Good day, and thank you for standing by. Welcome to the good natured Products second quarter 2021 earnings call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question at that time, you will need to press star one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star zero. I would now like to hand the conference over to your speaker today, Mr. Spencer Churchill. Please go ahead. Thank you, operator. Hello, welcome to good natured's conference call regarding our Q2 results that were released earlier this morning. My name is Spencer Churchill. I'm Director of Investor Relations and Corporate Development here at good natured Products. Thank you for taking the time to join us and participate in our discussion of what we believe is another strong quarter of financial results for the company. I'm joined today by Paul Antoniadis, Executive Chair and CEO of good natured, who will provide an overview of the quarter and commentary on the business strategy. I'm also joined by Kevin Leong, CFO of good natured, who'll be speaking to the results in more detail. If you have not received a copy of the press release, you can access it on the good natured Investor website at www.investor.goodnaturedproducts.com. For those of you unable to listen to the entire call, a recording will be available in the Recent Investor Events section of the investor website. Before I turn the call over to Paul, I'd like to remind listeners that management's prepared remarks contain forward-looking statements within the meanings of security laws, which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. These forward-looking statements include, but are not limited to, expectations surrounding future financial results, new order and customer additions, new product launches, and M&A activity. We'll also be discussing non-GAAP financial measures, the definitions for which can be found in the press release issued this morning. All financial results discussed in the call are in Canadian dollars, unless otherwise noted. With that said, I'll turn the meeting over to Paul. Thank you, Spencer. Welcome everyone, and thank you for joining us today. We are very pleased to deliver another strong quarter of growth, with revenues up almost 240% year-over-year and 200% for the first half of the year. Our second quarter revenue growth was driven by our strategic acquisitions of IPF and Ex-Tech, along with our customer base growing to 800 B2B customers from 600 in Q1, with the Ex-Tech acquisition adding approximately 100 new customers and 100 net new customers added from our organic growth initiatives. The demand for our products was robust across our business groups in both the U.S. and Canada as a result of the lifting of COVID-19 restrictions. It was another transformational and foundation-building quarter for the company. In May, we closed the acquisition of Ex-Tech, which essentially doubled the size of the company on a pro forma basis, adding a business with approximately CAD 33 million in trailing 12 months revenues to December 2020. With the addition of Ex-Tech, we now serve over 200 thermoforming customers across the U.S. and Canada, making good natured one of the largest commercial sheet extruders in North America. The completion of the Ex-Tech acquisition, in conjunction with the acquisition of IPF in December of 2020, significantly strengthened our supply chain capabilities and economics while creating a foundation for future organic growth in both our packaging and industrial business groups. Our in-source manufacturing now includes approximately 150,000 square feet of manufacturing space that is operating 4 thin gauge thermoformers, two heavy gauge thermoformers, and 11 sheet extruders in Canada and the United States. We also announced in July that we have invested to expand our IPF facility annual production capacity by 50% to 33-35 million pounds annually. The production capacity increase is being achieved through an extrusion line upgrade, adding approximately 4 million pounds in new production capacity and the installation of a new high-speed extrusion line, which is expected to be installed next month in the operational quarter 2022. The new high-speed extruder is over 2x more efficient than our existing standard equipment at a similar cost profile and will strengthen our customer experience with shorter onboarding and production lead times. The cost of equipment will be funded with our current cash, equipment financing, and with government grants. We intend to continue our investment to transition our manufacturing infrastructure to high-speed, robotic and energy-efficient equipment over the next three to five years. We also made investments in our operation and supply chain during a period of shifting dynamics driven by external inflationary cost pressures, container shortages, delays in ocean freight delivery, and other disruptions that are taking place within the supply chain. We believe this has created an opportunity for us to gain market share by providing solutions to potential customers who are faced with disruptions within their existing supply chain that are having negative impact to their business. In the first half of the year, we made the strategic decision to build resin and finished good inventory levels in anticipation of market demand from the lifting of the COVID-19 restrictions. The inventory investment positioned us to service our existing customers as their businesses return to pre-COVID levels while further increasing our market share as customers look to alternative materials and supply chains in the face of external supply chain challenges mentioned earlier. Although the inventory investment positions us well to service our customer base and potentially grow our market share, we continue to see inbound and outbound supply chain costs increase due to inflationary pressures that is impacting our logistics fulfillment operation and is expected to continue into 2022. Through this inflationary environment, we will continue to prioritize revenue growth by ensuring strong customer service and in stock levels. We also made investments in people in the first half of the year with a total of over 30 new hires across our sales, marketing, e-com, supply chain, engineering, corporate development, and finance teams. While these investments have required operating expenses and capital outlays from internal resources in the near term, we view these investments as an opportunity to gain market share through shifting market dynamics that were highlighted earlier, while positioning the company for further robust revenue growth going into 2022. Our variable gross profit and gross profit rates for the quarter were in the high end of our range announced on July 20th, 2021, although down year-over-year, driven by changes in our revenue mix that Kevin will speak to in a moment. Despite the challenging inflationary environment, mix changes in our business, and continued investment to position the company for future revenue growth, we improved our adjusted EBITDA, as highlighted by the six-month comparison of adjusted EBITDA, with a narrow loss of CAD 40,000 in the first half of 2021 versus a loss of CAD 348,000 in the first half of 2020. I would like to take this opportunity to thank the good natured team, our partners, for their tremendous efforts in driving the business forward. The growth outlook remains positive, and we continue to focus on expanding the business, leveraging long-term positive macro trends, and taking advantage of near-term industry disruption. Our strategic objectives remain unchanged. We are a growth company that is committed to becoming North America's leading earth-friendly product company. With that, I will hand it over to Kevin Leong, CFO of good natured, to talk through the financial results in more detail. Over to you, Kevin. Thank you, Paul, and hello, everyone. Revenue for Q2 2021 increased 237% to CAD 12.4 million, compared to CAD 3.7 million for Q2 2020. The second quarter included one month of revenue contribution from Ex-Tech. The addition of Ex-Tech also helped further diversify our revenue, with our top four customers representing 29% of total sales, compared to 34% in Q1 2021 and 49% for fiscal 2020. The second quarter 2021 and the first half 2021 variable and gross margin percentages were within our expectations. As we have indicated, gross margins will fluctuate quarter to quarter based on a number of factors, including product mix, in-source versus outsource production mix, and customer mix. Variable gross profit, reflecting gross margins before the deduction of a fixed factory overhead, which includes depreciation and allocated costs such as utilities, insurance, maintenance, and property tax, as a percentage of sales for Q2 2021 was 34.7%, compared to a variable gross profit margin of 44.3% for Q2 2020. The decline in variable gross margins was due to a lower mix of COVID-19 medical face shields and packaging, higher mix of national customers, and higher mix of sales from our in-source manufacturing. The second quarter delivered a higher mix from our industrial business group, driven by the recent acquisition of IPF and with 1 month revenue contribution from Ex-Tech acquisitions, which has a larger concentration of national customers with lower gross margins. Gross margin reflects the deduction of fixed factory overhead, which includes depreciation and allocated costs such as utilities, insurance, maintenance, and property taxes. Gross margins for the quarter came in at 28.3%. adjusted EBITDA for Q2 2021 was a loss of CAD 175,000, compared to a loss of CAD 40,000 for Q2 2020. Finally, the company incurred a net loss of CAD 3.7 million in Q2 2021, compared to a net loss of CAD 1.5 million in Q2 2020. This increase was driven primarily by increases in expenses, including stock-based compensation, depreciation and amortization, and acquisition related costs. Our balance sheet remained solid as we ended the quarter with CAD 83 million in total assets and just over CAD 12 million in cash and CAD 16 million in net working capital, even after having funded the cash portion of the Extech transaction in the quarter, along with capital and operating investments that Paul spoke to earlier. We continue to explore options that will reduce our cash interest payments and enhance our liquidity to support future growth. I will now turn the call back over to Spencer. Thanks, Kevin. Operator, could you now please give instructions for the Q&A session? You have a question from Lisa Springer from Singular Research. Good morning. Congratulations on another good quarter. Thank you. Paul, could you give us a little more color around the new product line, the plant-based trash liners and zipper bags that you just recently launched? How is that being rolled out? Then you mentioned in the press release that it's being outsourced. Could you comment on that as well? Yeah. We're super excited about these two product lines. Obviously, they represent and reside inside of our general merchandise business group. These are large categories, fast-moving categories, and we are rolling them out first and foremost, and cross-selling to existing customer groups. We speak in our management disclosure analysis reports and on calls about national, regional, and small businesses. Inside those segments, there's independent grocers and super centers and drugstores and et cetera. What we do is we start with that customer base, and we introduce these products to. The intent of that, when we cross-sell with our existing customers, we want to grow our share of wallet of their sustainable product spend. That's our first starting point. Obviously after that, we begin with our outbound and our normal outreach that we do with all of our products. As it relates to the second question, Lisa, can you just mark what the second question was? Yes. It was about outsourcing the product line. Yeah. Our outsource and source is an important part of our gross margin mix. Our outsource supply chain, the way it works in this specific product line is we source the materials directly, we procure the resin, and then we take it to a third-party converter, and then we convert the product, and then we obviously package it, case package it, and take it to market to our customers. The outsourced general merchandise category, as Kevin had mentioned, our product mix starts with our business groups. It's a very strong contribution to our overall product mix. We're very excited about that. I think it's got a ton of potential, and just another great indication of our company's ability to organically develop and take new products to market. Mm-hmm. Oh, great. Thank you. I've got one more question. Sure. Could you give us a little color about the 100 customers that were added organically, and then also comment on your success in cross-selling? As we mentioned in our previous calls and several calls that we've had throughout the years, we don't provide any real color on our organic growth metrics until the end of the year, because there's a lot of timing that influences organic growth development. What we do every quarter is showcase our quarter-over-quarter customer count growth. You can see, obviously 100 of our new customers came from our acquisition of Ex-Tech. The 100 additions is a strong indication that our company continues to attract new customers. We're getting a tremendous amount of inbound. The market has got very strong demand for alternative products that we're providing in the market. Our organic levers are centered on landing new customers, like the additional 100 outside of Ex-Tech's contribution of 100, the second is cross-selling, which you highlighted, third is the products that we brought forth, those of the bag and trash lines. They all work hand in hand in driving organic growth. We overlay our acquisitions. I think what makes us unique, as you know, Lisa, as we emphasize, is we're not dependent on one growth lever. We have multiple levers, both on the organic side overlaid with our acquisition that really makes us unique in providing upside in our revenue growth and minimize the downside risk to our revenue growth. Okay. Well, thank you, Paul. Thank you. Great to hear your voice. We have a question from Ahmad Shaath from Beacon Securities. Hey, Paul. Congrats on the solid numbers. I guess one question for me is that I know Ontario is relatively a core, and you have a hub there with the IPF and Shepherd. How much would you think of the, or can you quantify the impact of the extended lockdowns in this quarter, and how have you seen trends as Ontario opened up more towards the tail end of the quarter and into Q3 and as we look into the second half? Any comment on the reopening and the recovery there? Yeah. Well, the reopening, I think it's made a huge difference to the economy in general, and obviously, it's been very robust to specific segments, whether it's hospitality, small business. We saw it across at different levels, obviously. They're not consistent by province, they're not consistent by state. Overall, when those restrictions were lifted, it was a very positive impact to our business. Now, that obviously changed our mix quite a bit, right? Because last year we drove a tremendous amount of COVID-19 testing kit packaging along with medical face shields. The product mix obviously shift as Kevin highlighted. Now, you're posing a question that I don't want to cause any speculations. I don't even want to guess around COVID-19. Obviously, as it relates to future, if the future presents any type of lockdowns, I think what I can tell our listeners here, our owners who are on the call and potential owners is, how is good natured Products going to hold up to future potential lockdowns? I'd say just go back to second quarter of last year. I think you can see that our business model and our team's performance really stood on its head and did a great job. I think we've demonstrated historically that we can navigate through COVID-19 restrictions now. Again, I want to balance that by saying I can't predict decisions that are made by governing bodies at a federal or provincial or state level. I'm confident in our model, I'm confident in our people, and we've demonstrated our ability to navigate that when you go back and look at our history. We're just going to stay focused on our customers, focused on this opportunity that the supply chain disruption has presented to us, navigate this inflationary environment, focused on serving customers and driving growth. I think that's, I guess I wouldn't call it worry, but that's where I put all my energy with my team, is putting that focus on the business opportunities presented and executing on our strategy. That's great. I appreciate that, Paul. Maybe a follow-up on the recent product launches that you guys had on the flex packaging side. I'm not sure if you touched on it, but is the target there direct to consumer, or is it B2B? How do you view the target there? How is the product development pipeline looking? Should we look forward for any new launches ahead of the year end? Well, the product pipeline is very robust. Continuing to evaluate our, what we call our value pools. When we target them, as you know, we either launch an organic product by designing it, developing it, and taking it to market, or we acquire to enter into that value pool or strengthen our position of value. Now, I will say that the flexible film product line demonstrates our ability and our interest in flexible films. We're really focused that product line as an addition to our efforts in detoxifying the kitchen inside your home. Obviously, the kitchen has lots of petroleum-based products that we use every day, I'm sure yourself included. Packaging that we sell fits inside our kitchen, because when we go out and we buy our products that we eat every day, we take them into our kitchen, and we either put them on a counter or we put them in a refrigerator. We eat them, then if there's any leftovers, what do we do? Well, we put them into a storage bag or we put them into a Ziploc container, or we leave it in the exact package. I do that a lot with my cookies. I just leave them in the package until I eat them all. Now, your question around, hey, is there more products coming in this space, and is this going to extend into B2B? I think the short answer is we looked at our high-heat containers. We looked at our zipper bags, our trash bags. Our trash bags are a good complement to our current trash bins that we're selling in the market. The natural answer for us to your question is, yeah, we will continue to develop organic products and take it to market. Pipeline is robust. I would also say, will we extend these into B2B customers? That's definitely a potential opportunity in the future. I can't really highlight today that would specify exactly, but you're right. Like, a lot of folks that if you go into a small bakery, they may be picking up, I'll just speak to they may go to a grocery store and pick up some zipper bags, or maybe they're ordering those through a food distributor. Those markets definitely can get extended into. At this point in time, we have not done that. We're very excited. I know the high-heat container too is being really well received and just another example of our efforts in helping detoxify the kitchen by providing alternative products to consumers like yourself. That's it. I appreciate it, Paul. Last one from me on maybe on the M&A pipeline. How are those efforts going, and what are you guys looking to do? Any update there would be great. Yeah, obviously, I can't speak to any specifics other than what we continue to say. We're focused on our strategy, which is we want half of our growth to come from organic and half of our growth to come from acquisitions. I've always said there's three years where one may be more than the other. Just like our product roadmap, our acquisition funnel is very active. I've always articulated and I will sound boring on these calls over and over again, but we want to be mindful on any acquisition we do, and the only way you can with how we deploy capital into an acquisition. That means that you have to have an active funnel to be able to walk away from deals that are just overpriced. It's active, and that's not going to change for the near future. That's just a big component of our strategy. That's great. Thanks for answering all my questions, Paul. I'll jump back in the queue. Great to hear your voice. Thanks for the questions. Once again, to ask a question, you will need to press star one on your telephone keypad. Again, that is star one. You have a question from Ryan Kennedy. He withdrew his question. You have no other questions in queue. Hi, Ryan, are you there? He withdrew his question. There are no other questions in queue. Thank you, operator. For anyone that didn't have the opportunity to ask a question or wishes to ask the question offline, please send these to invest@goodnaturedproducts.com with your contact details, and they'll respond promptly. Thank you to everyone for joining us, and have a great rest of your day. Ladies and gentlemen, this concludes today's conference call. You may now disconnect.