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A Water Royalty Interest Program?

Nov 19, 2021 5:37:00 PM

The Board was thrilled… Come hear what they say about Water on Demand! Are we creating the world's first "water-well partnerships"? This briefing makes it VERY clear...  And we even took a crypto quiz — how relevant do you think our own developing coins are? Find out in the replay here!


Transcript from recording


Show Host — Riggs:  Welcome to our webinar, the Water is the New Gold CEO briefing. Our mission is to transform the water industry.

OriginClear Chief Engineer: Decentralization offers us this opportunity.

Major Financier: The plan that you've built here is super impressive.

Investor: The world is seeing a crisis in regards to water. It's a great opportunity that you're giving us investors.

Investor: Not too many CEOs do a weekly briefing and are willing to talk to individual investors.

WITNG title


Riggs Eckelberry:

Good evening, everyone, and welcome to the CEO briefing as people arrive. I'm going to quickly run through the usual. Well, requirements with. The usual the usual intro stuff, let me just do that right now. It is Water is the New Gold, and increasingly we know it to be vital, scarce and recession proof. So what's that all about?



Well, first of all, let me just let you know that you can listen in Spanish. Carmen, who's from Madrid living in Mexico, is translating for us tonight. And you can just select the Spanish translation.


Safe harbor

And, of course, the usual safe harbor statement where we try our very best to tell you how it is and we correct ourselves if it doesn't work out that way.


Press Release 18 Nov 21

Quarterly Filing Announcement

All right. So what's the big news? Well, the big news is we filed our quarterly filing and this press release is going out as I speak, actually. And let's take a look at some of the stats. So first of all, the wonderful news is those of you who have suffered through the the year where we're basically we had all these late filings. And that was because we got into so many offerings. We had 18 different preferred series going at one time as we were working very hard to rectify a lot of the situations that our investors were in. Today, we have very happy investors where we have a very complicated. Equity line up. Nonetheless, we brought in Prasad Tare as CFO, and with his help and the continuing hard work of the team we filed pretty much on time within the regulatory extension of one day.


87% Increase

So what is the net? Well, here's what's super cool. We are up 20 percent over the second quarter. Gross profit increased by eighty seven percent, almost double. Cost Of sales grew a little bit. Operating losses narrowed, so we lost less money. Remember that we are choosing to spend money to develop this fantastic new thing called Water on Demand, which you'll hear more about. And if we look at the third quarter, twenty twenty one over the third quarter of last year again improve revenue, improve gross profit, improve cost of sales, now somewhat higher on the operating losses. Again, because this year we're building this Water on Demand program. So we're very happy with that and we're going to go on to discuss some of the other things that are going on here. So let's take a look.


Revenue  chart

Recognized Revenue

Now, this little chart should help you understand a little bit about how things look, so last year, Q1. You see, we started out the year slow, so we were down and we cut ourselves up. So Q1 was down by twenty seven percent. Q2 was only down by 12 percent. Q3 now is up by twenty two percent. Well, what does that mean? There's several scenarios of what could happen in the fourth quarter to create an outcome. Now, remember that we have booked a huge amount of sales right now. My informal count right now is about $12 million worth of sales so far this year.

But you have to turn those into revenue, and that's the challenge. So how much can we turn into revenue before the end of the year? So here's three scenarios. The first scenario is that we stay flat, which I don't think it's going to happen, but we have. If it's the same as Q3, then we end up slightly down for the year. Second scenario is that we are up somewhat, a million — five, which is forty five percent increase over 2020 same quarter and we end up six percent up for the year.

The scenario that I'm going for and that the team is excited about going for is the at least one point seventy five million, perhaps two million, which puts us in 12 percent in plus. So that is kind of the plan here is to go for these increases now. The other thing that you can see here is that the far right column C and D, you've got your increases happening quarter of a quarter of Q2 and Q3. But anyway, so that's the picture. We're very happy with it.

Riggs: And now let's peak in on the board meeting that we had two days ago in the 16th.


Board Call


Start of presentation

Riggs: The Board call is brought to order. Let's get it on.


Audit Review

Casey: We have completed our review. What we're required to do for quarterly review is basically inquiry analytics, be the pink and the orange. Equity and preferred stock represents over 50 percent of the time we spent with all the various series of preferred stock statements appear to be properly stated, and we're not aware of any gap departures. We're not aware of any errors or irregularities we're required to communicate. Management's judgment and accounting estimates continue to be the kind of the same quarter to quarter review adjustments. So this is a big one. There were no review adjustments and no proposed or passed journal entries recorded by the company during Q3. Stephanie, to my recollection, that's the first time this has been the case. Or am I wrong?

Stephanie: I believe so, at least recently, from what I can recall, so that's great news.

Casey: Yeah, we saw a significant improvement in the number of adjustments we were having to make, and there were none in this period. So, so good job the entire accounting department with that Prasad and Gwen. There were no disagreements with management, no consultation with other accountants, no major issues discussed part of our retention and no, no significant difficulties during our review. Internal controls no new deficiencies were noted during this current period. We're not aware of any fraud or illegal acts already mentioned, the fact that we're independent and what that means.

Riggs: I noted that today there were no additional deficiencies noted by M and K. I do think, though, that we have deficiencies in place already currently. Is that correct, Casey?

Casey: Any deficiencies that you guys have had in prior quarters, you would still need to remedy going forward, but we did not note anything new during the current period.

Prasad: Our goal is to basically implement this procedure. I mean, we have implemented some of it since I've come on board. But in Q4, our plan is to actually formally implemented it and show the evidence that it has been put in place.

Casey: Good. Good.

Prasad: Yeah,

Riggs: That's really well done. I mean, it's certainly a relief to be filing on time and literally only one day into the statutory extension. So thank you to the whole team. I appreciate it. I also want to make a note that we'll be focusing in the last months of the quarter and the year on getting recognized revenue in. We had a we've had a huge boom in booked sales. I think we're up to $12 million for the year so far in booked sales, of course, which is meaningless for. Revenue, but it means that the normal $4 million run rate can go much higher if we focus on recognized revenue milestones.

And one thing that we've been able to implement is we have a new program called Water on Demand, which is a way for investors to help fund prepaid water equipment and get dividends from the pay per gallon fees that the users pay. And now we started to receive funds in through a PPM, and they're now in a segregated account. Well, the good thing is, of course, we're not ready to spend that on that equipment yet. So any time that the money is idle, it will be used to factor the cash flow of Progressive Water, subject to, of course, security agreements because the money will be held in segregated subsidiaries. You know, any time you're your orders triple, your cash flow goes kind of weird.

And so they they are grateful for that and we put that in place. And then, of course, we'll be implementing this pay per gallon, you know, service contract type, essentially being a private utility ourselves. And we like to compare it to an oil well partnership where the investors get a piece of the revenues generated from ongoing production. Now, oil partnerships are restricted to energy, so we can't use that structure, but we are able to use something akin to it where for the first time, people, and it's weird that that investors have not been able to invest in water equipment assets, and this is really a first.

So we finally arrived at this thing we've been working on for almost two years now, called Water on Demand, and we believe we will achieve roughly a million dollars in investments in November into these segregated accounts. The purpose of that money is to be used for secured purposes at all times and not for general expenses, so that's what's going on. We're very excited about it because we potentially can get very, very large and even book contracts for other water companies. In other words turn into a pure, pure money for money play. And that is really very, very interesting development.

So more on that in the future but the immediate application of it will be the factoring Prasad and the GM, Manuel and Tom Marchesello, our COO, have put in place. Essentially a promissory note that Progressive Water will sign. Let's say, for example, right now, they want to buy $300000 worth of components, which again, we we will hold a security on that, on that inventory sitting in Texas and then that will enable them to get all these poor supply chain constricted clients reverse osmosis membranes before the end of the year.

So strategic things like that are very, very interesting. And it's going to really transform our business because it's been very, very rangebound by the lack of capital and also the fact that we're demanding customers to come up with capital. And that will no longer be the case. We'll just say, Tony, you were running a brewery. You want to treat your your brewery water. Don't pay any money upfront. Just sign here. And believe me, that water as a managed service is like everything else. You know, it's where things are going.

Anthony: Are we going to have another set of, are we going to have off balance sheet entities? Is there another layer here I'm kind of missing? Who owns these vehicles and where does the accounting reside?

Riggs: These subsidiaries are under our control and they are on our balance sheet. In fact, because these machines remain our property when they go on site, they will be assets for an eventual Nasdaq uplist, which is great.

Anthony: So we have minority interest in these other entities.

Riggs: They have no shareholder interest. They only have a financial stake in the outcome and they have a security right.

Anthony: So it's only only in a worst case scenario. All right. I see Casey working on his beard, so, you're probably going down the road I'm going down. What? What does this mean for us bean counters?

Casey: Yeah, now I'm with you. It almost sounds like a royalty interest in oil and gas property the way it's structured. You don't really own it, but you're receiving a percentage of the proceeds, much like a franchise fee or royalty fee, something like that.

Anthony: It's almost a passthrough entity.

Casey: Yeah, it's going to be some interesting accounting for sure. But correct me if I'm wrong, the company is going to own 100 percent of each one of these subsidiaries. That's your plan is for the company to be the holding company that consolidates all of them.

Riggs: Right. What we're trying to do is just have people be profit participants is all they're getting right. Their profit participants, after all the fees are deducted and they get a, in the private placement they're told what percentage they get, and of course, they get stock and warrants as well. So it's kind of a combination of stock warrants and an equity participation.

And interestingly enough, we're going have a series of Water on Demand subsidiaries. And the reason for that is we have different channel partners that are promoting, you know, so we have one channel partners that international and they're going to bring a bunch of international investors. So we have a W.O.D. Just for them. And but they all are identical. And then. We can also have them unite to invest in a much larger piece of equipment. And that's where it gets interesting because then you have to do pro rata distributions and Prasad is going to have the most wonderful time. It's going to be just the best.

Casey: Basically, you're going to sell a profit sharing type of agreement, if you will, on a company A, B, C and D, these subsidiaries that are owned by OriginClear. And in addition to the profit sharing, they're also going to get stock and warrants and the parent company, the pub co. Is that correct?

Riggs: Correct. They have an equity participation in the parent and a profit participation in the sub with a security agreement in the event of default. Here's the thing there is no financing facility for small to medium decentralized installations, which is the growth trend, right? The growth trend is away from centralized utilities, which aren't getting the funding and toward user self-treatment like breweries and housing developments, et cetera, et cetera.

And so but they don't they don't have financing vehicles, they don't have bonds, they don't have anything really. And then they have to go out and get SBA or various things. This allows them to just basically rent the equipment and just pay by the gallon, which is very attractive. So we think it's going to be a winner. And it compares well to people making money from oil and gas wells. But that's a toxic product. Now they can make money from water wells, quote unquote. And it's a beneficial product, so that's a good thing.

Casey: When you described it, I exactly thought of a royalty interest in oil and gas property.

Riggs: So by law, as you know, Congress made it only possible for energy companies. So it's not a partnership, it's not a K-1. It'd be wonderful because you have a tax benefit, but it's not the case. Investors are not investing in a specific piece of equipment, rather contributing money to a pot and then out of all the aggregate of all those machines in that subsidiary they get a percentage of net profit proceeds.

So anyway, this is becoming really our principal business. You know, we describe our business as four layers. The base layer is Progressive Water in Dallas, which is engineered custom solutions. Second layer is the Modular Water Systems prefab system, which is a much more packaged product. And third layers Water on Demand with the ability to do these capital reduction programs, operating expense, OpEx, type, water treatment.

And the fourth layer is still in development, which is delivering dividends through digital currency. What we call a digital bearer bond type of blockchain delivery, which is in the future. And it's not necessary for the model to work that that fourth layer is very theoretical right now. We're really right now in the third layer, which is Water on Demand, money coming in.

Anthony: When is that going live?

Riggs: Well, we started to receive the money. It's in a holding account and we're setting up the bank accounts. Hopefully this week and then we're starting immediately. We will be doing the factoring with the idle money. Meanwhile, we are busy negotiating with end users. The first contracts, we're literally, our COO is working to negotiate because we have a list of candidates that we've been building for a few months now.

Water is a service is not an unknown activity. It's just done for much, much larger systems like desalination for entire island economies. That was the company AquaVenture Holdings, which was sold for a billion dollars to Culligan. They did exactly that.

What we're doing here is more local business type applications, but it's it's a known, it's called in the water industry, DBOO — design, build, own, operate. So it's a known thing, and we're just trying to scale it down to the new crop of remote water installations.

Anthony: Do we have or do we need a significant subsequent event disclosure on that?

Riggs: It's in the MDNA now. The actual receipt of money, which says so far I think three investors, Prasad, $150,000?

Prasad: 150,000 so far.

Riggs: Is that in subsequent events,

Prasad: Tony, right now, the disclosure on Water on Demand is both in the MDNA, as well as the first paragraph of the going concern actually is the second paragraph of the opening notes.

Riggs: So that that is just giving you an idea of scope. It's going to become, I think, become really our our calling card that we are the private utility, private water utility player. It's going to be a lot of fun. Well, thank you very much. I'm super happy we made it on time. And, you know, obviously we're going to plan the same for the K. We have lots of time to do that. I'm really happy with the systems that are being put in by all concerned and the really hard work. So thanks to Prasad, to Eric, to Gwen and of course, to Casey, Stephanie and the reviewing Partners.

Anthony: Yeah, good work, everybody.

Casey: Yeah, thank you. On the accounting side, I appreciate the efforts.

End of presentation



Riggs: So you just actually listened to a board meeting, watched a board meeting, There's a couple of things I wanted to just explain, a few things that came up. During the slide presentation the auditor has mentioned that there were no review adjustments and that was a big win, first time. So everything went through without any adjustments, which is part of the reason it went so fast. We use the term PPM, which means private placement memorandum, which means a public offering, a private offering for a public company.


Supply Chains and Factoring

And also, I mentioned factoring several times. Factoring is where you advance money against future earnings. And so that's what we're doing with this idle money that is being held for these Water on Demand projects. While it's sitting there idle, it's being put to work and the investors, of course, get their share of the revenues from the factoring. Factoring is typically higher percentages. Quickly, turns around quickly. We have a rate for 30 days, the rate for 60 days and a rate for 90 days onward. And you're basically penalized for holding onto the money you want to get it in and out.

So, for example, we know that there's a big supply chain problems in America right now. So we are using this money to grab consumables, reverse osmosis membranes, these special membranes for very high purity. Buying a stock of them for people who who will have to have them before the end of the year. And so we're we're financing that ahead of time, getting the inventory while we can. So that's that's super cool.


Royalty Programs

And then you saw a debate back and forth between Anthony Fidelio that the top guy, he's the head of our audit committee and on the board, and Casey Kenchin, who is the head of the auditing firm, one of the partners at the bottom. And they're going back and forth about how they're going to treat this.

And, you know, it's interesting, Casey said, "While you were talking about, I thought of it as a an oil interest royalty program." So again, with an oil well, you're getting royalties from something you don't own. You don't own the oil well, but you funded it and you get you get pieces of the profit. It's not exactly like an oil only because by law, what's called a master limited partnership can only be done in the energy space. But we've done a comparable and is I think, we think it's richer.

Ok. So and then finally, we mentioned something called MDNA. That's that means management discussion and analysis at the end is making sure that this was mentioned in the quarterly filing properly. That will have come out now. So and then I said we'd better get the K right now. The K is the annual report that comes out in April. And so we have between now and April. We have plenty of time to get it right and we will. So now we have, we're on a roll. We're getting things on time, and that's a beautiful thing. So thank you for for going through that.


PhilanthroInvestors Report 

Before I go on, I have a report from our friend Ivan Anz, who's been meeting on our behalf, and he likes to jump in and just give us reports right there on the fly. So PhilanthroInvestors® highlighted OriginClear on the CEO Secrets podcast that was booked with our help and OriginClear was also highlighted in the what's called the Board of Advisors mastermind event that was done and new investors are coming in from Latin America. And so thank you very much for a strong week from the PhilantroInvestors network.

Brad, "Have you ever considered used property acquisition?" Ok, I'm not exactly Brad, if you can expand on that a little bit, I'll be able to answer that. Ok, so thank you very much. Let's move on here with some more interesting stuff. But I'm sure you'll agree that was kind of cool. And with that, there's going to pop to the next.


Wastewater Recycling

Here we go now, a concept that has been really nobody likes very much, but it's becoming real. And this is a really good piece of news. And it's something called toilet to tap, toilet to tap. "As cities grow this concept gets another shot, wastewater recycling." And it was called toilet to tap in San Diego, which pretty much killed it. But now this is a big Associated Press story that was repeated all over America. And sure enough. The sterilized water from toilets, sinks and factories and pipe it back into homes and businesses as drinkable water and people basically are agreeing with this more and more.


Too Slow

They're only about two dozen communities in the U.S. using some form of recycled water for drinking. That number is projected to more than double in the next 15 years. There's the problem drop the mic. Ok. Twenty four communities in the U.S., there's what there's about 100,000 communities, and it's going to double to forty eight in 15 years.

This is the problem with centralized water utilities. Things go so slowly. So it's a great idea. It's wonderful, but it's happening very, very slowly. But nonetheless, this is great news. They're starting to get it together in Southern California, in Colorado and elsewhere in the West. And. Great story from The Associated Press. And I think it's wonderful that there's acceptance for that, but we've got to do it on site at the place of use, otherwise we'll just never get there. How many how many decades do we have to get this done? All right. So that's that part.


Crypto Startups

Crypto Adoption and Investments

Crypto — check out this graph heating up much. Look at that, look at the funding, venture capital investments in crypto startups. As per quarter and the most recent quarter, three deals, $6 billion. This is crazy. So let's talk a little bit about that. According to Luke Lango, very good commentator, cryptos are the new tech stocks. So tech stocks, of course, took off, you know, quadruple the Nasdaq one hundred. And now it's the global blockchain takeover. And of course, as you know, we have a blockchain, two blockchain products in development.

And so it's very interesting to see how internet and crypto adoption are almost exactly on the same timeline. They're overlaid on each other beautifully. "It is the most disruptive technological innovation since the internet, and they will reshape the world over the next two decades. The only difference is the global blockchain takeover is going to happen a lot more quickly than the global online takeover."

So, "It took the internet about 30 years to become ubiquitous. (Meaning everywhere). Cryptos DeFi (decentralized finance) and DApps (distributed apps) will do the same in about 10 or 15 years. So by the year 2030, we believe most of the world will hold at least some money in cryptos. Most merchants will accept crypto payments, and most applications will be built on the blockchain. That is the future."

So amazing is happening, and I believe it's the reason why gold hasn't taken off because everybody is putting their money in crypto. Ok. And I'm sticking by that. Here's the company. If you want to go, take a look at them. InvestorPlace, Luke Lango a very good newsletter.


Crupto Quiz


Understanding Crypto

All right, now, let's test how well we understand crypto. So there's a crypto quiz, and I think we should take it right now. All right. Let's see how we do. So this is the official crypto literacy quiz. And it's cryptoliteracy.org. You can see it yourself. So let's just answer some questions here. Currently, I live in that states and we're going to do this. I've heard a lot, I know a lot about it. No false modesty. I know a lot about it. How much do I know about crypto currency bitcoin? A lot.

"How stable is the U.S. dollar?" What do you think? Well, I think it's very unstable. Here we go. "I'm invested in the stock market?" Not much, but I have some and cryptocurrencies, yes, I have cryptocurrencies. And I'm trying to get the thing to click. There we go. "How many different types?" Six to 10. And, "Am I planning to buy or sell any cryptocurrencies in next six months?" Yes.

This is leading up to the quiz. "Purchasing cryptocurrency is?" I think it's somewhat hard myself. It's kind of a pain. "If you had $100 to invest today, where would you invest it?" Well, crypto currencies, and that doesn't mean that I don't want to have gold, but I'm not. Gold is not going to return a lot on that hundred dollars, but crypto, I think, will select all that apply. Now this is the key. All that apply. So how would I use it? Well? Financial dependance save for the future. That's me.


The Quiz

All right now, start the quiz. It won't take long. "What is a cryptocurrency? Money that can be stored paper dollars, digital virtual currency?" I say digital or virtual currency secured by cryptography. That's what I think. "What are digital currencies that link their value to an underlying asset, such as national currencies or precious metals?" Stablecoin, certainly not Dogecoin's DOGE coins are just a waste anyway. "What is not a currency? Ethereum, Litecoin, Dogecoin, MetaMask?" MetaMask is a wallet. It's not a currency.

"What's a public blockchain?" Well, let's see. What do you think? I think it's number one, a digital ledger where data is stored on a network of independent computers. And, "What is cryptocurrency mining?" Well, that is very simple, the process of verifying and adding new transactions to the blockchain. "Now all that apply, Why was bitcoin created?" Well, response to the 2008 global financial crisis, to establish a decentralized cash system, to create digital money and to enable a system of currency free from manipulation by external influences. All of these.

"How much is the maximum supply that will ever be created?" It's you'll be surprised most people don't know. Let's take a look at the survey results. And nine out of 10 survey response didn't know that bitcoin's supply was limited to 21 million, and 90 percent also didn't understand stablecoins. So let's say 21 million and "How many decimal points is a bitcoin divisible?" Eight decimal points. And, "What is the smallest unit of bitcoin called?" Satoshi, from the name of the inventor Satoshi Nakamura, "Who processes bitcoin transactions and charges network fees?" Well, that is definitely miners. There we go, "What metric is used to measure Bitcoin Network's computing power?" Hash rate. And, "What determines the price of bitcoin?" Do you think its social media influence, federal interest rates? Neh, it's supply and demand.

Now, "Currencies that are held in custodial and non-custodial," meaning a custodian is somebody who watches over your money like Coinbase, for example, "a non-custodial wallet is one where you take full ownership of responsibility." There's no one to call to recover your password. That's the truth. Either way, by the way, you are the bank. All three of these. Now, "Which describes DeFi? Is not controlled by a single entity. You don't have middlemen like banks. It's a new system of finance with smart contracts on blockchain."

"If you had a hundred dollars in a decentralized finance high yield savings account, any interest rate was six percent per year, and by the way it's a lot more, after five years, would you have more money?" I think so. You have more money. Now, "If you were earning six percent and the inflation rate was five percent after one year, would you have more money?" You'd have more money because you're one percent ahead..


Non Fungible Tokens

We've been talking about non-fungible tokens, right? Fungible means exchangeable, so. I'll tell you right now, non-fungible token is a token that represents digital ownership of unique items that cannot be mutually exchanged for one another. And that's what we've been studying doing with our dividend coin. So let's go ahead and select that. And we're all done, so let's take a look.



I did it earlier, so I wouldn't have to wait. And let's see what came in here. Uh huh.. And these guys are slow or else because it was more than once. At the time, I only scored ninety four percent. And the reason was that. I only selected one answer on that custodial thing. It's all three, so I would have had 100 percent, so what we just did now was a hundred percent. And aren't we smart? There we go. All right, so that was fun. And feel free to go to cryptoliteracy.org. It's cryptoliteracy.org/quiz.



So Water on Demand, as we've been saying and the board was enthralled, they were very excited about it. Believe me, they were amazed and excited that money was flowing into this program. And what made the breakthrough happen was something we call the $5 million club.


Secret Sauce

That is where you by investing a lot less than five million, basically anything you want if you're accredited. You get the special secret sauce that you get with $5 million.



So sure enough, it's a secured water equipment services program, not just for high net worth investors. I'm not going to bore you with all the things. Get it from Ken. But here's the thing. There is a hidden feature in the offering that you can get in at that sweet spot and you need to talk to Ken about it, so he has the full data.


Call Ken

Call Ken

He is available to talk to you in greater detail and to schedule a call. oc.gold/Ken. And he will be happy to talk to you.


Thank You

Riggs: All right. Well, this was kind of short and sweet. I want to wish you a happy Thanksgiving. There will not be a briefing next Thursday. Hopefully, you'll be having Turkey. And so the next briefing is on 2nd December. And there's big news coming. We have that premium hotel that's been launched with our equipment, water purification equipment. And it's done. We're just we just have to get the go ahead and the reporting done. So I look forward to having you guys on board for that.


Questions and Comments

Let me just see what we got in the chats. Brad says, "Have you ever used property assessed clean energy funding for addressing a power source side of some of these projects?" Brad, this is very interesting. There's a company called Cambrian Innovations that combines water treatment with energy generation from... They take the waste and they turn it into energy. It's a private company and I think it's a great idea. But, I think that we need to get the water treatment part done and we can get to the rest and there is funding available.

What a big, big topic that you're going to be hearing about. Perhaps in the next briefing is something called ESG, environmental, social and governance. ESG is huge. It's a vast space and trillions of dollars worth of value. And the, you know, we have just the super opportunity here to be a big ESG player. So with that, I'm going to take...There's more messages here.

"The US has the highest per capita water use in the world. Groundwater is being depleted 25 percent faster than it's replenished, 40 U.S. states will face water scarcity over the next decade." You are absolutely right. Rob Powelson. That is so true. It's it's really a disaster and nobody is really paying attention to it.

"Crypto site, again, repeat the crypto site." That is from Leonard Vasquez. Yes, this is cryptoliteracy.org. And I picked this up on Block Works the survey. But if you just go to cryptoliteracy.org/quiz, you will find it. So take the quiz, have some fun with it. All right.

And Ryan says, "Sounds awesome. You have my full support. What can I communicate to others?" Well, here's what you can communicate, Ryan, is that for the first time, what people have made billions and billions and billions of dollars from oil partnerships they now can get from a water partnership. They can get a "water well", get it.

And instead of, I mean, I have nothing against oil and gas, but it's not a healthy product. It may be necessary, but try and drink it. Water is vital to life, and so it's weird that nobody has done this thing for oil, well for for water, quote unquote wells for water treatment.

And that's where we're so excited about doing this program, where people can come in and invest in functioning water assets that throw off cash that they get a piece of and they get a beautiful stock and warrant package. It's a beautiful thing. So, Ryan, that's the message.


Like Oil and Gas

And basically it's water just like oil and gas. That's what this is about. We're very excited about it and we're going to be moving fast. Money is flowing into the program. We're doing this, lending to the Progressive Water people on a secure basis. Remember, it's all arms length transactions. These divisions are carefully segregated and you can't spend them on salary and so forth. It has to go through the system. So that's very, very good for us and we think we're going to finish out the year very strong as a result.

Ok. And I got somebody else speaking up. Ryan says' "Great, will do. You're making a positive difference." Well, Ryan, thank you very much. And Ellen says, "Happy Thanksgiving to you, Riggs. Thank you for making so many dreams of safe water for our planet become reality." Wow, what a wonderful message. Thank you so much, Ellen. That is a beautiful thing.

Well, we've gone long enough. I appreciate your time. It's always great. Week after next, we're going to get into the ESG thing, and I hope we can cover that high-end hotel that is in a certain, very well known city. No more. Can't say more than that. All right. Have a great weekend, everyone, and happy Thanksgiving to all of you. Be well. Be warm. Be safe.

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