Heidmar Maritime Holdings Corp.

Thank you for standing by, ladies and gentlemen, and welcome to the HIDEMAR conference call on the third quarter 2025 financial results. We have with us Mr. Pankaj Kanya, Chief Executive Officer, and Mrs. Nikki Pertuyo, Chief Financial Officer of the company. Currently, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session, at which time, if you wish to ask a question, please press star 1 on your telephone keypad and wait for your name to be announced. I must advise you that this conference is being recorded today. Please be reminded that the company announced their results with a press release that has been publicly distributed. Before passing the floor to Mr. Kanye, I would like to remind everyone that in today's call, Hydemar will be making forward-looking statements. These statements are within the meaning of the federal security laws. Matters discussed may be forward-looking statements which are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. I would now like to pass the floor back to Mr. Kanye. Please go ahead, sir.

Good day to everyone and welcome to the third quarter earnings call for Heidmar Maritime. Nikki Fortier will walk through the results for Q3 and the first nine months of the year. I now hand over to Nikki. Go ahead, Nikki. Thank you.

Thank you, Pankaj. I will now present the three-month and nine-month results for Heidemar for the period ended September 30, 2025. For the three-month period ended September 30, 2025, Heidemar realized a consolidated net profit from continuing operations of $1.2 million, which is in line with that for the corresponding period ended September 30, 2024. The net profit from continuing operations includes the amortization of the shares awarded to the employees and the members of the board under the Equity Incentive Plan of $0.7 million. The shares are amortized over a two- or four-year period and are included in the GNA. After adjusting for the amortization of the shares, Hydemont realized adjusted net income of $1.8 million in the quarter. Total revenues were $15.6 million compared to the $7.2 million for the corresponding period in 2024. The increase of $8.4 million was driven by growth in the managed fleet and the increased number of vessels that commenced short-term voyage and timed charter contracts during the quarter, including the PSV, which commenced operations in April 2025. The impact on the revenue of these vessels will continue in the fourth quarter. As of now, the market forecast for the tanker freight rates during the winter market in Q4 and Q1 looks pretty strong, and Pankaj will talk more about it. Our GNA expenses were $3.1 million for the three months ended September 2025, compared to $2.7 million for the three months ended September 30, 2024. The increase of $0.4 million was mainly attributable to the amortization of the stock-based compensation under the equity incentives plan. During the third quarter, a strategic decision was made to sell our loss-making subsidiary, Hydemore Trading DMCC, to the management of the unit, which resulted in a net gain of $61,000. For the nine-month period ended September 30, 2025, the company realized a consolidated net loss from continuing operations of $4.8 million as compared to net income of $3 million for the corresponding period, September 30, 2024. Continuing operations exclude the impact of the flagpole business, Americana Liberty, that was sold in Q2. During this period, the operations generated $3.4 million of net income, which excludes $4.3 million in non-cash stock-based compensation and $3.9 million in the unrealized expense relating to the fair value of the earn-out shares. The net loss of $18.6 million for the nine-month period ended September 30, 2025, includes $13.8 million net loss from discontinued operations, which comprises, one, the goodwill impaired on disposal of Americana Liberty, a non-cash item of $11.2 million, the realized loss on the sale of the subsidiary of $1.7 million, and the operating loss incurred by Americana during the period of $0.9 million. Total revenues were $50.8 million compared to $23.6 million for the corresponding period in 2024. The increase of $7.2 million is driven by the growth in the managed fleet, improvement in freight rates, increased number of vessels that commence short-term and time-shelter contracts during the quarter, and the PSVA supplier, which commenced operations in April 2025. Our G&A expenses were $13.5 million for the nine months ended September 30, 2025, compared to $9.6 million for the nine months ended September 30, 2024. The increase of $3.9 million is mainly attributable to the costs incurred when the company listed on the NASDAQ, American and Liberty-related costs, various filings with the SEC that were required due to the listing, and the amortization of the stock-based compensation under the equity incentive plan and the non-cash bonus awarded to certain executives. Under the purchase agreement with BLI that was announced in June 2025, as of September 30th, we have sold 202,000 shares, generating net proceeds of $256,000. I now hand over to Pankaj to continue the presentation.