PBIO - Earnings call 2 2021 | Pressure BioSciences, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to your Pressure BioSciences Second Quarter Investor Conference Call. [Operator Instructions] At this time, it is my pleasure to turn the floor over to your host, Ric Schumacher. Sir, the floor is yours.

Richard Schumacher

Thank you, Melinda, and thanks, everybody, for joining us today for our second quarter financial review and business update.

Before we begin, as always, I need to read a short cautionary statement. constitute Litigation within Reform may the meaning remarks Securities Private Act following forward-looking the statements of The of XXXX.

known cause forward-looking performance or achievements involve factors statements. different from company statements and or results, uncertainties materially risks, Forward-looking performance future and to which be may achievements implied the or results, expressed any actual of the unknown other by such

which Commission. time We among revisions statement others, based. to disclaim any Securities those in to the in our in such include, time the publicly company's any or factors reflect or Such and to is obligation any events, from Exchange expressly any release on statements undertaking change with filings or detailed conditions change expectations any to forward-looking or updates circumstances

has as from call with to number and a them. is to and that voice of number get on First welcome because extremely and especially investor worked I'm welcome companies a the I'm of pleased over of John our everybody recommended today, pleased on of well all, the call. this I I this came of know a new years many voice always, John Hollister. people

said the Pharma Biotech known start I've in him years. space, for as He's all way and to allies. I the many ups with worked billion dollars

on of marketing our new full help, area. time back he his part-time some October then was he of ago and start asked he'd And asked sales which help. still because us the He just and I to Director is started in Marketing. sold He's XXXX, adventure. come in I yet. positions the about if And we John his and gave while particularly years. yes, So about XXXX. a been him over in thinking in company X successful October little adventure board in next said, hadn't he's it years those very CEO. This his the lost last for waiting was Sales And and

And agreed. look I history. to is our best do All And This history. one a second results PBI's take as for and quarter rest back-to-back the say, second the in at is to he my needs the first quarter. delight, is

Of the in John different And second story. that's why history. it we've say, asked course, back-to-back, our quarter best of but entire had I it's it's best to wasn't the But that as a iceberg. the back tip just I the

minute tell just I'd begin, listeners just So to a of like your background. would on That our before you or we and up microphone welcome helpful. so please John, the be

Unknown Executive

to And and in Pharma it's vaccine background, help really there Klein, series into billion which that of people more in touched did X launch a after those predominantly to and vaccines, $X just investors and launch of Stanford and Rick. since got global Amgen help for about the oncology, was speaking made went than So I of also first beyond Rick with develop chance commercial be of oncology a Neulasta, lead a as past that's years graduated Biologics year number U.K. a to let Salesforce and a but I called can't an from -- in it, product the assets. in your its to Big first marketing I years on different started left believe sales I to XX roles. in got started And and where why pleasure

decided of companies, I big world. of my go years start-up friends have XX after like try and to off But some the

of And sounded both and experience as lot help fell the is Ultra of I'd several for got doing couple in where very all ethereal X about leadership and the fascinated love in then cake. it Pressure in already Biosciences Bio a with and by years because years watched transformational pharmaceutical, and just medical is of the icing of -- so is initially since platforms -- is diagnostics but Agrochem had like companies, spent I've a technology We've just And roles, a known and And to ago, I last a public that. CEO device years period commercializing this the excited addition then, on private. Ric XX technology. few Ric mentioned company really Shear including

I'll to back Ric. pass it So that, with

Richard Schumacher

help in appreciate. course, Thanks, I at can think which is are have board. we've It's on what see in year doing is fire mentioned, a to that This on going then many our only listening look to We so so starting quite a to why you far get great transformational. you've opinion, agrochem, a so and transformational better you we things I think the And that of John, This me, the have Barofold been -- everybody we're Shear coming Ultra to hopper. about after excited out, with been take -- and as is catch --

are early over things year. months the next these coming weeks, to of fruition all coming So and by

like is helpful to with going So be investors you our to your experience. very to and guy our a company

doesn't to adventure So at your need we that -- keep too but I next PBIO. because as I say you hate know, start keep here soon you I praying

discussion then meeting, far then so and the to to Q&A. brief today's this in a some for up of open the with highlight very start we'll we're accomplishments we're going for results. year, So quarter of it second going and

in in I'm always to need the the financial no release them press have side, sent There's -- through in On course, detail. and go finances available we call. after the of the the out Q both

you not and that of in but know reach the to any second have would a have, things me both some year-to-date. how to quarter guys take questions happened You highlight shame the terrific the it be to

the a strong like very just we So quarter, quarter. first had second

year. last up Our over $XXX,XXX and over XXX% revenue was was it

consumable at the quarter. XXX%. rate up the started sales of the but way end instrument sales Our they led down Our picking And XX%, -- up were

So we're year lot. so concerned. course, up for And a far, not of the they're

it's BaroFold service, the up and to quarter. it's right and -- So starting over is catch and first over it's now just year, a BaroFold up fire And last it's it's UST, primarily and which XXX%

at cake. these down operating you then look the it's things loss, and just went when and XX%, all look loss the over you Our see icing that on operating

second of a $X.X million loss million our down And we time, the million So revenue and in $X.X from for at half. the very down lot strong desire for business. have the same to to $XXX,XXX a of a lot board pressure-based from our across our core products operating $X.X the increase, reduced first we calls, quarter for

So of are right direction. we're for good And good year-to-date certainly because the headed numbers quarter. the first the as in the just

me once any the happy if you give you time at after questions Q&A, again, our to call, through look have I'd either prelude any to end be or So go at them, the brief a of them.

I good In into a we highlights, today, new PBI a financially, business strong saw terms quarter in a can that We chemicals, that been too another put of only just are our food. strong we're get even we in technical eco-friendly And -- Technology, called going many Agrochem. on can have make knows, but July, everyone We a at these on business. we banned for food. very products subsidiary had where the Ultra not operational just and feel We quarter we use very too we our agrochemical and into chemical with formed looking into chemicals has agro in space land. had the EPA by we put our We technical many chemicals -- operationally crops into Shear as better.

the only product line on. off of an working to it the that's developing be to couple going for years, own So we're products, and sort of not existing bring we're back market going a our we're of acquisition on been

following but new Terrific product that tide, have can improved like we agrochemicals. has line new a improved just the

about agrochemicals are of Our the based Ultra in is not Shear nanoemulsification role helps. really a where if play to and half that's this chemicals, and more, a oil going big

a effect most better get and in less apply cases. can You

so everybody the Ultra Shear behind and platform for is the X in X received months, -- last we nanoemulsification, -- knows, nanoemulsification. speaking to X which Technology, our as X patents the And over months new

in come a in site got already early rented million week. very We this. over about excited packaging. we're probably week now processed next We both first doing and announced to we'll west, the million that in happen and a month expect full-time to We've this of needs where get so shipped orders $X the out be We've And up already processing materials out or agrochem. setting and this warehousing employee. of first week, the $X.X

But further. business. are in compounds them use is that agrochemical and less there business. what's green, needed can The multibillion-dollar the eco-friendly are compounds make and So really a them go we business of we

excited going we're very And about we're in that so space. to what do

has can got John you also only likely John and shoulders, he's most you've as and heard. be it's because enormous because been is a He that team on it background. an working assured of it's to I already so background, a been have terrific of going his shoulders, lot happen but on things help my on not as

full the And to we its help those or it's he's last or X full-time so areas. into BaroFold, down employee. whether Technology And the X actually months a all months pulled as a Shear few even launch over a agrochemical Ultra of as been

Unknown Executive

If thoughts I couple agrochem can business.. add of on a

Richard Schumacher

may. You

Unknown Executive

but my agrochem the very and excited fertilizers what very enhancers. they up truly and in agro so of doing employ and oils are do, ranch, I A were and or oils, citrus actually like different with in does. these business and on eco-friendly oil grandfather familiar separate an large effective and many firsthand natural revolutionary, products your because kinds are growers in them of business the our -- couple very pesticides avocado or grandmother of color And the fact, vinegar grew they actually but I'm it. product of they complexities about do, I'm but

is I and for before totes X,XXX are little to of time, can that you say it's with propeller time time product product upwards any of X so can and XX sit period dispensed, to minutes have And sits with And it, it. hour handling mixed in whoever certain has -- restore the it making be spend it when growers thoroughly. these very in liter

same offer annual effective or be which the If motion Ric more huge an likely to, in terms agrochem. the and reasons. side step the to in because cannabis all do or the the we the spent the said, bugs soil to leads use addition it as encouraging world that, of also that into is But in the eliminates which into side potential of been there's of potential CBD on fascinating for has the make some penetration so, goals leave are cannabis or time exactly better could the that

And will so been They're a already that that the synergies. world. in great apply from of appearing agrochem deal there's work we've doing

Richard Schumacher

John. you, Thank Awesome.

at months, X or the so X reported our I X the the X point, or this successful a the great Technology in things last nanoemulsification And Ultra acknowledge compound more or happen of more X to of called think astaxanthin. using -- of on Shear X we

know Astaxanthin I one some say that oil. it Is comes potent antioxidant, basically in accepted potent people -- most an the algae oil, an by of most almost out and of world's it's everybody but there out it's as

that as and things our other many like water-based. tests, oil-based we we're humans So are

well. don't absorbed So very get compounds oil-based

many oil our millions, successful drops billions therefore, at at droplets. at looked and of Shear of been we if millions, compounds active oil basically tiny if spread has gets among We not oil-based the nano-size droplets turning billions nanoemulsifying oil So looked not mill we into nano-size the other and astaxanthin, ingredient Ultra at looked Technology CBD.

to droplets throughout oil And -- ingredient. that body to water very the oil allows extract and and it bodies become from in allows active quickly, our the body in that dissolved the transported those

which more, is greater So to with to XX%, a concept XX% absorption or that what's active a well. ingredient mix the available XX% doesn't get the called or with down microemulsion whereas such amount of general Rasberry-Vinegrette, you is generally your The very body, is can macro XX%. as than nanoemulsion, bioavailability that the X%,

as So get less said, and and John make use it -- we go can further.

can -- interested John, a the to You're world Shear companies John an here to So my you phone has that We're with lot but astaxanthin. or Ultra calls off companies leading with in us idea? of anything, not in people different and X an correct? and from astaxanthin, taken of announce some particular, in X table has John, been multiple that in give we're areas, talking led getting discussions you've the are been has of about excited,

Unknown Executive

response the industry. of the biggest was some in players And Absolutely. instantaneous from the

the otherwise or and light, this nano particle liquid it when reflects element I longer an absolutely technology turns astaxanthin size can allows clear. is the like astaxanthin CBD the as directions are it in applications iceberg. X this opaque much for -- it tip think of very nutraceuticals, just side opaque We it's can first the the so and agrochemical examples, high-value, or whether and in applications go, gets are many no food small, volumes. CBD, pharmaceuticals, larger as but well the are processing, small There volumes the we

or But looking solution a fluid of volume fairly large you of kind beverage, minute, then it's liters in for that's can a we're list processing the concentrated utilize broad that gives which instance, product, remarkable. of of any very of antioxidant potential And CBD is couple astaxanthin a at so anything. our is a like like could second a of a into infuse customers it these a you technology who a product use whether

balancing And organization, as we're great have to so that's that pulling along. the us a but demand it's smaller

Richard Schumacher

saw Growth one here -- now we double last short which understand more the I right But believe the now terrific Emerging just additive I than -- can the to a back-to-back. yesterday products, at talk see to double turn quarter I that -- and to going we is before out now, core this going So gave we're more YouTube products. transformational be is is in talk too year what it you it's all a now our our that minutes. year, something line revenue I should we've agrochemical than it's a thing. that over on the bottom In XX seen, third -- Q&A., called and starting with

year our at or growing. year already next Shear end BaroFold's early And the the Ultra Our of old with product.

for So it's and for Bio an investors. Pressure our now exciting time

point, to it there take this turn our to at guests and are So Melinda, over if I'd any questions, like any.

Operator

Gary Plum go to [Operator Tree we first, Zwetchkenbaum Instructions] And with Consulting.

Gary Zwetchkenbaum

I only for for discuss the this the mentioned in ones XXXX on fantastic Thank and orders a you But team if alluded business, you you these QX. made you, year new the recently, as agrochem X-part effects profitability? over at. how I looking you quarter. comments question. I'd to if agrochemical if just And business, with the can of aboard. would you we you number that know like mentioned goals it the you to, you million welcome congratulate you affecting a a Ric. the for and new in be John, on the important as want of should to remainder you then see of what you $X of think not And goals. would the the that top be talk and would 'XX, about have ones, QX

Richard Schumacher

for Thanks kind Gary. words. you, Thank the

of impact going forward. agrochem about is to question first the your the financials So our

we out said to gone significant $X.X million received material. have quarter. As third impact orders expect limb -- say, We've purchased in over we inventory. of already have on We've this of they have for the already the $X million a We

shipped maybe $X.X million, So be that, $XXX,XXX, expect so believe shipped the into between quarter. would of quarter say $X go the of quarter somewhere air. let's the how be that and $XXX,XXX that in much in just will can third rest the I third is fourth to in and that that million in But up we $XXX,XXX, the

we as working come put going out, orders on the in are we several we're that mentioned speak. also we continue that to believe I've And to orders things

the this orders $X of second be the to the set only this so don't expect of half for million, year. And we

excited is because So additive core existing we're through this our business.

there and be So existing expect can that can that some business orders at more finished million -- will to fourth into that I goods probably And we third say, quarter. processing you next the we're fourth purchasing core worth look that add $X we orders. because looking will third material of the more quarter, week at to then two. be in fulfill and additional more and or we our And it even bulk in the the in the would adding add

And for we're just I'm up. so it's -- prepared We're exciting. set this.

ready It bulk to a is process, out. it's it's ship We have facility. product, ready to the ready receive to

We are ready first to and and of processing ship it to out. the go, and set we ability have purchase the material equipment

we're And is impact this will quarter. fourth our -- sort it very So of this third quickly. and doing

in to pulling $X in two. So I a next even or year or we million million do am better we hopeful can have that quarter than $X time where more year, next plus plan,

think than In is goal that next I better our much to fact, do year.

year our many generally aware $XXX,XXX on core do So think are a $XXX,XXX, quarter of again, I whom in investors, we call, transformational our that this are business.

is we it, number. anything that I I to that? top year would from think from our like business to think at going next certainly, add same And least, growing the we're think, amount. be John, to core going more even adding to agrochem. And be on you our of

Unknown Executive

higher people large, end vineyards I is echo of there agro business is the natural. think I totally looked who and especially the know and a eco-friendly a be winery this by would of eco-friendly the just this seen significant here trying at history to own all out California, they product I of -- more demand. lot and pent-up in and this having boutique are it,

the there's great toxic And using industry appeal chemicals. and a so great not of

you order actually label is it these. challenging, products having and the that garner to requires fact, organic In very in are like

return the back are and the on and people their in their the They in frankly, academic year. looking core commercial, offices using and actually the for for So equipment gearing at going to I'm really expand now seen their And business, really a both up of to the centers are are labs. excited rest labs, addition. to the we've budgets

I'm are can where our concept cautiously companies transition as that that have And pilot lastly, proof in we optimistic refer core just towards royalty to in which scale. that's into from we I've BaroFold, then gone of so And and moves a both a the partner we and a transition first return witnessed see to continue business And from benefit big with of the to what moving then this commercialization work. sense. our stage UST because

So very exciting around. all

Gary Zwetchkenbaum

may. I if Ric,

Conference you ago. going to from few alluded had to You only a the but mentioned Growth in -- materials. were additional purchase million Emerging you $XXX,XXX and at recently that $X it the purchased, that yesterday probably you in orders minutes Not you material

you think a and in I you going the profitability? $XXX,XXX-plus orders, this talked little? is on about expand XXXX weeks possibly Can affect how that and coming to

Richard Schumacher

out the gone become we limb believe on profitable of We've as before a end a we and that next company will said year.

of is XXXX. or the as end next But on fourth on first profitable end the soon to It going the XXXX we quarter be depends BaroFold. depends company it or be Before Technology, as the be it possible Shear could and it that quarter. in believe by this Ultra year, of could and the second on agrochem

of poorly rather of well. -- years, program in how is we that built more that's have They a have. a a this more PCT demand, product much is last with right problem year problem terrific care I can't I it X we right demand build and of of to pent-up Our instruments. ago? that's build keep It's this real. it's now. And doing enough do sudden all it's stock instruments but I take do months -- do now I'd problem It's in we these did instruments this do what and how couple have started the the

we're And so next looking forward year. yes, to

business is good does agrochem a has The and revenue that margin. business a high a

so -- fall a the it this high And with should should bottom good of revenue and to lot line. margin, a

comfortable with will year, company feel that saying Ultra next that in we combination some believe this Shear and point why that's of we be so the at agrochem. profitable And

agrochem eco-friendly organic can other Ultra business. agrochem will many as we I But the We Shear agrochem the -- in green, available use cash be used, competing with business in for type looking other Shear the -- be should some Ultra be where areas the be Ultra won't coming stream from of we'll of our making areas, our of that's users. Shear incredible In say, platform. and continued those

seen that, other letting going many the of are so a and other forward use Ohio we've And number from and we're it. groups extremely looking state Ultra getting things well. to out industries with and Shear many

Gary Zwetchkenbaum

your you and outstanding. to I'm period of you've done Ric be your I X visiting time what this division and and recently, new year. John, in forward was next quarters you should team, office a looking the is commended, short with next

Richard Schumacher

of they're to time. asked Thank going briefly, you. think Gary a I key, But And we're not up take about important. and lot the

I'll just mention a few. So

job by a on ours. this think over things the one. out of put forward. take debt we've time of much had I of and keep of no, we been bullets on done cleaning it A We've is to lot debt But lot up up we've And up year, better by stock. Part additional is the debt's things that debtors debt a cleaned onerous taking is tough were And last moving the X additional has people We've last of key that good had the converting years. cleaning -- years. into that to a X.X of over say, had few good. part goals balance debt. sheet

But not a as the better. took as onerous debt we that is is nearly debt

taken we've debt. use pay that more to off of so And the and some debt onerous on cash some

of And ago. be cleaner sheet, strongly investors on the know that very weeks are our is of the some only of is goal sheet than debt couple the to want year the much balance balance a next was is cleaner much of company. months couple we we supportive it much, from really X to than it over the debt was our is ago So a years and

some convert part to that debt that on perhaps are exchange, the national the as need people we're them going into a at of we from these if debt getting time, now. equity And

and up -- same more much million our or debt million we're or friendly with and sheet more using that. debt using at $X reduced better, do onerous of So either the to $X replaced equity cleaning it much balance and we've

up very a that analysts. need and on have high Moving to NASDAQ in single We is an have is investor. institutional This a or company to and deserves need a New Stock We company support. demands Exchange We this to exchange. York needs as don't be national institution that institutional support.

broad York We and us. that base will bring need that NASDAQ New Stock to Exchange

to So below goal. prior a I got This started that stock all was open $X. goal companies get because company can fell major I NASDAQ. And up a it our great only really back it until once think And wings our company is in have company were Remember, on chance do we that, to NASDAQ. fly. is NASDAQ the X delisted we this this can

company are finish acquisition agrochem the assets the We've PBIO, going goal ours. major and that got PBIO the a to got this it's We've to agrochem. to of just other expand. of of So add to

intellectual We year or in X so. patents expand X property. gotten We've continue our the or last to

Shear their we use prototype. going list to prototype we're be and shipping product it Ultra on industrial join and world who's Our interesting who our inviting from to see around how come to see -- and come works the and going the a machine, our have going fall to and partnership State very be consortium and them, with Ohio consortium for to is with we're because we're out

these of end there's got the So to out of Shear Ultra early we've get so things, all or the the by next and year year. many

cumulate do things on like have a It's a the company. to realize help many me who forward, much help guys that's this and so is that and different a dunk to here. going John company transforming to team we that board help Jeff into there's small So as and company coming

have feeling to these goals and reach. it's within all yes, So know a great they're that to

Operator

we to private Next, investor, Tony of line go Aggie. the

Unknown Analyst

very this to to make a going try I'm quick.

was patents. especially the it I wondering, And geopolitical spoke is. You with the about as situation

company You and are you have who have And strategy short do that business those a patents concern? this China. possible for in to also trying ground? the a Is also, into

Richard Schumacher

all Number he's business part He the one, mentioned are of not there you have that issue question, Tony. through China. forth, issues geopolitical on. in the not you us. Thank of his about We the continued I'm do for about customer have issues We going concerned business. It our is back large a to and work. works and do major who with And a the we with have with us. China work But us, to well. important continued with China. team on to say happy dependent We not but is that work to we're I'm them, work them all They work anything the with are the with But no place. group past China. happened over us. major And in there's the that's in we been disruption the from -- group

in throughout the We have Central and U.S. America of course, Europe, very South Canada, Eurasia strongholds throughout good and

I issue all. So an at as that don't see no,

can't that company is believe know look the this In are the activity believe on terms shorted. who get day, every is I phone the that and they week comment I of concerned that -- investors from I every who shorting. they company, calls at being how really

profits. four the having traded CEO the publicly is companies know I the beat companies the publicly and what four do. on them been of And companies, fourth to revenue actually and All traded best three beat we're to started way with shorts traded that's is going Board to publicly of that

transformation X, years, we're very going they're wrong. for going to that and a company they're X, company that break The that to ready X, out. is up confident, we beaten that is begins to it X clear been are company. company now. very This last believe transform it Whoever they've already the We're shown started. We this be very and out. We've thinks laid strongly has this

about. shorting starting what doing we're just much So and be about shorts and not by that's talk I know I beat already. and it's you'd know to us we going that beat delivering shorts Tony, believe deliver, I how to won't what expect because something investors to

Operator

private Joseph. another have we Martin investor, Next,

Unknown Analyst

any out do them and the it's that supplement products potentially want find users. you I to have that other call say, greater In that you're companies to can guess the questions that. less say, appeal reaching using, astaxanthin related or product. pursuing you be with bioavailability that to, premium the you might to, the I

at milligrams there. now X So my astaxanthin, in looking there's

So bioavailable. obviously, as it's not

-- to for they'll more would branded to of this? you're X, then are milligrams X are reduce? astaxanthin, milligrams "Hey, sort still say, companies But the of thinking market from getting a need looking product be have another keep that Or say, they would they you only then company? they'll that So but X market then

Richard Schumacher

great a John. It's question for

to it over to I'm the line astaxanthin been the are to and John. that compounds. John them he's So right and all talking lot -- about of of other in of a the us calling front going asked turn companies

Unknown Executive

I'll companies. happy you as Thank this. people And a attributes over. also answer for had I've Yes. great different that are different It's turning pursuing question. be to from it

rates same it in Astaxanthin many I business, people. were appreciate of have broken think is you secondarily sold, or the these actually relatively the achieve or reduce by down cost predictable metabolized I amount oils in can a need this, of you debt are you're to in because the and goals, different if expensive, dose. metabolized limit the different importantly, if the the goods Because

so really same don't you each for dose And have the person.

that of deliver you more much to you these theoretically, at And to dose actually make suggest that the least be want oils, an can you when or deliberately nanoemulsion deliver.

that aesthetics. attribute a products but certain I well really adequate. if these to CBD found with as clear what active can do nice several the we've be is and that final up made as and Because nanoemulsion it's a it's have concentrations, other product, clear product the astaxanthin is to especially in whatever if concentrations that's third seem The we put to agent,

one different it's So attribute. for not particular different It's players.

So I the to think describe that's it. way best

Operator

Next, we line Asset with Scott Geoffrey go to the Scott of Management.

Unknown Analyst

worth million X XX commercial many meant in different like through big with $X it the of consumer's from from details, orders, is customers? about us get that of How each details. I'd be kind it use million goods? many on orders drill specific talk nitty detail and growers? for housing million Or a it numbers down Is and Is in kind order different for? products is customer some different to of of $XXX,XXX X $X away going from stores The agrochem for of that Or gritty guard retail $X out customers? to the it to those please? garden backyard is distributed orders help for how XX

Richard Schumacher

little in we a growers bulk plans more Jeff. I'll of large growers. the And much going of -- But The will most first go more with it's to too you, is into large bit, cases, weeds bulk here. now. more than retail. have in But to get to to I'm not right all, generally, tell I lucrative retail

some do retail. And so we

think, already is X bulk we're what product product, be But we've I generally In shipped fact, the going to some retailers. X or to doing.

range. So piece it's to X customers be not to $XXX,XXX $XXX,XXX XXX XX $XX,XXX that a like customers more piece. be in at going a to going It's at to

now, going where it's John, that's a right can We to you for the small we it because users. into more that's lucrative. have I customer nitty-gritty, same very And a retail on eye needed. bigger product get But much getting going without amounts be think the cost, want to our product, do larger to the add that? can of provide to payback we the it. get same can So

Unknown Executive

the and stuck the the Yes, dominated through I combination not moment. know, there as a agrochem growing business, distributors may on agribusiness of who for central very net may distribute is It's large that then small are driven values or some large the farms. of the X. you and by areas Yes, to was

we or depending as customers. there's of ship And familiar almost and totes and of liter group see or as of through very spread the on are plants, which top water But drop sale product, large volume, sale is. also literally to that either a systems them it agricultural on chemicals are big product sprayed second look definitely so X,XXX it's if either these distributors the this use with those you direct

which at Ric's margins to our us. directly value, consumer-oriented trucks the drive core are we the it business, in the years, to the XX-wheel going of higher very shipments of first farm see bulk definitely to that shipments in directly couple I are a at least or higher be, large either to helps. So the for out that portion point, products, business to the distributor. large hope of But

Unknown Analyst

that million Or That one Yes, is for helpful. $X that's that that product? is multiple products of orders, you have -- do going are out?

Richard Schumacher

in season all not what's and different, products. There's XX is the it's time. The several but growing there, growing products like

the some are And products now. needed so of

in needed are products the November. of Some

a period. the Some our we good all and that's of seasonal majority the to want of products agrochemical are in sent where X-month because be don't --

So season. every we have for products

can needed its we're you'll so see of And season the its now own set that's will each products. have which that some of the right this of that we need of products will next better set we we made, own even into then and have that products season are things going better, come. make already seasons make good the think that even future, for And in

is, corn or it products to year. or a whether months being hope basically have shipped or So grapes XX we soybeans it's out whatever

Unknown Analyst

And product tell what you us exactly does? can

Richard Schumacher

I tell what, Jeffrey... you

Unknown Analyst

herbicide, An benefit it or give grower? does what insecticide kind that of

Richard Schumacher

have We we that pesticides have all -- fertilizers, we are have eco-friendly. both

of -- combination, not it's we're your question, people. I'm or just in the So to we're trying but end with middle evade not near negotiations the certain a

I want that. things So keep we got understand -- to to some we've you know the to close vest.

even right down take But in itself, X you we to maybe so be speak. that. do So line can perhaps we now, in months, product call the our can't

that's a this, lot IP not of secret based have driven. which trade We driven and on patents is

haven't careful those acquisition, the -- we now. right what we we're to but ourselves we say so doing be finished to some because of want work And

about think that grapes you that other growth of like into put plants couple best the other this or stimulant to releases, things when like or on things fruit. treatment, that So the a we going press the finishing are products

it it combination, makes So gives which good broad-based. it's because is a much more --

Operator

be today. That does have we all to the signals appear

for Ric turn Schumacher back closing to we'll remarks. So

Richard Schumacher

John, don't thank that very meet of is a to by all, company. great our background of base as you're First me helpful particular help and phone you team and for the up and was "John, you through me say, in very go to able what CEO have part pick you joining us, see gone It's who's go now, I I which to through glad a where impressive the this". doesn't I'm know because your of need to and a public out CEO that investor someone I day on and especially

think of and own for about very your John, you thank everyone, starting time the being. So front much in thing don't publicly

exciting This And for And I know, of I'm taking phone. thank time. an the just always everybody at you else. end time. the for available is as you other

-- going start. a I the believe We -- last old a quarters. a we're you think we best to a the but we that think much or We last few that great yet to We fruition. have phrase, years to coming X terrific put all and start a a tough We've the are when true. in We motion had had over ending absolutely is always believe It's great we We the to a come. to transformational reasons, ending, think this it's X different better case, year. it's believe had tough had have things into better is year. great we've a year for our years X XXXX.

of. in have is top taken icing And then it, on agrochem, of which opportunity we the on cake advantage this the

makes into It come go all exciting times. in up right -- because moving to. right early So to and easy makes every it has as work phone and get and it call direction everybody bed the on it's investor this late an to it

have, and of You've return very, have for that's very years working to of been out a new for investor everybody, hard been investor especially for you some us the and I and patient, you you've Those we're patient. us know with the who get now. years, been helped very

Operator

This does for thank you participation. your today's conclude teleconference. We

You this day. great Have time. a may disconnect your lines . at

Pressure BioSciences (PBIO) 19 Aug 212021 Q2 Earnings call transcript