Latest / The Dan Show / We Beat Amazon by 4 Days. Here's What That Means | John Ritchison

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We Beat Amazon by 4 Days. Here's What That Means | John Ritchison · The Dan Show

• 0:00
  John Ritchison: You know, I've told you many times that licensing is going to be a big thing for us.
• 0:05
  John Ritchison: And right now, the Ariya Point international side is ready.
• 0:09
  John Ritchison: It's ripe.
• 0:10
  John Ritchison: It's ready to go.
• 0:11
  John Ritchison: India's ready.
• 0:13
  John Ritchison: Japan's ready.
• 0:14
  John Ritchison: Australia's ready.
• 0:15
  John Ritchison: They're all taken off.
• 0:17
  John Ritchison: We just got our first patent approved with uh the European Union.
• 0:21
  John Ritchison: But it takes money, it takes working capital, it takes resources more than working capital.
• 0:27
  John Ritchison: It takes people on the ground.
• 0:29
  John Ritchison: There are people, there are companies out there willing to license our patents, take that and then put it into their country.
• 0:37
  John Ritchison: For example, take it off in Dubai, take it off in Saudi Arabia, take it off in, like I mentioned, India.
• 0:44
  John Ritchison: We've taken off, we've got enough patents now to offer a lot of stuff to uh several companies overseas.
• 0:51
  John Ritchison: I envision that someday you're going to have millions of arrive points, or somebody that's trying to make an arrive point around the United States.
• 1:10
  Dan O'Toole: Appreciate you joining.
• 1:11
  Dan O'Toole: Thanks for being with us.
• 1:12
  Dan O'Toole: Stay tuned for later on in the episode.
• 1:15
  Dan O'Toole: I'm going to be introducing John Richeson, our chief legal counsel, our patent attorney, all around good guy.
• 1:22
  Dan O'Toole: And hopefully he'll look better next week.
• 1:24
  Dan O'Toole: That's an inside joke.
• 1:25
  Dan O'Toole: But just to kind of get going here, I want to kind of start out and say here at ArriveAI, we spend every dollar like it's our last.
• 1:31
  Dan O'Toole: I don't care if we have a billion dollars in the bank or a million or whatever it is.
• 1:35
  Dan O'Toole: Uh, you know, we're always judicious and uh great fiduciaries for how we're spending money.
• 1:41
  Dan O'Toole: Everything that comes in is always linear to development.
• 1:44
  Dan O'Toole: And uh, you may have seen um a press release earlier in the week that we announced um the departure of about 10 of our folks here.
• 1:51
  Dan O'Toole: You know, I always have this mantra, I hire to retire, not to fire.
• 1:56
  Dan O'Toole: And, you know, to me, I always look at great companies, and the hallmark of a great company has always been longevity of employment, uh, not just hiring people to flex up, get rid of them, you know, not worry about them or their family.
• 2:10
  Dan O'Toole: When we had to make these tough choices, that was really hard.
• 2:12
  Dan O'Toole: Uh, one thing I've said throughout my career is when you have to let somebody go, it's as hard to be the guy letting them go as it is to be the person being let go.
• 2:21
  Dan O'Toole: And that's certainly true with these last uh departures.
• 2:25
  Dan O'Toole: You know, we're a growing company, we're going uh vertical and all that.
• 2:29
  Dan O'Toole: But, you know, with the way we hired, you know, we went from six people to nearly 60 people in a short period of time.
• 2:36
  Dan O'Toole: And to put that roadmap together and to be 100% accurate on that is really impossible.
• 2:42
  Dan O'Toole: It's not an exact science.
• 2:44
  Dan O'Toole: And we hired everybody initially write it once, which was kind of hard to digest, but we wanted everyone to go through the learning curve at the same time to accelerate um development.
• 2:55
  Dan O'Toole: And so that was the strategy.
• 2:56
  Dan O'Toole: And as we came through that curve, you know, it it became clear that that we were misaligned on a few opportunities, as well as um obviously trying to save run burn rate and runway and all those things.
• 3:09
  Dan O'Toole: So those all aligned, and they kind of put us in a point where we had to make the tough decisions.
• 3:14
  Dan O'Toole: I just wanted to acknowledge that first um here today.
• 3:17
  Dan O'Toole: Another thing that happened this week was we announced uh our Streeterville capitalization deal.
• 3:23
  Dan O'Toole: When we did the deal a year, a little over a year ago, it had what was called a 25 cent floor, which meant if our shares traded below 25 cents, uh, we would be um in a position where they could call uh some mandatory payments from us, uh, nearly a million dollars a month.
• 3:42
  Dan O'Toole: And as we got to that point where we fell below 25 cents for a little bit, um I was able to reach out to John Fife, who's the principal at Streeterville Capital, great guy.
• 3:52
  Dan O'Toole: Uh, you know, he's been our cap capital partner since we started.
• 3:56
  Dan O'Toole: And I asked him if he would uh lower that floor from 25 cents to 10 cents.
• 4:01
  Dan O'Toole: Uh and he he did that without any um hesitation.
• 4:06
  Dan O'Toole: And that meant a lot to me because uh obviously we don't want to be uh having to come up with a million dollar, nearly a million dollar month in payments at this moment while we're growing and trying to preserve all of our capital for the growth.
• 4:19
  Dan O'Toole: So we're able to get that accomplished.
• 4:21
  Dan O'Toole: I appreciate that, John.
• 4:22
  Dan O'Toole: And uh onward and upward.
• 4:24
  Dan O'Toole: So last week we announced uh Pius Fadkey as our new CFO.
• 4:29
  Dan O'Toole: We're gonna have him on a future episode, uh, probably in the next week or so.
• 4:33
  Dan O'Toole: Great guy, really hit the ground running.
• 4:35
  Dan O'Toole: You know, when you're navigating the capital markets for a public company, you're worried about compliance, uh, you know, keeping runway on the balance sheet, filings, uh audits, all these, it's a bunch of moving parts.
• 4:49
  Dan O'Toole: And you know, we're very fortunate to be able to find uh uh Push to join us as he has all that experience.
• 4:56
  Dan O'Toole: We're able to really hit the ground running and not miss a beat.
• 4:59
  Dan O'Toole: And that's very important.
• 5:00
  Dan O'Toole: So to have the stars online and be able to identify him, make an offer to him and have him accept it and and join so quickly is really unheard of.
• 5:08
  Dan O'Toole: So uh again, a shout out to Adele at Alliance Advisor.
• 5:13
  Dan O'Toole: She was the one that introduced us, so we really appreciate that.
• 5:16
  Dan O'Toole: This is just kind of a a fun anecdotal story.
• 5:20
  Dan O'Toole: Uh, a lot of you may have seen the Amazon uh drone delivery to kind of a bathing pool or uh a little pool uh at somebody's house.
• 5:30
  Dan O'Toole: And uh I came up with this um kind of a tagline.
• 5:34
  Dan O'Toole: Uh autonomy needs an address.
• 5:36
  Dan O'Toole: And that's us.
• 5:37
  Dan O'Toole: I think every day we're seeing these different proof points out there that really showcase the need for the infrastructure in the autonomous delivery ecosystem.
• 5:46
  Dan O'Toole: And I think that that's gone viral right now.
• 5:48
  Dan O'Toole: I think it's it's a great uh moment to speak about, you know, everything that's great about autonomous delivery ends at the yard or at the pool.
• 5:57
  Dan O'Toole: Uh so you know, arrive points.
• 5:59
  Dan O'Toole: We want to be out there uh working with Amazon.
• 6:02
  Dan O'Toole: If you're watching Amazon or if any of our shareholders or friends know anybody at Amazon that wants to make an intro, uh, I think we could bring a lot of value.
• 6:10
  Dan O'Toole: So uh consider that.
• 6:12
  Dan O'Toole: And uh thanks for that.
• 6:13
  Dan O'Toole: We are having an investor day to be determined on the date.
• 6:18
  Dan O'Toole: It's gonna be uh at our home office here in uh Fishers, Indiana.
• 6:22
  Dan O'Toole: Uh, and we're gonna have investors from all over the world uh join us on site.
• 6:26
  Dan O'Toole: We're gonna be doing some cool uh, you know, use cases and and demonstrations and uh just uh sharing the arrive AI story to to some large investors.
• 6:37
  Dan O'Toole: So we're excited about that.
• 6:38
  Dan O'Toole: Stay tuned for updates on that.
• 6:40
  Dan O'Toole: That'll be in September sometime.
• 6:41
  Dan O'Toole: Okay, another thing that I you know I note is uh some things that are near and dear to our our shareholders and we care.
• 6:49
  Dan O'Toole: Uh um a reverse split.
• 6:51
  Dan O'Toole: I see a lot of uh you know dialogue and hear about a lot of stuff about that.
• 6:56
  Dan O'Toole: What I want to say is a reverse split maybe in the future, but it's not inevitable.
• 7:02
  Dan O'Toole: And I'm not trying to downplay it.
• 7:04
  Dan O'Toole: I don't want to do a reverse split any more than any of you do.
• 7:07
  Dan O'Toole: I like to split the other way.
• 7:09
  Dan O'Toole: I like to get uh 10 for one where one share becomes 10, not 10 becoming one.
• 7:15
  Dan O'Toole: And you know, if you look at the trajectory of the company, we were the first company in in uh crowdfunding history, I believe, to do a a split, two for one split while we were uh raising through crowdfunding.
• 7:27
  Dan O'Toole: And that's how I like to do things.
• 7:30
  Dan O'Toole: That's the fun of investing, right?
• 7:32
  Dan O'Toole: Uh the perceived value of having more shares.
• 7:34
  Dan O'Toole: So that's how I'm operating this company.
• 7:36
  Dan O'Toole: Having said that, we did do a reverse split when we went public.
• 7:41
  Dan O'Toole: It wasn't for any reason other than our share price uh needed to be trading at a threshold that was commensurate with the uh compliance to be on the NASDAQ.
• 7:51
  Dan O'Toole: And you know, I would say share price really doesn't have really anything to do with the underlying value of the company.
• 7:57
  Dan O'Toole: I mean, if you look at Ford Motor Company, it's trading in the teens and it's a huge company.
• 8:02
  Dan O'Toole: Uh, then you might have other companies that are trading in the hundreds that may not be worth nearly as much as Ford.
• 8:09
  Dan O'Toole: It's all over the board.
• 8:10
  Dan O'Toole: Um, so I don't want to do a reverse split.
• 8:12
  Dan O'Toole: That doesn't mean we're not gonna do one.
• 8:14
  Dan O'Toole: My goal is that we can organically get up over a dollar for this business.
• 8:19
  Dan O'Toole: Uh, you know, we're getting a lot of traction right now, and uh I'm holding on as tight as I can as long as I can.
• 8:25
  Dan O'Toole: So stay tuned.
• 8:26
  Dan O'Toole: If it is gonna happen, you're gonna hear it here first.
• 8:29
  Dan O'Toole: Uh, I'm holding the line right now.
• 8:30
  Dan O'Toole: I'm not rolling over on that.
• 8:32
  Dan O'Toole: Share price obviously is it kind of goes hand in hand.
• 8:35
  Dan O'Toole: You do a reverse split to get your share price up.
• 8:38
  Dan O'Toole: I want to get our share price up organically.
• 8:40
  Dan O'Toole: Uh, I think we have some big things that we're hoping to share with the market at some point here.
• 8:46
  Dan O'Toole: Uh, and uh and I think there'll be a lot of excitement around them.
• 8:50
  Dan O'Toole: Uh another thing I would say is, you know, as much as we want to share everything, you know, any opportunities that we're doing are typically with a lot larger companies than we are.
• 8:58
  Dan O'Toole: And they're kind of driving the train on what we can say and what we can't say.
• 9:02
  Dan O'Toole: You know, obviously it's in our interest to share, you know, we're giddy to tell you every opportunity and who these players are.
• 9:09
  Dan O'Toole: We think that adds credibility and that's exciting for all of us and all of you.
• 9:12
  Dan O'Toole: Uh, but we're mandated to not be able to talk about these things.
• 9:16
  Dan O'Toole: So sometimes I see, you know, make an announcement, you know, whatever.
• 9:20
  Dan O'Toole: I want to announce things as quick as I can.
• 9:22
  Dan O'Toole: And I really want them to be great announcements.
• 9:24
  Dan O'Toole: My promise to you is you're always going to hear, you know, I'll say it this way, you may not always like what you hear, but it's always gonna be the truth.
• 9:30
  Dan O'Toole: Hopefully you're gonna love it because the truth can be great too.
• 9:34
  Dan O'Toole: But, you know, we've been through a lot, you know, when you're navigating the public markets, you're executing every day with a brand new product in an emerging industry that's brand new.
• 9:43
  Dan O'Toole: There's a lot of moving parts there that uh you can control and a lot that you can't.
• 9:48
  Dan O'Toole: And I just want to, this is always so refreshing to me in this world that we're living in today.
• 9:53
  Dan O'Toole: It's so polarized.
• 9:54
  Dan O'Toole: I I can honestly say, and I I'm hoping not to jinx myself, but I don't have people calling and cussing me out, threatening me any of that.
• 10:02
  Dan O'Toole: I have pure support like you would never imagine.
• 10:05
  Dan O'Toole: And it's so touching and humbling to me.
• 10:07
  Dan O'Toole: Um, I can't even tell you because you, you know, people are so genuine, so supportive.
• 10:13
  Dan O'Toole: They put us ahead of themselves, and that's not what we do here.
• 10:16
  Dan O'Toole: We we're putting you ahead of ourselves.
• 10:18
  Dan O'Toole: And uh, I just want you to know how much that means.
• 10:20
  Dan O'Toole: I'll never take that for granted.
• 10:22
  Dan O'Toole: And uh, you know, thanks for being there.
• 10:24
  Dan O'Toole: And I hope uh we can sh share back with you and show you what we intended to do the whole time, and we're gonna get there.
• 10:31
  Dan O'Toole: So thanks a lot, Arrive AI.
• 10:33
  Dan O'Toole: Tell your friends, your coworkers, your family.
• 10:35
  Dan O'Toole: Yeah, we we need all the love we can get.
• 10:37
  Dan O'Toole: Uh, let's get this thing back up.
• 10:39
  Dan O'Toole: Okay, and now what I want to do is bring in employee number zero, uh, which means nothing.
• 10:44
  Dan O'Toole: John Richison, our chief legal counsel, our patent attorney, and uh our big toe.
• 10:51
  Dan O'Toole: That's a reference to the movie Stripes, Sergeant Hulker.
• 10:55
  Dan O'Toole: Look it up.
• 10:55
  Dan O'Toole: But John, come on in here, man.
• 10:57
  Dan O'Toole: Hey, joining me now, John Richeson, not Richardson.
• 11:02
  Dan O'Toole: John Richison, that's good, employee number zero.
• 11:05
  Dan O'Toole: Zero.
• 11:06
  Dan O'Toole: Right?
• 11:06
  Dan O'Toole: I'm zero.
• 11:07
  Dan O'Toole: Nero is always number one, but what comes before one?
• 11:10
  Dan O'Toole: Yep.
• 11:11
  Dan O'Toole: Nothing.
• 11:11
  Dan O'Toole: Zero.
• 11:12
  Dan O'Toole: Right?
• 11:13
  Dan O'Toole: That's that's correct.
• 11:14
  Dan O'Toole: John, why don't you tell the OG story of how we how we got going here and the IP and how we met and all that?
• 11:22
  Dan O'Toole: You want to talk about oh man.
• 11:24
  Speaker: As late 2014, you came back to my office.
• 11:29
  Speaker: Uh, I was a patent lawyer, so am.
• 11:31
  Speaker: And uh you had an idea.
• 11:34
  Speaker: And you went through your idea, the first drone deck that was going to be receiving packages from drones.
• 11:42
  Speaker: And you went through the whole thing and you were excited.
• 11:45
  Speaker: I like the idea, but I told you the same thing I told most of my clients back then.
• 11:52
  Speaker: It's interesting.
• 11:53
  Speaker: That's an interesting idea.
• 11:55
  Speaker: Yeah.
• 11:55
  Speaker: And I kind of held back, but the reason I hold back is I don't want to get too excited until I see what's out there.
• 12:03
  Speaker: I do a brief search and try and find out is this really a good idea?
• 12:08
  Speaker: Is this something different?
• 12:10
  Speaker: And after that, I did.
• 12:12
  Speaker: I went out, checked it out, and found out it's more than an interesting idea.
• 12:18
  Speaker: It becomes a very exciting idea.
• 12:20
  Speaker: That's when I get excited for the client.
• 12:22
  Dan O'Toole: But also, this was this is really quick, too, right?
• 12:25
  Dan O'Toole: Because I was on the way back from your office and you called me.
• 12:28
  Speaker: And I called you up and I said, Hey, Dan, this is this is really something.
• 12:32
  Speaker: There's nothing out there like this.
• 12:34
  Speaker: It's probably a chance to have something totally new, new field.
• 12:40
  Speaker: Um, and we're gonna make history.
• 12:43
  Speaker: And that's when we started in.
• 12:45
  Speaker: As it turned out, as we went forward, we beat quite a few people.
• 12:49
  Speaker: I know you know all these dates, but we beat Amazon by four or five days.
• 12:54
  Speaker: We beat UPS, we beat FedEx, we beat a whole lot of folks, plus several folks that uh eventually try to become competitors, right?
• 13:03
  Speaker: So and and here we are.
• 13:05
  Speaker: So interesting becomes exciting.
• 13:07
  Speaker: There you go.
• 13:08
  Dan O'Toole: That's uh I like that.
• 13:09
  Dan O'Toole: That's that could be uh that can be a uh episode or something.
• 13:14
  Dan O'Toole: Yeah, right.
• 13:14
  Dan O'Toole: Let's talk about IP here at Arrive AI.
• 13:17
  Dan O'Toole: Uh, you know, I think the IP is foundational, don't you agree?
• 13:22
  Speaker: Oh, absolutely, especially in the early days coming together uh before you get a lot of revenue, um, how strong you're gonna be means a lot to everybody out there.
• 13:33
  Speaker: And I think, you know, I'm biased because I've been involved since day one.
• 13:37
  Speaker: I believe that we've got the kind of IP that's gonna be foundational for the for the whole industry.
• 13:43
  Speaker: We got in early, so we've got a first position.
• 13:47
  Speaker: We beat a lot of folks, but we also got in with quite a few things.
• 13:52
  Speaker: If you remember when you first came to me, you had a you had a list of claims and ideas that you were putting together, and I thought, holy mackerel, this is this is crazy because we got, you know, that's what my mom said.
• 14:07
  Speaker: Yeah.
• 14:08
  Speaker: But the further we went with it, the more we started putting, you know, meat on the bone, so to speak, and and took those claims and made them into something.
• 14:17
  Dan O'Toole: Talk about that strategy.
• 14:18
  Dan O'Toole: You're you're an old school patent attorney, you know how to preserve life cycle, patent life cycle, right?
• 14:24
  Dan O'Toole: Yeah, what embodiment.
• 14:26
  Speaker: The one thing about life cycle is he may have a great idea.
• 14:30
  Speaker: Ultimately, it gets a patent, it's gonna have 20-year lifespan.
• 14:35
  Speaker: But as you improve onto that idea, you get another patent and another patent and another patent.
• 14:43
  Speaker: And so you keep increasing it out.
• 14:45
  Speaker: We've got probably, I'm right at 35 years worth of lifespan now.
• 14:51
  Speaker: And so the original 20 has been expanded out.
• 14:54
  Speaker: So every time we come up with a new idea and a new patent, then that gives us a chance to move our spread our life cycle, so to speak.
• 15:04
  Speaker: How many patent claims do we have, do you know?
• 15:06
  Speaker: Oh, we're over close to 200 patent claims.
• 15:10
  Speaker: We've got 10 U.S.
• 15:12
  Speaker: patents.
• 15:13
  Speaker: We've got another bunch in the hopper, so to speak, but we've got 10 U.S.
• 15:17
  Speaker: patents.
• 15:18
  Speaker: We now have um, I think 21 international patents.
• 15:22
  Speaker: Granted.
• 15:22
  Speaker: Granted.
• 15:23
  Speaker: And so um we're we're in place not only here in the States, but uh overseas.
• 15:29
  Speaker: And so as we look at that um and get back to trying to expand and and push out what we've got.
• 15:37
  Speaker: In addition to all those, uh, we've got another, what I call in the hopper, we've got another 1819 that are in the hopper.
• 15:45
  Speaker: We just uh finished up our latest patent application with the aha, which is basically yeah, the aha.
• 15:54
  Dan O'Toole: Yeah, but our next product is gonna be the yiha, right?
• 15:56
  Dan O'Toole: Yeah, the yiha.
• 15:57
  Dan O'Toole: So what what's the aha?
• 15:59
  Dan O'Toole: Can we find that?
• 16:00
  Speaker: The aha is a uh a transfer from a AMR uh robot, if you will, in to a uh container.
• 16:08
  Speaker: To an arrive point.
• 16:09
  Speaker: And to an arrive point, and it as it comes to the arrive point, it could it could also transfer between uh robots, so to speak.
• 16:18
  Speaker: So the aha is uh is a step that we didn't hadn't originally anticipated, but I've got to also say at this point, you know, we got 25 engineers out there that are coming up with stuff that you and I originally didn't didn't anticipate.
• 16:35
  Speaker: So we just keep bringing so the newer things on.
• 16:38
  Dan O'Toole: Let's talk a little bit more about that.
• 16:39
  Dan O'Toole: So, like if if you've got a robot that's enabled to interact with an arrive point, that's one thing, right?
• 16:45
  Dan O'Toole: But if you don't have that, you get this little utility, this aha or the aha, right?
• 16:51
  Dan O'Toole: Right.
• 16:51
  Dan O'Toole: That facilitates the interaction when you're not set up from the factory that way.
• 16:57
  Speaker: Yeah, if you if you think about it, what we had before, what's out there now for a lot of people is you've got this robot coming up, bringing you whatever, bringing you mail, bringing you a package, bringing you food.
• 17:09
  Speaker: And as it brings it up here, what's it do with it?
• 17:12
  Speaker: Well, a person has to take it and you know do something with it.
• 17:17
  Dan O'Toole: Right.
• 17:18
  Speaker: With the aha, you've got the ability to bring the same package up to the uh receptacle, the arrive point, the smart mailbox, like some people call.
• 17:28
  Speaker: And once it brings the package up, it transfers it in.
• 17:32
  Speaker: The conveyor goes back in with the robot, it takes off.
• 17:36
  Speaker: So you can still protect your package, you deliver the package, nobody's there.
• 17:41
  Dan O'Toole: The big opportunity, it even extends beyond arrive, right?
• 17:44
  Dan O'Toole: Even if even if you don't have an arrive point, you can still use that.
• 17:47
  Dan O'Toole: It's a standalone product, right?
• 17:49
  Speaker: Sure.
• 17:49
  Speaker: And we've got we all know that um the robots, the AMRs are coming on fast.
• 17:55
  Dan O'Toole: Right.
• 17:55
  Speaker: Um humanoids, right?
• 17:58
  Dan O'Toole: Everybody.
• 17:58
  Speaker: Any kind of any kind of the thing that that's going to bring the package or arrive point's gonna be able to handle.
• 18:04
  Speaker: So we've got the ability to handle, of course, the couriers can come up to it and drop things off.
• 18:10
  Speaker: You get the ability for the robots to drop it off, and we've got the ability for the now with the uh drones also.
• 18:17
  Dan O'Toole: That's awesome.
• 18:17
  Dan O'Toole: Yeah, I'm excited.
• 18:18
  Dan O'Toole: What what other new IP IP do we have coming down the pike here?
• 18:22
  Dan O'Toole: RFID?
• 18:23
  Speaker: There's an RFID, which uh the best way to explain that is it it really takes individual packages.
• 18:30
  Speaker: You know exactly what you've got.
• 18:32
  Speaker: The arrive point that has multi-use is not only many, many different packages, but it could also you know serve many different users.
• 18:40
  Speaker: So many compartments, right?
• 18:42
  Speaker: Many compartments.
• 18:43
  Speaker: So if you're in a you could be in a commercial setting where you've got several businesses, you could be in like uh, I think they call it the villages.
• 18:51
  Speaker: Gee, I hope that's not trademarks.
• 18:53
  Speaker: All right.
• 18:53
  Speaker: Right.
• 18:54
  Speaker: But anyway, the villages have lots of people.
• 18:56
  Speaker: They've all they all get packages.
• 18:58
  Speaker: You've got a central point where the robots can drop off the the packages at one location.
• 19:04
  Speaker: The RFID allows us to communicate what package is coming for what person, what time it got there, what time they can pick it up.
• 19:13
  Dan O'Toole: So the arrive point can sense that, right?
• 19:15
  Dan O'Toole: They can open the door automatically just sure when you're approaching.
• 19:18
  Dan O'Toole: Yeah, you don't have to do anything.
• 19:19
  Dan O'Toole: That's pretty amazing.
• 19:20
  Speaker: You don't have to have a person there.
• 19:21
  Speaker: It's it's uh without without people.
• 19:25
  Dan O'Toole: Everyone knows that we've got arrive points, we've got all the IP around that, but I don't think a lot of people realize the winch patent that we have.
• 19:32
  Dan O'Toole: And you know, drone delivery is happening out there, right?
• 19:35
  Dan O'Toole: And the majority of the drones are raising and lowering with a winch, but we have that patent, right?
• 19:41
  Speaker: Sure, we've got the winch patent uh simplified.
• 19:44
  Speaker: What's the winch do?
• 19:46
  Speaker: It allows a a uh package delivery with a drone and it controls the delivery much, much better than anything else out there.
• 19:55
  Speaker: So instead of a drone coming in and and waving the package and eventually getting it into the drone receptacle, um our winch allows us to lock it in, bring it down, and and have a much better uh delivery position.
• 20:10
  Dan O'Toole: So yeah, I think that's exciting.
• 20:12
  Dan O'Toole: That's kind of a hidden gem, don't you think?
• 20:14
  Speaker: Yeah, we didn't when we uh obtained that, and that's one we obtained through a an acquisition.
• 20:21
  Speaker: Um, we didn't realize they actually had that with the other things we uh acquired at the time.
• 20:28
  Speaker: So that was a that was a good ad.
• 20:29
  Speaker: That was a good bonus, yeah.
• 20:31
  Dan O'Toole: Yeah.
• 20:31
  Dan O'Toole: So what all give us some other uh nuggets?
• 20:34
  Dan O'Toole: What about licensing uh RIP both in the US and internationally?
• 20:39
  Dan O'Toole: What's the what are your thoughts?
• 20:40
  Speaker: I keep I keep telling folks, you know, I've told you many times that licensing is going to be a big thing for us.
• 20:48
  Speaker: Um I envision that someday you're gonna have millions of arrive points, or somebody that's trying to make an arrive point around the United States.
• 20:59
  Speaker: But more important, right now, the arrive point international side is ready, it's ripe, it's ready to go.
• 21:07
  Speaker: India's ready, Japan's ready, Australia is ready, they're all taken off.
• 21:12
  Speaker: Um, we just got our first patent approved with uh the European Union.
• 21:17
  Speaker: You know, we we had England or the UK and just got the European Union on one of our patents.
• 21:23
  Speaker: So all those are ready to go, but it takes money, it takes working capital, it takes resources more than working capital, it takes people on the ground.
• 21:34
  Speaker: There are people, there are companies out there willing to license our patents, um, take that and then put it into their country.
• 21:43
  Speaker: For example, uh taken off in Dubai, taken off in Saudi Arabia, taken off in, like I mentioned, India.
• 21:50
  Speaker: The nice thing about us is obviously we're a new company here.
• 21:54
  Speaker: Sometimes our uh working capital is limited.
• 21:58
  Speaker: We have to pick and choose what we do, and by licensing, we can also get additional um revenue.
• 22:05
  Speaker: It's a big source of revenue if we do it right.
• 22:08
  Speaker: And we've we've taken off, we've got enough patents now to offer a lot of stuff to uh several companies overseas.
• 22:15
  Speaker: That's awesome.
• 22:17
  Dan O'Toole: Hey, man, thanks for being on here.
• 22:18
  Dan O'Toole: Thanks for being the employee number zero.
• 22:21
  Dan O'Toole: Never forget you, man.
• 22:22
  Dan O'Toole: Yeah, all right.
• 22:23
  Dan O'Toole: Let's we're in this together.
• 22:24
  Dan O'Toole: Let's for sure.
• 22:25
  Dan O'Toole: Yeah, that's right, man.
• 22:26
  Dan O'Toole: Onward now, we got our brightest days are ahead, don't you think?
• 22:29
  Dan O'Toole: Absolutely.
• 22:29
  Dan O'Toole: I mean, the amount of patent work that you're getting.
• 22:31
  Dan O'Toole: Ask me the one question.
• 22:33
  Dan O'Toole: Wait, I didn't I knew you were gonna bring it up, so I didn't have to.
• 22:36
  Dan O'Toole: Yeah, what was it?
• 22:37
  Speaker: I can't wait until tomorrow.
• 22:39
  Speaker: Why is that?
• 22:40
  Speaker: Because I get better looking every day.
• 22:42
  Speaker: No, man.
• 22:42
  Dan O'Toole: Well, you better jump ahead.
• 22:44
  Dan O'Toole: You know who that is, right?
• 22:45
  Speaker: You better jump ahead the next one, man.
• 22:46
  Speaker: That's Joe Namath.
• 22:47
  Speaker: That's back.
• 22:47
  Speaker: Okay, yeah.
• 22:48
  Speaker: I when football was a contact sport.
• 22:51
  Dan O'Toole: Does anybody know who Joe Namath is anymore?
• 22:53
  Dan O'Toole: No, I'm just kidding.
• 22:53
  Dan O'Toole: He's way back.
• 22:54
  Dan O'Toole: No, hey, we remember though.
• 22:55
  Dan O'Toole: No, hey, thanks, man.
• 22:56
  Dan O'Toole: Have a good week.
• 22:57
  Dan O'Toole: John, thanks.
• 22:58
  Dan O'Toole: We'll see you.
• 22:58
  Dan O'Toole: Go do your go do some patent work, man.
• 23:01
  Dan O'Toole: Absolutely.
• 23:01
  Dan O'Toole: Yeah, don't forget those trademarks.
• 23:03
  Dan O'Toole: Yeah, okay.