Good morning, everyone. Kunal, have you had a chance to let everyone in? Yes, Sanjay. Good morning. Good morning. Welcome to the Investor Day at Mace. We organized this meeting to present and outline five new ventures that Mace has entered into. We've been working on it for the last 12-18 months, and have launched these new ventures in the last three to four months, all amidst the background in declining sales at Amazon and a couple of our retailers. You can go to slide two, Kunal. Yeah, just letting everyone get in. Let's start with the market for personal self-defense. The overall market is pretty substantial, at about $5.6 billion, and it's growing at a 4%-5% rate. But the general feeling around personal safety is that there are growing concerns, and you're seeing this on campuses, you're seeing this just in a general sort of social trend. It's nowhere close to what it was in 2020 after the George Floyd protests, but there is a general concern for personal safety, especially when you look at the lifestyle of walking, you know, people who run a lot and walk a lot. So during this time period when our sales started declining, which was around the early part of 2022, late 2021, we looked into different ways that we could grow our revenues, and that included not just products but services. Mace typically gets a fair number of inquiries about partnerships, whether it's from inventors or people who want to present a concept to us, and they want us to make a prototype. During that discovery, there were a couple of things that came out. This included conversations with law enforcement personnel, where Mace looked into different offerings to enhance and increase our wallet. This resulted in us moving from just being the most recognizable brand name in the pepper spray segment, to being the foremost expert in personal safety. The company did not have a lot of cash, so we needed to figure out a very low cost of capital type of framework, where people brought us concepts, we leveraged our brand name, and that's how these five new ventures came about. There's a sixth one about to come out. We're still going back and forth with our partner in terms of finalizing the agreement, but that's the context behind this deck in general. So the priorities, looking forward for the rest of the year in 2024 and even 2025, is pretty simple. We need to get out of the hole that we are in. You know, cash is super tight, so the idea of being very, very lean and being super efficient is very, very important at the moment. With these new ventures, we have to look at entrepreneurial ways of marketing our new ventures, since we don't have the capital. We are looking at concentrating our efforts on landing, you know, our typical playbook of one to two new retailers. And if we were to look at the new ventures that are the most promising, that can add a significant amount of revenue, those are our Amazon Seller Central, and we'll explain that—this in a bit, our new PepperB all launcher, our partnership with Salt, and the training segment, which is cash... You know, cash rich. This chart shows the new ventures in detail, and I'll walk you through all of these. The one on the left, if I can draw your attention to that box, is the s2 Mace Pepper Launcher. The way this is configured is the... It will only be available on direct to consumer as we start off with one, one gun. The goal is to sell approximately 3,000 guns or so, you know, within the next 12 months, which amounts to a little bit over $1 million or $1.4 million is our goal. The second new venture is pivoting from Vendor Central to Seller Central. I'll explain the context in a minute, but as we go through the details. The goal is to increase our revenues by $1.7 million over what we are currently doing. We are at a run rate of about $1 million right now. The third is the Mace certified self-defense training for civilians and instructors. We have landed two contracts already to train 30,000 or so people, and the goal is 330,000. The fourth one is the GPS-enabled pepper spray device, which will be sold on the DTC channel as well as retailers. The goal is $900,000, and the last is improvements on our website, mace.com, which is a very high margin platform, and the goal is to increase our revenues by $1 million, and it's being headed by Kunal, who's on the call today. So this slide shows our framework of how we approached these new ventures. As I mentioned before, the way we approached it is to leverage the Mace brand name by co-branding and licensing in end markets that are attractive to us. We looked at very simple models. To give you an example, the way the Salt venture is organized is that the products don't even come into our warehouse. They're drop shipped from the Salt's facilities. The idea is to continue the lean mindset and continue to look at other co-branding opportunities. The sixth venture that I mentioned before is going to be in a completely new segment. It'll be the school and university segment that we are not in today, and then by using entrepreneurial marketing techniques to get our products and services in front of our audience. So starting with our first venture, which is the Salt + Mace Brand pepper launcher. The idea here was to introduce a product that bridges the gap between pepper sprays and firearms. This product is a very effective product. This thing looks like a gun, but it's non-lethal. So we partnered with the inventors of pepper ball launchers, who've been in the business for several years, different organizations, and we developed a co-branding relationship where the idea was to leverage the Mace brand name, especially with the accessories, the live rounds. The consumer seeing this, the Mace branding, we felt would be a very, very good playbook. The response so far as we went live has been tremendous. We sold five launchers in the first 36 hours of its launch. Why are we doing this? The space is pretty significant. There are 200 million odd folks who, between gun owners and folks who are not gun owners, there is an increased concern about personal safety, and there is a lower tolerance towards gun violence. If you look at this segment, five years ago, most of the players had revenues of under $5 million, until one very large player is now at a run rate of $50-$60 million. They've sold significant amount of launchers in the last four to five years, and that's been very good in the personal safety space, especially for gun owners. One of the ways that we plan on, you know, making this a substantial segment that generates revenues for us, is partnering with instructors. So I'll talk about our training program in a bit, but there's a significant opportunity to have Mace instructors become dealers of our products, including this gun. At the SHOT Show in 2024, when we released this product, we saw a significant amount of interest from the attendees there. All right. Thank you, Sanjay, and, thanks everyone for joining. As Sanjay mentioned, you know, the s2 has, you know, a brand new product to the company, and, you know, the gun has quite a few competitive advantages to our closest, you know, competitors, including, you know, higher muzzle velocity and, effective range, as you can see on the chart here. As well as price. So, you know, not only does it offer a good value to the customer, but, the build of the actual gun, we find it to be, higher quality, superior, and on a statistical basis, you know, the stopping power is, materially higher from, the peer group. And something we've tested and we found very interesting is the actual velocity on the gun in different temperatures, remains consistent versus the peer group. So, you know, if you have your gun in, you know, a cold weather climate, you know, the chances of your CO2 cartridge being chilled is, you know, relatively high versus at room temperature. And we've noticed that the actual muzzle velocity stays relatively consistent, whereas the peer group completely drops off. So, that is one of the big advantages of the s2. Also the deterioration in the velocity over the course of multiple shots. So, you know, in most scenarios, mitigation and the use of less lethal, more than one or two shots are required. So what we've noticed in testing is competitors' devices and they lose their shot velocity after the second or third round. So it dramatically reduces your stopping power and requires, you know, multiple shots versus the s2, you know, having, holding that FPS velocity is, you know, much more effective. We've also noticed the degassing of the s2 is much simpler than a lot of the other players in the market. And it's a larger size pistol. It attracts, you know, kind of more of the home defense market. And the Picatinny rail is pretty interesting, that it's larger than our peer group. So the option to add scopes, lasers, et cetera, on there, the aftermarket opportunity for the gun is very large. And obviously, we're in the infancy of the gun, but looking forward, we think the accessory market to the gun has a large runway for the company, as well as a large, you know, margin opportunity. It's a very simple device to use. The CO2 puncture is actually one of the more simple punctures in the industry. So, you know, I tell people that it's, it's easy for, you know, someone, it's the first time they're handling a firearm or a non-lethal firearm, up to, you know, ex-Navy SEALs who have, you know, touched our product and, you know, said, "You know, look, this build is very good, and, you know, the product is designed very well." So, you know, the target market for the product is large. You know, we're targeting owners and non-gun owners. So our market is, you know, 200 million Americans, and, you know, we've just decided to penetrate about 1% of that, so that equates to about two million, you know, Americans, as our target market. And, you know, we're at the $300 price point, so, you know, mathematically, you can kind of see what the market opportunity is, for the launcher. And, you know, we think that penetration level is probably conservative. But, we've seen a lot of feedback from non-gun owners, you know, wanting to get into the space, which would kind of be the, logical synergy between a non-lethal weapon and a non-gun owner. But through our early testing, we've found a lot of gun owners actually want this as well. I know in the early days of the launch, a lot of the feedback I got was, you know, "Look, I own a nine millimeter, I own a 60 caliber," whatever have you, "but I want to learn more about the non-lethal space." Because, you know, gun owners also know there's a lot of liability when you're traveling across state lines, when you're using your firearm. So the non-lethal space has a lot of opportunity to appeal to even the existing gun owner market. So we're very optimistic about that, excuse me, that penetration level, 1%. We think there's probably 200-300 bps of improvement there once we kind of ramp up our marketing efforts and, you know, the s2 gets spread a little bit throughout the gun segment. Thanks, Kunal. Our second venture is our pivot from Amazon Vendor Central, where we are a supplier to Amazon, to where we sell through our store on Amazon. So they're two very different models. When you're a vendor to Amazon, Amazon controls the margins. For those of you who've been, you know, interested in Mace and have followed us for the last couple of years, you may recall that our sales grew substantially in 2020 and 2021, driven by social unrest. And Amazon was our number one. Amazon Vendor Central was our number one customer. And at its peak, the annual annualized revenue levels of just for Amazon Vendor Central were in the $6 million range, and that was in late 2021. I think we were running about $500,000 a month in revenues at that point. And then over time, the purchase orders from Amazon dropped, and because of very, very high inventory levels, as we saw with other retailers as well. So we looked at our business, and we're trying to figure out which segment was going to be our white horse in the future. And we decided that this is the platform that would be our white horse. And there are a couple of advantages of increasing our revenues, you know, through the Seller Central model. Number one is we've been around on Amazon for a while. The pepper spray, the word pepper spray or the phrase pepper spray ranks, you know, between 750 and 1,000 on this platform. You have significant Glance Views, and we can certainly use this platform because of that, of the glance views to organize, you know, blowouts of certain SKUs that we have excess inventories on. And this feature also allows for two different type of models where Amazon can fulfill for us. So we send our goods to Amazon on consignment to their warehouses that are hazmat type warehouses, or we can fulfill it by ourselves. So one is called FBA, the other one is called FBM. So in the last four to five months, we started interviewing different agencies that could help us do that in an economical fashion. And, we interviewed several, and we went with this one agency that, with the idea that they would get us to, at least a $5 million mark within the next, two years. And the idea was to approach every SKU differently, where we looked at what the return, or EBITDA, or cash flow, was per SKU. So the idea here is not to offload every single SKU that we have on our website, but to go about it in a very thoughtful manner and organize only certain SKUs that can, a consumer can only purchase on Amazon. And we have begun the optimization process. We have seen, generally speaking, month-over-month growth for the last few months. It's been pretty consistent. There are certain periods where the first quarter, especially, where our sales are lower than the Q4, typically. Q2 and Q3 tend to be our strongest quarters, but generally speaking, we've seen an increase in revenues. So the optimization, you know, we've taken a holistic approach versus previous years and focusing more on the PNL. I think, you know, Sanjay and I identified a lot of opportunities in just the base optimization of our Amazon opportunity, which would ultimately trickle down to the bottom line on the PNL. And, you know, we did a pretty deep study, as he mentioned. We interviewed quite a few Amazon firms, and it was less about, you know, growing at any cost and more about growing at an efficient way and really optimizing, you know, what we have and making sure every SKU the margin analysis made sense. So that's being implemented as well as a new AI advertising algorithm inside of Amazon. So historically, we were not using any kind of AI systems or algorithms to run our ad business. But now the system is probably, I would say, in its 4th week of learning. So we're kind of at that inflection point where we think in the next, you know, call it two to three months, our advertising efficiency, our ROAS numbers, are just gonna continue to increase. And we have a lot of levers to pull on Amazon, whether it's, you know, increased efficiencies, the kind of rebuilding and the cleanup of our store, which there's quite a bit to do there. Which is very exciting because that alone increases your efficiency and your optimization opportunity. And then we also think that, perhaps, you know, introducing a tiered, reinvestment type of, strategy to test different levels to find the optimal r einvestment into the Amazon business is gonna be a very exciting venture for us. So a lot to come there, we're very excited about it. And also just efficiencies down to shipping and freight. We've identified numerous opportunities to improve, so, so far they've increased 10% month-over-month. I think there's an opportunity for, you know, a couple hundred basis points of expansion there, throughout the rest of the year, which is also very exciting. So to think of it, you know, as an investor on your end, it's just we've become leaner, we've become more efficient. Our new storefront is gonna look very different in the next months to come, and our freight and shipping has come down. So ultimately, all of that trickles down to, you know, the bottom line, which ultimately, cash is king, right? So. And then we have the storefront, which I mentioned. It's gonna have a whole new catalog refresh, new design, very streamlined. So when you go to Amazon today and you put in pepper spray in our store, you'll see, excuse me, only a few SKUs pop up. That's all gonna change. So I encourage everyone to stay tuned and kind of see our progress. The exclusive offers will continue as we kind of go through this blowout of our excess inventory. We've had very, you know, early signs of success on some of these SKUs. Specifically, one of our SKUs, it's moving about 100, you know, units a day. It's an exclusive offer. And, you know, we really have the ability to pivot and move these overstocked, you know, ASINs, as they're called on Amazon, with the new strategy. So we've become way more nimble, which is very powerful, very, very powerful on Amazon. And then looping back to my s2 is, the s2 has a huge market opportunity on Amazon. Our peer group, the leader in our group, they derive, you know, most of their revenue, a good portion of their revenue on Amazon on just a couple SKUs. A couple of other competitors in the space, their early data is very encouraging, given the limited ad spend that they've put forward. So, and our historical trends for the word Mace pepper gun are multiples, multiples ahead of, again, the peer group. So, you know, we're blessed as a company to have such high organic interest in these key search words. So once we have our store optimize the foundation, we're gonna be able to put up the s2, you know, the rounds, the magazine, the CO2 cans, the refill business, the razor, razor blade model, on a fully optimized store that is, you know, bidding on keywords, plus all of the organic traffic we already get. So as Sanjay mentioned, the DTC opportunity on the gun is not only mace.com, which I'll get into, but it's a big Amazon opportunity as well. You'll have to excuse me, I'm a little under the weather, but mace.com, so this is my baby. This is why Sanjay brought me in. This is our white horse. We think we have a huge opportunity here. You know, mace.com has never really been optimized or properly set up for success. So we're doing a few things at the moment. We're, you know, optimizing the ad strategy. We've eliminated a lot of excess cost, agency fees, ads that were not providing us a sufficient ROAS. We've become very customer-centric, and we have decided that efficiency, customer satisfaction, and a new customer journey are what are the key priorities we were gonna put forward. And we want mace.com to be the exclusive destination for, you know, value packs, specials, say it's Valentine's Day, or it's back to school, or graduation month, that we want the customer to have a reason to come to mace.com. Because look, customers will say, "I'll go to Amazon and buy a spray," or, "I'll go to my local store and buy a spray." So why is mace.com gonna become that destination? That is the problem we are looking to solve. And I think the first way of getting there is becoming a source for customers, becoming a knowledge library. So what we've implemented now is 24/7 customer service. So we are available weekends, we are available nights. I personally have seen in my testing that customers love when you are their personal safety partner. They will come in, and they will have questions. Usually, it's a time of distress when, you know, something unfortunate has happened in their life and, you know, they are frantically looking for their safety partner... Which is Mace. I'll tell you all a quick story. It was New Year's Eve, and we were, we were live, we were on our customer service, and a gentleman came in, and he had just been unfortunately mugged, him and his fiancée, and he wanted to know what spray would fit well in his tuxedo jacket, and what spray would be the best for her to carry in her purse. And we were there for him at 10:00 P.M. on New Year's Eve, and his response was: "Wow, you've won a customer for life." And that plays into what we like to call at the company a thousand fans. These are people who are our loyal customers, who are repeat Mace loyalists, who come back and not only buy for themselves, but buy for their friends, their families, their loved ones. They trust the Mace stamp, they trust what we stand for, and they trust our mission statement. So how we're doing this, it's a lot. We're focusing on, again, optimization, a new strategy, and UGC content. Just a fun anecdote is that, Mace's Instagram got un-shadowbanned for the first time in four years. So, I encourage you all to go check us out at Mace Brand on Instagram. But what that means is we are now searchable to 99% of users on Instagram, and for the last three years, we were not, searchable or findable to people on, the platform. And, you know, Instagram is a very, very powerful tool in personal safety. So as I mentioned, we have the 24-hour service. We've implemented a new, SMS feature, which allows, almost a personalized shopping experience. So a customer will get a text message from us, and they'll have a question, you know, "Hey, what, what spray do you recommend? Or what's the size of your Triple Action?" We are able to actually respond to them live from our new Mace number. Again, encourage everyone to sign up and test it out. And then in terms of the paid strategies, we think content is king. For years, our content has been a little bit stale on the creative side, as well as, you know, static and non-static. That is all changing. My next slide will get a little bit into that. But we think creativity and fostering a culture of user-generated content is gonna be very beneficial to not only sales, but engagement and loyalty with the brand. Here's a great example of what we did. So we put up this video with a content creator, and this creator is not a large influencer. She would actually be considered a micro-influencer. And she's in the hiking space, and she took our Magnum 3 Pepper Gel and did a video, and it broke company records for comments, likes, views, shares, you name it, we broke records. And partially, that was due to because the ban has been removed from Instagram, but it also shows the power of UGC and what that can do to our brand. So there were multiple people coming in saying, "Hey, how do I get this product? Or where do I buy it? Or, you know, is this best used in, you know, your hiking? Is it best used in your personal home defense? Can I carry it on my belt?" Our content creator, Lisa, saw it, and we saw it as well, and obviously, it translated into increased web sessions and interest in our product, which obviously, you know, is our goal, is to boost up those web sessions and get our AOV going. So toss it back to Sanjay. Thanks, Kunal. This is our fifth venture, and the background behind this is, we were looking at a double-blind survey that was conducted a few years ago by a local firm by the name of Nielsen, a sort of very well-known firm in the consumer product space. In conversations and interviews with law enforcement personnel, there were two themes that came up when it came to increasing the effectiveness of distribution of non-lethal personal safety products, and especially pepper sprays. The two themes were educate and train. People don't know much about pepper sprays, especially if they've never used it before, or they don't know anybody who's used it before, and they're afraid to use it. So we were in the midst of figuring out, you know, and hiring instructors across 25-30 cities in the United States, when an organization by the name of Legal Heat came to meet us here in Cleveland. They happened to be one of the largest firearms instructor companies in North America and owned by a company called U.S. LawShield. So since then, Legal Heat has, was sold to a different organization. And we are partners with both of them. U.S. LawShield has the infrastructure to provide training online, and Legal Heat and their affiliate entities, including one that is called Protect His House, that provides training for people who attend church and synagogue and, you know, other places of worship. So it took a while to get this program going with our partners, and in the last few months, we have landed a contract with a very large service provider that is hiring 500 people a month. They currently have 26,000 employees, and we were selected with our partners to provide pepper sprays as well as train those folks. We just recently won a much smaller contract with the transit authority in a city in the south, and we're looking at extending those types of, you know, ventures with others across other cities. One of the hallmarks of this model is that the instructors are not employed by us. We simply get a portion of the revenues. Our costs are minimal, a couple thousand bucks for social media, mostly on LinkedIn, and we get a cut from U.S. LawShield and Legal Heat. The Legal Heat partnership, the in-person, requires groups of about 35 to make the model work for Legal Heat. We have not seen any contracts with them yet, but we just launched a program to target houses of worship. The U.S. LawShield partnership is one of online training on demand, and it is two types, broadly speaking. A person who's interested in personal safety can sign up for $20, or you can have larger groups like these folks, the two contracts that we landed. The training is on demand, and the training is also offered to folks who want to become Mace-certified instructors, and we've seen quite a bit of interest in that. The idea there is to offer these instructors access to our products, and they become sort of our brand dealers. That's the idea there. So this is a very powerful concept and is certainly a good cash flow, you know, type opportunity. Yeah, so the next slide is just a visual about our online and in-person courses with U.S. LawShield and Legal Heat. Our typical organization and the decision makers that we have seen from our past two contracts is somebody in the upper management ranks that is concerned about safety of their employees. And, there is the healthcare segment is seeing a significant amount of violence and mental unrest. The Cleveland Clinic, which is just down the street from Mace, we've heard from two police officers, who are a part of the Cleveland Clinic security force, have shared with us different pieces of data about the increase in violence, mostly related to mental health. And so we are approaching the lead generation through LinkedIn and social media. We've seen a pretty decent deal flow, both from mostly from instructors, but we've seen some from civilians as well. And Kunal has interacted with a lot of females who have been interested, who have sent messages to our through our mace.com customer service. Yeah, I'll just tack on what Sanjay said. The amount of organizations across the country that have reached out with interest is truly amazing. So it shows the power of, you know, the initiative we're bringing forth and the trickle effect that... You know, we've had sororities reach out. You know, there's been some recent unfortunate events at some universities where we've, you know, stepped in to help. We've seen, you know, moms groups in California and New York reach out, you know, anti-rape organizations, really great causes. So it's a very positive amount of feedback we're getting on that front. Correction, this is the venture five, not the training. Training was venture number four. I see that we have about three to four minutes to complete the rest of the slide. So this particular device, which is called Smart Mace, is an invention by two recently graduated college students who came up with the idea about a year ago. We helped them sharpen the design. This is a location-sharing pepper spray that tells your loved ones once the spray is activated, and there's an app to subscribe to a security monitoring service, and that can then connect the call to law enforcement. There's a couple of highlights around this particular venture. Connected devices are generally new. This device will be a much higher priced item compared to your normal $15 spray. Most sprays get lost. People put it in their kitchen drawers and, you know, different bags or garage. This particular spray, the way it is designed is, once you buy the spray, you can replace the canisters. You just simply unscrew the back of the device and this. We feel that this would be very good for your suitable for very specific retailers that, you know, might see this as a technology-type device and not just as a, an impulse-type device. So this would this is very much a lifestyle type of product. It's aesthetically pleasing, and it was recently featured in the Wall Street Journal as well. This is what the visual looks like. It's a pretty neat looking device. It's got a window breaker with a keychain. This is kind of some data on the connected device and the fear of crime, just from Gallup, recently did a poll. You know, unfortunately, a lot of Americans have fear of just day-to-day tasks, right? Going to the mall or, you know, walking down the park. So we think Smart Mace, being a connected GPS-enabled device that has a great tech stack and can alert your loved ones and keep you connected, will cure a lot of people's general anxieties of, you know, just going about, you know, daily tasks. So we're optimistic about, you know, who the product serves. It's a very different demographic than our current sprays. And you know, look, over 30 million Americans carry a spray right now. The shift is everybody from an alarm, to your spray, to even your watch, they want connectivity. So, it's, you know, we're in the early stages of connected pepper spray, and a lot of people are actually unaware that your pepper spray can be connected. And I think it's a very neat idea that, your loved ones can, you know, know when you are, you know, deploying the spray, and the authorities get alerted, and it becomes a much more valuable device to carry in your purse or your backpack, or however you want to carry your spray. Thanks, Kunal. So summarizing all of this, you know, the investment thesis here, a few points that I'd like to make. There is an increasing need for personal safety. Mace Brand is the most recognizable brand, even though there are other brands that are popping up in terms of what we have seen, even with our training model, where people inquire about our training simply because of our brand name. The new ventures have provided a path to grow while our base business has stalled, and the valuation is attractive. You've seen our prior results where we've been, we've had some pretty significant losses. This chart shows the path to break even at $600,000 in monthly revenues. We had a model of $500,000, but we saw a couple of factors that affected that model to not deliver breakeven results. The three factors were smaller runs in our plant, causing efficiencies to decline because of lower sales, strategic alternative costs, and then while the retail business slowed down, we had to, we had to, increase our revenues on Amazon, and that takes selling expense, ad spend. Lastly, just to close out the conversation here, and the deck. The Mace's mission statement is to provide family and community safety, safety through individual empowerment. And as Kunal mentioned, we've partnered with several not-for-profits to advance their cause, where-... Either through just a simple partnership with our employees, for example, we've done drives for toothpaste and things like that with our neighbors, which is The City Mission, to others, where we provide training and sometimes products as well. It's just our way to live our mission. This concludes the PowerPoint presentation. We'll open it up to questions. Thank you very much for attending. Here we just have a quick slide on the NOL schedule for all of our finance fans out there, so. All right, I will stop the screen share, and I will open it up to Q&A. These are questions received prior to our presentation. The company announced signing an evergreen contract to train up to 26,000 individuals, that over the course of the agreement will generate $300,000 of revenue for Mace. How long is Evergreen? How long will it take to book the $300,000 in revenues? What of this expected $300,000 is from the sale of product, and what are the margins on such product? We expect the sale of products and the training to take place within the next 12 months. In this particular instance, this initiative was driven by people at the top, the management team. That's what the procurement folks who we were dealing with told us that this was a hot topic. In fact, it's part of an HR onboarding. The products are being sold at our regular margins, so 45%-50%. Two-thirds of that $300,000 is from products, and a third is our share of the training revenues. Another question submitted. Recently, the company announced a smaller contract for training and product to train up to 4,000 individuals of a regional transit company, which will result in approximately $24,000 in revenue. What did Mace pay in lead generation, marketing, and promotion costs to secure this deal? What has Mace spent cumulatively year to date to promote, market, and find leads for the entire training business? At what rate is the company spending per month to sustain and grow the training business? The company is spending approximately $2,000, $2,500 a month. It varies depending on ads that we will approve or not. In terms of the actual expenses, we started publicizing it about five months ago, I believe, five or six months ago, so about $2,500 a month since then. This particular lead came to us at no cost. It was a lady who was the head of safety, who called me, and when she googled you know and found our name, and then I turned it over to our sales team. They bought product last year for these employees, and they bought up pepper gels, and then we just came to an agreement on the training offering. Just to tack on to what Sanjay said, we're being very tactical in terms of where we spend our capital to obtain these leads. We're in the early innings of testing, but we think actually organic is a large opportunity, so we don't foresee a large expansion in marketing dollars going towards the training business. We find organic to be very powerful and also the cost per lead, cost per click, to be very economical. So as we work down the funnel, the efficiency should improve, making probably the ad spend, you know, a relatively small number in comparison to what we can generate on the top line. How much advertising and promotion is being allocated to the new and impressive s2 Pepper Launcher product? What has been engagement and other metrics of success on these expenditures? Yeah. Thanks, Rem. Yeah, great question. Well, engagement has been fantastic. You know, in the first 48 hours of the gun being released, our web sessions jumped by almost 40% versus the previous days in the month of April. Our customer service chatbot probably doubled. Our SMS shopping feature probably doubled, and our AOV also increased quite a bit. So engagement has been extremely high on all platforms. Even on social platforms, it's been very, very high... And we have only to date spent, we haven't spent actually any per se marketing dollars. What we've done is we've segmented out our existing database of Mace customers, and we've been targeting them with just email marketing. So we already have -- what's interesting is we have a database of existing gun purchasers on our existing 2.0 gun and our black gun, and people who buy our refill cans. We've segmented out, and we've sent them pre-release emails. We've sent our most engaged customers, we call them our golden nuggets, emails. So all of it's been heavily organic to date. You know, the gun cannot be advertised on Meta platforms, so we do not showcase it. But we do have some tactics coming up to further the organic reach, much like some of our competitors have done. Going forward, we are gonna be devoting marketing dollars towards the gun at a pretty substantial rate. Pulling dollars away from, you know, existing platforms and reallocating them towards the s2, given the engagement and given the AOV and you know, the potential, you know, TAM for the product. The company January 2024 press release on the four four four smart pepper spray device stated a formal agreement was to be finalized no later than March 29th. There has been no subsequent announcement. What is the status of this agreement and its key terms? What are Mace's obligations, and when do they occur? What are Triple4 s obligations, and when do they occur? When will this smart pepper spray device be ready? And has Triple4s licensed the key patents for this product? The Triple Four inventors were here yesterday to execute the agreement. We had announced an extension, and when we were not able to meet the March deadline, we are right in the middle of implementing our project timeline to get this product in the hands of consumers in the next 90 days, and the relationship is one of Mace will be responsible for the manufacturing piece and the marketing piece. The inventors will also be involved in marketing the device, and the product will first be available online. But we will be marketing it to retailers that are technology-oriented, and, you know, retailers like Best Buy, for example. The company has in the past noted how efficient Mace's digital promotion is and how high of a ROAS Mace has generated with Amazon and mace.com channels. The company noted a sizable near-term opportunity for the s2 pepper spray launcher. Why shouldn't Mace redeploy the money spent on the training business' lead generation and marketing and promotion costs, which only represent a long-term possible revenue generator via ancillary product sales into more efficient and higher ROAS spend to generate near-term direct sales of both the s2 launcher and Mace's excess inventory and thereby reduce Mace's very costly inventory loans? Ad spend is looked at daily between Kunal, Kunal and I, whether it's this budget or anything that we are spending on with our outside agencies. So we will look at deploying funds to the s2 launcher from our current ad budget. Yeah, I would just tack on there that year to date, our marketing efficiency ratio has improved. So look, we're monitoring this budget every week and seeing where are we getting the most productive use of every dollar. Where can every dollar be spent to produce, you know, $2 of sales, right? So valid question. s2 has a little bit of a different marketing approach. Without giving away the secret sauce of what we're doing in the weeks to come, we're launching kind of a new marketing tactic that is costing us $0. And we're extremely. I mean, I've tested it, and I've told Sanjay, "Hey, listen, this is very, very encouraging." So it's, you know, kind of balancing where how do you allocate dollars within the company? What we've done very effectively, I will say, is we've stripped out a lot of overhead in our marketing. So, you know, the dollar is being maximized versus being spread thin across, you know, you know, marketing COGS, agency COGS, and, you know, things that, you know, do not immediately impact our bottom line. So we're laser focused on making sure that, you know, every dollar is being, you know, accounted for and tracked. And, you know, the new culture we're implementing is that if the idea doesn't work, we kill it. It's done, and we pivot, and we move on. We're not gonna sit here and burn, you know, our cash and, you know, not get a return. So every dollar that's going out is being measured pretty, pretty closely by Sanjay and I. Okay, we are now at 10:31 A.M. I would like to thank everyone for their questions and for their time and interest in our presentation. A huge thank you from Kunal, Ram, and I on behalf of Mace. Thank you, everyone.