Eric Adler

We're burning a few hundred grand per month right now.

We're not at profitability yet by any means.

That being said, we can actually get there.

I'm actually confident that if we wanted to, we can be pretty careful with how we grow the business and get to the point where we're actually at a break even within a year.

We got to grow faster.

Minimum is 100% over the past several years.

What got us into water marching was the drought in California.

We started this as a Cal Poly senior project back in 2015 when California realized basically how screwed they were because we have limited water resources and 38 million people living in the state.

So you're trying to figure out a way to basically help people understand how much water they're using and kind of bridge that gap.

We're starting with the initial hardware sale.

We do have a SaaS model long-term, but initially we need to get the hardware out there, begin gathering data, and then we can turn on the recurring revenue.

The hardware is going to cost you $199.

So you can buy it on Amazon, you can buy it on our website, but it's $199 right now online.

Our first sale was actually pilot programs to insurance companies probably two years ago.

And then we began selling on e-commerce platforms about December of last year.

So pretty recently.

The business launched in 2015.

It took about two years of R&D before we really had any product in the field.

It's a good question.

I believe it was about $2 million before we got our first dollar revenue, which is pretty low actually for an IoT company.