Legend Power Systems Inc.

Ladies and gentlemen, this is the operator. Today's conference is scheduled to begin momentarily. Until that time, your lines will again be placed on hold. Thank you for your patience. Music Good afternoon. My name is Chino and I'll be your conference operator today. At this time, I would like to welcome everyone to the Legend Power Systems Q3 2021 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 resolve your question, press the pound key. Thank you. Mr. VanVy, you may begin your conference.

Hi, everybody. It's Steve VanVy, Legends Chief Financial Officer. Welcome to our fiscal 2021 Q3 investor call. We're pleased to have you join us on the call today to discuss our corporate progress and financial results for the third quarter of 2021, which were the three months ended June 30th of 2021. 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 discussion and analysis, which was filed on CDAR under our company profile. That's at cdar.com. I will now pass the call over to Legends CEO, Randy Buckemer, for an overview of our third quarter. Randy? Hi, Steve.

Everyone, welcome to the fiscal 2021 Q3 investor call. Thanks for participating. Obviously, you've heard Steve is on the call. He's our CFO. We've got Mike Ciosi, our VP Sales and Marketing. We've got Mark Peterson, our VP Technology and Engineering. And obviously, Steve will come back and provide a financial overview. Mike Ciosi will update you shortly regarding the great sales activity progress, and Mark will provide a Gen 3 and supply chain update. I'm pleased to tell you that despite the pandemic and all the things that have been going on around the world, but we are continuing to experience growth in all aspects of our business. We continue to believe that our opportunity to be a leading active power management solution has never been better, and we'll continue to do so. We're at the beginning of a 20 to 30-year transformational journey where companies are going to spend trillions of dollars a year needing to protect their buildings from electrification and decarbonization challenges. And Legend is perfectly positioned to be a leader in this enormous business transformation. Specifically during the quarter, we continue to achieve our intended business activity growth. Deal flow pipeline expanded significantly. Quite simply, we have more opportunities than we can currently support. Backlog is growing. Insight service deployments are meeting or exceeding targets. Reseller and ESCO channels are embracing both insights and smart gate solutions. Mike will speak about the successful channel sales training and some of the ESCO progress conducted during the quarter. Basically, the target markets and reseller channels continue to respond very positively to legend solutions and our combined opportunities. Highlighted during the quarter, we completed a $10.3 million gross raise to support our growth plans. We have the balance sheet to support our very aggressive growth goals. Our biggest challenge is we need more A players on the team to meet the demand for our solutions. We've been constantly interviewing to find that people will make a difference, those A players that make companies. We hired a production specialist, Ben, to help us manage supply, inventory, and production, and he's made immediate impact. In July, we added a senior business manager in New York who's had a very impressive start. Starting September 15th, we will have our very first channel leader who will bring years of experience and contacts to grow our channel business. We're lucky to get this person. This person knows more about channel development than all the current Legend team. The channel's leader also was picking their own team. They've already introduced us to an A player that they've known for years. And we put an offer out to that person this week. And we're very pleased to say today that that person accepted. So we've got two new, very high-end sales talent joining the team. And we're growing to meet the opportunities that we see in multiple markets and channels. Our other channel problem that we've had is through the challenge of securing parts and assemblies uh to meet the gen 3 demand a lot of people have asked questions about that but we know that most every company has experienced the same challenge of part shortages and price spikes as i mentioned earlier we've got a specialist who's joined us to improve our operations and we have a part-time person that's 100 sourcing securing parts mark will talk about this a bit later but we're doing everything we can to manage the process but it will affect delivery times We have not and we will not lose any business due to part shortages and delays. Margins will be impacted as previous sales were based on them, current costing, and we have experienced price hikes. We expect the situation to continue for possibly 12 months. We'll see how that goes. 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 technologies like Legend's Smartgate platform. And clearly, the world is looking for products like Legend's Smartgate platform, and we're poised for significant growth. Combining our new platform with exciting sales progress, which Mike will talk about, all of us have a lot to look forward to. Quite simply, we expect to see continued confirmation that the time is now for Legend and our solution. And during these uneasy financial market times, It's absolutely comforting to know that Legends has depleted the capital raised and has the sufficient balance sheet and resources to fuel our growth plans. We're investing to grow is what we told people when we raised the money, and we are investing to grow with people and additional talent in key parts of the organization. We're building a strong engineering team that will continue to release leading-edge energy management solutions. We'll continue to improve. and expand our sales team to ensure we achieve our growth targets. I'll now turn the call over to Steve Banner, our CFO, who will provide a financial review, followed by my COC VP Sales and Marketing, and Mark Peterson, VP Technology and Engineering, to speak about the excellent product and sales improvements we've made during the quarter and how our target markets are responding to our leading solutions. Over to you, Steve.