Ark Restaurants Corp.

Greetings and welcome to the Arc Restaurant's third quarter 2025 results conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. Should anyone require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Christopher Love, Secretary. Thank you. You may begin.

Thank you, Operator. Good morning, and thank you for joining us on our conference call for the third quarter ended June 28, 2025. My name is Christopher Love, and I am the Secretary of Arc Restaurants. With me on the call today is Michael Weinstein, our Chairman and CEO, and Anthony Sirica, our President and CFO. For those of you who have not yet obtained a copy of our press release, it was issued over the news wires yesterday and is available on our website. To review the full text of that press release, along with the associated financial tables, please go to our homepage at www.arcrestaurants.com. Before we begin, however, I'd like to read the Safe Harbor Statement. I need to remind everyone that part of our discussion this morning will include forward-looking statements and that these statements are not guaranteed as a future performance and, therefore, undue reliance should not be placed on them. We refer everyone to our filings with the Securities and Exchange Commission for a more detailed discussion of the risks, that may have a direct bearing on our operating results, performance, and financial condition. I'll now turn the call over to Anthony. Thank you.

Good morning, everyone. Before Michael gets into the results of operations, I wanted to highlight a few things on the balance sheet. Our cash is $12 million at quarter end. Our debt was $3.9 million. We did extend our credit agreement during the quarter through 6-1-2028. with $20 million of capacity. With that, the balloon notes on the three notes that we had outstanding were extended on the same payment terms that we were paying. So two of those will run off in about four or five more quarterly payments. And the third one, there'll be another balloon payment in June 2028. The other big item of note on the balance sheet, which you saw in the release, was we had an additional impairment of Sequoia's leasehold improvements in right-of-use assets in the amount of $4.7 million, as stated in the release, you know, as a result of the cash flow analysis. Other than that, the balance sheet, you know, has remained strong. So I'll hand it over to Michael.