>> EVERYONE WELCOME BACK
TO CHEDDAR MOVERS CAN MEET USES
ARTIFICIAL INTELLIGENCE
TECHNOLOGY TO
REPLICATE KEYS WITH ITS COMPACT
KIOSKS AROUND THE COUNTRY, IT'S
JUST UNLOCKED $35 MILLION IN
FRESH FUNDING FOR MORE ON THIS
WE'RE JOINED BY GREG MARSH
FOUNDER
AND CEO OF HIM A CRAIG WELCOME
BACK TO SHOW THANK YOU CAN SEE
WELL GOOD TO SEE YOU OK.
HOW WILL THIS FRESH CAPITAL BE
DEPLOYED FOR
THE COMPANY.
>> YES, SO WE'RE GOING TO 3 X
OUR INSTALL BASE ARE CURRENTLY
AROUND 3,000 LOCATIONS ARE 49
STATES FOR RETAILERS LIKE IKEA
MENARDS THE DEATH OF DEON WE'RE
GOING TAKE THAT TO 10 THOUSANDS
OR REALLY SAID TO PARTNER WITH
THEM WITH TEAM TO SUBSTANTIALLY
INCREASE OUR FOOTPRINT
AND OUR THE GOAL IS REALLY TO
BUILD THE FIRST EVER BRAND IN
THE $12 BILLION LOSS IN
HISTORY.
>> RIGHT AND YOU KNOW LAST TIME
WE HAD TALKED ABOUT WHITE SORT
OF.
SINCE GROWING THIS OUT AND
LISTENING TO NEW INVESTORS KIND
OF ASKING FOR ANY
NEW THINGS.
>> OUR CORE PRODUCTS IS WORKING
VERY
WELL WHAT.
>> WE ARE SEEING IS INTEREST
FROM BOTH CONSUMERS AND
RETAILERS FOR NEW FEATURES ON
THE KEY ASKING THEN. DEMAND FOR
OTHER THINGS THAT WE CAN DO TO
HELP PEOPLE BASICALLY GET THE
PHYSICAL SPACES. WHAT ARE SOME
OF THE FEATURES THAT THEY'RE
ASKING FOR IS THAT WE STARTED
THE COMPANY MAKING BRASS KEYS
AND THAT STORM AND A CORE PART
OF THE BUSINESS.
BUT WE'RE GETTING MUCH MORE
SOPHISTICATED IN THE TYPES OF
KEYS. WE CAN MAKE SO WE'VE
INTRODUCED ARE FIGHTING TEASE
LIKE AN ARE FIGHTING TO CARVE A
KEY FOBS THE ONLY COPY GOES
NEARLY CONVENIENCE CARE WAY WE
CAN NOW DO THE VAST MAJORITY OF
VEHICLE TRANSPONDER KEYS AND SO
YOU'VE GOT LIKE A NEW
YOU KNOW MERCEDES COST 3 $400
TO MAKE THAT KEEP THE
DEALERSHIP YEAH WE CAN DO THAT
FOR YOU AT A FRACTION THE COST
SO LIKE EXPANDING THE SCOPE OF
WHAT THE BUSINESS CAN PROVIDE
TO CONSUMERS AND RETAILERS.
OK AND SO I ALSO THINK ABOUT
THE PEOPLE THAT GET LOCKED OUT
BUT PERHAPS ABLE TO GET TO A
KIOSK HOW DO YOU THINK
ABOUT THAT FUTURE OF OFFERING
THIS THROUGH A DELIVERY TYPE OF
SERVICE IF YOU WILL THE SAME
WAY
THAT SOMEBODY
COULD SUMMON SOMEBODY DELIVER
CHEESEBURGERS AND THEM COULD
THEY SUMMON A KEY.
>> FROM WHEREVER THEY ARE AND
HOW FAR ARE WE AWAY
FROM THAT.
>> SO WE AT THE KIOSK ALLOW YOU
TO STORE YOUR KEY TO JOLEEN IF
YOU GET LOCKED OUT YOU CAN GO
TO THE CHAOS CAN MAKE A SPARE
COFFEE AND MORE SELLING.
HUNDREDS OF THOUSANDS OF
WALKOUTS AND THAT AND THAT WAY
BUT FOR SOME THEY HAVE ANSWERED
THE KEY PREVIOUSLY OR THE NIGHT
NEAR CHAOS.
WE STILL WON'T BE ABLE TO HELP
THOSE TYPES OF CUSTOMERS AND SO
WHAT WE'VE DONE IS
WE ACTUALLY ARE BUILDING OUT
REALLY A NETWORK OF HIGH
QUALITY SEARCHED FIGHTERS WHERE
WE
CAN GET A VERY GOOD LOCKSMITH
TO YOU WHO IS HIGHLY VETTED WHO
IS GOING
TO PROVIDE GUARANTEED SERVICE
QUALITY FOR THE FIRST TIME THE
SPACE WE CREATE TRANSPARENT
PRICING SO
THE COMPANY. IS STILL LIKE
EXPANDING THE CHAOS BASEBALL
THAT'S LONG TO DO IS REALLY GET
IN SOME
OF THESE SERVICES ARE ACTUALLY
LIKE REAL WORLD LOCKS THE
SERVICE AND WHAT'S THE TAKE
RATE ON SOMETHING LIKE THAT FOR
YOU GUYS VERSUS HAVING SOMEBODY
THE CHAOS. IT'S BECOME AN
INCREASING PART OF THE SO THE
SALES FROM
THE KIOSK OUR MAJORITY BUT WE
HAVE CLOSE TO A 100,000
CUSTOMERS PER MONTH,
WE'RE COMING TO KEY ME FOR SOME
SORT OF LOCKSMITH SERVICE.
A MAJORITY OF THOSE ABOUT 75%
OR IN SOME URGENT LOCKOUT
SITUATION A LOT OUT OF THE CAR.
THE HOUSE AND IN THE ABSENCE OF
YOU KNOW KENYAN PROVIDING A
SERVICE TO MASSIVELY FRAUDULENT
SPACE LOT OF PEOPLE ARE GETTING
PRICE GOUGING SO IT'S A HUGE
OPPORTUNITY TO GET A REALLY
HIGH QUALITY LOCKSMITH THESE
PEOPLE IN A WAY THAT'S MUCH
CONVENIENT AND WHERE THERE'S
ACCOUNTABILITY THAT HAS EXISTED
BEFORE.
>> AND THEN YOU'VE GOT YOU KNOW
OTHER RIVALS MINUTE
KEY MIGHT.
>> THE MACHINE HOW DO YOU
DIFFERENTIATE YOURSELF, YES, SO
WE.
>> WE'RE VERY FOCUSED ON
OURSELVES IF
WE DO. WHAT WE THINK IS GOING
TO HELP CUSTOMERS AND THE REST
FALLS INTO PLACE. I'VE BEEN
VERY
FORTUNATE TO I THINK THE THE
LEADER IN THIS SPACE.
SO WE. THIS PLACE OUR
COMPETITORS OUT OF A VARIETY OF
RETAILERS ARE
IT IS A SHUN HAS NEVER LOST IN
A COMPETITIVE SITUATION EVERY
SINGLE HAVE HAD NEVER HAD BEEN
100% SUCCESSFUL. SO THE WAY WE
APPROACH
♪
THAT IS LET'S GO TO A RETAILER
AND ESPECIALLY IF THEY HAVE.
A DIFFERENT TECHNOLOGY
PROVIDER, LET'S JUST MAKE IT AS
EASY AS POSSIBLE FOR US TO
PROVE THAT WE CAN AND EVERY
TIME WE'VE DONE THAT WE'VE BEEN
SUCCESSFUL. ONE OF THE MAJORITY
OF THE PARTS THAT
YOU USE.
>> EITHER FOR KEY FOBS EITHER
FOR SOME OF THE TRADITIONAL
KEYS WHERE DOES THAT MATERIAL
COME FROM.
>> IT DEPENDS ON THE EXACT KEY
HALF A DOZEN LARGEST COMPANIES
WHO MAKE BRASS KEYS IN THE
MAKE.
BILLIONS OF AND SO YOU KNOW WE
CAN FIRE RESCUE SOME SOME ARSON
FIRES LIKE
FOR VEHICLE KEY TRANSPONDERS
OTHER COMPANIES FOR MORE
SPECIALIZED PROVIDE THAT OUR
FRIDAY'S YET OTHERS SO IT
DEPENDS ON THE EXACT TIME.
THIS IS A MARKET WHERE THERE'S
A LOT OF SOPHISTICATION ON THE
MANUFACTURING SIDE. YEAH, BUT
WHERE WE SEE THE OPPORTUNITY IS
AND TAKING THOSE PRODUCTS
WHICH EXISTS AND GETTING THEM
TO CONSUMERS IS REALLY
CONVENIENT AND IN DOING THAT IN
A WAY THAT
REALLY DRIVES TRAFFIC INTO OUR
RETAILERS WE CAN CREATE THIS
REALLY COMPELLING GUY PROP TO
THESE RETAILERS IN ADDITION,
THE
CUSTOMER EXPERIENCE.
>> AND SO I ASK THAT BECAUSE I
JUST WONDER ON THE MATERIALS
FRONT BECAUSE OF
THE TRADE WARS THAT RATES BACKS
THAT WE'VE SEEN WHETHER IT'S US
MCA THERE'S U S CHINA
AND ONE WAY OR ANOTHER
MATERIALS HAS ALSO BEEN CAUGHT
UP WITH HIM THAN THAT AND SO
HAVE YOU SEEN ANY HIGHER PRICES
FOR THE
BASE, HE'S THAT YOU'RE BUYING
FROM THESE AS A RESULT OF LAST
ON THE.
>> COST OF THE KEYS WHERE IT
ACTUALLY IMPACTS OF BUSINESSES
WE MANUFACTURE CHAOS IN THE
UNITED STATES. AND THERE'S A
VERY COMPLEX SUPPLY CHAIN THAT
GOES INTO THIS COMPLEX PROVIDE
UC
SYSTEM RIGHT AND ON THE SUPPLY
CHAIN CERTAINLY WE HAVE FELT
THE IMPACT OF TERRORISTS FROM A
VARIETY OF PLACES. NO USE FOR
MASS APPEAL. WE
HAVE SOME COMPONENTS THAT COME
FROM ASIA THAT THEN GET THE
SYMBOL, THE MAIN FACTION IN THE
US, SO IT'S A IT'S
BEEN A YOU KNOW CERTAINLY A BIG
CHALLENGE FOR THE
CONTRACT MANUFACTURER. WE WORK
WITH AS WELL AS OUR SUPPLY
CHAIN TEAM TO NAVIGATE THESE
THEY'RE SPENDING A LOT OF TIME
TRYING TO DO COST AVOIDANCE OF
ACTUALLY LIKE DOING A BUNCH OF
WORK.
JUST TO CIRCUMVENT SOME OF
THESE TARIFFS BECAUSE THEY
TOUCH ACTUALLY INCREASE THE
COST THE
RIGHT THAT'S ONE OF THE MOST