Thanks, R&D the Kristi, team. entire and
in Our developments as progresses. dedication persistence for forward months. tests about and excited to the prepared am will critical we few I last the YieldXX's ongoing mission be and look year field as
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for As to execute markets. strategy current based business potential merits a and result, development on near-term farmers are beginning we for our its Camelina
to will this advanced factory near-term accelerate revenue products. chain of our the with expect establish parallel of with leveraging to of the generating varieties that deployment the We in goal trait value allow us
in GRAS Food rich heart has and and the use is and omega-X health produce The participate higher XXXX in food, wellness prevent compared studies in been Camelina cancer applications sale oil soybean Camelina and crop oil fatty alpha-linolenic of in Journal help directly recent the used feed protein Camelina YieldXX the shown may acids Residual provide in Canada. meal study makes in published and acid heart lupus, in is been in is provide oil typically ALA, Nutrition in use countries. these to for indicate feed also trends aquaculture These some crush, Omega-X from that rheumatoid content the and the a other conditions. oil approved and addressing of has and this stroke, The fish Research. U.S. Camelina of benefits of and of oil global oil. of omega-X disease arthritis, clinical is meal opportunities, protective making salmon both an in help plans preferred market sustainability. it the acid in initial as ALA products. to control attributes macro have exciting is seed for a in Molecular health protein oil considered fatty may approved feed historically and for eczema to roles end and the currently Harvested called
In YieldXX without outside become a compete corn that the to near commodity crops. in focus head-to-head having to Camelina, acres oils positioned on production nutritional term, leading is for we believe well produce the with player belt to of
including our nutrition, polyesters markets, term, product longer wide animal biomaterials treatment a with seeds application PHA as production the a vision microbial is produce bioplastics. Camelina. In the YieldXX of PHA range In as to wastewater for in enabling engineered of new Camelina from patent a of and filed potentially U.S. natural natural processing are in PHA technology, XXXX, biomaterials seed. applications biomaterials low-cost third
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Slide highlights. to cover turn XX, a few Please and financial let's
$X.X loan million net and received payroll Act of and U.S. our support to the first determine loan under quarter in equivalents protection loan investments. response the a on of business. to to the Our a staff our quarter. retain COVID-XX. we the amount with first ended in Cares April, and the program payroll cash second In the We for the was We support issues for thorough under in cash We payroll necessary to $XXX,XXX $X.X and conducted was short-term utilize the intend cash, implemented program. business review under funds quarter operating the forgiveness apply million
balance other We have sheet. on our debt no
government will together expected into our current We support second revenue grant, expect cash on our with operations hand, the quarter XXXX. from our of
net range million our still on anticipate For cash million operating to the usage in XXXX, based plans. we $X.X of $X current
We our this executing towards are investment directing plan. business
$XXX,XXX quarter results. of the reported million was XXXX a first quarter quarter the expenses to in driven loss grant $X.X operating first a The $X.X net Let's were from and $XXX,XXX now of compensation increase of first primarily first to loss the operating for of Total by quarter operating benefits. XXXX. in The the company XXXX review operations of research XXXX. quarter of related first revenues employee the compared million for net versus
be to in the affected ability was ahead. in under the conduct Our months and research grant planned DOE expect research quarter, first not in to conduct a to way as we able the significant
the G&A in million, and This development compares and of of research million. expenses were research of G&A $X.X were XXXX. million XXXX, expenses quarter quarter million and development $X.X and $X.X In expenses the of $X.X first first expenses to
in from a charge includes the operating loss of noncash company's a May, $X.X off net with space of At to the warrant liability other XXXX write recorded expenses expense total and excess in within improvements change income a in quarter Mass. and leasehold will complete related the modification, the of Our Woburn. noncash $X.X value lease we fair million first charge our space Lowell, end $X in million for legacy of our to million operating unused eliminated reduced obligations of associated
our on retaining grow facilities to space will as result, in our team sufficient Woburn in facility a cost we capturing savings XXXX be needed. further As while our
shares that by following to $X.X exercises. warrant that exercises, first adjusted In that in offering was exercise we the public had exercises price million warrant accordance were the some each an the stock proportionally who exercise common to collected and additional with reversed reverse there probable split, these After have approximately but In the the shares turning of exercise it month quarter. YieldXX adjusted some that in excess warrant March. DTCC. XXXX proportionately the were in the March, XXX,XXX which of warrant of exercised in exercise the agent February November further following for the been up investigation, number been excess warrants stock not each during warrants indicated XX,XXX been Now warrant there had warrant informed our They warrant investors in receipts we upon securities certain of of had issued processing up issuable issued stock records the believe around appears split of in May, issue with to holders. been in
as reclaim any start warrants. in DTCC XXX,XXX, to soon this we number exercise As collected our result, correctly. and are I'll to we February and to common there know with issued as can, separate on that connection excess that second these excess was that agent processed in warrant of working return a which were proceeds any in were with shares of stock brought that warrant a was
our For and XX-Q. to more release refer results, details please quarter financial on the earnings our first
to develop turn executing generate Slide XXXX, including Camelina; to for testing yield to program, now in commercial agreements we scale traits seed; transacts for by progressing establishing growing like focus canola milestones: traits follows: agronomic planting our development, and the Forage the In to lower field following advance relationships product boosting agronomic in of with secure our we season Generics continue in as tolerance EXXXX crushing industry will data and business success we Camelina XXXX collaborations. And varieties corn. large enable partners. Simplot including the sampling; milestones. to on XXXX Let's would transportation discuss lines Advanced and to the expansion Support traits, securing growers seed some cleaning, developing and yield of acreage in potential cleared with at XX business in upcoming including genome CXXXX and and evaluation the and our and series; traits, CXXXX Camelina line the need herbicide including and and discussions and advanced with the and products editing, Bayer, by for progress to storage our oil CXXXX and finally, and USDA-APHIS. and Camelina production recently will offtake plan traits, QX;
like to turn the to I'd that, for back With Lynne call questions.
