usdz_converter not picking up materials

I am hoping someone can shed some light on why the usdz_converter is not picking up the materials specified. When running the following command

xcrun usdz_converter ~/Desktop/demo/demo.obj ~/Desktop/demo/demo.usdz -v -a -l -m /Materials/Material_001 -color_map blk.jpg

in the root of the directory where my demo.obj and blk.jpg files live, the USDZ file is generated but without the specified materials applied to it.

Peeking inside the generated USDA file I see the following empty material definitions.

def Scope "Materials"
    {
        def Material "Material_002"
        {
        }
        def Material "Material_001"
        {
        }
        def Material "Material_004"
        {
        }
        def Material "Material_003"
        {
        }
        def Material "Material_006"
        {
        }
    }

Below is what is printed in the terminal

usdz_converter
Version: 1.008

-v: Verbose output
-a: Generate .usda intermediate file
-l: Leave generated .usda file
-m:
  /Materials/Material_001
-color_map: blk.jpg


Primitives:
  Transform: /xrdslogo
  Transform: /xrdslogo/Geom
  GeomMesh: /xrdslogo/Geom/Cube_005
  bound material: /xrdslogo/Materials/Material_002
  GeomMesh: /xrdslogo/Geom/Cube_004
  bound material: /xrdslogo/Materials/Material_001
  GeomMesh: /xrdslogo/Geom/Cube_003
  bound material: /xrdslogo/Materials/Material_004
  GeomMesh: /xrdslogo/Geom/Cube_002
  bound material: /xrdslogo/Materials/Material_003
  GeomMesh: /xrdslogo/Geom/Cube_Cube_001
  bound material: /xrdslogo/Materials/Material_006
  GeomScope: /xrdslogo/Materials
  ShadeMaterial: /xrdslogo/Materials/Material_002
  ShadeMaterial: /xrdslogo/Materials/Material_001
  ShadeMaterial: /xrdslogo/Materials/Material_004
  ShadeMaterial: /xrdslogo/Materials/Material_003
  ShadeMaterial: /xrdslogo/Materials/Material_006