GreenPower Motor Company Inc.

Hey, and welcome to the Green Power Motor Company third quarter earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal conference specialists 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 touchtone phone. And 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 Michael Seifert, Chief Financial Officer, please go ahead, sir.

Thank you. This is Michael Seifert, the Chief Financial Officer of Green Power Motor Company. I'd like to welcome everyone to our call to discuss Green Power's third quarter financial results for the period ended December 31st, 2020. I'm here today with our Chief Executive Officer, Fraser Atkinson, our President, Brendan Riley, and our VP 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 harbor 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 EDGAR. 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 measures can be found in our MD&A, filed on CDAR and on ICAR, is also located on our website at www.greenpowermotor.com. I'll now pass the call over to Green Power's CEO, Fraser Atkinson.

Thank you, Michael. Before we start, I'd like to extend a heartfelt thanks to our entire team at Green Power who have worked tirelessly over the last three quarters under incredibly difficult circumstances to reach the aggressive operational milestones we put forward. Their effort has been tremendous. Based on where we are now, we can see signs of recovery this spring, and we are incredibly well positioned as a company to take full advantage as the environment begins to normalize. In the fall, we increased production of our EV stars, including passenger and cabin chassis, and our all-electric purpose-built school bus, the Beast. At that time, we entered into production for 20 EV stars per month, representing potential revenue of over $8 million on a quarterly basis, and five school buses representing potential revenue of more than $5 million on a quarterly basis. In response to a growing pipeline and significant growth opportunity for all electric school buses, in January, we doubled our production of these school buses to 10 per month. This takes us to potential revenue of approximately $75 million per annum, with the next increase in production taking us to a potential revenue of $100 million. while we work in parallel with our supply chain to further accelerate our production from these levels. The first of these EV stars will be available this spring and the first of these Beast school buses this summer. With deliveries to customers and the recognition of revenue, you will see the results of these efforts in our financial statements over the coming quarters. During our second Fiscal quarter ended September 30, 2020. We complete our uplisting of the company shares on the NASDAQ capital market and IPO for gross proceeds of over $37 million. During the third fiscal quarter, the balance of convertible debentures were converted into shares of the company, as well as loans were repaid from proceeds from exercise warrants. This has cleaned up our balance sheet, further improving our shareholders' equity, and eliminated almost all of our interest costs. This time, I'll pass the call back to Michael Seifert, GreenPower's CFO. Thank you, Fraser.