Let's get started. We had a good tour of the factory. We're gonna take you through the presentation, do some deep dives into several different sections. Also talking a little bit about, you know, we have investors and people here who have been with us for a long time, and we also have some newer investors and friends of Titomic. Everything we do at the board and at the management team are basically based on, you know, three pillars of successes we talk about. It is the foundation, really, of the team, and I hope that, you know, having the opportunity yesterday with the dinner and interacting with people today, you will see that we've built a very solid team here in the U.S., but also globally. We will showcase that even more as we go through the presentation. We have now a team with relevant experience. We have very strong commercial technical excellence, which is trying to, you know, build up some of the capabilities. We're not done yet, but it really coming to, you know, nicely together. You know, Jim and Jim's leadership, this has been a, you know, huge transformation. Remember, he's only been CEO for 70 months. 70 months, it feels like longer too. It's been a remarkable story, and it's gonna continue to accelerate. Our strategies we are have communicated and will continue to execute, and which we'll talk more about today, is very clear. On the manufacturing, you know, we are in the qualification phase. We are moving out of the R&D phase. We have already won in sort of LRIP program with a defense client that we hope to move into some other early stage production later this year. Of course, it's the scale of production that is the holy grail for us. You know, hopefully we're seeing that we're getting confidence that we are putting together the framework and the foundation for being able to execute on those. Frankly, we do have some competitive advantages. No one else is doing what we're doing in cold spray. We have competitors that are focused on coating and repair, but they don't have the you know the movable machines and the flexibility nor the network, and are not executing in the same way that we're trying to execute on our strategy. On basically the manufacturer side, we are the first mover, and I think by developing the capabilities we're doing in the IPs or multiple knowledge and in the relationships that we have, and they're gonna be very hard to replicate, for anyone else. Our lifeblood, of course, is you, the investors that have funded us so far. We are very aligned. You know, we know we need to develop the delivery on the commercial revenue growth. We have a very, you know, tight focus on and a strong focus on the cash flow. We do believe that the non-dilutive funding will materialize this year, which will also, you know, allow us to accelerate our strategy, but also make sure that we don't have to come back in any shape or form for further equity funding that will dilute our existing shareholders. We're gonna talk a lot today about the road to industrial production. We are no longer proving that cold spray works. We know it works. Our client knows it works, and we are now in the space where we are industrializing it. We have strong partners. NASA on board to validate that technology. That's gonna, you know, be a significant contributor to the acceleration of the commercialization strategy. We have DNV, which will hopefully can, you know, have some success at end of this month. The Department of Defense are definitely engaging with different departments and different stakeholders within the Department of Defense with Jim, Trey, and others in the Titomic sphere. It takes a village to raise a child, as someone said, but it also takes a village to build Titomic. We have a phenomenal team. These are the people that I'm gonna present to you today. You have met Trey. I'm very happy to say, and we're gonna make an announcement today officially on the ASX, that he is moving from an advisor to become a full director on the board. A non-exec director, important contribution. You know, his merit speaks for itself. We are a working board, as you know, which means that everybody is rolling up their sleeves and contributing. Our advisors are also working. You know, they're not just coming for the nice lunch that we have a tendency to serve, but they're actually working hard, and everybody has a very clear purpose when they are on an advisory board. Jim, Andy, Chris, and Walt, you know, are new members to the team over the last two years. They are the leaders. They are the global leadership team. We have Trey who's gonna also be speaking. They're gonna speak shortly about each of their respective businesses and take you through a deep dive on what they're seeing, how they're running their respective verticals. Trey will speak about the golden gun and the implications for Titomic. Andy is gonna speak about, you know, our main strategy and corrosion. Mike is gonna speak about why we're here in Alabama and the benefits of being part of the ecosystem here in Huntsville. Mira's gonna talk about our basic test strategy. We are gonna send out an ASX announcement. The board approved last night the re-domicile decision to the U.S. That is gonna be. We're gonna send out an ASX announcement after this meeting where this will be officially announced. We already have our advisory team being put in place. Both U.S. and Australian counsel. We will be establishing a U.S. holdco later this spring. From a shareholder point of view, the two key gateways we are gonna need basically a shareholder approval to 75% acceptance rate to execute on this. That will take place probably in the third quarter of this year. We need a scheme of arrangement where we need a court approval to approve all the documentation and the process. We are gonna have to change the shares to basically become you know CDIs. We will do a share exchange and probably also then merge our shares so that we will have a higher you know dollar value on the trading component in Australia's stock exchange. Once we have basically executed the re-domicile, we will move on to the U.S. listing, which will take place in 2017. That means that we will continue to trade on Australian Securities Exchange, but our main listing will be on the U.S. Stock Exchange. The main reason why we're doing it is this will actually facilitate and help us with our commercial strategy. The revenue opportunities that we see are very much linked to Department of Defense programs and defense and aerospace related, and on the data side. To be qualified and have a simplified structure where we can execute and move quickly, it really helps to be a U.S.-based company rather than setting up a separate legal structure, which some companies choose to do to not become American. But then they have sort of a parallel board, which doesn't answer to the shareholders, actually. It answers to the, you know, to the regulators here in the U.S. As a company, as a shareholder, you actually risk losing oversight of your U.S. business. We don't want to come in a situation where the shareholders and the board loses oversight and governance of the U.S. business. It's actually also more cost efficient to basically have one clean structure. That's why we are deciding to move to the U.S. It's not an arbitrage opportunity. Of course, the benefits will be that we will have access to deeper pockets of investors, larger capital markets. The, you know, that in itself, you know, that is the commercial aspects of this that is really driving our benefits. Can I just make a suggestion as you- Yeah. Think of this? Make sure that you qualify for the Russell 2000 index. There is, you know, because that will buy 10%-15% off the back of your share. Absolutely. We will be speaking to people in this room about our listing strategy going forward. Bob, thank you. Absolutely. That's Jim. Thanks, Dag. I'm gonna kind of go through. I probably went through a lot of this already in the factory, but kind of go through where we are at in our plan for our five-year plan going forward. Do that. First, I'm gonna show you, without further ado, the long hose strategy. I think I've talked about this. This is. Andy, you're done, or I apologize already. The Department of Defense and it spent $28.6 billion on corrosion resistance and corrosion repair last year. $20.6 billion of it was spent by the Navy. What the Navy has really requested is, you saw all of our machines in the factory today, but what they don't want to do is they don't want to have to take that machine and bring it down into the hull of the submarine or the hull of a frigate. Could you build a hose long enough to enable you to just move the hose down there and still be able to have the efficiency to enable you to be able to spray and get rid of the corrosion in the hull area so that we don't have to go to dry dock and save tremendous amounts of money? With that, here is our long hose strategy. What if you could repair critical components without removing them? Introducing Titomic's TKF 623 long hose system. With up to 20 meters of reach, long hose technology brings Titomic Kinetic Fusion power directly to the repair site, addressing the Department of Defense's $28.6 billion annual corrosion resistance and repair issue. Submarines, frigates, and more. Repair corrosion, restore readiness, and return to service. Minimize downtime. Maximize production. Titomic. That is huge. Literally, this was done by the team over the last two to three months. We're submitting a proposal here very shortly to the Navy. Basically, they gave us 11 use cases. Of those 11, we could work on nine of those. We're submitting. We're quite excited about this. Andy's gonna go and tell us about that in a lot more detail. Oops. Okay. Because apparently I really do like videos because that makes me not talk so much. This one, I think that what you're gonna appreciate here is we talked a bit about the through-hole issue. We talked about the issues when we're in the field. This actually goes through how we do it. When critical equipment fails, replacing parts can take weeks. Titomic Kinetic Fusion Through Hole Repair restores damaged components in hours, not months. It can be performed directly in the field, even when there's no access to the backside of the hole. Using Titomic Kinetic Fusion cold spray technology, we rebuild worn or damaged through holes without heat distortion, welding, or replacing the entire part. That means strong repairs, minimal downtime, and major cost savings. Repair smarter. Extend asset life. Titomic. I don't know if you noticed, but that was not speeded up relative to how that hole was fixed and how long did that take, maybe 10 seconds, 15 seconds. When we talk about 15 minutes, that's a lot of time to be able to repair these types of damages. Again, that's kind of just to let you know the different variations of things that we can do. Where are we at? One of the things that I am asked all the time, in fact, every day, is when are we going to get to production and where are we at in the process? Because there's been a tendency to be in a constant research and development mode. This timeframe, this is the transition year. We're already moving forward in qualification relative to the leading edge. We're getting an opportunity with Northrop Grumman to validate an existing part that we can be moving into qualification. We just submitted a proposal that we'll be getting information on here shortly that will put us into production. These are three major companies that we're doing this activity with, all of them moving forward, all of them wanting to be involved with cold spray activities. This is our transition year. This is the year we move from research development to qualification to start moving into the various, the incipient phase of production. 2027 is our big year. A lot of this is going to be emerging. 2026 is where we go through the qualification and make sure that we can move forward to that next phase. This is an enormous year, the transition year for us. I think that one of the things, when we talk to the investors, a lot of the question is, well, Jim, you have this huge, I'll say hockey stick effect by the 2030 timeframe. Why is that happening? This is what you're starting to see. This is where we should be starting to move forward this year is that R&D, we get funding in the half a million to million range. Qualification, $2 million-$6 million range or maybe higher. Then we go into low-rate initial production. That's in the $5 million -$20 million, maybe a little bit higher than that. Then when we go into production, it's in the $10 to as much as $50 to $100 million range. We're trying to move as fast as we can through that. Yes. You're saying that a lot of that's up front. You come into full production and they'll go this, your material cost or. Yeah. Full size. Keep in mind, everything I talked about in the factory, we talked about how do we make sure that we're competitive? Yeah. How do we make sure that we understand the materials? All of that we've been working on. All of this, by the way, Dag Stromme talked about the NASA Space Act. Dag Stromme talked about the DNV, which is oil and gas certification process, which by the way, we'll be announcing at the end of this month that we have been endorsed by that. We are certified in oil and gas. The AS9100 activity, which is certification of our factory for government applications, we passed that already. I'm sorry, Patti Dare, I stole your thing, but she's going to show you the certificate. We've also got the Department of Defense's manufacturer technology certificate. All of that enables us to go to the next step. Yeah. Okay? The other aspect, well, first because I can steal everybody's stuff. Trey is going to talk a bit about what's going on as far as Golden Dome, what's going on as far as actually the world of defense right now. The whole environment is to accelerate, accelerate. The activities that we do enable acceleration, but only when we're certified for production. We talked about the different revenue anchors. We talked about production of pressure vessels. We've talked about the sustainment and repair. That's the corrosion activities. Then the strategic programs, how do we make sure that we're on key programs of record? That is the real name of the game. Five years, as we talked about, we talked about AS, we talked about all these, the TKF 3250R you saw be ready up in mid-April. Our powder activities, we talked about how we manage those, trying to get the cost down on that, trying to get our efficiency, our yield rate up. 85%, by the way, is basic for most of powder additive manufacturing. It is really material dependent, but that's our objective and goal. Statistically to make sure that we can do all of our quality assurance and acceptance. With that, we're going to be able to achieve the financial pathway that we've shown. Talked about it all. At the end, we're in the transition point. We're in the qualification gates area. Production for scale starts in 2027, maybe at the very end of 2026. This is where we want to be. The financial outcome, 50% revenues. You know, et cetera. This is, I'm sorry. 60% of our revenue is recurring. What we mean by that is that we have sustainable businesses that go for five or six years. Multi-primes, that's another goal. We've been talking about that, and it's what we've been doing as far as achieving contracts with multiple different primes. Any questions? Well, with that, first of all, let's welcome Trey to the family. I know you all are part of the Senior Advisory Group, but we are really delighted to have you as part of the board, and we look forward to that. Well, thank you. I have to like bump things, so bear with me. Too much walking. First of all, I want you to imagine what's going on in the world right now with the Iranian war if there was no missile defense, none whatsoever. Just think about what the difference with the outcomes that we would see in that region. Thank God, over the last three decades, the Missile Defense Agency, which is right up the road, which I used to lead, we've developed those capabilities that you see in operation. They are somewhat fragile in terms of what they were originally designed for and what we're facing for the future. The strategic defense environment has changed fundamentally, and I think it's never gonna go back in terms of where we used to be and are going. The United States and our allies are facing a world where ballistic missiles and cruise missiles and drones are the air forces of choice of a lot of our adversaries. We're facing hypersonic weapons for the first time, long-range strike systems that are proliferating rapidly, and we have to be able to address those. This is a look between 2015 and 2035 of global missile production versus the Western manufacturing capacity. The gap is not in the technology, it's in the industrial capability and in the industrial supply chain, especially the suppliers to these interceptors and these systems. The fact is that right now the strategic defense demand is far outpacing our production infrastructure. We know that. The conflicts in Ukraine and the Middle East have demonstrated that missile inventories can be consumed at an extraordinary rate. I think, Mira found a number yesterday that said that what? The first two days. Five days. Of the Iranian war, we went through $5 billion worth of missile inventories. That's one reason why when President Trump came into office, he started the whole Dome architecture. Sometime we're gonna tell you the whole rest of the story behind that. Initially, he saw what was happening in Israel, and he saw the operation of Iron Dome. He saw what was happening with the Iranian use of the missile against Israel. He also became aware of what we can actually do from space. Right now, for those of you who don't know, we only have about 44 long-range interceptors in the ground in Alaska and California that can handle an ICBM type of attack, and they're primarily geared for North Korea and Iran. That's changing because with the nuclear saber-rattling of Putin in Ukraine, with the urgency and aggressiveness of China, and some of the strategies that we've seen their militaries begin to take, he realized that we had to have a much more robust defense, and that's what we're heading into. I'm actually an advisor to General Guetlein, Mike Guetlein. He used to work at the Missile Defense Agency. He's now the four-star responsible for the entire effort. He has all the powers I had, meaning that he's exempt from a lot of the normal traditional defense acquisition regulations. He's exempt from our financial management regulations. He's exempt from the requirements process. He can reach out to any government agency and get what he needs in terms of resources. He's got that kind. He wields that kind of a lot of leverage. It's an extremely high priority by this administration. By the time I stay on the Hill, it's also becoming more and more bipartisan in terms of the support that we're seeing based on the real-world threats that we're seeing. Programs like Iron Dome. You know, we talk about having to replenish the inventory we're seeing get consumed right now in Iran and Ukraine. On top of that, we're gonna have a Golden Dome architecture that's gonna be able to protect us against the Russian and the Chinese threats of the United States and eventually our allies. That's all coming together to where we're gonna see a multi-decade industrial-based challenge. What this effort means is that we're gonna end up having hundreds and hundreds of missiles and thousands of space-based interceptors, for example, to deal with the communist threat. Compare that to today we have about 600 PAC-3s that we produced, about 380 GBI interceptors, about 400 SM-3 interceptors. You see the kind of ramp that we're gonna have to have as we go into the future. Again, the bottlenecks that we see are typically as you see here, what the constraint is, whether it's material mills or whether it's casting or forging, machining or the thermal structures. There's a lot of specialty alloys and long lead time is the issue with these. The bottleneck materials are special alloys. Long lead time is the issue with forging. High scrap and low yield rates are the problem for machining. Thermal structures require very complex certifications. All those have a downside to it. Historically, missile and interceptor production has not been constrained, like I said before, by engineering design or technology, but by the materials, the metallurgy, and the production throughput. Critical components such as high temperature structures for propulsion hardware and complex metallic assemblies require manufacturing processes that are very difficult to scale. This is where Titomic's Kinetic Fusion cold spray becomes very strategically relevant for our ability to defend ourselves and to replenish a lot of our missile inventories as well. You can see the lead time reduction that you're seeing there, less machining and distributed manufacturing that will be available through this new type of process. The importance of these characteristics grow initially as these missile defense architectures grow. Like I said, I don't think we're going back. Rather than a single program opportunity, the Titomic technology, what they offer is a broader capability that can fit across the entire industrial base for missile defense interceptor production. It's not dependent on one particular program like Ground-Based Interceptor or whatever. I think that they are very, very well positioned to take advantage of this huge ramp that you're gonna be seeing. We haven't even begun spending the money in build or buy yet. We've got it approved, but we haven't started releasing it yet. That would be this year, and you'll start to see that ramp up. Missile defense, hypersonic, and strategic deterrence will require new manufacturing infrastructure and technologies that can accelerate metal production timelines from weeks to days and from days to hours. That will become, I think, a critical enabler of this expansion. Titomic is positioning itself as one of these enabling technologies. I think that the timing for Titomic is very good, and I think that all of these things that are coming together at this moment for the future, they are not temporary. They're gonna be here for a while. Thank you very much. Thank you. One of the things kind of cross-topping what Trey said is that we've actually been asked by Repkon to start to look at could we build armaments. We're actually looking at a path to how we can build 30,000 armaments per year. That's kind of what we're seeing as far as the acceleration and looking at different things to do. With that, Andy, if you could join us. Andy is part of our senior advisory group, was the leading civilian in the Navy and we are absolutely ecstatic to have him with us. Thank you. I was afraid there for a minute that Jim was gonna do my whole brief. I'd just get up here and say ditto. As Jim indicated, a couple of my last jobs were, I was Chief of Staff to Secretary of the Navy, and then I was, Director of the Navy Staff for the Chief of Naval Operations. Always one of the top issues was ship maintenance. Anytime we were preparing for testimony, it was never fun because you knew it was gonna be getting thrown into the wood chipper. There was never any good news stories in there. One of my old bosses, Vice Chief of Naval Operations, says, "We've been at this for 20 years with negligible improvement." Over 20 years. It has been that big of a challenge. It is that big of a challenge. One of the most ongoing and expensive challenges facing the Navy is corrosion and structural degradation of ships and submarines. Another dynamic that's been added to this, another accelerator, is our President is not happy with the looks of our naval ships, and he calls them rust buckets, and that's not a term of endearment. You can imagine when the president is out there and he sees one of these ships, and then the SECNAV, it's the Secretary of the Navy, gets a phone call, who then he calls the Chief of Naval Operations, who then calls his senior leadership, and there's a lot of accelerating. Get them about it. Get after this problem. As Jim indicated, last year alone, the Navy spent over $20 billion on corrosion repair and mitigation across the fleet. It's not just a maintenance issue. It's also a fleet readiness issue. Corrosion drives the extended dry dock availability, schedule unpredictability, budget overruns, again, another huge problem for the Navy, and reduced operational availability. Submarines can spend 10-60 additional dry dock days due to corrosion growth work. Surface combatants can add 15-80 additional days due to corrosion work. These delays cascade across the Navy's maintenance planning, wreak havoc on limited resources, and cause enormous problems. Navy ships are normally in one of three phases. They're operationally deployed like you're seeing today, and they're running hard, or they're in prep to deploy and workups and doing training, or they're in maintenance. Those are the three phases that they're gonna be in. Anytime you get disruptions to one of those three phases, a job you wouldn't want in the Navy is what they call the operational force management planners. They've got the five-year plan that's laying out ship availability and when it's in one of those cycles and how you get the destroyer groups and the carrier battle groups ready to deploy and ships that are part of that and getting them out on time. Then how do you start getting the next folks on deck ready to go, and then how do you run that maintenance cycle? The maintenance cycle, not that we haven't had problems on the deployment side because oftentimes one of the best lies in the Navy is you're gonna be deployed for seven months, and then you come back eleven months later. These cause problems, but the maintenance phase is the one that's really gonna eat our lunch. Again, limited dry dock resources. When you get these ships tied into dry dock, and they don't come out on time, it just cascades back. It causes all kinds of problems. Cold spray technology offers a fundamentally different approach. Rather than replacing components or performing structural rebuilds, cold spray can restore material directly to the damaged material. This enables pier-side repairs, which again is a huge enabler, reduced drydock times, which you normally don't hear, but that is another very important piece, and then predictable maintenance schedules. Another really important aspect that oftentimes gets overlooked too with cold spray is it eliminates hot work. That is another major headache for repair folks and ship commanders. Anytime you're doing hot work on a ship, fire on a ship is not a good thing, okay? That's why every crew member on a ship is a firefighter as an additional duty. Anytime you're doing hot work, there's all kinds of procedures that got to put in place for the compartments where it's gonna be done. It's resource intensive and it's safety intensive. If you can eliminate that hot work, it really reduces a lot of headaches, particularly for the folks trying to manage the squadron. As Jim indicated, we recently met with the Navy's anti-corrosion group. We met with them a couple weeks ago. They identified 11 use cases where this technology could apply. We came back with, we provided a proposal that shows that 90% of this we can address with cold spray. Let me see if I can do this without goofing it up. As you look there on the pie chart, you'll see the areas that can be covered, the flight decks, the ship hull structures, surface and submarine, but also down internally on ships too, which again, this focus is gonna be a really, force multiplier for us. If you look at the center picture there, what you're seeing is the rust coming down from the life-saving cradles. That's what also contributes to running rust, and that's what also contributes to the president's angst when he sees these ships running around with that. It's not just these lifeboat cradles, but it's also the scuppers and the other water discharges they've gone out. We see a lot of times these ships have got that running rust almost from front to rear on. That's a main area that we can assist with. Top right is the capstan there, and you can see the surface rust on that. The middle picture, the bridge windows, that's another big problem for them. We're confident we can help address that problem with them. The bottom right picture, as you can see where the anchor lock C2 and the running rust that comes out of that, which is also again, as I mentioned, a lot problematic for all the scuppers around the ship. We're confident that there's a lot of areas that we can help them with, particularly this external rust. It's not just the external rust, it's also the internal components, and this is gonna be another big force multiplier for them. Being able to get in there and get this corrosion off, and a lot of times if there's other damage to it, then they've got to pull the part out, and depending on what the part is, and particularly on some of these older vessels, you can get into some very long lead times, and then trying to get these things fixed. We believe that we can repair a lot of these on the spot with the cold spray technology. How long does the repaired part last? The repairs? For the structural repairs, we're going right now off of what we've done with the. Once you cold spray, how long does it extend the life? We think 13+ years now. That's going off what we've done with the oil and gas industry. As we get into it, we'll confirm that, but that's what we think right now. Just the example, there from Irene, does that mean it's the sandblasted off first before the cold spray is applied, or does the cold spray go straight onto the? Typically what we do is we clean grit blast before, or what we have is a technique where we actually introduce ceramics into the aluminum, and the ceramics actually act as a grit blast while we're spraying it, which reduces one full phase of the preparation. Both ways are approached. The next step for this is a collaborative demonstration to validate the long-term performance. Once we get this proposal to them, we'll be ready to move out. We're offering up a 12-month program for them to get through, well, all of these test cases that they've asked us to take a look at. As I've mentioned this morning, we're also gonna be heading out to Hawaii in May to go out there and show some capabilities on that. We're out there getting folks smart on cold spray. Again, if we can confirm 15+ years, that's potentially gonna save $ millions for a ship over its life cycle. Improving sustainment economics is central to this effort. Technologies that reduce downtime and maintenance costs will increasingly be important. As we laid out here, if you look at the reduction times on that, again, dry dock, and this is really important, those reduction in days that we talked about. As you look at the life cycle and the maintenance cost reductions on that, again, we believe this is gonna be very significant. For investors, this creates a major opportunity for Titomic. Not just production manufacturing, but recurring sustainment revenue tied to fleet maintenance. This type of revenue tends to be stable, repeatable, and margin resilient. The president has laid out a very aggressive Navy strategy to not only rebuild our Navy, but to make our Navy a lot larger here, and they are working on that as we speak. At the same time, we also published a maritime action plan that's looking at the broader, shipbuilding capabilities within the United States, as well as looking at all of the maritime industrial base. That policy just came out last month, so they're working now on turning that into an execution strategy, but there are resources already being put against it. As been indicated by a couple of folks, if there's ever a wrong time, this is it. Thank you. Michael Kirkpatrick is coming up. First of all, Michael is an eighth-generation Alabamian. He is absolutely astute on all local, state, and federal politics. He also heads one of the leading systems engineering firms, and the most important thing is I consider him a friend. Thank you very much. Welcome, Michael. Welcome. I almost didn't have a seat placard. You bet. Welcome to Huntsville, and welcome back to Huntsville. Now, Huntsville's motto is a smart place, and it is. Titomic made a very smart strategic decision to locate their headquarters in Huntsville. Huntsville is second in federal funding in the entire United States, second only to Washington, D.C. It is the center of gravity for R&D for much of the military programs in the United States, so I'm happy to tell you a little bit about that. Right near us, we have the technical workforce headquarters for the Missile Defense Agency. We have Space Command headquarters that moved here in 2025. We've got NASA's Marshall Space Flight Center. We've got the Development Command headquarters for aviation and missile systems, and we have Redstone Arsenal, which has over 66 clients on it. This is a unique ecosystem and environment for technology development, system integration, and program management. Titomic is directly inserted into this community and is building a strong brand here, so it's a very good place to be. Huntsville is a key part of the domestic manufacturing base for Department of Defense. The culture of Huntsville includes deep technical expertise, strong defense programs, and a strong history of collaboration with industry, government, and universities. It is a special place. We start with emerging technologies, concepts, and move them forward to deployment. What you have by being here is key advantages, direct access to program management offices, engineering integration with the primes, and industrial-based credibility. The political culture in Washington, they always want to bring their colleagues to Huntsville, so they see what's going on here. I was talking with Adam Smith last week, who is the Ranking Member on Armed Services, working with Mike Rogers from Alabama, who's Chairman of Armed Services, and he said, "I want to come back to Huntsville because there are still things going on there that I haven't seen." When the congressional members come to Huntsville, they are wowed, and it makes it easy for the Alabama delegation to go to them and say, "We can do this in Huntsville. We've got extreme credibility." Now I'm gonna tell you a little bit about the history of Huntsville and of innovation. You know, the right place to start with history is the beginning. Huntsville is where they held the constitutional convention for Alabama to become a state. That was in 1819. It had become an economic powerhouse because all of the major planters from the colonies and on the eastern shore of Virginia, Georgia, were looking for fresh land. This land opened up, and they rushed in because this was great cotton land, because it's a large river valley system, and you could produce cotton for about $0.10 a pound, and you could sell it for about $1 a pound because of the Industrial Revolution that was going on in Europe. There was a tremendous amount of wealth that was created in Huntsville. If you have a chance to go downtown, there is a replica of what Huntsville looked like when they had the constitutional convention here in 1819. That cotton wealth created a lot of beautiful homes and mansions downtown that you can walk through and see, so beautiful downtown. Now we move along, cotton is king, everybody's getting rich. The Civil War comes. Huntsville votes against secession. They said, "You know, we got a good thing going here. This is not in our interest." The whole state went, so they went with them. Huntsville was occupied by Union forces in 1862, and because we had voted against secession, there was always friendly relations between the occupiers and the civilians, and that's why there were no homes that were burned or buildings in downtown Huntsville. That's why we have a good historic history. We move forward, and then we become a technology center. Now how did that start? Well, they brought the German rocket team under von Braun from Germany after World War II to Fort Bliss, Texas. If you've ever been to West Texas, it doesn't look anything like Germany. They had a big missile test range out there, White Sands Missile Range. They brought about 150 V2 rockets, V1 rockets, and they could test them out there. Well, Redstone Arsenal had been built in 1945 to build munitions for World War II. The war was over. We had 60,000 acres and not much going on there, so they were going to sell Redstone Arsenal. The leaders under Senator Sparkman said, "We've got to save Redstone Arsenal." The number one defense project in 1949 was the Arnold Engineering Development Complex, which was a jet wind tunnel, and jets were what were coming on. Huntsville competed for that project and lost. It seems like the senior senator from Tennessee was chairman of the Appropriations Committee, and they chose Tennessee for that project. I don't know how that happened, but that's what happened. The senators all said, "We got to take care of our friend John Sparkman in Huntsville." They said, "Let's give them the German rocket team as the emergency backup prize." They brought them here, started doing a rocket development for the Army. They were kind of on ice here for about a decade. They arrived in 1950, and then Sputnik happens. Okay, Sputnik is launched. The Secretary of Defense is in Huntsville having dinner with community leaders. Von Braun is there. He says, "Sir, when you get back to Washington, D.C., you're gonna find out all hell has broken loose with Sputnik's launch." When the Secretary of Defense got back, he said, "Von Braun was right." President Eisenhower decided to use a civilian rocket program based upon the Vanguard rocket to launch the U.S. first satellite in response to Sputnik. It failed. They tried it with von Braun up there, who said, "We can put a satellite in space in 60 days." His boss, General Medaris, said, "Better make it 90." They launched Explorer 1, U.S. first satellite, 90 days to the day after Sputnik was launched. That led to the space race. Huntsville had the kernel of infrastructure here to support the race to the moon, which was a key component of the Cold War. You'll see the next chart here with a dot is the space race with the Saturn V. 1969, we land on the moon. What happens in the 1970s and 1980s is an expansion of Huntsville in military weapons systems. Part of what happened there was the development of hit-to-kill missile interceptors that are now managed by Missile Defense Agency, formerly under Henry Obering III's leadership. All the U.S. missile interceptors that you're seeing launched now are based upon this hit-to-kill technology. There's not an exploding warhead. They are so precise that they can hit the warhead, and the kinetic energy destroys them. For the 44 interceptors that Trey Obering talked about, those are traveling at a 20,000 mile per hour closing speed. The warhead, nuclear warhead, is about the size of this podium, and they can hit that with the interceptor any place they want within the size of a quarter, and the kinetic energy just vaporizes it. That technology was developed in Huntsville. In the 1990s and 2000s, space station. We got space station orbiting us right now. We've got six astronauts up there. Huntsville starts to grow in biotech. The HudsonAlpha Institute for Biotechnology is founded in Huntsville. Now that's a whole industry, and it has recently led to the largest economic development project in the history of the state of Alabama. Eli Lilly and Company announced in December that they are building a $6 billion facility here in Huntsville. Expansion of diversification of the economy. 2010s and 2020s, innovative space applications, space launch system, which is the Artemis program, which is scheduled to launch at the beginning of April. Now, you may have been following that some in the news with some valve issues that they had and diversification of the U.S. economy or the local economy. Okay. Huntsville is a smart place, and we are number one concentration per capita of engineers in the United States. Highest concentration of non-medical PhDs per capita. The highest per capita income in the Southeast. Number three in STEM workers. We're number four in software developers concentration. We've got five universities in the area granting 6,000 degrees a year. Seven colleges with over 10,000 degrees per year. We've got 30,000 college students that are up here in the education processes, and it's been consistently rated one of the top places in the United States to live. It's easy for us to draw people, steal the technical talent from around the country because we have such a high quality of life here. It really is an epicenter for technology and the perfect environment for Titomic to thrive and to bring the people that they need to be here. $95 billion of defense contracts go through Huntsville every year. As I said, second federal funding, second only to Washington, D.C. We've got a great strategic location, close to Nashville, close to Birmingham, good interstates, good rail access. We have a port in Huntsville. Now, that's on the Tennessee River, which connects down through the river systems to Mobile Bay. Mobile has a giant port. They ship all over the world. It's the fourth largest port in the United States, and it's direct access to, like, Latin America, Central America, and it's the second closest port to the exit of the Panama Canal. We've got Huntsville International Airport, which is also a port of entry, as many of you may know, from anywhere in the world, including a customs department. On Redstone Arsenal, they have over 45,000 people that go to work there every day. Research Park, which is adjacent to Redstone, 26,000 workers working in Research Park. That's where my company headquarters is. There's over 300 companies here, and it's the second largest research park in the United States, so it's second only to Research Triangle in North Carolina in land size. 60 years of innovation, growing biotech space, commercial biotech industry here. Let's just go through some of the major programs that are here. United States Space Command, Golden Dome, centerpiece of the defense agenda for President Trump. Major funding is going through that system. They used a supplemental program to put $25 billion in that out of the gate, year one. That money is about to be released. Mike Rogers from Alabama, who's Chairman of the House Armed Services Committee, said, "Let's make sure we get the plan right before we release the money." That's what's been holding it up. They've been going through the system with a committee staff, working with the leadership to make sure that they get everything right. Now, it's going into double overdrive because the president has said, "Release all the money now and get it under contract." There's a big push to get that out. To give you some context of the size of that budget, it's equal to NASA's budget, and NASA has been in business for 60 years. That budget has grown up over time. This is right out of the hole shot, $25 billion for Golden Dome and more money that's scheduled for this year. I was talking to our local congressman last week in D.C., Dale Strong, and he said, "Hey, Michael, Mike Rogers and I were in talking with President Trump, and we were getting ready to leave." He said, "I don't know if you guys know it, but you're getting even a bigger share of the Golden Dome pie than you thought you were." They walked out the door, and Mike Rogers said to Dale Strong, "What'd he say?" He says, "You're getting a bigger piece of the pie." We don't know exactly what that means. Trey, I'm sure, has better insight into that, but that's just a little story that came from last week. SDA, that is the group that works for Space Force that purchases everything that they need. There is a southern division here buying the space products for Space Force. There's a lot of innovation going on there, a lot of satellites that are being developed for surveillance today that's gonna orbit the country, so you can be able to see hypersonic missiles, 'cause you've got to be able to see a maneuvering hypersonic before you can shoot it. That's a high priority. That contracting demand being here brings a lot of money to town. Missile Defense Agency, we've got the ICBM interceptors that we've talked about and emerging hypersonic defense. NASA, space station, space launch, Space Launch System, which is rolling back out to the pad for a launch in April. The human lander system, now there are two competitions there. There are two competitors. There's Blue Origin, and there's SpaceX, and I'm currently working on the Blue Origin human lander system. That's being accelerated also because we wanna land back on the moon before the Chinese. The goal is to do that before 2030. Artemis is the entire program of the return to the moon program. Program executive offices for fires, they do the interceptors, the radars, the lasers, the missiles, the hypersonics. All those kinetic energy missiles that you're seeing in the Middle East fired right now are managed out of Huntsville. Program executive office for air, that's the helicopters and the UAVs and the drones that we're having. There's a lot of other work going on here in science, technology, fires, air, and cyber and AI research. In addition to that, we've got the FBI tech center here that has 5,000 people here. They moved their science and technology headquarters to Huntsville. We've got all the major players here. Here's an example of what we just talked through. All of the big defense primes are here, and they're all getting the message from the administration, "Go fast." Money is not an object. The key is production and speed and replenishing the quiver. There's a lot of push from the top and innovative capabilities to shrink time better, cheaper, faster that Titomic can do is what's gonna be in demand. Okay, this is really the way that everybody gets qualified, and this is a specific program that is headquartered or focused on AUKUS. I'm sure you're all very familiar with AUKUS. Well, Congressman Robert Aderholt, who has the district right adjacent to Huntsville, many of his constituents work in Huntsville, is a big AUKUS fan. Every year he has an AUKUS meeting here to get the defense industry engaged. You guys are in the perfect position as an Australian company working AUKUS in the U.S., and there's strong congressional support for that. Thank you very much. I'm so happy to have you in Huntsville, my hometown. It's hard to believe we started with an initial team of three. Sarah and I didn't believe this technology worked either, so we went to Australia, and we actually got to spray while we were in Australia, and that made us true believers as well. If you're not believers yet, I can't believe it, we'll get you in a spray booth immediately, and you'll start spraying. We'll put you to work. Jim and I also had some congressional visits right off the bat in end of 2024, as well as a lot of Huntsville events and chamber events. You name it, we were out there trying to get the word out even before we even had the facility up and available. We had lots of challenges along the way, working with Trash Pandas Stadium in a conference room there, or at the AC Hotel, or at our homes, or wherever we could find space. That's where we were gathering to figure out what's the next step and how are we gonna get this operation up and running. It's hard to believe it's been a year and all that's happened, and it continues to happen every week. Jim goes on a trip, and we start doing all these things at the factory. He comes back and he goes, "When did that happen? Why did you do that? When did you do that?" It's exciting times for the whole team here. We're growing quickly. We've grown to about 35 people now, and we plan to be about 50 by the end of the year and keep growing. It's great news for all of us that are working at the facility and seeing all the changes, and thanks for all your support because we couldn't have done it without you. We did get a Northrop Grumman contract even before the facility was open, which was a big deal for us too. It was interesting. Northrop Grumman lost their funding. They were getting ready to fund us, and they said, "Oh, our funding got pulled." We went and met with another division of Northrop Grumman that said, "Hey, we have funding in the supply chain, but we can't use it because we don't have any projects to do." It's like, "Hey, wait a second. We got a project. We can work this." That's how the hot wire came about, from doing that project. We got our initial operational capability here June 2nd. A lot of you were here for the ribbon cutting. We went through that, and we were barely operational at that point. We did have a low, medium, and high-pressure machine, but we didn't have a lot else in the facility. You can see from here today it's changed a lot. We're continuing to change. We're on the road now with our truck and trailer. We did that September 25. Rich Choppa came to us and said, "Hey, we've got this group. They can't travel to Huntsville. Is there any way we can take it back to them?" It's like, "Well, let's think for a weekend. Yes, we can, and we will get on the road." That's what we did. We got the truck and trailer and loaded up the system, got on the road with the Army Corps of Engineers, and we have about 20-25 people that were actually there that actually learned how to spray that day, and they were very excited, and we hope to get a project with them by the end of the year. We did the Northrop Grumman between Australia and here and building those parts, and we did have the hot fire and, as the customer said, and I know you guys are probably sick of hearing it, but it was flawless. They took two of our titanium pressure vessels with a thruster that had the stainless steel and the copper overlay, and they hot-fired both of them, and they went for the full duration, and they couldn't believe how successful that test was. We do have about three other projects lined up with them. They're waiting for their funding to come in, so as soon as that happens, we'll be up and running on those projects as well. We did get another major prime contract that we can't talk a lot about, but I know you guys know what is going on, and they're spraying the factory today. Fingers crossed. That's our first pathfinder for that effort. That will be up and running pretty quickly too. We're so excited about that. Amaro's really supporting us on a lot of those powder activities and doing some very unique things that have never been done before. That continues to progress all these different unique things that we're doing here. Never been done before. It's amazing for the team, and it's great challenges for us too. The NASA Space Act we're gonna talk about in the next slide, but that was awarded in February. Also in February, you saw today we've got our machine shop up and running. We've got our labs complete now. We finished AS9100. We do have a certificate to prove that we are now certified for ISO. So that was one of the Boeing criteria that we had to be certified and get a TKF 3250R up and running. So that's the other big project we just proposed back to them and hope to have that in the May, June timeframe. We did have a lobby redesign you didn't get to see today, but it's pretty exciting as well. NASA Space Act, this is a big deal. This is where we can build tests in space. We can get to a higher TRL level. We can really build our credibility. Unlike the primes who just say, "Qualify my little piece here, qualify this piece over here, and we are not sharing the data with anybody." With NASA, we can do those qualifications and certifications, test out our models, do that validity, and then be able to share that across the board. It is a big thing for us to go do. Some of the technical areas that we're working with them, pressure vessels, friction stir welding repairs that they wanna go look at, a lot of radiation coatings that are important for our space environment. In space repairs, that'll be exciting if we can do a vacuum chamber in space, and then we can apply that also for Andy's area for underwater activities. We're really excited about that. Of course, they're also interested in hypersonics, which we have many projects that are associated with hypersonics that we're working. Business impact, yes, we can qualify a lot faster. We can fly in space, go to the International Space Station, do some projects there. This is a path for us to get there quickly for our qualification. Hypersonic market we talked about. Space infrastructure is also important. NASA can also help us produce at scale. They're on board with us, partnered with us. We had our kickoff last week. They're all excited to get started. While we were in that meeting, we came up with about five or six other projects we wanna go do with them. Under the Space Act Agreement, it's an overarching umbrella that we can keep putting more projects on. That's exciting. We don't have to go back and renegotiate or go through an acquisition. We can just go work those projects. I know we talked about some of the major primes. I will say we either have contracts with all of these primes, or we're working that in our pipeline. Our pipeline is pretty large right now. It is to ready for our 2030 activities. We do have a plan to get to the numbers that Jim is saying. We are working that on a daily basis. If you think the team's not busy, they're busy. Not only building the factory, we're out getting contracts. We're figuring out how to do the machines in the Auburn area next and trying to figure out how to lay off all of that, while at the same time expanding the team, getting them trained, going on the road demos, doing tours here every day. There is not a day that goes by that we do not have people coming in the factory to see what we're doing and finding out what's really going on in Huntsville and what is Titomic. The big billboard that's right there off of 565, if you haven't seen it, we get calls all the time about, "What is Titomic? What is this billboard all about, and what are you doing?" Word is spreading quickly. I know you guys think we're not moving fast enough. We're moving fast, but it's a little slow getting the funding, but it's coming. Potential customers too, down from the major primes, we're working with all the ones on that line below with Austal and Anduril. We're working automotive, Denso. Jim mentioned we're working Ursa Major now, so that could be a big opportunity for us. We do have a system at Triton, and they're all building parts OMEC is another big one. They say that our TKF 1000 is a workhorse for them. It's gonna be a workhorse for us too, I promise Jim and team, but they are all using it on a daily basis and telling us what great success they're having. We are building equipment, and we said we're gonna start building the equipment here in the June/July timeframe once Auburn is out of that facility, and we move in there. We'll be doing our own kitting and our own building. A lot of the universities and research institutes are wanting to buy our equipment and are buying our equipment. We're trying to get that equipment in, get them in place, and then that word will spread too across the universities and research centers. We're working with a lot of the government organizations and then also American-Made, Austal, AUKUS. We're working those on a weekly basis. Jim mentioned also the strategic powder suppliers. We have agreements with these people, and we're working the material. Now that our lab is in place, we can do more of that testing. We've got the ovens in place, so we can prepare the powders like they need to be prepared, and we're gonna be doing a lot more research on those powders and have much more powders to distribute across the board to our vendors. This just goes over where we were signing the agreement for the facility. It was quite iffy at the last minute. We thought, "We're not gonna get the facility. What are we gonna do? What are our backup plans?" We did get the facility, thank goodness, and we were able to get up and running pretty quickly. This was the empty facility, and you saw today how full it is and how we're expanding every day. This was another grabbing contract we signed before the facility was even in place. This is one of our- We're not just changing how things are made. We're changing what's possible at mission speed. For all our breakthroughs, this one question lingers. I think I pronounce it like Titomic. Titomic. I say Titomic. Nice. It's Titomic. Titomic. Titomic. Oh, I didn't see you there. It's Titomic, mate. I've heard the variety. Titomic, Tito-mic, Tito-mick, Titomic. No, no. It's Titomic and atomic creating Titomic. We are Titomic, where kinetic innovation meets industrial power. Breakthrough repairs in energy and mining, critical readiness in defense. Flight-grade performance in aerospace and sustainable scale in industrial manufacturing. Unifying sectors, accelerating outcomes, built for your mission. Titomic, advanced manufacturing for every frontier. Not only couldn't we say the company name, we didn't even know how to say cold spray and then explain to people what it was. We've started out from ground zero, learning how to say the name of the company as well as cold spray, and then going out and getting the message across everywhere that we can. We have the ribbon cutting on June 2nd, and then. Titomic, welcome to the Rocket City. Cold spray has come to town, and I'm gonna promise you, this is a start of something special. When Titomic first explored U.S. expansions, I made a commitment. If you choose Huntsville, I'll do everything I can to help you be successful, and I meant every word of it. This right here is gonna make America stronger, but it's also gonna make all of our partners stronger. Your finest days are still ahead. Our finest days are still ahead, and Michael talked about Congressman Strong and how supportive he's been, and the rest of the congressional members here have also been very supportive of us, and we're very grateful. They're helping us expand as well. They're getting the message out for us. Even our banker and Charlene back there are getting the message out for us, so we really appreciate all of the word of mouth getting out there, and the people that are coming to visit, we know that you're out there spreading the word, so thank you. We couldn't have a slide without having Big Bob Gibson. That's Jim's favorite place to eat here in the area. We've taken some of you there, so we have pictures to prove it. Seeing the factory is believing. Seeing the technology in place and seeing what we can really do, it's kinda hard to believe that you can take these very fine powders and make these gigantic parts. People come into the factory, you know, like they said, they come in arms crossed, "Yeah, yeah, we're seeing another company today, another small business. They can solve all the world problems." They go out saying, "Wow, we need to get contracts with you." That's a good thing. This is just part of the Northrop Grumman hot fire you saw some of the parts today, the titanium and the steel with the copper overlay. This was the office space. We built that out for the team in August of 2025, and we're building the space upstairs for the engineers in the back. Once Elmer moves out, we'll have some more office space. This is just the truck and trailer that we take on the road and go spray. Like we said, seeing is believing. Being on the road and letting them actually do the spray, it makes a big difference. It's the hot fire in October 29th of last year. Less than six months. That's all it took for Titomic and a major U.S. aerospace and defense prime to build and test new rocket motor components. It's not just one demo. It's part of a bigger push to qualify next gen materials and processes. Solid rocket innovation, fast. Titomic. We actually did the parts in less than four months, and then it took them a couple months to get ready for their hot fire test that was already planned. We delivered ahead of schedule by a couple months, and then they did the hot fires. Like you said- Less than six. It's flawless execution. We've been to events all around the globe. We do conferences all the time. Sarah did the CRP DefenseTech Accelerator program here in Huntsville to work some additional contracts with the Air Force. We've been working a lot with Repkon. As Jim said, we've been working some ammunition-type projects with them and hope those come to fruition in the near term. Company culture is important. As Michael said, there are so many businesses around town here that people can walk out the door and get another job tomorrow if they want, or even today. We have to make sure that we have that company culture in place. We do a lot of events with the team. We do monthly internal events. We do every couple months, we go do something external together and meet the families and make sure we have a really tight-knit group. This is our U.S. team. You saw the mixed reality goggles today and what they can do. We have a big expansion coming up on that one. Should have that in the next few weeks of how to do digital twins, go inside the submarines or frigates, Andy, and get that environment in place so people can train and make sure they're spraying accurately, and they're not super under every day. You saw the facility before and after. We did do CMMC. I'm supposed to say that for Sarah. We did a lot of work to make sure that we're cyber secure. We have our ISO certification. We have all these different certifications in place, so when these government contracts come in, and they put these stipulations on us that we are ready to go. We are CMMC Level two today, and we plan to potentially have an audit coming up on that to make us even more secure. We are working the DD254 to make sure that we're a classified facility going forward. That will take about a year to get in place, but we're starting that process. The future is bright. We've got all the milestones that we've hit so far. We're at a transition. As Jim said, this is our transition year. This is where we're moving in from qualification into low rate production and then production. Those contracts are starting to come. We've proposed to several different contracts already. We plan on getting those starting in the next month or so. You should see more press releases coming out, and we look forward to your continued support. Thank you very much. One of the things that I'm fortunate to have is Mira Ricardel, who's one of our board members. A dear friend and also a former Boeing person with me that we worked together and lament together as well. In early February, we went to Washington, D.C. There's been a complete culture change in D.C. based on what Trump is aggressively doing to try to promote new businesses like ours. As part of that, we've been talking about Ex-Im Bank, we've been talking about Office of Strategic Capital, and Mira's been integral in all of that activity. With that, Mira. Thank you. Before I kind of talk about those things, I think as a scene setter, we've heard, especially through Patty's presentation about all the changes that have been made, that we are really in the United States at a strategic inflection point. This administration, the Trump administration came in, they realized a lot of supply chains were in China. How do we bring that home? How do we build capacity at home? Why is it we can't build something here? Why are the parts all overseas? You know, so this reversal of dependencies on non-ally partners in particular. We also have things like lowest price technically acceptable. Why? Why do we not put quality first? There's been an entire strategic mindset change, and we're at an inflection point. I think every one of the speakers before talked about it, but a lot of that's also the environment we're in, the competition with China. You see it in the space, you see it in the Arctic, you see it economically. You see them in places like Brazil trying to get critical resources. What the Trump administration has done, they've taken a whole of government approach to reduce dependencies, whether it be on oil and gas, of U.S. production, again, the Chinese supply chain, removing barriers to new entrants. This is the time for innovation. Part of that is the defense industrial base. When you look at the Pentagon, there were a lot of tools at the Pentagon. They weren't always being used in the right way. The Trump administration came out and said, "Well, how do we get innovators to come in and not go through," what you've called, and I think some of us have talked about this before, this valley of death, right? You are an innovator. The big primes may not be incentivized to bring in innovation. You know, how do we change that? Given the need for speed that everyone's talked about, the president has emphasized, the Secretary of War has emphasized, all of these things have converged, and we are at the right place at the right time with the right capabilities. Specifically, there are two avenues for funding that Jim mentioned. One is the Ex-Im Bank, the Export-Import Bank. They have a manufacturing and infrastructure initiative, and strategic financing associated with that. There's also this Office of Strategic Capital, and some of you know a little bit that we started down this path last year. However, the old team wasn't really aligned with what this president and Secretary of War wanted to do. Where are we today? Entirely new team, overseen by a private equity leader who is driving very aggressive processes to assess proposals that have merit in expanding the defense industrial base and bringing critical capabilities for production, for sustainment and maintenance, the problems that Andy Haeuptle talked about. I think there's a fundamental recognition among the senior administration leaders across the board that national security is highly dependent on industrial capacity. You can't separate those out. You need to have supply chain resilience and advanced manufacturing because you cannot do things the way you did them 100 years ago and expect to have the outcomes. This has also been matched by budget resources. Who would have thought three years ago we'd be having a $1.5 trillion defense budget? Now, the processes on the Hill, while there's great alignment with the chairman and ranking on the Armed Services Committee that Michael Kirkpatrick talked about, yet there are also a lot of tensions in the Congress, so there's another need for speed to spend the funding that we have. When the final appropriation for this year happened in January 22nd instead of October 1st, there was another letter to say, "Okay, we gotta really accelerate this." What we have done is aligned our capital strategy as a company to fit directly. Again, those policy priorities this time in this administration are backed with budget resources. Rather than just relying on kind of traditionally the equity raises, right? We are prioritizing a four-stage capital model, and you'll see that here. Government grants, R&D funding to advance core technologies. I mean, we talked about some of those grants like that come from various agencies. The non-dilutive loans, and that's what this Office of Strategic Capital and Ex-Im Bank offer us to expand our capacity. They're looking for things that are concrete. Like, you wanna build more machines, you wanna build more, you know, capabilities. Program revenue, of course, from the defense and aerospace customers that Patty talked about earlier. Then, the production scale. I mean, those are the ways we intend to grow using the levers that we have and using capital from various sources. At this point, we've already submitted the data that these organizations have asked for. Interestingly enough, it's not like you would think typically some hundred-page form that's gonna go through four committees. This is a very streamlined process, and one where it's iterative and where you're talking to decision-makers, and I think that's quite encouraging. I mean, gentlemen, I think you would agree with that. Right now, we're positioned to pursue up to approximately $50 million in non-dilutive financing through Ex-Im's Manufacturing and Infrastructure initiative. That would support the expansion of our capacity, manufacturing capacity, acquisition of additional production equipment, acceleration of export-capable manufacturing programs so that we can build on that growing partnerships with our allies and defense partners. At the same time, we're pursuing Office of Strategic Capital, which has a kind of complementary role. Again, very focused on capacity of the defense industrial base and companies that can provide critical capabilities. The spread of shortfalls, whether it's now or in a few weeks on the munitions front. We've talked about the $5.6 billion that was spent in the first two days of the operation in against Iran. Also, to build up component stocks, to build obsolete parts, and to, again, get back to sustainment efforts and fixing those rust buckets that Andy was talking about. Again, this is a different approach than what we've had in the past, and it's different because we have different resources available. We know that the government is serious about not just responding in a timely fashion, but about the objectives. Then I will just wrap it up and say, okay, I think everyone's gonna go on their tour. Sorry. It's nothing. No. That's okay. I think these are, I think, just very positive indicators of what we can do with a forward-leaning approach. I'll leave it at that. If anyone has any questions on this? I do think that it's really important that we're at a different place than we were even when we opened up the facility. This was not. We didn't have the people in position in some of these jobs that can make these decisions. A lot of this is top-down, which is so interesting, right? The message to the traditional primes is: get with the program, get with the priorities, or you're gonna be overtaken by these up-and-comers, whether it be an Ursa Major who we're, you know, talking to or, I mean, Anduril, that's got a lot of attention. That is the message to the primes, and that gives them the motivation. Sometimes we're like, "Why would they be motivated if they've been doing it the same way?" They're under tremendous pressure. It's only last week that the President called in the heads of these defense primes and said, "You guys better be doing stuff faster, smarter." This time, because we've got budget resources in the Department of Defense, they're not saying, "Just do it cheaper." They're saying, "Do it better, do it faster, and make sure that we have the finest capabilities deployed as soon as possible." I'll leave it at that. Any questions? Yes. Can I just ask, you know, if there is a change, unfortunately, in like the midterm elections? Uh-huh. How can that impact the funding and, you know, are there sort of safety ways of making sure that all these programs can complete? Well, I think one of the things, and I think Trey alluded to this. There is going to be program allocations that are bigger than they used to do before. They used to kind of trickle the money out. Mm-hmm. Now it's like, here's your big chunk. You figure it out. You know what the President and Secretary of War wanna achieve. Got it. Part of it is the allocation, okay? It's a lot of money. I mean, for a company like us, I mean, you know, there's a lot of opportunity. If you happen to be the lead integrator on some major program like what James Chilton ran, like you know, space launch vehicle, whatever that might be, that could be a harder thing. The other thing is that other communities will benefit. Maybe not like Huntsville will, but others will benefit from the revitalization of defense industrial base. Because also so much of the defense industrial base now depends on dual-use technologies, dual-use capabilities. I think it'll be harder to turn that around. Yes, there will be fights on certain things. We'll have other stuff, you know, that will be potentially delayed. I do think that the trajectory is such that, and this is such a huge injection of resources, that I don't think it's going to have the impact a shutdown might have had in the past or a cut. When I was at Boeing, the first year of the Obama administration, we got a $400 million cut to our $1 billion program funding for the fiscal year. We got it in April, and we had to adjust between October. We had to take $400 million out of the program, which meant laying off a lot of people. It was a very difficult time. Now you have kind of the opposite trajectory. Yes, there will still be a lot of divisions in the Congress, yes. Are there so many communities and capabilities that will benefit from this? I don't think that's going to shut things down or slow them down in any significant way. Anyone else? Okay. We'll let you wrap up, Jim. Thanks, Mira. I think one thing that Trey did point out and Mira pointed out as well is that a lot of the activities, Golden Dome, et cetera, are pipelines. There may be some investment there. The other thing quickly is that one of the things that both Mira and I found when we were at XMN and the Office of Strategic Capital, they are trying to help. It's not just give us the financing, but Office of Strategic Capital is actually getting us meetings with critical people in the government to enable our activities to happen. They not only wanna give us the money, but they wanna make sure that we're successful with the money. I think that's a huge change for the win. Look, I know that was a rapid-fire approach. You got to see the factory today. If there are any questions, please give them. We love to have you here and we love to show off the factory. Patt, you know, talks about when Sarah and I were literally in a hotel office area, and that's where our company was. Now we have a 59,000 sq ft factory that's getting fully populated, and we are extraordinarily excited about what's going on. You have Chris Myers video, if you wanna play those for three, two. Please. We'll be happy to that. What do you think? It's up to the team here. Andrew, do you wanna? Yeah. Let's play this. Okay. We have our President of Australia and our President of Europe. Hey, everyone. How are you doing? I'm Chris Myers talking to you here from Europe. Sorry, I can't be with you live since I'll be at Airbus. We're looking very excited about expanding our opportunities with Airbus. Let me just talk a little bit about how Europe is moving from, we call it disciplined expansion. We were doing a lot of R&D before that. Now we're doing disciplined expansion and looking for production contracts, we're very excited about that. This disciplined strategy is gonna allow us to rapidly expand in Europe across the industrial base, not only defense, but also commercial. I'll go through that. As you probably all know, in NATO and the European Union, they're really much accelerating defense spending, obviously in response to some of the geopolitical developments, including the war in Ukraine, as well as building a broader national security across their European landscape, but also making that with industrial capacity and ability for them to do stuff in Europe. They're looking to do a really rapid expansion of production capacity and strengthening their own sovereignty. The manufacturing capacity within the European Union, so they don't have to go outside. That, those two factors really are helpful to us, obviously, here at Titomic Europe. That creates really a strong demand for our technologies that we can accelerate this metal manufacturing, repair capabilities, and coatings, be it on satellites, defense technologies, as well as commercial and oil and gas. All of this aligns directly with the priorities that we are setting. I've recently taken over here in Europe. Our former, the president here is on leave, sabbatical for a while. I'm a former defense executive at Lockheed Martin, a senior executive there, as well as a former naval officer. We've done a lot of industrial R&D development programs, as well as production programs and a variety of industrial supply chains. I'm very excited about being here in Europe. One of the things I wanna do is build credible partnerships across all of our different European allies to make us the cold spray go-to in all of Europe and to get out there and let folks know who we are and what we're doing and to expand that as rapidly as possible. As part of that point, we have a couple of key initiatives underway. One of the things that we're working on here is I'll call it Team Holland, whereas we're the only cold spray company in the Netherlands. We have a wide international footprint, Australia, the United States, as well as Europe. We are impacting more across the defense forum than just Netherlands. I want the Netherlands government to realize that and to help us market that across the world. As part of that, we've hired a strategic partner with Protos, a respected defense consultancy here in the Netherlands, and they specifically work in the Netherlands, Poland, Luxembourg, Belgium, as well as Ukraine, some key markets that we're looking to get into. They have the strategic insight to get into these markets and to advance our capabilities with the key stakeholders across the defense ministry, across the region. We've also strengthened our advisory network. We have a SAG in the U.S., Strategic Advisory Group. We now have one in Europe with Sir Charlie Stickland from the United Kingdom, a former lieutenant general in the Royal Marines, and General Richter, former general in the German army. Both of these gentlemen are helping us with that strategic vision going forward. We are looking to take those networks and expand those across Europe, expand our engagement across Europe as well as the United Kingdom. We've got several commercial and defense pathways that are aggressively emerging. One is I'm positioning the company to become a key offset partner with the U.S. prime contractors. Lockheed Martin just recently won a number of large programs here in the Netherlands as well as Germany, and they're looking for offset partners. We had them at our facility just about two weeks ago on offset arrangements. They were very excited about putting work here in the Netherlands. We're also looking at putting work helping in the U.S. by defining some of those parts under the security agreements and then transferring that technology here to the Netherlands. Those offsets are critical items for the U.S. companies. They have to meet them. The Netherlands is very aggressive at all sites, as is the U.K., so we're gonna be able to help them there. We've gotten work in advanced semiconductor manufacturing. We're engaging with companies such as ASML and VDL, and we've been doing R&D with them. Now we're looking at low-rate initial production applications. We have parts coming in every month, very expensive parts that we're repairing for them and modifying for them. That is very exciting that we're transitioning that now to low-rate initial production. We've also secured some high-key high-pressure systems, and those announcements are coming over the next couple quarters as they become known. Similar to the United States, we've really established a disciplined model that's established the technical credibility, build those relationships with defense stakeholders, and then secure early pilot programs and transition those pilot programs to production. Similar to what we've done with ASML, switching R&D to production, we wanna do the same way across the defense markets. As I said, offsets are one of the key ways to do that. Also within the countries here in Europe now, with all of the regional sensitivities, they wanna do work in Europe. We're gonna engage all of the primes to do that. One of the things, I'm at Airbus right now, that's one of the discussions that we're having to take some of our early work and then expand that and looking for production options with them. We're very excited about this. This is not a speculative market of entry. This is a disciplined market approach. We have a beautiful new facility here in Heerenveen with lots of machines that are getting lots of work now, so we're very excited about that. We're gonna build, build on this success, but do it in a disciplined fashion across Europe with our NATO priorities, our EU partners, and to make Titomic the go-to cold spray activity for all of Europe, and to get the Netherlands stakeholders to help us do that. We're very excited about moving forward. Thank you. In case it wasn't obvious, Chris is excited. He should be. I've got to tell you, since he's been there, it's been less than three months, and I will tell you that it's been fantastic the amount of change we've seen. Let's see if I can do this. Hey, everyone. Next steps. Aude Vignelles has joined us from. She's our Australian and Pacific president. She came from Australian Space Agency, where she was the Chief Technology Officer. She has a wide background in space and aerospace, and we've really been excited about having her in Australia. With that. Australia has become an increasingly important center for defense innovation and industrial capability development, particularly now as allied nations seek to strengthen sovereign manufacturing capacity and expand collaboration across the Indo-Pacific region. For Titomic, the APAC region, and Australia in particular, serves as a strategic hub for developing and validating advanced manufacturing applications that can later scale globally. Australia has several unique advantages, and Titomic's APAC activities are focused on advancing several high-impact programs that demonstrate the versatility and industrial potential of cold spray technology. First is the Government Guided Weapon and Explosive Ordnance Initiative, also known as GWEOI, to build a sovereign capability to manufacture and sustain guided weapons and munitions in Australia. This program explores how cold spray can produce advanced materials for armor systems, structural components, barrels, casings, as well as repairs and coatings for military equipment. Second is the maritime sector. Titomic is collaborating with the Royal Australian Navy on several initiatives focused on submarine corrosion repair and sustainment. This work reflects the growing importance of cold spray as a method for extending the operational lifetime of naval assets while reducing maintenance costs, and aligns with broader capability development under the AUKUS program. Titomic is also actively working with the Australian Submarine Agency, Austal and the broader industrial ecosystem to explore the establishment of a center of excellence for additive manufacturing to support AUKUS. Next is the energy sector. Titomic has been actively engaged with leading local energy operators to demonstrate cold spray solution for corrosion repair and infrastructure maintenance in offshore energy environments. The results are compelling. As cold spray enables repairs to be carried out while operations continue. In the semiconductor domain, the APAC region continued to support Titomic industrial partnerships with advanced manufacturing leaders as this relationship transitioned towards production-oriented activities. Finally, the space sector. Application of cold spray in propulsion systems, launch vehicle structures, thermal management in orbit and during hypersonic reentry, as well as radiation shielding, are steadily increasing in readiness, with some application already demonstrated in orbit. Australia is also supporting industrial expansion through funding mechanisms such as the National Reconstruction Fund, the NRF, which is designed to accelerate advanced manufacturing capability across the nation. Titomic is actively exploring opportunities aligned with this initiative. Taken together, these initiatives illustrate how the APAC region functions as a development and validation platform for emerging cold spray technologies. Successful program in Australia can then scale across Titomic's global footprint in Europe and in the United States. The APAC region is not simply a geographic market. It is an innovation engine that helps create the technologies, applications, partnerships, and demonstration programs that drives Titomic global growth. Now you've heard from all three of our presidents. I think at this point, I believe we're actually done. First of all, I wanna thank you all for coming and spending the time with us. I think that you know, one of those things that you know, we I think we all have been pushing is that seeing is believing when it comes to our system, and you just don't understand it until you see it. I think Patti said it really well is the brain trying to tell people that you got some powder, and all of a sudden it becomes a 220-kilogram pressure vessel for a subsea application. It just doesn't compute. Thank you for joining us. We are incredibly excited about the journey going forward and where we've been. This is the transition year, and we are really excited about it. Thank you.