Legend Power Systems Inc.

Great. Good morning. Thanks, Mike. Welcome to Legend Power Systems Fiscal 2025 Q3 Investor Call. I'm Randy Buckemer, Legend's CEO. We're pleased to have you join us today to discuss our corporate progress and financial results for the third quarter of Fiscal 2025, which were the three months ended June 30th, 2025. Please note that certain statements in this call may be forward-looking in nature and 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 Legend Power's forward-looking statements and risk factors, please see our management discussion and analysis, which was filed on CDAR yesterday under the company profile at cdarplus.ca. I'm joined by Florence Tan, our CFO, and Mike Cioci, VP Sales and Marketing, and Paul Moffitt is on holidays during this call. Florence will provide a financial overview of the quarter. Mike will update you on the strong Gen3 solution market performance, customer acceptance, and the growing sales funnel. And the sales team has secured several outstanding partners. and are keen to grow their businesses with legend solutions. We've been frustrated with U.S. government flip-flops on programs and policy changes that have deferred significant orders. But I want to be absolutely clear today. We have not lost, nor do we expect to lose any U.S. government business. We have experienced delays, but we do expect good order flow. We've operated in a very tight cash environment for the last couple of years and Q3 was also a tight cash quarter. We continue to make the necessary expense and operational cost reduction changes for this environment. We continued to lower our component costs and we continue to lower our component costs and increase our system margins. We're on track to achieve 50% plus margins during the next year. We managed our backlog by leveraging existing inventory to continue fulfilling commitments. We currently have a 15 system backlog and expect all systems to be shipped by calendar year end. Also want to acknowledge the dedication and resilience shown by the Legend team during the last quarter of challenging times. It's been commendable and we thank the Legend team members for their ongoing support. We see opportunity more than ever before. SmartGate interest is strong. We're close on numerous large multiple year deals and infield system performance has been absolutely outstanding. We're transitioning from commitments for dozens of SmartGate installations annually to hundreds per year. This shift is underpinned by strong execution, proven solutions and a growing pipeline of opportunities. We are extremely confident that our progress is not just upward, but transformative. Importantly, while the green investing sector has faced political challenges, Legend Power Systems value proposition transcends political narratives by delivering lower cost, increased profitability and reduced risk. We provide enduring value rooted in traditional business fundamentals. We see a bright Legend future and the Legend team is absolutely focused and committed to make Legend Power a success story. Florence, please provide the financial highlights.

Thank you, Randy. During this quarter, revenue recognized was $385,000 compared to $1 million in Q3 of fiscal 24. The third quarter reflected lower revenues due to deal timing as we still have a significant backlog which we expect to be fulfilled in calendar 2025. Our gross margin for the quarter was 24% compared to 50% in Q3 of fiscal 24. Gross margin percentage has decreased due to this quarter's production utilization, as well as some rush orders in the prior year, which attributed to the higher margins in Q3 of 2024. The company ended the quarter with $215,000 in cash, no debt, and $156,000 in working capital. The company received $214,000 of outstanding trade receivables and deposits from sales orders subsequent to June 30th, which further strengthens our working capital position. We continue to focus on priorities critical to attaining our projections while managing our resources to support our sales growth and to deliver for our shareholders. I'll pass it back to Randy for some operational highlights.

Actually, I think we'll go right to Mike if we can for a sales update.