EzFill Holdings, Inc.

Welcome to today's conference call to review the first quarter ending March 31st, 2022 for Easy Fill Holdings, Inc. At this time, all participants are in a listen-only mode. A brief question and answer session will follow management's remarks. I will provide instructions at that time. As a reminder, this conference call is being recorded. I would now like to turn the conference call over to your host, Kathleen Heaney from KCSA Strategic Communications. Please go ahead.

Thank you, Hector. Good afternoon, everyone, and thank you for joining us today for EZFIL's first quarter 2022 financial results conference call. Presenting today is Mike McConnell, CEO, and Arthur Levine, CFO. After management's prepared remarks, we will open the call for questions. Before we begin, listeners are reminded that certain matters discussed during today's conference call or answers that may be provided given to the questions may constitute forward-looking statements from EZFIL's management team. 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. Words such as may, should, projects, expects, intends, plans, believes, anticipates, 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 are beyond the control of the company. including those set forth in the risk factors section of the company's annual report on Form 10-K filed with the SEC. Copies of these documents are available on the SEC's website as well as on the company's website. Actual results may differ materially from values 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 introduce Mike McConnell, CEO. Please go ahead, Mike.

Thank you, Kathleen, and good afternoon, everyone. Thank you for joining us today to review our first quarter 2022 results. We began the year well-positioned to advance our growth strategy to build upon our position as one of the fastest-growing on-demand mobile fuel providers. Our service offering is rapidly being adopted and recognized by many of South Florida's large fleet businesses. Additionally, we are beginning to see a key shift in the way the general public fuel their vehicles as they increasingly recognize the safety, efficiencies, and convenience of mobile fueling, which gives us confidence to expand into new target markets over time. Before Arthur reviews our financial results for the quarter, I'd like to highlight a few key developments that have elevated our position and opened the door for EasyFill to achieve increasing revenue as the year progresses. First, we have locked in several new commercial fleet fueling agreements with existing customers. Our ability to be further integrated and support our longstanding customers' businesses is a testament to the value of customers' place on our unique service platform. Companies that we have established partnerships with, such as ServPro, a cleanup restoration and construction franchise company, and ET Scripts, a retail pharmacy with home delivery service throughout Miami-Dade, Broward, and Palm Beach counties, rapidly enter new markets and have come to rely on our mobile fueling services to support their expansions. For example, we first started working with ServPro of North Miami in November of 2021. The success of this partnership opened the door for additional opportunities to serve the franchise. In March 2022, we expanded our relationship by entering into an agreement with ServPro of Brickell to serve another one of the company's fleets. With easy scripts, we began servicing their fleets in the Miami-Dade County and now support their fleets in Broward County. Other existing customers that are expanding into other markets which will allow us to increase the number of fleets we service for them include National Franchisor, 1-800-JUNK, and Alto, a leader in ride hailing and private transportation that operates an increasing number of small and medium-sized fleets. We've also signed on a number of new accounts that present similar strong growth opportunities. They operate with multiple locations throughout Florida. We are now planning our expansion across Florida, and these new accounts present opportunities for us to strategically enter these new markets. We began partnering with Cool Air USA in the Miami area, which specializes in air conditioning repair and installation and services customers across Florida, most notably in the Palm Beach County, where our near-term growth is focused on. We also signed new fleet fueling agreements this quarter with 9-11 Restoration of Miami, which is part of a nationwide franchise providing water and fire damage restoration and other services, and Chef Nissen Catering, an active participant in the Summer Break Spot program, which provides free meals to kids and teens across Florida. These business partnerships are not only complementary to our growth as we gain greater opportunities to fuel larger commercial fleets and enter new markets alongside our business customers, but are also supplementing the growth of these businesses by streamlining their operations as they expand. We're becoming an essential component of these companies' growth strategies as demonstrated by our ability to eliminate driver downtime and reduce operating costs for them. Once again, I want to emphasize that we believe we will continue to build on these relationships for long-term commercial partnerships to drive increased revenue for EasyFill and expand our geographic footprint into other key Florida markets. Additionally, we've signed a number of new commercial fleet customers in the first quarter that have expanded our reach to an number of new industries and have begun to have a positive impact on our revenue. We're excited about these opportunities as we're seeing increased demand for our services amongst a diverse group of businesses. For example, in the past quarter, we entered the healthcare sector, specifically the medical and research industry, to a signed agreement with Floridian Clinical Research in Miami Lakes to regularly service their fleet of delivery and transport vehicles. We also began serving educational facilities through an agreement with Monsignor Edward Pace High School in Miami Gardens to regularly service their school buses and other fueling for teachers and administrators during school hours. Our new fleet business drives our growth as it allows us to achieve higher utilization of our trucks and delivers a recurring revenue stream for our business. We are successfully scaling this business, bringing on new commercial fleet accounts at record pace. We are now serving over 40 fleets and are beginning to see the positive effect of this increased business that is not driving not only revenue, but higher overall fuel margins. We're excited to leverage these successful relationships and growing demand for mobile fueling to support our entry into other high-growth markets. Our on-demand consumer and specialty business combined currently contribute approximately 20% of our revenue. We're addressing the opportunity to serve consumers through our on-demand app, and additionally, an attractive method for growth in our consumer business segment has been and continues to be supplying fuel to employees of large corporations as an employee benefit. These types of organizations include office parks, schools, hospitals, and other permanent job locations. Another key growth avenue for building our consumer business segment is by servicing market-specific personnel and commercial vehicles, such as boat owners, either at their home or as they dock at busy marinas. In February, we announced exclusive agreement with Brickell Place Marina in Miami to regularly service the marinas more than 200 customers through the Easy-Fill app. On March 14th, we closed our first acquisition since our IPO. As we have previously discussed, we acquired the assets of the mobile fuel company Full Service Fueling, an affiliate of Palmdale Oil Company located in West Palm Beach. A key component of this acquisition was the operating and supply agreement with Palmdale, one of the largest wholesale fuel providers in Florida, whereby Palmdale will serve as one of the main fuel suppliers for Easy-Fill throughout Florida. Palmdale is also providing Easy-Fill with access to vehicle parking at locations throughout the state. While this acquisition was relatively small, we now have the resources and infrastructure in place to enter our previously stated target markets effectively and efficiently throughout Florida. Today, we have a fleet of almost 30 fueling trucks and enhanced logistical capabilities to drive our expansions. In the fourth quarter, we announced our commitment to purchase 33 new fuel trucks, more than tripling the size of our delivery fleet. These new trucks have been arriving on a rolling basis, and we expect to complete delivery of all 33 trucks before the end of the year. Each new truck has the capacity to carry 1,200 gallons of fuel, which collectively will add over 350,000 gallons of delivery capacity per week when all 33 trucks are operating at full capacity utilization. With these trucks, as well as the trucks we acquired from Palmville and other sources, our fleet is expected to be almost 50 trucks by year-end. Summaring up my presentation, during Q1, we secured 11 new fleet accounts and completed our first acquisition that will support our ability to scale and deliver fuel to Florida's largest cities. As I just mentioned, we are more than tripling the size of our fueling truck fleet to service our customers to meet demand. The demand for our services is there. In fact, we have seen an acceleration in new fleet customers in April and May, as well as larger fleet sizes with these customers as compared with earlier contracts. We now have the capability to serve a much more expansive network of commercial customers, as well as demonstrate the value of our on-demand fueling service to a more extensive consumer audience to where a substantial opportunity exists for our growth. I would like to turn the call over to Arthur Levine to review our financial results. Arthur, please go ahead.