Good morning, ladies and gentlemen. Welcome to Flow Capital's earnings call for Q2 2026. At this time, all participants are in listen only mode. Following the presentation, we will conduct a question and answer session. 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 Q2 2026 company's management discussion and analysis, which is available on SEDAR. Today's call is being recorded on Friday, August 21st, 2026. I would now like to turn the meeting over to Alex Baluta, Chief Executive Officer of Flow Capital. Thank you very much, Joelle. I am joined on this call today by our new CFO, Matthew Gan. Appreciate everybody attending. As Joelle mentioned, our results are also available on our website and are filed on SEDAR. Today, we're reporting our Q2 2026 financial results. We had another good quarter. Revenue increased 30%, excuse me, for loan interest and royalty income to CAD 4.2 million from CAD 3.2 million a year ago. We had an 88% increase in free cash flow to CAD 1.66 million, up from CAD 884,000 a year ago. We also had a 96% increase in free cash flow per share to approximately CAD 0.06 per share from CAD 0.03 per share last year. And we had a 45%, apologies, 14% increase in book value per share to CAD 1.34, up from CAD 1.17 in the prior year. I should note as well that our equity book value increased from CAD 35.7 million- CAD 39.3 million in aggregate assets on the equity in the quarter. We did have some excellent exits in the quarter, so we also had a CAD 1 million contribution to free cash flow, which is associated with successful exits of some of our investments related to various fees and prepayments associated with such early exits. I should also mention that foreign exchange helped a little bit in the quarter as well. As most of you who've been with us on these calls in the past know that our calls are quite brief. I'll go through a few other highlights and then I'll go to questions. It was a little bit of a disappointing quarter in spite of the decent results on a deployment side. We deployed zero new cash in the quarter and we had several repayments. However, we did have already in Q3 to date deployed over CAD 9 million. This is a continuation of some of the topics that we discussed in prior quarters. There has been some industry headwinds over the past, over a year now in terms of competitive pressure, excess cash in the system, additional players at the low end. As you know, we have discussed this, that we are an evergreen fund and we have no pressure to deploy cash, and we are very selective. I will say we are seeing that stabilize and turn, and we are seeing a fairly strong uptick in our pipeline with a lot of good quality deals. But the slowdown in demployment that we have been experiencing over the last 12 months has slowed our revenue growth, our recurring revenue growth, primarily just as we are more selective in our deployments. Having said that, as I mentioned, I think that is turning. We have deployed, mentioned a new deal just the other day, an excellent company called Aliaswire. Our portfolio continues to be in very good standing. I think it is worth mentioning here as well that we have been making equity investments over the last several quarters in both private companies and public companies. This is not a broad diversification of our strategy. It is more of an extension, and to be honest, the results, the numbers are quite small on the order of several million on an asset pool of over CAD 80 million. But we do it because we have an excellent in-house expertise in diligencing and evaluating both public and private high growth companies, and we are taking advantage of that to make opportunistic equity investments when we see the opportunity. There has been some examples in prior transactions where we have put forward a debt term sheet. For one reason or another, didn't do the transaction. Yet the underlying equity of that company has gone up 7x. We just feel that that is an excellent opportunity for us to add additional value to our stakeholders. Again, it is very modest, but we do now have over 40 holdings in aggregate. Most of those holdings, the vast majority are tied to either loans or warrants and other equity like upside, often we call exit fees, associated with our primary business, which is making senior secured loans to high growth companies. But we also have some equity positions in there now in both public and private companies. As I said, that now numbers over 40 aggregate holdings. So it is increasingly helping us to diversify the portfolio. I want to mention a few other activities and events that happened during the quarter. One, you will probably recognize Matthew Gan as our new CFO. Michael Denny, our prior CFO, is retired. Matt is an internal promotion. Matt joined us five years ago. He then took over our credit function, and most recently he has been promoted to take over the CFO function. I welcome Matt to the team, and I look forward to him helping us continue to grow the company over the coming years. We also moved to the CSE from the TSX Venture. We did have a few clients and investors calling us asking us why, and it is quite an easy story. From our perspective, it is a better exchange. It is more efficient, it is more cost-efficient in terms of fees and fees that they might charge on future raises. It really has no impact on trading given the way trades happen in today's across multiple exchanges and with the technology available. It increased our availability for U.S. investors. From our perspective, there was really no reason to stay on the TSX Venture, and it's been, as far as we can see, a very smooth transition to the Canadian Securities Exchange. I also want to mention, I don't always talk about this, but it's worth mentioning that over the last seven years, Flow Capital has been an aggressive buyer of our own stock. In the year to date, we've acquired about 161,000 shares, acquired and retired. But over the last seven years, we've acquired and retired over 17 million shares at a cost of just under CAD 7 million and at a price of CAD 0.39 per share. We feel strongly that that is an excellent return of capital and use of our funds for our stakeholders. It's also worth mentioning on the AI front, these are very much internal developments, but we continue to invest in development of AI tools. It's actually providing us excellent leverage and insight into our business and our opportunity. I'll just mention some of them without going into much detail, but we have Florence, which is our AI chief marketing officer. We are in the process of building an AI SDR, BDR, or business outreach tool. We have built a competitive deal analysis tool, which helps us analyze transactions in our industry. Who's doing what we've seen, what we haven't seen. We have a deal scoring tool, which is providing excellent insight into accelerating our due diligence on transactions that we do. A fair number of fairly incredible dashboards that provide us insight and metrics. I've probably mentioned this before, is that we strongly believe in our investee companies, and we try to live by the same mantra, which is you cannot manage what you do not measure. These dashboards are helping provide us with additional insights into our own business. It's probably worth mentioning that although not AI, many, many quarters ago, Matt spearheaded the rollout of Chronograph, which is a tool that we use to manage our portfolio. All of these tools are providing us excellent insight, and we're going to continue to invest in these tools over time. I think with that, I'm going to pause our official comments, and I'm going to open it up for questions. Thank you. Ladies and gentlemen, we will now begin the question and answer session. Should you have a question, please press star followed by the one on your touch-tone 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 the two. If you are using a speakerphone, please lift the handset before pressing any keys. One moment please for your first question. There are no questions at this time. I will now pass the call back to Mr. Baluta. Thank you very much, Joelle. In summary, thank you everybody for attending the call. It was another decent quarter. We are very encouraged by the activity that we see in our pipeline. Our portfolio remains healthy. Our internal efficiency continues to improve, and I look forward to speaking to you in three months. Thank you very much. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your line.