 How you doing? I'm doing great. How are you? I've had better days. Yeah. You had a surgery? Yeah. I had the surgery yesterday and I'm supposed to feel like I have a cold for about two weeks. Oh. Like I have a cold. Is that for sleep acne? Is that something that? You know what? I sure that contributed. I played hockey for a number of years and great body check. Mass came in. Yeah. That's what I mean. Fifty would have happened. I already dealt with it now. Wow. Well, I'm glad that you were able to make it. Thank you for joining us. Super excited for the world. Really looking forward to this. Yeah. Super excited to have you on the show and got our community watching and a lot of our members are already in on universal prop tech. And I wanted to just get into it and ask you a couple of questions. First and foremost, what exactly is it that universal prop tech does? Okay. What exactly does it generate on an annual basis? Okay. Great. Great questions. I'll take the second one. So historically, it's been about a $10 million a year business. So for about 40 years, to be honest with you, there wasn't a lot of intention for management. This sucks. There wasn't a lot of intention from management to really pursue more work. They had a steady flow of about $10 million a year from management. They had a steady flow of about $10 million a year from management to maintaining controls equipment in federal government facilities. So it was just a cash cow. And so for them, they were quite content to the previous owners. When we took it over several years ago, I was there before. We had good intentions. And unfortunately we had to get rid of a few people for them to finally come to fruition. So I came back. So that's what it has as it's. You know, underpitting of a business. That is going to have this $10 million a year. HVAC control services business that is going to have this work. You know, not forever, but it has to sell and work. How do we build off this? And when you look out at the marketplace of what they're looking for, you know, this isn't the sexy part. We get that, right? The HVAC services building control is not the sexy part of the, of the sandwich. So how do we start? And so part of it was. Chris, our CEO to go over control the summer. You know, did a lot of great work to get about 1.3 million of admit costs out. And really we talked in the summer, brought me back in. And really put a focus back on what do we want to be? Where are we going? And so universal prop tech was a big part of that. It was really understanding where the markets going, where investors are going to understand the appetite. And there's a whole, there's a whole bunch of layers of what it is we're doing from an investor perspective. You know, you can invest in prop tech. You can invest in something that's, you know, not edgy, but something that, you know, it's riskier to make an investment solely in a prop tech company, but we can help de-risk it. We can put it through our HVAC and controls folks into live organizations where we can deploy it. And as we help de-risk it, we can then help take it to market further and greater than just Canada for that matter. So we think our starter kit is great to really deploy prop tech and really increase the share of wallet of, you know, more than just HVAC and controls, it's building performance. We had an outfit today. So it's talking about artificial intelligence. How are you optimizing how buildings operate? So if you look at all the components of a building, building systems, energy systems, air quality, we're now tying them all in. And as you've seen in a number of previous announcements, that's the air quality piece rolling through and we're not done yet. Now we're starting the AI and we're not done yet. So there's a lot of pieces we looked a bit to bring in and, you know, patients, but we have a great plan to get there. And certainly we're going to blow by this $10 million a year once we get going. It's just, I think once all the pieces are in, it becomes easier for us to start looking at, okay, what are those targets now? What are we really going to achieve with all these different pieces? So that's where we're going. That's great. I mean, even 10 million a year, your stock's sitting at 27 cents. There's not too many companies trading at 27 cents that are even making 10 million a year with your tight float. So from that perspective, I think this is very undervalued, very underappreciated, very underexposed. In fact, I have so many members all over the world in Germany. They can't buy it because it's not listed there in America. They can't buy it because it's not listed there. And they want it. They keep asking me, how do I get UPI in America? How do I get UPI in Germany? Any ideas or plans to expand to those markets? So there's certainly a plan too. And I think we have to wait for the right decisions by certain bodies, but absolutely there's an intention to, to expand south of the border. And hopefully in fact, I don't think it takes very long to do it in Germany, but it's something we've already been talking about. Fantastic. That's great. We're excited. And I think a lot of what we're looking at as well, we'll take us, again, some of the investments we're looking to make, we'll take us into markets of that. Those actually make a lot of sense for us. If we're going to have the presence there, might as well have a listing there. Well, I can honestly tell you that we've worked with so many companies that we're kind of like stuck at a certain level. As soon as they got listed in America, I don't know why, what it is, they double. Yeah. It's wild. And it's because there's just such a huge market in the US. And when they get that US listing and then the buying runs in, it just, it's like rocket fuel for the stock. I've seen it on deal after deal after deal. I think you're right. And I think part of the problem is that until just prior to the break, we weren't promoted at all. And so that was part of what was the challenge leading up to that was, don't know, we have to get, we have, we have to get promoted. We have to make sure there's enough shares out there. So we've done additional raises. So we're doing everything we have to do to lead up to where we're going. Without that, it doesn't work. And with that, and without our plan, it doesn't work. So as we bring in these technologies and start wrapping them in into what our new offerings are going to be going forward. It's a much more sophisticated sell to the actual, the facility owners, managers. It's really taking it to a different level. Still providing all the services we're providing, but we're now adding more on top of that and expanding it. So, and I've been in this sector for over 20 years. There is this massive paradigm shift from this old, you know, how do you all jobs and controls pick up on this old model, even utilities that have a lot of utility deals where they're living off this, we're all paying the price for it. We're all paying way more for energy than we should. They're living off this paradigm. And as we're shifting it to a very customer centric AI, IoT cloud driven model, they're not going to win with that. In fact, they don't win at all. And so no one who's living off that is part of my friends going to go piss on their own corflakes. So this is where we, you know, we certainly see the opportunity. We know it resonates with customers. And I'd say part of this is making sure it also resonates with investors. And so we think we have a pretty good plan. We're bringing in the products and the approach that makes sense. You know, some people have even asked us, well, why, why multiple products on the UVC side or ionization on the clean air, because number one, you can't just rely on one. Doesn't matter what everyone says out there. You know, they're all slightly different. There's no one winner in this marketplace. And all of them are different because depending on the type of school or facility you have and the, and the age of the equipment and the, you know, the condition of them, ionization might not work. The UV might not work in a certain location. Is it in room? Is it a central system? And you have the proper air flow that's going to disseminate the ionization as far as you need to disseminate it. All these things are factors that are determined on a case by case basis, very customer centric. You know, if we're going to be their trusted advisor, what makes sense for that site? So having our hands on a few of them make way more sense and saying we're only riding one. And then when you add on to that, all the additional things we plan on bringing in, I think it makes it a much more fuller picture on in their quality play. The second piece of that as well, I would say is try to get product. A lot of these guys who are doing well because, you know, people think their product is really well, we'll take you several months to get it. Well, I don't think we have several months. So we have to be able to have enough solutions in our arsenal that we could help us at that. Now it's vital that we invest as a community in companies that have a strong balance sheet and strong fundamentals. What does the balance sheet look like as far as like assets, debt, cash, you guys have a strong balance sheet right now? Yeah, I'd say it's pretty strong. We were sitting on just under $2 million in cash. You know, we have good receivables. We have debt is now our convertible debt is down to about I think 500,000. Nice. I think we're almost out of debt. In fact, I think soon they'll probably all be converted. So we're certainly in a good solid spot. I think as things play out, we're certainly interested in another raise sooner than later to really expand on the acquisitions and investment opportunities we have in front of us. So I think the fundamentals are pretty good. Obviously our Q1 results, I thought were pretty good. You know, with COVID, our, our gross profit was up what, three times, almost three times compared to our last Q1. That's impressive. That wasn't in COVID then. So, you know, we've got some good fundamentals going. We're turning things around. You guys have been putting out a lot of news. You just had a press release about an agreement, a distribution agreement with fresh air UV. Can you tell us a bit more about the agreement and how does fresh air UV work exactly? So we have, so it's great. We have fresh air. We had admits there. We have air sniper that just came out in the last week. So again, we're building up our arsenal. So fresh air is a UV, turbo saddle UV technology. So it's lamps, it's blue light lamps. And then the atmosphere is an ionization, bipolar ionization solution, right? Which it works a little differently. And then air sniper is another UV solution again. I was some other added benefits. So about that, I mean, it's simple. This is the time of COVID. So everyone's looking for, you know, yeah, I have my Dyson upstairs, but the Dyson isn't going to kill COVID or isn't going to stop the spread of it. So all these technologies are coming out. And the intent is, you know, where in the HVAC system in your ventilation system, are you going to put these in order to stop the spread? So there's just a whole many plays. And as I was saying earlier, do you put it in the central system in the boiler room? Are you putting it, you know, you have other filters you're going to attach it to? Are you putting it in room? Depending on what type of school or senior, so you can put it in someone's actual room. So, you know, we're going to figure that stuff out. And each one of those solutions are, they're best in their areas, but there's no silver bullet in this industry. And so having just one isn't enough. So fresh air and atmosphere are great, but they're both, they're not exclusive. Their sniper is exclusive. That's the Eastern Canada exclusivity. They're made in Canada. We're looking forward to really glowing out the marketing and the ability to take them to even residential customers. So, you know, we've got our pieces on the pie. And we think we're pretty happy with the additional products that will be coming out to support it. I think the market will say, okay, that's pretty prudent. That's a smart play. So I'll give you a good example too. You can identify, you have COVID in your building. How are you going to fix it? How are you going to clean it? And so we have to have the tools that are arsenal to make sure we're getting to all of that. And the ability to be able to identify. It's very smart. This is a serious problem. It's pretty much shut down most of the world. And I mean, I don't live in a building, but I have a lot of friends that live in buildings and they're literally scared because they're like, I don't know who has COVID around me. You know, and you're living in a building where. This could be airborne. We don't really know. It's apparently it's airborne. So, you know, it's like, how do I know when I'm walking down the hall or that this guy has COVID or that girl's, I have no idea. So he's actually quite smart. When you think about the amount of people that work in buildings, live in buildings. This is a major need. This is not a one. This is a need in 2021. It's huge. And I think the government throw got a lot of money at this. Right. So that's going to help with a lot of the schools, campuses, hospitals, obviously, see your soaps. So that's clearly something we're going to go after more aggressively. But, you know, the COVID testing is about a billion dollar market in North America. The air quality is now moving up as a larger portion of what people are spending their money on. HVAC in general, building controls. They were always in growth mode. They're right. There's always that's happening because of product because there's better ways to deploy those technologies. So air quality has probably just jumped to the front of the line for the next probably a year or so where people are now spending more time worrying about, you know, are we going to make people sick? Is this a liability in our business? Can we open, have our tenants show up, someone gets sick and now we're sued. So we're going to help them mitigate those risks and be able to validate that, you know, they've done what they said they were going to do. So we're looking forward to it. Frank, in December, UPI announced that it signed an agreement to install Delta X trust a conflict contact less facial and temperature recognition technology. Yeah. In a retirement home and a school and sports complex in Vaughan. Can you tell us a bit about these developments and the company aiming at working with more retirement homes? Sure. So we've initiated those deals. I mean, their side. The challenge we have at the moment is while the, the arena, the arena slash school is closed because of the lockdown. So there was no rush to sort of get it in until they knew where they were opening against. We're waiting for that. And the theater. So I think the challenge there has become more. Everyone's ready. It's just they're more focused on obviously vaccines. So it hasn't been a big rush. And I think part of this is we locked out technologies. It was the first one that after we had done some assessments, let's make sense. They're local. Let's lock the bid. I think, you know, temperature is not necessarily as the COVID has been spreading. It's not the necessarily the biggest determinant that someone has COVID or not. And so we continue to look at other solutions that make maybe more sense. It's there at the moment. We're waiting for other things to happen. But I think the things we're working on will just dwarf anything else. We've discussed in the past. We're excited. You know, we Chris, you know, as an accountant by trade by trading, our CEO has put so much time and effort into this COVID play and understanding what this has to have going forward. I think we're pretty excited as to what we'll be rolling out next week. So that's great. I'm excited to be here and to talk about it. Yeah. Do you see the core business ramping up from delayed spending due to COVID last year? The money is there. The governments are putting it out to school boards. Organizations are starting to dish out more of it. I think there'll be a massive push in time for the new school year. So we'll see what we can get done for that. I think, you know, the provincial budget is different than the federal budget. You know, has a different time to it. So the next quarter, next two months, three months, everything starts to roll out if that's sooner, depending on some of these, you know, the province might have excess money that they're planning to release now before their year end. But the big spend will come out as the federal provincial government starts their new year, which is shortly. So we expect a lot more money to be coming out. They've earmarked a lot of it. I think the challenge will be in this marketplace is, can we get our share of it? Can everyone really get enough feed on the street to execute? So we're putting together a plan for that. How's the feedback been of your existing customers? Are they liking these new products? So we've had some good discussions with them. Yes, they are. These are solid, you know, most of our clients are governmental. So they're pretty steady. They're not going to be very emotional about something, but they're pretty steady. Everything we're talking about, everything we're looking at is ideal for all of them. So it's in their sweet spot. You know, we announced a deal this morning with a sensor suite. So most of our clients by far have building automation systems and that's what we service. But there's a whole segment out there, the underserved communities, I call them of small, medium sized buildings that don't have a building automation system. In fact, most multi-residential don't have building automation systems. They have maybe one off or they're boiler. They leave every sweet order to themselves. So I think a deal with sensor suite this morning was about giving us a better tool to be able to, to go after these, these non BAS facilities and ultimately create a BAS lights type package. So we've got our heads, a lot of controls already. Now have another set with artificial intelligence attached to it. It's really set in the groundwork of, of having a far more expensive and data rich, you know, artificial intelligence, building performance business. So. What's your timeline to getting new products to market? It's, it's happening. We're in the process of pulling the bin. I think simultaneously what's also happening because there's a bit of a plan as to all the pieces will fit shortly. The plan as well as we're already, we've begun the hiring process. We posted for a number of new jobs. We're already vetting different people at different levels. So that should be playing out the next few weeks. Great. And it's very important to us that we understand share structure, share structure is vital for our community. We love tight float stocks. You guys are a very tight float stock. Can you talk a little bit about your share structure and how many shares are held by insiders and institutions? Yeah, I think right now we have, I think it's just over 30 million shares at the moment. Fully diluted, I think takes up to 59 million or 60 million. And at the 30 million, I think it's about 70% are basically tightly held. And I think that moves up to about 75%, assuming everything gets executed. Very good. So you're right, it is tightly held. You know, I think some of the challenges are some people came in to help out early on. And I think that's one of the challenges that we're all, few of them as people can see in the stock, why it's not rising very much is that we're replacing new people with people who are taking out their five, 10 X already. So God bless. It's great to see people making money. And I think we're just going to have a whole new slew of people making more money. So pretty happy with that. Okay. So let's explain that a little bit further. So what essentially Frank is saying is that there are people right now that are selling that got in early. They're not taking positions that are literally just getting started in this investment. Is that correct with what you're saying? Yeah, I think, I think what I, when I say there are a few, there's literally like what are two people who. They're not insiders are not people who were part of, they were part of a plan to take out the previous CEO to do things. And they're more than happy to walk away with their, in some cases, 10 times. Wow. So, you know, it's fine. I think it's, it's obviously frustrating when people want to see the stock go up. But I think the net effect is so they're still getting out to their, you know, shy of 30 set range and they're cashing out. We're chewing up those shares, but other people get to commit at a lower rate that I think it should be at until they'll get the benefit of what happens in the forward months, but or even forward weeks for that matter. So I think one thing we talked about is we love it when people do that because, you know, it's frustrating for other investors. But ultimately you want to see people who don't bet on the company. You want to see the blues big like we get when we grow and we expand. So, you know, it's exciting to have a lot of new people coming in. I think they just have to really understand despite my colds or by my problem. We have a good plan. We have some good people. We're building up and bringing in. We're, we're, you know, moving on so many fronts. And we're trying to be as, you know, as, as opportunistic as we can be, but at the same time sticking to a plan and the plans working. So we're pretty happy and obviously we know what we're about to do. So we're pretty excited. You know, we hope people pay attention. I think they'll be an interesting next few weeks. That's for sure. Well, we're paying attention and obviously when you have people selling, this is good that we get a chance to speak and get a chance to see what's going on because we didn't know. Right. So now that we know there's some people selling. You know, there's a lot of people selling. You know, there's a lot of people selling. You know, there's a lot of people selling or one or two. Eventually. They're going to be done. So over. It's not very long before they're done. Yeah. So once that overhang is out of the way guys, and you have to understand the way brokers work. And I've been in this game for a long time. I know you have Frank brokers, literally sit there and sit on the offer. And they'll just unload paper until they're done. That's the way it works. Okay. So you may be, you know, in a week or two talking about a completely different share price. Now I wanted to get into that in more detail. So. Sure. With all the new products and solutions you guys are working on. What's the plan to turn universal prop tech and this business and the stock into super hyper growth. Yeah. Well, great question. I think so it's again, it's a lot of layers. So we're trying to build off of our HVAC. We don't, we don't want to make other investments that are similar to what we have in the, but we do expect to see a lot of changes. So we're trying to imagine the fact that we have this $10 million year business. So a lot of the initial solutions that are coming out are more continuous with what we already have going to market. So how do we expand it? How do we go back to our customers, increase share of wallet. You know, so there's that element. We're focusing on the items that are certainly in our wheelhouse to do. A big part of this as well is okay. Well, So there's an active process to bring in the new line of prospects and customers and hundreds of buildings that allow us to do what we did for these gaps of 40 years for a new layer of customer, right, for a new amount of customer. With the solutions we have, again, if you think about the business from, you know, there's air quality, COVID air quality, IAQ, IEQ, all these different areas where air quality becomes a big issue. There's building performance, so decisions like today where we now have an AI, an artificial intelligence company, are going to help us. Artificial intelligence is great because you can generate 20, 25% energy savings with very little effort because the technology ultimately does it for you. So there's another product we get to take to market that's more continuous and product, right? We're not just doing it the old fashioned way. Then you're moving into, you know, what other solutions do we need for a mechanical group? So we're fixing that and filling that in. Our controls group, filling that in, making sure we have open standard, having a lot of better products that allow us to be fresh and relevant today than what we've done for 40 years. So those are pretty simple. Then you're getting into, well, what else is there, right? So there's the building performance we talked about, air quality, your mechanical controls. Then we're talking about, you know, we're ultimately talking about energy resources. So people are putting in EV chargers, people are putting in batteries, PV, other renewables, cogeneration, people are doing things that are going to require a way more extensive and complicated system to save them their money. And so we're not even talking about, you know, managing while they're building systems that we are, but now there's an ability to actually trade that excess energy far better than ever was in the previous years. So there's something that's coming out of the United States. And then there's the FERC, Federal Energy Regulator, came out with an order back in I think October, could be November called FERC Order 2222. And basically what it said was every system operator kind of like the independent electricity system operator in Ontario, every operator across the United States, and then down to their utilities like a Toronto Hydro. You know, you have less than a year to report back at how you're going to enable everyone's demand energy resources to be tradable. So if I build a campus, or I build a utility system that allows me to save energy, but also store it and also trade it with the market so there's now a big market that's going to happen. So I can get money for selling you know, 10 minutes of my energy. And I do this several times a day a week about the year. So we're now finding ways of turning my energy into an asset as opposed to just a liability. And so this is going to happen in a really big way and the technologies required to make sure that that happens in real time are quite critical. So we have to be part of that and we will be part of that. So we're just we're taking it's a new paradigm. We're taking buildings, they might be operating by the same people, but they will operate quite differently to make sure we save people money. We can make them more money. And ultimately we have a better stickiness and what we're doing going forward as well. Right. I like what you're doing. I know, I mean, I'm working from home, but if I had to go into an office right now, I feel a little bit uncomfortable. I'm not going to lie to you because of the whole idea like what am I walking into. Now, if I knew that that building was fully secure with Universal PropTech and everywhere I went, I was secure. I wouldn't have to worry. I feel a lot more comfortable. I feel more comfortable going to work. I feel more comfortable walking around work. You know, hopefully the day comes where we don't have to wear masks again. And these are the types of products that hopefully can get there. So Rich, I think if you look further, you start to realize that, okay, we're definitely, you know, like any good business right now that's surviving. How do we take advantage of what is presented through this COVID? And so clearly, air quality is a big area. But, you know, look out a year, the systems in place and the tests to get access to a building, the things that are rolling out have to be relevant beyond that. And so we're talking about in a year when your school is open, and you know, maybe it's not COVID you're testing for, but now you're testing for do you have the flu? If you have the flu, we can let you in here today. We're getting to a different stage of how we're going to treat buildings and facilities and air quality is going to be so critical that right now it doesn't happen, but you're going to have sensors, you know, different levels of VOCs and particulates in the air that you'll be monitoring in real time all the time that will then have its consequences. Oh, turn on the eye-diser again, or do this. It's going to become a very complicated, you know, buildings will start to act and feel like an Apple watch, okay? It's becoming that much more complicated and sophisticated, but you can solve these issues. You can make sure that, you know, one thing about buildings that's always amazed me for years is that, think about it, right? You know, you walk into your business in the morning, maybe your retail or your restaurant, you walk in, when you're building opens, you're opening everything. Everything goes on, right? You're not making a buck when you've done that. You're not making a buck until there's an actual sale, but there's a fundamental, it's like a North American glut of energy that we have. Why are things being turned on before you actually need them? Yet, I know people, I did a Boston Pizza years ago. The first chef walks in at, say, 8.30 in the morning. They don't open until about 10.30, 11. What's in the morning? And his first job is, okay, open the lights, get to the kitchen, open the feds, right? The three-phase feds that, okay, you're not cooking anything yet. Goes into the bar area. They all look the same, the Boston pizzas. Turns on the TVs. So now everything is up at a new level of your pay. And if you figured out about 50 to 20% of all your energy costs for the year are what you're not even making a dollar. But you decided to do this as a process. Why? And we can help automate all of that and make it more effective. It's just amazing. You know, we did little things that you have to figure out with technology and an approach. I'll give you a good one. All your guests would be wondering, or all your viewers, like, pick a Starbucks, okay? You know, everyone's got your Starbucks. You got your, you know, you got your big espresso makers. Those suckers are power hunts. So every night when they close a Starbucks, they turn off those machines. But you know what runs the entire night? The steam boiler is running. The entire night is if it's ready for a call of a shot of espresso. Why? So we have to change the way people want to operate their businesses. It will become a big part of getting, you know, never mind 20, 30, 50, 60, 70% reduction in their energy costs because they're being prudent about it. And we will be a big part of that. I like it. If there was one thing that you would want shareholders to know about universal prop tech, what would it be? Watch us. Watch us every day. We have a lot of stuff we plan on putting up. You got to watch us. And don't miss the day. You know, I would just say pay attention. And yeah, you know, I get the odd text from people saying, hey, you know, you know, people are selling wine. Like, if you made 10 times your money, you might be selling already too. And I think, you know, our job isn't to worry about those guys. They made their money. I'd be upset if they were leaving saying I took losses. I like making people money. And that's certainly the game plan right now. I'm not a big shareholder of the company. I do have some options, but I'll tell you, I love being the proverbial craps player, rolling that dice and making everyone around the table money. So, you know, you can't make the money if you're at the table. So hopefully people are paying attention. So does that mean you're going to be buying shares? No, no, it doesn't mean I'm paying buying shares. It means I'm trying to make everyone money. That's what I'm trying to talk about. I don't think people care about me making money, care about me making them money. So I think just, you know, all I can say is pay attention. We've got a good plan. You'll start seeing it rolling out even more. And I think you'll be excited. It's very vital that our shareholders get the opportunity to communicate with the company. A lot of our shareholders like to speak to the company, speak to investor relations, speak to chief growth officers like yourself and get a better feel for what's going on. What is the best way for shareholders that are watching this video right now that we'll be watching after the video is posted? What is the best way for them to get in contact with you or the company if they're interested in learning more? I'd say reach out to the CEO Chris Hazelted or myself anytime, emails, Twitter, pretty active on Twitter, LinkedIn. We're out there. And so there are people who I think are part of your group who reached out and asked a lot of questions that I have no problem answering them. So I think we're in a good place. We want to answer those questions. Fantastic. Well Frank, thank you so much for joining us today. We wish you all the best in your future endeavors. Love to invite you back on the show again. Hopefully you'll feel better and you'll be on time. I would love to be back on. I think this is great. I think I've seen a lot of your episodes is great. And actually, I think you've done great considering you just went through surgery. I think this video has been great. But I'd love to invite you back again in the future, especially as Universal PropTech has bigger news, bigger price appreciation, anything exciting that's happening. Love for you to be able to come on so we can talk about it. Absolutely. Frank Carnaval, the Chief Growth Officer of Universal PropTech Symbol UPI. Thank you guys for watching. If you're not winning, you're not watching. We bring you winners and we bring them to you first. If you liked the video, please smash the like button, comment down below, share the video everywhere and subscribe. Thank you guys for watching. Frank, thank you for joining us and have yourself a great day. Thanks, Frank. Take care of you too. Thank you everybody. Have a nice day, everyone. We'll see you soon.