AYRO, Inc.

A webcast replay of the call will be available approximately one hour after the end of the call through November 11th, 2022. I would now like to turn the call over to Scott Gordon of CoreIR, the company's investor relations firm. Please go ahead, sir.

Thank you, Danielle. Good morning, and thank you for participating in today's conference call. Joining me from ARO's leadership team are Tom Wittenflager, Chief Executive Officer, and Dave Hollingsworth. Interim Chief Financial Officer. During this call, management will be making forward-looking statements, including statements that address ARO's expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors described in ARO's most recently filed annual report on Fund 10-K and subsequent periodic reports filed with the SEC and ARO's press release that accompanies this call, particularly the cautionary statements in it. Today's conference call includes adjusted EBITDA, a non-GAAP financial measure that ARO believes can be useful in evaluating its performance. You should not consider this additional information in isolation or as a substitute for results prepared in accordance with GAAP. For a reconciliation of this non-GAAP financial measure to net loss, its most directly comparable GAAP financial measure, please see the reconciliation table located in ARO's earnings press release, which is available on its website at www.aro.com under the investor tab. The content of this call contains time-sensitive information that is accurate only as of today, August 11th, 2022. Acceptance required by law ARO disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. It is now my pleasure to turn the call over to CEO Tom Wittenschlager. Tom, please go ahead.

Thanks, Scott, and good morning to everyone on the call. I'm pleased to report on our continued progress maximizing our competitive positioning and value proposition within the low-speed electric vehicle market. From food or product delivery in an urban environment to uses in an arena or campus environment to uses in indoor environments where noxious fumes from diesel or gasoline-powered vehicles would prove unsafe, we believe the applications for a low-speed, all-electric utility vehicle are numerous across many industries in both the private and the public sector. We're currently generating sales of our first-generation, low-speed, purpose-built electric utility vehicle called the Current that's based on our legacy partnerships with Centro for component delivery from China and with Karma Automotive for manufacturing and assembly and with Clubcar for end product distribution. Our next-generation electric vehicle is planned to be on our Aero-Z platform, which we expect will feature numerous technological, and ergonomic upgrades representing a premium, all-electric, purpose-built utility vehicle. We expect the vehicles produced from the Aero-Z platform to be built right here in Round Rock, Texas, in our manufacturing facility here using components that are primarily sourced from North America and Europe and distributed both directly and through various third-party distributors. I'm happy to report that our supply chain for the ROC is now 92% defined, with 85% of that supply chain being sourced from North America. We expect the cost savings from reduced shipping alone to be significant for the new platform, and we also expect to be able to build a platform of fundamentally higher quality that should lead to substantially lower warranty, and substantially lower support costs. We plan to unveil the Aero-Z prototype and to open pre-orders for the new Aero-Z by year-end. Moreover, we also expect to be approved for sales on the federal government's General Services Administration, or GSA, schedule by year-end 2022. We believe the ability to sell a clean, green solution at the federal level under Buy American provisions With minimal purchasing friction, that also brings the sustainability elements that we expect the ROZ platform to inherently offer is a large selling point for many purchasers at the federal level. Now let's take a closer look at our second quarter financial results. We recognized $980,000 in revenue in the second quarter of 2022, an increase of 88% over the same period in the prior year. We experienced an increase in cost of goods sold expenses related to defective battery parts that our Chinese supplier Centro shipped to us for the lithium battery powered version of the current vehicle. Due to a 100% defect rate in some critical components for the lithium battery vehicles, as well as a 100% defect rate on the motor controllers that render the vehicles inoperable, we rejected from Centro for all of these components and requested a credit from Centro for the full purchase amount. This required a write-off to the cost of goods sold of 1.32 million due to these defective components, while any sales of the lithium version of the current during the quarter were entirely absent. We're in discussions with Centro regarding this particular issue. This increased cost of goods expense was primarily responsible for the sequential increase in our net loss that rose from 4.58 million in the first quarter of 2022 to a net loss of 5.97 million in the second quarter of 2022. Our focus on fiscal discipline and expense rationalization remains as resolute as ever, despite the speed bump in the second quarter arising from the critical component issue itself. This example highlights the sensibility of our decision to bring manufacturing in-house and to source components from reliable and proven suppliers located primarily in North America. While this charge is certainly unfortunate, in no way do we believe it changes our outlook for the new Arrow Z platform and our product design and manufacturing strategies. Importantly, and I cannot stress this enough, we firmly believe that a successful rollout of the new Aero-Z product cycle will help maximize shareholder value and is what investors should ultimately focus on. To this end, we have moved at remarkable speed to have accomplished so much in such a relatively short period of time with the Aero-Z platform. We expect to unveil our new vehicle prototype by year end and our manufacturing build out in Round Rock, Texas is on track with respect to both budget and timeline. With its numerous food box architectures, configuration solutions, and enabling technology features we intend to offer, such as telematics, logistics support, and route optimization, we believe the Advanced Aero-Z electric vehicles will be an excellent solution for food delivery in many urban environments and address general utility needs in campus and arena environments. Our balance sheet remains quite strong. It affords us the opportunity to progress with our strategic direction without an immediate need to raise capital. Our cash and marketable securities at the end of the second quarter were $57.9 million, and we have no debt. That concludes my opening remarks. Now I'd like to turn the call over to Dave Hollingsworth, who will review our financial results in more detail. Dave?