Dan and Robb broke it down for us. How do they customize without having to, and have unlimited scalability? And coupled with our expanded $H2O coin and outsourced water strategy...? Come see how we plan to bring water into the digital age!
And good evening, everyone. It is the 1st of July, 2021. And many, many exciting things happening as... Every single week, it's more and more exciting. So, I'm not going to delay much, but what I will do is while people are joining us... Wow, we got a crowd. This is fantastic. Let me just do the honors here. Talk about a little bit.
So, Water is the New Gold™. And this is really a new asset class that's becoming more and more serious. This is, of course, briefing number 117.
And I want to remind everyone (In Spanish-"It's possible to listen in Spanish") . So, all you got to do is click on the globe at the bottom of your dialogue, Zoom dialogue, and you'll be able to listen to Spanish right now. So, that's really cool.
And as usual, we have our safe harbor statement, which says that we are always very careful to tell you exactly how we think it's going to be. Well, I guarantee you that we will tell you always as accurately as we can. Okay.
So, tonight, there's a crypto event in Palmas, Puerto Rico, which is a gated community. And you can see in the far left. First Palmas crypto event in Puerto Rico and three speakers. And Ivan Anz, who's our partner with Philanthroinvestors®, he's the guy in white there. And we sent Ken Berenger down from Pittsburgh to be there. And I have a little testimonial here from him that... Here he is.
Ken Berenger: Riggs, you know I don't have a sweet tooth. I'm not a dessert guy, but Bella makes a hell of a dessert. And you should try this. You should come down to San Juan just for this, right? Just do a round trip, have some and go.
Riggs: This is wacky. Bunch of wackos. So, now I'm going to switch over to the video mode. Bruce Ferguson is asking, is the video off? Did you guys... Good now. Okay. And I hope that that video of Ken came through, otherwise, I can replay it, but in any case, it's not a big deal. It's more bragging about Bella's cake, or pie, which is apparently amazing. All right. So, let me flip over into video mode. There's going to be some very good stuff. I'm not going to have that again. All right, here we go. This was shot last Sunday. It's a small excerpt.
Riggs: Our mission is to bring water into the digital world, and we've been working on this for a long time. 2018 was an amazing year because it's really when cryptocurrency started to break out and we saw that there could be a potential business application of what had been really kind of a marginal nerdy, geeky, crypto kitties kind of world.
And it was becoming real and all my friends from the dot-com era are now in crypto. And so, I saw a chance to essentially encode water into a currency that could then be used. That was the vision. And I remember, literally, December, 2017, being at the StartEngine conference and being so excited about what was happening.
So, we launched this process and a coin development firm helped us put the first concepts together. I started going to different conferences. There was a decentralized conference in Silicon Valley, d10e, that was very important. And I was able to express this concept of decentralized funding of water. And it was at a decentralized conference, which is kind of cool.
It culminated in this week called Restart Week at Puerto Rico with literally three different conferences happening in one week. It was hectic. It was crazy. It was so much fun. And I got to speak at CoinAgenda, which is very good. We're making a lot of alliances and you could feel the buzz. It was exciting as could be.
What was happening though in the background was that one of crypto's pullbacks was happening. And what we now know as Crypto Winter of 2018, and eventually wen said, "You know what? The market's against us. We're just going to have to chill." And we had fundamental issues with how to monetize the water for the cryptocurrency, which is really the key issue. After 2018, we really had to kind of just put the whole crypto concept on the shelf and focus on the basics of our own technology rollout.
And this is when we really focused on what's called Modular Water Systems™, which is these Water Systems in a Box™. They are patented and we've licensed them for a long time. And in fact, in retrospect now, it's taken off. In June, we had... The last week of June just went nuts with about $800,000 worth of business. So, finally, it's rolling. And in retrospect, three years wasn't so long, but it was not easy time because we had to fund it all throughout.
Now, we arrive at 2020. Right around my birthday in February of 2020, we realized that everything was changing economically with the world and that we had to move quickly to deal with something that basically said, "Look, you're going to have to make it all come together or else we may not survive." Right. 2020 was the year where you either sank or you made it. And we worked very, very hard with Tom Marchesello with the tech side, with Ken Berenger on the financial side.
And we finally spotted the real reason why the water industry doesn't go anywhere really. Doesn't grow fast. And it has to do with the money supply. If you feed money in the front end, then things happen on the back end, right? You go from being a salesman to being a white knight because, "Hey, here. Don't worry about the funding. It's taken care of. Just sign here." And that became in the end, what we called Water On Demand™.
Now, it's not very well to talk about Water On Demand and talk about outsourcing, but if you're going to give somebody a machine without having to pay for it, you better have finance. And so, that grew into the effort that's ongoing right now with a tremendous help from Ivan Anz and Arte Maren of Philanthroinvestors and their international network.
And we started realizing that we could do more than just pay our monthly bills. We could actually raise millions of dollars from accredited investors. People who are business people, normal people that had done pretty well and 100,000 at a time, maybe $1 million at a time, build these funds that would fund all of this. And then that brought us to this opportunity to bring back the crypto.
We feel that it's imperative that we create a Water Coin for the world. This is the vision that's jumped out. And it's been enabled by the fact that it's really, really easy now to develop and launch a coin. What we're generally seeing is the rapid launch of coins that have the potential for benefiting a community. And so, a community would in a way vote on how we're going to use the funds that are developed through this process for good, right?
So, here, this... We have this trademarked $H2O brand, and let's imagine that this is a coin community and this community would be very interested in, what can we do to help water? Brown water in Compton. Lead-filled water in Flint. Toxic water in South Bend. Bad water in wells in Africa. All of that.
How can we effect that? And that would be the general benefit and it would not be for OriginClear specifically. It would be really... The world would sort of take it over. Exciting times and... I tell you, it's really become our mission to bring water into the digital world through this strategy.
That's our vision. It's really exciting. It's becoming more and more what we're about because we see this as having tremendous leverage to transform the water industry from a financial vehicle, one that is a 21st century financial vehicle i.e. digital currency. We're very excited. We'd love to have you join us. Check us out at originclear.com.
So, that was shot, as I say, Sunday, as things are developing rapidly, and it's going beyond that. I'm going to... Don't want to keep repeating. Thank you very much. And now I'm going to share excerpts from yesterday's Trusted Investor Conference. Now, what are these things? A Trusted Investor Conference is any investor who's invested more than once in our private placement at any time is part of that group. So, it's a great group to give us feedback because these are people who've really put their money where their mouth is, and they are truly important to us. So, because this is mostly text, I'm going to take it off video mode and let's play it. All right. This is the Trusted Investor Conference and it's the second installment of it. And, hopefully, it will become an institution as things get more and more exciting.
Why am I talking so much about a Water Coin? There's a number of reasons. The first one is that, I can tell you how often I get regular people going, "How can I help with the state of water in the world?" We go, "Well, you can invest $100,000." Like, "Yeah. Okay." That doesn't help people. And yeah, we have these Regulation A offerings, and that's fine too, but I'm talking about something much, much, much broader. Literally where ultimately millions of people could get involved. And that is a whole different scale than what we've had up until now.
And the reason why it would scale so big would be, it does not directly fund OriginClear's operations, it funds good things. So, here's the problem. It's complex. Really complex. And it's also a security, which means that we have to do it with accredited investors.
Whenever I talk about trying to do an unaccredited investor offering with a coin, people tell me, "No. The SEC will just know. They won't let it happen. It's still too early." So, we need a Water Coin for the "world" that is not a security, where we're a sponsor, and we're being beneficial.
We're not even the ones coming up with these ideas. It comes from the community. They're not our ordinary industrial business, but they're doing great things, for example, for Puerto Rico, for Flint, for Long Beach, Long Island, for Fort Lauderdale, for Compton, all these places that are in need that it's not really a commercial project. And until now, we haven't been able to say, "Hey, we're going to help." Right?
So, what our strategy is to go ahead and launch this Water Coin for the world, empower people to take water quality in their own hands, build these Water On Demand payment streams, which would be in crypto, but we have time to do it. So, let me take a look with you at the roadmap as to how we're looking at it and what kind of timelines we're talking about.
So, here is a high-level roadmap and as you can see, phase two and phase one happened within two weeks. Now, when talking about real work, look at the NFT, the non-fungible token. Fungible means switchable, non-switchable token meaning that the unique token that carries these payments, it's two years out. Which is too long, I think, but it means that we can take time with it.
We can do ordinary Water on Demand without worrying about a coin and meanwhile we've got a great popular coin out there that does, you can see here,
"The governance mechanism enables the community to vote on proposals, brought forth by the board in light of the allocations of tokens." Okay, what does that mean? It means that this is really for the people and that is the dream I think of decentralized currency. So that's where that is going and it's very attractive and I think we'll be doing a lot of good with that. So conclusion is that cryptocurrency is moving into main street business and now water, both with these broad initiatives and with the more specialized ones.
In summary, we are monetizing water treatment by offering these managed pay-per-gallon contracts and I'll be reporting further on that. That's Water on Demand Number One is the first subsidiary, we're building others. We have our Modular Water Systems tech which now has broken through on revenue and they literally just took off, crazy in the last few days. And then finally scaling it up to a global level using cryptocurrency, but starting with a simple coin followed much later by packaging payment streams as these unique marketplace securities.
Ken: The idea is Water on Demand was an idea to create a solution to the water problem, crypto won't complicate it. Crypto is complicated, but it's not going to complicate Water on Demand. Eventually it's designed to simplify it.
It's simply going to be a second, in other words, Water on Demand, I'm not smart enough to have thought of this with Riggs with crypto in mind, right? We said, "Okay, everything's shutting down. What did we do?" This was designed with dollars, okay? And it's going to function the same way any sort of automatic transactional payment happens for your Amazon account, your cell phone.
We don't pay our cell phone bills, they just take it out of our checking account ACH. So this will be designed to run with the same automatic payment structure using the dollar. But if you believe the dollar might face some challenges and you believe that perhaps taking a very complicated and a lot, see the idea is this, with the first hundred units you could manage this just fine. But the idea is you want a million units. Well then it's going to get really complex, really quick.
Cryptocurrency is designed to dummy-proof payment systems, right? To eliminate human error. So by the time the NFT is developed to simplify these payments streams for all the investors which is a year and a half out, I think, it is a little bit more than a year and a half out. What we hope to have several of these Water on Demand funds if you will, already in place with a couple of hundred of these things, truly believe it will be a preferred method because it will be so much more simplified.
Riggs: Water on Demand Number One is the subsidiary we were building and in fact, we're about to launch Water on Demand Number Two and Number Three for different channels. There are lots of investors in the crypto world who are extremely liquid. And so Ken is pursuing a whole channel of cryptocurrency investors as is Philanthroinvestors in fact, that they would be interested if there was a crypto angle and these people have done extremely well.
Ivan: This is so much a language the Philanthroinvestors vision because now we really have the tool to go limitless worldwide. And with the movement that has taken the world by the storm, not because of anything. One man just bought more than a billion dollars in cryptocurrency!
Two governments in Latin America made cryptocurrency legal and that's one currency that can be exchanged. One is El Salvador another is Paraguay and that's a lot to make cryptocurrency legal to be used as any, as a normal government currency. Yes, so this is, I support your vision and I think it would be great.
Riggs: With that, I'm going to wrap it up. Thank you very much all for having been with us, we spent a very good hour and don't hesitate to email Ken or myself and we think you guys are the best. We couldn't be happier with the team. Keith Roeten says the potential is astronomical and I agree a hundred percent with that. So thank you all, have a great rest of your summer and don't be strangers, were around to talk to. So long folks.
Well, obviously that was a small part of the Trusted Investor Conference. We went through a lot of details about what's happening with the company and so forth and nothing that was what you might call material, non-public information. We don't do that, so anything we discussed is known, but we were able to answer questions and so forth.
And I have a comment from Rob Powelson, "The water industry is hugely fragmented. We have 51,000 drinking water systems in the US, over a 14,000 wastewater systems, so currency solution aside for a moment, how can you compete with investor owned water utilities and the contract operators like Suez, Veolia, Jacob's Engineering?"
Now that is an extremely good question and our star guests will join us shortly to discuss some of that. But here's the simple point, we are finding that the big water companies are having a problem dealing with the new breed of customer, which is a private business trying to treat water.
This is a new phenomenon, it's called decentralized water and because of the breakdown of these tens of, hundreds of thousands of water, centralized water infrastructure points, there's a lot of migration to the edge where a brewery has to do with some water treatment, an animal farm, et cetera, and these are too small for the big companies.
Especially when you start talking about DBOO, the Design-Build-Own-Operate. Those are typically only done for very large systems. We'll cover that very shortly, Rob that is really, really good question.
What I'm going to do now is I'm going to play a quick excerpt from a webinar that was given today, rather yesterday, I'm sorry, yesterday by Dan to some engineers and it'll give you a flavor of what he presents to the industry and why these things are so popular.
And then we'll get a chance to actually talk to Dan and his project manager, Robb Litos. One second here, let me tee this one up and I'm going to optimize for video clip. Here we go.
Dan: Again, my name's Dan Early, I'm the Chief Engineer with Progressive Water Treatment and we are innovation leaders of water infrastructure.
Reason number one is that my counterparts in McKinney, Texas with Progressive Water Treatment. Second reason that we are unique is our focus on heavy plastic manufacturing and leveraging heavy plastic materials and heavy plastic manufacturing for infrastructure solutions and product development, so we put those two together. Those two things do make us very, very unique to the water industry here in North America.
As far as Modular Water Systems, I head that program up on a daily basis. The Modular Water Systems program is a continuation of a vision that started about 10 or 12 years ago with me and this is a focus on the infrastructure solutions and infrastructure packages for wastewater applications.
15 to 20 years ago, we were working with a lot of utility customers and clients and end users that were building new water systems, we're replacing old water collection or water distribution systems or wastewater collection and conveying systems and treatment plants. And I started seeing a lot of problems with durability and sustainability.
Concrete, epoxy coated steel, and those types of things were being used as the materials of choice. I had new installations that were two and three years old. This was looking back in 2005, 2006. These installations would be two or three years old at that time and I was already seeing the detrimental effects related to corrosion, especially on wastewater lift stations and packaged epoxy coated steel package wastewater treatment plants.
I had a number of customers that were asking me and challenging me to try to develop new ways of delivering durable and sustainable equipment technologies. So in 2008, I actually embarked upon a custom engineered project where we were going to custom design a very large all plastic, structural plastic wastewater lift station for a customer. Customer wanted it, customer loved it.
The design process was pretty straight forward, but the fact of the matter was that the industry at that point in time was just not quite there, the manufacturing industry wasn't quite up to speed.
To me, that represented an opportunity so in 2010, with a former business partner, we formed a product development company and that company's sole purpose was to start developing infrastructure solutions based around heavy plastic manufacturing that would then start integrating some of these manufacturing technologies.
Wastewater if you're in an urbanized environment, wastewater collection convenience and treatment is, you got to have it. It is fundamental, it is mission critical, it is absolutely required to protect the environment and the protection of your health and safety.
What we know from experience over the last century is that concrete, brick and masonry and steel and those materials don't lend themselves very well to sustainable utility infrastructure systems.
All of these issues that you see about sustainability, expensive maintenance, environmental problems due to leaking sewer systems and failing infrastructure, all of those things contribute to the ongoing struggle of maintaining a utility system.
Materials, concrete and steel are so susceptible to corrosion. It is not uncommon to see pump stations and steel package plants to have a maximum sustained life cycle of 20 or 25 years and then they need a full replacement.
So what do we, what solution are we promoting and why do we do that? Well, we think that the EveraMOD™ lift station is a very effective solution to these issues related to corrosion and durability and sustainability.
Our use of polypropylenes and polyethylene materials, where we're taking extrusion and wiring technologies from certain sectors and taking structural panel materials from other sectors and bring them together into a unique manufacturing environment. Those things now are allowing us to build and to promote the EveraMOD lift station.
And it allows us also to become what we refer to as a total equipment solution, because our foundational element begins with the heavy plastics in a heavy plastic manufacturing model.
Because we do that. And because we engineer around that and we develop the solution, the pump station and the treatment plan around the heavy plastic structure, when we start integrating the OEM supply chain, the pumps and blowers and controls and all the other ancillary equipment and products that go into a pump station or a treatment plant that is really what makes our model work, our business model work and our infrastructure solutions next generation technologies. And that really makes those things very, very effective.
Riggs: So that's just a short, obviously you can tell it's kind of geeky, but you got a flavor of what Modular Water Systems does. And at this time I'm going to bring Dan Early and Robb Litos on the show. There we are. How are you gentlemen?
Dan: Good, how are you ?
Robb: Good evening Riggs.
Riggs: Good. I just realized that my microphone is over by the speaker playing pickup. So let me just fix that. There we go. So first of all, I was blown away, Tom and I were blown away by the sudden, the dam broke a couple of weeks ago, things started happening and we couldn't be more delighted. That webinar really gives a flavor of why we're special here.
Now, the question that Rob Powelson had earlier. So the real question is, what do you say to competition from Suez Veolia, Jacob's Engineering, Evoqua and so forth? Are you complimentary? Are you replacing them? What's the competitive landscape?
Dan: My first response is that they are too big. Those companies are mega water companies, and they work with mega urban utilities, and those are heavily regionalized, heavily centralized. And we work in a completely different segment and a completely different market. So it's different, just different worlds all together.
In the decentralized world, but the smaller utilities and the point of use need that we work with on a daily basis, whether it's water or wastewater, that is where the future is. I am very familiar with the 51,000 drinking water systems and 14,000 wastewater systems. A lot of those are very, very, very, very small systems and Suez Veolia and Jacobs and companies of that like they typically do not even dabble in that market.
Occasionally maybe they do, but we're positioned to serve these smaller utilities, these smaller de-centralized point of use needs. So that would be the answer that I would provide for that question.
Riggs: Yeah. I think that we're in a great position. And also I'm hearing that because many, many of these water companies are getting, the personnel are getting old, they're saying, "Hey, we're running out of people, people are retiring and we need help" from perhaps a more agile player. And that's, I think a lot of business we're seeing too, right?
Dan: We are, yeah. We can turn on a dime. We are much, much more nimble and much more, we're just much more flexible and much more responsive to the needs of these smaller customers.
The other comment too, is that these decentralized utility or these other utilities, these public utilities, they are old, and they are committed to the utility system that they have and they have to maintain it. And that is an albatross that they have to bear. I mean, it is a massive burden that these utility owners are faced with, and the prospects are not good. They are not.
Riggs: Right. We saw that the big Biden infrastructure bill, the water budget got cut from $111 billion to $55 billion. And that's sort of a $2 trillion package, well now $1 trillion, I guess. But the point is that nobody is spending enough on water infrastructure, which is leading to the need for these self-contained water systems at the edge.
And so my question to you guys, before we discuss some of the deals you've been doing is how do you two operate together, and then how do you work with your people at Progressive Water?
Dan: Okay, well Robb and I form a team, and we work, I mean, we work hand in hand, day in, day out. We are in this day and age, where we're video conferencing, even though we don't share a common office, we work together in zoom and video chat and we tag team and go after our projects and we use a collaborative working environment.
I'm usually at the tip of the spear. I'm usually out working, meeting with engineers, meeting with end-users, customers that have a need. I quickly evaluate and understand what their challenges are, what their solution may be. And then I'll bring it back to the office, work with Robb and he and I will then work through solution development.
Robb is absolutely mission critical to what I do. I cannot function without Robb being a part of this program. He is a very strong compliment to me and he makes my job much, much easier.
So he handles the, Robb, and I'll let him, he can chime in and fill in some gaps here but I'll handle big picture solution development, and I'll make recommendations on what I think would be the best solution for a prospective customer, Robb will then come in and he fills in the gaps. He makes sure, he will scope it out, get all the pricing together, and we'll make sure that we have a solution that is truly in tune with what the customer is looking for.
And the proof of that is this past week, or the past two weeks in particular, last week, we found out that we had landed over $800,000 worth of new orders. But the wonderful thing about it is, just this week, Robb and I are working on new prospects where we continue to build our pipeline and the Modular Water Systems pipeline, of future prospective sale. It grew probably by another half a million to three quarters of a million dollars just this week.
Riggs: Wow.
Dan: And it's just a function of the way we do things.
Riggs: Now, my grandmother used to say, when people would talk about her in her presence, she'd say, you know, I'm not the cat, right? So Robb, you're not the cat. So we'd love to hear from you a little bit. And you must also be the connection between the brilliant Dan Early and the boots on the ground in McKinney, Texas.
Robb: I am. I'm kind of go-between. Like Dan said he's the tip of the spear. And as he's bringing these projects in I kind of manage them, price them out. And then when an opportunity actually goes to contract, then I start working with what you said, our boots on the ground in McKinney to make sure that the project gets run. Like we like to say, we like to flawlessly execute the projects.
Riggs: Well now, Robb, also, you're not just using the 20 odd people in McKinney, but also you're working with outsourced plastic fabricators. Am I right?
Robb: We do. We do. We have some subcontract work that gets done, that I will manage normally.
Riggs: Now let's say that Progressive Water became, so far they've kept up with the demand, but let's say they got overwhelmed. Would you be able to take your designs and just work with other water companies that are competent enough to deal with it?
Robb: Sure we could. See, you know, in our business, the opportunity life cycle you know, can sometimes be a long time, sometimes years, so volume is important. So I think it's a testament about staying really committed to the business plan and driving the standardization while we're constantly improving our software and algorithms to get more opportunities through the door. But by standardizing, we've kind of made it so anyone can do it.
Dan: I'd like to add something to what Robb just said right there. Just a case in point today, we got a project or a new prospect that came into the pipeline about two weeks ago. And because of where we have standardized our EveraSKID™ product line, we have had a consultant that informed me that they're going to make the referral for a $250,000 package just this afternoon. It didn't exist three weeks ago. And it was because we're so standardized, it's like promoting and selling a car.
Riggs: Well you standardize and also you are the adopted design. You're specified in the design because you have a proprietary package. And Robb you've worked obviously in other water companies, how is it different doing the Modular Water game?
Robb: I think the biggest difference is just the Modular Water concept. I like calling them modules. So when we are looking at an opportunity for say a wastewater treatment system, we can plug in the modules wherever we need to very quickly in order to give a customized solution that we don't have to customize because we've already done the work upfront.
Dan: Yep. Yeah. Bingo.
Riggs: That is a beautiful thing. And while we're on the topic, Rob Powelson asks, so in the case of the Texas power outages, how are you engineering the power systems behind the unit to stay online? That's a small question, but worth answering.
Robb: Yeah, no, go take it Dan.
Dan: I guess Robb, what he's asking about here is he's talking, I guess, like emergency power, backup power to the utility systems we were working with that we routinely supply a specified supply, emergency power generators to backup our water plants and our wastewater treatment plants.
We sell them with our wastewater lift station. So when you run into a situation like that, where you have a point of use utility system, a water or wastewater system, emergency power has to be a prime consideration. And we supply that as an ancillary product.
Riggs: That's a beautiful thing. Well, I wanted to quickly discuss now, the update, what we're looking at right here is a great PO, you know, 560,000, roughly which is great, but is a design and build. In other words, you design it, you build it, you commission it and it's gone. It's done. Now, we're moving into design, build and operate. And ultimately we'll move into design, build, own and operate as we build up the capital from Water on Demand.
So I guess what we'll do is we'll get into reviewing a little bit what's going on with the DBO opportunities. And so take it away, Dan, you've got six opportunities right here to talk about.
Dan: Yep. Be glad to Riggs. So, the first one, a mobile home park customer in Pennsylvania, as we mentioned last week, we are now in the final permitting and approval stage with that customer. So everything is moving through. Once the Pennsylvania DEP issues their approval, the customer moves forward with the project.
We anticipate that's probably going to take another, probably take another 45 days before we'll see that final approval. It is anticipated. We were hoping we'd have the meeting this week, but because of the, I guess we're pressing, running into the 4th of July weekend. We weren't able to set up a meeting with the consultant and the end-user, but we expect to possibly next week, we'll have that meeting. And we look to have a contract in hand moving forward to that customer in the next, probably the next several weeks.
As far as the craft brewing customer, we did finally hear back from our design build partner in Maryland. No status change on that one. They are still moving forward. They're collecting data. They're still collecting wastewater data to get a sense of the historical usage. The project's still viable. Still moving forward. We'll know more about that probably in the next month or so.
RV park customers, same story there. They're working on their vesting and entitlements through the rezoning processes and they get rezoned, then everything accelerates and ramps up on our end, relative to engineering and delivery of the equipment.
I'm very excited about our agri customer. This one continues to move up the board as far as confidence goes, as far as probability goes. We did meet earlier this week. We had a scheduled meeting Monday. It lasted an hour and a half. It was very, very positive.
The momentum, we're starting to see momentum with this customer. They've seen our budgetary pricing. They did not have a problem with that because it fell right smack in the middle their funding that they had set aside. They are asking the right questions about schedules, the lead times, operating costs, permitting, assistance, engineering systems.
And these are questions that lend themselves to the DB, or the design, build, operate model that we're pursuing. I feel very comfortable with this one I'm getting closer and closer. And we could add this one to the contract list maybe in the next 45 days.
As far as the consultant, moving on the consultant in the decentralized water and wastewater world, we've added a couple more new consultants just this past week, through our educational webinar program, the excerpt that you played earlier in the CEO briefing this evening.
It's those presentations that we lead, where we open doors and we get to meet with specifying engineers and consulting firms. It's there is where we are really broadening our network and we are connecting with engineers and end-users through that exercise. So, we are adding more and more customers to that on a daily basis.
As far as other opportunities, I did mention a couple of minutes ago. A consultant working in Texas, working for an existing wastewater utility. Again, one of these very small ones. They are under a regulatory mandate to fix their problem. And they want to purchase, the consultant after reviewing all of our technologies and comparing them to other technologies, has selected and is going to specify, recommend our EveraSKID 10,000 gallon per day and membrane bioreactor technology.
That customer, I think because of the nature of the ownership, I do feel comfortable that there will be a design, build, operate scenario there, and possibly an ownership scenario. It's sized properly and perfectly for what we are doing.
Riggs: Well. Good. I mean, obviously, as we move into operate, we're going to need to staff up and put in some software and systems. And that's what Tom, of course, is working on to source some of these. There are existing packages from companies that will offer an operation and maintenance process. And I think we're going to have to invest in that.
But the great part about it, is it's continuing revenue. Right. You're actively managing a customer. I believe that the big expense is acquiring a customer in the first place, and it's very wasteful to then go, "Okay, goodbye." If you can somehow hold on to them and continue to produce clean water for them and maintain systems and keep it at par, then it's a gift that keeps on giving. And then we can step into the ownership thing, which is definitely for real.
I also happen to here on the Progressive Water side, a huge project, that I won't mention the name, but we know the one we're talking about here from Tom. And this is potentially a $5.4 million three project pipeline that is coming. And it's a good thing we have a CFO now, so that we can manage some of the cashflow on that because it's going to be interesting.
But it really means that we're finally moving out of that million dollar a quarter bracket purgatory that's been going on. Progressive Water is breaking out. And with this one, single project is more than it does in an entire year. And then, you guys just in June, did more than you did the entire of last year in just two weeks.
So, I'm blown away because all of this is in addition to all the new stuff that we're developing with the funding. And then the even more exotic stuff with the crypto. So, I thank you guys for the hard work. It is really, really, really appreciated.
Dan: Glad to be a part of the team. And I'm really pleased with the progress we're making. Again, kudos and I'm very appreciative of what Robb does. Also, by the way, Robb is going on a well-deserved vacation. As soon as he signs off on this briefing, he is on vacation for seven or 10 days. And I wish him the best.
Riggs: Oh, okay. So, this means we just keep on going. We're just not going to turn it off and you're just going to have to stay.
Dan: We got to let him go. We're paying him double time. He's on vacation.
Riggs: Ouch. Ouch. Yeah. Well, that's dangerous. Ron asked a question. Do we have videos of these systems in action? And I do believe we do. Are they on the website? Where are they at?
Dan: We've got a few videos. I'd have to go back and look. I'll work with Tom and our marketing team to see if we can't find those and identify them and link you to them.
Riggs: Great. Yeah. Well, Ron, we'll point to them next week in the briefing. And of course, they will also show up in the OriginClear technology section, which we're building out very nicely. So again, thank you very much. Gentlemen, appreciate it. Robb, where are you going on vacation?
Robb: I'm going to the Outer Banks of North Carolina.
Riggs: Outer Banks. That's a beautiful place.
Robb: It is.
Riggs: Wow. Well, good for you and get the salt air and a breeze and then get back to work. All right, gentlemen. [crosstalk 00:45:07] Well, thank you very much. I'll let you go. And then I'm going to just do a couple of slides to wrap up. It's been a good, long briefing, but I think very productive. So again, thank you. And enjoy the weekend and the vacation.
Robb: Thank you, Riggs.
Dan: All right. Thank you, Riggs.
Riggs: Bye-bye now.
Dan: See you.
Riggs: All right. So, just a couple more slides here. As I said, Ken is in Puerto Rico. So this is just a quick formality. We have Series U, which has this wonderful leverage, but most important is the conversion price is guaranteed to a certain ceiling. That's very, very important. One second. I got a chat from somebody. Somebody is chatting with me.
And then the other one of course, is the one that's building our funds and we believe we're going to start... We know we're going to be getting some inflows into this. And that's going to enable this DBOO as we call it, Design-Build-Own-Operate, to happen. And then everything goes from there. So, that's quickly about that.
And of course, Ken, to schedule with Ken simply go to oc.gold/ken.
So, what I wanted to quickly say is that the story with the coin is developing fast, but it is really being done inside my office. It's being done as a completely outsourced activity. It's not impacting the team at all in Texas, nor even the corporate team. It's being done as a special project. But I think it will do... I have been very frustrated over the years. Some of you have seen me try to do things, for example, about that water in Compton. And it got very political very fast. So, I'm really looking forward to being able to break that.
And so from blank to everyone, a long but nutritious brief. Well, all right. Well, thank you all. It's been fantastic having you. A lot of people stuck around for a very detailed briefing. I guarantee you these things, you will see a lot of detail. I'm going to give you a lot more data about the Water Coin.
JRW says, "Just saying hello and thanks for all the great work you are doing. Looking forward to being able to invest." Well, I love hearing that because that is a big part of what I do.
But there's very, very important stuff happening where I believe we're going to be able to sponsor something that gets people, at the grassroots level, able to do stuff about water while we take care of the industrial water treatment things.
And without that, we're just being a very niche, very specialized operation. Stephan Davis, thanks for the update. See you on the next investor call. Thank you all. I appreciate it. You all have a good night and enjoy your weekend. It's been wonderful. And thank you, Rick Garcia.
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