Hi there. Great to be with you here again today. My name is Eddie, and I'm the CEO and Co-founder of Kneat. I'm here to give you a recap on the Kneat story and to give you an update on where we are relative to when we spoke to you last. I guess we presented last time around in September to this conference. Today, I'm going to focus on, while I'm giving you a brief recap, I'm also going to blend in some questions that we have been receiving from the investment community and that may benefit you as you absorb the story. So over the next 10 minutes, we'll go through the story and put in some questions. Any questions you may have, please type them into the portal, and we will deal with those also.
Before I get started, I'd like to point out our safe harbor statement. Any questions, any statements that I may make that may be future-looking, bear in mind that they may not occur in the future. That just any statements that may be forward-looking may not actually occur in the future. Moving into the recap of the Kneat story, Kneat helps life sciences to develop, manufacture, and deliver therapies to their patients to the highest quality standard. How we do that is by delivering digital validation that they use in their manufacturing processes. All their processes and all their manufacturing systems and equipment must be validated, and that's tested to a very high degree to ensure that they will manufacture therapies to a high quality and standard and will not affect patient safety.
And these are mission-critical processes, and they're overseen by bodies such as the U.S. Food and Drug Administration and the European Medicines Agency as examples. So our platform in the marketplace has a very strong positioning statement. Kneat delivers a single platform for all your validation workflows your way. So what we're saying to our customers is, we don't mind how you want to run your validation process. You can configure that on the Kneat platform, and it's a zero-code platform, and it's easy to use, and our users love using Kneat. So that's what really sets us apart in the marketplace, a platform for multiple different business processes in the validation space today that the customer can do their way. So when we look at a recap on the Kneat story, Kneat is the market leader today with very high customer retention.
So if you're solving this problem, the data is being managed for many years to come and needs to be available for audit when the regulators arrive. So it's a very sticky platform, very sticky process. And if you're delivering the value, you will be kept a long time into the future because they're managing this data for many, many years to come. We have a high revenue retention. This revenue retention speaks to the fact that we don't churn our customers, but also to the fact that our customers expand with us over time. So if you look at our net revenue retention that we quartered at the end of 2024, we give this number once a year. That was 151% at the end of 2024. So we have a strong organic growth. So our platform is an end-to-end process, and you can model different workflows on the platform.
As we scale the business, our margins are growing. And when we look through to 2026, we will be messaging to the marketplace that we expect to hit break-even in 2026. There's a proven founder-led executive team. This team has a steeped in pharmaceutical manufacturing experience, understanding the regulations in the industry, and understanding the business processes that the platform is solving. So this is one of the key competitive, I guess, IP built into the platform, built by founders from the ground up, targeting the life sciences specifically, which is a huge competitive advantage. This is a very quality-focused business. Our customers must audit us to make sure that we design and develop software to a high standard before they can buy us. So we have to ensure that we develop and test software to a very high degree. And that's a very strong attribute within the company.
When we look at the question we often get asked is, land and expand, how does our land and expand model work? So today, we want to enter a customer for one process, one validation process, and then scale to multiple validation processes across all their sites. And just to give you an example of that, our most advanced customer is expanded to seven different workflow processes across 27 sites to 12,000 users. And they did that over a three- to four-year period. So when we look at today, we count eight of the top 10 biggest life science companies in the world as our customers. And when we look at those, we see several of those are at 70% expansion, one of them at 100% expansion. Then we have several in the 50% expansion rate.
Then the rest are under that 50% and on that journey of expansion. So that's when you look at our top 10. Of course, we count the majority of the top 20 as our customers also, and similar kind of metrics apply. So we're on that expansion journey with all our customers. And some of the investors often ask us, what is our white space with these customers? So I don't give out numbers in this, but what I would say is just in line with my summary there, there's a huge amount of opportunity in this white space with our existing customers. And we summarize all this TAM. We see it as a $2 billion TAM in total. So looking on a little bit further, we often get asked, what is the hottest competition impact on our business?
When we look at Kneat's journey to date, Kneat is the mature, tried, and tested platform that delivers value for its customers. We're renowned for that. That's a huge advantage over whatever else is in the marketplace today. What I will say is Kneat has been very successful in this space. It has started out. Really, Kneat has helped to grow a new category here. As part of that new category, we've identified. We've proven the opportunity in this category. As a result, competitors are entering the space. When we look back at our year, we are winning. We have a very strong win rate against this competition.
I would say that some of the evaluation processes can move out a bit because of the new entrants and the new products that may be suitable, and they can extend the evaluation times with customers. But by and large, Kneat has a very strong win rate within this space. The other thing that speaks to our competitive advantage is the G2 report. This is on the screen in front of you, shows you that on the top right-hand corner, top right-hand quadrant, you'll see Kneat. And this is a report based on user satisfaction associated with software solutions in the pharma and biotech space. And Kneat has a 98% out of 100 satisfaction rate. And that's a lot of validated user feedback that G2 has run. And you can see that the next software in the space is at 78%.
So Kneat is way ahead from a customer user and user experience perspective. This is also a very strong competitive advantage that Kneat has. And a lot of our competitors are in there, and they're further to the left on that grid. So just to summarize on the next slide, excuse me. The next slide, this is just a slide that summarizes what the Kneat platform is. And I spoke to you about one platform for all your validation workflows your way, a huge positioning statement that we have in the marketplace and a very valuable one and one that differentiates us hugely. So a workflow can be based on data, documents, testing forms, files, and supported by AI, a combination of these things. But the data is captured through these processes and managed in a powerful data integrity platform.
This is the huge IP that Kneat has in there, data integrity running across the data across its lifecycle. So if someone changes the data, there's an audit trail on that approved data, and that can be demonstrated to your auditors. That data then is available to whether it's reports, analytics, AI models, and business applications. The other question we get asked is, what impact AI has on our business? And there's two answers to that from two perspectives. One is on our business in general, software development, software testing, running our operations, all of that. We get benefit there, and we're on a constant journey of looking for better AI capabilities in those areas to support the AI we already have working in these areas and to bring our processes to a more effective and efficient manner.
Also, we're building these efficiencies into our platform that allow our customers to achieve the results quicker than they did before in Kneat, so if you think about, to give you an example to try and make this an analogy for you, think about Salesforce CRM. Kneat is like a CRM platform for validation for regulated processes within life sciences, and we have also many agents that we have right now, and we're developing further as we go through 2026, and these agents allow the users to do their work faster and more effectively and have the data reporting, etc., more quickly for them, so that's where AI is for us. We're on a very strong journey with AI, and we're working really closely with our customers, but AI in this platform must also be very thought through because this is regulated data. There's no room for error.
So just to recap then, I'd like to say thank you all very much for your time today. And I look forward to speaking to you at any time in the future. Please reach out to our head of investor relations, Katie, if you have any information, further information, but also put in any questions you have for us right now in the portal. And we look forward to discussing them and presenting them back to you. Thank you very much. Autologous. There we go. Autologous.
Welcome back, everyone. We have an update from Regen BioPharma Inc. It trades on the OTC under the symbol RGBP. It's a biotech company focused on developing innovative treatments using autologous cell therapies, RNA and DNA-based immunotherapy, and small molecules in the immune oncology and autoimmune disease space. Happy to welcome President and CEO David Koos.
Welcome, and nice to see you again today, David.
Good to see you. It looks like it's a little cloudy out there in the background.
It's winter in the depths of w inter here.
Lovely.
All right, so take it away. You know the drill. Go through whatever you need, and then I'll be right here whenever you're ready for some questions.
OK. So I thought I'd start off today with a discussion of what we're doing. We've announced, or I've announced, a distribution in Reg A stock, which is our. I'm sorry, a Series A preferred stock, which is coming out. Let's see. Let me just get this. Yeah. So on January 19, we signed a board of directors resolution. So we're going to make a dividend distribution to shareholders of one Series A preferred share for every share of stock they own, whether it's common or preferred.
The record date on that will be the 3rd of February, and it will be payable on the 9th of February. So that's coming up. It's all been codified in the recent 8-K file. I think it was out this morning so that shareholders can pull that up, see it, and then figure out what that means to them. But essentially, everyone will receive one share of Reg A or Series A stock for every common share and every preferred share that they own. The shares will be issued with or without legend determined by whether your stock that you currently hold has a legend on it or is freely tradable, or if it's on deposit with Cede & Co. with your broker. So however it is right now is however the shares will show up. So that should be good.
Reasoning behind this is really there isn't enough stock in the system for the Series A preferred for it to trade on a regular basis with any kind of volume in it, meaning that this will create more liquidity, I believe, for shareholders, and also with the stock price having come down precipitously over the last several weeks, it's one way that people will have shares in a stock that should mitigate some of that drop in price. I think today, when I looked earlier, it was trading around $0.025. So you couple that with whatever your common is, and that's really where your position is in terms of the stock itself. So that should be helpful at some level for the shareholders.
The other factor is that any convertible paper that we have is convertible into common stock, and there is no paper out there that converts into the Series A stock. So that mitigates a lot of the frustration we all have when you have a convertible noteholder that converts and then blows their stock into the market. So I think that's a safety valve that I'm appreciative of. So those shares will be paid out on the 9th of February, and you have to be a shareholder on February 3rd to get that distribution. Now, if you have any questions on that, you can always email me and let me know that you have questions, and we'll try and get those answered. But it's pretty simple and straightforward.
Now, the Reg A, because there was a drop in the price of the stock, we had to go through and reprice the series, the new series or the new Reg A stock. It was priced at $0.01 a share. We had to drop that down to $0.000045 a share simply because the market wasn't there. The market has been a little soft. Why? I don't know, but it's been soft. We have not sold any of the new Reg A at this point, although we do have indications of interest, especially based on the dividend distribution that we're making on the Series A preferred shares. So we should be able to see that come about pretty smoothly, pretty quickly. I think that would be nice.
Now, the last time we presented, I mentioned about an issue with the CRO that we were going to use, and that was that when I had asked for pricing, they gave me the price. And when I was getting ready to finalize everything, they came back and said that there were things that were not in the agreement that will be additional monetary concern, which ended up doubling the price of what it cost to do the clinical phase 1. Since that time, I have been looking around at other CROs to see what their pricing effectively would be. So I have an idea of whether it's a good deal, a bad deal, or if we need to rethink who we're using on the contract research organization. So that's kind of, in a nutshell, what we have as a scientific update.
Harry is not here today because he's traveling over to Egypt. He's giving a presentation over there. Now, I know we've gotten some questions from people, and I'll get into those right now so that we can address those in a limited amount of time we have. First question. In the latest 10-K, the cash balance showed $65,000. What happened to the remaining $383,000? Yeah, I'm not really sure where that $383,000 came from, but there was never any $383,000. When we did the first Reg A, I think we came up with around, I want to say it was somewhere around the $200,000 range. So I don't know what that's all about. Let's see. Question number two. Were any of Regen BioPharma patents sold? No. How many patents does Regen BioPharma presently own? I guess somewhere around 20 patents.
I don't have the exact number off the top of my head. But I have recently gotten input from a couple of entities that are interested in licensing some patented material from us because it works in with their business models. And as details become more readily available, I will be more than happy to pass that information on. But at this point, we still own all our patents. Patents have not been sold, and we are looking at the possibility of getting potentially some licensing agreements that will generate some revenue. Another question. The new Reg A doesn't show any use of proceeds towards clinical trials. My understanding is that that's not a huge issue. I mean, that's the intent. You have clinical trials, and you have ongoing regular business expenses, and there's no reason that we have to list clinical trials down there separately. Excuse me.
So that's not really an issue I'm worried about, and neither should you as shareholders. It's just semantics. What is the status of the FDA grant application filing? You promised it would happen in January. No, I didn't promise that it would be happening in January. We did the filing. We're waiting for feedback, and we haven't received any feedback yet. Because of the government shutdown, I would expect that that would potentially delay getting back to us. The actual award of a grant would not take place until the latter part of October this year. So it's not that, boom, you apply for it, and boom, you've been given a grant. So the deadlines are different from the actual award. So as soon as we get any further update on that, I will let everybody know. I think that's a good thing, but it's not immediate.
So that's four questions I have. Anna, I think I'm ready for any other questions you may have.
Okay, great. We have just a second left. I wanted to, let's see. There's lots of questions for you. So if you can talk about what does a structure look like to raise another million?
What does the structure look like? Well, one thing is if we get some of these licensing agreements through the door, that could be non-dilutive, which would be ideal. And that I'm working on now. I would love to see that happen because I don't think any of us want to see mass dilution. On the other hand, if it's done with common stock and you've got Reg A or Series A, I keep messing that up today. Need another cup of coffee. The Series A preferred stock would mitigate any dilution of the common, in theory.
So I think that we should be good there. I mean, I've had numerous commitments from different organizations, different entities that can provide financing for us. So it's just a matter of figuring out what looks the most attractive. In the meantime, I'm trying to sort out what we're doing about the CRO.
Well, David, again, thank you for being on this conference and your updates and transparency. We really appreciate it. We've got lots of questions for you, and we'll send them to you so you can answer on your own. But we got to move on to our next presenter. But thank you again, and we wish you and Harry safe travels, and you the best of luck, and we'll see you hopefully next month.
All right. Appreciate it very much.
All right, everyone. We'll be right back. Welcome back, everyone.
We have an update now from Stallion Uranium Corp. It trades on the OTC QB under the ticker STLNF and the TSXV under STUD. But JV partner, Atha Energy, holds the largest contiguous project in the western Athabasca Basin adjacent to multiple high-grade discovery zones. Happy to welcome CEO and Director Matt Schwab. Welcome to the conference. We're excited for your update, Matt.
Thanks for having me today. Jumping right into it. Good afternoon, everyone. My name is Matthew Schwab, and I'm the CEO of Stallion Uranium Corp. Getting right into the update, I'll just quickly reiterate the immediate importance of uranium in the world right now. We're seeing an anticipated growth for reactor builds, a lowered expectation in production going forward, and a growing demand for energy on essentially an unprecedented scale.
This is why we're focused on the Athabasca Basin of Northern Saskatchewan, which is the highest-grade uranium jurisdiction on the planet, with grades on average being 20 times higher than anywhere else in the world. Our team has extensive experience in the region, with my VP Exploration myself having been part of three high-grade discoveries in the region in less than a 10-year span. And we have very strong support from the rest of our team and board to accomplish the same success again. Over the past year, our team has accomplished all of the goals set in front of us. We've reprioritized all of our exploration targets. We've restructured the company and raised over CAD 24 million in an eight-month span. The market has responded, and we're seeing great growth in the company right now.
Because of this, we are fully financed to begin drilling on our unexplored 1,700 square kilometer land package in the southwestern Athabasca Basin, a land package that is surrounded by some of the highest-grade deposits and discoveries on the planet, including Centennial, Arrow, Triple R, J Zone, and Shea Creek. And that is really what we want to accomplish, what is historically done in the eastern side of the basin, where you can see exploration within the same depth range and scale of our land package resulted in over 1.5 billion pounds of uranium discoveries. So to do that, we follow a very methodical and strategic approach, the same approach that we've used to make three other discoveries. And that brings me to our recent updates. As we move forward, we've progressively decreased risk through additional surveying, most recently completing another ground EM survey over Coyote.
And what we found was more complexity, higher conductivity, and increased structural complexity, which are all good things because, as I tell everybody, the more chaos we see, the more potential we have. So this has really strengthened our targets over the 8.5 km Coyote corridor. And our team is excited to be mobilized to begin drilling across the target through the coming months. Reminder, the methods that we use and the confidence that continues to grow is based on comparisons to previous discoveries that we've made, most notably the Arrow deposit. We see the same gravity low signature, but Coyote is bigger. We see the same structural complexity, but Coyote is more complex. We see the same strong conductors dissipating over an interpreted zone of alteration. Chaos is good, and this gets us very excited.
So as we begin drilling, we'll be mobilizing additional geophysical surveys over the other Tier I targets. We want to continue moving forward as aggressively as possible with as many targets as possible to ensure the best chance of making discoveries over our 1,700 sq km land package. So I guess in summary, we have the right team with the right experience and previous successes. We have the largest or one of the largest underexplored land packages in the world's highest-grade uranium jurisdiction in the beginning of another uranium bull market, and we are fully funded to begin aggressively drilling immediately. So with that, I think we can quickly jump into some questions.
Great. Thank you, Matt. We do have some questions for you. Starting with, oh, I'm sorry, my thing went the wrong way. Talk about Coyote. Why is it so much more compelling than other targets out there?
It really comes down to our process of exploration. As I said, we're pretty methodical in what we do, and it's worked out in the past clearly. While we go through an extensive process, we really rely on four key factors being correct geological setting, structural complexity, conductor presence, and indicators of alteration. And what we see at Coyote not only mimics almost every other discovery in the basin, but the signatures are far more intense and larger in scale, as I showed in my comparison to Arrow. So we're very excited about this.
And so why hasn't there been much exploration on the western Athabasca Basin?
This is really based on access. Historically, there were highways going up the west side of the basin to Cluff Lake and up the eastern side of the basin to Stony Rapids and Uranium City.
So due to cost, companies decided to primarily explore within roughly a 50-km corridor around those highways. But now, due to the successes that we've seen at discoveries like Triple R and Arrow in the southwestern basin, we have access that allows us to explore at the same cost as other companies in the basin, but it gives us really the opportunity of a lifetime with no previous exploration on most of our land package. So this is an incredible opportunity.
And talk about the track record of your team in discovery and in shareholder returns.
Well, as our team continues to grow, that's actually kind of a tough question to nail down on numbers. But again, between myself and my VP Exploration, we've been part of three high-grade discoveries in the region.
As far as providing shareholder value, our team, including our head of IR and our new CFO, have been involved in, I think, just shy of $6 billion in company sales, if I'm doing my math correctly. So this is not our first rodeo. We've done this before. We've provided shareholder value. We've made discoveries, and we're excited to do it again.
And do you have any other compelling targets you could talk about?
We have many other Tier I targets across our land package. It's quite extensive. And we're advancing geophysical work across them as we speak. Stone Island, Fishhook, Lynx are really the next priority targets. And I would expect that we have some additional news coming out regarding those over the next coming months.
At the end of this drilling program, my goal is I want to have drill-ready targets on at least three top Tier I properties to begin moving forward into another aggressive drilling campaign. Once we get this momentum, I don't want to stop.
Is there any news on the Haystack data? Didn't that come in last week? Any announcements to be expected?
Yes, you can expect an announcement on that in the next two weeks. We got that data just shy of a week ago. It was very interesting. It definitely validated many of the targets we have across our land package and opened up our eyes to a few things that we may have missed. So at this point, without really going through the data, it's essentially given us everything that we expected from the survey.
A nd since you have the deposit, how long before you dig?
We've got drilling rigs mobilized to site right now. Weather is not cooperating with us, unfortunately. Strangely enough, we had plus five and pouring rain in Northern Saskatchewan last week, so that slowed things down. But we are moving forward, and we expect to have a rig turning, at least our first of two rigs turning next week.
Perfect. And how many drill holes will you have, and when will you see drilling news released?
At this point, even with the drilling delay, we're still planning on getting at least 15 through the Coyote corridor. As I've told many people in the past, the great thing about uranium is we don't need assays. We can start putting out results as soon as we get the scintillometer across the core.
So provided that we can be drilling within the next week, I would expect some kind of drilling results or news releases based on that in the first week of February.
Wonderful. Matthew, do you have any closing remarks for our viewers today?
Not other than, again, that our team has pushed aggressively through this past year to get to exactly where we are right now. We're very excited about the targets we have in front of us, that we're fully financed, and we have the support of our shareholders across the board. So we can't wait to start putting out some more results and see wh
at we can make from the Coyote target. Wonderful. Well, thank you so much for your update today. Congratulations, and we look forward to continuing on in the near future.
I appreciate your time. Have a great afternoon.
You too. All right, everyone.
We'll be right back.