EzFill Holdings, Inc.

Good afternoon and welcome to the EasyPhil Holdings Incorporated third quarter 2021 conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Ms. Kathleen Heaney. Please go ahead.

Thank you, Operator. Good afternoon, everyone, and thank you for joining us today for EZFIL's third quarter 2021 financial results conference call. Joining me today on the call is Michael McConnell, CEO, and Arthur Levine, CFO. After management's prepared remarks, we will open up the call for your questions. Before we begin, listeners are reminded that certain matters discussed in today's conference call or answers that may be given to questions asked, they constitute forward-looking statements from EZPIL's management made within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, including with respect to the company's recent IPO and the anticipated use of the net privacy as well as concerning future events. Words such as may, should, projects, expects, intends, plans, believes, anticipate, hopes, estimates, and variations of such words and similar expressions are intended to identify forward-looking statements. These statements are subject to numerous conditions, many of which may be beyond the control of the company, including those set forth in the risk factors section of the company's registration statement and final perspectives for the company's initial public offering filed with the SEC. Copies of these documents are available on the SEC's website, as well as the company's website. Actual results may differ materially from those expressed or implied by such forward-looking statements. The company undertakes no obligation to update these statements for revisions or changes after the date of this call, except as required by law. I would now like to turn the call over to Mike McConnell, CEO of Easyville. Please go ahead, Mike.

Thank you, Kathleen, and good evening, everyone. Thank you for joining us today to review our results for the third quarter ending September 30th, 2021, and to share the progress we've made since completing our IPO in September and listing on the NASDAQ. I'm excited to be here with you today on our inaugural earnings call to formally introduce you to EasyFill Holdings, share with you our history, our achievements to date, and our growth strategy. Afterwards, Arthur will discuss our financial results, and then we'll open up the line for questions. As this is our first call, I want to spend some time talking about the company, the market opportunity, and our plans to grow the business. Formed in March 2019, EasyFill was developed with the intention of capitalizing on the movement towards on-demand delivery of products and services to the home and place of employment. Very quickly, EasyFill has become the most innovative technology and service platform for the delivery of fuel to consumers, commercial, and fleet customers in South Florida. Through our unique B2B and B2C model, we have disrupted the gas fueling routine by providing consumers and businesses with the convenience of this integral service brought directly to their desired locations. We've leveraged today's most advanced digital technology and the GPS-based on-demand service platform that has transformed so many other industries to advance the fuel industry and alleviate the many issues of the legacy gas station model. In effect, we are leading the transformation of the fuel service industry, beginning at South Florida as the only mobile fueling company to combine on-demand fills and subscription services to fill vehicles on scheduled intervals for fleet, consumer, marine, and other customers. Given our initial success in this market, we are rapidly growing our fleet of fueling trucks to further penetrate strategic markets in Florida, as well as expand into additional markets across the United States. Switching gears, let me describe the market opportunity that exists for Easy-Fill. According to PwC research, it is estimated that the on-demand economy will soar to a whopping $335 billion by 2025. Today, approximately 22.4 million consumers in the U.S. spend $57.6 billion annually for on-demand products and services. We believe that mobile fuel delivery is primed to be the next hit service in the on-demand economy. While the headlines may scream electric vehicle, the fact remains that approximately 95% of motor vehicles sold in 2020 in the U.S. are gasoline powered and almost 300 million internal combustion engine vehicles are currently on the road. This means the replacement of gasoline engine vehicles with electric vehicles will be a slow evolution. According to the U.S. Energy Information Administration, Americans used about 123 billion gallons of motor gasoline, or an average of 338 million gallons per day in 2020. So yes, while there is a lot of exciting news about the growth of electric vehicles, there is a tremendous runway ahead of us. Coupled with gas stations dwindling in numbers, as the real estate they sit on is more viable for other uses, it is inevitable that mobile fuel delivery is the next big on-demand market. Our strategic entrance into the high-growth, on-demand industry was timely and has been well-received in Florida, as demand for products and services that are convenient, safe, and touch-free have never been greater due to the COVID pandemic, which elevated an already strong trend towards on-demand purchasing. The on-demand mobile fuel delivery market is primed for growth as more and more segments of the world turn to on-demand services. Our consumer business was impacted significantly in 2020 by the COVID-19 pandemic, but has largely returned in 2021 for residual fueling, residential fueling, but is still in the process of recovering to pre-pandemic levels at office parks as employees gradually return to the office. Now, let me turn to Easy-Fill's business model and talk about our strategy. Easy-Fill is headquartered in Miami and currently operates a fleet of 13 and growing mobile fueling trucks. Our key target markets include consumer, commercial, and specialty vehicle markets. We are successfully building our position in these markets by leveraging our proprietary back-end software to efficiently meet their fueling needs. As I mentioned at the start of my presentation, we have both a B2B and B2C strategy. As part of our B2B strategy, we partner with national and local businesses who operate fleets to offer an alternative solution for vehicle fueling in order to reduce operational costs, improve fleet efficiency, and reduce fraud. Through this strategy, we have scheduled customers which offer key growth opportunities for expansion into other markets throughout the United States. Our fleet customers pay only for the fuel they consume with no delivery fees tacked on. Our service resonates well with fleet customers looking to avoid the hidden costs related to filling up the tank, including driver downtime, additional wear and tear on vehicles being driven to and from the gas station, and potential fraud. Through Easy-Fill, commercial customers are relieved of their concerns because our fueling trucks come to their desired location to refuel their fleet. To support our B2C strategy, customers sign up for Easy-Fill services individually or as part of a discount of Easy-Fill services offered as an employee benefit for those working in office parks, hospitals, or other permanent job locations. Fuel deliveries are completed at optimal times during the day for at-work customers. in the evening for residential deliveries and at night for fleets. Our friendly user app allows customers to schedule fueling both on-demand as well as recurring fuel deliveries at prices comparable to their local gas station. Our residential customers currently pay a delivery fee of $4.99, or they have the option to pay $9.99 per month for unlimited deliveries. Finally, our specialty vertical drives our entry into market-specific personal and commercial vehicles such as boats, equipment rental companies, construction job sites, agricultural operations, and recreational ground vehicles. This is a valuable segment for our business as we are strategically located near many marinas in South Florida where customers are specifically seeking lower fuel pricing and greater convenience. We have strategically captured this market by offering pre-scheduled fueling at their location so that these customers can get affordable fuel whenever they need it. Our continued expansion in the specialty market is driven by targeting similar market-specific vehicles, such as those used for construction or agricultural purposes and personal or recreational vehicles. We have the ability to readily adapt to each specific specialty market based on the type of vehicle that can benefit from at-location fuel delivery. Currently, fleet customers comprise the largest percentage of our revenue at approximately 80%. We recently hired a marketing firm and plan to use a portion of the proceeds from the IPO to strengthen our marketing and brand awareness among consumers, while the focus of the salespeople recently hired will be to increase the number of fleet accounts. I'm going to wrap up my presentation with a discussion of our growth strategy. Our first mover status in Florida's high-growth, on-demand fueling market provides us with a unique competitive advantage to expand in Florida and then enter additional markets along the eastern coast of the U.S. We are leveraging established business partnerships along with our proven technology, scalable operation platform, and established brand recognition to readily enter these targeted markets and acquire competitive territories. While focusing on further developing our business relationships to build our base of fleet customers, we are driving more and more consumers to our app-based interface to transition them to the ease and convenience of on-demand fueling. Our near-term objective is to ensure that we are well positioned to meet the growing market demand for on-demand fueling in 2022. To that end, we recently purchased an additional 33 fuel trucks, which will triple the size of our delivery fleet and support our efforts to expand our service offering in cities across Florida, including Fort Lauderdale, Tampa, and Orlando, as well as select other U.S. cities. We expect to take delivery of these vehicles during the next six months, during which time we will also hire a significant number of new full-time drivers, and other experienced personnel. Since completing our oversubscribed IPO in September, we have seen a continued drive towards on-demand purchasing and believe we are well-positioned to lead the growth in the on-demand fueling market as we continue to expand our geographical footprint across the U.S. I'd like to turn the call over to Arthur Levine to review our financial results. Arthur, please go ahead.