All right. Thank you very much. Good morning, and thank you for having me this morning. Volatus is a Canadian-headquartered aerospace company operating at the intersection of commercial aviation, uncrewed systems, and defense capability. We operate both piloted and remotely piloted or uncrewed aircraft. We provide aerial intelligence, remote operations, and mission-critical services across industries like energy, infrastructure, public safety, and government. While we're headquartered in Canada, our operations are international, with teams across Canada, North America in general, Canada, United States, U.K., Europe, and South America. The customer base is particularly important because these are real operations with real customers generating real revenue. What's interesting today is that many of the capabilities that Volatus has been building for years, including remote operations, autonomy, persistent sensing, and aerial logistics, are now becoming priorities for governments and allied defense organizations. For Volatus, we didn't pivot into that environment. We were actually built for it. As we walk through this presentation today, I'd encourage you to think of Volatus not simply as a drone company or a collection of products and services. Think of it as an operating platform that's already proven commercially and increasingly aligned with how sovereign and defense customers want to deploy that capability going forward. As usual, before we begin, I'll briefly talk about forward-looking statement. Some of the comments we'll make today may include forward-looking information, including our strategy, growth plans, and future opportunities. These statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ. You can find a full description of these factors in our public filings. With that said, I'll now walk you through the Volatus story and see how the company's evolving. To put some substance behind that positioning, Volatus already operates at a commercial scale in complex, regulated environments across multiple jurisdictions. What differentiates us, though, is not any single aircraft or technology, but the way we integrate platforms, autonomy, remote operations, and train teams into one operating model. That model allows us to scale through automation and centralized operations, rather than having to add people in a linear fashion as we grow. Importantly, by doing this commercially today, that creates a low-risk pathway for sovereign and defense customers to adopt the capability that we've already proven commercially. Why now? What's changed is not a single event. I think we're all living it. It's a clear shift in global priorities. Sovereignty and operational resilience are now top of mind for governments and critical infrastructure alike. At the same time, there's a strong preference for dual use capabilities that are already proven in commercial operations rather than bespoke or experimental systems. Autonomy and remote operations have also moved from optional to necessary in order to scale efficiently and operate persistently. Finally, customers are shifting away from buying point solutions towards long-term operating partners who can deploy, run, and sustain capability over time. That shift strongly favors platforms like Volatus. No scaled player is building from a commercial-first foundation, and that gap creates real opportunity for Volatus. This slide explains how Volatus actually creates leverage. We start with commercial operations. That's where we generate scale, operational data, and regulatory credibility operating in complex real-world environments. On top of that, we apply our autonomy and remote operations. This allows us to operate persistently and grow without increasing cost and headcount. Importantly, we don't deliver isolated services or products. We integrate platforms, infrastructure, autonomy, and trained teams to deliver outcomes that customers don't want to build or can't manage themselves. The model is proven commercially, it translates and transitions naturally into sovereign and defense applications. That's why we think of ourselves kind of less as a vendor and more as a long-term operating partner for capability. This slide is the simplest way to understand Volatus. At the top are mission outcomes. That's the things customers really care about. Things like surveillance, logistics, infrastructure, and security operations. To deliver those outcomes at scale, we rely on autonomy and centralized control. That's what allows us to manage missions remotely, operate persistently, and coordinate multiple missions, operating simultaneously. Underneath that are the platforms and the infrastructure. These are the aircraft platforms and persistent deployment tools that allow us to operate across different missions without being tied to a single system or OEM. Critically, all of this rests on our people and trust: trained operators, red teaming, counter-UAS experience, and regulatory credibility. That human and institutional layer is what allows the rest of the stack to be used responsibly, safely, and at scale. Taken together, this is why we describe Volatus as a platform and long-term capabilities partner rather than a product company or a collection of services. This is important. This is how the company actually scales. We operate through a centralized operations control. That's the picture you can see in the middle. That's our centralized operations control center. That allows us to execute the missions across wide geographies without having to have people physically present. Autonomy and mission orchestration lets us manage multiple air vehicles and missions simultaneously, which is critical for persistence and, most importantly, cost efficiency. Autonomy and mission orchestration lets us manage multiple air vehicles, and the result is that growth doesn't require linear increases in personnel or infrastructure. In fact, as volume increases, operating leverage improves rather than compressing our margins. This model is also more resilient because it's less dependent on individual sites, peoples, or assets being deployed in various locations. We're very deliberate about where we operate. Our core markets today, as our CFO would say, dull, boring revenue, is generated in markets like energy and critical infrastructure, public sector and safety missions, and sovereign and defense applications. These markets all share pretty much similar requirements. They're all regulated environments. They require persistence, reliability, and most importantly, trust. Importantly, we focus on serviceable near-term opportunities where we already operate today, so we're not relying on speculative markets or unproven demands to justify our business. Again, an important thing to understand with Volatus is we were built commercially, so we've got significant commercial operations as we scale into the defense sector. This focus allows us to build scale, reuse our capability across sectors, and expand selectively as the demand increase. This is why our position is durable. First, when we're operating in regulated safety-critical markets and environments, that requires approvals, processes, and most importantly, regulatory trust that takes years to build. That alone creates a meaningful barrier to entry. Second, with centralized operations and autonomy, that allows us to scale in ways that traditional service providers simply can't. Third, we're platform-agnostic. We integrate across multiple aircraft, RPAS systems or drone systems, which gives customers flexibility, and it reduces dependency on any single OEM. Finally, our relationships are long-term and outcome focused. Customers rely on us to operate and sustain capability, not just deliver a transaction. That combination makes us pretty difficult to compete with. Example for that would be in power utilities and in the energy sector at large, where the majority of our business is multi-year, long-term contracts. Obviously, we've had some pretty significant changes recently. With the release of Canada's Defence Industrial Strategy has caused a real change in Canada, which is our headquarters and our original market. As Canada increases defense allocation and prioritizes Canadian content, particularly where scalable autonomous platforms have been made a domestic priority, Volatus represents a distributed sovereign aerospace platform that's aligned with the long-term structural and defense investment trends. A couple of key things. Canada has basically issued this Defence Industrial Strategy. It's about a week-old right now. In that, they've pledged CAD 84 billion in defense, and most importantly is not the presentation of the investment, but also the allocation of those funds, where they've prioritized autonomous systems for one thing, as an example. This creates a really interesting investment opportunity because as governments issue long-term demand signals, that reduces the risk ultimately for people investing in the sector. Canada's defense sector has traditionally traded at a discount to our international peers. That's largely because there wasn't a demand signal from the Canadian government. The demand signal reduces risk. Reduced risk reduces the cost of capital, and reduced cost of capital increases and accelerates execution. It's a very, very interesting time. We believe it's an opportunity for investors to evaluate what's going on and potentially reset valuations across the defense sector in general. This is this slide really talks about our IP and R&D and our tech strategy. A lot of our technology strategy, people think about aircraft and RPAS and drones. What they don't think about is what's really behind them. Because if you think about it, a large aircraft being operated with a pilot and a remote-control operation, that's really a remote-controlled aircraft. It's when we introduce autonomy into the system that these become powerful tools. Volatus is developing a suite of products around something we call V-CORTX AI, and V-CORTX is the brain around which we build our autonomy stack. V-CORTX is a suite of products, the intelligence systems, the brain that goes inside of drones. It's platform-agnostic, which means it supports interoperability, it has the ability to be installed on all kinds of different platforms, as you can see above. The airframes are basically an airframe-agnostic platform. Think of that as a brain. A brain needs eyes, ears, nose, and mouth. Those are sensors, right? Those are the things that provide the data to the drone or to the brain. The brain talks to the flight control system. The flight control system instructs the body or the airframe to do the job. That's probably the most important element in any RPAS operation. As you can see at the bottom, this is a scalable activity. I like to really liken this to a Tesla Full Self-Driving, where it learns and continues to evolve and adds features as is required for individual operations. When you start getting into, for example, autonomous navigation, that's particularly critical in areas like operating in the Arctic environment, which is a primary focus for us right now, is developing technologies in that space. With the change in the Canadian Industrial Defence Strategy, Volatus has made a fairly substantial commitment now to build sovereign capabilities. What you're seeing here is our, is our factory in Québec, where we're actually built this to scale our autonomy, meet the demands of both the Canadian market and international markets as we continue to scale. We believe that this is going to be one of the most important assets for Volatus over the next 12 to 36 months. Key point here is Volatus is not a conceptual story. We're a company that's already operating across multiple jurisdictions under complex regulatory frameworks, and we're delivering persistent operations at scale. We've executed across commercial, public sector, and sovereign environments, often under conditions where reliability, safety, and compliance are non-negotiable. What that creates over time is something that's hard to replicate: operational data, institutional experience, and repeatable processes that improve performance and risk as we grow. What I'd like to do is point out something here. Particularly, if you look at the on the left-hand side of this picture, you can see a whole series of dots, different colored dots. That's where we've got ongoing operations we've completed recently, they're ongoing currently, or they're about to be done. What I'd like you to look at as an example is that red. You can see some skinny, tiny, little red lines and a big cluster over Western Canada. That's not That's actually pipeline, and it's the pipeline that we fly. Most importantly, you can see the majority of our pipeline business is in the Canadian market right now. In Canada, the total pipeline is about, excuse me, 840,000 km of pipeline. In the United States, there's 4 million km of pipeline right away. You can see that we've recently started operating in the United States. We believe that that market will continue to translate with the penetration we've had in Canada into the United States markets, to the extent that recently we opened a new operating base in Tulsa, Oklahoma, to help us continue to expand. Substantial opportunity in that area, just as one example. This slide highlights the company's quarter-over-quarter revenue growth. In Q3 2025, revenue increased by 60%, reaching CAD 10.6 million. Gross margins have remained consistent in the 32%-34% range. Our revenue mix is also well-balanced: 47% services, 53% equipment solution sales, which reflects the sale of hardware. We're also seeing steady improvement in profitability. Over the past year, we've reduced our quarterly EBITDA loss from approximately CAD 3 million to less than CAD 500,000. The company finished December 2025 with approximately CAD 40 million in cash on the balance sheet. As we exited 2025, we had roughly CAD 20 million in annual recurring revenue, that's contracted services, along with about CAD 10 million in backlog. This slide shows a comparison of Volatus against a group of publicly traded companies in our sector. As you can see, there's currently a valuation gap between Volatus trading at less than 13 times last twelve months revenue, and our peer group, which is trading at 90. Many of these companies are earlier in their commercial journey, while Volatus already operates in diversified commercial platform with service revenue, equipment sales, and intentional international operations. At the same time, capabilities we've been building are aligned with the priorities we're seeing from governments and defense organizations. We believe as that environment evolves and our focus remains the same, we'll continue to build the business, execute on commercial opportunities that expand our capabilities. Which means that over time, that progress may give investors an opportunity to reconsider how they view our company relative to the broader sector. That's particularly a consideration. Same logic applies, as I mentioned, in the defense revaluation. We think there's an opportunity for investors to reconsider valuations of companies in our sector in general, and in particular, where Volatus sits relative to our peers. Key point I'm gonna make here is the level of insider holdings. As you can see, Volatus has approximately 21% of the stock is held by insiders. That's particularly interesting because it aligns the interests of our staff with the interests of our external shareholders. What I also want to mention is 2 points. Not only has Volatus got an active ESOP program or stock option program where every full-time employee becomes a shareholder and builds with the opportunity to build a position in the company over time. During the last year, where the company performed in the top 50 issuers on the TSX Venture Exchange, we were actually number 16 on that list out of just under 1,600 companies that traded. Not one insider sold a share. In actual fact, since the company went public, the insiders haven't sold a share. We have large holdings, our interests are aligned with our investors, and we have significant skin in the game, and we're in it for the long haul. Our strategic option value really has to do with the fact that our commercial business will already continue to scale on its own. As governments increasingly prioritize resilience, autonomy, and sovereign capability, we're naturally aligned with those long-term needs. As we scale our operations, the opportunity is not. It's asymmetric. In actual fact, we'll have the opportunity of growing our business without changing our business model, which actually creates margin expansion opportunities as we grow. That brings us to the end of the organized presentation, and I'd be happy to take any questions. Okay, Glen, thank you so much. Yes, everyone is welcome to pose questions to the chat. In the meantime, I have a couple of questions. What are the key milestones that must occur for defense revenue to become, like, a big factor rather than just a strategic optionality? That's a great question. You know, one of the things I think is extremely important is press releases don't drive revenue, right? Contracts drive revenue. What we have right now, particularly in Canada, but we're actually seeing this all over the NATO allied and allied nations, is we're seeing demand signals. We are starting to see revenue growth out of that, but I'm gonna talk specifically in Canadian terms right now because I see that as being a substantial opportunity because of our positioning in the market. Canada's made a huge commitment. They've created a mechanism, that mechanism is gonna be administered through a group called the Defence Investment Agency, which has just been stood up. It's gonna take them a little time to get organized. It'll take a little bit of time for the revisions to the industrial, regional industrial benefit program to be aligned and for contracts to roll out. There's some uncertainty in terms of timing right now. I think it'd be irresponsible for us to really say how quickly it can happen. That being said, Canada has made a commitment to achieve its 2% growth, which was a CAD 9 billion increase in defense spending this year, and 75% of defense spending has historically happened outside of Canada, where now the government's industrial policy has prioritized 70% of that spend to be spent with Canadian companies in Canada. That's a trend we're seeing pretty much around the world, but I think that has the potential to be quite substantial over the next couple of years. Timing is a little bit more uncertain. We're enthusiastic and working very hard towards that, but that's kind of where things stand at the moment. Now we have a few questions in the chat, but I think they all go in the same direction. Can you comment on potential further dilution of the shares or more capital raises, since you already have quite a lot of money in the bank at the time? It's, you know, at this moment, there's no immediate plans for capital raises. Any small cap company that says that they've got no future need for company is a small cap company that doesn't have plans for growth. Volatus has been an acquisitive company. We've acquired 20 companies since 2019, and it's safe to assume we're not finished yet. Capital raises will potentially occur if and when the demand requires it, based on growth opportunities, or potentially potential M&As that might contribute in a positive way, accretive acquisitions that can drive revenue and bottom-line performance. Again, a key point to remember here is, first of all, Volatus's cash position right now is very healthy. We're more focused on institutional hygiene, on positioning the company, so that it can take advantage of all of the current opportunities. The last thing I'd say is, when you think about dilution, I'm one of the largest shareholders in the company. Anything that we do affects me disproportionately, good or bad. Believe me, there is a conscious, a consciousness amongst our insiders to make sure that whatever we're doing is in the best interests of the corporation. Yeah. A question: Currently, Volatus, government military ops center around ISR and logistics, what is happening on the offensive kinetic side of drones and autonomous versus PFT? FPV, sorry. FPV. Our business and defense has been continuous since the invasion of Ukraine. To the extent that when Canada sanctioned Russia counter-sanctioned Canada by banning about 200 Canadians from entering Russia. There were some celebrities on that list that got all the notoriety, which was a little frustrating 'cause I was number 11 on the list. We have been supporting Ukraine with the sale of equipment through NATO partners and non-government organizations. The FPVs have been there. In terms of developing products, we're currently developing products, such as the ones that were just questioned here, to meet the requirements that are being specified by the Canadian military specifically. Over the next several years, what mix of growth do you expect from the commercial operation with the sovereign and defense programs? The, you know, the reality is the defense opportunities are lumpy, but they have the opportunity to be substantially larger than our civil business. You know, the way I like to think about it, commercial business is dull, boring revenue, right? That's the term our CFO uses regularly. It's long-term contracts, it's very stable. Defense right now has an extraordinarily high demand, which is likely to persist for the next several years. Regardless of what happens in global conflicts, there's a deficit in the defense communities in the area of autonomy systems, autonomous systems. I think there'll be substantial growth in that space, and certainly the size of the contracts and the potential contracts in defense are much larger than the size of contracts in the civil world. It's, it's very difficult to sa y how quickly those things will happen. Do you have M&A plans? We have an active M&A pipeline. Again, we've completed 20 acquisitions since the company, since 2019. It's safe to assume we're not finished yet, but that's about all I can really say there. There's a quite difficult question to answer: Where do you see the share price in the next 12 months? Being a shareholder, I know what I would like to see, but I think that's determined more by the people listening on this call than it is by me. Really, the thing I would say here is, I think there's an opportunity for the defense industry at large to experience revaluations based on substantial government demands. We hope that that's gonna translate favorably on our stock price, but again, you know, that's really determined by the investors themselves and the demand on the stock. I certainly hope people will be enthusiastic about our stock after hearing the story. Okay. What are the plans for the next couple of years? Where do you see the company in a few years? Because we're very much right now, if I look at Canada as an example, we have a national footprint. We have, for example, Québec City is where our geomatics is located. In Montreal, Québec is where our manufacturing is. Toronto is our remote operations center. Edmonton, Alberta is where we have our aviation hub. In the United States, we have infrastructure, permanent office in Syracuse, New York. In Tulsa, Oklahoma, we expect we'll continue to evolve our U.S. operations. In the U.K., we're based in Emsworth. We have permanent staff around the London area as well. I think we'll continue to expand in European markets right now. I believe this next period will be a period of growth for every one of the sectors of our business. Remember, this is really somewhat of a sunrise, sector environment that we have going on right now, with strong, defense tailwind. You know, we're really in a period, I would say, of realizing the blue sky opportunities for the next few years. That's exciting. We have 1 minute left. Maybe you can wrap it up in about 1 minute. Why is now the time to invest in Volatus? I would say there's never been a time in my professional life that I've seen the demands that we've seen in the sector that we're in. Volatus is extremely well-positioned right now. We're a company that operates piloted and remotely piloted aircraft, data services. We provide mission-critical intelligence. We've got manufacturing. We're an entire ecosystem. We design, we build, we operate, we train, and we sell. I think we're extremely well-positioned for continued growth over the next few years, and I certainly hope people will, at a minimum, follow our story, and hopefully decide to join me as my partners in investing in this company. Glen, thank you so much. Thanks very much, Mike.