Tuesday 25 September 2018

BioLargo CEO Dennis Calvert Reports Breakthrough Commercial Success

Today our President and CEO Dennis Calvert appeared on Uptick Newswire's Stock Day Podcast with Everett Jolly to talk about some highlights of our company's important successes in the past months.

You can listen to the interview right here!

  • BioLargo’s odor and VOC control division is company’s first big commercial success
    • On current run rate, sales are predicted to top $1M for 2018
    • Our flagship product, CupriDyne® Clean, recently secured a fourth national waste handling industry account, and is processing its fifth national account now
    • The company is hiring more staff to continue expanding the product’s regional adoption for national accounts – two of the company’s national accounts awarded 100% adoption of CupriDyne Clean in Southern California (Orange County + Los Angeles)
    • Total addressable market (TAM) for odor control product is estimated at $1.31B USD*.
      • Landfills: $228M
      • Composting: $118M
      • Transfer stations: $365M
      • WWT Plants: $720M
      • *(Based on the assumption, which the company has previously reported that its smaller target locations should average approximately $4,000 in potential revenues per month, and larger locations account for $10,000 in potential revenues per month.)
    • Our current national accounts have 1,929 locations
    • We have expanded from only selling odor control products to offering a complete odor control solution, including: full-service engineering, design, construction and installation of delivery systems, and monthly maintenance and services for landfills, waste transfer stations, recycling centers and wastewater treatment plants
  • An update on Clyra Medical’s FDA 510(k) application in process
    • Recall that our first application from late last year was re-directed into the office of combination products – we decided that given the various demands that would be required under that route, and in light of our financial resources for Clyra, our best move was to re-apply with the FDA under 510 (k) with a new product. The first product it is on hold until we can revisit the product strategy later with more resources
    • The Company filed a new 510 (k) application in June of 2018
    • We have received questions and comments about our application from the FDA and are processing those now
    • While the timing and outcomes are unpredictable given the nature of the process, we are not deterred and intend to push through the arduous process until successful
    • We want to remind our stockholders that as a platform technology company we have a long menu of product designs to choose from and pursue as resources permit and we have experts in this area working with the company
  • Our plan to up-list the company’s stock to Nasdaq
    • OTC is an increasingly difficult place for a company’s  stock to be traded. The pool of investors is limited, and many investors are prohibited from investing in stocks on the OTC.
    • Investors face increased barriers with brokerage firms who don’t want to handle shares of OTC companies because of the increased paperwork and lower profit margin on those accounts
    • Price volatility is often higher on OTC
    • Outgrown the OTC
    • In order to qualify for an up-list on the Nasdaq capital market exchange, we will need to pass a qualitative review, and meet 2 primary quantitative measures- achieve a net shareholder equity of $5 million and a $4.00 stock price.  We believe that we will also require a fully underwritten offering simultaneous with an uplist
  • Brief update on the company’s progress on its pre-commercial pilots for its advanced water treatment technology, the Advanced Oxidation System (AOS). BioLargo’s engineering team is building units for these pilots
    • Efficacy of the AOS is proven – its low energy low cost claims are validated at small scale
    • 2 pre-commercial pilots are in process
In closing, Dennis reminded the audience that BioLargo will become known as a great American success story that will always honor its Canadian innovators and encouraged everyone to join us in our important journey to “make life better” as we build BioLargo into a great company.

No comments:

Post a Comment