Heritage Global Inc.

Good afternoon, everyone. Before we begin, I'd like to remind everyone that this conference call contains forward-looking statements based on our current expectations and projections about future events and are subject to change based on various important factors. In light of these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as of the date of this call. For more details and factors that could affect these expectations, please see our filings with the Securities and Exchange Commission. Now I'd like to turn the call over to Heritage Global's Chief Executive Officer, Mr. Ross Duff. Please go ahead, Ross.

Thank you very much, John. Thank you all for joining today, and welcome. When you look at $1.5 million in net operating profit and $2 million in EBITDA cash flow on the surface like today, it's just a blah, blah, okay, So what quarter? And I get that for the quarter. But I really drill down and look at it across the board at each revenue stream at more than just a glance. Yeah, it is still just a blah, blah, okay quarter. And that's okay because we're not a buy the quarter company. As we continue to say, we're just not a quarter over quarter company where a snapshot in time tells where we're going. What happened is industrial was very, very busy but lacked any high-dollar auction. However, the pipeline is steadily growing, and larger transactions are right on the horizon. They take longer, but the senses, they are coming, and we feel lots of comfort in a baseline with absolutely the minimum in large transactions in one quarter and being able to stay profitable and accretive. Going forward, industrial M&A activity has really heated up to our front burner now. Activity all around us is heightened with transactions now closing and many possible prospects currently in play. We've now reached the make-an-offer stage on multiple fronts, and I'm comfortable something is going to get done in the very near future, at least within the next 12 months. And there are plenty of opportunities out there as the industry consolidates. Moving to the financial front, we're seeing more first-time clients now become sellers than really ever before. And we have a strong belief that consumer spending will remain at high levels for the foreseeable future and it will be multiple years to work through the ongoing release of every month's new monthly charge-offs as the falls continue in credit cards as well as fintech products. NLEX's leadership in the industry will help us scale with these new prospects, and we're very comfortable that there will be growth because we are the most reliable vendor in a growing market. With that, I'll turn it over to Brian to give you the highlights of this quarter. Thank you all for sticking with us. We're very, very comfortable that the next three years, there's going to be enough supply for us to really turn it up a notch. Thank you.

Go ahead, Brian. Thank you, Ross.