REX American Resources Corporation

Greetings and welcome to REC's American Resource Corporation second quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Doug Bruggeman. Thank you. You may begin.

Good morning, and thank you for joining RECS American Resources Quarter 2 2025 Conference Call. With me on our call today are Stuart Rose, RECS Executive Chairman, and Zafar Rizvi, the RECS Chief Executive Officer. We'll get to our presentation and comments momentarily, as well as your questions. But first, I will review the Safe Harbor Disclosure. In addition to historical facts or statements of current conditions, today's conference call contains forward-looking statements that involve risk and uncertainties within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the company's current expectations and beliefs but are not guarantees of future performance. As such, actual results may vary materially from expectations. The risk and uncertainties associated with the forward-looking statements are described in today's news announcement and in the company's filings with the Securities and Exchange Commission including the company's reports on Form 10-K and 10-Q. Rex American Resources assumes no obligation to publicly update or revise any forward-looking statements. I'd now like to turn the call over to our Executive Chairman, Stuart Rose.

Good morning, and thank you to everyone for joining us today. During the second quarter, Rex extended our success in our core ethanol production business, moved our One Earth energy expansion project forward and saw supportive near-term tailwinds develop for our business as we head to the second half of the year. Overall, Rex exited the second quarter in a great position to continue delivering value to our shareholders. Passage of the One Big Beautiful Bill Act during the quarter was very supportive for our carbon capture and sequestration project, the continuation of the 45Q tax credit, extension of the 45Z tax credit through 2029, according to the economics of our project, put us in good position. We wait on approvals from the county, state, and EPA. We are pleased with these developments and believe they set up RECs for long-term success. During the quarter, we maintained our strong balance sheet and continue to have ample cash to complete our several growth initiatives, as well as other opportunities which could arise. These include any potential acquisition opportunities that meet our strict operational and financial criteria or additional future organic growth. This morning, we announced that our board of directors has authorized a two-for-one stock split that would be affected by a 100% stock dividend. Their stock recently traded at all-time highs, We saw this as an opportunity to reward our loyal shareholders and increase liquidity in our shares. Split will affect shareholders of record as of September 8, 2025. Overall, the Rex team executed at a high level once again, delivering value to our shareholders and moving our business forward efficiently. We are very proud of the work the team does every day to ensure our company's success drive value for shareholders. I'll now turn the call over to CEO Zafar Rizvi to provide updates on our ongoing projects.