Hi, everyone. Welcome to our very first attempt to do a Twitter/X Spaces. This is all very new to us. I hope it will work. I think perhaps the best way to make sure this is working and you guys can hear me is to invite someone who is also listening to us to join here as a co-host. Addie, I'm inviting you here as a co-host. Your microphone is open now. Zach, I'm inviting you as well here as a co-host. I don't know what that means, but we're gonna find out together testing this very new technology, which I've already found out it isn't great. I was hoping we would be able to share our screen and there is a presentation we put together.
There's a little video I was hoping we would play, but none of that seems to be possible. I really hope Elon will be looking to fix that with Twitter Spaces in the short term. Perhaps that's the very reason why he didn't wanna join. He would be embarrassed by how this thing is set up at the moment for calls with investors. Addie, I've joined you. I've added you here as a co-host. Can you hear me? Hello? You're on mute, Addie. If you're trying to speak, it's showing you're on mute. Hello? Let me try someone else here to join as a co-host to see. Jeff. I can see Jeff. Let's see if Jeff will hear what we say. No. Magnus, let's see if you can hear us. Magnus, can you hear us?
Okay, guy, I just need some sort of confirmation that you guys can hear me. Otherwise, I don't know how this thing is working. Jeff?
Hey, hey, Cris. I can hear you fine. Thank you.
Fantastic, Jeff. That's good. That's a good beginning. It's a good beginning. Can you imagine if like in 40 minutes down the road we found out that no one could hear us? That's very good news. What I will, even though very unfortunately I cannot share my screen or and you guys cannot see the presentation, what I suggest is that I take you guys through what we did to come up with Bio Revolution, what the journey has been like, why we are so confident, why we're so positive about this new development, why we believe that it's so important for all of us, shareholders of the AgriTech and also to society, what we're doing with Bio Revolution.
I don't know if I will be able to or how it will work to take questions, but I'm pretty much hope this can be as interactive as it gets, allowing as many people as possible to ask questions and contribute to today's presentation. Let's talk about microbes. In one handful of soil, just one handful of soil, we have over 10 billion, 10 billion different types of microorganisms. It's very interesting because all the way back 1,500-something, Leonardo da Vinci said that we knew more about the movement of celestial bodies, more about the movement of planets than what we knew about life underneath our soil. It already suggests what an interest scientists taken to what could be there and what could be done out of all of those microbes.
However, it took us around 500 years to advance to the level of of knowledge where we are now. The great information is that even nowadays, we only know, understand, we have only studied about 1% of all soil organisms. Only 1% of all soil organisms are known to scientists. It gives you an idea of the potential for transformation, the potential for new discoveries, and a bit later on during the presentation we're gonna talk a little bit why now we believe is a crucial point in time where it has already begun accelerating, but will start accelerating even further the knowledge in this area of science. The first point is an increase in awareness by agencies like the Food and Agriculture Organization.
Last year, FAO chose soil biodiversity to be its key theme, and they've been publishing a number of papers. They've been supporting a number of initiatives from an international perspective. What has also happened in terms of more of a society increases of microorganisms and its benefits to the planet is that documentary, Kiss the Ground. I hope most of you have seen that documentary. The ones who didn't, please support Netflix, sign up to Netflix and watch it. It's phenomenal. I'll go a step beyond and say I hope it will be something equivalent to what the documentary Inconvenient Truth was for raising awareness of global warming.
I really hope the issue of soil biodiversity, the importance of not just protecting it, but applying science and looking at ways to apply that to better yields and more quality agriculture will grow over time. Lots of people have asked me the last few days what microbes do. Why are they so important? I think the best way to start answering this question is really by saying we wouldn't be able to feed the global population today for the same cost as we currently can, if it wasn't because of microorganisms, if it wasn't because of that 1% we already know about microbes. The microorganism behind that was discovered by a Brazilian scientist, and that microbe is capable of enhancing nitrogen fixation to agricultural soils.
Pretty much all of the crops grown, most of the grain crops grown in Brazil, they already one way or another benefit from this technology which saves farmers billions, literally billions and billions of dollars in nitrogen first, which no longer required because of this microbe. They're looking to advance that even further, looking to apply that to other microbes, and there's a lot of interest in the ways to do that. The other very interesting mechanism microbes can help is making more of the phosphate from the soil available to crops.
For example, in Brazil, in tropical soils, when you apply phosphate, a lot of that phosphate reacts with other elements in the soil, making it unavailable to crops. People like to say how you have billions and billions and billions of dollars of phosphate in Brazilian soils, which are there fixed, which became fixated with other metals and crops can't uptake. There are, including aryabhattai does that as well, but there are other microbes, including aryabhattai, which we add into Bio Revolution, which you have papers demonstrating that it can help making some of that phosphate which wasn't available to crops becoming crop available. Then you have other mechanisms which are important in terms of humus formation. Humus plays a key role in a number of physiological aspects of crops.
There's another area of research, and again, there are billions of dollars being spent in this area, which is increasing crop resistance against pathogens, against pests, and also making it more resilient against what's called abiotic stress, which it can be either too much heat or lack of water, too much cold. All of those abiotic stress, there are also elements which microbes can help. If you go on Google Scholar and type in, you know, microbes, agriculture, you're gonna come across a lot of papers with a lot of very interesting mechanisms, and you'll find very interesting how most of them were published very recently. This is something from the presentation I'm gonna be talking about.
The other mechanism microbes are known for, and for the obvious reasons there's a lot of interest in that regard, is biological carbon sequestration. All the way from fungi to bacteria, there are a number of papers talking about that, and I have no doubt this is something else people will be looking to develop over the coming years. The more important than the obvious benefits when it comes to a farmer is how they can make more money by using microbes. It's true that society really cares about sustainability and saving the planet the same as us. When you're a farmer and you're taking all the risk every year of going bankrupt with your business, if results aren't good, if yields aren't good, cost is something very important.
Costs for a farmer will hopefully translate into better yields. The good news is that, yes, there are also a number of papers you will come across where there is significant gains in terms of better yields when you use microbes. Hang on. What am I talking here? Are you talking about this microbes thing? Is this something just Verde knows about? Is this something new? Doesn't farmers know about it? What's going on? You're telling me those microbes, they fix nitrogen. Farmers can save on nitrogen fertilizer. You're telling me it draws potash somehow from the soil, making it crop available. You're telling me crops, you know, are more resistant against pests. You know, is this something magic? What's going on? Why don't more people know about that?
I guess the short answer is it's because to the investment community, let's put it this way, this is a new topic. You don't have many public companies or if, you know, any public company really, or that I'm aware of any significance active in this space. It's not the most exciting topic for the TV and papers to talk about, so you're probably not gonna find it in the first 15, 20 pages of a newspaper. It's something farmers are already aware of and are already benefiting from microbes. To give you an idea, there's something going on in Brazil, which is called the Landless Workers Movement.
You have in Brazil thousands of farmers who are buying their own bio plants, bringing those bio plants to their own farms, setting it all up, buying microbes, inoculants from different companies, multiplying those microbes in their own farms, and then spreading that to the fields. The farmers who are doing that, we're not talking about small farmers. I actually visited one of those bio plants owned by. Well, I wouldn't say the biggest, otherwise, I would say who it is. Let's say by one of the five largest farmers in Brazil. It's massive and very exciting. You know, they're using it and so it's the future of agriculture rather than being something obscure done by organic sustainability people trying to save the world.
It's proper mainstream and, of course, the industry has realized that. You have a lot of money going in. You have some interesting startups launching with different propositions, backed by serious money, and interesting people. There's a company looking to fixate nitrogen that's backed by Bill & Melinda Gates Foundation, among others. There's another one which is backed by the same guys behind Moderna. You have some other ventures which are backed by the players in the space. Until now, the way companies were looking to explore that from an economic point of view or from a market development point of view, was to try to make some money out of growing those, researching microbes, and then selling microbes to farmers.
That was their business model. Okay? Unfortunately, as described, what some farmers started doing was to buy the microbes from those companies, bring them to their own farms, multiply it themselves, and, you know, you buy like a little liter of something, and then they multiply it on their own farms and go and spread it onto the fields. What the sector lacked was an efficient platform to apply microbes. Because even people doing that on farm, the way they currently spread that onto the fields is expensive and not necessarily very effective.
By just putting that into tanks, going into your farm and spreading it on soil, straight onto soil, unfortunately, a very small percentage of those microbes, they can survive, and they will survive in competition with the, let's call it the open soil itself. Some of the companies are trying to add that to seed treatment. The problem of doing it is nowadays seed treatment includes a lot of chemicals, a lot of other stuff that goes onto it, which necessarily isn't the best environment you want to be adding your microbes to. I'll just very quickly stop and ask Louisa if the call is still going and you guys can still hear me. Louisa, is the call okay? Can you hear us? Yeah. Okay.
Let's carry on then. Point one, we did, and it's a shame I can't share my screen or you guys can't see the presentation, but we will be sharing that. We did that and we did it ourselves, which was to research the number of papers published related to soil microorganisms in recent years. We went all the way back from, you know, 1800 something, until nowadays. The number jumps from the 1990s when it was about 10,000 papers were published that year. It went up to 2010, more or less, when over 100,000 papers were published that year, up to 2020 when more than 250,000 papers were published.
The reason we are seeing this exponential growth in research publication about microbes has nothing to do with people realizing the importance. As we saw from Leonardo da Vinci's mention back then, scientists over 500 years ago were already keen to study it. The problem, and this is something else, the market hasn't completely realized yet, the problem is, until very recently, you could only study about 1% of all microbes you have. The reason you could only study about 1% of all the microbes you have out there is because you could only study what's called free-living microbes. Those are the microbes which you take from the soil, put in a Petri dish, and then you can cultivate in lab, and then you can study it. That's the amazing thing about this space. It's the minority.
It's like less than 1% you could study. You could understand what we did. The scientists were very limited about science in that regard. The first improvement scientists had was DNA sequencing. You know, then they were able to start sequencing some DNAs at a modest, relatively cheap cost. You know, it went from costing billions of dollars with the Human Genome Project down to couple of hundred dollars for you to do a full DNA sequencing nowadays. That opened up more interest. The problem when you're talking about your soil is that it isn't enough for you only to understand one microbe, one DNA, one microorganism. You need to understand the interaction of all of them.
The big change came with some companies that very recently launched cheap ways to do what's called metagenomic studies, which is when you can study a whole collection of different microbes, the DNA of different microbes, and then you can use bioinformatics to understand how this is changing and how can you do it. Now, just now, we're talking about, you know, months in terms of this thing becoming more mainstream for researchers are being given the tools they need really to go out there and explore those billions and billions of microbes and understand all the benefits they can be bringing. That's why this is the fourth revolution in agriculture. This is why this is so exciting.
This is why Bio Revolution is so phenomenal because it allows our product with the technology to be this platform. If you think about the fertilizer industry, you know, pre-Bio Revolution. A fertilizer pre-Bio Revolution would be the equivalent of an old Nokia phone. You could use it to make phone calls. That was about it. With Bio Revolution, we're essentially creating or allowing our fertilizers to become a smartphone, to become an iPhone. All of the scientists doing and companies doing amazing stuff in terms of development will be able to be using our platform. Farmers will be able to benefit from that as well. To kickstart the revolution, we already have one microbe, which is Bacillus aryabhattai.
We have three other which are in the process of being approved and being added to the product. When I think more years down the line, I will expect to see a significantly greater number of microorganisms added to it, as well as different products with different specific needs, with different combinations of microbes. The same way a Nokia phone, a conventional fertilizer, a Nokia phone lost its usage, other than my grandmother who likes hers, I hope our product with Bio Revolution will be this platform. That is the presentation we had prepared. It's a shame I couldn't be sharing my screens, but I really hope we can find a way.
Unless Elon managed to join will be able to help us. I hope people can ask questions now. That's it. Or can talk to us. I think we can allow up to two people at a time. I don't know. Jeff, you managed to speak, so let's see if Jeff has some questions. Or Addie or anyone else. I don't know. Tweet a question. I think I might be able to see a tweet if that is how this thing's supposed to work. Hello? Yeah. It seems to work, does it? Oh, I can hear you.
Okay, this is.
I was starting to get a little bit embarrassed. Now think about you in the big stage, you know, there, trying to figure out how to get other people to ask. Thanks for joining me. Please go ahead.
Okay. This is Albert Sung from Correlation Economics, and I have questions for you.
Thanks, Albert. How can you talk? Is there like anyone can unmute the microphone and speak? How did you succeed doing that? Please. Please help me.
They need.
understand this thing works.
They need to click on the request button, and then the mic should be put on if you.
I see.
[Non-English content]
Well done, and thanks for contributing. Please explain again to everyone. If anyone wants to ask a question, what they're supposed to do again?
Click on the request button, but it only works on a smartphone.
Not on a Nokia phone? Not on my grandmother's phone?
Yeah, probably not.
Old fertilizer. Okay. Go. Please ask a question.
Yeah, I have questions on the economics. What is the price per ton of Bio Revolution?
Very good question. At the moment, we are selling it for BRL 39 , so about CAD 10 , when you get it added to the product. However, it seems like we might be able to increase this price by anything from 100%-150% very soon. We're testing the market at this point and we've done some additional studies, so it looks like we'll probably be able to increase a little bit more or significantly more.
Okay, next question.
How much does it cost you? Is that the second question?
Yeah. How much does it cost you indeed incrementally to produce it?
It costs BRL 3, so about $0.80.
Is that incrementally or is that the production cost?
That's the total cost. We produce and get it added to the product.
Okay.
The time is at 10:10. Yeah, you know, that's the sort of margin. You know, it's still everything new. You know, there might be other ways to think about it, but we're still learning new. We already have some other interesting ideas about how to go with this, but that's how it is being launched.
Okay. Next question is how much does it increase the yield? I have seen that we need like half less of the fertilizer used from the patent, so expand on that.
Yeah. I mean, that's something which we will need to wait a little bit longer before we make any official statement. As you've done your diligence and have read some of the information out there, the results can be very interesting. However, with any new technology, we still need more time to be fully able to validate something that significant. Of course, the risk is if you go out there and say, "Yes, this is it for sure," and if it doesn't work out that way, the consequence or pretty significant. We don't want to, and we don't need to take this risk at this point in time. We hope that this is something that will become clear as time progressed.
One might ask, "Well, you know, why don't you fully validate it and from a scientific point of view?" The short answer is, from a scientific point of view, there's a lot we can do and there's a lot we've done, but farmers are very skeptical. Farmers are very innovative and they're bombarded every day with different products and different technologies offering everything you may imagine in exchange for some money. Farmers will really wanna see it on their fields, on the actual results before they fully respect or validate or accept this.
I think the more you might be excited about what you've been reading. I think we need to be conservative here and allow farmers to reach some conclusions like that as well and in very large scale before we as a company can go around the market product like that.
Okay. What percent of total production capacity will you be using for Bio Revolution?
Very good question. On plant one, theoretically we are already capable of adding it to 100% of the production. I say theoretically because we're in ramp-up mode as well. We'll need to wait as well and see exactly what percentage it would be. I am confident the ramp-up will be successful and will be able to be done in a relatively short period of time. For plant two, we hope by the end of the year we will be able to start adding microbes on plant two as well.
For the obvious reasons, the focus on plant two has really been to complete phase I of plant two as soon as possible, whereas at the same time trying to accelerate phase II, i.e., the additional 1.2 million tons of production we're putting on top of the 1.2 million tons we're already building. After those two is when we hope to really be able to concentrate on adding microbes.
Okay. The last question is about licensing. What are your thoughts for that?
Early days. I think with any licensing, you know, you really have to if you wanna get recognition and value and be negotiating from a position of strength, you really need to completely validate what you're proposing and prove it and scale it. Then I'm pretty sure there will be a lot of very interesting decisions and opportunities to be had. I mean, I have no doubt that lots of those very exciting companies investing a lot of money coming up with microbes will appreciate the importance of our technology and how this smartphone analogy will hopefully be not just applying from a conceptual view, but also from a point of view in the very short term.
Okay. Thanks for answering my questions.
My pleasure. Thanks for joining, and thanks very much for helping us to understand a little bit more or better how to use this new space here, this new Twitter Spaces. Thank you.
Cris, can you hear me?
I can hear you.
Two questions for you. Thanks for doing this, by the way.
My pleasure.
One, I'm curios.
Thanks for joining.
I'm curious about two aspects of this Bio Revolution. The first is identifying the microbes that you put into this product. How challenging was that given the, you know, the preamble that you gave us about 10 minutes ago about what sort of science or lack of has occurred around the space? My second question is pertaining to actually mixing it in with the glauconite. How challenging is that? Is this like making a soup at home, or is it much more complex from a chemistry perspective? Thank you.
You're welcome. Thanks, Jeff. It was difficult, but not, you know, not very difficult. What we tested and we carry on testing other microbes. This one, this specific one, Bacillus aryabhattai, I personally like it for a few different reasons. There are very interesting papers. If you type in the name of it on Google Scholar, you will see the number of very interesting papers you have published about what it can do. Part of research is really making sure it does what it's supposed to do. A lot of that you can rely on papers. Some of it, you will be needing to rely on long-term field trials.
Those are some of the strongest statements we hope in the next few years we and other people are gonna be able to make about it. The question about how easy it is to deploy the technology. It's not easy, but it's also not you know. It's far easier than trying to land a rocket back on Earth. That was the key result we had, you know.
Like, because I remember from earlier on talking to people about what we wanted to do, and the consensus, what I heard from pretty much everyone I spoke to was, "Well, you know, you're gonna do that, but then the microbes are gonna die." You're gonna need to do it and apply straight away, otherwise the microbes are gonna die. How are you gonna be able to manage that? But we had some other technology. We kind of had done some work alongside where we had learned some of this stuff, so we were relatively confident that results would be possible.
When we started measuring, you know, weeks after weeks, and we saw how microbes would remain alive all the way up to months, and we stopped the experiment after six months. Not because we think they will die afterwards, just because it's expensive to keep measuring them, and I mean, when we produce, you know, essentially all our product, what's produced, gets delivered the same day or the day before. It's so. I can't envisage any scenario where we would have our product in stock or even a farmer would have our product in stock for longer than six months. That's. Those would be the answers to your questions, yeah. Thank you. I'm hoping we have more questions.
If anyone wants to ask a question not just about Bio Revolution but about the company itself, please feel free.
Hi. Cristiano?
Yes.
About the first bacteria you're adding, its primary purpose is to make the phosphate or, I'm sorry, the potash more available? Also, will you be doing studies to see if the bio or the bacteria add to the carbon absorption capacity of the soil so that farmers could get carbon credits for using these products?
The answer to your first question is, it is one of the mechanisms, but there are other mechanisms and I would encourage you to go and read about it. Someone sent me a very interesting paper last week, showing how someone proved that Bacillus aryabhattai can be used for soil bioremediation. The first time I you know okay well you know how what how you know soil bioremediation. Oh, okay, you know, is there like you know soil that was used for industry that's contaminated that people are gonna come and. You know, it's a bit different to that. You know, it's all the residues of herbicides and pesticides and from chemical agriculture and how that can help. That's what was being tested.
This specific paper was testing the microbe on something called glyphosate. Glyphosate is a herbicide, was developed by Monsanto. It was sold as Roundup, and it was later on linked to cancer by some researchers. Monsanto, there was litigation and I think for the first time ever an agriculture company or you know an agrochemical company was ruled to pay because of herbicides like that. That company was taken over. Monsanto was taken over by Bayer. This shareholder sent me an article showing how Bayer had already set aside about $15 billion just on litigation in connection to cancer.
I was talking to him. He was saying, "Well, what about all the residues? All the residues in the soil? You have a microbe. There's research. Are you guys looking into it?" My answer was, I had a chance. Haven't had the time or the potential to focus on that specific potential. It's good to see the interest of independent researchers, and I think this will help us accelerate and learn more from other opportunities. I think that just proves the point. I just think that just really illustrates what an amazing new world we're talking about. It's phenomenal and it's so exciting. I'm so excited.
When I went to the plant to see the startup of this biogas plant, I had with me one of our customers who you know we're visiting some other customers in the area which together. This other customer, he's a bit, you know, he's a fantastic guy and has won awards as having the better yields in Brazil. You know, they will do all those competitions to see who can harvest more. He held the record, had won a competition.
When the two of us went and saw it, you know, like, saw the process, you know, the microbes being added, touching the product microbes, it was literally like two children in a candy shop, able to buy and get whatever they wanted in terms of the excitement, you know. With people then, they were looking at us. This is the level of excitement we are with the benefits this will bring to farmers and the whole potential this has. That was a very long answer to your question, and I would like to answer your second question. However, I've forgotten it. Would you mind repeating, please?
Yes. Are you doing studies on the carbon sequestration capability of bacteria? Would farmers be able to claim credits?
We're not at the moment. I've received a couple of proposals from scientists to explore that, one from a university in Brazil, another one from a university in Canada that seems to have done some similar types of studies. The answer is not yet, but it's on the radar. There is another researcher in the U.K., but it isn't really about microbes. It's more about what he calls bioweathering. Essentially, he has seen that when you apply a ground up silicate as part of the weathering, it will be absorbing carbon and fixating that. He did some, you know, calculations.
The numbers are pretty interesting in terms of what can be done. Again, there's more research which needs to be done before you can prove that. I feel like there is. We will, okay, we all here as shareholders will be able to benefit somehow via those technologies and by what's going on. I think there's a lot of potential. However, after speaking to some people, a little bit of my feeling is that it might still be a little bit early days from a regulatory point of view. And more research will be needed regardless of what's going on.
The voluntary carbon credit market at the moment is a little bit like a Wild West, with people making a lot of claims and companies using a lot of those claims for marketing. I know at least of a couple of cases where this has gone wrong and hurt credibility for a bunch of people. I would hate to put at stake everything we've built over the last 17 years and just you know, to try to be the first ones jumping in this new trend. It's something we will carry on developing, but being very careful that whenever we make a statement, whenever we go out with something, that it would be bulletproof, as we've always tried to be with our launches and products and technology.
Thanks. In conclusion.
My pleasure.
Your key selling points to farmers right now are. What would you say the key selling point you're gonna make to customers now would be?
With microbes?
Yes.
I mean, it's. There's so much the microbe can do, it's really, like, crop and situation specific. That's why I again, it's a little bit like an iPhone in that answer, isn't it? If it's a let's say, a grower with very low potassium in the field, growing a crop with short term crop, I don't know, potato or something like that, and wants to use our product. For a farmer like that, we can say that the product will accelerate the availability of potash from the product itself. However, agriculture is so vast that there's many different situations. You know, like looking at what the shareholder had shared with us from that paper.
You have some people who want to convert their soil to organic culture. You know, you have the residues issue, so perhaps that's another market. You have some areas, for example, fruit, vegetables, where you have so much phosphate and then they know how much of it is already in the soil and a lot of plant available. That alone you have another possibility. There's some, like, interesting stuff with nematodes as well, which is another big problem in tropical agriculture. It really varies depending on the specific needs of a farmer.
That's why in our presentation, I think there's that statement there where we talk about providing sustainable solutions with a combination of crop and microbes carefully perfected to the specific needs of each crop and soil.
Fair enough. Yeah, it does sound like a bit of an abstract situation based on whether it's a forage crop or an annual, and I'm excited to be on this journey with you. Thanks again.
My pleasure. Thanks for the questions. Ladies and gentlemen, any more questions? I think we have time for one more. I don't know if someone's. Oh, one request here. Omar, thanks for participating. Please go ahead. I think you're on mute, so you need to unmute.
Yes. Hi.
Yes. There we go.
Perfect. Thank you.
Hi. Thanks for participating.
Yeah. My question is a quick one really. What is the timeline with regards to the products? You spoke initially about one microbe being utilized and then a rollout, a continuous rollout for up to three others are coming. Just wanted to know when that will happen. Thanks.
I hope. Thanks. Thanks for participating. I hope it will happen this year. That's our target. It's all new, so from a regulatory point of view, some of it is new as well. There might be some hold-ups. I hope not, but that would be the target. Thank you. Thank you for the question. Ian, you've requested to ask a question as well. How are you?
I'm very well, thank you, Cristiano. Greetings from Europe. Two questions, if I may. The first question being, would it be right to assume that these microbes would not be compatible for use with regular traditional potash with a chlorine content?
I would think so. I don't know. I didn't test, but I would think that would be a problem, yes.
I mean, that should and could give the company significant advantage, especially from a license point of view, if the feedstock is compatible.
Yeah.
Good. Then the second question, I'm afraid you may have brought this upon yourself. You invited more general questions about the company. May I say, may I ask, how are sales? How is your plant 2 stage 1 build progressing?
Sure. Plant two, it's on track. Our guidance to get it commissioned by Q3 this year stands. I hope we execute on that one. I have no reason to believe it won't. The other question you asked about sales, how our sales are going. Our sales are going very well, which probably isn't a surprise for you guys, who have been following us. You know, anyone contacting us to try to buy product will hear from our sales team that we are sold out until July at least, for product deliveries. I don't think that's material and disclosed information because anyone in the public could have contacted us and tried to buy product and be told there is no availability until July this year.
Sales are going well.
Okay. May I offer my congratulations to you for the urgency with which you are progressing things and the best of luck. I look forward to, I think, a communication on Wednesday, the 25th of May with a little bit of an update.
Yeah. Thanks very much. It's a joy and a great pleasure to have all you guys as fellow owners of Verde AgriTech. I saw there is another request here, so let's allow Condorito to ask a question. Thank you, Ian. Condorito, please talk to us. How can we help you? You're on mute.
Sorry. Hi, Cristiano. This is Jean-Philippe from Arauca. Thank you very much for the time. Congratulations for-
My pleasure. Thank you.
for everything. I have a question regarding capital allocation, if I may.
Yes, please.
Look, you gave guidance $0.87, assuming 1 million tons on sales, and that's given $500 on potash, which we know is even more than double, or has been more than double for a lot of time, and it will be substantially higher at least for the immediate weeks, months, or who knows, at the end of the year. That's just for 2022. When we go to 2023, you gave around 2 million, so that will be at least double and not assuming the potash price.
Would it make sense to make a substantial buyback of the shares right now at these prices, given that anything above BRL 500 is not even including in our mind or including in your mind, that would be extremely accretive if the execution continues as it is for the future. I just want your thoughts on that. Thank you.
Thanks for the question. Thanks for your interest. We have an independent board committee that is working on that. We made an announcement earlier this year launching our Paid for Growth program, and they will be able to make an announcement at some point as well. There is yeah, I think there will be an announcement and then. You know, they're looking at buybacks, dividends, a combination of both, none of them. Hopefully, we'll know more about that soon. I do hear what you're saying and appreciate your comments. Ladies and gentlemen, I would like to thank you all for attending our very first attempt to do a Twitter Spaces.
I'm sorry Elon hasn't allowed us to share our screen, but I trust this hopefully will change. You know, it can also be used for investor presentations, sharing some more media rather than just being a conversation. Having said that, I equally enjoyed the questions, the comments, and having had this conversation. Thank you very much for your interest and I look forward to talking to you again very soon. Thank you very much. Bye-bye.