Transcript was automatically generated.

00:00:00,560 –> 00:00:14,780 [Frank Curzio]

How’s it going out there? It’s Wednesday, December 8th. I’m Frank Curzio, this is the Wall Street Unplugged podcast where we bring you the headlines and tell you what’s really moving these markets. 

00:00:14,780 –> 00:02:50,870 [Frank Curzio]

Have a great interview lined up for you today, just Michel Lamarre, CEO of DigiPowerX. It’s a stock most of you should be familiar with because I had Michel on this podcast where I interviewed him in April. The stock was around a dollar, it’s over $3.50 now. It’s gotten higher, it’s pulled back a little bit, along with some of these AI names. And I wanted to have him back on because the next three months, the catalysts that are coming are very, very important, that are gonna change the landscape of this company. And if these catalysts are met, which I believe they are, you can determine that after you see the interview, it’s going to drive the stock significantly higher from where it’s trading today. You may be asking how high. Well, I’ll let you determine that, because we’re looking at a company with a $250 million market cap, with assets that are worth two and a half billion dollars. And I’m not talking about these crappy assets, I’m talking about megawatts of power. It’s the most valuable asset in the world right now. Hyper scalers are dying for it, so much so that they’re signing up deals for SMRs that the technology and some of these uranium deals and Three Mile Island aren’t going to be available for four or five years from now. Right? These guys have the power now. It’s not just 200 megawatts of power, they have the ability to scale up to 400 megawatts of power. If you do the math, this is a Bitcoin miner where you’re looking at tier one assets that are probably going for a million dollars for your Bitcoin miner per, per megawatt. They go from 10 to 15 million per megawatt once you convert. And those are the catalysts that are coming. The first conversion is coming, and they’re talking to some of the biggest hyper scales in the world. If they’re able to get through these three months on time, changing those assets for tier one to tier three and they sign up someone, which they say you’re gonna hear, I got to talk to Michel right now, he’s gonna say he’s in negotiations with some of these guys, he’s talking to them right now. Uh, this is a stock that could easily re-rate and give you a 5X, a 10X. I’m in it personally, I have a massive, massive position in it. Uh, I think a lot of you have positions in it early. Again, it was a lot higher, it was nice, maybe got a little bit ahead of itself, but now with these catalysts coming up, I wanted to talk to Michel personally to see, hey, what’s going on with the company. I want him to be more transparent with his shareholders, because what I hear and I have access to him, and I see a lot of people who follow him, uh, through social media on Twitter, they don’t have that much access. I’ve been to his house three different times, right? I’ve seen him personally. Uh, I know him very, very well and he’s a good guy, and now they’re looking to hire a PR firm, get more information out there, be more transparent. We’re gonna go over all this in the interview. And you know what? Let’s get to that interview right now. Michel Lamarre, CEO of DigiPowerX. Thanks so much for joining Wall Street Unplugged. How you doing? 

00:02:50,870 –> 00:02:53,800 [Michel Amar]

Good morning, Frank, I’m doing great. 

00:02:53,800 –> 00:02:55,260 [Frank Curzio]

Great to see you again. 

00:02:55,260 –> 00:02:55,960 [Michel Amar]

Yeah. 

00:02:55,960 –> 00:03:13,080 [Frank Curzio]

Great to see you again. Uh, so, so I interviewed you in April. Y- your stock was at a dollar. Then again in June, the stock was at $2.50, $2.75. Today, shares are trading close to $4. I, I guess let’s start with this. What’s different with your company today compared to, say, six months ago? 

00:03:13,080 –> 00:04:42,230 [Michel Amar]

So I would say the major, uh, difference today, um, we reach, uh, liquidity, uh, through a, uh, a series of, uh, serious investors. Um, a month, a month and a half ago, um, as you’re aware, Citadel and Kent Griffin filed a 13-G and announced that they were, uh, investors for the company. Uh, they invested, I think, uh, $15 or $20 million, and, uh, then followed many, uh, institutions. So, so the big difference from a year ago or six month ago, we had basically only retail investors, low liquidity. Our volume average was about, uh, 60 to 100,000 shares a, a day. Uh, today, our average volume is about five and a half million shares a day. Uh, that’s a tremendous improvement. Because we are liquid, uh, investors feel comfortable. They know they can get in and out if necessary. And, uh, we, we are complete different company. We are liquid, the institutions are with us, uh, they are expecting, uh, uh, catalysts, uh- 

00:04:42,230 –> 00:04:42,230 [Frank Curzio]

Mm-hmm 

00:04:42,230 –> 00:04:47,840 [Michel Amar]

… and when these catalysts will occur, then, uh, you’ll see, uh, huge liquidity in our stock. 

00:04:47,840 –> 00:05:30,020 [Frank Curzio]

Let’s talk about those catalysts, because you, you have a lot going on with your company a- and this transition from tier one to tier three, yeah, you’ve been working on this very early on compared to your, your competition. Uh, talk about the progress. I think that’s what’s really gonna drive your stock higher going forward, because, you know, you talked about the progress and I guess also the timeline since a lot’s expected to happen over the next three months, right? Q1 2026, including activation of your first ARMS200 Tier 3 dataset, the pod. Uh, you know, talk about the progress, ’cause I think, you know, if you’re coming down to that timeline and you meet those timelines, you know, your investors, uh, uh, and followers are gonna be extremely happy, you’re gonna see this progression. But talk about the timeline, how everything’s working out. Is it still scheduled for Q1, uh, for next year? 

00:05:30,020 –> 00:06:17,142 [Michel Amar]

Absolutely. So, so our first, uh, ARMS200 proprietary, uh, uh, system, uh, is getting, uh, set up as we speak this month, will be tested early January, and will be active, uh, towards the second half of January. Um, early Q1, we will start to be operating and, uh, we will share, of course, uh, this, uh, new AI-ready modular, uh, system, uh, that we built, uh-It took us over a year between design, uh, uh, being, uh, rated three, so it’s, uh, up to the standards of AI Tier 3 data centers. 

00:06:17,142 –> 00:06:17,812 [Frank Curzio]

Mm-hmm. 

00:06:17,812 –> 00:06:25,572 [Michel Amar]

And, uh, we will be implementing them, uh, this month and early January. So we are progressing, uh, as planned. 

00:06:25,572 –> 00:06:27,102 [Frank Curzio]

Great. 

00:06:27,102 –> 00:06:32,112 [Michel Amar]

Um, a lot of action, and it’s a big catalyst for us. 

00:06:32,112 –> 00:07:12,152 [Frank Curzio]

No, very much so. So, you know, I ha- you have a lot of followers on X that actually, you know, uh, that, that have followed me i- into the stock as well, and some really good, you know, young investors that are analyzing the stock, really great kids and stuff. Uh, and some of ’em adults. Uh, yeah, they were asking questions, and I said, “Okay, if anyone has questions.” And one of their questions, which I thought was interesting, was, was the Smith Micro partnership. I mean, how’s that going? It’s the first B200 GPU cluster. Uh, how is that progressing? Because this links to something that you’re very proud of, which is, uh, you know, your NeoClouds platform that’s a retail computing platform, which is gonna allow everyone on, basically on-demand access to, to all your GPUs. Uh, how is that progressing with Smith Micro? Uh, is there any news coming out o- on that as well? 

00:07:12,152 –> 00:07:24,032 [Michel Amar]

S- Supermicro, correct. So Supermicro is, uh, is, uh, has been a very good partner to us. You know, they are the largest, uh, today, uh, global server supplier. 

00:07:24,032 –> 00:07:24,222 [Frank Curzio]

Mm-hmm. 

00:07:24,222 –> 00:07:46,592 [Michel Amar]

Uh, I think they close to $45 billion. So we are leveraging our relationship, uh, to get all the necessary support, uh, on site for the setup of our modular system. And of course, on the software side with our new platform that we, uh, created called NeoClouds.com- 

00:07:46,592 –> 00:07:46,812 [Frank Curzio]

Mm-hmm 

00:07:46,812 –> 00:08:49,032 [Michel Amar]

… which will be active as well, uh, in the next few weeks, where you will be able to, uh, to rent GPU at the service per hour. Uh, a little bit like, uh, some of our competition out there, CoreWeave also on. And, uh, that would allow us to offer two different services. Colocation, where we sign a long lease, and we, uh, we rent our infrastructure. Uh, a little bit like Terawulf and Cipher, uh, just did, uh, in, in, in the last few months. And GPU at service, where we rent the chip, uh, the B200, B300, and other, actually, other chips, uh, in the pipeline, like the AMDs, that are, you know, uh, uh, not as efficient but, uh, much, uh, lower prices. So we set up a, a, a dual strategy at that level. 

00:08:50,271 –> 00:09:52,162 [Frank Curzio]

Yeah, talk about… Because once this is set up, the next step, obviously, is, is to get these big clients, which are the hyperscalers. You say in your last report, your Q3 report that came out a couple of weeks ago, that you’re in… You know, you’re talking to them, and you’re very careful to say, “Look, it doesn’t mean it’s gonna amount to anything.” Could you describe what those talks are about? Because I see these hyperscalers as, uh, you know, you’re looking at Microsoft, uh, even Amazon. Especially Microsoft, they’re buying power where it comes to SMRs, they’re buying power when it comes to nuclear, Three Mile Island. Power that’s not going to be available for five years. When you have existing power, it seems like once you transfer to Tier 3, you’re going to do it a lot sooner than these guys. What’s the holdup for them actually signing this? Because you’re not talking about 20 megawatt project. I mean, you have 400 megawatts, almost 400 of total capacity and, and of course that’ll come online maybe by 2028, 20- whatever it is. But it seems like that’s a gift for an asset that they’re in dire need of right now. What’s the holdup of some of them actually saying, “Okay, hey, we’re going to actually so-” Are they waiting for something? Are they waiting to see the transition? They’re waiting for the Q1? I mean, what are they waiting for to actually sign these deals with you? 

00:09:52,162 –> 00:11:08,012 [Michel Amar]

G- great question. So, so, uh, today, just to clarify, the, the power that we have online today is about 200 megawatt. We got, uh, two, uh… We got one load study in Upstate New York that got approved for an additional 60 megawatt at the power plant. And we updated our website so you can see it there. We are at 123 megawatt at the plant. Um, and i- it’s great because it’s, uh, it’s really green power, all hydro power, the 60 megawatt. And then we got a, uh, an increase in Alabama from 55 to 70 megawatt. Uh, uh, so basically, between the three sites, we have online today 200 megawatts that we could convert or pivot to, uh, to AI infrastructure during 2026. And then, uh, uh, 2028, we have an additional 200 megawatt in North Carolina. So to go back to the, uh, to the, uh, great catalyst of, of customer contracts, we are talking to all the customer currently. And basically, we have an overwhelming- 

00:11:08,012 –> 00:11:08,552 [Frank Curzio]

Mm-hmm 

00:11:08,552 –> 00:11:21,611 [Michel Amar]

… demand of our infrastructure and, and it’s up to us to pick and choose carefully what deal we’re going to sign on a 10-year or 15-year deal. 

00:11:21,612 –> 00:11:21,771 [Frank Curzio]

Mm-hmm. 

00:11:21,771 –> 00:11:47,612 [Michel Amar]

Because when you sign a 15-year deal or 10-year deal, you’re, you’re, you’re kind of locked in for 10 or 15 years. So to make sure that we are getting the right, uh, deal is important, number one, uh, because we are looking at long term. We’re not, uh, uh… We don’t need the instant gratification. As far as competition, there’s no available infrastructure in the near term. 

00:11:47,692 –> 00:11:47,972 [Frank Curzio]

Hm. 

00:11:47,972 –> 00:12:16,534 [Michel Amar]

No one is sitting with the infrastructure waiting for a customer. Okay? So, uh, the second point, which is very important, is that prices are going up in AI data infrastructure. They are going up. So if you look at the report from Bitfarm, uh, the last report-They’re actually waiting few months to get 30% to 60% higher, uh- 

00:12:16,534 –> 00:12:16,534 [Frank Curzio]

Okay 

00:12:16,534 –> 00:12:56,364 [Michel Amar]

… contract with customers, because all the components, every components for an AI infrastructure is, uh, rising up. And, and we, we are sitting in a good position, uh, in a sense that we have now on the table four or five offers, at least four offers on the table, and we are trying to decide which one makes the most sense for us as a company to protect shareholder’s, you know, shareholder’s values. And, and, and, uh, and, and I think this is our interest to make sure we pick the right customer and the right contract. 

00:12:56,364 –> 00:13:26,944 [Frank Curzio]

It’s interesting you say that, because when I look at a company like CoreWeave… And I consider CoreWeave different from the hyperscalers. CoreWeave tried to buy Core Scientific, and when I look at the numbers… I’ll get to the valuation in a second, but is that something? Because if you, if you’re in negotiations with these and you’re kind of choosing and saying, “Okay, we have…” You know, they’re probably very, very large companies, we, we know the hyperscalers, right? They have deep pockets. If you have the, the right to pick and choose when you have this demand on the table, is CoreWeave come like they came at Core Scientific and they rejected that deal? I think it was nine billion. 

00:13:26,944 –> 00:13:27,024 [Michel Amar]

Yeah. 

00:13:27,024 –> 00:13:32,174 [Frank Curzio]

Uh, it’s just interesting. Uh, are you seeing anything from that? And I don’t know what you could disclose. I, I know, you know, you’re a publicly traded company. 

00:13:32,174 –> 00:13:32,184 [Michel Amar]

Yeah. 

00:13:32,184 –> 00:13:51,504 [Frank Curzio]

It’s just for me, thinking about it seems like CoreWeave, if they knew that you were in line to get… You know, talking to four people and you have all this, this kind of puts them in the Core Scientific. And they have, I think, 1.3 megawatt, or what was it? 1,300 megawatts of power, and I think it was 900. But I’m just curious, is it… You’re getting it from both sides as well, or just from, like, those hyperscalers? 

00:13:51,504 –> 00:14:28,474 [Michel Amar]

So, so, there’s a, there’s, there’s few known, uh, um, brokers, and you can read it in the, in the, in the PRs. The brokers that, uh, brokered the deal for TeraWulf or Cipher. Uh, so we are talking to all, all the players, of course. And, and what makes a player different from another, as far as the customer contract is, one is willing to give you better guarantees, uh, security. So if you look at the, the deal with, uh, with TeraWulf, it was backed by Google, correct? 

00:14:28,474 –> 00:14:28,694 [Frank Curzio]

Mm-hmm. 

00:14:28,694 –> 00:14:45,424 [Michel Amar]

So it’s a very secure deal, okay? And, and when we are exposed to few deals, uh, what is the best available deal for us? Security, for sure. It’s very important that we are secure, that we’re gonna get paid for the next 10 years or 15 years. 

00:14:45,424 –> 00:14:45,944 [Frank Curzio]

Mm-hmm. 

00:14:45,944 –> 00:15:31,114 [Michel Amar]

And then we can bank on it. Then are they gonna provide, you know, cash deposits? Two months, six months? That also play into the, uh… In, in, for us to make a decision. So we are, we are exposed to different deals, we are talking to all the players. Uh, a lot of these guys, uh, have more on their table that they can supply. They, they can’t, they can’t fulfill the, the order book that they got. So, so CoreWeave, for instance, who was relying on the, on the Core Scientific, lost all the Core Scientific, uh, power, uh, infrastructure. So they have to replace it. So they’re, they are, they’re kind of struggling to replace, uh- 

00:15:31,114 –> 00:15:31,114 [Frank Curzio]

Mm-hmm 

00:15:31,114 –> 00:15:44,293 [Michel Amar]

… what they promised for their customers, specifically Microsoft. So I think we’re in a good position. Uh, we, we, we can’t make, uh, uh, uh, you know, light decisions. We have to make a right decision with the right customers. 

00:15:44,293 –> 00:15:44,304 [Frank Curzio]

Mm-hmm. 

00:15:44,304 –> 00:16:36,974 [Michel Amar]

But I would say that it’s, uh, imminent. Uh, in the near future we will, uh, uh, start to announce, uh, uh, contracts and develop, uh, as much as we can and scale up to 200 megawatt online, uh, in the near future, the next 12 to 15 months, and then we’ll keep on going. And that will increase our value. As stated in the past, a, an AI infrastructure, uh, per megawatt is worth anywhere from $12 to $15 million per megawatt when it’s finished and functioning, as, as a lease option, co-location option. So if we, if we convert this 200 megawatt in the next 12, 15 month, 200 times $12 million a megawatt, that’s $2.4 billion right there, okay? Just for infrastructure. Then you have the, uh- 

00:16:36,974 –> 00:16:37,794 [Frank Curzio]

And your market cap is- 

00:16:37,794 –> 00:16:38,564 [Michel Amar]

… data processing 

00:16:38,564 –> 00:16:41,524 [Frank Curzio]

… 250 million right now, right? Roughly, right? So… 

00:16:41,524 –> 00:17:01,904 [Michel Amar]

So, so CapEx, uh, the, the first CapEx is for Alabama. Uh, I would say that CapEx, because we are already online and we invested in the past, uh, as a tier one, I would say that, uh, uh, uh, our upgrade from tier one to tier three will cost us around $3, $3.5 million a megawatt. 

00:17:01,904 –> 00:17:01,964 [Frank Curzio]

Mm-hmm. 

00:17:01,964 –> 00:17:26,944 [Michel Amar]

So, uh, if we develop, uh, uh, 70 megawatt in Alabama, which is about 50 megawatt of IT load, that will cost us about $175 to $200 million of CapEx there, because we already have the base. And then we have to develop New York as well, and, uh, and convert, and that will increase our value dramatically just from the, uh, infrastructure point of view. 

00:17:26,944 –> 00:18:02,634 [Frank Curzio]

I mean, you can confirm, this isn’t just a pie in the sky evaluation by, you know, guy s- like some CEO, right? ‘Cause when, when you look at… What we look for as analysts is we look for comparisons. In the CoreWeave, I mean, they looked to buy Core Scientific, and like you said, it’s, it’s… You could get anywhere for tier three from $12 to $15 million per megawatt but, you know… And we know Co- uh, we know that Core Scientific doesn’t have like those tier three, right? They’re not available tier three. But that nine billion valuation and that nine billion they want to take over Core Scientific for, it was for about 900 megawatts of that power. Again, a lot of it’s not tier three. And, I mean, that amounted to $10 million, right? So just that $10 million- 

00:18:02,634 –> 00:18:02,634 [Michel Amar]

Mm-hmm 

00:18:02,634 –> 00:18:23,720 [Frank Curzio]

… when I look at you having f- close to 400 million in megawatts power, you know, and say, say we just take the 55 million, like you said, and going to, to, you know, a conservative of $10 million, I mean, it’s $550 million, and you’re sitting in a market cap of 250 just for the first 55 megawatts, which-I think you said that should be finished by the end of 2026 to 55 megawatts, is that correct? 

00:18:23,720 –> 00:18:26,860 [Michel Amar]

That’s correct, we’re going to scale up to that number, yes. 

00:18:26,860 –> 00:18:30,340 [Frank Curzio]

And you’ve got, scaled to that number which… Wow, that’s incredible. So, and then you have- 

00:18:30,340 –> 00:18:38,420 [Michel Amar]

And, and, and we got an increase from 55 to 70 megawatts. We just got an increase, an additional 15 so we’re at 70 now in Alabama. 

00:18:38,420 –> 00:18:40,520 [Frank Curzio]

And that’s for 2026? 

00:18:40,520 –> 00:18:41,279 [Michel Amar]

Correct. 

00:18:41,280 –> 00:19:00,100 [Frank Curzio]

So let’s go to 2027 a- and, you know, again I don’t want to get too far out, I don’t like going past two years ’cause anything could happen, credit crisis, you know, COVID, whatever, you know? T- two years out is not that long. You know, 2027, how many megawatts would be tier three? And you have another, I believe, 200 megawatts coming online from North Carolina in 2028, is that correct? 

00:19:00,100 –> 00:19:15,080 [Michel Amar]

Correct. So, so for 2027, our plan is to… We’ll start in 2026, uh, Q4, but u- our plan is to convert the 141 megawatt we have in, uh, in Upstate New York. 

00:19:15,080 –> 00:19:57,860 [Frank Curzio]

Okay. Now, when I look at the megawatts of power, there’s a question I need to ask you. I’m a r- I’ve grew up in New York all my life, I’ve been in Florida for the last 12 years, 13 years. Lately it’s a nightmare when it comes to politics there, when it comes to bureaucracy there. You have a lot… You know, your power, I think it’s 140 megawatts of power i- in New York which, uh, you know, which is a big part of this thesis. Do you see regulatory issues? I felt like this quarter you came out with positive news on New York, but I feel like there has been struggles i- in the past. Is, is it easy for them to deal with to get this online? Is it just a pain? Because i- sometimes they don’t even want a solution, they just want to make it, you know, it’d be a pain in the ass in New York, just to be a pain in the ass. But, you know, is there a problem with New York? Do you see New York coming online quickly? Is it a little more difficult? 

00:19:57,860 –> 00:19:57,870 [Michel Amar]

Actually, actually- 

00:19:57,870 –> 00:19:59,460 [Frank Curzio]

How’s that situation? Mm-hmm 

00:19:59,460 –> 00:20:09,640 [Michel Amar]

… actually, uh, Frank, we are very close to TeraWulf, uh, our site, Upstate New York. And there’s some kind of a, a pivot also in New York State. 

00:20:09,640 –> 00:20:10,100 [Frank Curzio]

Mm-hmm. 

00:20:10,100 –> 00:20:15,680 [Michel Amar]

Uh, they are, they’ve become pro-AI data centers. 

00:20:15,680 –> 00:20:16,440 [Frank Curzio]

Hmm. 

00:20:16,440 –> 00:21:52,580 [Michel Amar]

They became pro-power. Uh, a- and the reason why they became pro-power, u- a new study came out of EISO studying that there’s not enough power investi- investment in New York State. And, and New York is experiencing a very big problem of power supply. And that’s why our power plant, actually yesterday, was running from the grid, uh, at the very high price. Meaning they are paying us a lot of dollars to get our power because there’s not enough power plants, uh, in New York State. I think there are about th- 38. And, and two, there are no new investment in New York State. They got so scared of New York regulatory, uh, uh, issues that they placed their investment in Texas, in other states, but not in New York State. So, so New York State is really behind, and now they have to play catch up and they have to favor and push power in New York State in order to cope with the demand. So, so I think it’s a reversal there. Uh, they are very, very AI friendly now. Um, they are very AI, even SMR friendly. Uh, I just want to, to remind everyone that, uh, last year we, uh, filed an IFRF, uh, RFI, I mean, uh, with the, uh, with not only clear about a, uh, an SMR so we can get grants. I think we filed for a grant of $350 million- 

00:21:52,580 –> 00:21:52,920 [Frank Curzio]

Mm-hmm 

00:21:52,920 –> 00:22:25,580 [Michel Amar]

… to replace eventually our turbines, our gas turbines with, uh, uh, SMR turbines so we can have clean energy. So, so we are, we are on the right path here to not only, uh, supply power, but to supply, uh, green power. We already got this, uh, load study approved for 60 megawatt which is 99% green. It’s hydro, wind, uh… So, so we are, I think we are in a very good, uh, position in New York State. Um, good reversal there. 

00:22:25,580 –> 00:23:22,460 [Frank Curzio]

What are some of the risks you see? Because someone from the outside looking at this stock for the first time is seeing like, wow, these guys have, you know, 200 megawatts, could scale up to 400 megawatts. Massive asset that the biggest companies in the world with the deepest pockets are in dire need for just because they’re signing m- you know, SMR deals and nuclear deals five to 20 years out. Again, a lot of that power is not going to be available, SMR’s not going to be available probably 2028, 2029, from what I hear from my insiders a- f- from in, in uranium industry. Uh, you know, talk a little bit about, about that part in, in terms of, uh, you know, uh, just how do you get, I guess, more attention to your stock here? Because when I’m looking at everything together, it’s getting more attention, a lot of people don’t really know about it. How do you get more people involved? I know you said, you know, in your PR as well, you know, bring all that together for me if you can because, uh, now you’re seeing more and more people come online, you’re seeing big investors coming to your stock, which you get to in a minute, but how do we bring this all together and what are some of the risks you see going forward? 

00:23:22,460 –> 00:23:35,659 [Michel Amar]

So, so the, the, uh, I would say the biggest, uh, uh, challenge which we are overcoming is the, uh, the fear of dilution to finance the expansion of the business. 

00:23:35,660 –> 00:23:36,080 [Frank Curzio]

Mm-hmm. 

00:23:36,080 –> 00:25:44,004 [Michel Amar]

And some people were complaining about the, uh, the other market, uh, raises that we did, uh, in the, the last few months, and I understand their feeling. I want to really reiterate that I’m one of the biggest investor since 2016. Uh, I invested $8 million of my own personal dollars that I never, you know, recoup. It’s there in the company. That’s one. Two, in order to create liquidity, in order to, uh, to leverage and have access to line of credits, in order to pick…To finance the expansion through equity versus debt. If debt is dangerous or debt is too high, you need a minimum of cash, which, uh, we actually realized in the last few months. I think we have a little bit over 90 million dollars cash and no debts, which is extraordinary. So, so people complain and say, “Oh, but you diluted.” But while we diluted, we created two strategical, uh, uh, uh, consequences. First, we have liquidity, 40X or 50X liquidity, which is very important, uh, to attract institutions. B, we have the necessary cash that took out the ongoing concerns on our statement. Now we know we can be comfortable, weather the storm. If something happen, uh, there’s a crisis, we will not go out of business. So there’s no risk of us going out of business. We’re very, very… Uh, uh, we have a very strong, uh, balance sheet, um, very low rate from our last quarter, you can see that we are not burning cash. We, we were actually, uh, one cent, uh, uh, uh, positive earning. We’re not burning cash. 

00:25:44,004 –> 00:25:44,144 [Frank Curzio]

Mm-hmm. 

00:25:44,144 –> 00:26:16,214 [Michel Amar]

And y- you have to make decisions as you grow. As we grow our market cap, as we grow our business, we need to have a ratio of debt financing and equity financing that makes sense. The, the lowest cost of equity financing are the ATM. You basically set up retail, uh, uh, versus, uh, uh, if you do a, a, uh, private raise, it’s, uh, there’s a discount. There are sometimes warrants. 

00:26:16,214 –> 00:26:16,283 [Frank Curzio]

Warrants. 

00:26:16,283 –> 00:26:32,024 [Michel Amar]

We don’t give warrants anymore. Uh, so we have a much saner approach to, uh, to, uh, equity raises. And it worked for the, uh, uh, the, uh, the stock price. The stock price is up, uh, dramatically for year to date. 

00:26:32,024 –> 00:27:45,124 [Frank Curzio]

Mm-hmm. Yes. A- a- you know what? I think a lot of people, and it’s a good discussion, you know, I’ve been in the house for 30 years. People are concerned about dilution. It was one of the things I loved about you most when I first met you. This is, uh, in, before April when we did our interview, uh, at your house. I’ve been to your house several times, man. You said, to, to get this, I like talking face-to-face. And you told me how important in your industry, how you don’t want to dilute, because in your industry you see that all the time. Like nobody wants to sell their Bitcoin holdings. If you look at Bitcoin miners, your competitors, they diluted the, the crap out of shareholders, it’s sad. Uh, and you just saw a stock price like this with the market cap going higher. But you’re using dilution, even Microsoft, if you look early on, all these companies diluted, but if you’re raising money, which is going to increase the share count, and you do it that way, and you’re doing it where you’re putting it- it to work to change your assets that are worth one million to 10, 15 million, I mean, that’s what, as an investor, you want. So, I think people have this, you know, thing about dilution, “It’s terrible.” It’s, no, it’s not… It’s terrible if you’re paying bills for a lawsuit, it’s terrible if you’re using it to, to, you know, to, to pay employees and stuff like that. But when you’re using it strictly for growth, which you are, you know, I’ve always, you know, realized that about you. Because I had you on, I think the second time, and you were saying, “Hey, we’re not going to have a lot of dilution.” All of a sudden, there was dilution, and don’t quote me on this, I think it was like 15 million dollars- 

00:27:45,124 –> 00:27:45,264 [Michel Amar]

Mm-hmm 

00:27:45,264 –> 00:27:58,384 [Frank Curzio]

… and that was from Ken Griffin coming in. So if I don’t need money for my company, or if you don’t need money, if there’s someone out there that has a corporation say, “Hey, I don’t need money, I’m fully cash,” and Warren Buffett comes along and says, “Hey, you know, we’d like to invest in your company.” You’re going to take the check. Okay? You have to take the check. 

00:27:58,384 –> 00:27:58,543 [Michel Amar]

Of course. 

00:27:58,543 –> 00:28:02,994 [Frank Curzio]

Talk about that, because Ken Griffin, you have Peter Lynch as an investor. Do you actually talk to- 

00:28:02,994 –> 00:28:03,063 [Michel Amar]

Yes. 

00:28:03,063 –> 00:28:09,724 [Frank Curzio]

I think Peter Lynch you said, you know, you’re friends with, but do you talk to these investors? Do they talk about strategy with you now that they’re becoming bigger investors? 

00:28:09,724 –> 00:28:36,784 [Michel Amar]

100%. So, so of course we talk to them. Uh, I talk to them personally. And i- it’s, it’s simple math. Okay? If I convert my 200 megawatt that’s online today, if I convert them in the next 12 to 15 month, at a very conservative value of 12 million dollar megawatt, if I convert 200 megawatt times 12 million, we are worth 2.4 billion. 

00:28:36,784 –> 00:28:37,404 [Frank Curzio]

Mm-hmm. 

00:28:37,404 –> 00:29:42,524 [Michel Amar]

Now, if we are worth 2.4 billion and we need to invest and dilute a little bit to get there, everybody’s going to win, including myself as a, as a, as a, as a major shareholder of the company. Because if I raise couple hundred million dollars to get to an evaluation of 2.4 billion, it’s a win-win. We’re going to win. The stock price will go up, the market cap will go up. And, and we- we, uh, we achieved the goal. Now, do I not dilute at all and I don’t grow my business and I just wait that the, uh, uh, revolution of AI, you know, works in front of me and I just look at it? No. Y- you have to, uh, you have to be smart. We have to be strategic about the, uh, the raises, of course. Okay? It has to be done in a, in a, in a proper way and not with no exaggeration. As you, as you mentioned, uh, uh, rightfully, I’m not here to take money to, uh, to go on vacation. 

00:29:42,524 –> 00:29:42,604 [Frank Curzio]

Mm-hmm. 

00:29:42,604 –> 00:29:59,204 [Michel Amar]

Every dollar we raise is used for capex in order to create value. So if I, if I put three, three and a half million dollars a megawatt that’s worth 12 to 15 million dollar megawatt, every dollar I put is worth 5X. 

00:29:59,204 –> 00:29:59,584 [Frank Curzio]

Mm-hmm. 

00:29:59,584 –> 00:30:38,268 [Michel Amar]

I’m, I’m, I’m, I’m, you know, I’m creating value for the company, therefore for the shareholders. And they, they have to see it that way. That’s very important. Of course, everybody in that space is using the ATM. Uh, Tesla use the ATM every month. Every tech company use ATM, because you constantly need to invest and be up-to-date and grow the business.And, and the market cap potential is there. It’s only a matter of, uh, execution. 

00:30:38,268 –> 00:31:23,358 [Frank Curzio]

Eh, it seems like you guys are executing perfectly well, especially with your timeline still firm, which you actually had in your presentation six months ago, that, hey, Q1 I- is gonna be, you know, a big deal for you guys. Talk about the CapEx spending. I’m looking at, you know, I think it was a little over $3 million spent this quarter. Say if you, you know, y- y- you put it to 12 months, $12, $15 million, you have $90 million in cash on the balance sheet. You have the ATM. Seems like you guys are perfectly liquid to, to grow this company to where you want it, want it to be. Uh, when you’re looking at $90 million in cash, though, some of that is in Bitcoin and Ethereum. I know when it comes to Bitcoin miners, it’s like, you know, you’re gonna die if you ever tell anyone you sell your Bitcoin. But is there… Since some of that is Bitcoin, have you ever thought about selling some Bitcoin, or is it, like, you’re one of those, “Hey, we’re holding Bitcoin forever”? I know you have Ethereum as well, because it seems like- 

00:31:23,358 –> 00:31:23,358 [Michel Amar]

[laughs] 

00:31:23,358 –> 00:31:39,267 [Frank Curzio]

… those guys would rather raise capital and dilute. And remember, they’re doing it for a business that’s not scalable, ’cause when it comes to Bitcoin mining, you have to pay more to generate more, right? You gotta buy more systems, you gotta buy more electricity in order to generate more money. Uh, I’m just curious, uh, on, on that end with you, if you can answer that question. 

00:31:39,268 –> 00:31:49,028 [Michel Amar]

Uh, the, the, you know, our goal is to pivot 100% to AI infrastructure, for the, for the obvious reasons, because it’s much more valuable. 

00:31:49,028 –> 00:31:49,487 [Frank Curzio]

Mm-hmm. 

00:31:49,488 –> 00:32:31,688 [Michel Amar]

Uh, the, uh, the current, uh, digital assets we got represent maybe 15%, 16% of the total. I think we have, uh, uh, $75 million cash and, uh, and, uh, deposits, maybe $80 million total, and then the rest are, are, are few Bitcoin, all Bitcoin and 1,000, uh, Ethereum. So, so, so it’s not a big ratio of what we got. And, and as we are pivoting, uh, out of Bitcoin mining and focusing on AI infrastructure, by, by ’27, it won’t even be a, a subject for us. 

00:32:31,688 –> 00:32:31,708 [Frank Curzio]

Mm-hmm. 

00:32:31,708 –> 00:32:47,708 [Michel Amar]

You know, we, we… Our business will be, uh, uh, AI data processing infrastructure, and, uh, we’ll be focused on that and not, and not, uh, Bitcoin mining at all. Not, uh, treasury, we’re not here to buy Bitcoin- 

00:32:47,708 –> 00:32:48,128 [Frank Curzio]

Mm-hmm 

00:32:48,128 –> 00:33:22,648 [Michel Amar]

… sell Bitcoin, hold Bitcoins. We just happen to have Bitcoins. We, we, uh, uh, we are in a low cycle, so it would be, uh, I think, uh, a mistake to sell, you know, uh, Bitcoin, Ethereum today. So we keep it as a, as a, as a small, uh, digital assets. Um, and, and, uh, we’re not growing it. We’re not buying. Uh, we won’t use the cash to buy Bitcoin or Ethereum or any cryptocurrency. The cash is strictly to build our AI infrastructure. 

00:33:22,648 –> 00:34:13,737 [Frank Curzio]

Do you provide forecasts? You have Q4 coming up. Will you provide like a year forecast? I mean, when I look at the amount of money that you could generate a- and see this as being, you know, $90, $100 million in sales 12 to 18 months from now, I mean, this is all modeled out and stuff, you know, do you guys provide those type of forecasts? And would you do that in Q4, or is it, you know, you’re more on a conservative basis? Which, again, you don’t have to, but it’s just, you know, seeing the numbers, when I see your numbers, and even what’s gonna come next year when you have a lot of these megawatts going to Tier 3, you also have energy sales coming in, you know, Bitcoin, you have some Bitcoin on balance sheet, it just seems like everything’s firing on all cylinders here. You know, and providing that number, I think if people see it and they’re like, “Wait, what’s the market cap of this company? It’s $250 million. Okay, but this thing should be, you know, over a billion dollars.” Do you guys, like, forecast that far out, or is it kind of like, “Hey, we’re just looking…” You know, ’cause you guys do a great job of providing a timeline and what you’re going to do over that timeline- 

00:34:13,737 –> 00:34:13,737 [Michel Amar]

Mm-hmm 

00:34:13,737 –> 00:34:24,628 [Frank Curzio]

… but I’m just wondering if you guys forecast numbers. ‘Cause when I look at the forecast for the numbers, if you guys really are on point, uh, for the first six months of the year, those numbers command a much, much, much higher stock price in here. 

00:34:24,628 –> 00:34:41,188 [Michel Amar]

So, so basically, internally, we have our, we have our forecast. Uh, publicly, uh, because of the regulations, uh, it’s very hard to, uh, to publicly, uh, disclose forecast. 

00:34:41,188 –> 00:34:41,358 [Frank Curzio]

Mm-hmm. 

00:34:41,358 –> 00:35:00,388 [Michel Amar]

Yeah, you need, you need to disclose it upon, uh, uh, you know, customer contracts and, uh, the, uh, uh, operating cost and so on. But as a general, as a general guidance, I would say that there are two type of revenue in our business on the AI. There’s the co-location- 

00:35:00,388 –> 00:35:00,548 [Frank Curzio]

Mm-hmm 

00:35:00,548 –> 00:36:15,808 [Michel Amar]

… and basically the co-location, it’s about $150 a kilowatt per month. So you can, you know, take a calculator and do the math. I mean, we’re, you know, shareholders who are interested to understand what it means. But $150 kilowatt per month per megawatt, okay? And, uh, in terms of the GPU at service, uh, you can go to all the sites and you realize that it goes anywhere from $3.50, I would say the lowest for the new chips, as high as $15, $20 an hour, depending on the, uh, contract. If you have a three-year contract, two-year contract, one-year contract, if you use it partially, it goes anywhere from $3.50. Very high margin business, uh, obviously. Um, and that goes very fast because if you take, uh, uh, uh, one megawatt, you can fit about 500 chips, uh, in a, in a one megawatt cluster, and you multiply 500 times, uh, take for argument’s sake, $5, 500 times $5 times 24 hours times 30. And that gives you a number per megawatt of income- 

00:36:15,808 –> 00:36:16,108 [Frank Curzio]

Mm-hmm 

00:36:16,108 –> 00:36:22,148 [Michel Amar]

… uh, to have some kind of a, a guidance of, of the potential, uh, revenues. 

00:36:22,148 –> 00:37:21,448 [Frank Curzio]

Mm-hmm. And that’s pretty much what we did as, as well. So I, I guess one of the final questions here is, I know, I think I saw that you, you’re looking to hire a PR team. You have to be getting more attention now because when names like Peter Lynch are investing in your company, which is a name a lot of people-… in this generation I haven’t heard of. I grew up and, and one of the best investors ever, one of the best performing, uh, hedge fund managers, evidently. You have Ken Griffin investing in your company personally. Andrew Citadel, which is, you know, a $65 billion, you know, fund. Uh, you know, how do you handle it? Because what I see from you and meeting you is a cool personality. You love pickleball, you travel, fashion and stuff like that. I think it’s coming out to, to… You’re probably gonna see you do more interviews and everything, and that’s gonna bring on more attention. How do you handle that part? Because as you’re getting more attention, you’re getting more eyeballs on you. It seems like that’s happening, especially when I look at the volume of your stock compared to nine months ago. I mean, is this a fun time for you? Is it more responsible? Is this is like, “Wow, we’re getting a lot of eyeballs on it”? How do you, how do you handle that as a small company that’s transitioning into something, it seems like it’s gonna be much bigger? 

00:37:21,448 –> 00:37:27,648 [Michel Amar]

It’s actually very exciting. By the way, it’s a, it’s a paddle tennis, not pickleball. It’s- [laughs] it’s a, it’s a different, uh, sport, but it’s okay. 

00:37:27,648 –> 00:37:28,898 [Frank Curzio]

Oh, okay. All right. 

00:37:28,898 –> 00:39:06,127 [Michel Amar]

Uh, um, no, we, we, we are very excited. Of course we are… As we are getting, you know, uh, uh… as we are growing into this AI data infrastructure, uh, we are about to get a CTO, we are about to get a, a head of IR to communicate with the investors. Uh, ’cause sometimes, you know, uh, uh, we are very busy, uh, executing on the… on, on site, uh, the construction and the, uh, and, and, uh, the realization of, uh, our modular system, and that’s very important to us. But you’re right, it’s also important to communicate and, uh, respond to, uh, you know, the, uh, the, the, the investors and, uh, their questions. So, so we’re hiring, uh, people to handle that and to communicate better. Uh, the reason why we were a little bit short in staff is that I hate to, uh, uh, to bleed, I hate to lose, uh, dollars, uh, in operation. You know, I love revenues to support the growth of, uh, our team, so now that we have the, uh, you know, the capital to, uh, to expand, uh, we have to invest in human resources as well, and, and we are doing that, uh, in a very strategic way. Uh, we are doing that so we can support our growth at every level. O- on the sites, in, uh, uh, in terms of, uh, uh, pivoting to, uh, tier three, and in communication as well. 

00:39:06,128 –> 00:39:52,828 [Frank Curzio]

Yeah. And listen, I really appreciate you joining us. I know how busy you are and it’s great that you’re hiring a team and more, you know, communication, more transparency. ‘Cause I know how difficult that part is, covering small caps all my life, where, you know, yeah, it’s nice to have growth, but sometimes when you have so much growth at the same time, you have to hire the right people. And it’s not as easy, ’cause I know you’ve been so successful doing that with bitcoin mining, now he’s successful here. I think investors are gonna love, because they see that you’re prepared for the next stage of growth here and what you’re doing, and I think that really came out in this interview. And, um, yeah, listen, my investors are really happy. I just wanna thank you. We’ve covered you since a little over $1, it’s $4, and we haven’t sold, a lot of us haven’t sold, so, you know, I think people are gonna be really happy with this update, and I just wanna say thank you so much for coming on and giving us that update. And good luck, because man, you’re busy, you have a lot of goals to achieve, and, uh, a lot of investors are behind you, so… which is really cool. Thank you so much for coming on. 

00:39:52,828 –> 00:39:56,928 [Michel Amar]

I appreciate that, friend. Thank you so much. Thank you, guys. 

00:39:56,928 –> 00:42:14,868 [Frank Curzio]

Hey guys, great stuff. Uh, it amazes me how a tiny company like this is able to get investors like Peter Lynch and Ken Griffin. You don’t see that often in small caps. These are guys that are not buying. I mean, Ken Griffin filed, over 5% holder, so, you know, you’re not gonna file if you wanna be in and out of the stock. You r- really wouldn’t do that. Uh, Peter Lynch as well, uh, I mean, you know, he talks to these guys, uh, you know, they can see the value of this. This is an incredibly valuable asset. I think it’s an easy story to understand. And look, some of these companies stepped in shit, and that’s okay. That’s how you can make a fortune. “Hey, we got all this power, a bitcoin miner,” and he was in bitcoin mining since 2016, right? He was ahead of the curve before everyone started getting into this. But if you look at the comparisons that I told you within CoreWeave, uh, buying Core Scientific, and even if you discount it, this stock should easily be trading at $10. If they’re able to convert to that 55 megawatts of power, and then in 2027 they follow up, in 2028, I think it’s gonna be easier and easier with the money that they’re gonna generate. They have capital now through the ATM. They’re sitting on a lot… a, a huge cash balance of… what’s the market cap? 250 million, 90 million in cash, which includes bitcoin and Ethereum holdings. Uh, it’s a company just really well positioned, and I think people are going to start learning about this story pretty soon, because when you see these big investors get in, it’s really, really exciting. So let’s see what this company does. There is risk to every investment. Again, I’m a huge investor in this stock personally, not selling shares at all. Uh, I came in during their, their round, uh… I think it was like 260 where I put in some money into the stock. Uh, and I think we had some of our investors in our Curzio One membership as well, which I’ll get to in a second, that have come into that, to that name. We got a small allocation when they were raising, I think $5 million, I think we got $500,000. And I told all the investors, “I’ll take out the whole thing by myself.” Uh, but we have had investors come in and, and I… you know, I got a, a nice piece of that. So, uh, let’s see. A lot of it has to do with execution, but we’re sitting o- on, on a company here that we recommended early. I don’t mind that it was like $6 for a minute and it came down to $3.50. We went to $1. It’s nice to see this. This is what happens with small companies in trends like this, but this trend isn’t going away. Uh, they… we have a dire need for power. I’ve covered this before, uh, and these guys are just sitting there with these massive assets, uh, that, that the companies, the biggest companies in the world with the deepest pockets are dying for and paying massive premiums for, and that’s not gonna change as long as we continue to see CapEx 

00:42:14,868 –> 00:50:09,096 [Frank Curzio]

accelerate for AI. And even if it slows down from here, they still need power. They don’t know how they’re going to get power to fund their AI needs. This company’s sitting with real electricity, real assets, and it’s, uh, pretty exciting. I’m glad one of our investors got in very, very early. So, uh, I want to end with this, and this is about our Curzio One membership. So if you’re a Curzio One member, we’re launching the Savvy deal next week. Uh, the companies are gonna raise around $5 million and we’re able to get a piece of this. This is the type of deals we’re able to get now. So it’s not these private secondary deals in mining and stuff like that. You know, I have great connections there.These are private deals that are coming to us instead of going to Wall Street because they don’t like… You know, Wall Street’s not looking to take a position in these and believe in the company, right? They’re looking to make money as quick as possible in hedge funds and venture capital firms and stuff like that. So now that we’re getting bigger in terms of our Curzio One membership, we’re able to raise 5 million, 6 million. We’ve raised 8 million for one of our first deals. Our average is around 2 million. A lot of companies are coming to us and they see what’s going on. They see how our investor list is an amazing investor list, really great investors, people who love to invest, people who ask lots of questions, which they like if you’re a real company. Uh, and they’re coming to us now. And it’s really, really exciting. I mean, you know, a deal like this, just, just to explain, if you’re a Curzio One member, you, you know about Savvy. Uh, I actually interviewed Eric, uh, the CEO Eric Goldreyer on this podcast. And I thought we were gonna get a piece of the deal when they raised money. However, someone wrote a very, very large check then and he, you know, he apologized and he said, “Look, we’re, we’re gonna come up with the next stage o- of funding.” And now it’s the next stage of funding. Now, it’s not like he missed the boat from then to now. There’s massive, massive growth taking place with this platform. And if you don’t know Eric, he founded BedandBreakfast.com, sold to HomeAway in 2010, eight-figure exit; co-founded TurnKey Vacation Rentals, sold to Vacasa in 2021, nine-figure exit. Okay, this is like a, a Dorsey, right? This is someone that knows Peter Thiel, how to create companies, and he’s in the right space, the hospitality space. He’s doing the same thing all over again. He launched Savvy, which is a platform you can check out for yourself. Go to savvy.com. Uh, and it’s an alternative to Airbnb and Vrbo. And Eric saw a disconnect in this market and he heard… You know, he knows a lot of people in the industry. He has, you know, just… It’s amazing to see who joined him as a list of advisors. Uh, the companies, uh, these people, the CEOs, the biggest names in the industry are advising because they see this disconnect where Airbnb and Vrbo, great services I used to use all the time, they have raised prices astronomically over the past 18 months. And that opens the door to more disruption, and that’s what he saw. So Savvy charges no fees to their customers, uh, and lets them save probably 15 to 20%. That’s how much we’re paying in fees. But instead you’re like, “Okay, then how does the company make money?” They do it through kind of like an SEO model where companies can pay to get their home listings to the top of the search results, and they could offer other services and he was going over that. And we have a great interview where, uh, Eric was at our conference, Curzio One, and I can’t tell you how many people… I would, I’d be surprised if we had o- over 100 people from our Curzio One membership there. I’ll be surprised if not 90% of them are investing in this deal, because once they got to see him, not only that, at our conference, Curzio One, all the CEOs hung around. And I wanted them to hang around. I said, “Hey, listen, you know, you need to talk to your investors. They know that. They’re good companies, but they all report it back to me.” And I’m not talking about the main event, which is Monday. Tuesday was a breakfast. They could have all left. They were all at the breakfast. They were all like, at that breakfast and we had like, a special podcast and again, they’re talking to all the investors and all of them said this, you know, “The investor list that you have is incredible. These guys are engaged, they’re good people.” Not everybody who comes into Curzio One, again, they, they have their own companies. Uh, maybe they don’t know about, you know, the finance angle too much when it comes to stocks and private investing. And what we do is we set up this membership where we do everything for you, right? And these are deals that I’m going in personally. And once you’re in the membership, there’s no pressure to invest in deals. My job is to bring good deals to you, and now we have amazing deal flow. We actually have another company I’m going to California next week to see, early stage company, it’s fascinating. Uh, and, uh, flying out to Sacramento, uh, in a week to just go see them, see the management team and go to this facility to, to, you know, test th- their products and stuff like that. Uh, but the Curzio One membership is really, really cool. We had a lot of members there and, you know, we set up these deals, we do almost everything for you, right? We put everything in DocuSign, we let you know you have to be an accredited investor. The- the… Eric said he wanted $100,000 minimum. I said, “It’s not gonna work. You have to go to 25.” So 25,000 is usually the minimum investment for us. Anyone who comes into this club, I always say you have to be in- try to invest in at least three of these deals, four of these deals, ’cause some of them aren’t gonna work. This is risky investing. One of them works would cover 20 of your other investments usually, right? ‘Cause that- ’cause you’re in at such an early stage. And it’s my job to vet these things and, you know, and present deals to you. And either you’re in or you’re out, that’s perfectly fine. There’s no pressure once you’re in the membership. It’s just my goal is to present you lots of ideas, and we’ve been fortunate doing this for several years now that now we’re getting… The deal flow that we’re getting is absolutely incredible. Like deals like this, we’re investing behind some with a nine-figure exit and a eight-figure exit. Okay, you can go back to the Savvy interview. I interviewed him a few months ago, maybe about four or five months ago. Uh, and you go into the archives and see it and, you know, it’s really, really exciting, but this platform’s already live. Uh, it’s growing like a weed right now. It’s over 150,000 properties listed. Over 3,000 property managers already signed up. And they were begging for an alternative, since Airbnb and Vrbo have raised prices considerably, right? Over the past 18, 24 months. The momentum this company is seeing, month-over-month growth is 52%. And in October, which is the last month that they gave us reported, the platform saw a 92% month-over-month growth. Not year over year. It’s easy to grow your numbers by hundreds of percent if you really didn’t have the business a year from now. He’s talking month-over-month growth. You’re seeing this massive growth take place. Again, 150,000 properties listed. You could go o- on that site right now. It actually puts the same property that’s listed, if it’s listed in other areas, where it’s listed, no bias. It’ll be Airbnb, and it’ll show you the price differential of how much you could save by doing this through Savvy. And sometimes maybe, you know, it might not be that big, right? So it doesn’t matter. But I love the transparency where now he’s gonna show through Vrbo i- if this property is listed on Vrbo, if it’s listed on Airbnb and then Savvy, it’s gonna show the difference in price. And as a customer, I mean, 15, 20% allows you to get a personal chef. It allows you to, to, you know, go rent your own boat with your family, right? When you’re going on, on these vacations and stuff and using Airbnbs and Vrbos. I mean, 20% of that, which is what? 5,000 minimum you’re gonna be paying $1,000 to go. You could do an extra $1,000 for most people. Sometimes people will pay more or a little bit less, but saving 20% allows you to really, you know, scale up, have nice- nicer stuff or, you know, nicer excursions or wherever you’re gonna go. So it’s a really big deal and he’s onto something. Something that’s been in… Someone who’s been in this industry their whole entire life, over 30 years…. uh, and has made a fortune working at finding the disconnects and having the right investors. And now we have access to this deal. So Eric did speak at a Curzio One, uh, conference in Fort Lauderdale. And that was last month, like I just said. A- and, holy cow, uh, I’d, I’d be surprised if most of the investors… I mean, I’m getting emails now, “When’s Savi coming? When’s Savi coming?” It’s coming next week. So if you’re a Curzio One member, the deal’s available next week. Just getting the final paperwork ready. We put all the stuff in DocuSign. We go over everything with people and say, “Okay, if you wanna invest, that’s fine. If you don’t, that’s okay.” Uh, we connect you with the company. We show… We’re gonna show the, the video, uh, of my interview with him, and then I’ll come up with, you know, more statistics and everything of why we’re investing and how much I invest in these deals. Again, you’re coming in alongside me, uh, which is really cool for these deals. And, and so far, you know, the club membership has been fantastic and we’re just getting really, really good deals. A- and I think some of them are gonna pay off, where, you know, DGXX has paid off. People were able to invest, uh, you know, a few, a- at 260. Uh, that stock went to much, much, much higher, right? And they got warrants on that deal. So, uh, 

really cool. Coming out next week. If you’re not a Curzio One member and you’re interested, we lowered this price considerably. We used to have a m- a much higher price tag and a lifetime membership and pay a maintenance fee, and we said, “No, let’s do an annual membership.” Why did I do that? An annual membership is $5,000. First of all, you’re gonna get access to all our products and services, which is worth probably about $25,000, right, the… if we sell them all at retail, maybe about 20, 25,000. You get all those for free, and you get access to our Curzio One Wealth Forum every year, which everyone who was there said… Not everyone, but I mean, almost everyone ha- had positive feedback, sent us testimonials. Um, I can’t tell you how many people I heard saying that’s the best conference they’ve ever been to, because I interviewed everyone, they had access to the CEOs. It was fun. We had entertainment. You know, it, it was just really cool and everyone’s down to earth and talking. It wasn’t like… You know, any… Everyone checked their ego at the door. It didn’t matter how much money you had. It was all about connection. And that’s what that Curzio One membership is about, is connecting. It’s not… And I told people in my opening speech, “Look, you don’t have to be best friends with people, you don’t have to call them every day, but if you know someone that builds data centers and someone else who, who’s, you know, one of the large independent bond fund managers…” Uh, s- we had a person who was responsible for launching over 700 deals. Um, now you have access to these people when you talk to them. You call them and say, “Hey, what do you think of this?” or, “What do you think of that?” Or is it… You know, having that network is incredibly valuable. It’s where most of my ideas come from, right? S- yes, I work hard and travel and find ideas, but a lot of these come from different sources that I trust over my 30-year career. And bringing this all together for that price tag where, you know, you wanna be able to invest in several of these deals. If you’re interested in coming in, I talked to you one on one beforehand so I knew most of the people, I had spoken to most of the people who were at my event. And that’s the first time I saw them in person, which was great, right? Which was awesome. I got to spend time with so many of these people. Uh, but if you’re interested in coming in, let me know. We’re getting access to really, really amazing private deals. Yes, the private market’s opening up. I think that’s incredibly dangerous. They’re saying they’re gonna open up more to investors, venture funds. I think it’s dangerous ’cause people don’t know how to… what’s under the hood in these deals. It could be a great company like we saw with SPACS. Most of the SPACS, those companies are, are very good, high-growing companies. They just worth 3, 400 million and they came out at $10 billion, $8 billion, $7 billion valuations. And now they’re down 90% plus, right? 95% of those deals are down more than 90% in SPACS. Of all the ones that are listed, whatever, 300, 400, 500 that were listed in the periods from… I think it’s late 2020 to 2022, have gotten annihilated because the big guys and Wall Street took advantage. They’ve done pipe deals. They’ll come out at $10. They had shares at 50 cents, a dollar, $1.50. They had no lockups, they didn’t have to disclose warrants, they didn’t have to do any of that shit. They basically robbed you on Wall Street. That doesn’t happen in this membership. I’m vetting the deals, I’m letting people know if they’re bullshit, and, and I call people out. I call people out and turn deals away and said, “This, this, this is a shitty deal.” This, uh, “We’re looking to raise at a 20 million valuation.” I said, “I- I’ll raise it at 3 million valuation.” “No way, worth more than that.” “Okay, bye. Go.” They never raised money. Okay, so that’s my job, because I’m putting my own money behind these deals, right? So now that we have access to deals like this, the next deal is from people who are launching from the SlimFast Fortune. Uh, i- it’s very exciting. I don’t wanna talk about it ’cause I’m going there to do the final part of the research. And if I don’t like it, I’m not gonna pitch it, but it’s something… It’s one of the most exciting deals that, that we’ve ever had that’s gonna come out probably in about three weeks or a month from now, if everything goes well in my, uh, trip to California. So if you’re interested in coming in as a Cur- Curzio One member and speak with me personally, email me at frank@curzioresearch.com. Again, we, we lowered this price because we want more people. As we have more and more people, now our investments get bigger. And if we were able to raise 5 million or 10 million or 20 million for these companies, we’re almost bypassing Wall Street. Uh, and we’re getting some of these amazing deals, even in biotech again. And, and then you have access to our conference where I had 12 interviews that I did, and most of them private companies that all these guys are invested in, uh, and our investors are invested in. They get to talk directly to the CEOs. Uh, it was a really nice event. It was really cool. But just that whole package where you get all of our products and services, every single newsletter that we offer is really cool. And then if you’re an accredited investor, you have access to, to all these deals, and you get to pick and choose. There’s no like, “Hey, you gotta get into this deal.” No. “Hey, here’s the deal. You can call me and ask questions and be like, ‘Eh, it’s not right for me.'” And I’ll tell you, I’ll be like, “Hey, this deal is very, very risky. But if you’re right, it’s 100 exer.” Or, “This deal is, is a little more safer, it’s cool, they generate lots of revenue.” A company like Sugarfina. I mean, Sugarfina presented there. Scott LaPorte is the CEO. We invested in early. Uh, they just signed an LOI where they’re gonna go public in, in two months. And we got warrants on that deal. Uh, by, by Q- by Q2, they’re gonna go public. Uh, which is really exciting. And they’re selling their candy in the hotel that we were at. I mean, it’s a massive company, right? So, uh, you know, these are the deals we’re able to get into. It’s a lot of fun right now and I really like that membership. I think everyone who’s in it, uh, considers it a bargain. It’s really cool. But that’s what we wanna do. We wanna give access to, to these types of deals. And now that we’re growing, now that our platform is growing, now we have access to the right people giving us these types of deals. Uh, it’s really exciting. 

So if you’re interested in learning more about Curzio One, feel free to give me a shout, frank@curzioresearch.com. And if you do it in the next week, week and a half, you’re gonna have access to get into this Savi deal if you’re an accredited investor. 

And…… we walk you through this, I hate to say it, hand-holding because, you know, it sounds babyish but it’s true, and sometimes you need that, right? No matter how… Your sophistication, how smart you are in- in your industry, it’s fine. This is what we do. We walk you through, we get… go through DocuSign, “Here’s what you have to sign.” Sign something that you’re an accredited investor. Uh, you’ll get the certificates after they close a deal which sometimes happens 30, 60 days later. Uh, and I’m here for you. You have direct access to me, you get my- my- my personal phone number and people text me, I tell them, “Don’t text me until let me know, you know, the Eagles won,” which they haven’t won and they looked absolutely disgusting [laughs] last game, which is frustrating to me. But, uh, yeah, you have access to me. Any questions, uh, I’m here for you and, uh, it’s a really cool membership. I’m really proud of it and really proud of our conference that we launched, uh, last month and I’m glad everyone had a really, really good time. But you’re gonna have access to that, all of our products and services and access… I would say it’s at least s- minimum five, six, seven deals a year. It might be two or three, it might be ten. Depends on what deals come out. I’m looking at deals all the time and for me to select them and invest in them, they have to be special. We have to get, you know, a really good deal on a table. I’m helping structure those deals now and, uh, it’s resulting in- in getting it at really favorable terms very, very early where if some of these things work out, it’s a game changer. It really is a game changer and that’s really what we want, right? We wanna generate as much money and generational wealth as we can and it’s really exciting. 

So if you’re interested in the Curzio One membership, feel free to give me a shout, frank@curzioresearch.com, you can get to Savvy Deal. 

And if you’re a current One member, that’s okay, you’re gonna have access to all these deals, the Savvy Deals coming up. Um, we’re gonna try to launch it next week. I think we’ll launch it next week. Just going through the paperwork, putting everything in DocuSign now and going over the final touches and make sure that process is very, very easy for anyone that wants to come in. 

So guys, that’s it for me. I will see you tomorrow with Daniel, um, Wall Street Unplugged Premium and again, any questions, comments, email me, frank@curzioresearch.com, and I’ll see you tomorrow. Take care.