 Welcome everybody back to the Independent Investor Channel. I got a special treat. This is a long history of us providing value to our audience here. The theme tonight is awareness. We're going to be having a discussion with Penny Queen. She runs the YouTube channel as well as a Discord group for a large constituent of patrons out there interested specifically in the microcap space. And I caught Penny about a month ago on an interview with a colleague of mine through YouTube as well. You see the theme here, we're connecting minds, we're connecting successful people with the power of YouTube. And I think it's fabulous that Penny's taken the time out of her evening to come and have this discussion with Aduro, which has been as of late introduced in May. I've got about 25 hours of due diligence on this project and I'm fascinated to share this with you. The theme tonight is awareness. We are both share owners in the company. So those disclaimers and disclosures up front for you guys. The theme here is not to hype the stock. If you want hype, go to Las Vegas or go to a theme park. That is not what we do here on this small corner of social media. Penny has broke the story and was one of the very early content creators for her efforts. I've actually added her to my featured channels here on the independent investor channel. So you can kick over to her information and her different conduits for access to her information and to her group. Penny, I'd like to take this opportunity. Welcome you to the channel. Take this moment and introduce yourself to my grander audience. Thank you so much for your time this evening, Penny. Absolutely. Thank you for having me on. I love the chance to talk to other investors about investing in the fundamentals of stock discovery and what goes into due diligence. I'm always happy to find somebody that, you know, that we share a baby. So, you know, a duro is one I've been following since August before last. So I've gotten to see a lot of its journey as it's progressed and it's certainly been great over the past couple of months, really picked up speed. It was an unknown to me. It was brought to my attention through an awareness is safe to suggest that I would have never found it. And I think that's the beauty of our audience is this company has been around and in the making for 10 years. Okay, so if you're being introduced to the company for the first time, sit back and enjoy because I'm not charging you for this information. Okay, a duro has reached out to me to provide this awareness content. Again, those disclaimers will be provided in the description below. And I am a share owner in the company and a bullish one at that. I'm looking to take a long position in the company. This is a company that based on the latest timelines that have been released through the corporate presentation from a duro is going to take a little bit of time. But there's been some recent catalyst here in the company. And Penny just did an interview about 10 months ago and we're able to kind of track the progress of the company up to this point. So, Penny, if you would just give kind of a brief introduction for our audience that may not know about the duro clean technologies and what solutions that they're bringing to bear in the marketplace, please. Well, a duro to me is truly three separate very distinct verticals that could each be their own multi-billion dollar company. But when it comes down to it, they have figured out, you know, I'll start with the plastics, but they have figured out a way to turn, you know, to essentially recycle plastics into new raw material. And they can do this with three different types of plastics. I don't know anyone else who can do the same thing. They can do bitumen upgrading. So taking that like heavy crude oil and turning it into a lighter crude, which has a much higher value, easier to flow. And then the renewable oils, which is essentially creating diesel. So it's a very broad category of capabilities, but it all comes out of some very distinct and interesting chemistry. It's called hydrochymolytics. So I know a lot of people aren't particularly interested in chemistry, but I'm a bit of a nerd. And when you look at all the different companies that are trying, you know, let's just focus on plastics. So many companies are in the market trying. And most of them use pyrolysis, which is essentially burning, which, you know, you burn things, there's a lot of waste. A duro so far has the absolute best answer. You know, you get a high margin of high margin of profit, but also a very high percentage of the product survives the process. So for me, that's truly unique IP. And that's what I'm looking for. I'm never looking for a company that has something that somebody else has. Penny, I interview CEOs all the time on the channel and I have 100% success rate of CEOs being bullish on their own company. So is there any type of validation that a duro has subjected their IP to to say, no, this isn't really just coming from internal. It's been validated along the way. And, you know, as an investor, I would sit back and say, sure, Penny, right? This is same old story. This is a pre-revenue company. So for people to understand and put some context around the story, we're talking about a 40 million U.S. market cap company. And it is unknown. Okay. Now, the hydrochemical technology that you refer to in-house IP, a duro owns all of it. Very important to understand that can unfold with your own due diligence. You can find that on the website. All right. But very, very, very safe to understand that for 10 years up to this point, this company strikes me as a very, very close to the best company. Okay. And in the little bit of information that I've been really hungry to find online, you can find all kinds of information about the problem that a duro is looking to solve. And that's the 320 million tons of plastic that's being produced every single year, which is expected to increase over time. And then we've got some government mandates in 2025, which makes the duro clean technology right on the forefront. I feel like me and you talking about it tonight, there's going to be people out there who are like, what? We don't recycle plastic, which was my impression before I got into this project. You speak on that a little bit? So recycling plastic is, you know, it really depends where you live. I live in the U.S., of course, a duro is a Canadian company. And I believe the majority of their shareholders are. Fortunately, it's traded on the OTC. But, you know, when you put your plastics in with the rest of your recycling, a couple of years ago, it was almost a guarantee. Unless you're in, you know, a few select jurisdictions that it was just going on a boat, going to China. I think they used to accept like 25 million tons a year of garbage. You know, great business if you've got land to stack it and, you know, it's not like we were sending it to China for recycling. We're sending it to China for their land filling. So a lot of a lot of the laws are changing. And the companies who we were, the countries we were essentially taken advantage of with with these deals are by and large saying, no, this isn't a good idea. So we're we're left with, you know, we now have producer responsibility, you know, being enacted into law. You've got that 20-25 limit. So, you know, what is recycling, right? There's a very few methods to we say plastic, like it's one thing. Yes. If you look at your recycling chart, you'll see that there's, you know, seven primary types of plastic. And, you know, if you get into the chemistry, they are long chain hydrocarbons. And the way that they're put together is all distinctly different. So the way they need to be taken apart is distinctly different. So, you know, Aduro can Aduro can handle polypropylene, polyethylene and polystyrene. Polystyrene. Polystyrene. Polystyrene. Thank you. Yeah. So foam. But the difference, you know, polypropylene, if you look at PureCycle. PureCycle seems to be the company that most people who are thinking about this know about because it's on the big board. It's got like a $1.1 billion valuation. Yep. One trick. Yes, ma'am. One trick. They can handle that polypropylene, right? Which is, you know, like fishing line. And it's, I mean, there's a lot of things that are made out of polypropylene, but it's polyethylene, the PET. That's plastic bottles. It's garbage bags. That's, as I was telling Abe's dike with Aduro just the other day, I'm like, that's the only one mom to really care about. This is the plastic that is just so ubiquitous. And we know that no matter what we try to do to recycle, it's not happening. It's a topic that is near and dear to my heart. And for the few content creators that are trying to provide awareness to the story. I've been investing my whole life. I looked at the Aduro opportunity, had finished my due diligence before the Game Changer program. I assessed a value just over their IP in between about 80 and 100 million. That was my own independent. That was a little bit on the low end, I thought. I thought when the Game Changer program was announced and for anybody that does not know, you need to get into the note. Okay. And again, I'm not looking to hype. I'm looking to get into Las Vegas or the theme parks. That's not what this is. This is serious business. And this is awareness on a company that not a lot of people have awareness on. You need to get there because for you guys that have been sleeping under a rock for the last couple of months, Shell Oil has just accepted Aduro into their Game Changer program, which I have a question mark now on the value of their IP and rightfully so. I had a much better idea before. Now, I would venture to guess in the 250 to 300 million dollar range just over their proprietary IP. Now there's some things that have to fall into place with that Game Changer program. But for me, I take a step back. Aduro is an easy company to invest in just because their initiatives are in the right place. Up till about two months ago, I'm 45 years old. I thought that when plastics were dropped in the recycle bin and they left my home that they went to a good cause. And that is absolutely upside down in what people should understand about what happens with their plastic. Right, Vinnie? That's that's exactly it. It's, you know, it's core to the concept of recycling. I think most people, you know, people 40 and below have grown up with recycling being a given. There's a garbage can, there's recycling can. How that works in every house is different. But, you know, we're trained to recycle. And the assumption is that it's actually happening. So it's very expensive for municipalities to handle waste. And in this, this is where the opportunity really presents itself. You know, I, I've mentioned, I mentioned pure cycle before, like I said, they've got an evaluation over a billion dollars. Don't actually own the IP, but they are farther, they're farther along and they do have big support. So my, in my ideal world, there's probably about 10 names in the, in the plastics recycling world. My ideal world, they all succeed. Competition is absolutely good for any business, but we need more and more techniques. But where a duro stands out is the low capex and the modular design. So you can do a 25 ton plant with a duro, a lot less capex. And it's, it doesn't have to be, you know, centralized. You don't have to build a 250,000, you know, ton plant and have all the, the, the recycling materials come to you. Manufacturers can create their own and, and the margins are good enough. I think it's about 50%. Yeah, just a little bit. I think it's like a six year payback. Last time I worked out the math with, with the guys at a duro and I'm sure things have been changing and moving since then. But, but still six year payback on a very critical thing made even more critical when the legislation is, is, is telling you it's a must to do. So I think it's an ideal time for, you know, for, for people be finding a duro. I agree. I think and to listen to, oh for five because he's the CEO and also part of the board of directors. It's interesting to hear him talk. It seems to me to be an absolute blue ocean. The 10, the 10 companies that you speak of Penny are still in the beginning stages of their technology. You know, first cycle that you mentioned, which was a SPAC off of Procter and Gamble, if I'm not mistaken, they're not making any money yet. So don't think for a second that these processes are established. And you mentioned it earlier on in the interview with these complex chemicals. Abedite does a fantastic job of kind of giving the analogy that a duro is different because they go into that complex molecule, right? And they deconstruct it. They don't blow it up. They deconstruct it in a smart way. And they do it in a way that does not require the hydrogen infusion and they do it in a way that does not require the heat process. And we're talking high heat and which speaks to the destructive process. So if you really start to internalize and separate how different the duro is, you mentioned the 25,000, you know, of feedstock that they could this so they can really accommodate those lower markets as well as those markets where the jurisdictions are tricky to get into. It's all open right now, Penny. All of it. There's no established anything. And I'm doing my very best. My bull case is set. Okay. Now I do what any good savvy investor does. I look at the other coin of it. And I forced myself to look at the bear case of this company. And I'm having a difficult time to find it because I'm finding a lot of voids and a lot of need in the industry for this. And it's making me a lot more aware in that everything we touch from day to day, everything that we consume, everything that is involved in our day to day life. We cannot proceed through our day without touching plastic in some form or fashion. And we're all single entities, you know, with what 8 billion people on the earth. You just think of the consumption there and the blue ocean need and the beginning of this stepping in. So when we're talking about a pretty large sandbox to play in when we speak about these few players and competition. I think you're right. I think there's room for everybody. And I think the sky is the limit. And I think these large companies are really under the press to try to quickly identify which of these solutions are going to work, which is going to benefit everybody in the space. Would you agree? Absolutely. And I take the incremental success of all the other companies out there as, you know, if they're ahead in one area, you know, it's a bit of path finding for a duro. Yeah. But when you, would you talk about the scale of the investment? So the reason I brought up PureCycle is I listened to, I should say I listened, I read a great article on it the other day. And at the end of the article, I thought, man, if I didn't know about a duro, I'd be pretty excited about PureCycle because it's great technology. But then when you start to look and say, wow, you know, that's fact deal, so much money went into that. And that is a huge clue on not just what a big problem it is. We all acknowledge that the plastic is a problem, but business doesn't care about problems. Business cares about money. So, hey, $1.1 billion of money risked on this concept. And so that tells me that when we're sitting at a $40 million market cap that we're in a very safe spot. I mean, I don't know what your portfolio looks like, but a duro is a gem right now being up 82% in the past six months. With all of the tides in the market, it's because people are starting to figure it out. Now, I mean, I tell you, that's why I'm typically in the small cap space is because I'm looking to find out before everybody knows and have time to do that due diligence so that when it's time, I've been able to do the bear work and look and see what the problems are. You know, for me, every list of problems I had set out, you know, when we talked about third party, right? It's not, this doesn't work because, you know, OferVicus says it works. They have a third party come in and examine the technology and better yet for shareholders, that was done as a milestone where, you know, that equity that's unlocked for the executives doesn't happen until they are making things happen for their shareholders. So, and then the Shell Game Changer program, you know, for Shell to have attached their game to a duro, letting a duro use their logo, letting a duro talk means that they did a lot of due diligence. Now, I'm just a firefighter. I am not a chemist. I guarantee that Shell did not send their firefighters in to do their due diligence. You know, they brought in their big chemical engineers to look at the process and decide and the whole point of it is to help these companies scale. And scale is a really scary term in the small cap world. So can you scale? Well, you can scale when you have partners. And they've kept the share, you know, they've kept the share structure so tight. It is that, you know, that that would be, you know, for me, the bear case is, well, at some point, they're going to have to raise money, right, which sweet. At some point, I'm going to have the ability to make a block by, you know, that's that's how I hear it because that them needing to raise money at some point in the future is only going to come because there's an expansion. So it'll prove that we're on the right right path. I love it when the bear bull and the bear points start crossing each other out so makes me a happy girl. Well said. For you guys that are unaware, the last press release on the acceptance of aduro to the shell game changer program was released. It is a one page document and it is well worth five minutes of your life to spend extrapolating read it slow, because what Penny's talking about it talks about the rigor that went into that application process. My understanding is that their aduro was not the only name in the hat. As a matter of fact, it was kind of the opposite where aduros technology proved itself out at some point in the process of rigor and evaluation of the company and was hand selected. I'm going to talk about not only the funding assistance to aduro, but also think about the expertise in house in shell. Shell is a who's who in big oil. It is a who's who it is in the top five. They are on the cutting edge of being that renewable player. This is what is going on now. This is the movement. This is the front of the wave where people even who are for or against the green initiative. Or they are for or against tree hugging doesn't matter. People are taking more awareness and saying what can I do to do my part in this whole thing. And it feels really good for aduro to be tackling this small aspect to it. But for those of you guys that don't understand how big this aduro and game changer program through shell is, I would highly encourage you to kick over to aduro clean tech dot com. Kick over to that press release that actually explains that and you'll be learned up on how exciting that is. And what it could mean for the corporate presentation that outlined a timeframe of scale that you talked about Penny up until 2027. I would suggest potentially that my bottom line assessment that that timeline has been shifted to the left now where I don't know and I don't care. But they were going to have to raise money to step through the pilot to R2 to R3 to make sure that there was a commercially viable product and they were going to have to find financing somewhere. Now shell is stepping in with that financial assistance and to expect that it's going to be until 2027. I think it's fairly short-sighted. I think we could potentially have our answers much sooner than that in that timeline and they have not updated that timeline on their corporate presentation. That's something I'm looking forward to as well because just knowing that everything we've been told was without this new champion. Now normally when I look at companies I want to know who their champions are as far as individual shareholders. But when you see Little Aduro, $40 million market cap and then this big multi-billion dollar company coming in and I see it as a lot of not just a lot of validation. But there are a lot of companies trying to make this work and Hydro-Chemalytics is a truly unique brand of chemistry. I think Abe said it once that it's more you know instead of destroying the molecules that it's more like taking a scalpel to them. I am so excited to watch the next year of growth and see where we end up. But I think it will be a lot farther in the process than they had initially anticipated. Hold on a second. For my viewing audience that just heard you out, the stock goes up 25% next week. You're not going to sell the company. That's surprising. I'm all invested. Oh, okay. So six months from now if the company is up 100% you're going to sell the company, right? This is the short-sighted application that we're really trying to and I'm not trying to be smart. The reason why I brought Penny in is first of all I like to surround myself with successful people. This is not my wheelie house. For people who have been enjoying my content for a long time, knows that I have a mass wealth based on value investing. The problem that I find that people fall victim to all the time is they succumb to one style and they will not hear any other investing disciplines. Investing in the stock market is one of those things that you will never have it all figured out. And for the people that really humble themselves and say, what is it that I need to learn? Not, oh my goodness, what do I know? And continue to try to regurgitate what it is that you know are probably better off to actually evolve as a stock market investor. And that's what we're really trying to do by just talking over the last 25 minutes about a name that I was unaware of four months ago. And I'm with you on the long-term perspective. I don't know where that timeline is going to shift to. The numbers out to 2027 and how they were going to seek out scale was incredible. Now we have a lot of answers with regard to the support that's going to be rendered to a duro in the close collaboration. And that's why we leave the management alone. That's why me and you are talking right now and trying to provide that awareness to the grander viewing audience through YouTube and social media to just take a look. If you don't like what you see, don't buy the stock. We're in an age right now where you can sit back and you can maybe discover a company that you wouldn't have discovered on your own. And I want to give you the last word here, Penny, on giving your bullish conviction and also make sure that you touch on anything that you think is super important that maybe we missed in this interview. Penny? Well, there's a lot of conviction right here. We know there's a real problem. Nobody's going to argue that. We know that they have a real solution. No one's arguing that. And the smart money has started to find a duro. That means a lot to the Penny investors. I'm known for picking penny stocks, but it's not because I want penny stocks. I want big stocks. I just want to get them early and I want that big run. But when I see that the shareholder mix is starting to change, less penny flippers and more people who are really looking at this as a long-term investment. When I initially called this out to my group a year and a half ago, it was as a long-term investment. I like making money. I trade options. That's where I get my excitement. But I want to watch a company grow and continue. And with the leadership that they have, they're all very serious, which is sometimes difficult for me because I'm not. But they're very serious and humble guys. But they're more focused on the problem than they are on the me-me-me part of it. So those are things outside of the basic fundamentals that make me like the stock. I also like the chart. But like I said, the chart doesn't truly matter to me when my investment horizon is, you know, I always say two to five on a long-term stock. I plan on holding Aduro for a very long time until maybe its name isn't even Aduro. Maybe it's three companies by then. Well said. Well said. We didn't even talk about their other two verticals. Folks, you're just going to have to tune into adurocleantech.com. Start to do your own due diligence. The whole point to this within a 30 minute is an acknowledgement that we cannot hit it all for you. But I do think that it's very prudent to mention when Penny mentioned the solution itself being a low heat. The hydrochemaletic is done at a low heat. Okay, so therefore it's a low cost, lower cost to input. And that's what is attractive on a large scale when you're looking at putting, you know, multiple tons through these potential processors is that they're not having to bring, you know, a unit up to 600 to 1000 degrees. That all takes energy input. Okay. So some of the solutions out there you have to be very, very careful in that they're a neutral solution in that the cost that's going in. Unfortunately is the cost that's going out for a net neutral type of solution. Yes, that might produce, you know, a type of product on the back end that can be utilized. But aduro is a lot different in that the input cost are significantly lower. And I think that was a key takeaway from this. Look, folks, for me, being a $40 million market cap, you're getting in on the ground floor. My entry was in between the 50 and 60 cent mark. I'm just as excited as you who probably got it significantly lower than me, because I think the upside potential is really limitless on this potential opportunity. You talk about the disparity between the current niche market in the specific niche microsector and the disparity between aduro as it sits at 40. And some of the companies that we've mentioned over a billion dollar market cap really speaks on the gap that needs to be closed between that. And it's just a matter of time. I think your point about the stock moving north at the clip that it has in the face of what has been an absolutely horrendous market. No stocks are getting favor stocks are being discredited right now. There is no credit for future potential of revenue, zero credit. Whereas in a normalized market, there's a little bit more of an anticipation and a little bit more animal spirits. I really do like that analogy, but right now it sell everything and talk to me later. Nothing is getting any type of favor. And I think it's important to note that in the face of that pretty poor markets over the last 18 months of chronicle that aduro has really stood the test of time over that current. Any other last words you have Penny by chance before we shut her down and turn it over to the evening. No, sadly, I could talk about aduro for a couple hours. I know, I'm going to leave you guys with this. I'll leave the chemistry out of it for the day. I'm really excited to have other eyes on aduro. I think it said, you know, it's an astonishingly, astonishingly good investment, you know, full disclosure. I'm invested. So there's a little bit of bias there, but it's not without the hard work put in to figure out what I was buying. Yeah, fantastic. On behalf of the Independent Investor Channel, this is Penny Queen's debut and I don't want it to be the last. It's been a real pleasure to meet you and listen to your philosophies about stock market investing. I think selfishly it actually makes me a better investor. And I thank you for sharing your insights. I know our audience will benefit from it as well. Thank you so much, Penny. Thank you, Ryan. Good beer.