Cemtrex Inc.

Greetings, and welcome to the CEMTREC's fourth quarter and full fiscal year 2022 financial results conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. Before we begin the formal presentation, I would like to remind everyone that statements made on the call and webcast may include predictions, estimates, or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. Throughout today's discussion, we will attempt to present some important factors relating to our business that may affect our predictions. You should also review our most recent Form 10-K and Form 10-Q for a more complete discussion of these factors and other risks, particularly under the heading Risk Factors. A press release detailing these results was issued on December 28th and is available in the Investor Relations section of our company's website, Femtrex.com. Your host today... Sagar Govil, Chief Executive Officer, and Paul Wyckoff, Chief Financial Officer, will present results of operations for the fourth quarter and full fiscal year ended September 30, 2022. At this time, I will turn the call over to CENTREC's Chief Executive Officer, Sagar Govil.

Great.

Thank you, Operator, and good afternoon, everyone. I'm pleased to welcome you to today's fourth quarter and full fiscal year 2022 financial results conference call. The fourth quarter was highly transformative for Substract, divesting the non-core assets, smart desk, and VR subsidiaries to focus on accelerating our Vicon and AIS brands. We see escalating demand for these businesses and believe this shift in focus to capture significant near-term opportunities will help us to reach positive operating income by 2024 and maximize shareholder value over the next several years. This restructuring is expected to result in an operating expense reduction of over $5.2 million per year on a go-forward basis. We have also identified another million in corporate overhead from legal, accounting, and development expenses that were incurred in fiscal year 22 that will not be incurred in fiscal year 23. This will result in approximately $6.2 million in operating expense reduction to be realized going forward from November 2022. We believe our transformation will deliver a strong balance sheet and access to capital markets to execute our growth strategy. Our focus on Vicon comes at an opportune time, as it is rapidly building a dominant security technology brand focused on V-SAC solutions, leveraging AI and cloud technology solutions for commercial, industrial, and government applications. Vicon is seeing growing demand for its award-winning Roughneck cameras and Valerius video management software solutions. We believe Vicon can move towards $5 to $10 million in recurring revenue over the next couple of years as a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals, and cities across the world. The industry is rapidly shifting to SaaS solutions, leveraging AI and cloud technology solutions for today's highly dynamic environment. Allied market research is predicting the global vSaaS and video surveillance market will reach over $83 billion by 2030, with a CAGR of 10.9%. between 2021 and 2030. During the quarter, we were delighted to welcome Shane Compton, a COO at Vicon Industries. Shane is an accomplished leader in the physical security industry, bringing over 20 years of experience as a COO, CTO, and CPO at industry-leading companies like CoStar and Pelco. He is now leading the company's global sales, support, operations, and engineering teams. to deliver on operational excellence and deepen Vicon's commitment to world-class support and customer experience. Shifting gears on our advanced industrial services business, we are also incredibly optimistic as the company is well-positioned to monetize the increase in demand for predictive maintenance services, reshoring and manufacturing back to the U.S., and increasing complexity in industrial equipment. With over 35 years in the industry and high repeat business, AIS has a strong reputation as a single-source industrial contractor and premier provider of industrial contracting services. AIS is a significant source of cash flow and has a strong balance sheet, empowering the ability to offer more comprehensive services due to inventory of equipment. As the industrial and manufacturing economy in the U.S. continues to thrive, we believe AIS has significant potential for expansion, particularly with both on acquisitions. To mark this important transformation, we have also taken the opportunity to launch a next-generation investor relations website to better reflect our forward-thinking approach to the Semtrex brand and enhance communications with the investment community. We believe there is a compelling investment case to be made to both current and prospective shareholders, and the site will serve as an invaluable tool to keep our investors better informed of our progress and strategic vision. This site will be going live over the next few days, and we will make an announcement accordingly. I'll now turn the call over to Paul Wyckoff, our CFO, to discuss the financials. Paul?