Greystone Logistics Inc

Please stand by, your program is about to begin. If you need assistance during today's conference, please press star zero. Good day, everyone, and welcome to today's Q3 financial results. At this time, all participants are in a listen-only mode. Later, you'll have the opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing star and one on your touchtone phone. You may withdraw yourself from the queue by pressing star and two. I will be standing by if you should need assistance. It is now my pleasure to turn the conference over to Brendan Hopkins.

Thank you. We have a brief safe harbor, and then we'll 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 Warren Kruger, CEO of Greystone.

Thank you, Brendan, so much. I just want to welcome everyone today to the call. We've had a very exciting conversation. the third quarter and we'd like to just review that with you. I'll, I'll talk, I'll let Bill Rahal speak more to the numbers today. I just want to talk about the overall business and the health of the business. We are a, we manufacture 100% recycled plastic shipping pallets and we do it very, very well. If we process in our recycling center, probably up to 50 million pounds of plastic a year. We're grinding, granulating, making BBs out of it that will then in turn be injected into our product line. And our product line continues to grow. Over the last six months, we've added two different products, a 45-45 nestable that snaps together with a bottom, and a 48-40 with a flat deck that also is nestable and snaps together with a bottom. These help in transportation for our customers, and the 4545 is a product more for the international shipping business because containers, they like to utilize 4545 pallet sizes in shipping containers. We've added a couple machines that are not operational quite yet. We've put these down in Missouri at a company that we work with, Hand and Glove. These 3,300-ton machines, we anticipate filling those up over the next few quarters, and it'll add significant revenue to our top line. We're excited about that as well. Our pipeline is very active. Walmart continues to be a great customer. We'll be producing for them over the next three years at one particular facility. and there's a lot of other DCs that are also anticipating putting plastic in. Our relationship with our large customer, IGPS, which is a pallet leasing company, you'll see redwood pallets out in the market, and you'll see blue wooden pallets, and those pallets are rented pallets to to industry and our customer igps rents plastic pallets out in there so if you go out to a costco and you see a plastic pallet in the utilized that's most likely we produce that pallet so um that relationship we had a little rocky spell when there was a change of of management and we now have a wonderful relationship we've gotten through all the the uh concerns and uh We are actually, over the next 90 to 120 days, we'll produce an extra $5 million worth of product that wasn't anticipated that we will be producing for them. We are also, this is a nice time to announce that we've just completed the acquisition of a extrusion line that's set up in Indiana. And this extrusion line was to make plastic shipping pallets. Unfortunately, this company, they put in their automated line right at the end of 19 and was producing a product for Toyota. However, we all know that COVID affected the world then and it affected them. So the company could never get back on its feet, and so we purchased this equipment last week, and I'm excited. It'll give us the opportunity to do odd sizes. We have a customer who's asked us to produce a 96-inch by 48-inch piece. And with injection equipment, our injection molds are 40,000-pound molds, and they cost anywhere from $200,000 to $400,000, and that size of an injection tool is just too much. So we're excited that we'll be able to produce odd-sized product off of this extrusion line. There's some dye work we need to do and some preparatory work and so forth, but we've kind of kicked off with a bang, and we are excited about that. Operationally, Marilyn Carter is our general manager. She's doing a great job for us. Our long-term manager, Ron Skelhaus, is now helping out in our world of working with the Walmarts of the world and the Simplots and some of our other large customers. to help me on the customer service side and on the sales side. So we're excited about that. We think that Greystone is well positioned to head towards that $100 million mark in the not-too-distant future. The world of plastic pallets just continues to grow. I know it sounds... Sometimes people at a dinner party will roll their eyes when they ask what I do, but it is an unbelievable part of our culture in America. There are two billion pallets out there in the United States moving around right now, and we're happy to be a portion of that in plastic. So without further ado, because I'm going to open it up to questions later, Brendan, do you mind taking it from here so Bill can go over the numbers?