Big Biz Show 08-05-25

Episode Transcript

Speaker 1 (00:00):
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Speaker 2 (01:00):
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Speaker 1 (01:08):
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Speaker 6 (01:12):
As mentioned on this program.

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Investing in securities is speculatives and carries a high degree
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Speaker 2 (01:17):
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Speaker 7 (01:22):
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Speaker 3 (01:33):
I like it, Hey exenner rescue friend and over one
hundred and seventy five countries, all the ships could see.
You can hear us on the American Forces Radio Network.
And as we say to the brave men and women
of our United States Armed Forces, thank you for.

Speaker 6 (01:47):
What to do with you?

Speaker 3 (01:47):
Dumb for us?

Speaker 6 (01:48):
That is the day trade of trio.

Speaker 3 (01:50):
Back here at the bar's Costa, it's Ray for Godwin,
and it is Sully.

Speaker 6 (02:00):
Who do we got coming up?

Speaker 3 (02:02):
We have right now. He's become a quick favorite of ours.
The chairman and CEO of Smart kem Our good buddy
Ian Jenks of course, ticker symbol s m t K.

Speaker 6 (02:11):
Hey catch us up.

Speaker 1 (02:13):
This is interesting because when we first met you a
couple of months ago, and of course you're probably traded
on this TOOXS S MTK. It was interesting to think
about back when we saw and I keep on thinking
about the replay because Mike's is a pretty well known
sports personality here in this country.

Speaker 6 (02:29):
Remember the miracle, it's a miracle, yes, with nineteen eighty.

Speaker 3 (02:33):
Lake Placid, al michaels A Winter Olympics.

Speaker 6 (02:36):
Do you believe in miracles?

Speaker 1 (02:38):
Yes? So the point is if you look at the
if you look at there, and maybe and maybe Chris
can bring up in our Emmy Word winning director Jerry
Colin can bring up on the the the caliber of
what we thought was state of the art it eighty
four eighty nineteen eighty eighty eight eighty plaid.

Speaker 3 (02:52):
Yes.

Speaker 6 (02:52):
And every year, every year you.

Speaker 1 (02:55):
Buy a TV, and you can even go to you know,
best buy or wherever you go, you can tell the
quality literally.

Speaker 6 (03:01):
Every six months or something different.

Speaker 1 (03:03):
Yes, How often do you get to have a paradigm
shift and something that is so locked in the wall
in terms of technology, And now obviously you guys are
doing that, talk about the micro led space, talk about
the you know, it's pretty soon, if we get enough light,
it's gonna look like we're the same room as whatever
we're watching on TV.

Speaker 5 (03:19):
Correct, sure, absolutely, you know, so, you know, you talk
about paradigm shifts, there haven't been that many paradigm shifts.

Speaker 8 (03:28):
You know.

Speaker 5 (03:28):
The original one was those cathode ray tubes, and then
we sort of moved to LCDs and then to olets
and each one of those actually took about twenty thirty
forty years. And so once a new well, once it shifts,
it's it stays that way. And there's a new technology

(03:50):
on the block. It's called micro LEDs. It's the same
things that you have in the light bulbs that sit
above you, So a lot less power consumption, a lot
brighter and true color, so you know, instead of having
to draw the drapes every time the sun shines through

(04:11):
on your favorite when your favorite sports channels that are playing,
you'll be able to keep them open. So you need
about sort of what's believe it or not. They're not
the same things that crawl around in your in your skull,
but you need ten thousand knits. That's a you know,
that's sort of the amount of brightness that you need

(04:32):
to have true life color. And you know so and
only micro LEDs can actually get you there. The real
issue though, is how you make them.

Speaker 1 (04:45):
Yeah, so that's the question, because before there's a pile
of glass, there's a pile of connectivity, there's a pile
of ships, and we've got you know yourself to robotics
out look at it. You know, I can't think of
a better you know what your even what you're watching
us on right now, and no matter where you're in
the world, it looks pretty darn good. But it's not

(05:05):
even close to what we're talking about where it's going
to be. And mainly it's not just because the quality
of the ingredients. It's because the way you're making it.
Talking about how you make it, you're basically.

Speaker 6 (05:13):
Poured absolutely so points right.

Speaker 7 (05:16):
Yeah.

Speaker 5 (05:16):
So typically on a microwa forty inch television you have
twenty five million micro LEDs and these things are just
a few microns across, so they're tiny, tiny things, you know,
one twenty thousandth the size the thing that you see
in your ceiling. And traditionally you take an array of

(05:38):
transistors on a sheet of glasses, you say, and you
try and pick and place all of these tiny little
micro weleds and it's a process that doesn't yield and
we turn the problem upside down. We take the glass,
we put the microLEDs down, and then we literally pour
our transistors on the top and we align them using
photolithographic technique, the same things that they use in the

(06:02):
silicon industry, which meant much higher accuracy, much more repeatable,
much higher yield.

Speaker 8 (06:08):
Since that's the essence.

Speaker 5 (06:09):
Of what we did.

Speaker 3 (06:10):
Ian Jenks, chairman and CEO of Smart Kim their Tickerson
well S m t K. So happy to have him
with us today here on the Big Big Show.

Speaker 9 (06:18):
Hey, Ian, I have a question for you speaking of though.

Speaker 10 (06:20):
Before I get to that, I just want to say
I was just in your homeland and I had a
fabulous time and I'm sorry I didn't connect with you,
but my kids had me going all over town.

Speaker 9 (06:28):
But I want to move back.

Speaker 6 (06:32):
Yes, it was always in England.

Speaker 9 (06:33):
Yeah.

Speaker 5 (06:36):
Last time I was on, I gave her a few
few tips of the shows to go and see.

Speaker 10 (06:40):
Yes, and I did and it was fantastic. I did no,
but I did see Rachel Ziggler sing don't I did. Yeah,
it was fantastic. Yeah, let's just talk about musical.

Speaker 9 (06:52):
Theater for the next ten minutes.

Speaker 10 (06:53):
Anyway, I have a question about AI, and we talk
about it with almost all the guests because it seems
to be impacting every time technology, every industry.

Speaker 9 (07:02):
So how is AI impacting what you're doing?

Speaker 10 (07:05):
I was reading about an AI chip and so can
you talk to me how that miracle affecting what you're doing?

Speaker 5 (07:12):
Well, so in two ways. So clearly, if you have
better displays, even really small ones, then you get that
better experience on your AR AR glasses and so you
can start to have virtual reality, bringing AI literally into
what you're looking at. But for us, actually there's another

(07:35):
very interesting application for our materials. So you know, these
AI chips that you make are really quite large and
consume huge amounts of power, and so people are now
dividing the chip up into little chiplets where they take
the individual functionality and they do kind of the same

(07:56):
thing with micro LEDs. You know, they put them out
in a piece of glass and then they try and
puts stick them onto transistors. And we recently signed an
agreement with Man's in Taiwan to take our chip first
LED approach to packaging of AI chips. So we do

(08:18):
the same thing. We turn the the AI chip upside down,
put it down on a piece of glass and pour
our materials over the over the top and photo and
patent it all and the connectivity photolithographically. So taking our
materials into another very exciting market, which is the packaging
of these AI chips.

Speaker 6 (08:37):
And now Mike's hungry.

Speaker 3 (08:39):
Yeah, you had me at chipsy in he said, I can't.

Speaker 6 (08:42):
U believe I said chipless or in said cippus.

Speaker 1 (08:44):
Hey yeah, Okay, Now that the control room is geeking
out on all the technology, let's talk about stuff that
people will be amused at. The addressable market here, we're
talking internationale in the billions and billions and billions. Are
we talking about forty billion dollars? One billion dollars or so?

Speaker 5 (08:59):
The display market as a whole is actually two hundred
and fifty millions.

Speaker 1 (09:05):
Well because because because this is also a display, and
in fact, every display.

Speaker 6 (09:11):
This was not in our lexicon in two thousand and seven. Yep,
like we didn't. There wasn't the word iPhone.

Speaker 1 (09:16):
And if you called MIC's a phone, I'm away from
a camera at the moment. I'll get back to I'll
get back to.

Speaker 8 (09:22):
Uh.

Speaker 1 (09:23):
Well, that technology you're talking about end up on on
our iPads and our cell phones at some point do
you think or do you think that's given?

Speaker 8 (09:29):
Absolutely?

Speaker 5 (09:30):
Oh okay, so you know, whether you're packaging the chips
or you're looking at making better displays. Eventually the sort
of technology that we're introducing will and uh, we hope
on every single display that there is, from the display
that's going to go on my little smart ring to

(09:53):
the mega sized displays in the stadium.

Speaker 1 (09:57):
You know, your question for you in terms of verticals,
is it the consumer vertical that trilo amos is that
the as you just mentioned would be the sports are vertical.

Speaker 5 (10:07):
We make, we make materials, so we want to sell
lots of materials, and so we want to do big
displays whilst you can use our materials for small displays.

Speaker 6 (10:18):
You know, the.

Speaker 5 (10:18):
Bigger the display, the more material we we sell. So
our initial market is that we're targeting is nothing smaller
than sort of a laptop type screen and then going
up to the you know where they actually stitch these
moderately sized displays together to make these huge, gigantic displays.

Speaker 1 (10:40):
So my, my, my, my, Once again, my optimism is high.
That's we're going to see something better than we're about
to see on the way of the break his.

Speaker 3 (10:48):
Name is Ian Jakes, Chairman CEO Smart Kem. Their tickler
symbol s n t k Ian. Always great to visit
with you. We will have you back on soon forward.

Speaker 8 (10:57):
Meant to see you soon.

Speaker 6 (10:58):
Guys, Thanks, but I'll talk to you.

Speaker 3 (11:01):
Big B Show continues. Sunny Soun in California is a
place inside the lock Throw one hundred studios that the
day Pater Trio. Of course back here at the bar,
it is Tasta, it is Sully, and it's very.

Speaker 1 (11:14):
Like Goodlin's here, Dan, Dan, So when you left here,
were you going.

Speaker 6 (11:18):
To the high? Was it really close or it was close?
It was close?

Speaker 11 (11:22):
And then I've been here since and we yeah, it's
about it's almost two weeks. Tomorrow's two weeks.

Speaker 6 (11:28):
We were talking out there. It's like having a kid.

Speaker 1 (11:29):
He goes, no, no, it's not like having I get
to hand him back.

Speaker 6 (11:32):
He said, yeah, yeah, you.

Speaker 11 (11:33):
Get to hand them back. And it's just so interesting
how this generation deals with having babies, which they've been
having babies for do you know, thousands of years they've
been having babies.

Speaker 6 (11:45):
You know.

Speaker 1 (11:45):
Also, I hear the Bartelliary's one hundred percent in this world.
So me and Mike got like, what twenty good summers
left in five bad ones? Dan's got like forty good summers.

Speaker 6 (11:52):
Left for the same age. Look at this man, Well,
congratulations my friend.

Speaker 11 (11:56):
Yeah, it's very exciting.

Speaker 1 (11:58):
Okay, A couple of things. Dan's book Chasey Loves is
right here on set somewhere, I'm sure. But there's also
he's a college professor here.

Speaker 6 (12:05):
I am a college yes.

Speaker 1 (12:07):
And at the same time, we keep talking about human
work force, human capital and AI. Yeah, and whatever that
means is new correctly.

Speaker 11 (12:20):
And especially in the classroom, which is pretty fascinating, Like
we have to now teach them how to use AI
because AI is going to make all the difference. Yes,
they are, they not you necessarily interestingly enough. I mean
we had Cassidy here right, yes, and she was calling
it chat chat and she has a picture of chat
on her phone and it's her best friend. And I

(12:42):
do think that they're approaching it like that, but they're
not very evolved relative to prompt engineering yet, which is
you put garbage in, you get garbage out. So Cassidy
was telling them the story of a friend that doesn't
you know, just everyone says, refine this, refine that, But
you really can have a relationship with Chat as your
AI thought partner and really push it hard. And we're

(13:05):
not teaching them that.

Speaker 1 (13:06):
But here's my question, in terms of AI and human capital,
how is that? What's that going to look like in
ten years? What's gonna look like in eighteen months?

Speaker 11 (13:14):
In eighteen months, I could be much better at I
think we're going to get a lot better at partnering
with Chat as we talk to it and have a conversation.

Speaker 1 (13:22):
So you're literally considering it as a person, not just
a resource.

Speaker 11 (13:25):
I don't consider it a person, because I am aware
that it is a computer.

Speaker 1 (13:29):
Right, But I'm saying, but what I'm talking about leaders,
I'm talking about it as a collaborative partner, right.

Speaker 11 (13:35):
So if you want to say as a person an individual,
I say to it. So, for example, I was just
doing a LinkedIn post, a two part series on our
new reel coming out talking about AI, and one of
the parts was how are we approaching students to teach
them in universities how to make Chat or Gemini or
any of them the AI copilot their partner, how to

(13:56):
push it? Like I say, give me a better post
than that was that was a little light on this
and this. Don't you think it was a little bit light?
What could we do better? I'm having a conversation.

Speaker 9 (14:06):
That's the question. Don't oh yeah, it was a little light?

Speaker 11 (14:09):
And where do you think we were light? And where
do you think we could get more research? Where would
you get that from? How would you poise it if
your audience was focused on this?

Speaker 10 (14:17):
I have a question about this because I know instagramstcart
yes seo. Google is now going to be indexing and Instagram.
So if you have posts, so if you it will
if you google Sullivan Band, depending on what our caption
is on Instagram, it will index that and it'll show

(14:38):
up and it'll put our Instagram post.

Speaker 9 (14:40):
It never used to show.

Speaker 6 (14:41):
Us what's caption me?

Speaker 9 (14:43):
Like the copy that you write underneath the photo.

Speaker 6 (14:46):
Like we may be fat, but we're sloopid. Yeah.

Speaker 10 (14:48):
So that's what I mean is we used to write
catchy phrases like that, right, It was like this is
my taglines taglines underneath the photo. But now businesses should
be really utilizing key words in their caption because that's
going to be indexed on Google. So you could use
chatt to help.

Speaker 11 (15:09):
Make this sound sexier, better, attract more people attract this
type of audio.

Speaker 9 (15:13):
Make sure you have the keywords get more.

Speaker 11 (15:16):
Get me more speaking gigs by the caption, right.

Speaker 6 (15:19):
Yeah.

Speaker 1 (15:19):
I think what's interesting is when you mentioned a few
weeks back, maybe it wasn't Cassie was instant your Cassie
Smith with one of our people are going to bring
our hearts like they all do.

Speaker 6 (15:29):
Goes back to school. I think next week when.

Speaker 11 (15:31):
A real live gen z.

Speaker 6 (15:34):
Fantastic and.

Speaker 1 (15:36):
I think you you mentioned I think when she was
on there about a shared language. Right, So the shared
language is this partnership you're talking about that didn't exist before.
This language that two people speak, or to to partner speak.

Speaker 6 (15:50):
Or to businesses speak.

Speaker 1 (15:51):
It's a language suddenly that is that is intrinsic to
their moving whatever, whatever, whatever work is forward, whatever sort
of a motive category goes forward.

Speaker 6 (16:04):
It was interesting, like even writing music goes for it. Yes,
I was.

Speaker 11 (16:08):
Actually thinking that about for you today. You could put
in lyrics and say this is not pushing I'm trying
to express X. Why is it not pushing? This strong enough?
What's a word that rhymes with feels like? Because it
was vulnerable and.

Speaker 1 (16:22):
The reason I got stuck on stupid there for a minute.
Is because I can't think of a single lane. This
doesn't apply itself to if you think of it in
terms of a shared language.

Speaker 11 (16:31):
Yeah, a partnership. It is a partnership. It's a collaborative.
A friend of mine described it. I think we talked
about last week as a collaborative thought partner like if
you treat it like and it's so cool. It gave
me like a tagline as just a grandpa but not
comfortable with that going as.

Speaker 6 (16:47):
Dan dang like.

Speaker 11 (16:49):
It gave me that back literally for my email tag line,
and then it gave me twelve other alternatives that were
equally as snarky. Yeah, and I was going to podcasts
to get you know, interviewed about are new speaking things.
And it gave me custom emails for all the twenty
different podcast shows based on what they would say with
a snarky line that related to them.

Speaker 3 (17:10):
Dan and Groni Professor New Grandpa Chasing Relevance Steps to
understanding the next Generation.

Speaker 6 (17:20):
Here is that book.

Speaker 3 (17:22):
As far as that is concerned, is the bigger hurdle
our generation dealing with it and learning it as opposed
to the younger generation taking it and making it work.
Best for them.

Speaker 11 (17:32):
Yeah, I'm gonna answer it as I answer all questions.

Speaker 6 (17:35):
Yes, answer it.

Speaker 11 (17:38):
Yes, I think it's it's a problem both ways. I
think younger people need to feel more comfortable in their
own soul, skin, body, confidence to be able to talk
to chat, you or anyone better. And we need to
be better and more open to using it. And lots
of us old folks aren't.

Speaker 1 (17:56):
This is right, That's what's necessary. Is a faster path
way to leadership readinesses. I think, yes, a collaboration because
we're talking about the end code side one of the
dcode side. You've rid the decode size, the old part.

Speaker 11 (18:07):
Both sides, which so it's a great question and the answers, yes,
both sides need to which is what the book was.
It says six steps to understand engage not millennial leaders,
but next generation. So now it includes gen zs and
soon alphas.

Speaker 1 (18:20):
For all the years been in business, you have now
had me thinking and you have had it from a
several years of all the hundreds.

Speaker 6 (18:25):
Of miles of thousands of miles of bicycles we've written together.

Speaker 1 (18:27):
Workhouse you've done together is about team productivity is only
part of it.

Speaker 6 (18:32):
Yeah, it's the other part of what you call it
is called hiring hiring alignment. Yeah, there's two pieces. So
you got the A and the B. Well happen unless
you have the hiring alignment.

Speaker 11 (18:45):
You've got to hire the right people for your culture.
You can assess that. You can use data. You can
predict what ninety percent reliability will this person fit right?
Will Cassidy be great here?

Speaker 1 (18:55):
Because if he insures of hiring alignment and team productivity. Man,
imagine nineteen seventy two.

Speaker 6 (19:01):
You're hiring the best person with the best resume.

Speaker 1 (19:03):
They're trying to make thirty five forty thousand dollars a
year as their top thing.

Speaker 11 (19:06):
And then together that usually looks the best where it
sounds like exactly.

Speaker 6 (19:10):
Right, and then the other side and then the other
side of it, Yeah, we're honest.

Speaker 1 (19:13):
And then the tea to our activity back then was
you know, you know, you ever read the book Management
Techniques of Attila Hunt. They talked about middle managers, Right,
middle managers way to go? This really is the most
efficient way. I bet this elevates productivity in the next
five years, like we've not even seen.

Speaker 11 (19:26):
I cannot tell you how much work I got done
before I even came here just like talking to Chatt,
I get to talk in my ideas. They now have
this agent mode and up yeah yeah.

Speaker 6 (19:38):
Dan Grony, Okay, we did a whole program. We did
a program and then we're asking about content.

Speaker 3 (19:45):
Oh boy, Dander Groni speaker, CEO, Coach, Consultan, chief Blotch officer,
professor and Dan Dan aka Grampa.

Speaker 6 (19:56):
Love with this guy.

Speaker 3 (19:57):
Busits with us right, keep it here much want to come.

Speaker 6 (19:59):
With the V Show.

Speaker 3 (20:19):
The Big V Show rolls online for the Lockdown hundred
studios here in southern California. I hope everyone's having a
great deal. We appreciate you being along for the ride.
Pasta Mary forg Godwin and Sully.

Speaker 6 (20:31):
May you have me along today.

Speaker 1 (20:35):
Our next guest is Amro Albana. He is the co
founder and CEO. I'm gonna try to do this best again.
I believe it's audite text if I'm not mistaken, hell
or audit audit x T.

Speaker 6 (20:44):
He's gonna tell me what how to how to pronounce
the name.

Speaker 1 (20:47):
But it's interesting with with respect to what these guys
do in terms of une health monitoring and modulation and
giving us his time.

Speaker 6 (20:55):
The CEO that's how important. Here amro Albana. I'm nice
to see you. Thanks for coming on studious, appreciate it here,
Thank you for having us. Can you tell us how
to pronounce it? Is it? Is? It?

Speaker 1 (21:05):
Is it audit text or audit x T or do
audit text audit text?

Speaker 6 (21:12):
Look, I nailed it.

Speaker 3 (21:12):
You nailed the first time.

Speaker 6 (21:14):
So talk about for the because people, you're the first.

Speaker 1 (21:16):
Time you're on the air, hear with us. Talk about
what you guys do. How how are you changing the world?

Speaker 8 (21:21):
Uh? Look, we're basically identifying innovations that are truly promising,
whether it's in the field of autoimmunity, cancer detection, women's health,
with the whole purpose of making sure that we can
bring these innovations to the public and to the markets
and to those who need it most.

Speaker 3 (21:38):
Amer, How tough is it to sift through what I
am going to assume is maybe volumous information about where
you should go with the company and what is worth
I guess going down that wormhole to bring to light.

Speaker 8 (21:54):
Look, it is truly one of the most challenging, you know,
journeys you can take to really identifying innovation, especially in biotech.
I mean, I think you guys appreciate how difficult biotech is. Sure,
I'm like software, Like I'm like high tech. Look, you
can't just develop a molecule over you know, a month period.
It takes time. There's human testing. So it is challenging

(22:17):
that That's what makes it that much more critical for
all of us socially to make sure that these innovations
get a chance to become commercial and we can get
into more, you know, kind of what we're doing with autoimmunity,
what we're doing with cancer, what we're doing with women's health.
To get an appreciation of why we have to we
have to make sure that these innovations become publicly available.

Speaker 1 (22:41):
Hey, ro you know, it's interesting we may broadcast and
be listening to us, you know, and in Broot you
maybe watching us on television in New York City. We're
all over the world, and we happen to be broadcasting
from San Diego, which is which is obviously a biopharmacy center.
It has been for a long time. And it's interesting
how oftentimes we hear about target immune technology, target immune therapy.

(23:05):
And I always wonder because even in the local radio
stations here, the local television stages here not we're national
and international, but I'm talking it's the local markets. How
often we see advertising for Scripts Health or Script's Research
or Sharp Health or Sharp Research, And I'm always wanting
what is the tiebreaker?

Speaker 6 (23:22):
What is the bigger, better, faster, stronger, cheaper?

Speaker 1 (23:25):
For example, with you guys, what what are the what
are the biggest things that sort of different differentiate you?
See I said that correctly as I would have said voluminous.
By the way, when Mark, when Mike said, vollamus.

Speaker 6 (23:37):
Just good. But long story short, what makes you guys different?

Speaker 1 (23:40):
What what makes your immunology therapy different or at least
the capacity from other companies.

Speaker 8 (23:46):
This is as objectively as I can be look generally speaking,
for the last fifty sixty years, the whole concept of
addressing our ow immunity is through immune suppressions. So the
immune system is attacking our own tissue. This is basically
what causes autoimmunity, whether it's multiple scrosses, type one diabetes, risis,
it's the whole. It's it's really our immune system somehow

(24:11):
forgetting our own tissues and it will begin to adapt
it so in one way or another, or one form
or another. We've been addressing we meaning generally speaking, addressing
autoimmunity through suppressing the immune system by blocking it when
it punishes. We believe we have a fundamentally different approach

(24:31):
to autoimmunity by retraining the immune system and teaching it
and reminding it of our own tissues.

Speaker 6 (24:39):
Wait, waita wait, let me. Isn't that sort of what
a vaccine does? I mean, are we vax it? We're
vaccinating ourselves with our own immunity immunology? Is that is
that similar?

Speaker 7 (24:48):
No?

Speaker 8 (24:49):
No, we're yeah, we're really not dealing with a vaccine.

Speaker 6 (24:52):
No, No, I'm not being an ollious. I'm talking about vacine.

Speaker 1 (24:54):
I'm saying what you're doing by using your own by
by retraining versus versus blocking, is and that what we're
doing when we use vaccine.

Speaker 6 (25:02):
Isn't that sort of the same technology?

Speaker 8 (25:04):
We're really Yeah, we're actually so we're not we're not
up modulating the immune system, meaning we're not asking the
immune system to attack something. We're actually asking the immune
system the opposite of not attacking something, right, So we're
down modulating the system. We're actually sending instructions. I mean, look,

(25:26):
I can I can use the word reprogramming the immune
system to actually stop from attacking a specific cell or tissue.
That's the key here that we're actually you know, retraining
the immune system not to attack something versus attacking something
that is a threat to us.

Speaker 3 (25:45):
Amra Albana is the co founder and CEO of Auditechs.
Their website is adi t xt dot com.

Speaker 9 (25:54):
So is this a technology?

Speaker 10 (25:57):
Is this something like I was a radiation or a
pill or what's the format in which this is administered?

Speaker 8 (26:04):
Yeah, this will be actually designed to be an injection
right now. Look, for the last five years, we've accelerated
the technology. We obviously believed in it. We're working with
you know, world renowned institutions, and our goal is to
literally get into human trials as early as first half
of twenty twenty six this coming year. So imagine an

(26:26):
attempt to literally retrain the immune system where it does
not attack our own tissues. And we're starting with multiple SCROLLA. Sorry,
we're starting with stiff person syndrome, which, as we probably know,
is what Celine Diiana is dealing with. We're starting with
typon diabetes as well as sorisis.

Speaker 1 (26:46):
You know, first of all, when every time you interviewed
bio pharma company. I get more, I get more hopeful
about some of the therapies here you're looking at. But
this is a horrible question I have to ask you
because it's grotesque in terms of the fact that you're
a CEO of a public company. Let's face it, you
are here not only to say lives what you're here
to bring shareholder value? What is the addressable market in
terms of dollars for what.

Speaker 6 (27:05):
You guys are doing?

Speaker 8 (27:07):
Right? So, I mean, look, when it comes to autoimmunity,
and this is just one portion of our business. We
haven't really discussed cancer detection, but look, when you're looking
at autoimmunity, you can imagine the you know, more than
one hundred million people are impacted by autoimmunity one way
or another. So when we're starting with you know, type
one diabetes sorices, I mean those alone have tens of

(27:31):
millions of patients in the US and globally. But now
if we can truly show we can retrain the immune system,
then it becomes a platform for indications and diseases beyond
type one diabetes, devices and sbs, and that's that's that's
the potential we're going.

Speaker 6 (27:49):
After it so what does it look like.

Speaker 1 (27:52):
Let's go hyper short term ourk the FDA story in
the next six eighteen months and then where do you
see this thing in three to five years?

Speaker 8 (28:00):
Right, So again attitechts, you know, we're not a single
molecule you know, technology company or you know, we're not
focused on a single technology. Just talking about adding une
it is what we are aiming to do. We would
like to file, We would like to be in a
position to file for FDA by Q one of next
year and obviously pending regulatory approvals. We would like to

(28:23):
begin human trials in Q two of twenty twenty six,
So that's pretty near's.

Speaker 1 (28:26):
Term by the top line data after you go, so, yeah,
new new drug application next year, human trials.

Speaker 6 (28:34):
What's what is the what's.

Speaker 1 (28:37):
The horizon on top line data after that first human trial?

Speaker 8 (28:42):
Well, I would say probably twelve months from the beginning
first in human trials. And look, we do not see
ourselves commercializing the technology taken all the way to commercialization.
We really you know, we want to begin with phase
one two A, which is important because we're not starting
with healthy patients. We're actually starting with patients with the

(29:03):
indications assuming again regulatory approvals, and we're looking about twelve
months from beginning of the trials to begin to get
a sense of you know, data in terms of safety
and in terms of efficacy.

Speaker 3 (29:15):
Emerald abot A, co founder CEO of aditext the.

Speaker 6 (29:20):
Excuse me.

Speaker 3 (29:21):
Their website is ad t x t ANRA. One question
for you, what's the most critical challenges when it comes
to immune system monitoring as it stands right now?

Speaker 8 (29:33):
Look, we cannot we cannot treat anything without understanding what
it is. So the concept of monitoring it is simply
to begin to understand with high precision what the status
of our immune system is. Otherwise you cannot address it
with precision, just like we discussed with add Immune in

(29:54):
terms of therapeutic So Persontive, which is a second subsidiary
that we have, is focused on that monitoring and precision diagnostics,
and we're starting with early cancer detection in prosted cancer
indometrios is of course, indometrios is no apology related, but
we're starting with prosted cancer and the plan is to

(30:14):
follow up with ovarian brist cancer and other types of cancer.

Speaker 3 (30:17):
Amro Albana, co founder and CEO auditext, A d I
t xd dot com is the website. Their ticker symbol
a d t X.

Speaker 6 (30:27):
You will see a lot more of.

Speaker 3 (30:28):
Him and a d t X part text on this show.
All right, keep it right here.

Speaker 6 (30:33):
Much more to come with the Big VI Show. Do
not go anywhere.

Speaker 8 (30:50):
Mm hmm. Thank you guys very much.

Speaker 3 (31:10):
Live from sunny southern California. We are inside the Loft
one hundred Studios, New Year. The Big, Big Show is always.
We appreciate everybody.

Speaker 6 (31:20):
Beat along for the ride, wherever you're watching, wherever you're listening.
I hope your New Year's off to a good start.

Speaker 3 (31:26):
In Costa mary Burg Godwin, Greg Totter, Rob and Sully.

Speaker 6 (31:32):
David. Thank you, Dave, Trevor Tree. How was your holiday, sir?
Shall we good time? It was beautiful? You like it
very mellow.

Speaker 1 (31:43):
Brian Jordan, did you play for any major access this time?
Run Tray Sojourn Hodgens did you save your voice?

Speaker 3 (31:50):
Save my voice?

Speaker 4 (31:51):
But played with Rebecca Jay So that was cool?

Speaker 1 (31:56):
Is the sherman and CEO of Gold Royalty to one
of my favorite guys. This guy's one of the smart guys.
A gold business and uh they trade on the New York
Socke Exchange. G r o Y is their stock symbol,
and of course he is the chairman and CEO of
Gold Royalty Curve.

Speaker 6 (32:09):
You know, Gold royalty companies.

Speaker 1 (32:10):
Are at the top of the food tack, basically finance
companies for gold, and David knows everything from A to
Z about this stuff. David, great to see you man,
Thanks for coming back. Let me get you back in studio.

Speaker 7 (32:18):
Man, Happy new Year and nice to see you too.

Speaker 1 (32:20):
Hey, can you talk about a little bit about what
we're seeing with inflation? You know, since the since the election,
you know, there's a lot of there's a lot of
bright spots in terms of you know, it looks like
new businesses coming into a lot of industries and so
on and so over.

Speaker 6 (32:33):
Then we get this horrible.

Speaker 1 (32:34):
News that mortgage rates are climbing to eight percent because
they're going to the opposite direction of the Fed. Gold
has often been talked about as a hedge against inflation.
Can you help us understand where inflation stands right now?
Which you where you think it's going to be here
the next let's talk about six months to eighteen months
and are we going in the right direction or not?

Speaker 7 (32:51):
And no, it's very sticky and I think gold is
an accurate barometer of that long end of the yield curve,
as you correctly pointed out, is an agnostic and act
barometer of what's really going on with underlying inflation. So
inflation rates are significantly higher than the headline numbers might indicate,
you know, three percent. That's really fiction. It's economic fiction.

(33:11):
It's not the reality on the ground. And gold is
just reflecting that and reflecting the need the desire of
the central banks to continue to expand monetary supply because
they've got so much debt to deal with at the
federal level, there's no other way to deal with it
other than the printed away.

Speaker 1 (33:28):
The other thing, too is, you know, as you've mentioned
before and some of your predecessors, Trey Wasser for example,
who used to have on a regular basis, is the
more money flow, the more money we dump through the system.
Inflation follows right after that. And it's almost a barometer
where you can almost predict that gold prices are going
in the right direction. I mean, for right now, I'm
looking at gold futures right now are at twenty six

(33:48):
sixty two ninety. Gold futures are crazy right now in
terms of that if you were a betting man, the
trend is your friend. This is the right time to
get into gold and gold royalties at this point.

Speaker 7 (33:58):
Right absolute, I mean gold of three thousand could happen tomorrow.
That's an easy prediction to make. The question is how
far up will it go? And it'll be entirely a
function of how much money supply will increase. And I
think it's going to have to increase substantially more to
deal with a massive amount of debt that the federal
government is strapped on. And if you look at gold
over a fifty year arise from when the central banks

(34:19):
actually eliminate the gold standard in the early nineteen seventies,
it's been a one way trade. Gold's gone from thirty
five dollars announced to twenty eight hundred dollars announced today,
whereas the purchasing power of the US dollars declined by
over ninety six percent.

Speaker 3 (34:32):
David Garofflo the chairman CEO Gold Royalty. Corporate ticker symbol
is groy David. As far as the new administration coming
in with President Trump, is there any hope on your
part of being able to possibly dig drill in areas
that maybe you weren't the last four years.

Speaker 7 (34:49):
Well, I think that bodes well for mind development generally,
but the lack of expiration over the last decade means
that even if the regulatory regime improves, we're not going
to see the evidence of that for at least a
decade or soapbooks typically, the timelines from discovery to first
production or fifteen to twenty years, and the lack of
access to capital for the juniors in our space, all

(35:10):
the explorers are the ones that do all the heavy lifting.
The grassroots expiration that we need to continue to perpetuate
our industry simply hasn't been happening for the last dozen
years or so. So even if the market's open up
for those junior companies and they made significant discoveries tomorrow,
we wouldn't see any mind supply reaction for at least
a decade to fifteen years.

Speaker 9 (35:30):
David, we've been talking about the industry.

Speaker 10 (35:32):
How does Gold Royalty specifically benefit from the increase in
goal prices?

Speaker 7 (35:37):
Well, look, we have optimum leverage to the goal price.
We have unmitigated leverage. In fact, all of our revenues
really from the top line at the mindset. We get
a percentage of the grosser revenue, so it really doesn't
matter what happens to their operating capital costs. Our margins
are ninety plus percent because we have very low overheads.
We're effectively a financial institution. As a selling pointed out

(35:58):
earlier on, we're a bank that provides capital that explorers
the developers, the operators well otherwise have been able to
access capital, as I said earlier on for the last
dozen years or so. What we do is provide that
capital to expand and explore their properties while we take
a royalty back and return as repayment.

Speaker 1 (36:14):
Hey David, before we let you out of here today,
I want to talk about how you guys compared to
other gold royalty companies.

Speaker 6 (36:19):
So this is what's really impressive. That's why I love
your company.

Speaker 1 (36:21):
That's why I beat I beat up his phone lines
while rough there to try to get him to come
on more.

Speaker 6 (36:25):
But you guys, really do you are leading the sector.
And last count, what is the two hundred and forty
two hundred and twenty royalties? What are we looking at
right now?

Speaker 7 (36:34):
Yeah, two hundred and forty five royalties. But I think
most importantly there's a couple of characters, six of our
portfolio that really are standards. One is over eighty percent
of our portfolio is in three jurisdictions Nevadica back in Ontario,
which are the best jurisdictions in the world for mineral potential,
low political risk, and little regulatory risks. But also three
of the five biggest producing gold mines in North America

(36:56):
have our royalties on them. So not only do we
have fonted and diversity of the royalty portfolio, but we
also have some foundational cornerstone assets. They're going to provide
a newdies for our shoreholders for decades to come.

Speaker 1 (37:08):
The thing you're looking for most forward too, and twenty
twenty five in as much you can share with us
as a CEO of public company, what are you looking
forward to in terms of your company and of course
gold as a whole.

Speaker 7 (37:19):
This year inflection year. We only started business a little
over three years ago. March of twenty twenty one is
when we ipo'ed with no revenue. This year, we're free
cash flow positive for the first time in our history,
so we've reached that inflection point where we're generating positive
free cash flow. We don't need to go into the
market raised money that means for sure, value accretion through
cash flow earnings for the first time in our history,

(37:42):
driven by some of the biggest assets in North America.

Speaker 3 (37:45):
David, always appreciate the visits with this air and the
Big Bis Show always gives us hope for the gold future.
Appreciate the visit. We'll have you back on again soon.

Speaker 6 (37:53):
David Garoppolo R. Or why is that chicker?

Speaker 1 (37:59):
I feel better now after talking to Howie earlier today
about the Sam Yeah.

Speaker 3 (38:02):
That's take time, Thanks David. David brought us up from
the Howie conversation.

Speaker 6 (38:09):
All right, keep it here.

Speaker 4 (38:10):
Lots more with the Big Big Show right after this.

Speaker 9 (39:02):
As I take it.

Speaker 8 (39:15):
At the time.

Speaker 11 (39:19):
At the

Speaker 6 (39:23):
Bed