Farmers Edge Inc.

Good morning and welcome to the Farmers Edge live audio webcast for its second quarter 2022 financial results and business highlights. Please be advised that reproduction of this audio webcast in whole or in part is not permitted without written authorization from the company. All lines have been placed on mute to prevent any background noise and after the speaker's remarks there will be a question and answer session. If you would like to ask a question during this time Simply press star and the number one on your telephone keypad. If you would like to withdraw your question, please press the pound key. Individuals will be limited to two questions per person before being put back in the queue. At this time, I would like to turn the call over to Cindy Yuan, Chief Financial Officer of Farmer's Edge. Please go ahead.

Thank you, operator, and good morning, everyone. Before we start, I would like to remind you that all amounts disclosed on this call are denominated in Canadian dollars, unless otherwise indicated. Please note that prepared remarks contain forward-looking information, and additional forward-looking statements may be made in response to your questions during the QAA portion of the call. These statements reflect the company's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties. many of which are beyond the company's control or could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Listeners are urged to consider assumptions, risks, and uncertainties associated with such forward-looking information, including by referring to the assumptions, risks, and uncertainties discussed in the pharmaceutical findings with the Canadian Securities Administrators. These statements do not guarantee future performance, and therefore undue reliance should not be placed upon them. The company does not undertake any obligation to update forward-looking information provided during this audio webcast, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. Finally, we would like to remind listeners that the company may refer to certain non-GAAP measures and key performance indicators or KPIs during the audio webcast for further details on non-GAAP measures and KPIs, including relevant definitions and certain recommendations. See pharmaceuticals with Canadian securities administrators. We have also posted on our website a short presentation that may help you follow along with our remarks. I now turn the call over to our chairman, Bill McFarland, for opening remarks.

Bill McFarland Thanks, Cindy, and welcome, everyone. Q2 has been a busy and challenging quarter as we made important leadership changes in the company and also fell short on performance targets and expectations around acre retention and revenue growth. As you know, Vibor Aurora became our new CEO in early June, was formerly with Amazon, and has a strong track record in driving growth. The board is very pleased to have them on board. He hit the ground running and has gained, over the past two months, a good understanding of our business and operations, both the positives and the warts. Goodmore and the leadership team are developing both a turnaround plan to execute in the near term and a revised strategic plan covering the longer term. The management team's immediate focus is to finalize the actions and execute the turnaround plan, which deals with improving execution to drive profitable revenue growth in the short term and to implement significant cost-saving measures to right-size our business in line with our current business reality and reduce the cash burn rate. As you will appreciate, these plans are fluid, and VIVOR will discuss them at a high level on this call and also provide a general business update. There is a lot to do, and the Board is actively supporting VIVOR. Management is also reducing the number of initiatives undertaken with the goal of executing with speed and agility on identified priorities that will move the needle. We also closed the Fairfax Loan Agreement recently, and it provides us with financial support, but we are also keenly aware that the cash burn rate must be reduced, and business as usual is not an option. I'll now pass it over to Vibhar for his update.