ACET
#Yes, Matt, I'll field that question.
There ---+ we look at the WAC prices and we look at each molecule virtually every month and every quarter.
There ---+ the low-hanging fruit and the more impactful WAC changes have occurred a few months ago, and we reaped the benefits this quarter.
During this quarter, there were a few, but they were not ---+ they were just opportunistic and not ---+ likely not moving any dials.
Yes, and if I could add to that, Matt, as Doug said, this is going to be a part of the routine ongoing cadence that Rising performs.
And as we see continued AFP declines, we're going to have to closely manage our WAC to a net spread.
So in order to even keep a straight line across on that DSO, we're going to have to continue to modify those WACs and continue to manage it.
So it will be an ongoing cadence and an ongoing process.
Hi, Steve.
Yes, sure, Steve.
Thank you for the question.
Look, I think, as you know, our R&D is milestone-based, and we have a budget, and we've just lowered the ---+ we've put it at the lower end of the guidance based on what the spend is in the first quarter.
So if we need to flex up due to some additional opportunities, then we'll take a look at that.
Thank you, <UNK>.
Well, thanks, <UNK>, I appreciate the question.
I think it's really 2 parts.
One is, are there some short-term opportunities that we can look at that haven't been explored in the traditional model.
And I would say that there is some activity going on in that area, to try to think out of the box in terms of how we can deliver business at a higher gross profit.
But I think in the longer term, the way we probably need to look at it is, relative to the comments I made about the partners that we work closely with and enjoy that working relationship.
Our asset-light model is a primary driver for the lower gross profit as compared to some of our competitors, so what is it that we can do to increase our gross profit when it comes to having more control over our business.
And that really relates to looking at bringing on the capabilities inside the company, perhaps on the R&D front and/or perhaps even on the manufacturing front.
So these things will help us to ---+ if we can do those, and execute against those, it will help us improve our situation.
You probably have me a little tongue-tied on that one, <UNK>.
I can tell you that I haven't been candidly surprised by a lot.
I mean, I've had a lot of leadership experience historically.
I think people in general are trying to do the best job that they can.
I haven't seen any hinting of problems in that area.
I think my experience as a leader has kind of prepared me for really just about everything that I've experienced in the first 30 days.
Yes, sure.
You got me a little tongue-tied on that, <UNK>.
Hey, <UNK>.
Well, <UNK>, look, I appreciate the comment, and I want to thank you for your suggestion.
Thank you very much.
No, Lester, let me answer the first question first.
The EBITDA for the quarter was $15.8 million versus last year, $12.1 million.
And that ---+ and in terms of the outstanding shares, we do ---+ we have included the 5 million shares that were issued to the seller.
Well, they weren't technically issued yet, but we ---+ for accounting purposes, we do need to include them in our ---+ in the basic and the diluted share count.
That's been consistent from the transaction.
No.
Correct, the 35 million and change, yes, that should hold true in the future.
Well, Lester, thank you very much for your comments.
It's much appreciated.
And by the way, I'm Bill, not <UNK>.
My wife calls me <UNK> when she's angry at me from time to time, so I don't want you to be angry at me.
So I think you made some great comments, and look, one of the things I do plan to implement soon is taking a look at our strategic plan and then not necessarily ripping it up, but adding to it, to the ---+ in line with what your expectations might possibly be.
Because if you don't have a plan, you're not going to get where you want to go.
So I think many of the comments that you made are part of my whiteboard opportunity that's out there, and what you're asking for is exactly what we need to do, and that is put pen to paper, discuss the strategies that we plan to bring to the company in the intermediate and long term, and then implement.
So I take your comments under advisement and I appreciate them very much.
Well, I certainly hope so.
And thank you very much for your support of the company.
Thank you.
Thanks, Anita.
I appreciate it.
Nice job today by you.
And for everyone on the call, I wanted to thank you for joining us today.
It was certainly a pleasure participating in my first quarterly conference call, and I hope I was able to provide you with some clarity regarding what I can bring to the company and how I intend to manage our operations going forward.
I look forward to meeting all of you in 2018 and speaking with you again in February on our second quarter fiscal 2018 conference call.
And I hope everyone has a great day and a good weekend coming up.
See you later.
