Greystone Logistics Inc

Please stand by. Your program is about to begin. If you should need any audio assistance today, please press star zero. Good day, everyone, and welcome to today's Q1 results call. At this time, all participants are in a listen-only mode. Later, you will have an opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing the star and one on your telephone keypad. I'll be standing by should you need any assistance. It is now my pleasure to turn today's program over to Brendan Hopkins.

Thank you, Anthony, and thank you everyone for joining us today. We just have a brief safe harbor and 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 Logistics.

Thank you, Brendan. Hi, this is Warren Kruger. For those, I really appreciate everyone joining today. We just wanted to discuss our last quarter, and we can open it up to other questions, but we're really pleased with our June, July, August numbers. I don't have to review those. Those came out in our press release, and you can go to the online and find those numbers, but I do want to just go over a few of the opportunities that we have and what we did last year that is positioning ourselves for the future. We did put in two brand new large tonnage machines. We need to fill those. And so we are working diligently to do so. And the opportunities with the new equipment, we've also expected our reach with some new products. We had a 4456, which is for the bottling canning industry. We had an old tool that we had we outsourced to a structural foam company. That tool, I will say, it was a good tool, but the product itself was not designed very well. We had issues with the manufacturer getting product out. We never knew what it was going to cost. It was very hard for us to price. So we bought a new injection tool for that particular market. And that would be like anything you have in your hand today, a bottle of water, a can, a Coke can, a beer can, anything like that. There's so much of that in America. It just always amazes me, the insatiable nature of our economy. And so the bottling canning industry, we've met with Ball, a very large can manufacturer. They wanted us to get involved in a more active way. So that's We are actually testing that product at Virginia Tech now. Virginia Tech and Michigan State, there are various universities across the country that do a wide variety of testing for the transportation industry. They're testing that, and they'll put on their racking ability and all these kinds of tests that will help us long term. Once we have that data, we'll be able to market that. not only to Ball, but to others such as our existing customer, Molson Coors. They buy as well. So it's a very good opportunity for us. We have a mirror palette that's coming, which really is the same on the top as it is on the bottom. And I know these may put you to sleep a little bit, but it's exciting because for the nut industry, for pecans, walnuts, anything like that in the nut industry, they have a really tough time with existing pallets because their bags go up underneath existing pallets and they get stabbed with fork tines. And so I don't want to bore you with it, but we're excited about that product. That product's also good for quickcrete, for concrete, very, very rough and tumble industry. But quickcrete, we have had multiple discussions with a Quickrete Manufacturing in South Texas. And they have tested some prototypes that we did. And with our new tool, we're hoping to do some rollouts. I want to talk about the beverage industry really seems to be really reaching out to us at this time. So I'm hoping over the next six months, we will have some additional beverage companies on board with us. We're excited about that. Walmart continues to be a big opportunity for us. We've been producing for them. We stopped. There's a few things that Walmart wants us to look at doing to our product. They want us to put some handholds in there. And their associates, they are very cognizant of their associates and making sure that ergonomically they are, if they have to lift a pallet, that it's done right. So we're looking at that and that opportunity with them. We've done a lot of business with them in the past, and I believe we're going to do a lot of business with them in the future as well. We've also, our fire retardancy that we've talked about in the press and online before, We're doing some testing in the next week on three different fire retardant chemicals that we believe we have an opportunity to pass. This is a big deal. Why? Because Costco really wants a fire retardancy in there, any product that's in there, any plastic pallet that is in their facilities. And with Costco, those are suppliers that would be feeding into Costco. So the opportunity is huge. We previously had a fire retardant additive. It had decabromine in it, which is banned now. So we don't utilize that anymore at all for our own account. So we needed to find other opportunities. And it's a fine line. You can get it done, but it's also hard to sell $125 plastic pallet. So we have to be very careful with the the cost of the chemical additives that go in and so forth. So I just want to bring you up to speed on where we are. We also bought an extrusion line to do extruded boards. So these extruded boards can be any size. So if someone says to us, gosh, we need a 30 by 40 pallet and we're only putting 600 pounds on board, rather than spending $300,000 for a new tool, we're able to make those with the extruded board. When we bought the assets of this extrusion company, I was not pleased with the product that they were getting off the line. So we have been doing some things with the dyes to make them a better product, a flatter product, because I want us to be proud of the product we put out, and I want our customers to be very, very accepting. So I anticipate that over the next quarter we'll have something to report to you in about 90 days, at least an update, and I'm hoping that we'll be pleased and you'll be pleased. So with that, I want really Bill Rahal to go over the numbers once again, and then we'll open it up to questions and we'll be happy to answer anything you might have. Bill? Bill?