Clipper Realty Inc.

Thanks for holding. We appreciate your time and patience. Please stay on the line, and we'll be back in just a moment. Good day, ladies and gentlemen, and welcome to the Clipper Realty fourth quarter 2022 earnings call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Larry Kreider. The floor is yours.

Hi. Good afternoon, and thank you for joining us for the fourth quarter of 2002 Clipper Realty, Inc. Earnings Conference Call. Participating with me on today's call are David Bistresser, co-chairman of the board and chief executive officer, and J.J. Bistresser, chief operating officer. Please be aware that statements made during the call that are not historical may be deemed forward-looking statements and actual results may differ materially from those indicated by such forward-looking statements. These statements are subject to numerous risks and uncertainties, including those disclosed in the company's 2022 annual report on Form 10-K, which is accessible at www.scc.gov and our website. As a reminder, the forward-looking statements speak only as of the date of this call, March 16, 2023, and the company undertakes no duty to update them. During this call, management may refer to certain non-GAAP financial measures, including adjusted funds from operations, or AFFO, adjusted earnings before interest taxes, depreciation and amortization, or adjusted EBITDA, and net operating income, or NOI. Please see our press release, supplemental financial information, and form 10-K posted today for a reconciliation of these non-GAAP financial measures with the most directly comparable GAAP financial measures. With that, I will now turn the call over to our co-chairman and CEO, David Bistrasser.

David? Just one second, please. Just one second. Sure.