Crown ElectroKinetics Corp. (NASDAQ:CRKN) Q4 2023 Earnings Call Transcript April 1, 2024

Crown ElectroKinetics Corp. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good morning, everyone, and welcome to the Crown ElectroKinetics Corporation Fourth Quarter and Year End 2023 Conference Call. At this time, participants are in a listen-only mode. This conference call is being recorded A replay of today's call will be available on the Investor Relations section of the Crown's website. I will now hand the call over to Jason Assad, Director of Corporate Communications for introductions, and the reading of the Safe Harbor statement. Please go ahead.

Jason Assad: Thank you, operator. Good afternoon, everyone, and welcome to Crown's fourth quarter, year end 2023 call. With us today on the call are Doug Croxall, Crown's Chief Executive Officer and Joel Krutz, its Chief Financial Officer. Before we begin, I'd like to remind you that today's call contains certain forward-looking statements from our management made within the meaning of the Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities and Exchange Act of 1934, as amended. Words such as may, should, projects, expects, intends, plans, believes, anticipates, hopes, estimates, and variations of such words and similar expressions are intended to identify forward-looking statements. These statements are subject to numerous conditions, many of which are beyond the control of the company, including those set forth in the Risk Factors section of the company's quarterly report on Form 10-Q for the fourth quarter ended 2023 filed with the SEC.

Copies of these documents are available on the SEC's website at www.sec.gov. Actual results may differ materially from those expressed or implied by such forward-looking statements. The company undertakes no obligation to update these statements for revisions or changes after the date of this call, except as required by law. Now, at this time, it is my pleasure to introduce Doug Croxall, CEO and Chairman of Crown. Doug?

Doug Croxall: Thanks Jason and welcome everybody to our fourth quarter and year end 2023 earnings call. I'd like to start today's call by talking about our film division first and then I'll talk about our fiber-optics division. As many of you know, Crown has been working towards achieving a path to develop its embossing master for 12-inch wide film. The path that Crown embarked on quite some time ago involved combining its internal techniques with the efforts of one of our European vendors. Crown is attempting to create something that has never been done before. Technical discovery can often be inherently unpredictable. Crown is at many factors that delayed our mastering development, but with the delays came critical learning and eventually leading to progress.

As you may recall, in February 27 of this year we announced the Crown's EK film team had solved the 12-inch mastering challenge for its Gen 1 smart window insert. Also minor refining is required including some tooling replication. We remain in a great position to start shipping first product in small quantities in July, August timeframe of this summer. With this technical milestone behind us, Crown recently announced that Sheldon Davis has joined as a Senior Advisor. If you look at Sheldon's work history, you will immediately see that he's well positioned for Crown's exact stage of growth. Importantly, Sheldon and I have known each other since 2016, while he was working at Guardian Industries, a Koch Industries company. He's knowledgeable of our ink formations.

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