Presenting from EnWave. Hold your applause, Eric. Good morning, everybody. For those who don't know our business, I'll give a fulsome overview of who we are, what we do, and where we're going. EnWave Corporation is commercializing a proprietary dehydration technology, putting together vacuum and microwave to create a low-temperature, controlled, economic way to take water out of primarily foodstuffs. We also have commercial applications in the cannabis industry and, to a lesser extent, more blue sky in the pharmaceutical industry through some strategic partnerships that we have formed. In regards to our capital structure, we recently completed a CAD 3 million life financing for the purposes of building out inventory of these vacuum microwave dehydration machines to faster deploy them to our licensed partners. Typical time to build one of our large-scale machines is about six months. We foresee imminent demand through fiscal 2026. Our fiscal year starts October 1 and ends September 30, so we're in fiscal 2026 now. We want to be prepared to deliver increased manufacturing capacity to our partners who use this technology to produce end products for the consumer market and, in turn, pay us a royalty tied to their success. That royalty structure can be in primarily two forms, either as a percentage of the revenue that's derived from the sale of their products to market, typically between 2% and 5%, depending on the application and the partner, or the royalty structure is set up as a fee per pound or kilogram produced using the technology and then taken to market. That royalty is justified in several key ways due to the value proposition of the tech, which I'll get into in a moment. Thus far, we've commercialized this technology with north of 50 companies, including many blue-chip, multi-billion dollar CPG folks, as well as many important co-manufacturers who play a critical role in the food industry, selling their ingredients or snacks for use by these bigger companies. In terms of royalties, we generate just under CAD 2 million in fiscal 2024. We just finished fiscal 2025, and our yearly numbers will come out in December. We're anticipating growth in both royalties, machine sales, and I'll get into in a moment. The other way we make money is through toll manufacturing at our facility in Vancouver. In regards to the technology's intellectual property prowess, we currently have 18 patents successfully filed and granted in many jurisdictions globally, all the major markets that we're doing business in, protecting both the apparatus design of the machinery and also, layered on top, certain processing protocols, which gives our licensed partners more protection, as many of these licenses have an exclusive component to them, allowing them to position themselves uniquely in market and hopefully carve out material market share, thus increasing royalties paid back to EnWave. The goals for our business, now that the technology is fully commercial, we've had, I think, our longest operating plant with our biggest scale of machinery running for about 10 years now. We've proven that the business models for these specific products work. We've seen similar products launched in multiple countries internationally with similar success rates, all with the effort of growing a massive, diversified royalty portfolio. At the end of the day, when we get up, we're trying to close deals with the right partners so they can have success in the market, thus paying us royalties on a quarterly basis. As we continue to increase the percentage of royalty revenue that we collect versus, say, machine revenue, the overall margin within our business is expected to improve. Last year, we did 75% of our revenues through machine sales, about 25% majority through royalty collection. For the next two to three years, that percentage will likely stay the same, but overall, both prongs of revenue generation and collection should improve materially. As we increase the royalties and generate free cash flow, the plan is to obviously expand the business to increase our capabilities to a certain extent, but more so consider rewarding the shareholders who have been in our business, supporting us over the many years, either through a dividend program or share buyback. I know a lot of our European shareholders prefer the buybacks due to certain tax requirements for them. We talked about the two primary prongs of royalty or, sorry, revenue generation: machine sales. That's typically around 30% gross margin, give or take, up or down. Certain transactions are negotiated to get deals done. On average, it's about 30%. In regards to the royalty collection, it's basically pure margin. The more royalties we can collect, the better our company is going to do. We have seen significant growth over the past five years in that area. Lastly, I mentioned we have a co-manufacturing facility based in Vancouver that's not really there to compete with our licensed partners. It's more so as a Band-Aid processing solution. If they need more capacity, we're there to help them. It also allows companies who are evaluating the technology to actually conduct line trials, take an appropriate amount of product to market to justify that business case before investing their own capital for internal manufacturing using our equipment. I mentioned growth in royalties. As illustrated on this chart, you can see significant growth over the past five years. That's expected to grow for fiscal 2025 and into fiscal 2026. The leading indicator on royalty generation is how many machines are installed, are out there, available for use. I will state not only do we have the ability to deploy more machines, but the users of current machines that are already installed, the capacity utilization is increasing across the board. We are going to see royalties improving both on number of machines and also increasing the utilization of those machines as we move ahead. For fiscal 2025, you're going to see the total kilowatt capacity installed jump up several hundred kilowatts to about just under 3,000. The expectation for fiscal 2026, which we're in now, is to sell multiple additional large-scale and small-scale machines, both on a repeat basis to current licensed partners and also new relationships that we're going to forge. As mentioned in regards to the margin profiles of the two majority revenue streams that we have, machine sales and royalties, as those royalties increase, and of course, natural scalability in regards to the deployment of machines, we're going to have a better margin profile and ultimately allow us to hopefully wake up in the morning in a few years' time, fog the mirror, and get paid to do so because we know we can count on those sticky royalty streams forthcoming. In terms of the companies that we have partnered with, licensing this technology out to and providing machinery to, are listed on this screen, one of which is in the room and actually presented earlier today in BranchOut Food. Eric Healy, CEO, is here. They've had tremendous success in the commercialization of this technology, installing multiple large-scale lines down in Peru and then selling different CPG products into the North American market through Costco, Walmart, et cetera, and also acting as a co-manufacturer for certain companies that simply want to buy the ingredients. Others that we've partnered with would include Dole, who launched a product called Good Crunch last year, which is doing well in market, pineapple and banana snack. We're also involved in the meat industry, pet food, baked goods, all types of different applications. We're quite diverse in regards to the use cases for this technology. We're not a one-trick pony where we have one particular product that's doing well in market, say, like a dry cheese snack or something like that. In terms of the dispersion of installations globally, as you can see, we're in 24 countries now and expanding rapidly. There are different deals in the Gulf region that we're negotiating currently, a number of other European opportunities that's being driven by a new salesperson we hired on last April. Really, we are traveling, I would say, every two weeks. Someone's on a plane internationally to help complete installations, do training, and overall just support for our licensed partners. Unlike other OEMs who sell a piece of machinery and then, you know, we're done, good luck to you, maybe provide some after-sales service at a fee, we're there through the entire relationship to help support them in new innovation, improving their efficiencies, and ultimately, that's going to lead to further royalties being paid back to EnWave. In regards to the total addressable market, two quants that I would focus on really would be the total amount spent on new freeze-dried equipment globally per annum, which was CAD 4.3 billion in 2023. Freeze-drying is our biggest competitor. It's the incumbent technology that's been around for multiple decades. Where we win when compared directly to freeze-dry, our processing times are typically one to two hours versus a minimum of 15 hours on a batch basis for freeze-dry. Further, the energy utilization for vacuum-microwave is less than freeze-dry. The total number of full-time employees required to run a batch or, sorry, a full line is less than freeze-dry. The qualitative attributes of certain products that are produced using our tech versus freeze-dry are, simply put, better, better on all accounts. I'll go through those details in a moment. The second quant that I would look at would be the value of freeze-dried product actually in market that's sold on an annual basis. If you take that number and you apply even on the low range of 2% - 3% royalty to that number, that is the potential amount of royalties that could be collected if we're able to further penetrate this market and displace a technology that is proven to be inferior and more costly. In terms of recent wins, we just finished up, again, our fiscal year 2025, September 30. We had a number of very good announcements throughout the year. We are a break-even business when we sell four large-scale machines and with our royalty run rate from fiscal 2024, about CAD 2 million. In fiscal 2025, we sold four large-scale machines, eight small-scale machines, which the quantums for each large-scale are about $2 million on average. The small-scale units are about $200,000 on average. The royalties that we collect over too. With a 30% gross margin, that gets us to cover our total cost in the business, which ranges between CAD 4.5 million- CAD 5 million on an annual basis. That's our expense structure. We are essentially a break-even business at this point for fiscal 2025. As we look forward to fiscal 2026, our goal is to sell at a minimum six large-scale machines and, again, four to six small and have those royalties increase. Therefore, our goal is to be a positive EBITDA business for fiscal 2026. Looking at our pipeline internally, we're quite confident in the possibility of getting there. A bit more about the technology. When you apply a vacuum, you're altering the atmospheric pressure, therefore lowering the boiling point of water. Our technology precisely applies a certain amount of vacuum to control the range at which the water is removed from a food product, while still allowing for the retention of a heightened level of nutritional properties and also engaging in a puffing effect for certain products that have different structures, allowing for unique qualitative attributes, and then adding a certain amount of power density of microwave energy throughout the different processes or sections of the machinery to allow for consistent high-quality output. This is a very precise tool. It's not a toaster. You don't just plug it in and use it. You have to have that know-how, which is further coverage of our intellectual property. It's one thing to go and read our patents. The second is the application of the machinery in practice to produce a variety of different products. I'm sure Eric and his team can testify to this. It's not as simple as just installing it, using it. That's why that long-term relationship is so important to the ultimate success of our royalty partners. This video is not working, I believe, but that's OK. We'll send the link later. It's to show actually one of our large-scale machines in action, which is located in Vancouver, British Columbia, just to give you a sense of the size and scale of it. Our typical large-scale machines are about 15 m in length, about 4.5 m in width, and 4 m in height. Perhaps in this room is exactly where you would fit our 60 kW unit. Our larger unit would be about double the length and size. This is not a small machine by any means. This is an industrial processing line. We talked about the royalty structure. I won't go point by point this particular slide. When you bring together all of these value props, it helps to justify the ongoing carried interest alongside our support and the access that we provide for this unique drying platform. In regards to the commercialization of this technology, I'll draw your attention to the small blue circles on the left side of the slide. That signifies the number of royalty-bearing licenses we have signed in each respective market vertical. As you can see, the most success we've had and continue to have in our pipeline is in the fruit and vegetable space, followed by the dairy industry, meat and seafood, and other auxiliary verticals. In regards to pet food, we are currently working on developing products for some of the biggest pet food companies in North America. We foresee fiscal 2026 as a breakout year in that particular area for us and looking forward to sending out news releases regarding that. In the cannabis industry, we know this technology's value proposition is sound. We have one of the largest producers in Canada currently using one of our large-scale machines. We've got the data. As you know, that industry has gone through its trials and tribulations. We still believe there's opportunity for us to grow in that business. Our core focus for fiscal 2026 will continue to be in the food industry. I talked about the relationship between EnWave and its royalty partners, like why would folks choose to work with us versus a company that's simply going to sell them a drying machine and be done with it? I talked about the innovation, the uniqueness, the value proposition in terms of lower cost of production, and ultimately our availability. We say we do what we say we're going to do. We make ourselves available 24/7. We get folks on planes to go down and visit our licensed partners to help them with whatever development they need. I've been talking to Eric there. We've had our Chief Scientific Officer down there to help support some of the new product development they're working on. We'll continue to do that not only for Eric, but all of our commercial partners. I talked about the qualitative attributes of some of these products that are being produced when compared to other dried options. The chart illustrated on this particular slide dictates why REV Technology dominates freeze-dry and air dry. Further, we have worked with Canadian universities to collect appropriate nutritional data, third-party data, that prove that we compete directly against freeze-dry, yet the cost of production is far less. It's not just in-house cherry-picked data that we're providing to our potential adoptees. This is third-party validated data that supports REV as a superior drying technology. Our sales process, in times past, was long and cumbersome, more than 12 months in most cases, to engage, to do the product and process development, to have them out to Vancouver to show them technology in action, and then for them to develop their marketing and launch plans before signing a license agreement with those robust commercial terms and ultimately launching to market through their distribution. Now it's sped up. The majority of our orders for machinery are typically repeat orders. Our partners are growing. The demand for their products in market is growing, and hence, they just need more manufacturing capacity. If we look at our pipeline for fiscal 2026, about half the machines that we anticipate to sell should come from existing royalty partners. The others, being a little bit longer in sales cycle, will come from new partners signing licenses, typically buying small-scale machinery to begin, and then elevating their manufacturing prowess to large-scale machines between 6 and 12 months. The last release we put out was with a Brazilian company called Solve Solutions, signed a license, bought a 10 kW REV machine, our small-scale unit, and had the requirement to buy a large-scale machine within six months for placement at a facility that they've already invested several million dollars into. We have a very clear path to scale up with not only them, but other partners within our ecosystem. Talked about the machine size. Here are the specs. You can actually see what they look like. I don't have a laser pointer. If you look at the 60 kW REV system on the left side, there's a small inlet, basically a vacuum lock similar to what you would have in a submarine. The product will go in through either a tray or a drum into a small chamber. The door will shut, apply a vacuum that is the same as the main chamber. The secondary door opens. That transport mechanism, tray or basket, then enters the main unit, travels through several sections of the machinery, and then exits through the same mechanism. Total processing time can range between 45 minutes to a couple of hours, dependent on the product, i.e., how much moisture does it need to have removed, plus at what temperature can we expose that product to optimize the qualitative out results. In regards to our liquidity, we've never been in a stronger position as a business. I mentioned the CAD 3 million life financing that we completed to build inventory. Our cash resources prior to that were about CAD 5 million the last reported quarter. We also have up to CAD 5 million available through a line of credit facility that was provided by Desjardins Group that was secured in early 2025. That's a function of royalties, inventory, and accounts receivable, so very liquid to execute on our strategic plan. In regards to our sales strength, I mentioned the hiring of a European leader that's really been driving business development and pipeline for us. We also have had a new VP in place now for just over a year. Given the sales cycle that we just talked about, the timing of new relationships and transferring them over into full commercial licensees, we haven't seen any of the results from those efforts yet. In 2026 is where we would like to see, obviously, several deals getting across the line that those folks are managing, whereas in fiscal 2025, the majority of sales came through my efforts and one other person internally. We're again confident in the future of scaling up the number of machines we sell for the next year. We attend every major trade show globally. It is a lot of travel. It is expensive to participate. We've seen results. We've seen a number of new relationships being generated by having our boots on the ground, face to face, pressing skin, shaking hands, you know, the whole thing all over the world, in the Gulf region, Europe, South America, everywhere. Our plan is to continue that. In terms of the investment highlights, we have a proven innovative technology that is disrupting the food industry, has optionality to potentially disrupt the pharmaceutical and cannabis industries in a more robust fashion. We are protected through 18 patents currently. We just filed for two additional patents. The life of those patents, the more important ones, go out until the early 2040s. That's an important point to make. The way that our licenses are written is that our royalty partners will pay us the agreed-upon commercial terms up until the last patent within our portfolio expires. It's really important that we continue to innovate, continue to layer patents, and continue to protect our licensed partners, as well as provide new innovation for them to exploit commercially. Large market, as we went through earlier, proven with major companies who have accepted this particular model. It's less difficult, I'll say, to compel the royalty model now than it was five years ago. In terms of our leadership team, we are complete. There are no major expensive hires forthcoming. We feel like we have the necessary tools to accomplish what we hope to accomplish in the very near term here. With that, I will open it up for questions or comments on the presentation. Yes? I'm just wondering, after the sale of a major machine, generally, how long does it take for a particular market, addressing that first role? It's a great question. For a new company, typically what they'll do is they'll buy the small-scale machine and actually take product to market. We'll see royalty dollars at a diminished amount within the first six months of installation on that 10 kW unit. However, if at a more larger scale, more meaningful royalty production, you're looking somewhere between nine and 12 months, likely, from the installation point of a large-scale piece of equipment, unless we've already brokered a supply agreement for the buyer of the equipment. I'll give you an example. Certain large CPGs don't want to buy the machines. They just want the product. Enter BranchOut Food. BranchOut, meet company ABC. Would you like to supply them with product X? Yes. They'll negotiate a supply agreement. They'll have assured that a certain amount of manufacturing capacity will go through their machines that they're acquiring. They’ll feel more comfortable deploying more CapEx to put more capacity in place. That royalty is instantaneous. As soon as that machine gets turned on, you're looking at very high capacity utilization and more royalties growing faster on a quarter-to-quarter basis. Last year, of the large machines we sold, one was to a Mexican partner who had a supply agreement like that set up. Obviously, to BranchOut, they've got a growing business with many opportunities, which I'm sure you talked about this morning and talked to Eric offline, pretty exciting stuff. Also, with another major company whom actually BranchOut collaborates with, called MicroDried, based in Washington State and Idaho, who have a unique position as a co-manufacturer for fruit and vegetables and now into the dairy industry. They already have deals set up. With small machines and large ones, what time sales cycle do you anticipate? We're likely to have some news releases forthcoming. I'll say it's shortening like three months from introduction, come to Vancouver, see the technology firsthand, work with our innovation team, negotiate the license, sign. We're looking at like three-month time horizons now to close deals versus, say, six, nine, 12 months that we had before. You said earlier, if they buy the small one, how long does it take before they like maybe out of the quarter? Oh, completely depends on the size of the company. We've seen certain businesses that aren't deep pocketed that buy multiple small-scale machines as they scale up versus going directly to large-scale machines. It really depends across the board. There's not like a predictive nature to, OK, 10 kW, then you can model out, OK, in six months, you need a large machine. It's very bespoke to the relationship. OK. Any other questions, comments before I jump off? OK. See you in none. Thanks, everybody. Appreciate it.