GreenPower Motor Company Inc.

Good day and welcome to Green Power first quarter 2024 earnings 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. Please note that this event is being recorded. I'd like to turn the conference over to Mr. Michael Schieffer, Chief Financial Officer. 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 results for the quarter ended June 30, 2023. I'm here today with our Chief Executive Officer, Fraser Atkinson, our President, Brendan Riley, Vice President, Klaus Tritt, and Vice President, Michael Perez. 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 are made We anticipate 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 EDGAR. and is also located on our website at www.greenpowermotor.com. I will now pass the call over to Green Power CEO, Fraser Atkinson.

Thanks, Michael. I want to start off with the events of a week ago when Proterra filed for Chapter 11 bankruptcy. The origin of Proterra was manufacturing all-electric heavy-duty 35- and 40-foot low-floor transit buses. Over the years, they expanded their business to become a Tier 1 OEM supplier for drivetrains and batteries to other EV OEMs. This included supplying Thomas-built school buses for their all-electric Type C Julie, which competes with our Type D Beast school bus. They also supply batteries for all-electric Type A school buses and for Class 4 vehicles, which compete with our Type A school bus, the Nano Beast. and various EV star models respectively. You might think that now would be a great opportunity for Green Power with our all electric low floor transit style buses to aggressively pursue this transit sector. But we believe it is difficult to make money in the transit space where the sales cycle is typically over three years. Green Power's strategy for the past number of years has been focused on accessible markets, with shorter sales cycles where we can achieve economies of scale and can make money on the products we sell. On today's call, we have the leaders of our commercial vehicle and school bus groups to provide you with insight on our strategy to accomplish that. Turning to Green Power, this was a record-setting quarter as we recorded revenues in the first quarter of $17.6 million more than four times the revenue of $3.9 million from the previous year's first quarter, and delivered 131 green power vehicles in the quarter, also our record. We also achieved significant operational improvements, which Michael will discuss next. I want to comment briefly on our liquidity, as we significantly improved our financial position in the quarter. The start of the quarter, we were on our line of credit, which is up to $8 million. We were on that line of credit for $6.6 million, and we were able to reduce that to $162,000 at the end of the quarter, whereas our cash position increased from $600,000 at the start of the quarter to $1.5 million of cash at the end of the quarter, providing us with $9.3 million of available liquidity at the end of the quarter to grow our business. I'll now hand it back to Michael for discussion on the financial highlights for the quarter.