Presidio Property Trust, Inc.

Good afternoon, ladies and gentlemen, and welcome to the Presidio Property Trust second quarter 2021 earnings call. At this time, all participants have been placed on a listen only mode. It is now my pleasure to turn the floor over to your host, Lowell Hartcorn. Sir, the floor is yours.

Thank you, operator. Good afternoon and welcome to Presidio Property Trust's second quarter 2021 earning call. My name is Lowell Hardcourt, investor relations here at Presidio. Joining me on the call today are Jack Heilbrunn, our president and chief executive officer, Adam Sragowicz, chief financial officer, Gary Katz, senior vice president of asset management, and Larry DuBose, the head of our model homes division. Jack, Adam, Gary, and Larry will make prepared remarks today. and then we'll be happy to take your questions via chat. At any time during this call, you can click on the Ask Question button on the media player window to submit questions to our team. We ask for your patience today. Following social distancing recommendations, each of us from the company will be speaking from separate offices. Unless otherwise noted, Comparisons made on this conference call will be between the second quarter of 2021 and the second quarter of 2020. In addition, today's discussion will include forward-looking statements, which are always subject to risk and uncertainties. Actual results could differ materially from these forward-looking statements. Please refer to our SEC filings for a detailed discussion of potential risks and uncertainties. During this call, we will use rounding and abbreviations for the sake of brevity. We will also be discussing non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are included in our earnings press release, which was just filed on our form 8K. Earlier today, as a reminder, This conference call will be made available for replay in the presentation area of the investor sections of our website, www.presidiopt.com, where we will also post our prepared remarks following the conclusion of this call. With that, let me turn the call over to Jack Heilbrunn, our president and CEO.

Thank you, Lowell. So much can change in a quarter. At one point during the second quarter, the market capitalization of our entire company was only $25 million. For those of you that have been following our progress, you know that in June we raised $23 million of gross proceeds by selling a new series of preferred shares. And in July, we raised an additional $10 million of gross proceeds by selling additional common shares and warrants. With the new 2 million warrants now outstanding and at a strike price of $5.50, that represents a potential new $11 million in equity capital should the warrants be exercised at some point over their five-year life. Our company's diversified nature remains one of our important strengths. We hope to announce an acquisition or two soon with the capital that we've recently raised. And these are opportunities that are only available to us because of our flexible approach. We are focused on areas with solid population growth, substantial university, government employment, and tenants who provide necessary services. There are still plenty of acquisition opportunities out there, which we will look forward to telling you about soon. I will now turn the call over to Adam Sargovich, our CFO, to share some of the financial highlights of the quarter and the first half of the year.