Welcome to the Pressure BioSciences Investor Call to discuss the recent Uncle Bud’s acquisition and other opportunities. At this time, all participants are in a listen-only mode. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note, this conference is being recorded. I will now turn the conference over to your host, Richard Schumacher, President and CEO. You may begin.
Thank you, John. Appreciate, and appreciate everybody joining us today. We're excited to introduce some new voices. We have two familiar voices, Jeff Peterson or actually three, myself, CEO and Founder, Jeff Peterson, our Chairman of the Board, and John Hollister, who is our Head of Sales and Marketing. We also have Bruno Schiavi. Bruno is the President of our new subsidiary, Uncle Bud's Health and Wellness, and Garrett Greller, Garrett was one of the co-founders with Bruno, who heads up marketing at Uncle Bud's. We're gonna hear from everybody in just a few minutes, but as always, I need to read a cautionary statement.
The following remarks that we may have in this conference call may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, among others, those detailed from time to time in the company's filings with the Securities and Exchange Commission. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions, or circumstances on which such statements are based.
So we're here today not for our normal quarterly or yearly call, because we're gonna talk about the acquisition of Uncle Bud's. We're gonna talk about how I like to say 1 + 1 is gonna equal 10 in this case. We're also gonna talk about our move. We've talked about this for over a year, but we literally are moving this week to a new facility, which is gonna change our lives. It's gonna change the company for the better. We're gonna talk about some new products that we're working on and some areas that we can get into. We're gonna hear from Bruno and Garrett, in particular, about Uncle Bud's. But before we do, I'm gonna ask Bruno, and we'll keep it short, but these guys are terrific.
They've got terrific background. They've got a terrific story. So Bruno, if you could kindly just, give everybody a short, synopsis of your background, I'd appreciate it.
Thank you, Ric, and thanks, everybody. We're super excited to be part of PBIO, and Garrett and I have been looking forward to this day because we've got some amazing, amazing things lined up. I've personally been in retail for about 25 years. I've launched many brands, a lot of them that you've probably heard before, and generated billions of dollars in retail sales with the various brands that I've launched over the last 25 years. Really excited to jump into this new venture and really expand what we've already achieved with Uncle Bud's. We've worked really hard to build a brand that's a community, a brand that is recognized, and our logo has always been, you know, about family values and a trusted family formula.
So we're super excited to be working with Ric and everybody at Pressure BioSciences, and, looking forward to showing you some great results over the next 12 months.
Awesome. Thanks, Bruno. Now, Garrett, maybe a little background from you as a co-founder of Uncle Bud's and a little bit about where you wanna take it, because we're gonna spend more time in just a few minutes about that.
Of course, and thanks for the intro, and we're Bruno and I are both looking forward to being on the PBIO team. Just a quick background about myself and why Uncle Bud's was started. I was diagnosed with arthritis when I was 14 years old and wanted to create a more natural solution, and Uncle Bud's was all started originally with one amazing pain relief product, and we've grown the brand from that one product to around 70 different products within hemp, CBD, and just normal cosmetic space. We've really become a leader within this category and the trusted brand, as Bruno said, due to our affordable price points and what people come to us for trusted and quality formulas.
We're excited to be partnered with PBIO to continue to create high-quality products and bring them to market, and tap into our community of around 800,000 people across social media and email. We're looking forward to what we can do to keep growing this brand.
Thanks, Garrett. So, John Hollister, very briefly, because you've been on the call before, maybe you could remind everybody of your role here at PBIO, a little bit about your background.
Yeah, sure. So I'm primarily focused on our traditional technologies, PCT, BaroFold, and the commercialization of UST. I'm a 30-plus year veteran, although I will deny that number. Starting in big pharma and then in biotech, for big brand names, and got the pleasure of launching big products. But the last 20 years have been in roles with startup companies. I've seen the big companies and the small companies all in healthcare, and I'm very excited about the Uncle Bud's team, because they are out there doing it, particularly through social media channels, and have developed quite the brand. Very exciting.
Thanks, John.
Thank you.
Jeff? Jeff Peterson.
Sure. It's great to be back with everybody again today. In terms of my background, you know, 18 years living overseas in the Middle East, Europe and Africa. Educated at MIT, picked up a couple of chemical engineering degrees, career in engineered materials, businesses in General Electric, a career in Abbott Laboratories, initially in diagnostics and then running all of Abbott's businesses for Sub-Saharan Africa. I've been involved as an entrepreneur since the late 1990s and started up a couple of companies out here in California in the proteomics and high-performance computing space. Got involved with Pressure BioSciences as an enabling technology for us in the early 2000s. Been on the Board, chairing the Board for, I don't know, close to 12 years now. And very involved in the entrepreneurial community.
I've helped a number of companies, chaired another public company in the medical imaging space, working in the diabetes space, as well as with the companies that I started here.
Awesome.
And Ric, I actually have a very special guest, by the way. This is Bruno Schiavi. I've got a very special guest, one of our brand partners. She's been with us from the very beginning of the Uncle Bud's journey, and she's the one and only Toni Braxton. And I know she wants to say a few words while we're on the phone today.
Oh, thank you. Welcome, Toni. Wonderful.
I'm not hearing anything yet.
Hey, guys. Hi, everyone. Can you hear me? I'm so sorry. My chunky cheek hit the phone on, and put it on mute for you today. Happy Monday. Happy Monday.
We do hear you.
We hear you fine.
Can you hear me now?
Yes.
This is fantastic. You know, I got to tell you, I was so thrilled and excited to learn about the merger. You all know I'm a part of the Uncle Bud's family. But not only am I a member of the family, I'm also a customer. I'm a client, and it's a product that I believe in. I know you guys know I have lupus, and that this product has helped improve the quality of my life. Just to know that the rest of the world is going to know about this on an even broader level, that's a fantastic goal. When you have something you believe in, you want everyone to know about it. I can't wait to meet you guys.
I have a residency in Vegas, and Bruno told me you guys, some of you are going to come see me, so I can't wait to meet you all. That's something else to look forward to. Where's Ric? Where's Ric? Hey, Ric.
Ric's right here.
Hey.
By the way, Ric grew up outside of Annapolis, Maryland. I understand that we could have been neighbors.
We could have been neighbors. We're affiliated, at least. That's great!
Yeah. Well, thank you.
Which part of Annapolis are you from? I mean, Annapolis is Annapolis, but like near Crownsville area, you know, Old Town area.
No, a place, a place called Arundel on the Bay, about 10 miles south, down by the Thomas Point Lighthouse.
I know exactly where that is. They used to have banquets nearby there. I know where that is. Central area.
Absolutely. Absolutely.
We're like old neighbors and friends. I like that.
We are. I'm looking forward to coming out and everybody on the call, please know that Toni is headlining several months, right?
Yes.
Shows in April, May?
Yes, and June.
At the Cosmopolitan, is it?
Yep. At the MGM Cosmopolitan, yes.
Yeah, that's terrific. So, everyone's invited, and we intend to come out, and we're. It's very nice to meet you finally and hear your voice. And I look forward to meeting you. And I think, I have a saying, 1 + 1 should equal 10. In this case, it does. When Uncle Bud's and Pressure BioSciences, when you mix the amazing science that we have at Pressure Bio, with the amazing ability to market and sell a product that Bruno and Garrett and their team have, we're going to make 1 + 1 = 10. Thanks for taking the time, I know you're working on your show, to come visit.
Yes, I had to do a quick hello and say hi to my new team and my new family, and just let you guys know how excited, how excited I am that we're all coming together. This is gonna be fantastic.
Well, thank you, Toni. We really appreciate your time.
Of course. You're my family now.
We'll speak to you soon. Thank you.
All right.
We'll look forward to meeting you, Toni.
You too. Bye.
Bye.
Bye. What a surprise, Bruno. Thank you.
Absolutely. Toni's been, you know, one of our great ambassadors, but more so than that, she's part of the family. We've gone through a lot of different product formulations and ideas with her, and happy that she can be part of the team.
And I bet she knows a few people that she can crow about Uncle Bud's and what you're doing.
Absolutely.
So let's start with you guys, Bruno, you and Garrett. Can you give us a brief overview of Uncle Bud's and maybe include in there, you know, what the company does, and how you sell, and who your customers are, and what your, maybe a little bit about the products. And I've gotten a number of questions that have been sent in, and several of them have said: "How are they ever gonna increase their sales threefold?" Because we put that into several press releases, as you know, Bruno. So I've had several people write in and say, "Please have them talk about how they're ever gonna increase their sales threefold," and then take it up from there.
Absolutely. So, when Garrett and I really started Uncle Bud's, we had a vision for the brand. We wanted to be a health and wellness brand for everyone. We wanted to bring products that were 100% made in the U.S. We wanted to bring products to the market that worked. We wanted to focus on products that people really needed. We've been on this great journey for the last four and a half years, and again, super excited to be partnering with PBIO. But we've got a very clear strategy of the next steps. You know, we've been in retail. We have a great online community. We're retailed with more than 70 products currently, and are developing more.
We're actually launching a brand new premium collection with the nano UltraShear Technology, and that should be out in the next two to three weeks. So we've really hit the ground running, but also, we're really focusing on growth strategy and where the best margin for the brand is going to be. And we find that the direct-to-consumer in this day and age in retail is the best path forward simply because of what we've learned over the last four years. We know exactly who our customer is. We want to acquire new customers with the injection of capital from PBIO. And we've got such great brand partners that have been aligned with the brand from Toni Braxton, you know, all the way to other celebrities that have been part of the brand.
But for us, it's about making sure that we stay focused, we keep costs down, and we always look at opportunities to increase revenue. One of the opportunities that we've worked really hard about is licensing the brand and our name, Uncle Bud's, which we've done successfully twice now. We signed a drink license, which we've just launched, collagen water. This is the first time in its world. It's a hemp and collagen water, which is launched through our licensing partners. And the other one is a health immunity bar, and this is a snack, and this will be launched in the next eight weeks through our licensing partners as well. So we have different revenue streams coming in to Uncle Bud's.
We've got our direct-to-consumer, DTC, we have Amazon, we have our licensing partners, we have our retail partners, and we're working on a couple of other ventures that will prove to be successful for the brand and really try and increase revenue quite quickly, which we've done in the past. We know we can do it. And now with the great team behind us, I know Garrett and I are super, super thrilled to get going.
Great. Maybe, maybe Garrett can get into some of the, some of the products.
Yeah, I was just gonna tap into that. What we've really learned over the last, you know, four or five years since selling Uncle Bud's online, is we have a lot of data around our customers and a lot of data around what products work best for our customers. So we're gonna be leading with some of our top categories: pain relief, sleep and stress, feminine hygiene, sexual wellness. These are all categories that we're a leader in both the hemp and CBD space, and we're able to take the data that we've learned amongst our customers and use in this increased marketing budget from PBIO and tap into different forms of digital marketing. It's an omnichannel mix between CTV, Facebook advertising, Google, YouTube, which is really targeted just towards ROAS.
That's really important to us, is using the data we have to get a return on investment, and that's really important to us. Those are the main products that we're using to ensure that we can keep growing on a steady, profitable path.
And when Garrett. This is Bruno again, sorry to jump in. But when Garrett talks about return on investment for the ad spend, we focus on several different platforms that we've really tested over the last three to four years. Everything from online, digital, Facebook, Instagram, CTV, as well as infomercials featuring people like Toni Braxton. We have a great infomercial that we've activated, and it's going to be playing on air in the next 10 days. So all those different approaches layered together are really something that are going to prove to be very successful. And we have the proof. We've done it. Now we have a bigger engine behind us, and we have science and technology, which we're happy to roll out several new products over the next six months with the nano technology.
Yeah, and we're excited to tap into that community that we've already built to be able to launch this UltraShear product at a higher price point, knowing that that community of people are looking for the highest quality pain relief products on the market, or recovery product in this instance, because it's a CBD product a nd we're looking to hear their feedback on this new higher price point, UltraShear nano product and all the other products that we're gonna be launching over this next few months in the year.
So in today's press release, we talked about a premium collection of products. These are gonna be available, Bruno mentioned, maybe as early as two to three weeks from now. You, we had a link to the early landing site already in today's press release, and I think the way you described it to me, Garrett and Bruno, is it's like walking into a liquor store where you have a lot of the everyday wines, but you also have a lot of the premium wines, and people will buy both. Up to now, you've had the everyday health and wellness products, but you haven't had the premium. But all premium products are gonna be using UltraShear in their manufacture. So basically, it's a way of tying the two companies together.
Our patented proprietary UltraShear Technology, which is the one-of-a-kind around the world, as far as we're concerned, we'll be using this method and developing products with your help, that you believe will be able to be sold as premium products at a much better, for the company, higher price point. Is that the thinking right now?
Yes, absolutely. For us, it's about making sure that we always strive to have the best products on the market. And this amazing technology that you have developed at Pressure BioSciences, we see this applied into a lot of various categories, from pain relief to skincare, to hair loss. So for us, we're excited about engaging the consumer that we have already built. We've got about 865,000 people that are very loyal to the brand and that follow us on various social media platforms through email. We have very strong community, and we really wanna get these products out there as soon as possible under the premium collection. And stay tuned, you'll be hearing a lot more in the press about this as well.
So when John comes to me, John Hollister, who's on the phone, and says, "We need some extra money in our marketing budget," and we find that money, sometimes the reward is around the corner, but many times it's planting a seed. How does it a nd that seed will germinate, you know, down the road. Maybe it's a few months from now, maybe it's six months from now, but and hopefully grows into a big tree. But in your case, how does it work? Is your are you marketing driven and exactly how does that work, and how long do you need? Do you need months to see the payback from any marketing expenditures?
You really do need a little bit of time and not a long time, between six to eight weeks once we've put out a new campaign. But in some instances, you will see the rewards very quickly. One example is when we launch something on our website, again, we have a very engaged customer, and they react very quickly to products that we bring out. You know, we had a collagen product, as an example, that was very hard to keep on the website, always sold out. Our pain relief roll-on, that's both sold on Amazon and also on our website. Again, a very popular product. So we know that our customers will give us honest feedback, and we've learned to listen to them.
And I think as a brand, you have to put yourself to the side, and put your ego to the side sometimes, and really listen to what the customer is telling you. So again, we're excited about the premium collection. We know customers want something that's more scientifically backed. We know customers want something that's more powerful, and this new product that we're launching is four times faster, better absorption, so we're excited to introduce this to them.
That's, that's awesome. And Garrett did mention, and you did a number of categories, so you're not, you know I think some people think that this was a CBD play. This is, this is far from a CBD play. So Bruno, maybe you could mention just kind of roughly, how much of your product line is CBD? How much is THC? That's a leading question. How much is hemp, and how much maybe none of the above?
So it's a great question, and you know, people always look at our brand, and since we launched the brand, we did not want to pigeonhole ourselves as a brand that's selling hemp and CBD products. We're a health and wellness brand, first and foremost, that uses these amazing ingredients like hemp and CBD. We have no THC in any of our products, and we use these amazing ingredients as a vehicle to these great products and active ingredients that we put into the products. But currently, about 60% of our sales are hemp products, and when I talk about hemp, it's hemp seed oil, because a lot of the big box retailers are looking for hemp seed oil products.
Then about 35% or 30% are CBD, and then we have some new products that are coming out that have no hemp or CBD in them. Example is our protein snack immunity bar, which launches through our licensees in the next six to eight weeks. That contains no hemp or CBD. So, we're a health and wellness brand. Put hemp sensitivity to the side. That's an ingredient that we use in combination with a lot of amazing other ingredients in our products.
Yeah, and people are coming to us for better-for-you products that are just higher quality, and we just offer something from head to toe that's an alternative to what's out there, that's just better for going in and onto your body.
Awesome. So I think we need to jump a little bit and not spend a lot of time, but spend a little bit of time, John Hollister, with PBIO. It's a dual approach. Right now, I've always believed in my career, and I've started and run four publicly traded companies, several private companies, and worked as a research scientist. I've always believed that growth should be a combination of organic growth and acquisition growth. We've been growing organically, not nearly as fast as we wanted. I think that's about to change, and I think people on the phone are gonna be seeing that very quickly. One of the reasons is that this week, we're moving.
We're leaving the office park where we've been for over 10 years, where 90% of what I come to every day are offices, and 10% is our labs, that we kind of turned a receiving area into a lab and a couple offices in the labs. We're moving to a manufacturing facility 10 or 12 miles away that is 90%, 85%-90% labs and manufacturing and 10%-15% offices. It's what we need, and it is absolutely what the answer is for us for our growth. So John Hollister, who heads up all of the sales and marketing at the core company, Pressure BioSciences. John, maybe just a couple of minutes on your outlook for 2024.
Yeah. Certainly, Ric. So, as Ric was suggesting, we're one on the capability of being able to produce material, and this is particularly relevant to UltraShear, and accommodating customers in new segments that are gonna be in front of us, whether it's cosmeceuticals, nutraceuticals. I know we've spoken a lot about the cannabis side of the business, but we are engaged with a number of very big names that we hope to be able to announce in the near term in these other categories. But they require us to be in a place where we can produce, and that has been a constraint in the facility that we're still currently in.
But as Ric was saying, very quickly, we'll be in a facility that will much better provide us the opportunity to produce much larger volumes of product. And that's really exciting. And so in the same way as Bruno and Garrett provide us with Uncle Bud’s, an opportunity to immediately engage channels that we've not been able to, with, or, and have had no history with, which are big box or mass retailers or DTC campaigns. The same is, we will be, at the same time, in a position where we can actually produce materials in large amounts. And that's very exciting for me to be able to actually not only sell the product, but actually produce the product and really change the revenue streams for the company. I hope that helps, Ric.
It does. So, Jeff is not just our chairman, but he's very superb engineer and very technical and gets involved in the company to our benefit more than most chairman probably get involved. Jeff, you and I coined a phrase a year ago. We said we've got the best-in-class nano-emulsion technology and UltraShear, and its day will come. And as we just heard from John, we think that day is coming. It's not months away, it's weeks away. We're moving, you know, in four to six weeks, we'll be up and running in the new facility, maybe less. And there are very few limitations.
Where we are now, we've said this on previous calls. Tremendous limitations to our growth here, which is primarily gonna be in UltraShear. The number of products, the amount of revenue that we can do is mind-boggling, in our opinion. But we can't do it here in Easton. But in Canton, in the Canton facility, we've got two big warehouses. We've got a number of other laboratories. It's very exciting. So, Jeff, we're putting a lot on UltraShear. Is that a good thing to do? Do we really have something to stand on there? Why do we think we've got the best in class? Why do we think that essentially we don't think anybody can make a better nano-emulsion in nutraceuticals, cosmeceuticals, or even pharmaceuticals than we can right now. Why? What makes us so good?
Well, that's a great question. Happy to explore that a little bit. So the term nano-emulsion gets thrown around a lot in the marketplace. You know, emulsions are any mixture of oil and water-based materials, and of course, many of the things that we need as nutrients or as active molecules in therapeutics are oil soluble. So in our water-based biology, it's very hard to absorb things from oil. And when emulsions of oil and water go into the body, most of it, most of that oil just gets excreted out, and a modest amount may be absorbed in the GI tract. And then you go through the liver, where a lot gets metabolized. So the challenge is, one, how do we get this absorbed?
The problem with the nano-emulsion is it passes through the body and, or excuse me, with emulsions, they pass through and get excreted. As you get the droplet size reduced enough, and from emulsions that are, you know, drops in millimeters of size to millionths of a meter or micrometers in size, we're now talking billionths of a meter in the nano-emulsion arena. But frankly, you know, once you get down below a millionth of a meter, people say, "Well, we're in the nano-emulsion range now." You may be hundreds of nanometers in size, or even, you know, getting down to 100 or 200 in size, but it's really not till you get into that sub-100 range, and we often are down in the 50-nanometer range for a lot of the product that we have been developing for folks.
It's when you get in that range that you get a tremendous breakthrough in performance. And fundamentally, what it means is the little tiny droplets of oil down at the 50 nanometer size are so small that the active oil molecules that you want to get into your body have only a modest number of other oil molecules left around them in that droplet. So the droplet is small enough that in its journey through the body, you'll pull the active materials out that your body needs. Whereas in a larger scale droplets, it's like, you know, golf balls in a swimming pool, or a large swimming pool, in relative scale, and there's so much, you know, oil around those active molecules, your body doesn't get them.
This is a technology that allows us to precisely set what size droplets we want and control that size within a very narrow margin of variation. So you get the terrific performance where you get very fast absorption, very fast action, and first action upon introducing it to the body, whether it's swallowing it or rubbing it on the skin, or spraying it in the cheek, or any of a variety of other methods. So you get that very fast initial absorption and action, but you also have very effective delivery of the almost the entire intended payload. So normally, when someone eats, you know, a gummy with an oil-soluble active, whether it's a CBD or it's a vitamin or it's an antioxidant and so on, most of that is gonna get excreted through the system.
We showed it with a clinical study or preclinical study partner, with work done on rats at the University of Mississippi, that something like CBD, when you eat it and normally end up with maybe 6% of it in the bloodstream, we had 80% of it absorbed in the gut. And even with the liver metabolizing it like crazy, we still got to 25% in the bloodstream. So we were four to five times more prevalent in the blood. So that is fundamentally the huge breakthrough. The other two things that really stand out with these, this kind of quality of nano-emulsion is, one, you're so far below the wavelength of light, the products turn transparent again. So it's terrific when you're introducing it into a consumer product, like a beverage.
Some products, it's gonna be enclosed in an opaque bottle, and you don't even know that it's transparent in there. But for things like a beverage, that's very important and a great quality assurance indicator in the processing as well. It's also a process that shreds the microbial content, so you are providing an effective sterility capability that gives you long-term room temperature stability on the shelf without having to introduce preservatives that are, you know, not desired by most consumers. So you have that long-term shelf stability, you've got the transparency, but most importantly, that fast action, fast and complete delivery of payload, that is the differentiating factor for UltraShear and makes it stand out above, all other nano-emulsion technologies.
Thanks, Jeff. So trying to pull this all together, this is an amazing year and amazing month for us. We had tried to increase our space about a year ago, and we thought we had a neighbor six miles away where we were gonna get a couple of 1,000 feet that would have helped. That didn't work. But now we have a 12,000-foot facility, where we're moving our team that's north of Boston, our R&D team, down into Canton, and we're moving ourselves up into Canton, so that all 10 or 12 people will be together in the same facility. The facility is exactly what we need to grow. I don't see any limitations on growth.
Everything from the fact of it being on sewer and not septic, and having two 2,500 sq ft warehouses that can fit multiple instruments in them, and clean rooms, and all the things that we need that we could never do here. All of that bodes extremely well for where we're headed. We have a lot of irons in the fire. We've talked about them, but this is a year that we hit that, in my opinion, we hit that inflection point on some of these. We've talked about multiple areas where oil-based active ingredients are not well. We know they're not well-absorbed. And they can become much better absorbed when they are truly nano-emulsified, as Jeff says, down to under 100 nanometers. They become more stable, they become aesthetically pleasing, but most important, they become more bioavailable.
We've had people. We've had groups call us about putting together some oil-based antioxidants, like curcumin, and astaxanthin, which are very highly effective antioxidants that are oil-based. We can make them more absorbable. So we are talking to groups about that. We're talking to groups about super vitamin spray that might have three or four vitamins, like vitamin D3. A lot of people take D3. They don't realize that vast majority of that D3 is being excreted from the body. So there's other vitamins, vitamin Ds, vitamin As, vitamin Ks, vitamin Es, that are all in oil, and we can make them more stable and more absorbent. So we have several groups that have come to us about an idea of doing this with vitamins.
We've had one group in particular come and talk about putting together some things like melatonin and others that are sleep enhancers, and that we could work in that area. We've had other people come to us, even recently, about appetite suppressants, known natural compounds that can do this, but many of them are in oil, and therefore, they're really not that effective or they could be more effective. Cosmetics, we've mentioned on other calls that we are currently working with one of the top three or four cosmetics firms in the world.
Bruno, I mentioned this to Bruno, and Bruno said, "Ric, Ric, Ric, I know three or four smaller cosmetics firms that can probably move much faster, and maybe ultimately they won't have the sales of maybe one of the big three or four, but they'll have great sales, they'll be easy to work with, and they can move fast." So, Bruno and I are talking about retinol and other oil-based compounds that could be quite well received by smaller companies, and getting product out the door very, very quickly.
So there's half a dozen things right there that honestly, we could never do in our current facility, but a month from now, two months from now, they're all fair game in the new facility, and we have done work in all of them to some extent. And many of them, we've actually made nano-emulsified, and we still believe we've got the best method in the world to do that. Now, we have a partner in Uncle Bud's that has access, you know, Bruno, you've had a great background. You've worked with a lot of very famous people, sometimes before they were famous. You've done a lot in that area, and you've worked with some cosmetics people and firms, and I'm looking forward to sending out some samples of our retinol. I think we're gonna, we're gonna blow them away.
I'm very excited about the opportunities, not just at the Uncle Bud's level, but again, I've been in retail for 25 years, and I really want to introduce this product to not just the big cosmetic companies, but also to retailers that do their own private label. I think this will be a game changer to a lot of the retailers that I've worked with, such as Walmart, Target, Costco, just to name a few. If they can include the technology into their own private label to make them stand, you know, apart from all their competitors, this is something that everybody needs. This is a product that I think is life-changing, and I think, from a consumer's perspective, we always want something better. And I think this is not better, but this is brilliant.
So excited to delve into that side of it as well.
So one of the questions that I mentioned before that have come to me are, how in the world are you and how in the world is Uncle Bud's ever gonna get to that very lofty number? And it is a lofty number that we put out, but we believe in that number. We believe we will do that. We believe this company has historically done $2 million a year, is not gonna go to $2.2 million or $2.5 million or $3 million. We believe that we can take this company to upwards of $10 million in revenue over the next year.
And one of the reasons that we believe it is, historically, we've looked at your history, Bruno, and I know that there's been a lack of marketing spend for the last couple of years, but you know, two years ago, you were doing $5 million and handling it quite well. Three years ago and two years ago, you were doing close to $3 million. So you told me that it all comes from the marketing spend, as we talked about earlier. And you mentioned that internally, you guys usually see at least a 3:1 ratio of marketing spend to revenue, and sometimes you've seen, depending on the product, numbers of 5 or 6 to 1.
We've committed to you to spend a minimum of $1 million this year on marketing, which is your lifeblood, so that that $1 million historically tells me and tells you, correct, that you should see a return on that investment of at least $3 million-$4 million of that $1 million spend. And that doesn't count the royalties that you're talking about for the collagen drink. Is that right? And the immune bar?
Protein bar.
Protein bar.
Correct. Yes, that's correct. We're also currently in discussions with another licensee for a whole line of gift packs for the holiday season in the beauty category. This company has a lot of experience into selling into retailers like Walmart, Target, CVS, Walgreens, gift packs. So in this, that's a licensing play. Again, that revenue will go directly to the bottom line. So our revenue will come from a couple of different sources in 2024. Number one is the marketing that we're going to be injecting into the brand, and we've done this before. We have a track record on getting great results on that. This is not a fly by night, maybe, but we've seen those results. Number two is the licensing revenue.
Number three is the expansion of adding the premium collection to the brand. Then number four is introducing, you know, the new Pressure BioSciences technology and the nanotechnology to retailers that we already have great relationships with, and not just here in the U.S., but also internationally. Over the last 25 years, I've worked with everybody from Harrods in the U.K., all the way to Lane Crawford in China. I have a very good relationship with the Alibaba team and Jack Ma in China. So we're looking at various different strategies now that we're part of a publicly listed company. We're excited for next steps, but most importantly, growing the revenue and delivering results.
Thanks. Another question that's come in and we're limited on what we can say is they wanted to know more about the acquisition, the price, the responsibilities, et cetera. What I will say is that to the extent that it's needed, we will disclose whatever we should and need to disclose going forward in our press releases, as we already have, and in our SEC filing documents. We will disclose everything that's needed to the extent that more information is needed. We have said that this acquisition did not include cash. This acquisition was an all-stock acquisition. We did say that it would be in the vicinity of up to $4 million.
We did say that there is an earn-out that we have agreed to with you, Bruno, and Garrett, and your team. I've said to several people that I love for you to earn the maximum amount of that earn-out, because we are gonna do great if you do. So go to it, hit that number, exceed that number, and earn everything you can possibly earn, because we, as a company, are gonna be the beneficiary of that.
We're excited for that, and hopefully, we can show you some great results, with everything that we have planned.
I'm duly, as you know, duly impressed in just the couple of months that we've met and a couple of weeks that since the close. So with that, you know, we've said in the asset purchase agreement that we acquired certain assets, including Uncle Bud's trade receivables, inventory, assigned contracts, website, other IP, other intangibles. We've also assumed a limited number of liabilities, including trade payables. And two notes. One is basically a line of credit from your company's largest equity holder, who's been a great supporter of yours, you've explained over the years, and he's very excited for this new opportunity.
And we hope that he not only will continue to be a great supporter, but be a great investor for us going forward. So that's the deal in a nutshell. Anything more specific as needed will be disclosed in future press releases and in future filings. I'm looking at other questions that have come on. We were asked about One World Products, Isiah Thomas' company, and we haven't said much on that. I have been speaking to them. I spoke with them in the past week, so perhaps more to come on that in the coming weeks. We're asked to talk about other things like Ohio State.
It's very rare for a small company like us to have a friend and a colleague and colleagues at a university as prestigious as Ohio State University, especially in the area of food and agriculture. They do have two instruments. They do have a larger instrument and a smaller instrument. They continue to publish papers two or three a year, and they continue to talk to some amazing food and beverage companies, primarily on our behalf. So, we expect that will continue. And we are colleagues and partners with Ohio State University, so that's terrific. So that kind of goes through the bulk of the questions. There was one here: Why did we pick Uncle Bud's? We kind of didn't.
It was brought to us. It's one of those cases where we weren't really looking for a company like Uncle Bud's, but it was brought to us from a mutual friend that knew them and knew us and said, "This might fit." And sure enough, once we looked at it, my gosh, it fits, and it fits great. This is the beginning of a great relationship between the two companies, which is now one company. Uncle Bud's is a wholly owned subsidiary owned by Pressure BioSciences, a standalone, wholly owned subsidiary, a Massachusetts company. Not all the T's are crossed or I's dotted, but that's the way it will be going forward.
Just to find Garrett, guys like you and Bruno and Peter and Debbie and Laura, who all have the same mindset as us, who all wanna do the right thing, that all wanna look at natural products. I think what caught your eye was our CBD product, which is all plant-based, all-natural, no preservatives, no GMO, just right up your alley. You know, I think that helped sell us to you, and the fact that you believe in that sold you to us. So, it's terrific. So, you know, we do believe that this company, combined company, is gonna skyrocket, not next year, not the year after, but this year. We'll accelerate and build on that in 2025 and 2026.
We need a few more weeks to get ourselves into the new facility and get everything unboxed and up and running and humming, which hopefully will be sometime, maybe the end of November. Hopefully not. End of February, beginning of March, so that we can end the first quarter well, and the next three quarters are gonna be terrific, for sure. Bruno and Garrett just keep every day coming up with new ideas, new thoughts, but the main thing is you have the baseline. Anything you wanna add, Bruno or Garrett?
No, just to say that we're very excited. We wanna make sure that we keep everybody informed of all the new products that we're launching. And, you know, you'll hear from the press releases of the strides that we're making and excited to be part of such a great company. Ric, you've built an amazing company. We're excited about the technology, and we really wanna bring it to everyone.
I agree with Bruno. Just looking forward to what we have in store for this next year and seeing how we're, how well we're already working together. It, we have a lot of exciting opportunities ahead.
John, anything to add? We've got about a minute left, and then Jeff.
No, no, I just think we've encapsulated it all. Thank you, for the listeners, for listening to, the newest and greatest news, and all your support and all your feedback, because, we take it, like, Uncle Bud's group do. We, we care about what you think, and so please keep communicating with us, and keep supporting us. Thanks.
Jeff, final 30 seconds?
You know, I'll just, you know, add to some of your final comments about Uncle Bud's. You know, we certainly have looked at a number of different companies for partners, acquisitions over the last few years. And Uncle Bud's was one that hit the mark in a way that others haven't. They were not just, you know, another, you know, financially driven, let's get a deal done, flash in the pan, make a story, you know, whatever.
This was a quality team, you know, people with the right stuff who were focused on scientific differentiation, focused on quality of products, U.S. manufactured, and who had a clearly established capability to, you know, access major celebrity spokespeople, both Hollywood and the sports scene, and had expertise well demonstrated across, you know, retail and online, and, you know, e-marketing and so online marketing. It was just the ideal size, people, and fit for growing into multiple new areas, and we're just incredibly excited to see this come together and to welcome Bruno, Garrett, and the team to Pressure Bio.
Okay. I just got a text. Someone said, "Please tell us about the annual meeting." We've had a couple of starts and stops, primarily because of just the move and some other things. But the annual meeting, which is normally held by the end of December, was postponed until 2024. Right now, it looks like it's gonna be on Thursday, April 18th. Thursday, April 18th. So that is the date of the annual meeting right now. And other than that, I just wanna say thanks to everybody. I know it's. I hope we've answered your questions. I hope we gave you a lot of information that you didn't have before.
I'm glad you're able to meet Bruno and Garrett and hear them directly, 'cause they are the real McCoy. As Jeff said, they have the right stuff, and we're very honored to be working with them and excited. So thanks to everybody. We believe this is our year. We're very excited about 2024. I'm gonna go from a 15-minute drive to a 30-minute drive, but I'm gonna be smiling the whole way because we finally, finally, finally have a facility that it would be tough for us to grow into it. And if we do and we run out of space, we are kicking a lot of butt because there's 12,500 sq ft, almost all manufacturing, and it lends itself for tremendous growth for our company.
And then add that to what you heard from Bruno and Garrett, and boy, what a great future we think we have. Thanks again, John. We're all set.
Thank you. This concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.