GreenPower Motor Company Inc.

Thank you. Good day and welcome to the Green Power Motor Company's second quarter earnings call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would like now to turn the conference over to Michael Seifert, Chief Financial Officer. Please go ahead.

Thank you. This is Michael Seifert, the Chief Financial Officer of Green Power Motor Company. I would like to welcome everyone to our call to discuss Green Power's second quarter financial results for the period ended September 30th, 2020. I'm here today with our Chief Executive Officer, Fraser Atkinson, our President Brendan Riley, and our Vice President of Sales and Marketing, Ryan Chatterley. During today's call, we may make comments or statements about our future expectations, plans, and prospects. which may constitute forward-looking statements for the purposes of the Safe Harbour Provision under the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in our quarterly interim results and MD&A filed on CDAR and on ICAR. In addition, these forward-looking statements relate to the date on which they're made, We anticipate that subsequent events and developments may cause the company's views to change. Green Power disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Also, during the course of today's call, we may refer to certain non-IFRS financial measures. Reconciliation of these non-IFRS financial measures can be found in our MD&A filed on CDAR and on EDGAR, and it's also located on our website at www.greenpowerbus.com. I'll now pass the call over to GreenPower's CEO, Fraser Atkins.

Thank you, Michael. During the quarter, GreenPower achieved a significant milestone with the uplisting of the company's shares on the NASDAQ capital market under the symbol GP, and completion of of our U.S. initial public offering for gross proceeds of $37.2 million. We plan on using the majority of the proceeds from the offering for the production of our all-electric vehicles, including various models on our EV Star platform, East school bus, and our EV250 low-floor transit stop bus. Since listing on NASDAQ, and with our significantly improved financial position, Prospective customers that we had previously conducted demonstrations of our vehicles have reengaged with Green Power, one of the many benefits that we sought from listing on NASDAQ and completing our financing already coming to fruition. In the past, we produced vehicles for sales from specific customer orders. Now we can accelerate production, shorten timelines for deliveries, improve costs and terms from suppliers, to support larger purchase orders, which will be drivers for GreenPower to attain profitability. Our EVStar platform offers various models for passengers as well as cargo and delivery. GreenPower is pursuing relationships that can drive repeat orders in each of these categories, and since the listing, we have entered into production for more than 20 EVStars per month. We anticipate these vehicles will start to deliver in two quarters time, and this level of production represents potential revenue of over $8 million on a quarterly basis. We also see tremendous growth opportunities next year with our all-electric purpose-built school bus, The Beast, which Ryan Chatterley will be speaking about in more detail further on in this call. As these vehicles take longer to build, we've commenced an additional production plan for 100 BEAST school buses for current orders and the anticipated demand, which will be available for delivery in the middle of next year. Our initial production rate of five per month represents potential quarterly sales of over $5 million. Michael Seifert will speak to our financial results shortly. but I wanted to highlight that our cash expenditures for the quarter were $1.7 million. This includes our general and administrative, selling and marketing, product development costs, cash costs for interest, everything all included before sales or the gross profit derived from sales. We will continue to manage our operations in a fiscally responsible fashion, and we see with increased growth, a much more measured or lower increase in this particular line item. With funds in the bank and low cash operational expenses, we are well positioned for significant growth. I'll now pass the call to Michael Seifer, Green Power CFO.