock price, YouTube are saying, our robots are worse than Disney animatronics from 20 years ago. The way -- and it's asked how do we change that perception. So here's something to understand. So Animatronics from something like Disney are generally giant-sized mechanical puppets that are programmed to repeat the same thing over and over and over again. They're made out of plastic. In order for us to move from being a utility -- sorry, from being a novelty to being a utility means we have to do something better. So our robots physically aren't moving boxes around or things like that. They do have motorized wheelbases, their hands move. The faces can show happy, sad, angry. And part of that is because they're meant to be human-centric. To build lips and a mouth that moves in conjunction to what a robot is saying via any AI is extremely difficult to do. To have a robot that can interpret and listen to you in any language you speak to it in is extremely hard to do and to have a robot that has a vision system that can actually recognize colors, read, see facial cues, is this person happy or sad and make decisions based on that is -- I've not seen anybody else on the planet do it. And so what I would say to that person is, look, -- what you get a lot of this is that people go out and they're trying to find clickbait either by putting things down or hyping things up. I think our technology is incredible. I think the ability to have a robot that can think and see and react and looks human is completely unique all-in-one solution that nobody else in the world has. There's always going to be doubters and haters. The way we combat that is by continuing to make sales, put robots in places like robots with memory that can see, like no one is doing that. That's certainly not a Disney animatronic. Maybe I'll end off with this last question. Someone asked is Aria the most beautiful robot in the world at the moment. I would say, I don't know. So people understand the Aria. Aria has several faces. I don't know if anyone has been to our website and can see -- and by the way, there's a new deck on the website, which goes a little bit deeper into the AI capabilities as well and some of the features of the robots. But we have this face change technology that we've patented, which allows you to have one robot with multiple personalities. And so there's videos of this, but you can basically magnetically lift the face off, put a different face on with a different wig, which is why sometimes people message me and say, "Oh, Aria looks so good here, and I didn't like the way she looked here. You don't realize as we swap those faces around because at any given time, there might be an Aria in several locations doing different things. Same thing with the Melody's and the David's and all that. And so we're constantly developing or looking to experiment with new characters, but we find with having sort of an Aria as sort of an ongoing known person, we can build a brand around that. And similarly to how people think about Optimus or Digit or some of these other robots, we want people to think, oh, Aria, that's the human-looking robot from robotics that has programmable AI, has a vision system, can speak multiple languages and plugs into the wall and can talk 24/7. Again, these are not Animatronics. Certainly, we borrow from some things from the Animatronics side on the robot side, but that animatronic at Disney is just a program toy. Aria and our robots function autonomously. Like we left Aria in Times Square for 5 or 6 days, just talking to people on the street, they were taking selfie, speaking different languages, telling jokes, we have that much confidence in our robots and AI. Aria did a solo interview with CNN that should be coming out this month. She did a solo interview on a podcast. I don't see any other company on the planet having a robot that can do any of the things that we're doing with respect to making decisions and acting autonomously. So with that, I'll leave it. I thank everybody for their patience. I know that this has been, frankly, a [indiscernible] start to the year and some things here that weren't planned. As I said, there's always cracks in the road. I'm sure at some point, we'll fall into more potholes. I don't see any right now. We're excited about the Onco transaction and moving to the NASDAQ. We're excited about what we're building, and we have some positive things that we're working on that hopefully will all get press released and announced in the course of the next 8 weeks. With that, thank you, Jen. I'll turn it back over to you just to close it off.

Thank you, everybody, for joining, and this concludes our financial call. Thanks again.