Welcome back, everyone. We have an update from Realbotix Corp. It trades on the OTCQB under the symbol XBOTF and on the TSXV under the symbol XBOT, and transcending the barrier between man and machine creates human-like, socially intelligent robots that improve the human experience through learning, connection, and play. Happy to welcome Co-founder and CEO Andrew Kiguel. Welcome to the conference, Andrew, and I believe I saw you on Fox recently.
You did see me on Fox. We've had some really great media coverage lately, and at CES last week, we had a tremendous amount of media coverage as well.
Wonderful. We'll give our viewers an update, and then we'll hop into questions when you're ready.
Sure, so just as a summary, Realbotix, we make and sell AI-powered humanoid robots that resemble humans. That's sort of our superpower and what makes us different. Our robots are not meant to replace physical human labor. They're really meant for social situations, and I can talk to some of those sort of use cases as well that people might be interested in. I'll give you guys some case studies here of things we've done. So for example, in healthcare and military, we've done robots for the U.S. military and Johns Hopkins Hospital. We've done robots that we've sent to other places for marketing and branding purposes, and we have sort of our own robot named Aria, and she has her own social following, her own social media that we use. We were at CES last week displaying our products for the very first time.
People may have seen it sort of ended up going all over the internet, people doing things, interacting with our robots, and what makes them unique is that they do look very human. You can ask them questions. You can interact with them, so think about use cases as maybe a concierge at a hotel, a greeter at a retail store, or even as a person that goes room to room in a senior's or an elderly home and keeps people company and can collect information for a doctor or a nurse, so a lot of use cases. Since CES, we've actually been receiving a lot more, so we've had inquiries from people in the military, pharmaceutical industry, entertainment, and even from the religious areas in order for us to make maybe some special products for them. We custom-make our robots.
We have a special patented design system, which is modular. What that means is that we can take the face of a robot, and we can remove it very quickly, press a button, and create a different AI for it. So the other part is that we also customize the AI. We build on top of open-source AI systems such as ChatGPT, but our AI is a little bit different in that it's customized to befriend you, to remember you, and know who you are. The last thing I'll talk about is our vision system. We unveiled our first vision system at CES, the Consumer Electronics Show, last week, and it was a huge hit.
Basically, the robot can make eye contact with you, has the ability to recognize you, and also recognize if you're holding an object such as an apple or a computer or something like that in order to have a conversation with you that is more lively and realistic. So maybe with that, I'll turn it over to questions and see if anybody wants further information on what we're doing.
Great. We have a question from Mark asking if you're actively seeking any partnerships.
So we are having conversations with people on partnerships, primarily some other technology companies. A lot of people have been reaching out to us. If you're interested in that, you can go to realbotix.com or realbotix.ai, which is our investor site, and there's a contact email there, and you can send us an inquiry.
David asks if there are any new partners on board that you can talk about.
There isn't right now. It's been five days since we've been back from CES. That was the first time anybody looked at our robots, and what I would say is people generally thought we had probably one of the busiest booths at CES, if not the busiest. In fact, the CES staff would come over frequently and tell us our crowds were too big. We were creating fire hazards, and people were sort of impeding on other booths to sort of take a look at what we were doing, so it's been a little bit too soon, but we've been quite pleased to be validated by sort of a bunch of potential different partnerships.
We have a few questions about the logistics. What's the shipping like and any other details you can give when ordering?
Yeah. So we have an intake form that allows us to sort of get information from the potential client. So do you want the vision system installed? Do you need an interface for your own AI, or do you want to use our AI? Are you going to replicate a person, or do you want to use something that we've already created? You answer the questions. We come back to you with a quote. Typically speaking, for just the robotic bust, that costs about $10,000 and can be shipped in about two months. If you're looking for a full-bodied robot, that can be significantly more and can take four to six months just depending on the backlog.
Can you discuss some companies that have shown interest in incorporating your robots into their daily business activities?
I'm not going to share any names. We've had interest from major theme park operators, museum operators, other technology companies that sort of see the evolution. Other robotic companies would be sort of where we're seeing the primary. We've had some branding and marketing groups that have approached us about using our products to, again, create more foot traffic and elevate what their brand is doing.
A comment: robots from China have realistic skin. So how does the durability of your patented skin technology compare to others?
Yeah. So I would say that we have the most realistic synthetic skin in the world. It's a patented technology that we have. In my experience, our skin feels softer. It's more durable. I think the facial movements in our robots are more realistic. I think places like China and Japan are making some really great products, and they can do some things that we don't. But when it comes to realism, facial expressions, and very lifelike-looking skin, I believe that's our superpower.
Are these all made to order, or is there inventory?
Everything is made to order right now.
Edward wants to know, when will the financial statements be released?
Financial statements will be released January 28th. Our year-end is September, and so the financial statements that will be released January 28th will be for the full year, end of December, sorry, September 2024. And then a few weeks later, we will be releasing our Q1, which would be September to January.
Dan asks if you're currently working on allowing your robots to walk.
So we're not. We're still an early-stage company. People can see we have about an $80 million market cap, and we're going to leave the walking to the larger players. And then once it becomes what I would say cemented by them and it's done properly, we'll integrate that. Right now, despite the things that you see, robots can walk on very flat surfaces, but they're not yet able to sort of climb stairs properly or an area that would be like a beach or a rocky area. It's not perfected. And for our robots, because they look so realistic, we don't want them doing sort of a clumping around thing where they're falling over. Our robots do move around. They're on a wheeled base that can be programmed, and it has sort of almost like a GPS where you can program it not to bump into things.
We think that provides for a more graceful form of movement for the type of robots we have.
Do you currently have a PPM? Is your Canadian listing in good standing?
Yep. Everything's in good standing.
Talk about where you see the company in the next 24 months. Any major milestones you hope to accomplish?
Yeah. We have a lot of major milestones. So the first thing that we're doing here is we're going to continue, and we're staffing up right now. Like I said, I think leaving CES, the feeling amongst the team is that this company can be much larger than we had imagined. And so we are looking to staff up. The key areas we need to continue to build on are sales and business development. And then we need to sort of find a place to build a robotic assembly line. As I've said in the past, right now, we have the capacity to build 15-20 robots per year. I think we are going to need to really scale that up. We're going to be looking to build a facility somewhere where we can build several hundred robots annually.
I believe that the demand is going to be there, and we're seeing that based on the influx of interested parties right now.
Are there any legal or moral considerations as you emulate humans?
Yeah, of course. So I can give you some examples. We would never replicate a living human or even a historical figure without some kind of permission. So for a human, we would need to have their permission. And frankly, if you were going to do a good job, they would need to be a participant in that process. With respect to historical figures, the client would have to come to us with a license or some form of permission to do that. And so we're not recreating things for clients without taking into consideration that ethical boundary. In terms of the AI and things like the faces, everything we create right now comes from our imaginations, but we want to make sure that we're not doing anything that feels offensive to people. And the same thing with our AI.
We want to make sure we're respecting the boundaries of how we interact with humans.
Donovan asks, for those who like to feel a product before purchasing, are you considering having some type of retail showroom?
Yeah. We're having some conversations, so we wouldn't have our own retail showroom, but what we're getting right now is approached by a few different people that are asking us if they could showcase our robots, and so we're currently looking at a potential location in New York City. That might be sort of the first place that's large population with people that can afford, but ultimately, if somebody was interested in buying the product and wanted to come see it, again, send us a note, and we could arrange for a visit for somebody who was an established potential buyer to come and take a look.
Mark asks if you're looking to get on the Nasdaq.
Yeah. It's definitely a goal. One of the things we've seen here in the last few weeks is people continue to talk. Jensen Huang from NVIDIA said that the biggest business opportunity in human history is going to be robotics, and we're sort of at an interesting spot as one of the only public companies focused on that. We definitely are looking at the Nasdaq because we think we could greatly enhance our liquidity, our access to capital, and our valuation if we were traded on the Nasdaq.
Is Realbotix doing a stock buyback currently?
We're not doing a stock buyback right now. Our share price has appreciated by 400%. So I think we have a Normal Course Issuer Bid in place, and if the share price was to drop back to the levels we saw towards the end of last year or even the beginning of this year, yes. And we've actually allocated capital to do that. But based on the current valuation, again, being very transparent, we wouldn't intend to buy back stock at these prices.
Last question from Michael. Are you only focused on the robotics AI space? What about crypto, gaming, metaverse, and the other web3 initiatives?
Yeah. So we still have some exposure there. We keep our treasury primarily in Ethereum. That's part of the legacy of the business. So we sort of sell ourselves as AI, robotics, and crypto. But what I would say is that that's less of a focus today. We've just seen a much bigger and unique opportunity. There's a lot of companies out there right now where people can get exposure to crypto. Not a lot of companies where people can get exposure to what we do. And so we're going to focus more on the robotics and the AI. We still have exposure to metaverse and web3 via our ownership of 15% of StoryFire. But I think we feel the bigger opportunity is in what we're focused on now.
Wonderful. Well, thank you so much, and we look forward to seeing you again with some more updates. We appreciate you.
Thank you very much.
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