Financial Data and Key Metrics Changes - For Q1 2025, the company generated revenue of $543,000, an increase from $315,000 in the prior year quarter, primarily from equipment manufacturing services and demonstrations [24] - Total operating expenses rose by 6% to $3,900,000 compared to $1,900,000 in the prior year quarter, driven by increases in professional fees, general and administrative expenses, and compensation [25] - The net loss for Q1 2025 was $3,700,000, compared to $2,000,000 in the prior year quarter [25] - Cash and cash equivalents as of March 31, 2025, were $6,900,000, down from $10,700,000 as of December 31, 2024 [26] Business Line Data and Key Metrics Changes - The revenue increase was primarily attributed to a full-scale demonstration for a customer, resulting in a services revenue increase of $376,000, offset by a decrease in equipment manufacturing revenue of approximately $162,000 [24] Market Data and Key Metrics Changes - The company is targeting a $450 billion waste destruction and management market, with a goal of achieving $250 million to $500 million in annual revenue in five years [6][21] - The company is seeing strong interest from municipal officials and the federal government, which has made significant commitments to PFAS removal and destruction [19] Company Strategy and Development Direction - The company aims to create a national network of treatment, storage, and disposal facilities (TSDF) to cover the entire United States, enhancing its waste destruction service capabilities [34] - The strategy includes a diversified approach to market development, focusing on municipal, federal, and industrial sectors [18][21] - The company is advancing strategic partnerships to establish on-site waste destruction services operations [20] Management's Comments on Operating Environment and Future Outlook - Management believes the demand for advanced environmental technologies is accelerating, positioning the company for leadership in the waste destruction sector [27] - The company is optimistic about the potential for significant revenue growth and environmental impact, with a focus on scalable and effective waste destruction solutions [29] Other Important Information - The company has made progress in optimizing its AirSquove system and has secured contracts for waste destruction services, including a significant contract with the University of North Carolina [8][17] - The company is actively pursuing additional TSDF agreements and expects to finalize more contracts in the near future [20] Q&A Session Summary Question: What is the revenue potential for the Crystal Clean deal? - The revenue potential for the AirSquo 30 unit is projected to be between $12 million and $20 million annually, depending on the material processed and utilization [34][35] Question: When is the Department of Defense demo expected to ramp up? - Mobilization for the Department of Defense demo will start in June, with on-site work beginning in July, followed by several months of demonstrations [36] Question: When will the aqueous foam destruction for North Carolina start and finish? - The initial 1,000 gallons of aqueous foam destruction is expected to start within the next month [38]

Financial Data and Key Metrics Changes - For Q1 2025, the company generated revenue of $543,000, an increase from $315,000 in the prior year quarter, primarily from equipment manufacturing services and treatability study services [24] - Total operating expenses increased by 6% to $3,900,000 compared to $1,900,000 in the prior year quarter, driven by increases in professional fees, general and administrative expenses, and compensation [25] - The net loss for Q1 2025 was $3,700,000, compared to a net loss of $2,000,000 in the prior year quarter [25] - Cash and cash equivalents as of March 31, 2025, were $6,900,000, down from $10,700,000 as of December 31, 2024 [26] Business Line Data and Key Metrics Changes - The revenue increase was primarily attributable to a full-scale demonstration for a customer, resulting in an increase in services revenue of $376,000, offset by a decrease in equipment manufacturing revenue of approximately $162,000 [24] Market Data and Key Metrics Changes - The company is targeting a $450 billion waste destruction and management market, with a goal of achieving $250 million to $500 million in annual revenue in five years [6][22] - The U.S. government has made significant commitments to the removal and destruction of PFAS and other contaminants, which positions the company to secure a meaningful share of this work [20] Company Strategy and Development Direction - The company aims to create a national network of treatment storage and disposal facilities (TSDF) to unlock material contracts and address the growing demand for advanced waste destruction solutions [28] - The commercial model includes waste destruction as a service, capital sales, and leases, providing multiple revenue streams [28] Management's Comments on Operating Environment and Future Outlook - Management believes the demand for advanced environmental technologies is accelerating, positioning the company for leadership in the sector [27] - The company is entering a pivotal phase for scaling its technology and business, with a focus on municipal, federal, and industrial markets [22][29] Other Important Information - The company has secured a waste destruction services contract with the University of North Carolina at Chapel Hill, which could be worth over $5 million in future revenues [9] - The company is advancing partner negotiations to establish regional waste destruction service operations across North America [9] Q&A Session Summary Question: What is the revenue forecast for a typical destruction as a service deal? - Management indicated that the revenue potential will depend on the type of material processed and the size of the AirSquove unit, with projections for the AirSquove 30 unit being between $12 million and $20 million annually [33] Question: When is the Department of Defense demo expected to ramp up? - The mobilization for the Department of Defense demo is expected to start in June, with on-site work beginning in July, followed by several months to complete the demonstrations [35] Question: When will the aqueous foam destruction for North Carolina start and finish? - The company is in the process of arranging to pick up the initial 1,000 gallons and expects to start the work within the next month [37]