The Singing Machine Company, Inc.

Good day everyone and welcome to today's Singing Machine Announces First Quarter Earnings. At this time, all participants are in a listen-only mode. Later, you'll have an opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing the star and 1 on your touchtone phone. Please note, this call may be recorded and I will be standing by if you need any assistance. It is now my pleasure to turn today's program over to Brendan Hopkins.

Go ahead. Thank you. Good morning, everyone, and thank you for joining us. We have a brief safe harbor, and then we will get started. Except for historical information contained herein, the statements in this conference call are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from forecasted results. With that said, I would like to turn the call over to Gary Atkinson, CEO of Singing the Shame.

Thank you, Brandon. Hi, everyone. Good morning. I want to thank everybody for attending our first quarter earnings call. My name is Gary Atkinson, company CEO. I'm also joined this morning by Lionel Marquis, company CFO of and Bernardo Mello, our VP of Global Sales and Marketing. I'm gonna start the call today by saying it's been a truly historical last few weeks for the company. For those that have been following us for a while, you will all likely know that for the last 14 years, we have been majority 50% owned by our former Chinese manufacturing partner. Last week, we closed on a significant private placement where we raised $10 million from a mix of very large, well-known, well-respected U.S.-based funds. We also have announced that Stingray Group, our longtime strategic content partner, participated in this recent private placement. This morning, prior to this earnings call, we've also announced how we intend to use a large portion of the capital that we raised, which is to buy back all of the approximate 19.6 million shares that was held by the 50% majority owner. So in effect, what we've done is we've restructured our shareholder base by swapping out our large legacy majority shareholder and replacing him with a number of high-quality, long-minded U.S. funds and our strategic technology and content partners. We believe this private placement and share buyback will be transformative to our business. not just from an operational and strategic perspective, but also from an important corporate governance perspective. By removing the majority owner and replacing that shareholder with multiple institutional and strategic investors, today the optics of the business were completely different than we did a few weeks ago. We are now aligned with investors that want to see the company grow, that have confidence in our business, confidence in our management team, share our vision for transforming the company, and I believe they have the means and the willingness to support us. Further, by removing the majority shareholder, we have removed an obstacle that will potentially, that would have potentially prevented a future national exchange uplist application. Further to all of these news, all of these transactions, we will also be completely restructuring our board of directors to include a new appointment from the Stingray Group, adding myself onto the board, and also adding a soon-to-be-named list of well-respected individuals from the industries of retail, technology, and capital markets. We have a lot of plans that our team is already hard at work pursuing, but for now, I'll start by saying we're thrilled with what we've accomplished over the last few weeks. We look forward to beginning our plans to transform this business from a primarily hardware-based company to a more fully integrated technology and hardware software business with recurring revenue. So with all that being said, I want to turn the call over to Lionel, who will help talk us through some of the important first quarter updates. So go ahead, Lionel.