
Harvest Communications
Aug 1, 2024
Pest control is getting a makeover!
In the lates segment of The Harvest Podcast, Carmel Fisher talks to Mr Joel Fruendt, CEO of Senestech, Inc, a biotech and life sciences company to unveil insights into their mission to improve public health by managing animal pest populations through fertility control, particularly one of the world's oldest issues – rodent control.
Since every 2 rodents will produce 15 000 more in a year, it makes sense to treat the issue at the root cause...
Listen to this informative and insightful interview to get the latest developments on $SNES, available on the NASDAQ exchange, including areas of expansion and the recent reverse stock split.
Unable to listen in right now? Follow below to read the Full transcript:
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Hi and welcome to The Harvest with me Carmel Fisher today we're interviewing CEO and President
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Joel Fruendt from Senestech, Inc. Hi Joel, welcome. Thank you, glad to be here. As a start just give us
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an overview of Senestech, where you're listed, what the ticker is and of course what has inspired
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the mission just for all of our viewers out there. Sure, absolutely. So we're a biotech and life
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sciences company, we're traded on the NASDAQ ticker symbol SNES. Our mission at Sinestec is to
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improve public health by managing animal pest populations through fertility control. So we do
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things a little bit different than they do for one of the world's oldest issues and that's rodent
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control. Right now we have labels for rats and for mice and so we attack the problem and its root
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cause reproduction. So really in essence what we're doing is rodent birth control and it's a very
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proactive approach as opposed to what you read a lot about in the news lately and that is cities
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and other government agencies that are trying to control rodent problems by poisoning and
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killing and trapping and all those things. So we're a little bit different in that respect.
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So tell us more about the science behind Sinestec's Contribute Product, how does it work?
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So I'll start out with this fact that usually leaves people with their jaw dropping and that is
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that two rats in one year can become 15,000. So that is really the basis for our product. That's
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our why because when you start doing the numbers is you cannot poison, trap, drown, whatever you
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want to do. You cannot do that fast enough without addressing the reproductive rate.
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And that is really why our product is in the news a lot right now and why we're getting such success
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out in the marketplace. But really so when you look at it's like okay so how did this come to
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being? Sinestec started as a research company. They were looking at research that would mimic
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menopause or medicinal research and they came across something that they developed into a product
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called ContraPest and it's a liquid product. It's patented. It's a technology that really reduces
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or eliminates fertility in both females and males. So in males it affects the sperm reproduction
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and in females it does pretty much the same only it attacks the follicles. So when this product is
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being used out in the marketplace it's like it impacts both male and females and limits the
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reproductive rates for both. So the ContraPest product it works. It's proven itself out in the
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field and we introduced some different delivery systems in order to be more focused on how rats
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are in the marketplace whether they're in their burrows or their roof rats. And we have very loyal
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customers that love the product so it's an attractive solution for them. Wonderful. Very
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interesting. Is ContraPest your only product? No. In fact we're really excited about our new product
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evolve and I'll actually tell you how it evolved. ContraPest liquid product, very good product.
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But when we started doing our analysis of the marketplace and what's used and what's not,
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asking 95% of all the products that are used out in the pest control industry are some type of solid
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product. So easy to use. Price-wise it's very economical products. So asking our customers to
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switch over to a liquid had a lot of things that were complicated. And so when we came up with
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Evolve we came out with it. It's what's called the soft bait product. So it's almost like cookie
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dough that the rats and mice really love. It has similar efficacy meaning it works really well
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out in the field to ContraPest. But it had really three things that ContraPest didn't have. The first
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one had a shelf life of one year. So this is a great distribution product, even a retail product
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because you can put it out on the shelves of distribution and it can be sold to the end users,
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homeowners. The other thing is that a solid formulation is everybody was familiar with.
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So we're not asking them to do something different out in the field. And then
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the third thing was we were now able to offer it at a very competitive price to other rodenticides
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that are used out there. ContraPest is a little bit higher price product and we were facing some
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feedback there. But the one thing that I also need to mention about Evolve, it's been designated by
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the EPA as a minimum risk product. It's all food additive ingredients. So when used according to
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the label directions, you can use this with no harm that can be done to humans, animals, or the
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environment. So we're really excited about that. And it works in the same way that ContraPest does.
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It has active ingredient, which is actually cotton seed oil. And in males, it reduces the sperm count
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and motility. And in females, it affects the follicles and disrupts the estrus cycle. So both of
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those things show that it really reduces the amount of newborns that the rodents can have.
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Wonderful. So, you know, given that there's no poison, that's obviously one way that you would
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address environmental impact of your products. Are there any other actions or ways that you
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address concerns around environmental impact of your products? Yeah, so I think that, you know,
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as I mentioned that the reproductive rate is so high. So how are you going to be able to do this?
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Infestations that are out there, they can occur quickly. And everything else is addressing the
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death rate. So we're addressing the birth rate and how do we do that? When you're designated as a
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minimum risk product by the EPA, you're using materials that they have deemed acceptable that
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pose little to no risk out there. So with our, we're, when you add all those things together,
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and then you start looking at the fact that, okay, the product has no poison. It's not harmful to
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non-target animals and humans, which we've heard numerous stories lately about whether it's eagles
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or owls that feed on rats. And the rats have ingested rodenticide and the eagle or owl dies.
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Not a good situation for anyone. So you really can't, you can't have that with our product.
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And when you start looking at the formulation, it is specifically designed for the body mass
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of rats or mice in case of our mouse product. And so larger mammals would need to ingest
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a substantial amount over several weeks to see any effects. And then those effects would be
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concerned about reproduction and not death. So, and birds, you know, birds, there's a lot of
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to be said for that. And birds are more tolerant than any of the other mammals as they have
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different intestinal tracks and modes. So very unique product that minimum risk and no effect on non-targets.
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I imagine they were, you know, giving everything you're saying to prove the efficacy and the
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lack of risk through many other, you know, species and humans, et cetera, that there were challenges
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in bringing this to market to evolve and counterpaste perhaps as well. Can you speak more about
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those challenges and how you overcame them? Yeah. So naturally with any, well, let's just start
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backwards. Poisons and traps have been around for 50 years. So they got a 50 year head start.
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And that's the mentality that's out there. It's like, well, if you have an issue with,
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with animal pests, in this case rodents, that you will do something to work on the death rate of them.
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So a new product, there's a lot of skepticism. So what we've had to do is be able to go out into
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the field and work with customers on field trials of the product to prove the efficacy or to prove
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that it works. And once we started doing that, then we started gaining some repeat customers.
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The other part of it is we really focused on the customers and their groups out there
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that were environmentally conscious. And we started to see a lot of zoos start to use our
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products simply because there's no place in zoos for any type of poisons. And they keep coming back
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because it works. So in this day and age of immediate results, ours is a long term solution.
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So we have to show that, okay, you start using this and over the long term, you'll be much better
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off lack of infestations that occur. And that's what we're seeing is that we're starting to get
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more and more of the pest control companies that are out there, the agriculture companies
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that want to do things a little bit differently now. And so we're starting to see a lot of
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things that are different now because doing the same old thing, doing the same old results is not
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very advantageous for anyone. 100%. And you know, I think it's a testament to itself that zoos or
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its main mission is to protect animals, wildlife and the entire ecosystem that they are return
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customers. That says quite a lot about the product. Yeah, we are in 10 out of the largest 20 zoos
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in the United States. And we think that by the end of the year, we'll probably be used in over
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three quarters of them. And that's one of our continual focuses is on wildlife and on animals
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and how are we going to protect their lives. Excellent. More about recent advancements or
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innovations to your product lineup in particular, can you add some light to any of those?
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Well, we started out with, so we had Count your pest, we're doing that, we came to the
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came to the soft bait and we've got a great product development team at Cinez Tech. And they set out
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to find some type of hard bait. We ended up on a soft bait because it's one thing we found is that
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it's very palatable to the animal pests that are out there. And when we did our field trials on
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palatability, people were amazed that they said, well, we're used to not getting any rats or mice
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to go near something for three to four days. And in two days, they had destroyed all this. So we
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knew we were on to something. When we started doing that, we said, okay, how can we launch this?
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We found the right way to manufacture it, launch the product on January 1st of this year. Then
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we're like, okay, what is next? Evolve mouse. And so even though people
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interact, intertrace the rats and mice together, they're really different. They have different
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metabolisms, different body structures, and those types of things. So we launched Evolve mouse on May
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1st of this year. Right now, we've got approval in over 32 states for that over 43 states with Evolve.
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And so that's on a fast track forward. And then we started looking at, well, how do we
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package the product? Sustainability is one of the key concepts of our company and something
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that we talk about a lot. And so we started putting the product in pouches instead of these big
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plastic pails. So we're making that transition over there. I would say that the next thing with
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what we're going to be able to do with our innovation is that look at other animal pests.
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And we've got some things that are going on right now that look at things like
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squirrels. And interesting thing is when we go to some of these international trade shows,
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we get requests for what can you do for wallabies and kangaroos and those things. So
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we're constantly looking, okay, what's the next animal pest that we can create a fertility control
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product for? Very interesting indeed. And so speaking about, you know, branching out to various
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different animals, what markets and industries will stick target or are you currently targeting?
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Well, if you look at our business and we're really focused on seven different markets. And,
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you know, the big one is pest control, pest management. And that entails residential pest
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control as well as commercial pest control. So we're really focused on that market.
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Agriculture is a great big market for us simply because agriculture, you can really see the
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economics of having damage that's done by by rats and mice, whether it's contamination or
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consumption or lower outputs and like an egg and poultry production because of rats in their eating
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eggs. We're really focused on that and that's that's been one of the key markets for us in
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launching Evolve. And then we're on the, you know, the municipal site and cities and governments.
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We're really focused on that. That's probably where you hear the most about rat problems,
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New York, Chicago, Los Angeles. They're all involved in that. And then we're really excited
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about a couple of things that have happened, a couple of markets. So with Evolve, and I mentioned
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the shelf life that it has and the success rate it has on the efficacy of the product,
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is moving into retail. And so right now we are, we're on Amazon.com. We're talking to a lot of
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other big retailers. We're going to be at the Ace Hardware Show in August, their marketplace,
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where they have all of their stores come in and purchase. So we're excited about that. The other
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one I'm really excited about is international. This has opened up the world to us. And we've got
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product that's in Hong Kong, in Singapore, in the Maldives and a bunch of other places. So we
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know that that's going to be a big marketplace going forward. And we're in the process of getting
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registered in all those countries. So you may have touched on one or two elements of this next
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question, but is there a complex landscape of pest control regulations out there? How does
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anistic stay on top of that, stay ahead of it, and navigate it just to obviously get ahead in
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what your mission is? Yeah, it's certainly a lot more complicated than just making a product and
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going out and selling it. Our regulating body is the EPA. And so we're in contact with the EPA on
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registering products like a contra pest, or to take advantage of the 25B exemption from the
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registration process by using those active ingredients and inert ingredients that have
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already been approved by the EPA back in 1996. So we were able to launch this under the 25B
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exemption simply because we complied with all of those. And being a minimum risk product has
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a lot of great attributes to it. And we were able to do this in a shorter amount of time
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simply because of complying with all those. Some of the other things that we do is we're
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actively involved in trade associations in the pesticide category because there's certainly
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a lot of conflicts that arise with pesticides from public perception, right, to the regulatory
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environment that we have out there. And so we are constantly working with our group of regulatory
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consultants that we have. And we also have some really good in-house expertise that guide us along
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that I call it the minefield because it changes the times and we got to be able to adjust accordingly.
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So on one hand, it's fantastic that there is regulations out there that watch us. And then
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certainly we have to navigate those. 100%. And I touched on educating communities because people
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have these preconceived ideas about pest controls. And part of that is obviously going to help you
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to infiltrate the market. So how do you go about engaging communities about the benefits of your
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products? Well, so we have a lot of good things that we're doing. So our marketing group and
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public relations is we're really focused on being good corporate citizens, right? And so we want
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everybody to know that, okay, this is different than what you see in pest control. This is not
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poisons that we're using. And then we like to engage a lot of civic groups. And I'll give you
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an example of one of them is we had a Girl Scout group in New York City, in of course New York
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City with the rat problem. They were really concerned because they were saying is that what
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are those black boxes you see on the streets? And then why do they put poison in them? And so
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they designed an underground bait station that uses our product. And they like it because it's
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not a poison. And it's a natural and food additive product. And they designed this bait station
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underground that uses our product. So that was just an example of reaching out to some of those
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groups. And of course, there's a lot on social media these days. And we're really starting to get
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more and more engaged with the activists that are on social media and trying to do better
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for the environment and for people in pest control space. Wonderful. So let's look at some
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partnerships or collaborations that you're currently involved with and shed some light on those
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for us, please. Yeah, so I mentioned our international, which has been one big thing. We've
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have a number of distributors that are out there that cover countries for us. We have it in Hong
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Kong and Singapore and South Africa and New Zealand and Australia and the Netherlands.
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We're really working with them to take evolve down the same path in their countries to get the
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approvals and the regulatory concerns alleviated that may be there. So that's one good thing.
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The retail space has been big for us with ACE hardware. We'll be on Walmart.com soon because
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we've had a number of them that reach out to us and say, this is unique pest control. And one of the
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things that you see from the retail space is when they say, well, you're not going to replace
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anything on here because being the same product, you're going to give us an additional
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product that can be used that's more environmentally friendly and they really like that. So
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our e-commerce expansion has been going, well, I mentioned we were on amazon.com. And so just
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getting into those gives us a whole new group of people and companies and other groups that we
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can interact with. And we're really excited about that. Wonderful. Well, let's touch a little bit
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more on you, CEO and President, Mr. Fruendt. What's your background? Just touch ever so
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slightly on that for those who don't know you and what led you to join this company and
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why do you support the mission so strongly? Well, I spent my career, I spent over 15 years
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in some areas that were immediately relevant to this. And that was in the regulated pest control
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and vector control space. So I know that the challenges of that controlling pests to protect
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public health and maintain a higher standard of living, I really know what those challenges are.
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And that really came to be something that when the opportunity at Senestech came about,
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that really kind of led me to that opportunity and made me really interested in it. I know
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and understand the players within the pest control industry and the vector control industry.
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And really the vital role that they play in protecting and preventing against
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disease outbreaks. So that was my, you know, I love the industry and that kind of drew me towards it.
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I also have extensive experience as a leader of large organizations and how to grow organizations,
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which is where we're at right now, a smaller size company, but about to become a large organization.
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And I will do the same thing at Senestech, is grow the business, do it in a way that we
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interact with our customers on a daily basis in a positive way. And I really believe in the mission
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and the people in Senestech. So when I put it all together, it was the right opportunity and I
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jumped at the opportunity. I'm sure they're really lucky to have you. Touching on this,
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the most recent news update yesterday, there's a reverse stock split for Senestech. Do you want to
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touch on that and how you see that benefiting your existing shareholders? Yeah, so we did a reverse
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stock split is, you know, our share price hasn't really reflected the value in the company. And
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in order to keep the price above the dollar per share on the NASDAQ as per the regulations there,
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we decided to do a reverse stock split. And we think that over the long term, this will be great
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for the company because it keeps us as listed on the NASDAQ. And as we move forward, you're going
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to start to see some real value that's generated there. 100%. Let's touch on some future goals
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and milestones. What are you aiming to achieve in the coming years? Well, I think that when we
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look at, you know, Evalve being such a key driver here. So really, when you look at it, it's like
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we're only seven months into launch and we've done a lot and we've identified these key channels for
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us. As we move forward and with our exclusive distribution agreements and the channels that
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we've identified and the stocking orders that we've had already in not only the United States,
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but around the world, we expect to have many more of those approvals come along. So we're going to
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be growing the markets that we serve in North America, but we're also going to be growing those
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markets globally. And we're skilled at, okay, how do we get the products approved for use?
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And we're in the process of doing that. And when you look at it, it's like adding those to our
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lineup, those distribution channels to our lineup and focusing and having strategies for each.
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We're going to see a ramp up in sales like we haven't ever seen before. Any final closing statements?
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I always love ending with about three key takeaways that you'd like our audience to
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remember as they close off this, as we close off this conversation. Yeah, I think the key takeaways
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are there are alternatives out there in the pest control industry that don't deal with death. They
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deal with how do you stop the reproductive rate environmentally friendly. And I think the most
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important thing is that you don't have to have poisons in order to control your pests. And we
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can do this in a way that is good for everyone out there. Excellent. That's the next CEO and
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President, Mr. Joel Fruendt. He's here helping the next to improve the health of our world,
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but you're mainly managing animal pest populations through fertility control. On the NASDAQ as
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SNES. This is Carmel Fisher. That's it for the harvest. Remember to like or subscribe
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anywhere you listen to podcasts. Stay tuned for more.
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