Netcapital Inc.

Good day, ladies and gentlemen, and welcome to the NetCapital, Inc. quarterly call. At this time, all participants have been placed on a listen-only mode, and we will open the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Corrine Kressler. Ma'am, the floor is yours.

Thank you, Matthew. Hello, everyone, and welcome to NetCapital, Inc.' 's fiscal 2022 third quarter earnings conference call. Thank you for joining us this afternoon. This is Corrine Kreisler, CFO of NetCapital, Inc., and with me today are Cecilia Link, CEO of NetCapital, Inc., and Jason Frischmann, CEO of NetCapital Funding Portal, Inc. In today's presentation, we'll review NetCapital, Inc.' 's performance for the quarter ending January 31, 2022. A recording of this call will be made available on our website shortly after its conclusion. After today's remarks, the operator will open up the line for questions. NetCapital, Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online from both accredited and non-accredited investors. We give all investors the opportunity to access investments in private companies through our online portal, netcapital.com. Our model is disruptive to traditional private equity investing and is based on Title III Reg CF of the Jobs Act. We generate fees from listing private companies on our portal. Our consulting group, NetCapital Advisors, provides marketing and strategic advice in exchange for equity positions and cash fees. The NetCapital funding portal is registered with the SEC and is a member of the Financial Industry Regulatory Authority, or FINRA, a registered national securities association. The NetCapital funding portal charges a $5,000 engagement fee and a 4.9% success fee for capital raised at closing. In addition, the portal generates fees for other ancillary services, such as rolling closes. NetCapital advisors generate fees and equity stakes from consulting or select portfolio and non-portfolio clients. Our revenues for the three months ended January 31, 2022 increased by 42% to 1.8 million as compared to 1.3 million reported for the three months ended January 31, 2021. The increase in revenues is attributable to an increase of almost 370,000 or 44% in non-cash revenue from the receipt of equity and an increase of almost 95,000 or 38% in portal fee revenue from our funding portal. The company reported 1.8 million in net income for the quarter versus 42.6 thousand in the same quarter of last year. Debt forgiveness of 1.9 million was included in the net income figure for the most recent quarter. Diluted EPS was 63 cents versus 2 cents in the previous quarter, while equity securities at fair value increased to 11.3 million versus 6.3 million at April 30th, 2021. And now I'll turn the call over to Jason Frischman, CEO of NetCapital Funding Portal Inc. Jason, the floor is yours.

Thank you, Corrine. We are pleased to share with you that NetCapital was named Best Crowdfunding Platform at the 2022 FinTech Breakthrough Awards, a premier awards program founded to recognize FinTech innovators, leaders, and visionaries from around the world. The 2022 FinTech Breakthrough Award program attracted nearly 4 000 nominations across a range of categories it's an honor to be recognized as the best crowdfunding platform and our mission is to make it seamless for entrepreneurs to raise capital so they can concentrate on what they do best building their businesses for growth and value by leveraging the power of the community for funding we make it easy for companies to gain exposure and build brand loyalty it's rewarding to be selected for this award in the company of some of the most impressive fintech leaders in the market both well-known names and innovative startups. The FinTech Breakthrough Award nominations were evaluated by an independent panel of experts within the financial services and technology industries, with the winning products and companies selected based on a variety of criteria, including most innovative and technologically advanced products and services. Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, The FinTech Breakthrough Awards program is devoted to honoring excellence in financial technologies and services, companies, and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products and categories, including payments, personal finance, wealth management, fraud protection, banking, lending, reg tech, insure tech, and more. For more information, you can visit FinTechBreakthrough.com. And now I will hand the call over to Cecilia Lenk, CEO of NetCapital, Inc. Cecilia?