$0.04 per pound source from most recent conference call:
Brian Kinstlinger
I was just hoping you would mention and it was helpful to know you had 1.2 million of sales for cotton orders of Pima Cot, could you tell us how much cotton orders that ordered that generated that amount of revenue?
Jim Hayward
Sure that was approximately 30 million pounds of cotton generated that revenue.
Brian Kinstlinger
And was that all from one large -- that one large retail or did [LDC] provide any revenue as well?
Jim Hayward
No that was a consolidated order from multiple brands from the retailers.
Brian Kinstlinger
And if we use that or actually let we start with, I realize you get paid in many different ways from Pima Cot, however, I am curious if we use that sort of ratio of 1.2 million to 30 pounds is that what we should think about long-term, is that a discount as you're offering initial sales kind of more cheaply so you can get adoption, how should we think about that?
Jim Hayward
The nature of our relationship is that we apply a slight discount as the volumes increase with particular customers. So that price could go down a small amount. We expect the volume to increase annually at least over the next foreseeable years I think two to three years and we also expect that that business will grow beyond United States as well.
Brian Kinstlinger
Now I assume that large retailer buy substantially more than 30 million pounds of cotton. So I guess how you think about the long-term potential of a large retailer like this take two to three years from now, could that be a $10 to $20 million customer by itself of is that way too much in terms of what they order?
Jim Hayward
I think it would be difficult for us to provide the kind of guidance that would go out two or three years based on particular retailer's needs. The first thing we have to do is demonstrate that the impact of purifying their supply chain has impacted their product and it seems this though that has already happened, that the product is cleaner, better, has a better hand and likely to last longer retain value longer as well. But that happens, we expect the orders to increase, but remember because we have a limiting -- the cheating that takes place in this industry, we’ve also eliminated the savings that some of the [cheaters] can offer to the supply chain. And so it will result I am sure in a slight price increase to get what you pay for and so I think we'll have to see how the market equilibrates
