Canadian National Railway Company

Ladies and gentlemen, CN's fourth quarter and full year 2020 financial results conference call will begin momentarily. I would like to remind you that today's remarks contain forward-looking statements within the meaning of applicable securities laws. Such statements are based on assumptions that may not materialize and are subject to risks described in CN's fourth quarter and full year 2020 financial results press release and analyst presentation documents that can be found on CN's website. As such, actual results could differ materially. Reconciliations for any non-gap misses are also posted on CN's website at www.cn.ca. Please stand by. Your call will begin shortly. Welcome to the CN Fourth Quarter and Full Year 2020 Financial Results Conference Call. I would now like to turn the meeting over to Paul Butcher, Vice President, Investor Relations. Ladies and gentlemen, Mr. Butcher.

Thank you, Simon. Good afternoon, everyone. And thank you for joining us for CN's fourth quarter and full year 2020 financial results conference call.

If you're an accredited investor, I have big news. In the last 12 months, I bought five major American brands. I bought Pure One Imports, Linens and Things, Dress Barn, Franklin Mint, Models. I'm sure you've heard of one or all of those brands. But more importantly than how this has benefited me, I want to share with you how this might change how you invest your money. Every so often an opportunity arises that is so big you have to double check just to make sure it's real. And if you're an investor, you've probably been doing your research right now trying to predict what the next big thing is before the masses catch on. Because one thing history teaches us is that those who catch a new trend early are rewarded handsomely. Henry Ford, when he produced his first Model T car, must have thought, wow, why isn't everyone seeing what I see? Steve Jobs, when he created the first personal computer, couldn't believe his college professors doubted him. Elon Musk had that amazing foresight to understand how valuable Tesla would become. So there's good and bad news. The bad news is most investors will never catch one of these aha moments. They're too distracted following the crowd. But the good news is that a global shift of epic proportions has just happened. And what we predict to be 54 new investment opportunities have opened up right in front of our eyes. As the saying goes, there are decades where nothing happens and there are weeks where decades happen. Those weeks of change just happened. If you're an accredited investor, it's time to take action. My name is Ty Lopez and my business partner, Dr. Alex Marin, and I believe that the low-hanging fruit to be invested in is very simple. Buying distressed brands. specifically retail brick and mortar stores. And we mean buying them for pennies on the dollar and revitalizing and transforming them into e-commerce brands. In fact, we predict there will be 54 bankrupt brands to buy in the next eight months alone. There's a very narrow window to catch this opportunity, so don't be slow. Remember what they say in Vegas, scared money doesn't make money. Alex and I saw this opportunity a while back and have already begun. Maybe you read the USA Today article about us in October 2019 when we purchased Dress Bar for pennies on the dollar, a large female clothing brand that did over $740 million in revenue. We bought it from a publicly traded company and revitalized it by turning it into an e-commerce online brand that makes its sales from websites, not from brick-and-mortar stores. And remember, the brick-and-mortar business model was already dying before now. Now the nail has been hammered on the coffin.