Good afternoon and welcome to the Intrusion’s First Quarter 2021 Results Financial Conference Call. [Operator Instructions] As a reminder, today’s conference call is being recorded for replay purposes. I would now like to turn the call over to Joel Achramowicz of Shelton Group Investor Relations. Joel, please go ahead.

Good afternoon and welcome to Intrusion’s First Quarter 2021 Earnings Conference Call. I am Joel Achramowicz, Managing Director of Shelton Group, Intrusion’s Investor Relations Firm. Joining us are Jack Blount, Intrusion’s President and CEO; and Franklin Byrd, Intrusion’s CFO. Now, before we begin the call, I want to remind you that today’s conference call may contain forward-looking statements regarding future events including but not limited to expectations for Intrusion’s future business, financial performance and goals, customer and industry adoption of Shield technology, successfully bringing to market Intrusion’s design pipeline and executing on its business plan. These forward-looking statements are based on estimates, judgments, current trends and market conditions and involve risks and uncertainties that they cause actual results to differ materially from those contained in the forward-looking statements. We encourage you to review the Company’s SEC filings, including the 2020 Form 10-K filed with the SEC on March 9, 2021, and other SEC filings made from time to time in which we may discuss risk factors associated with investing in Intrusion. All forward-looking statements are made as of the day of this call today, Tuesday, May 4, 2021 and except as required by law, we do not intend to update this information. This conference call will be available for audio replay for at least 90 days in the Investor Relations section of Intrusion’s website at www.intrusion.com. Now we’ll start the call off with a review of the financial results by Franklin and then Jack will review Intrusion’s recent operating developments, progress with Shield and the Company’s key objectives going forward. Then we’ll be happy to take the questions. With that I’d like to turn the call over now to Intrusion’s CFO, Franklin Byrd. Franklin, please go ahead.

Well, thanks, Joel, and thanks to everyone who has joined us today. So for the first quarter 2021 revenue was $1.9 million compared to $1.6 million in the fourth quarter of 2020, and $1.8 million in the first quarter of 2020. Revenue for the first quarter continue to reflect the impact of extended government shutdowns related to the pandemic, but we’re hoping to see positive signs of recovery as Washington begins to reopen and a more normal ordering patterns return throughout the course of the year. Gross margin in the first quarter was 66% compared with 58% last year, and 58% in the first quarter of 2020. First quarter operating expenses were $5.1 million compared to $4.8 million last quarter, which included a $1.1 million non-cash write-off related to a prior office lease arrangement. This compares to operating expenses of $1.5 million in the same quarter a year ago. As mentioned in the last quarter, the increase of operating expenses is due to the additional hiring we’ve had to expand our sales and leadership team combined with increased marketing focus on the development and launch of Shield. To drill down a little further on the additional employees, since the first quarter of last year, 2020, the company has hired 38 additional employees across the board for the development and launch of Shield. The breakdown of these new employees were as follows; 26 in sales and marketing; 8 in research and development; and 4 in general and administrative areas. In addition [Technical Difficulty] the hired employees, we’ve also increased our use of contract consultants for both research and development and our legacy consulting business. As I previously stated, we have continued to step up our marketing efforts in 2021 focusing on the launch of Shield. Additionally, we’ve experienced general expense increases…

Thank you, Franklin. So I’m going to start off by certainly commenting on, I think the excellent progress that we made in first quarter because I’m certainly very pleased by it and think it’s a good indication of the direction we’re headed. We’ve had a actual unprecedented interest in a very short period of time in the Shield product, it’s unique functionality and it’s unique plug-and-play technology that makes it so easy to implement and evaluate. We have struck a number of contracts, most of those being 3 year contracts with some significant companies, 2 of those for example Kimberly-Clark, which we did a press release on and LCI, which we did press release on. Kimberly-Clark’s a Fortune 500 business, LTI believe is Fortune 2000 business, both of them are international businesses with international locations, and they have signed international agreements for 3 years to be able to use the Shield product in all of their international locations. So that’s very, very significant [Technical Difficulty] to the first quarter of a new launch of a new networking technology sub security product. We’re very, very pleased to have both companies on board. We are working very closely with both companies and very excited by the progress that we’re seeing there. Having well-known brands like this certainly increases the opportunities with other companies to make additional new sales. In total, we have licensed over 50,000 seats to date with these companies. That’s an extraordinary success I think in a very short period of time. Our pipeline continues to grow with prospects from the SMB market, from the mid-market and certainly from large enterprise and even government agencies. I was in D.C. all last week for example, and was very encouraged to see the streets full of cars, hotels full of patrons and…

[Operator Instructions] Our first question comes from Zach Cummins of B. Riley Securities.

I just wanted to start off by asking, if you could just give us a general sense of kind of the company of the contribution of the legacy business versus maybe the kind of make more Shield revenue that you’re able to get in this quarter, you saw a nice tick up in the gross margin line versus maybe what we saw over Q4 and Q1 of last year.

Zach, this is Franklin. Yes, so in Q1, virtually the majority of all of our revenue came from the legacy products. We had, as we expected and have always communicated, our Shield sales in Q1 was very minimal because we just launched in Q1 so. But you see for Q1 revenues is largely and predominantly the legacy business.

Understood. And then, understand I guess I don’t want you to provide guidance just given how early you are in the stage of this. But is there any way you can give us a sense of the number of Shield seats that you have right now that are paying versus what you just signed up in the backlog?

Well, we don’t have the exact number of those that are paying today versus our signed under contract. So the 50,000 seats is under contract for Shield but they -- because of the SaaS license, they only pay revenue online in a quarter. So initially, if you have 20,000 seats, do not turn around 20,000 seats in one quarter, because you have to have IT people alert, they have to know what’s going on. Again Kimberly-Clark for example actually has locations in 110 different countries and they’re planning to roll out worldwide. So we have not seen their implementation schedule of how they’re going to get 110 countries, but we know that they’re working on it. So the revenues will come in as they bring on a territory or region and their -- the revenue start paying. So the SaaS model is you pay as you use. So as they ramp up and implement across the market, then we’ll see more and more seats. So the 50,000 seats is what’s licensed, but it’s not what’s being paid for data.

Understood. And then you kind of touched on this, but with that 50,000 seat backlog, I mean, what sort of the pace that we should anticipate for that rollout for these to go live? I know it can kind of vary customer-by-customer, but I’m just curious how you’re thinking about it internally as you build out your plan and your model moving forward?

Well, again, I don’t -- we don’t have enough track record to have history to understand how fast customers are going to be able to implement. We’ve done everything humanly possible to make the product, the easiest product to install and implement every invented. Again it’s -- most customers, in fact, we had 1 customer that had travelled to New Orleans to sell a few weeks ago and their concern and fear was from their IT department and not having the resources to take time to learn a new product and implement it. I literally showed up at the meeting, walked into the datacenter with the CEO and his entire team, installed the Shield product and had it active in 3 minutes timed on the stopwatch. It was in production in use. So we’ve done everything humanly possible, but how fast customers rollout products is all about their customers. So they don’t have to give us a plan of when they’re rolling out which ones, we know when they come online and that’s when they start paying for them. So I would anticipate that they’ll bring on some number of seats each month, but I don’t know at what rate and we don’t look at history to look back and say. They could turn it all on in 3 weeks, they could turn it all on literally in a day, if they wanted to. But most companies don’t operate that way, they go by location, they roll things out in a physical location at a time. They probably will roll up an entire location, which could easily be 1,000 seats coming on at once, it could be 300 seats. We just really don’t have any data, Zach, to be able to determine that. We don’t control it, the customer controls it. So I’d like to give you answers, but I just don’t have enough data, I would be truly guessing and I don’t know that.

Understood. And then I guess, just final question for me. In terms of Kimberly-Clark, I mean how that contract is structured? I mean just depending on the number of seats. Are their requirements where they have to fill those seats over a certain time frame? I’m just curious if it just gives them the option to make a certain number of seats go live or are there some sort of contractual obligation that requires them to roll this out and actually begin to pay for it?

Certainly there is the intent and the desire that Kimberly-Clark will be rolled out fully within 12 months from the very first discussions I have with them. I have not seen a schedule and there is not technically anything in our contract that requires them to implement it in a certain time frame. So I know they have some seats implemented already. In fact, they have some seats implemented at the time of the press release. I know they’re rolling out more aggressively, but I haven’t seen their schedule. So I certainly anticipate that they will have all of their seats online within 12 months. I would expect probably more like 6 months, but again, I don’t have the history to prove that. I mean clearly, they didn’t buy this to sit on the shelf. They buy this because they’re scared to death of cybercrime and it’s only helping you if you get it implemented. So they have every desire to implement it. It’s not a, I don’t want to spend the money, because it’s very inexpensive versus what they are paying for other products and the risk they have if they get hit. So I know they plan to be very aggressive with rolling it out, and I think most customers will be.

Understood. And then I guess just final question from me would be, around kind of the all the hiring that you’ve done over the past couple of quarters. Do you feel like you really have kind of the team in place right now for the expected demand for Shield or how should we think about the ramp with operating expenses over the next couple of quarters?

No, we have said, I think a couple of times that, we think that we have filled the critical positions we have in the company, the sales force, the technical support people, the quality assurance people, all the things that go along with shipping the production product. So we feel like our headcount is largely stable right now. I’m sure we’ll be hiring 2 or 3 people a month or a quarter, but we don’t have any aggressive hiring plans until we see what the implementation ramp is and where additional people are needed. So as we said before, we think we’re pretty stable at about the headcount we are right now to get us through second quarter. We’ll evaluate -- right now, we have plans for a Board Meeting right around the end of second quarter to evaluated with the Board what we’ve accomplished in sales and revenues and whether it’s time to re-engage in new hires or whether we’re going to stay stable for another quarter. So it will be evaluated each quarter.

Our next question comes from Scott Buck of H.C. Wainwright.

First one from me, kind of piggybacking on Zach’s question. Outside of personnel is there any other investment you need to make to feel like you have the infrastructure in place to properly roll this out?

No, we have no major infrastructure enhancements planned. Our data center is stable in place and at adequate capacity, so we don’t have any anticipated expense that will drive anything new right now.

Can I get one? Can you remind us the difference in economics between selling directly through your sales force and using the reseller channel?

Well to the reseller channel makes 30% off of our product, which is basically how most of these evaluate internal cost of direct sales versus channel sales. So while one may sound more expensive and more profitable than the other one, both of them basically cost you about 30% to close sales, whether you are doing it through a direct sales force or whether you’re doing it through a channel sales force. So that’s pretty much an industry average number, that’s how we get to it and that’s how they compare.

Our next question comes from Ross Taylor of ARS Investment Partners.

Jack, on the last call you talked about a number of large and potentially very large prospects, said you were in the demo stage or trialing stage. Could you update us on where those potential customer stand?

Well, certainly LCI and Kimberly-Clark were 2 of those. Again both of those are very large [Technical Difficulty] companies. As I said I think LCI is in the Fortune 2000 category. I know Kimberly-Clark is in the Fortune 500, I think they are Fortune 330 or something. So those are certainly 2 of the companies that had early access to the product, got early evaluations, that I was alluding to during that call. Kimberly-Clark being certainly I mean, we talked about a lot but to win a Fortune 500 company at this early stage of a new technology is almost beyond my excitement. The work that they put in to evaluate technology, the impact it has on their company, again looking at rolling it out in a 110 different countries. I mean this is a major, major enterprise decision and they don’t make those likely. So we feel like this is a bad -- as good of a rubber stamp as you can get that says certified, ready for production. So we’re very proud of that. There are others in the works and it was not just 2, these moved the fastest. Fortune 500, Fortune 100 companies, government agencies generally take 9 to 12 months to make a decision on a new networking technology, I mean, pretty much anybody in the industry will tell you that. I’ve been selling enterprise solutions for 42 years, so I can tell you, it’s always. In fact, in the earlier days that we used to say, it was 12 to 18 months now say 9 to 12 months. So some of these big companies will take longer, both to make the decision to put it in evaluation mode, how long they want to evaluate it. But we are in discussions with other Fortune 100, Fortune 500 and government entities that are very large and very significant, that we’re very excited about and that I will continue with my team to work closely on.

With regard to the government agencies, are they seeing this as something that they would be putting into place in replacement of services you currently sell them or would this be additional and for different uses than the work you’re currently been or the historical work you’ve done with them?

No, it’s absolutely new and additional work. So this is really, again, I think I said earlier in the call, I was in D.C. all last week, specifically to work with government agencies. Was really my first time that I’ve been able to go up there and meet with them and give them demos of Shield and talk about the new functionality and how it works and how -- I think it’s -- so, again formerly be in a CIO in the federal government, I know a lot about what their needs are, and so I know a lot about how to sell to them. So this is additional, they will not displace any of the current work they -- we do for them, but it’s an additional as they would be rolling out to large agencies to all of their employees and their organizations to protect them. So I got an incredibly warm reception all last week in D.C., the demos were well-received by the government as they have been by any company I have shown. We have follow-up meetings with every one of these agencies in the coming weeks and months. So I’m again extremely excited about how rapidly, how openly they accepted the Shield technology. They absolutely love the concept of killing thing rather than generating the worse. They all have their own military analogies to the fact that being protected instead of reporting that you have been hurt after the fact was a radical departure and something that they saw endless value add up.

Okay. And so looking at all of this and you made the comment that chassis Kimberly-Clark was -- by you seen as effectively a proof-of-concept that, the market there’s a lot of uncertainty clearly, the recent price action in the stock market has indicated that there are lot of people who don’t have the confidence in this product that you have and that your team has. So can you comment on why this proof-of-concept was so important? Because obviously the mark -- we’ve have seen a lot of action that indicates that people don’t believe that it means anything.

Well, I wouldn’t agree with that, Steve. I think everybody knows they need better cybersecurity. I think everybody feels vulnerable, every article I read, every conference I go to, I never hear anybody say they don’t need anything. Now not having the confidence in INTRUSIONShield, given the fact that it’s such a new product out of a new company in the sense that we’re turnaround, because we’ve never had a commercial product, I certainly understand their hesitancy on that front and I think it’s normal. But again, traditionally, if you buy like a firewall, you’re going to spend weeks to months configuring it, then you’re going to put it on your network, and then you guys spend months evaluating, did it really help me and how is it better and how do I know it’s better. So these are traditionally solutions that take long periods of time to evaluate. Shield on the other hand installs in 2 to 3 minutes and start [Technical Difficulty] network immediately. Most of the time when I do a demo, we kill from 10 to 20 to 30 malware attacks during a 15 or 20 or 30-minute demo to the customer. So they real-time can see the benefit of this product. Again, if they typically run a month long evaluation, they’re going to find that we killed over a million connections on their network that they didn’t even know were going on. That weren’t useful, that weren’t helping their employees, they weren’t constructive that could only have bad intentions that none of their other products were even generating alerts on. So the value of Shield is so dramatic that I believe the market is going to adapt it very, very quickly. And I think that’s why I’m so excited about a company of the stature and size and speed generally, lack of speed of a Fortune 100 company to move, step forward and step up to the play and say, we want this protection in all of our locations around the world. I think that really proves what I’m excited about and when I think every customer sees when I demo the product.

Can you give us a little bit more color about your database and what makes it so unique? I know that there have been indications and some people on the market, they have indicated that they believe it’s just off the shelf data or efforts indicated to us that it’s actually almost, what I would call forensic data not being a technical specialists. But can you go into more of your database and why no one else has that capability?

Sure. So you have to attribute this back to Ward Paxton, PhD that founded this company 37 years ago. Launched several unique products in several markets, fiber optics, firewalls, et cetera. He is a brilliant man. When the Internet launched, he envision the fact that tracking Internet traffic would be the forensics that you need to really know what’s going on in the world. So he set up and started a database 25 years ago, to track international traffic connections from all points A to B around the world, on the Internet, real-time, the forensics, who’s talking to what, what kind of data are they sending, what is their IP address, what is their URL et cetera, et cetera, et cetera. So they started tracking this information. And for a long time, I don’t think they really had a plan of what they were tracking too far, but except that that Ward had of vision that data would become valuable. Well, after a few years and they started getting all these government contracts to do forensics work, they found that the only way they could solve these problems the government was bringing was to do research in this TraceCop database that they had been building that nobody else in the world had because nobody realized that tracking information is important. So we spent the last 20, 25 years doing forensic work for the DoD on cyber breaches that they can’t figure out on their own, that’s why they hire us as consultants to [Technical Difficulty] engineer and figure them out, and the only way we can figure them out is by using the TraceCop database, and so much of that is actually done based on historical relationships and connections. So while you may think, something that happened 15 years ago…

Yes, I think it actually does. I’m going to leave you with one last -- it’s not a question but it’s a request. By our calculations that when you get to kind of full run with a spect each 50,000 seats you generate is probably worth about 4$ or $5 a share in value. I don’t need you to come out and tell me every time you win a big contract, but what I’d love is, in these early days to show to the market that you’re getting traction, you let us know at various important benchmarks. Said we like when you talked about being over 50,000 seats, when you get 100,000 seats, you can let us know, when you get 150 to 200, Because it seems to me [Technical Difficulty] right now that this is something, I’ve learned long ago is that, I don’t necessarily have to know how a product works, but I know that if the right people and if smart people are buying it and using it, then it probably does work, and it seems to me that right now the proof-of-concept here is really going to be showing the market that there are people out there who actually know more than they do about these issues, that are making the choice to use this product. And as I said, the leverage by our model is huge. And I would welcome [Technical Difficulty] information.

Thank you for that comment. I agree with it completely. We will absolutely keep the market appraised of our seat count as it grows. As I’ve said, we won’t be able to do every product, I mean, every release to every customer, because a lot of them won’t allow it, but again, we had 2 large ones which were huge. We certainly can give you a seat count even if we can’t give you customer names, and I think to let the market know every time we add another 50,000 seats is a very reasonable thing and we will be delighted to do that. I’m going to be excited as you are to watch that number grow because again that proves the value that I bring into the market, to help stop the horrendous cybercrime problem the world is facing.

Our next question comes from Howard Brous of Wellington Shields.

Jack, in several past calls, you talked about that Shield prevented SolarWinds, can you describe how that’s possible? On how you refine that up? Please go ahead.

So you have to understand how Shield works a little bit. So unlike most cybersecurity products, we don’t use signatures. So let’s back up a little bit. SolarWinds was once called a zero-day attacks. What that really means is, it’s a new attack with an unknown signature, so therefore no cybersecurity product can identify it and stop it and therefore it’s going to breach networks until somebody identifies it and starts knowing how to look forward. That’s what zero-day attack means. So when the SolarWinds attack was being launched, it was an unknown thing, so therefore, it appeared as harmless to everybody’s network security and therefore it got on a lot of networks. The way we work is we identify even zero-day attacks by using artificial intelligence, this TraceCop database to understand patterns related to traffic that suggest its malware even without knowing what it is. So how do we identify and kill SolarWinds? Because of our AI identify the patterns of these attacks and said, this looks like evil stuff to us, we’re going to kill it not let it happen. But we write that in our database. So at the time we were doing this last August, September, we didn’t know that was SolarWinds, because SolarWinds haven’t been identified yet. But we were seeing things we thought we evil that we were killing. Well, once SolarWinds became public, they identified the signatures, they published them on the Internet and everybody could go start looking [Technical Difficulty] from their network and trying to clean it off their network. We went back and looked in our database and said, yes, we were killing those attacks back in June, September, August before anybody knew what they were. So we didn’t know that we were killing SolarWinds, but we knew we were killing a new unknown attacks. That’s how we start [Technical Difficulty] exchange attack recently after SolarWinds. Again, we were killing that attack when it came in as a zero-day attack because our AI can identify the patterns to say, this is not good therefore, we’re going to kill it, because it’s not good, killing it didn’t hurt anybody because nobody knew it ever been killed. And it’s in our database, we didn’t know it’s the Microsoft Exchange things, you didn’t know what the Microsoft Exchange thing was last year. But in March, once we became public what it was, we could look at our database and say yes, we killed thousands of times the Microsoft Exchange attack, the SolarWinds attack. So that’s how we can kill even zero-day attacks before anybody knows what they are and we can prove we did it because it’s recorded in our database, the time and date and the number of times, the occurrences that it was attacking. Does that make sense?

Makes a lot of sense. So we’re continuing -- no, makes absolute sense. For years Intrusion with TraceCop Savant has been a sole source supplier to the Department of Defense. You’ve indicated on this call and others that, business through -- legacy business is getting better. And I want to address certainly, the Department of Defense and one Zach did go through, talk with me about the opportunity there; 1, in terms of number of seats and where you stand in terms of testing?

Well yes, I was busy with organizations in the DoD, I was visiting with organizations in USDA, I was visiting with organizations and treasury, I was visiting with a number of organizations in the United States government last week. I was very busy. Again it was good to see the government back to work, trust me. The reception I had was fabulous. So it was incredibly positive. A lot of questions, a lot of doubt and uncertainty, because what we do is radically different to what other products do, but I believe that they are more aware than ever that they are exposed and vulnerable and that the products they have aren’t working. SolarWinds and the Exchange breach, just to name 2 of them that the public us aware of prove to the federal government that they are not secure. Both of those attacks breached multiple government agencies and hundreds of thousands of employees. So they’re very upset about it. President Biden just announced that he is working on a new bill to dramatically change the requirements on the federal government for their cybersecurity defenses because he believes what they’ve been doing is inadequate. We met with people who are aware of that bill, that we want to make them aware of what Shield is, how it would make the government state and we are trying to constantly to get more exposure in the federal government to understand how Shield works and how we can help them solve their problem. So the government is very, very serious and aware of cybercrime threat and that they are not doing enough to stop it and that current cybersecurity products are not protecting them. So we believe that creates a absolutely garden opportunity for Shield to come in as a unique patented AI technology that can add a new level of safety to their network. USDA has 110,000 seats to know when you asked about seats. Since I used to be their CIO, I can answer that question. They have hundreds and thousands seats, it’s a pretty big implementation.

You said that -- talked about public aware on specifically SolarWinds and Microsoft Exchange. Are there others that the public is not aware of that you can comment on?

Well, there are certainly others that I could comment on, if I had to list them firmly and there are major breaches announced every day. I get repaid -- and it’s different countries get hit with different breaches at different times. I get reports from around the world right now. I have a lady in India that’s working on that part of the world and gives me reports every day. So there are breaches every day. We’re going to add a section to our website very soon, where we kind of are the centralized site for learning about more breaches readily and we’re going to be promoting that very heavily. I can tell you that I talked with government agencies because I do have top secret security clearance, when I was in D.C last week, about other breaches that have occurred that I can’t tell you about on this call. So there are more than just the SolarWinds and Exchange that has hit government agencies in the past few months alone. Again, the government is very seriously concerned. When the President starts talking about a bill specifically for cybercrime, I think it tells you how alarmed the federal government is right now.

Our next question comes from Russell Cleveland of RENN Capital.

My question is around the Beta testing, it seemed like that our plug-in service, it doesn’t take months of testing. So can you tell me more about the Beta testing and again, the characteristics of the companies. You mentioned earlier that there were companies similar to Kimberly-Clark and that kind of size and of course the government is very exciting. But tell me about the test they have to do here and the timing on all this. Any thoughts there?

Certainly. Well, just to be clear, terminology varies. Beta means to me and generally to the industry, a pre-release product. So our Beta testing was only being done prior to Shield going into launch in general production. Now we do evaluation system, so they are not technically Beta systems. But it sounds like you’re really talking about evaluation system. So we are keeping evaluations out every week to various customers of various sizes. Again, the product is remarkable. One of the things I’m normally most proud of because of all the pain and agony I’ve had as an IT professional in the industry for 40 years, learning and installing new security products on networks is a horrible, horrible task. And so, when I helped the team here design Shield, I told them this had to be a revolutionary plug-and-play product because IT is already overwhelmed, they don’t have the time to evaluate technology. So we have patented the process of how we do plug-and-play on such complex software. There is normally 100s of parameters you have to set in the network type appliance even get it to become active. Shield plugs in, identifies its network and begins protecting you 2 minutes after you turn it on. So we can do very rapid implementations and evaluation. One example, probably the best I have so far is the one I mentioned. I flew to New Orleans to meet with the company, where I was friends with the CEO but his IT staff did not believe they needed Shield, they thought they had the bases covered, they didn’t need yet another layer of cybersecurity and they didn’t have the time and they didn’t want to evaluate it. But he was worried enough about ransomware and breaches of other companies like his that he…

Yes. So the challenge here is not so much here of time because it’s proven very quickly, it is just legal and Board approvals and corporate bureaucracy, not testing and getting the product into the market.

You’re right. I would say we spend more time upfront with the CFO or the CIO around administrative and legal things than we do around actually evaluating the product. The product proves itself almost automatically.

Our next question comes from Jay Bruno, [ph] a private investor.

My history with your company goes back to, believe it was 1995, possibly ‘96. Long time ago, I discovered the company while doing research and as far as technical research. And then I learned about the technology and kind of had me hooked, I ended up investing quite a bit of my clients’ portfolios into ODSI and I had very good relationships with -- at the time with Ward and Joe Head, the Investor Relations, man, I think his name was Gordon. Anyway, finally, something that I heard 25 years ago from Ward directly when he told me he was building a database, I just heard the results of it. 25 years later, and I’m looking at after-market trading and then markets is just a wonderful place, the way it does that. They look at numbers and they don’t look at the future. Anyway, I’m a new investor in IMTZ and anyway, I just wanted to kind of affirm the fact that, things I heard 25 years ago now have a 25 year track record, especially at TraceCop. I believe that was called ProtoCop in the beginning and -- yes, and I mean I was there -- go ahead.

I wasn’t here that long so I can’t attest to that only you can. Joe Head and I mentioned was Ward, Founder. Joe Head is still here, Senior Vice President in the company, he is my most valued ally and resource in the company. His knowledge on cybercrime and forensics activity is some of the top in the world. And Joe is just a pleasure to work with. I’ve enjoyed in ever since the first time I met him here, and certainly, he is the person that can talk to and attest to why he and Ward started the TraceCop database and how valuable he’s watched to grow to be over the past 25 years. So thank you so much for that very kind comment. That was very kind of you

One other thing, I just want to people listening to understand, I believe this company is one of the, if not the pioneer in cybersecurity, you were looking at hackers. Back before they hackers. Back before there was a cybersecurity law and I believe this company had something to do with that law being going into effect. And I’m sure Joe has a lot of [Technical Difficulty] stories. So.

Joe does. This company has been a pioneer in cybersecurity forensics work for 25 years. There’s no doubt about it. I heard first hand from a couple of very senior, in fact one of the guys, he’s is retiring next month, Joe [indiscernible] so he knows Joe back when Joe first called on in 25 years ago and he was commenting [Technical Difficulty] one of the amazing things that Intrusion has done for them over the years. So they believe that we are a pioneer and they certainly believe and we’re excited in the new INTRUSIONShield product as a revolutionary game changer and that’s the way I feel about it. I’m very, very proud to be here, working on this product and I really believe we can help businesses around the world.

We have no further questions at this time. So I will hand the call back over to Jack.

Well, thank you very much for coordinating at, this was a very good set of questions. We appreciate those very much. We always like talking to our investors and I just like to make a couple of last comments. This company is the closest thing to a family I’ve seen out of any business I’ve ever worked at. I really enjoy working here and I want to put a shout out to all the employees of Intrusion for their hard work, their dedication and their excitement and their zealousness about stopping cybercrime. I think they’re doing a great job for America and I’m really, really proud to be here to be working with them. We are doing some upcoming things that you may want to be aware of. There is an Annual Shareholders’ Meeting, May 18th, there is a Needham TMT Conference on May 19th that I’ll be participating in and very exciting Black Hat Security Conference July 31st through August 5th is going to be live and in-person this year and we are a senior sponsor in that event, and we are very excited about the exposure we’re going to get, the exposure the market is going to get to what Shield really has to offer and that set of highly technical audience. So I know you’re going to want to participate in that if you can. Thank you so much. Have a wonderful evening. Goodbye.

Ladies and gentlemen, this concludes today’s call. Thank you for joining. You may now disconnect your lines.