And then land the largest player in the field of where our technology sits to actually license our technology. And so all these things are lining up right now where we're actually funded well for the first time, and we're able to go after customers and really expand our market. But at the base of what INEO does is we are a technology company that has produced a much-improved loss prevention sensor system for the front entrance of retail stores. You know those. That's one on the right here. You see those things at the front entrance of retail stores that detect tags on labels on merchandise that hasn't been paid for, and an alarm goes off. That's the height of the technology. 30-40 years of this technology being in retail stores, when they detect a tag, they beep. That's all they do. They beep. And in the meantime, the retailers are finding out that this is a great place actually to put some advertising because it's the first thing a customer sees at the end of the store, last thing they see before they leave. And so they're hanging cardboard sleeves on these things because cardboard is impervious to the radio signal. It goes right through. It doesn't interfere with them. And so that picture in the upper right of my screen is actually taken from a front entrance of a Walmart store. So that's the height of the technology today. We've come along, and we've created a connected device, number one. We can know when the systems are on, when they're off. We know how many alarms a day happen. We know when the alarms happen. We grab video from the alarm events, and we stream that to a dashboard that the retailer can see either in real time or review later. It gives them operational intelligence around these systems. It allows them to, you think about it. If we know which stores have more alarms than others, we can go, "Okay, what's going on in that store? Do we need to realign the front end of the store so the customer can't get, the thief can't get out as easy? Do we need to have somebody at the front door at certain times of day? Do we need a security guard at certain times of day?" Things that they can't even answer today. You walk into one of these stores, you ask them, "Did your alarm go off today?" "Oh, yeah. When?" "I have no idea." We give them that intelligence so their loss prevention teams can engage. The video is a huge part of it because what we allow that to do is they can analyze events, see it. But more importantly, we've created an AI technology behind this where we analyze all of the video events, and we can show the retailer and give them exception reports for events happening at that store or other stores in the region, mostly for organized retail crime. So if you think a store gets hit at one point in the city, five miles down the road, we'll look at the videos from the other end and say, "Oh, it happened to you again. Here, you need to get on this. You need to investigate it. You need to stop it," and we'll give them the backup so that they can actually prosecute afterwards. That's the loss prevention side. We win by having way better loss prevention, but in the end, it's all about that digital screen because the digital screen changes the game for the retailer. Right now, this is a capital cost for the retailer to put these systems in. They leave the old ones in there way longer than they should just from the simple fact of they don't have the capital to spend on it. The loss prevention department is on top of the list, but now we put a digital screen in it. They can actually make money off these systems. They can pay for themselves in less than a year. I'll walk you through that in a couple of minutes here. The retailers are really pushing hard into retail media, and they're driving a disproportionate amount of their profit from retail media, mostly on their website today. But only 20% of their traffic is on the website. 80% is in stores. So they're starting to push down to screens in store. Replacing those cardboard sleeves with digital screens elsewhere within the store, we give them the ability of doing that right at the front entrance. And our patents protect us that we're the only ones that can do that. So there's a lot of money to be made from the retail media selling advertising on these screens within the stores in logical places that look really good within the store. And we're a logical place because they're already doing it. And then on the flip side, we help them with that bottom line, preventing loss. There's so much theft going on out there. Some retailers, I think Target was one of them, they reported that their quarterly numbers were substantially impacted by theft from the stores. We give them a much-upgraded visual deterrent for these systems. Right now, we use mostly RFID tags, but the retailers are going to RFID tags, which means we know the item level that's being stolen, and we've put in some of these systems in where when the thief is going out the door, alarm's going off, we're capturing video. We're showing the product that's leaving the store at the time, blue extra-large T-shirt, and we're showing a picture of that person that's taking it on screen, so now it's just not that somebody stole something. We know what time of day it happened. We know the product they took, and we have a visual identity on it that they can use for later prosecution. So really putting together a product that is right for the time. Our first big customer that we were able to land was Staples. Staples, great frontline retailer. Still a lot of traffic within their stores. And so far, we've deployed 192 of these locations. So I said at the top of the slide, technology is real. It's not theoretical. It's out there. It's working. It's doing its thing. It allows the loss prevention team to really up their game in terms of helping the store reduce the theft numbers, but on the other side, provides a revenue stream from the digital media aspect of the screen. We are on the verge of landing a very large order. We've had a pilot system that's gone in with a retailer in the U.K., and we have 45 systems out there. I'll run through just some of the general economics of these. These aren't exact numbers, but they're close enough so that everybody can get an idea of what we do. We sell a system for about CAD 5,300. Comparable systems from any of the large other manufacturers out there are right around that number, maybe even a little bit more. So the hardware is in the game. We charge a monthly fee to connect that system so that they can see from the dashboard all of the capabilities, all the features that they need, how they manage their system. But we also connect it into either our content management system to feed it advertising, all the programmatic channels out there, or we connect to the retailer's own content management system that they might already be using for serving ads on their website and serving ads within their store environments. And so what we're really after here is, yes, we like selling the hardware. We've got a very good mousetrap on that side, but it's really about that recurring revenue. It's generating that monthly fee that really adds up. And as you can see on this first customer that we were talking about in the U.K., the monthly fees with just a small portion of this order are really adding up in a hurry. This customer actually has over 10,000 of these systems out there, 10,000 archaic systems that need to be replaced. We really believe that we'll be able to replace at least 1,500 of them within the next 12 months. That will deliver us almost CAD 2 million in recurring revenue. For a company with a $4 million or $5 million market cap today, that's going to make a big difference to the numbers that the market can extend out there and see what we're going to do as we land more customers. And kind of the, I guess, feather on the top here that really shows how our technology is going to take this market by storm is Sensormatic, who's the largest player in the space. Sells close to $1 billion worth of loss prevention systems a year. They're owned by Johnson Controls, a $25 billion company in its own right. They have over 500,000 systems out there. They tried to build around our patent. They built a system that bolted to the side of one of their systems. It was a long, narrow thing. There were a few problems with that. One, no advertiser made any content in that aspect ratio. Two, it looked really weird bolted to the outside of the system to try and be around the patents. And three, it didn't work. Some of the technology and the patents that we have to make this thing work. It was a lot of inventiveness by INEO to get this stuff done. And so Sensormatic came to us, and they've now licensed our technology, licensed our technology to put in systems that they will put out there for their customers. And Sensormatic's got a who's who of who the customers are out there. They will go after these. We're going to go after them directly as well. There's nothing to stop us from getting customers directly. We're going to work with Sensormatic where it makes sense, and we'll go after customers ourselves where it makes sense. So I think you'll see a combination of that going forward on who is the company of record on which account. And if you just look at just the Sensormatic market, now you've got to remember there's Checkpoint, another very large loss prevention company out there, not as big as Sensormatic, but large, Nedap, and a few others out there. And we were just looking at the Sensormatic market today and how many systems that they have in the field. Obviously, we're not going to get every system. But our one customer that we've on the verge of landing here could generate us 12 million in recurring revenue if we got all those stores rolled out. And it's a top 10 customer. Staples is probably in the top 20. But those top 10 retailers, if we just get even the top 10, our section of them, very large numbers. So we're looking at this. Licensing fees and subscription is the focus of the company. Yes, selling hardware is a means to an end. We have very good hardware. It's better than anything out there. Well-thought-out system. The software is actually the secret sauce of it. We were very good at software. I think that's where we get underestimated a bit is that the software that runs these, the firmware on the devices, then our online platform, our AI component on our organized retail crime, that is extending our lead on innovation. That's putting us further ahead, allowing us to really leverage this marketplace. So just some illustrative economics then. With installation, you've got the price of the hardware. You've got the installation cost. It's $7,000-$9,000 per store to install these things. We make a decent gross margin. We make a good margin on our services, very good margin on our services. It scales very well. We've got platform costs, Azure costs, a little bit of support costs, but not much else in there, and then the retailer, very reasonably, can generate $800 a month. I'll be shocked if that's anywhere near the high end. The high end will be over that for the best retailers. We have a lot of traffic, and they also have capabilities in terms of their retail media team. The payback's going to be under 12 months. We're forecasting for 2026, which ends at the end of June for us. Our year-end is the end of June, 800 units. We're almost there already in terms of orders that we believe we're going to be able to book. We don't have them all booked today, so we're still a work in progress. In 2027, our target is 2,500 systems. We'd like to be able to blow those away, but that's the bottom number that we are going to generate and we'll put out there. And as I said, we're extending our lead. We're not sitting on our laurels here. We're making sure that this product gets better and better. The competition hadn't innovated for years. We're possibly waking them up a little bit, but at the same time, we're out ahead. We're giving the retailers new features, new things that they can take and get. ORC is going to be an over and above. It will be a charge on top of our base platform in terms of a monthly fee. RFID is really starting to happen out there, and we love that because it gives us other feature sets, like I said, down to the item level, what we're losing, being able to overlay with video, that type of thing. Walmart's really pushed RFID on their vendors. If you're shipping a product to Walmart right now, in most categories, you need to have RFID tags. So it's kind of happening by default. And as soon as that gets pervasive among the retailer, it's going to really help us as well. So the premise of we're talking every way today, we think it's a great time to invest in INEO. We've got solid growth happening for this year. We've got customers lined up that will take us to profitability and then massive upside in 2027. Market cap is very low right now. We just did a raise, brought in some fabulous new investors. Probably about 60% of the new investors came from the U.S. We're looking at what we do in terms of the capital structure of the company. But in the meantime, we're just driving the business and getting customers. It's really out there now for us to get a land grab. We're funded. We're able to go after these customers, and we're just going to keep innovating. For the cap table, as we say, it is a little large in terms of number of shares out there, but they're all in good hands now. We have a very solid investor base, feeling very good about the people that are there and the like-mindedness of the mission that we're on. The public float is a subset of that, of course. So even within that public float, if we went down about 25 investors, we'd really drill that down even further. There's not that much really out there in terms of it, but we'll deal with that at the right time. And as we look at strategies, be more U.S.-centric. And as far as the board, we've just added two new members. I need to get them on the slide. I'll call Greg the founder. Greg's the technical genius behind our products. He runs the operations of the company. Very good on the business side too. If anybody wants to talk to anybody other than me and Amit on the business side, Greg can step in and hold his own on anything there. But he is the one that really showcases the product and showcases the technology to our customers and potential customers. Steve Matyas ran Staples. He was the head of Staples. He ran Canada for years and then folded him down and ran the U.S., lucky enough to have him on the board. We just added new people. We added Manzar Ali from the media side of the business. We wanted some more influence from people that really understood the media aspects because a lot of times we're not just selling within the loss prevention areas and the operations area of retailers. We're going after the media retail media divisions because they're the ones that are generating the cash and will likely fund a lot of the systems going out there. And then also another gentleman that just, Gino Gualtieri, who was on the IT side of a lot of big retailers. So he's been a nice addition. And that's it in a nutshell, everyone. I will turn it over now to Ashi for questions. Thank you so much for the presentation, Kyle. I would like to remind everybody, if you have any questions, please submit them at the Q&A section at the bottom of your screen. Kyle, can you tell us what the core use case is going to be going forward? Is it loss prevention, advertising, data analytics? What's the main focus for somebody to get the system? Yeah, it's interesting on that. I think we're going to see it migrate over time to being just really media and analytics-centricity, right? That's the core capabilities of two of the three core capabilities of the system that we actually downplay a little bit right now. Today, we enter through the loss prevention teams because they own that space. That space for those systems are theirs. To upgrade that space, they have to have a system that's going to do the job for them. And we're winning deals based on having great loss prevention capabilities that also has this other aspect. And then they have to make the crossover to the retail media team, who a lot of times is in the same building. How often does loss prevention talk to marketing and media, right? So we have to bridge that connection. We believe in the future, a lot of it's going to be driven down from the media side because of just the sheer numbers that they're putting up for the retail and the profitability on that side. And they will drive it. And loss prevention will come along for the ride and get new equipment, get new capabilities, new opportunities based upon the feature set. And analytics is one that we haven't even scratched the surface of, everyone. We actually count traffic going into the store. One, you need that for advertising purposes, but we also do that in the sense of giving the retailer the ability of doing conversion numbers, what's our traffic versus sales, that type of thing. So there's a lot more we can do on the analytics side because of what we offer within these systems. Right. And how much annual license revenue do you expect from Sensormatic? And what is the expectation in 2026 alone? Yeah, we have not broken out those numbers publicly, and we won't possibly. We'll start doing that next year. Sensormatic licensed our technology a year ago. They're behemoths in their own right, dealing with big, large customers. So they've been out putting the systems in front of people. They've got a bunch of test systems out there. We expect a lot of upside for them. We kind of say Sensormatic is inevitable. It hasn't happened yet, but inevitably, that machine will turn and start having their new deals feature our technology. So there's a couple of different ways Sensormatic will do that. One is they might buy and sell our systems, which might be a possibility, or they are going to manufacture their own, and we could see a combination of those things happen. Right. Okay. Can Can you talk a little bit about your sales cycle and what are the biggest friction points that are delaying the conversion from pilot to full rollout? Yeah, the sales cycle with large retailers is generally, I would say it's nine- 12 months, right? Presentation happens, get them interested, get a test system into their headquarters, get the test system in some stores, has to operate in the stores for at least three months, if not six months, and then final deal and get to rollout. So it's not super quick, but it depends on the size of the retailer. Amit has turned a few retailers fairly quickly. We've got some other test pilot systems going right now with retailers that we've done directly. And we're hopeful on those coming to fruition faster than that cycle. But generally, I would say the sales cycle is nine months to 12 months on a major retailer moving it. They do things properly. And there's a lot of things that go into this in terms of IT infrastructure, authorization, operations, and tying into the media. So we've done a lot of the background work to actually make us hit those numbers for 2026 and 2027. And then with the work we're doing on top of that, we expect a lot more going forward. Right. And talking a little bit about your revenue concentration, can you give us a little color on how much of your total revenue comes from your top customers and how do you plan on diversifying your customer base? The new customer that we're at is going to put a lot of our revenue for 2026 from there. I don't think we have a customer today over 40% of our revenue, though. It's not concentrated all in one. We like the aspect that we have U.S. customers. We like the aspect to have Canadian customers, U.K. customers. It's good to have them in multiple jurisdictions. Right now, our product is produced in Canada, so at the moment, it's tariff-free into the U.S. Anything under USMCA still is moving through duty-free. We're duty-free into the U.K., and we're looking at other places in Europe as well. We've presented at multiple trade shows around the world and getting a lot of interest, and like I say, there's deals that Amit's got going that are just moving along, but we don't typically talk about them until they get beyond the test stage. Okay. Also, can you tell us when was the Sensormatic deal announced and when do you expect to hear more sales announced through that channel? Yeah, it was originally announced about a year ago at NRF 2025. We did the licensing deal, and it's taken us a bit to get to this point with them. I wouldn't say we're discouraged with the progress. We would obviously love it to go away faster, but the things that they've lined up are good. So fiscal 2026 or fiscal 2027, which starts on July 1 for us, we're expecting a lot in that year, and I say a lot, a measurable percentage of our sales from there. Right. And have you received any licensing revenue yet? And are there any minimums that they have committed to? Can they reprofit their installed base with your technology? Yeah. So there was an upfront fee, which Sensormatic has paid, licensing fee. And then there is a percentage of everything they sell of products that would otherwise infringe our patent. So as they roll out deals, we will get a percentage of all those deals. And that's where that revenue is going to come from with them. That's the way it works. There's also a platform piece, which we're working with them on in terms of using our online platform, our content platform, and our dashboard and a few other things. So there'll be multiple revenue streams from them. For 2026, it's still going to be minimal. But like I say, for fiscal 2027, starting July 1, we expect a lot more. Right. And can you talk about the financing needs for large orders? Do you think you will need access to the capital markets in 2026, or do you have enough cash? And if you can just talk about how much cash you have on hand and what's the cash runway looking like? Yeah. So we just raised $2.3 million, and December 23rd, we closed that. We'll report the December quarter at the end of February, and at that time, we'll give an update on what the cash position is, but $2.3 million raised on December 23rd. That is enough for us to execute with the customers we have and get to profitability. We are very committed to that. Are we going to raise more money? Opportunistically, we definitely would. If the share price appreciates to the right amount and we have a use for that cash to help us accelerate and go faster, we definitely would. We wouldn't raise money just to raise money at this point in time. It wouldn't make sense. We are interested in looking medium term at an uplist on a U.S. senior exchange, and we'd have some work to get there, obviously, capital structure-wise, asset-wise. So that is part of our thinking. We're not 100% committed to that, but we will be looking at that throughout the year. Right, and just to follow up, what do you think are the main reasons why your market cap is so low at this point? Because the company is clearly doing good. The technology is great, so. We had a large shareholder that liquidated most of his stake over the last 45 days or so. There were early warning and insider reports filed on that. Went from 80 million shares to 30 million last month. So there's been a lot of selling from that position. The good news is it all moved into good hands. We know where almost 100% of it went to, and it went to shareholders that, I say, are committed to the mission of INEO, on board, like-minded, and want to move along. We believe after that selling subsides, we will see some appreciation. And that really dropped us from CAD 0.04-CAD 0.05 to CAD 0.015. Even at CAD 0.04-CAD 0.05, we think we were undervalued. So it's up to us now to perform, right? It's up to us to put out numbers that will incentivize investors to buy our stock. And we're working very hard to do that. And we'll keep doing other things to try and take away the noise around the edges of the company and really clean up our structure going forward. Right. And if we can just talk a little bit about your competitive landscape, what are you competing on? Is it the price, the functionality, or the outcomes? And who do you view as your primary competitor today? Yeah, we're not competing so much on price. We're competing on trusting a young, small startup for this important part of the company, proving that we have the capabilities to do what we're going to do. And really, it's this very unique offering of combination of loss prevention with digital media. The retailer is going to put screens around their stores. There's no doubt about that. But they also don't want their stores looking like Times Square, screens everywhere and distracting customers. They're going to put them in logical places. They're already selling advertising draped over these systems at the front. So we're a logical place. So as the retailers expand their strategies of a big sign in sporting goods, a sign over the deli department, what have you, right? As they put that, ours will be logically one more screen that they can put. And we have patents on these systems. Nobody else can put a screen in a loss prevention system at the front door of a retailer other than us or our licensees. So what's our competition? There are other loss prevention companies out there selling products, so it's them. We've enabled Sensormatic to compete in this market with us. In some sense, we will compete with them slightly on some things, but more often than not, we'll look at other opportunities from what they're looking at. And I think what you'll see is it'll be how does INEO integrate itself into that whole retail media in-store ecosystem? Because the retailers are devoting money to that right now. They're spending a lot in terms of their alliances on the demand-side platforms, on the programmatic sides, and the agency sides. We are committed that we're a very API-centric company of fitting our technology into the other technology that they're going to use within the store so that we're seamless. It doesn't matter who else you guys use, we will be able to work with them and slide ourselves in there, and so in the end, it's going to be INEO's overall capabilities of being adaptable and providing custom fit with all these retailers without having to customize ourselves. We've built our platform that way from day one that we can work with anybody. Right. With that, we're at time, Kyle. Thank you so much for your time today. We really appreciate it. And I'd like to thank everybody in the audience for joining us today. Thank you so much. Thank you, everyone.