There's a lot to keep our new CFO, Prasad, busy! A new $5Million contract in Texas? Plus, a Water on Demand™ offering that targets $300M and 600 Machines? National aquifers may be sinking and in trouble…but our "ground up" solutions can help. Find out how and about our plan to democratize clean water for all!
Transcript from recording
Good evening everyone and welcome to the weekly CEO briefing. We have a jam-packed, exciting briefing tonight. Our CFO, Prasad, will join us a bit later to give us an update on what he's been up to and I think you'll find that very, very interesting. So while people are arriving, I'm going to go ahead and do the little intro bit, and welcome to Heather who is our interpreter.
So Water is the New Gold and "Helping you thrive in the world's only vital, scarce, and recession proof market." Now you notice that we don't have dates anymore, and the reason for this is that we're starting to promote to places like Europe, and right now it is 2:00 AM over there. So we're basically going to create recorded webinars that happen later. So this is a way of dealing with it in an undated way. So that's the story there.
(¡Clic aqui para la versión en Español!)
Of course, we have the Spanish language. Just simply click on the globe on your Zoom dialogue, and you'll be able to do that.
And of course we have the usual Safe Harbor Statement, which is that we do our very best to tell you how it is, but it may not work out the way we say.
Okay. First of all, some news. We got pulled into a crypto roundup with some hot shots, and this is E-crypto News. So with a bunch of traders, and lawyers, and chief innovation officers, and all kinds of cool things like that. And basically, they wanted to know, is this the end of crypto? This was during the crash a few weeks ago.
Well, it's not the end of course, because we're transitioning our industry using digital currency. And we've rolled out this 'Water as a service' concept, but it means we need to create a Water Coin for the World™ and I'm going to cover this a little bit later, where we stand with that. And that there's actually a way for the self-governed water world community to take one of these tokens and do what they can to help the world.
And here we go with, this is the key, the difference between today and what I was trying to do back in 2018, which is that we're monetizing water, which is being paid for by the gallon. So every single gallon has money attached to it and that's key, but you've heard the story. So we'll move on.
Also, we got mentioned in Forbes, Argentina, excuse me, Forbes, Argentina. This is a translation of the Spanish article. And our good friend and partner Ivan tells the story about how he built Equity and Help to one of the top fastest growing firms in the United States. And having done that, he decided to move on to social issues. One of them being water.
And here he found OriginClear and philanthroinvestment in water was born, and he is doing an amazing job with his team and helping us go out into his 14 countries outside of the U.S and also do these very large capital deals to help these businesses cut the cord with municipalities and developing pay per gallon programs. So a great article, thank you, Ivan. And he also makes the point that people who can invest should invest. I agree, a hundred percent. Okay.
The Water Crisis
So the water crisis, we've been seeing photos about this water crisis and Lake Oroville, for example, up in northern California three years ago at the top, April of this year. And now just last week. Stunning. I mean, poor people had these boats, I mean, what are they going to do with these boats? But obviously the problem is not so much the boats, it's like they had to shut down the plant because there's not enough water to cool the turbines. So it's a real situation.
We're actually 250 feet down. It's about a 900 foot deep lake, but now they're down to 655 and very close to the record low in 1977. So not great. And this has been going on for a while now.
ARE Day 2014
Now I wanted to discuss our own experience of what can be done because we've known about this for a while. So, I pulled out of the archives an appearance I made at the American Renewable Energy Day in 2014, seven years ago, almost exactly seven years ago. And what I'm going to do is I'm going to play ... Nice to have everyone here. Nice to see you. Hello. I'm going to play a little video,
Start of video presentation
Bill: So we're going to be joined by Riggs Eckelberry of Origin Oil .Inc. And David Trickett of the Jefferson Circle, please come up and join the conversation to expand it.
Chip: Riggs Eckelberry has a company called Origin Oil and they've come up with a very unique technology that basically takes the 5 million gallons per well that we drill. And I'm going to say that we have about a hundred thousand wells in the state of Colorado. I'm probably off a little bit, but pretty close.
And a lot of them have been drilled in the last eight or 10 years. Some of them right over here in Rifle, Colorado, near where we live. And we use about 5 million gallons, I believe, correct me if I'm wrong, per well. And then apparently that water comes back out and it's full of heavy metals and all kinds of stuff, and it gets carted off at about $8 a barrel. Is that right?
Riggs: It varies by region, but it's expensive.
Chip: Okay. So your technology basically takes that water, removes those metals, et cetera. And then they re-use it. Is that right?
Riggs: Right. So there's of course a range of options. Sometimes in Colorado, it's got to be returned to fully potable, or it can be cleaned up to the level that it can be re-used in the next frac job, for example. And so, theoretically, especially if you're getting water coming out of the formation, you can actually make that well independent of outside water supplies. Because as you know, there's often plentiful water that comes out of the aquifers as well. Now I have a presentation I thought I would make-
T. Boone Pickins: When you say out of aquifer...
Riggs: Out of formation. Thank you.
Chris: Well, on that issue of 5 million gallons per well and water constraint, west, where drought is upon us in California, et cetera, it seems like a pretty good idea to try to conserve as much water as we can.
T Boone:: When you were talking about conserving water, Carstener just said, was talking about how much of our energy that we lose. And when you look around, pardon me for interrupting you. But I mean, It's a good idea to conserve everything, all resources. I mean, that should be axiomatic.
Riggs: Well, the reason I bring it up and I think that David can speak to this is there's I think, a lot of friction between the parties around this fracking issue, and people tend to dig in on their various positions and so forth.
And it's our position that if the oil industry can address this proactively, there's going to actually be perhaps a lowering of the temperature and the ability to work together. As you may know, the Hoover Dam has been dropping down. This is just in one year. Now, here's what it looks like. That's in June 16th, 2013. And this is just one year later.
Speaker 2: Are you fracking you out of there?
Riggs: Oh no. This is just to show where the Colorado watershed's going. So thank God, we're not fracking out of Lake Mead. So what we have here is a 13 month drop and of course it's from a low level already. So there's clearly troubles with the Colorado watershed.
And the Ogallala, as you know Boone, is threatened as well because there's the big drought of 2012, and it has not been alleviated. We have parts of the Ogallala that are getting quite low and it is not recharging fast enough. So groundwater is an issue in the west, but also in the Midwest.
Now here's the interesting slide by Seres where they show that so many of our fracking operations are in stressed environments. A stressed environment is one that already has 80% of the water being used for other uses, so it makes for competition.
So, fracking is competing in these various areas with other users and many of these areas, like the gray ones are arid to start with. We also know that overall fracking use is low. As a percentile, here's Colorado and it shows a hydraulic fracturing is 0.08% of total use. Agriculture being the biggest at 85%. Now, the issue...
T. Boone: Does that take in metropolitan?
Riggs: It's Colorado overall. Yes, sir. Here's the issue, and we see this in Texas. Local stress can be very high. We have Carnes for example, 213% proportion of fracturing use to domestic. We have, in Irise County, small population of course, but they're at all almost 3,000%. So, this can create local stresses.
And why is this important? Well, these people who live there and they get concerned. Texas is pro-fracking of course but I think we have to be mindful of the stresses on the population. And here's another one, where populations are growing in the arid regions. All these circled areas are major growth areas for population in the very same areas.
T Boone: Do you know why they are growing?
Riggs: Well, they're growing because it's a great climate, for starters.
T Boone: It's growing because of oil and gas and in those areas are so active and employing so many people.
Chris: Yes. That's a great point.
Riggs: Yes. It's a very good point.
T Boone: Have you been to midland Texas lately? You wouldn't believe it. If you hadn't been there in 10 years...
Riggs: We have an office in Houston and I agree that Texas is doing very well. But for example, California, which has not yet had a fracking, boom is growing. The point is fracking is a boom but so is the weather in Florida, the weather in California. These people are migrating to nice places. Okay.
Now, this is the point. If you have a growing population and stressed aquifers, fracking operators are under what I call a perfect storm. It's a PR situation that they have to recognize. And our experience at Origin Oil has been that operators would just rather it just go away. So, it's not going to. I think we need to be proactive. All right. So, the good news is recycling with a whole new generation of technologies like ours is becoming chemical free and much more efficient.
We can save on truck trips. There's excess water that can be piped to farmers. It's happening in the Imperial valley right now where Chevron is piping water into a... That's not regulated Colorado water.
And finally, there's more and more waterless fracking, which can do about a third of the job. And there's savings available. This is a spreadsheet which you can get from our company, which depending on the scenario you can save a lot of money on your water if you recycle. That's a win-win. Conclusion is of course, is that we can dramatically mitigate the perceived impact of fracking on stressed water supplies with these proactive measures and that's my point.
T Boone: What's the name of your company?
Riggs: Origin Oil.
T Boone: Okay. What's the symbol?
Riggs: O O I L. Thank you.
T Boone: What's your selling point?
Riggs: Oh, we're a microcap and we're a technology company so, we're freely licensing our technology to all comers. We're kind of like Android versus iOS, you don't have to buy the platform. You can have the technology and pay for it on the backend.
End of presentation
Riggs: So, I'm going to change the share here so that you can see the text better. But that was T. Boone Pickens. The late T. Boone Pickens. He passed away a couple of years after that. And of course he was a great proponent of oil, fracking, et cetera. I mean, he was a legend in his own time.
But so, what came of all this and I play this back and I know it was fuzzy. I am sorry, but it is an old clip. But I play this back to say we've been trying to do something about this for a long, long time.and what happened?
Slow Adoption & Licensors
So, a couple years later, we ramped up our technology and supported our licensee in California and in fact, that was that famous video where my brother Nicholas drank the water that we cleaned. And it was so cool.
And it was actually driven. We didn't say so at the time because we wanted to keep it cool with the oil industry but there had been a court injunction to treat the water. Up until then this cooperative, who shall go unnamed, was sprinkling the oil production water on the hillsides. Therefore, that's why all the groundwater in California has got petroleum in it.
And we know we proved the technology worked. We were getting commitments for ramp up. It was fantastic. And then boom, the entire oil industry got its waiver. They didn't have to do any of it. And this is the problem. When you work from the top down to license technology, first of all, you're dealing with very slow adoption. The water industry takes 12 to 15 years to adopt new tech. Then you've got these issues with governments as a licensor.
We had very little control. And so, really top-down is not the way and that was the lesson we learned. So, by 2018, I was working already on ground up solutions. The decentralized way to go. In fact, in 2016, I wrote that article that really started telling the story about decentralization that has become such an important trend now.
So, our answer is ground up. Now, part of that answer is the... And I'm going to quickly play the video again that some of you have may have missed that tells the current focus. And this is the third wave of what we do.
Remember that the first wave is our standard business, which I'll be reporting on shortly. It's doing very well. Second wave. The second ripple outward, shall we say, is Water on Demand, pre-funded water systems, which is also doing great. And I'll give you an update on that. And the third one is Community Building so that everybody in the world can participate. Let's play this and you'll see where I'm going with this.
Start of video presentation
At the end of the day, water is what we care about all of us. We better care about it because without water, three days later, you're dead. A lot of water is dirty, creating illnesses, viruses, long-term chronic illness, you name it.
So, we need to be all of us working in water, not just a select few. And many, many people feel that way. I get constant emails from people saying, what can you do about water? How can you do things for Flint Michigan and all these things. That is the mission of all of us is to do something about water.
Well, we've come up with an idea to involve everybody and to empower everybody. And it uses this cool new thing called cryptocurrency. Why cryptocurrency? Because crypto has no boundaries. If you have a cryptocurrency network, a grandmother in Korea could have an effect on a mobile home park in Alabama. No boundaries, frictionless and it really means that everyone could get involved.
So, what are we talking about here? We are looking at a basic community coin, a water coin that we've called ClearAqua™. People like you and me will notice problems and go, wow, we've got to do something about that trailer park in Alabama. Let's do something about that. ClearAqua is a representative democracy. You don't want the entire planet to be speaking kind of overwhelming the system.
So there's a very good way that certain very successful cryptos have already adopted which is a delicate system. These are called delegates or witnesses and what these people do is just like the US Congress or the British parliament. These people represent the membership. And now these delegates, these what we call witnesses, take these concerns and work with the governing body to create proposals. Now, at the same time, we need the money.
So where does the money come from? There's a second coin we call it Dollar H2O. Now that coin is a purely investment coin. Accredited investors, meaning people who meet a certain threshold of wealth invest in this coin that then gets put into these water projects that get delivered. These water projects make money, and they return dividends to the same investors in the form of a coin that is really pure money.
Is an investment grade token and that's the other side of it. So, we have a two token universe. So, on one hand, the water Kroner for the world. Everybody plays with Clear Aqua and it's a consensus coin and it lets people do something about the state of the water in the world. And then on the other side, the capital for it, which is really unlimited.
And in the middle of it, you have the governing body, which is a trustee to make sure it's all done right now. This governing body is an interesting thing. It is there to be the trustee for all these projects. And it also licenses some of the best technology so that it can in turn, make it available for the use of many water companies.
So it's not just one water company that has got the dominant thing. Remember, we're talking about the entire planet here. There is no way that one company or even 20 is going to change it a trillion dollar water industry in any meaningful way, unless we widely spread the burden to help the resources, the investment.
So, all these things add up to where we are dramatically improving the state of the water by helping businesses cut the cord and doing their own water treatment. I strongly believe in this, many, many people do, and I'd like you to join us too. Thank you.
Focus on Community Token
So that... Whoops, I apologize for that. I just took us out of the suspension of disbelief. You saw the wizard behind the... Ric says, "Great foresight. Bravo. Thank you so very much." All right. And, in fact, Ric is helping us develop the new coin. So what I wanted to do was give you an update as to where things stand with the ClearAqua coin, and then we'll follow up with what's happening commercially with our core business.
Here is the situation right now. We have a bid from a very powerfully, a well-established crypto developer, and they were looking at a whitepaper being done in less, probably next two weeks. At this point, the talking creation, 30 days away, we have a grand total of about 60 days to get the whole thing done. So that's great. That gets the token done.
But you don't just launch a token. You have to do all kinds of influencer marketing, et cetera, and we're focusing on ClearAqua, the community token, primarily because it's kind of drives the whole train. The $H2O coin, which is the packaging of dividends, well, we can distribute dividends through the regular way via ACH. We don't have to do it with a coin right away. So that is a nice-to-have that will be good, but it's not essential. This is what's important, we think.
So that's what's going on with that and is moving very quickly. I'm not bugging the rest of the company on this. I'm running this project personally with, as I said, our good friend Ric Garcia, who's advising on that. Okay.
Core Business is Booming
Meanwhile, in our core business, as you know, where I previously had told you that Modular Water Systems took off, 150% of its entire year last year in just the first half, Progressive Water Treatment also a lot of business so a run rate potentially of more than 5 million annually. Remember these are orders, not revenue, because those are milestones and so forth. Okay. Ivan goes, "$H2O, clear dividends." I like that. Very nice. Very nice. Thank you.
All right. Now here's the big news. We just signed that contract with the major power utility for three projects totaling $5 million. POs are issued, and we are going to review now the statement of work, so you can see what it's about. I'm not going to go too deeply into this, but what we have here is, of course, it's all redacted because until this thing is commissioned, in existence, the power plant operator will not want to be disclosed. Just how it is. Three power plants, and there's all these terms for delays, this, that, and the other thing. I'll move on.
Here we go, pricing. The first one is total of 1.8 million, the second one is total of 4.4 million, and the third one is 2.28 million. I can tell you we did not expect that third one. That was a mind-bender.
Now, as I mentioned a couple weeks ago, we're looking at some interesting terms, 5% with PO. Well, that means that we have to finance things, and the good news is, is that Prasad, our CFO, who's about to speak, has been helping develop our ability to do accounts receivable financing, so we can survive a $5 million project and not die. So that is great news, and the rest of it is more small print. That's the story there, and it's going very, very well, and I'm very proud of the team.
Now I'm going to ask the wild man, Prasad, to jump on board. Hello, my friend. You're muted, my friend.
Prasad: Oh, can you hear me now?
Riggs: Yeah, perfect. Silence is golden, but not on my briefings.
Prasad: Not on the Zoom call, I agree. Good evening, everybody. Good to see you.
Riggs: Good. Now quickly, before we do this, Jerry said, "Can you do well systems in individual homes whose water has these forever chemicals, rural North Carolina?"
The answer is we don't currently scale down to houses. It's a whole different game. It's a mass market thing.
We currently work with industrial. What we have done is, is we've implemented water as a service, or we are implementing water as a service, for those smaller sector, which is $100,000 to $2 million systems, which nobody's doing. We are the first, we're the pioneers.
Going below that to the $10,000, $15,000 system is a very good player called Fuji Water that has an excellent system that I would recommend. For now, for matters of focus, we're just not doing it, and so that's the answer on that.
Review from the CFO
Prasad, I'm going to put your presentation onscreen.
Riggs: You have the podium.
Prasad: Thank you. Thank you. So let's go to the first slide. It's been almost two months, Riggs, it's been busy, exciting. We have a great team. For my focus to everybody on this call has been, obviously, first and foremost, understanding the business and the company, both on the corporate side, as well as PWT.
The second data I've been busy with is, obviously, understanding the equity administration area. That's the area, as we all know, we have a lot of volume, we have a lot of complexity, and that's one of the key significant processes needs attention because of who we are.
Last but not the least, which is, again, very fundamental to our investors and the public confidence, is the financial reporting process. So that means taking a look at the existing processes, how we close the month, what can we do to enhance the efficiency and the effectiveness of our financial reporting to the shareholders.
Automation and Timing
If we can move to the next slide, Riggs? Okay. With the preliminary assessment, what I would... I mean, we generally have an idea, but it's very evident from the walkthrough that I've done that, because of the equity administration and because of the transactions, the volume, it's complex and it's also manual-intensive. So our goal is to basically make this less manual-intensive so we can use automation and rely on the system more than manual.
The second obvious thing from the walkthroughs is that we need far more review and control procedures, which is focused not only on the timeliness of how we get things done, but also verifying the accuracy of the transactions. Because that actually then, ultimately, impacts financial reporting, the timing, and we do not want to have any delays any further. So I would say these two things has been the core focus of my review so far.
Assessing Control Gaps
What's being done? I'm doing detailed walkthroughs with all the core members, and we have a really strong team, Riggs. What we're doing with the walkthroughs is I'm taking all the core transactions or functions or areas, however you want to call it, our processes, right from the stage, initiation stage, taking it to the authorization stage, how is it recorded in the GL, and then how does it end up in the reporting?
That's the typical, the flow of financial transactions, and right now I'm focused mostly on equity because that's, again, our most significant area. These deeper walkthroughs then gives you the ability to assess the existing control design. Do we have strong control designs? Do we have something partially designed well, but we need something more to be able to get a robust control in place? Through that, I'm then able to basically assess what are the control gaps, if you will, and suggest recommendations, which will, again, improve the effectiveness and efficiency of the process.
The focus of this exercise and the walkthroughs is geared towards seeing what are we doing well, what can we do better, but more importantly, what can we do effectively, as well as efficiently? That's where the time savings are going to play a big role.
Making Use of Automation
Next one? Okay. Continued on the topic of what is being done is also the documentation of all the former control procedures. We will have all the procedures established with clearly identifying who's responsible for what, who's preparing, who's reviewing, again, keeping the focus of segregation of duties in mind, which is extremely fundamental to the foundation of an internal control framework for any public company.
Last but not the least, again, I touched on the automation earlier. The review of QuickBase is extremely important. So we are actually in the process of reviewing that, and the testing of the system is planned in the very near future. The object and the goal is, obviously, to take the redundancies of the manual processes away so that we can rely on the system.
Our main focus is going to be making sure how do we know that the data going into the system, how the data generated by the system, is accurate and complete so some testing is going to be done in the next few weeks on that system. That will get us to a place where we can calculate something like dividends automatically, we can cut down a lot of time and make use of the efficiencies of the automation.
Update on SEC Filings
Quick update on the quarterly SEC filing. We filed the Q1 last week, and right after that, we actually moved into Q2. The Q2. The procedures are in progress right now. Good news is that some of the early observations from my walkthroughs and review have already been implemented, and we have seen significant improvement in the turn around time of schedules going to the controller first and from the controller to the external accountant, which basically then generates all journal entries and which eventually forms part of the financial reporting process.
So we are not there yet. We have seen significant improvement, but we'll get there pretty soon. You know, we are not perfect yet, but we are completely we were definitely on the money when it comes to putting all this process in place.
Riggs: Next one.
Implementing Control Procedures
Prasad: And I would like to wrap it up by saying that, just to give you a glimpse of what are my objectives for Q3 and Q4, like by the end of Q3 Q4, I would like to identify all the key processes and controls, and document it thoroughly. So that again, duties, responsibilities, controls are fully understood and identified by the team and the people working on the transactions.
Obviously our goal is Q3 fully, fully, not waiting to the last day, but filed extremely timely with all the control procedures implemented. And by that, what I mean is making sure that the month close check lists are in place, all of the disclosure checklists have been reviewed, signed off and schedules have been reviewed and signed off.
And each of these schedules clearly shows the segregation of duties, which would then give us, which then gives confidence to the auditors in terms of the independence and the objectivity of the financial data. And obviously to you shareholders as well last but not the least.
The overall overarching objective of this whole process is that we want to make sure the control procedures are operating effectively. We are approaching this whole exercise, keeping in mind, the Sarbanes-Oxley (SOX) regulation, which is so that we have huge, advantage and benefit.
So that we think through this now that when the time comes where we are maybe needing SOX compliant, or maybe we had expected to have formal control procedures more than what we expected Now, we are there and are not scrambling to get there later.
So all of this has been done, keeping that in mind, like how would a proper SOX compliant public company report to its shareholders? So that's the overarching objective of all of this exercise. And this is the time to put all of this in place because we are growing, you just saw a huge order.
We need all of these controls in place so that we can sustain the growth as well as all of the other initiatives we have planned. So I think we are on the right track. We have a great team. What we were missing was formal controls and documentation, which has actually been put in place right now. And I'm really excited for Q3 which is going to be done to the team that's my goal.
Riggs: Well, that's a great report and I appreciate all the facts and figures. So basically I love that you have been able to, without upsetting the applecart because things were pretty complicated, very, almost spaghetti you might say, because we were just overwhelmed on our processes.
And I also liked that you've been able to work with Jon Peraza very closely here in Clearwater. So I think that, and here's, what's really important is that we were just looking at a term sheet today for a significant investment by an institution to help us make acquisitions. And they absolutely had to know that we had our procedures in place. I mean, without that nothing was going to happen
Prasad: Without that nothing. Yeah. That's going to be the most, the basic thing people are going to look at is that what kind of controls, what kind of control framework are you operating off of? And it becomes such a core and fundamental part of the business that you can't miss it. And I think we are going in the right direction.
Riggs: Well, my friend, thank you very much. It's been, it's been great. And you're, you're popular by the way, with the friends that we talked to. So this is great.
Riggs: They tell me, we love Prasad, okay, chill out.
Prasad: That was good. Well, thank you so much. And thank you everybody for having me. If anybody has any questions, they can feel free to reach out to me. I'd be happy to answer your questions.
Riggs: Fantastic. Prasad thank you so much and keep up the good work. We'll catch up with you in a couple months and things better be perfect.
Prasad: Sure. I promise. Thank you. Goodbye.
Riggs: Thank you my friend. All right. So here we go. We're going to do something very, very interesting, which is, and this is another thing that really requires that, that we have our act together. I'm going to move on.
These are the usual reports on our fundings, but here's the important news.
We're expanding the series V to $300 million. Remember it was 20 million. Why? Well, our portal marketing firm, which is called Manhattan Street Capital wants to go after small funds in the hundred million dollar range for investments in the $10 million range or whatever.
And it's so we have now incentives in the offering for early investments. So you, dear investor can get involved with this. And it is, as I said, here, it's, it's got not a hundred percent redemption. It's more. Now the warrant leverage remains senior creditor status remains in the 25% of net profits remains.
Now let me show you what that looks like on the spreadsheet now. Very interesting. So here's $300 million and thank you to our friend, Manuel, for doing the work on this. And we no longer have. Now we're building 602 machines by year three and a half. Obviously not all us. This will be an industry consortium. There'll be, we'll do a small fraction of this because you don't, you don't build this kind of capacity overnight, but what's important to see here is the economics.
So the economics are, again, we have 300 million up here and we generate, I mean, theoretically, be more if we could literally invest it all day one, but it's going to take literally three and a half years into the middle of the third year or two and a half years to build it all at the very least. And so 300 million turns into $6 billion in gross revenues.
Subsidiaries and NASDAQ Listing
That's rent. Remember that these are we're keeping these machines in the subsidiaries. So you have a series of subsidiaries called Water on Demand. Number 1, 2, 3, 4, 5, the machines stay in those subsidiaries. It creates a huge asset base for us. And then this is without any of the financial leverage that you could do with $300 million. And believe me, there's leverage you can do.
And then the investors who get all kinds of other benefits, major return on this stock, the warrants, but also half a billion dollars in profit shares. And then origin clear gets $2 billion at the drops to the bottom. That is a very nice package. And we're very pleased with how it looks. I won't spend too much time on this, but we've priced out, how much per gallon, the price, the rental revenues, etc. Size of machines, all that good stuff that's all been done.
And so now we're attracting investors and, and we are actively in discussions with investors right now. So this is, as this begins to happen, it's going to transform a business for revenue, but also for assets, because remember these are wholly owned subsidiaries of our own. The machines do not leave our ownership. They're merely put out there to work for a pay per gallon contract. And so we get an asset base, which is what we have needed for a long, long time to eventually get on the NASDAQ. So that's very exciting stuff.
And Ken has the full picture on this. He knows exactly what's going on, has been available. He's been involved deeply in helping to craft it. The new series V is launching the next few days and just in time we think for some investors to come in. So that's a wonderful thing.
And I'd like to thank everyone for coming tonight. It's been a good little presentation, a bit long, but I think you'll agree that it was worth it. So I'm just going to check somebody's... Ric says well, Thank you. And then Jerry, yes. We'll, we'll get you the name of that company. It's called Fuji water... Japanese, but I will, we will also get you that information.
So everyone, thank you so much for being on board. We will have these things are so exciting. I want you guys to show up and pass the word. We'd love having you on board again, have a great evening enjoy your weekend. And I really appreciate all the support you give you guys and girls are amazing for us.
And so I'm now going to turn off the video, leave it on for a few more moments so that the translation catch up and remember that there's a Spanish version for those of you who care.
And there's a replay after that will have the videos in full fidelity so that you can see if it was very fuzzy. You can see how it was, again thank you to Prasad for appearing on, on the show and let's party on. Have a good night.
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