The following is a summary of the Crown ElectroKinetics Corp. (CRKN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Crown reported a net loss of $4.6 million for Q1 2024, which included $0.9 million of non-cash other expense.

• The company recorded $0.7 million of revenue in its fiber division for the quarter and booked $1.2 million of deferred revenue.

• Total operating expenses for the quarter were $4.7 million and cost of revenue was $1.6 million.

• As of March 31, 2024, cash and cash equivalents were $0.3 million, and the company has $42 million available on its ELOC.

Business Progress:

• Crown's film team solved the 12-inch mastering challenge for its Gen 1 Alpha Smart Window Insert.

• Crown appointed Sheldon Davis, formerly a consultant, as President of its ElectroKinetics film division.

• The company has secured fiber optic projects in Idaho, Nevada, California, and Mexico, which are expected to generate significant revenue.

• The fiber optic division is set to construct slant wells for a desalination plant in Mexico with an anticipated revenue of $3.5 million.

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