Crown(US:CRKN)2023-05-15 23:16Financial Data and Key Metrics Changes - The company raised $7 million in financing and secured a $100 million line of credit, indicating strong financial positioning [6] - An extension was filed for the quarterly report to allow thorough review, with a filing expected before May 22 [6] Business Line Data and Key Metrics Changes - The electro-kinetic business achieved a significant milestone by producing its first prototype measuring seven feet by two feet, paving the way for the first-generation smart window insert [7][8] - The fiber optics division signed its fourth Master Service Agreement (MSA) in the Northwest region, marking the acquisition of a third new customer since the asset purchase agreement in January [13] Market Data and Key Metrics Changes - There is strong demand for fiber optic networks across the country, driven by efforts to deploy fiber optics to homes and businesses, as well as the rollout of 5G signals [17][18] Company Strategy and Development Direction - The primary focus is on creating a smart window insert for US office buildings, with plans to launch the product in the next three to four months [8][9] - The company aims to clean up its balance sheet by repaying and retiring debt, positioning itself for future growth in both the fiber optic and smart window insert markets [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, particularly regarding the fiber optic division and the smart window insert, highlighting significant opportunities for growth [26][39] - The company is working to resolve NASDAQ listing requirements, with an extension granted until August 28 to meet bid price and equity balance guidelines [19][21] Other Important Information - The company is actively engaging with analysts in the telecommunications infrastructure sector to potentially gain coverage in the coming months [22] - A shareholder letter will be issued in the next two to three weeks to provide updated guidance on revenue and EBITDA for 2023 [16] Q&A Session Summary Question: When will the first units be received by customers? - Management confirmed that some technical issues have been resolved, and they are confident in delivering the first product in the next three to four months [31] Question: How will the company scale to handle the volume of opportunities in fiber optics? - The company plans to grow through careful project selection and management, leveraging partnerships with smaller contractors for equipment and field technicians [34] Question: What are the next steps regarding NASDAQ listing? - Management reiterated that they are on track to meet the equity guideline and bid price guideline by the August 28 deadline [35] Question: When might the company achieve cash flow positive status? - Management indicated that updated guidance on revenue and EBITDA will be provided once a purchase order from the fourth contract is secured [36] Question: How has the company evolved in the fiber optic industry? - Management reflected on the significant progress made over the past year, positioning the company for growth and revenue production in a promising industry [37]