Legend Power Systems Inc.

Hello, my name is Phillip, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Legend Power Systems Q4 2020 Financial Results Release and Conference Call. All lines have been placed on mute to prevent any background noise. 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, then the number one on your telephone keypad. If you would like to withdraw your question, press the pound key. Thank you. Mr. Vannery, you may begin your conference.

Thank you. Good afternoon, everybody, and welcome to Legend Power Systems Fiscal Year 2020 Investor Call. I'm Steve Vannery, Legend's Chief Financial Officer. We're pleased to have you join us on the call today to discuss our corporate progress and financial results for fiscal 2020. And as a reminder, our fiscal year end is September 30th, so about four months ago. Please note that certain statements in this call may be forward-looking in nature. These include statements involving known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements. For more information about Legends forward-looking statements and risk factors, please see our year-end management's discussion and analysis, which was filed on CDAR today, actually just a little while ago, under our company profile at cdar.com. I will now pass the call over to Legend CEO Randy Buckemer for an overview of our fourth quarter and fiscal year. Go ahead, Randy.

Thanks, Steve, and welcome to everybody to our fiscal 2020 Q4 investor call. The team is pleased to have you join us on the call today to discuss our corporate progress and provide you with fiscal Q4 investor and financial market business updates. You've heard from Steve, our CFO. He'll give you additional financial information later on. And Mike's the OCRPP sales and marketing. And you look back at the year, we posted lower revenue, but we have far more sales opportunities in multiple regions and verticals than any time in Legends history. We've all experienced the pandemic slowdown impact on business, but we absolutely moved our business fundamentally ahead during 2020 in so many ways. I'll leave Steve again to talk about the financial changes the last year and how we proactively manage the business on a cost basis through the pandemic as best we could. And COC will shortly regarding the significant advancements achieved during the year to increase the size of our sales pipeline, improve our sales team, sales processes, and reduce the length of our sales cycle. Lots of exciting stuff, definitely on the sales side. And since we have a few new investors on the call, I'd like to quickly just review what Legend Power was and what we transitioned to in 2020 and where we're going. Legend originally addressed the problem of utilities delivering too high a voltage to commercial buildings by optimizing the voltage in a building to achieve maximum energy efficiency and equipment performance while reducing carbon emissions. But many decision makers regarded Legend as a simple payback story. What does it cost? How much does it save? And how long is the payback? Although we had no direct competitors, we competed for budget dollars against other energy-saving offerings. Regardless, we still installed 300 systems with our base value propositions. Over the last few years, based on customer feedback, we needed to offer more than just energy savings, and we've enhanced our platform to do so much more. We developed a new platform, SmartGate, to save energy and address the common power problems occurring in buildings. Over the last couple of years, we invested several million dollars to develop a new and expanded legend SmartGate platform and educate our target markets about our solutions, and we're seeing a significant increase in interest and order flow. During 2020, we introduced our analytics product, Insights. It performs detailed power analysis to identify problems and opportunities to improve power quality and efficiencies in commercial buildings. Insights analyzes over 200 power parameters, which form a power impact report, where we present our findings and recommendations to our prospects. In this way, we are pulled into our customer's business instead of trying to push our products to the prospect. This is a huge improvement how we sell and as we still help customers save energy, but we can do so much more for our target markets. Mike will highlight our significant progress with insight acceptance and deployments. Again, excellent progress during the year. During 2020, a massive shift continued and climate and environmental initiatives became top corporate objectives. the world started to take serious steps to positively impact climate change. In all Allegiant's markets, we saw consistent and systemic change to make buildings less harmful to the environment, combined with improving efficiencies, reducing costs, and making a better tenant experience. Listening yesterday to President Biden's address, he stressed that electrical energy-saving technologies for homes and commercial buildings will be supported, by government programs to encourage adoption. This is exactly where Legend Power and our solutions play. Really exciting times. Regardless of the region, companies appointed senior leadership to address ESG and building energy improvement efforts, and everyone is looking for new and innovative energy technologies. Leading unique technologies like Legend's SmartGate platform, So clearly, the world is looking for products like Legend's Smart Day platform. We're poised for significant growth. Combining our new platform with exciting sales progress, which Mike will speak to, and the excellent adoption of Insights as a leading product, all of us have much to look forward to. Quite simply, each of you can expect to see continued confirmation that the time is now for Legend Power and our solutions. We've invested to grow by improving our sales team, processes, and building a strong engineering team that will continue to release leading-edge energy management solutions. We will continue to improve and expand our sales team to ensure we achieve our growth targets. We continue to earn the respect of our target markets and their ecosystems and make them comfortable that Legend Power is an innovative company to work with. We continue to build our brand with key ecosystem players to ensure they are aware of and ultimately support Legend Power in their clients' buildings. Again, Mike will share how excited we are about our growing reseller and ESCO markets. And if there's one thing that's changed in the last 12 months, it is the reseller and ESCO opportunities are huge for us. The team is very positive about Legend's future. and we're each committed to making Legend Power a leading energy management company. I'll turn the call over to Steve, again, our CFO, who will provide that financial review, followed by Mike Ciosi, VP Sales and Marketing, to speak about the excellent product and sales improvements we have made and our target market's response to each of the leading solutions.