All right, everyone. Thanks for joining. Hope you all are enjoying the conference. This will be the presentation on Cizzle Brands. Forward-looking statements. Cizzle Brands effectively is a tale of two companies that are co-mingled into one. On one side, we've got the brands business, where we are like a house of brands. We have CWENCH Hydration, HappiEats, Spoken. I'll get into that. We also just recently bought our co-manufacturer. If anybody was familiar with a company called Flow Water, they had a manufacturing business in Aurora, Ontario. It is the largest Tetra Pak manufacturer in North America. We bought that quite literally on Christmas Eve, which was a fun Christmas. Cizzle Brands. This is a snapshot of all the different products that we make. In the center, you'll see CWENCH. That's our hero product. We use that to basically open the market, a lot of the times, the same buyers are buying similar products. We have different categories that sort of feed our core consumer at various stages of the day. If you're thirsty and you're looking for hydration, obviously we've got CWENCH. If you come see me at the booth, I've got the powder sample sticks as well. They're quite good. They just mix with a bottle of water. We also make a Sport Pasta. Again, we make that in Italy. It is protein fortified, it's made with three different types of legumes, and it tastes exactly like white pasta. If anyone has ever had alternative flour pasta, it tastes like you're eating alternative flour pasta. What we try to do here is make a pasta that tastes like you're eating regular pasta. We took it to an Italian restaurant, had the Italian chefs cook it, asked them what they thought, they said, "It's just pasta." I said, "Perfect. That's the only answer I wanted." We make the pasta. We've also got protein snacks for kids that we just launched. No added sugar, none of our products have any added sugar. There's no added sugar. The binder there is dates. It provides 16 g of protein, again, we built this because of the feedback that we would get on the CWENCH side, especially from parents. We do a lot of stuff in athletic divisions, I mean, I'll get into that. A lot of the feedback was coming back when these kids are playing their high-level sport, there's only so many croissants and cookies that the parents are willing to buy for them. They wanted something that they could actually feed them that they would feel good about, hence the reason we created it's been selling phenomenally well. On the right-hand side is a supplement line called Spoken. We built this with a network of some of the highest-end trainers in pro sports. A lot of them are creating their own product. We basically put them all in a room said, "Why don't we make a best-in-class version of this, that way you can sell it to your clients. You don't have to create your own formulation." This was effectively the brainchild of one of our board members, Andy O'Brien. He's the strength and conditioning coach for the Florida Panthers. He's trained Sidney Crosby and Nathan MacKinnon. We sell this into about 75% of all the pro teams in North America, across the NHL, NFL, MLB, and NBA. When we go out and commercialize, there's typically two ways that you can do it, especially on the CPG side. There's top-down and bottom-up. If you're Coke or Pepsi, you can create a product, call every distributor, tell them that you're going to take it. They're going to put it on shelf because you're Coca-Cola. You're going to throw CAD 1 billion of marketing behind it, and if it works, great, and if it doesn't, oh, well. I mean, you lose CAD 1 billion, you get another CAD 1 billion. Try it again in a couple of years. You're Coca-Cola. We don't do that. We go the other way, which is bottom-up, which we feel is a lot more durable and way less expensive than spending over CAD 1 billion on the marketing side. We go out and build grassroots partnerships with youth athletes across a wide variety of sports. Our core focus to start was hockey, but now we've expanded out and we do volleyball, travel baseball, lacrosse, tennis, a bit of golf, and we'll go and sponsor these teams. The sponsorships don't typically cost a lot of money, if any at all. In hockey, for example, we'll give them a patch for their jersey, a sticker for their helmet, some branded water bottle, branded face towel, and a little bit of sample product. That branded water bottle is the key to the whole thing because when you take a kid who's playing AAA hockey and he's 12 years old, he's more often than not one of the more popular kids in class. When he shows up to school with our branded water bottle, it creates a network effect, and what do you think every other kid wants? They want the branded water bottle, which then creates the demand for the product. When you look at it, and we also incorporate influencers, foundational accounts, we go into what we call points of sweat. Once we've established that demand, if you sweat there, you buy stuff to use to sweat later. Courts, arenas, sporting goods shops, that's where you initially go and drop the product. You build demand there. As the demand starts to build, you naturally start getting inbounds from parents of these kids saying, "Hey, my kid loves your product. I looked into it. This is amazing product. Where else can I buy it?" You're going into larger retailers with a preexisting demand, and they become more willing to take it. When it shows up on that shelf, you're showing up with actual consumers that want to buy it off the shelf, and that then allows the retailer to want to put their own shoulder into it because they're making money on it, and it keeps growing from there. You go from the foundational accounts to, say, regional grocery, convenience, gas, then you go to national, and then eventually you get to the club sales, like Costco. Well, this is the grassroots program I was talking about. That's the branded water bottle you see on the top of the kids. We do a lot of stuff with the kids. This is a snapshot of where we've gotten distribution in the two years that we've been operational. Right now, we're actually approaching close to 7,000 doors. We've got a number of great distributors across Canada and the U.S., a number of phenomenal retail banners, and we're actually starting to grow in the U.S. as well. Key focus initially is in the Northeast, and as you can see, we're starting to make inroads throughout the Southwest and Southeast. One of the things that we did during the Olympics, we actually had done a deal with Team USA, we're the official sports drink of USA Hockey. As a Canadian, Canada was playing U.S. in the finals, and from a personal standpoint, I was really hoping that Canada would win. From a business standpoint, I was thrilled that the U.S. won because we had a Miracle on Ice SKU, and we still have it, and that thing is sold out 4x over across America. It is a phenomenal entry point as we go into a lot of the retailers. They take the product, it tastes great, and who doesn't love America? We've got tremendous big box opportunity on the horizon. We're currently underway with a test in about 108 targets in the Northeast. We've been approved and started selling in Walmart in Canada. We've got active discussions going with distribution for Walmart in the U.S. We signed on with some of the largest brokers for Costco in the world, Oliver and Sam Galanti. We started talking to Costco as well. A previous business before Cizzle Brands, I partnered with the founders, but the founders were the founders of a company called BioSteel. BioSteel had grown to do about CAD 120 million a year in sales, sold to Canopy in 2019. Canopy found a way to bankrupt a business doing CAD 120 million in sales. It is what it is. But the Costco business in Canada alone, this is why I tie it back, just Costco Canada was buying CAD 54 million worth of BioSteel a year. When we start adding these big box accounts, I think the revenue has a huge potential to increase along with profitability. One of the things that I get sometimes if you're going to go and hit Costco is, "Well, how are you going to actually make any money because they hammer you on margins?" We bought our factory, so now it's vertically integrated, and I don't have to pay a third party to manufacture. On the CWENCH Hydration factory, it's the largest Tetra Pak plant in North America. It's 110,000 sq ft. There is no available line time if you want to make a product in this format in Canada or the U.S. Only Mexico has two small lines available. If anybody wants this type of packaging, it's with us. One of the biggest customers that we brought on, one of the reasons we bought this plant, is that it's a co-manufacturer. We have external customers that we produce for, and they're all under take-or-pay contracts for the next five years. What that means is, each year, the minimum volume is itemized in a contract. If they say they have to make 80 million units this year and they were to only make 60, great, you still have to pay me for the other 20 even though you didn't make it. The revenue is otherwise protected. Those contracts are worth in excess of CAD 180 million over the next five years. This year alone, this calendar year, we just reported our Q3 on Monday. That was the first full quarter that we actually incorporated the plant revenue. Our sales went from the previous quarter of around, or the year-over-year, 3.6 - 12.5. And we're finally EBITDA positive on a consolidated basis. It's a phenomenal asset for us. As we've bought it, and we do have experience running a plant like this. The previous business, we had bought their sister facility in Virginia, so we know how to run Tetra. There's very nominal CapEx that needs to be made on the plant. We're looking to invest about CAD 1 million on robotic arms. Right now, if you go see the line, there's six lines. At the end of each line, there's about four human beings that are physically picking up the cases and putting them on a pallet. Nobody ever thought to put robotic arms there. For CAD 1 million, we're going to buy robotic arms. We're going to put them there, and that CAD 1 million investment is going to save CAD 2.5 million of OpEx a year. It pays back in six months. And there's a number of other continuous improvement projects. Now, this particular facility has an additional 70 million bottles that we can sell out of the existing infrastructure. Currently, we're selling about 150 million bottles a year. That's what's contracted out. We can sell another 70. We're on pace to have that 70 closed by the end of this calendar year. Once we sell through that 70, the EBITDA of the plant will be approximately CAD 35 million-CAD 40 million because it disproportionately contributes to the bottom line. It's a high fixed cost, low variable cost business. All the fixed costs are covered. Every new bottle that we sell is almost pure profit. Just some highlights of the Q3 that we reported a couple of days ago. 12.6 from previous 3.6. In Q3, we finally turned the corner and now we're EBITDA positive. We will be EBITDA positive from here on out. We went from losing CAD 2.5 million of EBITDA to a positive CAD 400,000, that's going to continue to grow, especially as the brand sales continue to increase and we start adding more clients to the manufacturing facility. There's manufacturing revenue synergies. Now, because we own the manufacturer, in Canada, our suggested retail price is around CAD 3.99 per box. We're actually looking at passing some of the savings that we've achieved through the manufacturing to the consumer to actually enhance and accelerate velocity. We're looking at potentially moving that down to about CAD 2.99. Even though we move it down to CAD 2.99, we're still going to make about 50%-55% gross margin. We've started to get recognized by some of our distributors as well as a really fast-growing brand. This is what we're looking at for this year, next year, and 2028. We're definitely on a path to start approaching CAD 100 million in sales. The gross profit will continue to increase, and the adjusted EBITDA CAD 2.4 for the year because our Q4 is May, June, July. We bought the plant halfway through, so it's not going to completely cover some of the operating losses that would have happened in Q1 and Q2, but going forward it does. From here on out, we are EBITDA positive and will continue to be moving forward. From a valuation standpoint, we do have some equity research coverage. I think there's a bit more that'll be coming on in the next little bit. Current one is Research Capital. They've got a CAD 1 price target. We're trading at around CAD 0.33-CAD 0.34 Canadian. When we look at what these things ought to sell for, if you look at it from a sum of parts valuation, we will sell through the balance of that 70 million bottles. This type of manufacturing easily gets 10x-12x EBITDA in the market. If you think about it, there's a huge moat because you have no real competition. In order to set up a facility like this, costs a minimum of CAD 60 million and takes two and a half years to build, and we would know whether that's happening or not. You never really see contract manufacturing that has north of 40% EBITDA margins. They're typically 10%-15%. Also, all the revenue is contracted. I'm not relying on, "Hey, this customer made something last year. I hope they make something like that this year." It's contracted from here on out. At CAD 35 million-CAD 40 million, 10x-12x, that's almost a CAD 400 million-CAD 500 million asset that we bought for CAD 84 million. I think it was a pretty good deal for us. Then on the brand side, again, we've built businesses that have cracked CAD 100 million in sales. We know how to do it. We're well on our way to do it. When it was BioSteel, it took them 10 years to approach CAD 10 million. We cracked CAD 10 million in our first, and we're growing. We're definitely on an accelerated path. If you take a look at any of the purchase comps of any of the CPG companies, especially on the beverage side that would have sold over the last number of years, they're all in and around the 5x-7x revenue range. BeatBox just sold for, I think it was almost CAD 600 million. They're one of our biggest customers at the plant, actually, to Anheuser-Busch. Again, we've got a direct path to get to CAD 100 million in sales. We know how to do it. It's just a function of time. That's another CAD 500 million-CAD 700 million. I don't think it's unreasonable to say that this is a company that is on path with the right management team and sort of experience in place to get to a CAD 1 billion plus. I honestly believe we can do that. Right now our market cap is in and around CAD 80 million. That's the number of shares that are outstanding. Insider ownership is about 45%, and then the options warrants, and that's the fully diluted. Yes. The only way I would maybe consider doing a reverse split is if we were looking at cross-listing into a Nasdaq or NYSE. In those scenarios, I don't think it's necessarily a bad thing. At the end of the day, the fundamentals of the business don't change and the% ownership that you would otherwise have doesn't change either. It's just the number of shares outstanding become less. If you had 10,000 shares, maybe you'd have 1,000 shares, but then the price is not CAD 1, it's CAD 10. Effectively stays the same. When do you plan to break even? The only reason I caveat that is because there's certain expenses that would go into just a basic net income calculation that are non-cash, right? Because we have one of our loans that we took the plant in in USD, but we report in CAD, you have to expense the Forex every quarter. It's not really a cash item. We think that we can start getting to that point, at least free cash flow positive, by next year. As we crack CAD 25 million-CAD 30 million on the brand side, because the plant is fine. The plant is EBITDA positive already, and that'll just become more EBITDA positive. On the brand side, as we crack CAD 25 million-CAD 30 million in sales, it becomes EBITDA positive and cash flow positive. I think that we can do that over the next 12-ish months. In terms of the cash flow, about CAD 40 million of those were early first-round investor. No. Some of those expire in August. About CAD 40 million expire in August. They're at a strike price of CAD 0.40. Stock's currently at CAD 0.33. There's seven and a half million warrants that went to OIC. OIC was the private equity company that helped us finance the debt for the acquisition. They put up USD 40 million, they also picked up seven and a half million warrants, and then a couple of other rounds of financing. The warrants are priced at CAD 0.40, CAD 0.44, and I think CAD 0.50. On the warrants? No. The options, those are employee and athlete. They're typically five-year, with a three-year vest and a one-year cliff. If the employee leaves, then the options go away as well. Sure. Listen, I've really enjoyed working with them. I'm very hopeful that when we were first looking at going public, we took a look at either the Cboe or the TSX. Listen, I have no problem with the TSX, but I found that the folks at the Cboe, it was like dealing with real people. They went out of their way to help us achieve the things that we needed to in the timeframe that we needed to. In all honesty, I've got no complaints about the people that worked there. I thought they were tremendous. From an exchange standpoint, I think it's great. It gives you a senior market so you can hold yourself accountable to a stricter standard, which is something that we also wanted to do to show investors that we've got the rigor to do that. Overall, I think it's been great. Again, we'll always look for ways to help increase value for shareholders. From working with a Cboe standpoint, I think the guys are great. No other questions? All right. Well, thank you guys for coming. If you want to stop by the booth-