Financial Data and Key Metrics Changes - The company recognized approximately $133,000 in revenues for Q2 2025, compared to $45,000 for the same period in 2024, indicating a significant year-over-year increase driven by spare parts orders and a boiler burner sale [5][6] - The net loss decreased by approximately $200,000 compared to the same period in 2024, primarily due to a $155,000 reduction in research and development expenses [6] - Net cash used in operations for Q2 was approximately $511,000, a favorable reduction from approximately $1,500,000 in Q2 2024, driven by customer cash collections [7] Business Line Data and Key Metrics Changes - The company has seen strong interest in the M Series product line, particularly from the midstream sector, with ongoing inquiries and orders [30][31] - The company is developing a new M25 burner to meet market demand for a slightly higher NOx level burner, indicating a strategic expansion of its product offerings [32][34] Market Data and Key Metrics Changes - The company reported a resurgence of interest in flare burners, with proposals for flare replacement burners and complete flare systems significantly increasing year-over-year [41] - The company is experiencing delays in order timelines due to market uncertainty, but no orders have been lost [13][57] Company Strategy and Development Direction - The company is focused on diversifying its product line and enhancing technology, with significant work on new products and engineering orders driven by customer demand [17][20] - The partnership with Zico is crucial for expanding market reach and enhancing product offerings, as Zico is a leading global combustion equipment company [67][70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about upcoming installations and technology developments, highlighting the importance of major references in the market [55][56] - There is an expectation of regulatory changes in Texas that could create new opportunities for the company, despite current market uncertainties [56][57] Other Important Information - The company filed a registration statement on Form S-1 for administrative purposes related to redeemable warrants, with no new securities being offered [7] - The engineering team has been recognized for their efforts in developing new technologies, which are expected to lay the foundation for future growth [60] Q&A Session Summary Question: Concerns about board transitions - Management reassured that recent board changes are not a concern and that the new board members are energized to support company growth [11][12] Question: Status of the hydrogen burner development project - The project is progressing well, with new burner designs in manufacture and scheduled for installation and demonstration [22][23] Question: Utilization of CFD in product lines - CFD (Computational Fluid Dynamics) is used for modeling and optimizing burner designs, significantly aiding in product development [72][75] Question: Cash balance from Q1 to Q2 - Cash and cash equivalents decreased from approximately $12,800,000 in Q1 to $12,300,000 in Q2, primarily due to cash used in operations [77] Question: Importance of Zico partnership - Zico is a significant partner for the company, providing essential manufacturing capabilities and market access, enhancing the ClearSign product line [67][70]