Jim.
NEXE manufactures and sells plant-based single-serve coffee pods for use in single-serve coffee machines. NEXE's products are fully compostable while traditional coffee pods are recyclable (although many end up in the garbage). There is definitely a large market opportunity here, but we also think it could easily be replicated by larger producers down the line. The company is still not revenue producing, but has had some promising news where it has two purchase orders and recently signed a multi-year master service agreement to ramp up production. NEXE is still too early stage and small for us to endorse. While the idea is good, we can see larger players entering the market quickly as well, so we would want to give it more time to see if it can be profitable at scale production.