 Today, I have the pleasure of speaking with Frederick DeGray from H2O Innovation. How are you? I'm excellent. You're self-tracy. Well, of course you're excellent. I was reading your 2015 year ends, and you're up 40 percent, nearly 50 million in revenue last year. Is that correct? That's correct. It's pretty sustained growth over the year, both exclusively organically, coming from our project business, 60 percent growth in our project business only, and then 18 percent from the specialty products and service group as well. Now you just had more good news this last week, a deal with ClearLogix. That's correct. We just acquired a new technology, a new company based in the U.S. around Denver. Actually, it complements very nicely our project business, so it's a technology that will differentiate the project business. It's a controller that allows us to measure the proper level of coagulant chemicals we need to add into a water solution to avoid premature falling of our membrane. So it both complements the business, the project business, as well as expand or chemical offering. Now I believe I read in the ClearLogix news release that you managed to do this with debt financing from a bank, and you haven't diluted the shares. This is something that we're pretty proud of. I mean, after 15 years building this company and now being able to acquired and bolt on new acquisition without diluting the shoulders. So this is an accomplishment because it will be extremely accurate. Obviously, we're adding about 1 to 1.5 million in revenues, and it's a profitable business as well, and with no dilution impact, as you said, financed through a senior debt. Well, the part I heard is that this will increase revenue. Is that correct? That's correct. And recurrent revenues as well. So that's what we like. Well, we all like recurrent revenues, so can you talk a little bit more about how this is going to work? Well, once the company integrated, I mean, they buy the controller, they buy the control panel, and then, you know, they're going to buy the specialty chemicals as well that will remain during the operation. So there's a portion that is a one-off, the project side of it, but then the specialty chemical is a recurrent revenue, so it complements nicely the business. Well, Dr. Duchain and Investor Intel called your technology a revolutionary groundbreaking, this membrane filter system. Can you give our audience a bit of an overview? Well, the membrane systems, membrane technologies have been around now for more sustainably for about 15 years now. Essentially, what's different and what's new in HTO is the way we're integrating these membranes into an open source platform. So our true differentiator in that business sector, in the technology of membranes, is that we're designing platform allowing to integrate all these different kinds of modules so that we compete with the preparatory technologies in providing open access to our customer, allowing them to change the membranes after the five years or seven years of operations and go to the market and select these best membranes available. Well, I'm going to put you a little bit on the spot here because you have had so much news just in the last quarter. And I know one that stood out for me was securing a deal with the fourth largest purification plant in the world in California. There's a couple of plants we secured in California lately in Cosbad area and Sweetwater authorities in southern San Diego. So all this area obviously is highly impacted by the drought. So yes, it was a couple of interesting projects we secured for both drinking water application and water reuse application as well. So what do you think is your biggest piece of news in say the last quarter? Well, growing the backlog itself is always something nice to see. I mean, we're replenishing the backlog. We still feel sustained growth, particularly coming from the U.S., yes, driven by some ground factor, some drought factor, but also the infrastructure market itself is growing pretty nicely in the U.S. So a combination of these two catalysts plus our new technology we release for the fiber flakes and this open platform I was just talking about or two main reasons that make me believe that I think we have good growth ahead of us. For all of us shareholders out there, can you tell us what we should anticipate? Normally ask for two quarters, but you're moving so fast. What should we expect this quarter? Yes, so today what we're trying to do is to continue to build an organization. We can rely on two pillars as we speak today. The first one being the project business that represents 60 percent of our revenues. The second one we build through the years, specialty production services representing 40 percent of our revenues, bringing the recurrent side of revenue of the business. What we're trying to do now is to add a third pillar, being the operating and maintenance. So be able to provide the system, be able to provide the specialty consumables, chemicals, as well as providing solutions to operate these systems on the long term. And that might be on the look for us in terms of additional growth, both organically but also through acquisition. We keep talking about growth here. I noticed you have a very talented new CFO, a new COO, very impressive backgrounds. How are you handling your growth, Frederick? This is a real challenge for CEOs. It is a challenge. I have to say that these two guys have been with the organization now for a long time with us. Both Mark and Guillaume were handling key position before as well in the organization. I think it's a natural step for us to see them growth into these roles of CFO and COO. The organization has gained maturity right now. We want to be clear for our own organization so that the role are not confusing but also for the external to make sure that people understand how we're building the organization. Not as much as what we are today, but where we want to be for the future. And yes, indeed, it is challenging to deal with such growth. I mean, we added this year about 35 people in the organization. We're a total of 175 employees across the United States and Canada. So it is challenging, but I prefer to have these kind of challenges. Well Frederick, as always, it's a pleasure to get an update on H2O Innovation. Well, thank you very much.