 Good to welcome everybody back to the independent investor here the broadcast studio is full of a couple guests here subject matter experts on a duro clean technology with some late breaking news here in the last week They've got some amazing things going on that we have Yazan and Mariusz Konitski here as special guests tonight on the show We are going to have a back-and-forth dialogue on progress where the company has been and more importantly Potentially where this thing is going we're going to hit on a lot of topics You guys are going to want to stick around for this Q&A on a duro clean technology is on welcome to the studio. Please take us off here Thank you so much. Thanks for having me. I think you you said it great. I mean Honestly, it's been After two years plus of being involved in a duo. This is a a moment of pride as an investor to come on Come on and talk about a duro because they finally Have a significant name attached to them That for the last two years have been, you know, among the very few that have been You know pro this name supporting them, you know, whether it's buying things open market buying so on Telling my network about the story. Bye back on. I represent the family office in Vancouver We invest in companies that are You know, I was called at the cusp or at an inflection point You know and came came across a duro about two two-plus years ago in the midst of the pandemic and I'm not gonna mention the name if it comes across then we'll talk about it, but it came after a month of Another company got pitched to us and we were very skeptical Following that name. So I had the pleasure of meeting over and a Here in Vancouver and they flew in the midst of the pandemic and nothing beats, you know, a face-to-face and We went through the entire thing and you know, they they were They were very genuine and they started going through the opportunity and the like but I won't bore you with the details After that, you know, we went through the you know We went through the the NDA process and and then got to know the technology and understood the technology And why it's a breakthrough and then from there on it was They converted someone that you know was very skeptical that there is a way to kind of resolve this waste plastic as well as other Verticals that we'll talk about in this in this interview. Hopefully Absolutely. Thank you. I do want to kick it over to Mariusz. Please and let him introduce himself, but You mentioned skepticism around this. I was skeptical in 2022 the entire US market and Canada is skeptical and dare I say the entire world is skeptical right now and Why why is this any different? Why shouldn't we be skeptical in a name like this? I'll kick it over to Mariusz Talking about skeptical. I was Screaming and crying for three weeks not to talk to me about this idea and You see I was introduced to this idea because I was I shared an investment idea with another person with another friend who Who knows he has on and and you know, he kept telling me Hey, look at this aduro. Look at this aduro and I'm like stop talking to me about aduro Like that this I'm not interested this this company has has no revenues And it just looked to me like every other company out there at on this, you know Canadian stock exchange or microcap space It's like all of you see if you look to these companies all of them have groundbreaking technologies They're disrupting everything. They're gonna change the world and most of the time what happens is that they disrupt your wallet Okay, they don't deliver anything that they're very good and disrupting your wallet So like I was screaming for so long like no no no, but what happened was that Yazan and I Well, I needed help Understanding a different industry and so my friend said well Yazan he understands this in different industry and Can help you understanding that industry? So I was like, okay so we connected we talked about this different industry and And you know and he has on was helpful. He was knowledgeable. So that's how I realized what this guy is not some dummy He he understands this other industry. So I know I'm not talking to somebody, you know I'm not talking to an amateur but then that was it, you know, he helped me I I did my investment and from time to time. He just sent me a text about a duo not nothing pushy or anything But you know just hey look at this and I was just like, you know rolling my eyes It's like no, I'm not gonna look at this But then one Sunday I like took some time and I looked at it and I looked at it more and I looked at it more I'm like holy crap like if this thing if they truly have the solution for what they're saying I mean this thing is gonna be massive and then the next thing I know is I I start putting all these hours into it Then I go to put in Canada. I get you know Searched by you know any Canadian officers They sniff everything around my car before entering letting me enter Canada and and here I am like You know talking about a duo and and I would say, you know I have two investment ideas that compete for the first place and you know And I don't know which one is the bet better like I love them both and our duo is right there So that was my my journey not don't talk to me about it. I don't want to hear about it. Now. I'm talking to you about it Fantastic. Thanks very much. I'm gonna kick it over to Yazan He's gonna speak a little bit more about the excitement surrounding this space The world needs this solution to be blunt and when I looked at this opportunity I was excited right away There was obviously that initial skepticism but when I did my due diligence I was sold And I just for the grand reviewing audience want everybody to understand that you are talking to three share owners in the company And I want to encourage each and every person out there to do their own due diligence But I also don't want you to Pass up on the opportunity to look at this space in general and Yazan's gonna take it over and talk about some of the investments in the space Some of the maybe potential competition if there is any In the space and why this renewed focus if not this initial focus on this space is catching fire as of right now is on Great. Thank you so much. So look, I mean it's I was talking to a very important investment fatigue in the US yesterday and We crossed notes about the duo and you know following that Shell game changer no pun intended everyone's saying, you know, and that's a game changer for the company and so on and then I told them like, you know based on your desk right now with what's happening with inflation with with the like You know, what are you seeing and they told me look? I mean, this is one of the very Few isolated spaces that we're seeing we're able to raise money for we're able to get green bonds for and we're able to get interest from Investors in and I said, you know, what's the driver like again the skepticism side. So they said well following the passage in August of the inflation reduction act Part of that component the component there it says talks about Accelerating a case for investing in circular economy and I bet you prior to You looking at the duo you would have not looked at what circular economy is So in short, it basically means that, you know, you start from Any form of plastic so this you know, this type of plastic you want you want to return it back to an aftercracker Which is basically, you know, again to a plastic form right now today and you gave the example of You know Like chocolate in the wrapper Same thing with these, you know, like right now 80 I would say more than 90 I mean 95% of plastics do not get recycled We put them in a separate bin they go through the process but the issue of contamination means that They're not circular and what happens is they wind up in landfills. They wind up in in oceans. So the the The inflation reduction act said no, we're gonna support these industries because we need to You know help improve the circular economy. So now you're having tax credits. You're having, you know, bonds at the discount you're having a lot of interest and suddenly you have, you know, even The the thermal the approaches are getting money despite the fact that, you know, again They're they're using the same heavy amount of heat and so on. So that was one one one thing in the investment Mariusz and yourself talked about the 2025 fact and I cannot undermine how significant this fact is Okay under this fact basically Whether it's the US, Canada Europe Australia there's kind of different Iterations of the percentiles that they want to have as recycled plastics But the bare minimum is any new plastic any new expansion plastics production They want to have 25% of that fully recycled and Today I guarantee you there are no solutions that results in 25% plus recycled plastic So the third is looking at some of the examples, you know, despite how tough this market has been So, you know, the two examples that come to mind are KBR's investment in mirror technologies near as a I would say a thermal approach plus so in other words, you know, they do have they use water but They still that water requires a different amount of pressure And I'm not gonna be I'm not the chemist in the room but I'm gonna say that their approach requires significant amount of energy relative to that of a duo they still require a central unit and What you see in them is that they're saying that, you know, this KB like KBR is a huge company like when you take go go to the ticker a huge private equity and You know, they went and dropped a hundred million bucks in June to own another 8% of mirror So that's, you know, putting the valuation of 1.5 billion dollars. We know pure cycle, which is a Publicly treated company that was a stack, you know, they do mechanical recycling which is again They're sugar daddy or their company that's behind them is poctering gamble and partner in gamble wants to show again that they're Gonna have a circularity. So what they're gonna do is they use, you know, they put money behind this company That's a 1.3 1.4 billion dollars right now, and they don't have a commercial unit up and running And most recently and I shared it with you guys offline was Samsara Samsara is a is an enzyme Based I would say start up because you know, they they don't have a you know, the third party validation or you know The steps that a duo or you know, some someone like that would say and they've raised 35 million US dollars or the equivalent It's 454 million ad at rough in series a which they don't put them like an exact value that anyway 175 to 350 million US dollars. So there's ample amount of money in this space and this is something that is Contrary to a lot of the other spaces where a lot of spaces are struggling to find money. So That's that's what I wanted to talk about here. All of them are struggling It's hard to find a bright spot in this market. Yeah I get a little more a lot more opportunistic actually it for the majority. It's the same habitual cycle of You know, everybody focusing on how bad things are the worst it gets the more Excited I get to actually purchase and buy and make no mistake for our viewing audience. There will be opportunities that come out of this market and At 40 million dollar market cap some may be sitting there. They may be skeptical They may be being introduced to a duro clean technologies for the first time this evening Why does it matter and I want to kick it over to Maryouche because Maryouche has provided more content to YouTube Than any creator out there on this topic and I want to thank him now for doing that I'm gonna also link his videos in the description. I probably throw them in the comments So they're more accepted accessible to our viewing audience and I would encourage you to go kick hit that content because it is Absolutely fantastic But I do want to get Maryouche here and get his opinion because he can maybe stock up talk about the sentiment right now And maybe how a duro is kind of kind of that shining light that you talked about you son in the market Are you sure? Yeah, so, I mean if you are a student of Warren Buffett or any of the grades You know, this is like a playground for them. You know, I mean everybody loves to talk about Be greedy when others are fearful and be fearful when others are greedy and They're just doing always the opposite because it's so difficult it's so difficult to buy when When everywhere you turn to YouTube channels and they're gonna tell you how bad the recession is gonna be, you know, how I mean Any youtuber you go to financial youtuber you go to I mean just look at the thumbnails Yeah, and you like you want to you want to commit suicide just after looking at the thumbnails It's like yeah, why would I be buying but you see what happens when the thumbnails are wonderful What happens when everybody agrees with you? Well, it It usually doesn't turn out that way because they they send you into worth of crypto or companies Then you know are overvalued and and here we are sitting in a situation where Nobody wants to buy anything. Everybody is afraid to touch anything and They just want to tell you how bad it is and to me. It's like okay if everybody thinks it's so bad What's my competition like I? Have no competition for these stocks Right if I want to go and buy a house Do do I want to be the only buyer at the table or do I want to have 80 people competing with me? Right, it's obvious. They understand this but in stocks They want to buy a house. They want thousands people to agree with them and they want to get a cheap price Well, you're delusional if you think that's gonna happen. So you have this chance here Where we're sitting that you know, everybody is so afraid and here's a company that if you look at the chart We're almost at all-time highs Like yeah, like we're almost at all-time highs on this company and it's it's mostly because it's been undiscovered They they've been going under the radar for ten years. They came out, you know Public couple years ago or whatever but they still were like not talking about anything that their website was working And here they are coming out at this time when the market is so horrible. They have no exposure I mean the exposure is just starting. They just got a contract with Shell and Because you know what the world is gonna Just because we're in a recession doesn't mean we don't need to recycle things just because interest rates are going up Doesn't mean Shell doesn't need to recycle things 2025 is coming up. So so you have this entrant entrance point. That's that's That's probably favorable and then so what about the upside? Well In one of the most recent videos that I did a calculation just you know, I looked at Shell How much Shell wants to? recycle and they want to recycle one million tons of plastic per year and If they they are the ones that are going to choose a duro and we don't know for sure But if they do right that would equate to almost a revenue level of $200 million from one client and then that kind of revenue is a licensing revenue Licensing revenue is the best kind of revenue you can have Because because you don't need to you don't need to build a plant. You don't need to hire people I mean those things have to be done the plant has to be built but somebody else is paying the bill so for you you're just getting a check in the mail and So this kind of revenue is a very high-margin level revenue and very high quality revenue So that that 200 million You know revenue level that will translate to I don't know 150 175 million of bottom line So now you tell me what is that kind of bottom line worth? I would say a minimum of three billion dollars That's One client puts it in the mid-cap category Yeah, there's sport and margins at 50% which is incredible And I want to get you as on-stake on this as well because I know this is huge when we're talking about the size of the Opportunity and people are going to come back and they're going to beat you up Marius and they're gonna say well The stock knows dived at the end of the market today. I've got to stay away. All right I need some validation people buy houses when the markets really really good and they buy stocks when the markets Really really good. You see the problem in that and I hope people are really reading between the lines in what we're trying to communicate With the opportunity nobody's gonna put a bow on this opportunity for you And nobody's gonna talk about it through YouTube the way that we're breaking it down for you So I hope you're getting some value out of this, but I wanted the 30 years on and get his take on this Yeah, and and look I mean the you know the marriage kind of hit it on the nail there when we need talked about the Shell and and and the the size of their opportunity and you know the caveat is We know that the R2 pilot which is by the end of the year is going to be up and running They need to go through the semi-commercial Pilot which is next year and then the commercial pilot or the commercial unit is 2025 That being said with now shell, you know behind them The time line could get closer now That being said two years is not a significant time You know, yes, it sounds like a significant time. Yes, you know to 2020 they put in their deck 2027, you know where they have a hundred million bucks and revenue But the reality is that that's kind of been rolled or came closer And how closer we don't know we you know, they would be kind of a speculative exercise But let's put that aside and take it even further. Okay Mariusz mentioned something yesterday and I really liked in that video He talks about the size of it, right the size of the opportunity and the size of the opportunity here is Every year we're producing 380 million tons of waste plastic 80% plus No one else has a solution for it. Okay. So, you know, I'm not gonna tell people that look guys We need you know, like as marriage said They can if they're processing a million in three four years Whatever the five years, you know, that's a three billion dollar four billion dollar company You know, you don't need a rocket science is to do the math. It's just like simple math now What I want to talk about is when you talk about 380 million times and some people have mentioned this to me before They're they're like, oh, you've got the pure cycles. You've got the mirror No, mirror once in a few years to be processing a million tons And why because they need central, you know units. So basically they have to have like a hundred thousand plus per tons in order for it to be slightly viable with the support of The KBRs and the dows and the like This is the The only one I know at least the only one where the partner is actually making profit For the vast majority of the other competitors call them or comparable Because they use some form of a thermal having having heat There they are forced to be basically a subsidy-based business So someone has to subsidize that and that's why only Developed countries will be their clients only countries like all only companies in the world I'm not I'm not kind of dissing that opportunity. It's massive But it's such a huge market 380 million 380 million guys like, you know all the combined companies based on what they're saying They can't even process five to seven percent of Of of the waste plastic that's out there on top of what's existing So, you know, what you're saying what you're saying another thing is that It's not like this is an opportunity where you have an existing player that services certain clients and You have another company that comes up with a better solution and is trying to come in and Convince everybody else. Hey, we have a better solution and trying to steal market share So we are in a position where Nobody Nobody can solve this problem 80 percent of plastic cannot be recycled. So that the field is wide open The government is Making mandates that they have to come up with solutions in 2025 The the players want to come up with solutions because not only will they make hopefully make money with it If they choose a duro, but also if you're a plastic producer and you can say to the world. Hey, look by our bar Snicker or buy our Coca-Cola and believe me Our stuff is truly hundred percent recycled. That's that's like a marketing marketing Promotion for them to be able to say that to the customers. So it's it. Yeah, that's all I just wanted to say That's incredible. I know Yazan wanted to talk about some other aspects because we we get caught up on this plastic skew Aduro has two other skews that Unfortunately have kind of taken a back burner But Yazan wants to shed a little bit of light on the HP you vertical as well So I'll bring him on to talk a little bit about that I'll talk about it, but let me just Please like wrap up the last conversation You know, it's one thing and I have learned that back in school economics 101 Okay, look as much as these companies want the marketing and I agree in the developed world They will do it for the marketing side But in the developing world, okay, where aduro has You know a country manager and they have a team in Mexico. They have a team in You know, let's call that they have a Netherlands team as well Do like let's take Mexico. Okay, no one will touch that place. You know why because right now there's no Subsidy for you know the waste plastic that's all over the map in Mexico City And and these guys really want a solution. They want so you have a solution that is profitable you'll have people that will Want to work with you and that's the the simple math of it. So outside of you know subsidized in fees This is something that's very important But but that's on the plastic side. So and I appreciate you talking about the HP. I I want to say Today equally as Pollutant or emission creating You know the heavy oil industry is Whether it's Canada, California, Latin America, you name the country. Okay, they all require some form well or a material that allows for this heavy oil to Basically move in a pipeline. It's called a deal you went and Again, not the chemist here, but I'm gonna say that you mix it with heavy oil In a mixer and allows you to kind of move or push that heavy oil to the other side now Believe it Because that was the first kind of strike for me is that they went is about 25 percent of the barrel coming from The oil sending Canada down to the U.S. And what happens is the following. This is insanity like you and I hear some crazy stuff this student actually is produced in Somewhere in New Mexico in the U.S. Moves up via train to Canada Imagine the emissions then in Canada we mix it and Canada is the largest exporter of oil to the U.S. Get mixed and then goes back in a pipeline and Because of you know, I'm not gonna go and say liberal non-liberal but because of our current government The issue is that you know, they don't issue they don't want to have another pipeline So what does that mean? It means that you know currently 25 percent of the capacity of Oil production of Canada, which is five plus million barrels a day that gets moves 25% of that is doing what that gets moved up and down Okay, and like imagine the amount of emissions that you have there now. Let's talk dollars That bill you went. Okay. It's there are 750,000 barrels of diluent that you need every day that goes to Canada So I have 50,000 roughly right now. I know it's a late pricing, but it's about $15 U.S. Perbell so the adures HVU vertical is It's based on the idea that you're they're able to and stir party validator. So it's not like me saying It's based on the idea that you can turn that heavy oil into a lighter one and And What that would mean is once they have this R2 up and running on the HPU side, you know I think of it this way as a as an oil producer. I'm gonna be able to take this heavy oil in Canada, I don't have to add as much diluent. Let's say that they can cut diluent use for half Let's not say it's it's all gone, but let's say half sure that's about seven dollars U.S. Of savings per barrel and it's freeze up 12 and a half percent of of your pipeline So there's like so, I know seven times 750. That's what five six million dollars dollars a day, you know So that's only Canada and again, like I mentioned the same problem is in Latin America the same problem is in And now with what's happening now between, you know countries We need the extra bells and you know, what's happened is Venezuela and Colombian and so on are you know, They're these countries are suddenly having lifts and their embargoes that were before What that means is now they have to find a way to move their Heavy oil up to the U.S. So these dynamics are all working in favor of a durand we don't talk about this vertical as much So by the end of this year again, they're gonna have a pilot for that and by Q1 You know, they're hoping that they can invite people like us to come and see it in live in motion As well as you know business development. So it's another vertical that is massive. It's a it's a multi-billion dollar vertical on song Yeah, so during my due diligence on adora clean technology I don't want to overstate the opportunity I've done away with that. I've done away with that many many years ago, but I'm doing stock market investing my entire life and I also don't want to underscore the fact that when I looked at adora I think it was the best opportunity that I've seen in two decades. So The viewing audience can take it for what they will that's just the truth of the matter and All three verticals actually got me excited the plastic one being the one that was kind of the most near and dear to my heart I used to work on the ocean. I've seen the landfills. I'm in environmental protection for my job So it just hit home with me and for a lot of investors out there They may not invest in an altria because they're against smoking I don't think there's an investor out there that can't look at a little bit bigger of a picture here and understand What adora is looking to solve on the big picture and get behind it? You don't have to buy the stock But you can absolutely pay attention to this story that is developing right now and it is developing very very quickly with these initiatives I do want to close it down a little bit, but I do want to at least allow you guys that chance for the last word I want to bring Mary you Sean here because His coverage on the company has been spot-on. It's been fantastic We all owe him a debt of gratitude for taking his time and paying forward this story We do it because we want to not because we have to This is an easy company to share because it is very very exciting and we could probably talk for three hours About everything that's going on and that we just touched on the game changer program I will try to link in the description all the articles that we have used But we have mentioned small tidbits of what you can also find Holistically on adora's website I will also place a link to that as well and I would encourage you guys if you Spend 10 or 15 minutes it will be well worth your time and understanding how excited we are About this initiative as well So I'm going to bring Mary you Sean for a closing word anything we've missed on the aduro clean technology story Marius, I always tell people look don't don't buy the stock Just I always tell them don't buy the stock. Just just look at it. Take it take the time to look at it See if it fits your Investment philosophy off but here's here's what I will say. I had an investment idea that kind of reminds me of this in 2017 and then 2020 I was screaming I was screaming Look at it. Look at it. Look at it. Look at it. People didn't want to look at it They looked at it after it went up 5x Okay, then they looked at it and and now so so it went from like 20 cents to three dollars They didn't buy it at 20 cents. They didn't buy it at 40 cents. They didn't buy it at 60 cents They bought it at $2 and then it went to three. They felt a little bit fantastic Now it's at the dollar now. They're screaming at me now They're screaming at me that I'm an idiot that I pump and dump stocks and I'm like look where were you when it was At 20 cents where were you when it was a 4 cents when I was talking about it So why don't you take out the mirror and look at yourself and see hey? I was the fault so it kind of reminds me a little bit because now I'm telling people don't be stupid Look at a duo not saying you should buy it. Look at it Don't be lazy and then decide but don't wait for it to double triple quadruple or 10x And then you're gonna buy it and then and then it has a pullback and you're gonna scream at me No, look at it now and then if it fits your investment criteria if the company delivers You will be happy but don't wait for it to 5x for you to look at it. So that's my message to everybody Fantastic. Thank you, Marius. I appreciate the time and keep up on the content. Please. I know we're going to be following this closely story Over the next 12 months stand by for roles because we are in for a roller coaster ride It's going to be fun to sit back and just be a student of this and really be a fan of aduro In conjunction with shell and and bringing this solution to to bear sooner than later I'm gonna turn it over to yuzan as well for the final word I appreciate it and first of all, I really appreciate you having me on Marius spot on I I'll never tell anyone to buy it or sell or do whatever you want to but What I'm gonna say is look, I've you know spent two years to get to the level of conviction that I'm at and You know, I can't tell you how you know how much I Think this this can be but I'm gonna say a look There are a few things I'm gonna wrap up with. Uh, first of all to get a 200 billion dollar company like shell to endorse a technology is Very very difficult. Okay. It's it's it's like a it's not even You know the the realm or the possibility of it is very Uh difficult to get them to endorse it and and go out and allow you to use your their name Is like one in a million. I know that because of all the other Companies and they're very very difficult to kind of allow you to use Uh, their name so especially because they know what the tap what happens now they know And the the third aspect is You know, they are not exclusive which is another thing that people May have some questions about they're not the exclusive partner. Imagine this They didn't hook them and say you're only gonna have to work with shell Okay, those are like things that I I don't know that happen often So Again, I think the valuation is this is a mispriced opportunity People, you know have not Understood I gave examples of other, you know, I think earlier companies that that are like in the 200 million plus I gave examples of other, you know, approaches that are in the billion plus You know at the end of the day, it's a 40 million us and It it's it's it's just misprice. It's undervalued by every metric that you look And all the others again, they're You know trying to address one component and they have not Been able to kind of crack the code. This one has so many verticals That I think what what, you know, if I was them at one point, I'm gonna say, you know what I've got, you know The rubber tires and I've got the uh, you know, the renewables and I've got this and so on You know what I'm gonna start licensing out license Some of these, you know to buy jurisdiction because at one point That's what's gonna happen and there's gonna be so much opportunity for this. So it's like a It's like an octopus that has so many legs and you know, so Really really excited about what will happen the next, you know, 12 24 months. I'm not in it for You know, as I said, I'm already two years in it. I I look forward to the Uh next, you know months and and so um And you know, the caveat is going to always be, you know, market Contingent, uh, you know, if the market, uh has a meltup. That's a complete different story. They need to continue exclusion 100 percent But as of as of right now At 40 million years dollars, this is Dan mispriced Fantastic. Uh, thank you so much Yuzan. I want to close it out with that But before I do on behalf of my audience, I want to thank Mary Yuzhka and Yuzan for making their time available to us Guys, this is the power of social media. Okay I know myself and Mary Yuzh and those few content creators that um are a little bit edgy We're trying to get your attention and we're trying to educate We're trying to give you an insight on what it takes To to make it. Okay. There's a separation between a company and a stock Never ever misconstrue those two things. I talk about this all the time on my channel But if you can get to an opportunity like this, at least from a monitoring perspective, put it on your radar because as of two weeks ago I had no idea that this opportunity existed And I dare to suggest that I was not the only one to think that all plastics that when it gets put in the recycling bin gets Out and recycled and processed to be introduced back into To to service it is absolutely the opposite. Um Yuzan talked about 80 percent of our plastics Going unrecyclable in our landfills and in our oceans. The time is right now in 2022 to take a look at this Take a second look Follow the channels follow Mary Yuzh's channel Watch the content that he's so graciously put on to youtube And we are going to be intimately following this story going forward. So on behalf of the channel. Thank you, Mary Yuzh Thank you Yuzan. We will be closely monitoring this story Thank you very much guys. Have a great one and good luck in your investment future