Leverage Shares MANGOS ETF

and welcome to MGO's Global First Quarter Results webcast. Joining us from MGO are Maximiliano Ojeda, co-founder, chairman, and CEO, MGO's Chief Financial Officer, Vincent Armanelli, and the company's Chief Marketing Officer, Matt Harwood. Before I turn the floor over to them, I remind you that during today's call, statements that are not historical facts, including any projections, statements regarding future events or future financial performance, or statements of intent or belief, are forward-looking statements and are covered by the safe harbor disclaimers contained in the company's public filing with the SEC. Actual outcomes and results may differ materially from what is expressed in or implied by these forward-looking statements. With that said, I'd now like to introduce Max. Max, the floor is yours.

Thank you, Kat. I'd also like to thank you all who have joined our webcast this afternoon. As the operator mentioned, I will be joined on today's call by Vincent Otomanelli, who will begin with the review of our first quarter results. I'll then resume the floor and share some highlights on the business before asking our CMO, Matt Howard, to provide you with some insights into our new AI-enabled marketing platform and the important role it will be playing on future growth. So with that, Bini, can you please dive into the numbers?

Sure, Max. And hello to all of you listening in on today's webcast. We appreciate your taking the time to learn more about MDO's progress, which was indeed notable in the first quarter of 2023. Yesterday afternoon, the market closed. We filed our first quarter report on Form 10Q with the SEC. If you have not had the chance to review it, you may access it on SEC.gov or via MGO's Investor Relations section on our website under SEC Filings. I encourage everyone to read our 10Qs and other filings with the SEC to ensure you have a full understanding of our business, financial results, and other important information disclosed. For the purpose of today's call, I'll hone in on the key highlights of our results, beginning with our revenue performance. So for the first quarter of 2023, revenues increased 238%, rising to $334,701, up from $99,077 reported for the first three months of 2022. This is an appreciable improvement, particularly in view of the fact that our sales for the first three months of this year was just $2,000 less than what we booked for the first nine months of 2022. So you can see the lift from our January IPO and becoming properly capitalized is having a meaningful impact on our overall sales performance. Now drilling down into our sales results, Revenues contributed from the Messy store represented 87% of our total sales for the first three months of 2023, climbing to $289,554, as compared to $99,077 for the same three months in 2022. The additional $45,147 in revenues came from sales of our new line of flagpoles and flagpole-related products, stemming from the exclusive worldwide licensing deal we signed with StandCo in early March. Later on this call, Max will be sharing some additional perspective on recent developments related to our flagpole business. Moving down our income statement, we reported a 211% increase in our total operating expenses which increased to $1,403,045 for the three months ended March 31st, 2023, as compared to $639,577 reported for the first quarter of 2022. The increase was largely due to higher general and administrative costs associated with our workforce expansion and an initiative made possible by our IPO. In addition to higher sales and marketing expenses, an investment in a new enterprise resource planning system, which we are in the process of implementing, and higher costs related to our becoming a publicly traded company on NASDAQ. Also, royalty payments made to Leo Messi Management totaled $307,883 in the first quarter of this year, which was down from $343,997 paid to Messi in the first quarter of 2022. The decrease in royalty payments is due to the accounting for foreign currency conversions from euros to the US dollars. After factoring the net loss attributable to non-controlling interests of $62,069 for the three months ended March 31, 2023, our net loss increased to 258% to $1,158,056, or $0.09 loss per share, which compared to a net loss of $511,071, or five cents loss per share, after factoring the net loss for non-controlling interests of $65,655. Now looking at our balance sheet. Our cash position has greatly improved due to the completion of our IPO. As of March 31st, 2023, cash was $5,397,340, up over 4,500% from $113,952 as of the end of December of 2022. Our working capital position as of the end of March this year was $5,750,403. Net proceeds in our IPO, which closed on January 18th of 2023, totaled $7,239,000 $855 after factoring offering expenses of $1,385,145. The IPO was also responsible for the improvement in our total stockholders' equity, which increased to $5,907,668 from a total stockholders' deficit of $1,194,561 as of December 31st, 2022. So that concludes the overview of the financial highlights. And now I'll turn the call back to Max. Max?