Good morning, ladies and gentlemen. Welcome to Flow Capital's earnings call for Q1 2025. At this time, all participants are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. Note that instructions will be provided at that time for you to queue up for questions. If anyone has difficulties hearing the conference, you may press star zero for operator assistance at any time. I would like to remind everyone that today's discussions may contain forward-looking statements that reflect current views with respect to future events. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. For more information on Flow Capital's risks and uncertainties related to these forward-looking statements, please refer to the Q1 2025 Company's Management's Discussion and Analysis, which is available on SEDAR. Today's call is being recorded on Thursday, May 15th, 2025. I would now like to turn the meeting over to Alex Baluta, Chief Executive Officer of Flow Capital. Please go ahead, sir. Thank you very much, Sylvie, for that excellent intro. Thank you, everybody, for dialing in or likely listening on the recording. Yesterday, after close, we released our Q1 2025 financial results. I'm joined today by my CFO, Michael Denny. You can find our results as usual, and as Sylvie said, either on our website or as filed on SEDAR, including a transcript of this call. Q1 was another very strong quarter for us. Loan interest revenue was up 45% year-over-year to CAD 2.9 million. That is up 8.2% from the Q4. By the way, this will be a relatively short call today as we just recorded Q4 about two weeks ago for Q4 fiscal 2024. Today, it's really a relatively benign update. Other than continued growth in our revenue and profitability, no real material events happened in the quarter. Revenue was up 45% year-over-year to CAD 2.9 million, and it was up 8.2% sequentially. Recurring free cash flow, which I will repeat, is a non-IFRS metric, but it is the key metric that we use to track our business. Recurring free cash flow was up 104% to a record CAD 847,000. I'll just point out that last year, for the full year, we did about CAD 1.9 million in recurring free cash flow, and here in Q1, we've already done CAD 847,000. That recurring free cash flow per share is about CAD 0.028 for the quarter. I will come back to that in a moment. Total assets were up 13% to CAD 74 million. We deployed CAD 3.2 million in Canadian dollars in new loan capital during the quarter. We had no repayments. All of that CAD 3.2 million was into existing companies, which I think I mentioned on the past call is a fairly big trend where we continue to invest in our best-performing companies as they grow because our capital is an excellent source of additional capital to fuel their growth. Our book value is up CAD 0.02 to CAD 1.22 per share from CAD 1.20 in Q4. This quarter marks the seventh quarter of sequential revenue growth, as I said, up 8% from the prior quarter. Marks our 23rd sequential quarter of positive free cash flow. In this quarter, we reached a record CAD 847,000. As I talked about, I would strongly encourage you, if you're interested, to go and listen to the Q4 recording from 2024. I talked about our operating leverage increasing over time. Since 2020 in the Q4 numbers, if you look at fiscal 2020 versus fiscal 2024, revenue was up 75% over that period, but free cash flow is up 189% over that same time period. Quite frankly, our NER on an aggregate basis is still probably double what we think we can get to in the longer term, maybe even more, which suggests that there continues to be a lot of operating leverage in our business that as we grow and scale our business, we'll be impacting our numbers. As I mentioned on the Q4 call, it's a fantastic business what we do, which is venture debt or growth venture debt. We focus on lending money to high-growth companies, and really the key metric we look at, besides intense due diligence, where we review quality in customers and management and all those other things, is growth. We're really well suited for asset-light companies that are growing at 15% or 20% or more. Excellent quarter. No changes in the portfolio valuation from Q4 on either the loan side or on the equity side. Pipeline remains, while lumpy, as I mentioned on the Q4 call, relatively robust. We're happy with the progress of the business. You know, one of the things I wanna mention, I don't usually talk about it, but we are trading today at less than 7x free cash flow if you annualize Q1, and less than, or just about 3x EBITDA, again, if you're annualizing Q1 performance. That's at a company growing over 45% on a year-over-year basis. I'm gonna pause it there and see if we have any questions from our audience. Just, yeah, thank you. Let's just pause there. Thank you, sir. Thank you. Ladies and gentlemen, if you do have any questions, please press star followed by one on your touchtone phone. You will hear a prompt that your hand has been raised. Should you wish to decline from the polling process, please press star followed by two. Please go ahead and press star one now if you have any questions. At this time, sir, it appears we have no questions. Please proceed. Thank you, Sylvie. Thank you, everybody, for listening to the call. Again, a very abbreviated call. We just had a very detailed call, not more than two weeks ago for Q4. Q1 continues the trend of Q4. As usual, we appreciate your following, appreciate your interest. If you have any questions, please feel free to call or email at any time. We look forward to speaking to you again in three months with our Q2 numbers. Thank you very much, everybody, and thank you, Sylvie. Thank you, sir. Ladies and gentlemen, this does indeed conclude your conference call for today. Once again, thank you for attending. At this time, we do ask that you please disconnect your lines.