Farmers Edge Inc.

Good morning and welcome to the Farmer's Edge live audio webcast for its third quarter 2023 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, 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 Jay Jung, VP Finance for Farmer's Edge. Please go ahead, Mr. Jung.

Thank you, operator, and good afternoon, 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 Q&A 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 forelooking information. Listeners are urged to consider the assumptions, risks, and uncertainties associated with such forelooking information, including by referring to the assumptions, risks, and uncertainties discussed in Farmers Edge's filing with the Canadian security 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 all the 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 reconciliation, see Farmer's Edge filings with the Canadian Securities Administrators. We have also posted on our website a short presentation that you may want to follow along with our remarks. I now turn the call over to our Chairman, Bill McFarland, for opening remarks.

Thanks, Jay, and welcome, everyone. The results for Q3 and year-to-date 2023 had a cash flow deficit that was significantly lower than the comparable periods in the prior year. Management is aggressively implementing its turnaround plan, and we are seeing positive developments that will be reflected in stronger financial performance in the future. These include the effective implementation of management's cost reduction plan. Expenses are now approximately 50% lower compared to 2022 levels. and many other key building blocks have been put in place. Farmer's Edge has a new, talented, and energized management team, which is taking the steps necessary to grow and build sustainable long-term revenue streams. Turnarounds are not easy, and it has required the hard work and dedication of all of our employees. And I want to thank Vivor, the new management team, and all of the employees for their efforts. We have made good progress with lots more to do. The company is also fortunate to have the unwavering support of Fairfax, its major shareholder, who believes in the business and continues to provide the funding for management to execute its business plan. This support is critical, so all of our stakeholders, including existing and new customers, employees, and suppliers are confident in our future. Before I'll now pass the call over to you.