Q&A Session Q2 Webinar
Prabhu Rao said... Yes. As I said in the industrial space, we are projecting about $26 million with the companies that we already have. I think the number, Sameer, that you're projecting of a run rate between $20 million to $25 million for the other two acquisitions is accurate. So we have four companies in the pipeline right now and we could potentially do all four but we are targeting two that we should be able to close relatively quickly. That will get us to between $30 million and $35 million. And in terms of probably [Technical Difficulty] continue at the same pace and between four and five acquisitions every year. Can you talk about your confidence in closing the two targeted acquisitions and being able to meet the 2020 guidance for the segment? Prabhu Rao said Yes. I will say the confidence is high. Like I said, we have in terms of a target list of companies, is quite significant. But in terms of companies, well in the funnel, the M&A funnel where we are really engaged heavily with them, there are four companies and I see that being able to accomplish two of them before the end of the year is very, very hard and hopefully we can do more than that. I think that's our goal. It should be more than two, but I think two should be adequate to get us to $30 million to $35 million. Kurt Sorschak said... So those two companies Prabhu has referred to, they are in the due diligence process, so relatively far advance. And if the due diligence goes well, it is our expectation that probably closing those acquisitions as we said in the next 60 to 90 days. Prabhu Rao said: I think we're looking forward to consolidating this 20 to 30 companies over the next few years, and optimizing the performance of that, I think it will become a very, very strong player in the industry and I think it's a great, great opportunity for the management team to make something positive out of that. 4 Biostream units in production, to be installed in CA farms starting Q4, 2020 Preparing for launch of new BGX Biostream product to North American and European markets & Marketing campaign starting on October 12th until June 2021 (page 8) Expect to start trading on the exchange in Q4 2020 (page 15) Kurt Sorschak said... board will be reviewing the progress we have made on this manner in September and if they are satisfied, they will approve the up list the fourth quarter.