Thank you for standing by. This is the conference operator. Welcome to the RediShred Capital Corp. third quarter 2023 financial results and business update conference call. As a reminder, all participants are in listen-only mode, and the conference is being recorded. After the presentation, there'll be an opportunity to ask questions. To join the question queue, you may press star, then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to Jeffrey Hasham, Chief Executive Officer. Please go ahead. Thank you, Ariel. This is Jeff Hasham. Good morning, everyone. I want to welcome you to our third quarter investor call for RediShred Capital Corp. I want to thank everyone for attending on Friday morning, especially those that wake up early on the West Coast, which are a number of you. Of course, it's Black Friday in the US, so a number of you might still be recovering from Turkey Day. Thank you for joining us. I'm also joined by Harjit Brar, who's our CFO. Together, we'll be reviewing the third quarter of 2023 results, and of course, we'll have a Q&A session at the end of the presentation. I do want to let everyone know that, of course, our financial statements, MD&A, and press release are all available on SEDAR for your consumption, as you need it. I would say for the third quarter, an okay quarter. I think, you know, when I look at the operations, operations were solid. Operations, we made a very solid stride, particularly versus last year, even versus the first quarter of this year, very strong strides. We grew our shredding revenue by 21%, versus last year, in the same quarter. EBITDA, though, of course, came in lower by 16%. Now, if you strip out paper out of that, our EBITDA without paper grew by almost CAD 1 million. That's a 121% increase over the third quarter of 2022. Hence my comment, it was an okay quarter. Strong operational profitability set by a strong decline in the paper prices. So how did that happen? How did the paper prices impact our results? So, our SOP is the class of paper, sort of office pack is our class of paper. Those paper prices reverted back to their long-term average. If you recall, a year ago, we were hovering close to $300 per ton, and now we're half that, just a little shy of half that, a little better, though. However, that has had a significant impact, of course, on the results. And we've seen EBITDA decrease by CAD 600 thousand when we compare this quarter versus last year's quarter. So, you know, those historical highs from last year, now we're close to the 10-year average. And I will say, thankfully, you know, we're at that 10-year average and not somewhere below that. And I think that's the good news in all of this, is that the paper prices seem to be plateauing or flattening out as we sit at this point in time. So again, if we sort of look at what we can control, we can control our core business. We can hone in on doing the right things every day. And if you look at our EBITDA margins without the paper, you'll see this. Our margins, the percentage of revenue, improved 500 basis points, and our corporate location operating income, again, less recycling, margins, also improved by 1,000 basis points when we compare to last year at this time. How has that happened? This has happened by very good route densification. This was helped by, in a few regions where, you know, we finished the implementation of some very large acquisitions. The team has done an amazing job of integrating these acquisitions, in the first half of this year, the ones that we did in late 2021 and into 2022. So seeing that happen has been quite satisfying for all of us, and quite timely, if you ask me. When you also look out and look forward, we acquired PROSHRED Baltimore in September. And of course, you know, we're looking at bringing that in and integrating that into with our Northern Virginia existing Northern Virginia corporate location. So Baltimore is a very good operation. We're gonna look to bring those two operations together over the first 6-7 months of ownership. But Baltimore is performing as expected. So, you know, we look at that. We also did a smaller acquisition, Security Shred, a day before we did the Baltimore acquisition. That one, I can safely say, has been integrated. The team in New York, New Jersey, the ops team, the finance team, the marketing sales team have done an amazing job integrating that acquisition. In fact, the trucks that we received with those acquisitions were distributed to other markets. So very happy about that acquisition as well. So looking forward, building on a strong operational platform and operational results, we have a couple of acquisitions which we only saw a little bit of in the third quarter. We'll see more of their results in the fourth quarter and, of course, into 2024. I would be remiss if I didn't take the opportunity here to speak about the investments we've been making. As we've been growing, we need to continue to create the right environment for us to scale without burdening ourselves from extra cost that's associated with growth. The best way to do that is to use technology, and we've invested in technology. Number one, earlier this year, we went with a new customer relationship management tool, Salesforce. It's the best in the business. Integrated into that, we use Pardot, which is our marketing automation platform. All of this together is going to allow us not only to have better closing rates and better advocacy on the sales side, but allow us to nurture market our clients going forward. So we saw that investment. We also took... In this quarter, we migrated to Azure. And why do we migrate to Azure? Azure is the leading cloud platform, and having the right cloud platform is the foundation of our technology stack. Azure is the language that allows us to link all our platforms. So Azure provides a number of things: speed, security, and linkage between our platforms, so we can have them talking to each other, reducing double data entry, reducing administrative burden that comes with our type of business, where we have thousands of transactions on any given day, and they're all small. So having these things talk to each other, this is going to help us for many, many years because we're using the best in the business. We're using the Salesforce, Azure. Our workflow software is the best in the business. Our routing and tracking systems are the best in the business. So these will pay dividends for many, many, many years, which we've done this year. The last thing we've invested in this year is a SOC 2 certification. As an information protection company, you know, having this certification allows us to do more business with governments, both on the shredding side as well as in particular, the scanning side. Our scanning business is growing, which you can see in the financial statements. Harjit will talk to that. And having that certification will allow us to capitalize on larger scanning clients, government, large institutions. So this year, the investments that we've made are going to really, really pay off. I think the team has done a great job at polishing our rocks. They've done a great job at finding those operational opportunities and savings and efficiencies and the right densities. I can't thank everyone enough for what they've done there. And now the ability to invest in new technologies to allow us to be even better, that's pretty exciting for us. So we're looking forward to... We've already started deploying Salesforce. Azure has just been deployed. The integration of those tools will be next year, in terms of our workflow and our Salesforce. So the number of things that are on the go, that are going to be very beneficial to us, and allow us to scale with more leverage. That's really what we wanna do, scale with more leverage. So on that note, I wanna turn it over to Harjit, who will give us the incremental color on our financial results. Thank you, Jeff, and thank you again, everyone, to those who are able to join this call. In terms of our financial results, our top line revenue grew by 5%, grew to CAD 15.4 million, compared to CAD 14.7 million in the third quarter of 2022. If you look at the revenue growth from a service line perspective, our shredding revenue grew 21%, as Jeff noted, with scanning sales growing by 17%, and our e-waste revenue being comparable to the third quarter of 2022. Recycling revenue, of course, decreased, as Jeff noted, and that's of course, driven by lower SOP pricing, which has now reverted to sort of its longer-term average. If you sort of translate the results on a per-share basis, EBITDA came in at CAD 0.17 per share for the quarter. That compared to CAD 0.20 per share in the third quarter of 2022. Stripping out paper, EBITDA less net recycling revenue, that grew by CAD 0.9 million, so almost CAD 1 million there to CAD 1.7 million. So in terms of how the results translated from a cash flow perspective, so our free cash flow, free cash flow was CAD 2.7 million for the quarter or CAD 0.15 per share, so a strong FCF conversion rate. If you look at Q3 2022, we were at CAD 0.03 per share from a free cash flow perspective. So, you know, if you look at the free cash flow, you know, what was that sort of being generated by? So that's again, driven by strong cash generated from operations. Our EBITDA was translating to, you know, strong cash flows from operations, and that's offset by some CapEx, which we had $0.8 million in CapEx. As you know, our CapEx is primarily sort of comprised of shredding truck purchases. That is our largest CapEx item. You know, if you look at sort of our capital resources right now that we have on hand, you know, we have $3.6 million. We still have some additional capacity under our existing banking facility as well. So again, some strong capital that we can deploy to continue to grow the business and to execute on any sort of items in the M&A pipeline. And so that's an overview of the financials. I will turn it over now to Jeff for some closing remarks. Thank you, Harjit. Wanted to let everyone know that, we always put our head down, put our hard hats on, work on the business, and, I do want to take a moment to thank, a number of our employees, and leaders, for doing that. And that's what we're gonna go do right after this call. We're gonna work on the business, see how we can improve, what we've been doing, how we can continue to deploy the technology to be even better at what we've been doing. Like anything, things get thrown at you in a business, in this case, paper prices coming down, that's certainly been a challenge. So you have to just be smarter about how you run your business, and we are taking the moment to do that. Going forward, we're even better off when paper prices go back up and then when paper prices eventually come back down. We want to be in a better position every time that happens. I will say we are certainly in a better position this time around than when it happened last time around in 2019. We're in a much, much better position, much better operationally, and with the technology rollouts that are happening, we're gonna be much better off the next time this happens. I want to state that, you know, look, the year is still a good year. The year is still performing. The company is producing cash flow. The company management leaders are being mindful of everything, and we will continue to do so, and we'll continue to work hard on behalf of our shareholders and on behalf of all our stakeholders, to finish the year very strongly. So I want to thank everyone for their support, and I will pass it to Arielle to open it up for Q&A. Thank you. We will now begin the question-and-answer session. To join the question queue, you may press Star, then One on your telephone keypad. You will hear a tone acknowledging your request. If you are using a speakerphone, please pick up your handset before pressing any keys. To withdraw your question, please press Star then Two. To join the question queue, please press Star then One now. Our first question comes from Devin Schilling of PI Financial. Please go ahead. Hey, good morning, guys. Good morning, Devin. Just if we could talk on paper tonnage here a little bit. I see, tonnage was down a little bit this quarter versus both Q1 and Q2 of this year. Maybe if you just comment on what was the driver here, and I guess how should we be looking at tonnage going forward? Yeah, a little bit, a little bit. Our scheduled revenue growth has been quite good. Our recurring revenue has been quite good. Our purge revenue has been a little, it's still growing, just didn't grow as much as we anticipated. Some larger purges that we typically get into Q3, we're working on those for Q4. And so typically, those purges drive a lot of your tonnage because you get more packed paper in the boxes. So our take on that is there's a little bit of timing that's happened there. Again, Q4 seems to be a little bit, a little bit better start so far to Q4 than we typically have. We'll, again, everyone's really gunning for it, and I think we'll see a few extra purges in the fourth quarter. That's what we missed out on a few of those larger purges in Q3, and that's the problem. We don't, we actually had more number of purges this Q3 than last Q3. Just, they happen to be smaller this year than they were the prior year. And in some quarters, you get some big ones that are... So that chunkiness does appear, and that's why the tonnage was a little bit reduced. Okay, because it's more of a revenue mix item here. Sure. Okay, just a second question on the scanning revenue. It was obviously a pretty nice increase this quarter. To comment, was this like some new customer wins or I guess just timing of some existing business? Yeah, you know what? No, it's, I think, the team there has done a very good job at, A, number one, with our existing clients, mining those existing clients. We have a number of long-term repeat type clients, that continue to buy. We had some newer clients, some smaller, newer clients, which we love. Those are, you know, PROSHRED clients, and some smaller clients that have joined up. So some net new client gains there, which is very good. And, you know, as we've built this business, you know, our goal here is to really create pipeline. This is a business where, you know, you're trying to look out forward and you're trying to create pipeline of boxes essentially to bring into your facility. So, you know, right now, we're not working on Q4 pipeline. We're working on Q1 and Q2 pipeline. That's what we're working on right now. So I'd say that the entire team has done a very good job at driving pipeline more in advance, managing the box flow for production. So obviously, we earn revenue not on what we book, but on what gets produced. And the team is much more consistent there. So, you know, kudos to them. That's why we've had the growth and, you know, we view this business as one that we can continue to grow in a very good way. ... Okay. Yeah, no, that makes, that makes sense here. I guess just last one for me here. Just on the SOC 2 certification, it's, did you say this was already completed or just underway right now? It's under where we, this year is preparation year, so doing all the preparation. Part of the move to Azure was preparation. We need to move to something that is faster and more secure, all those kinds of things, in any event. But we figured if we're gonna do all this work, let's get a certification. So we're really a good chunk of the way in. By Q1, we will be, we'll be ready for the Type 1 certification. And then that's great. Type 1 means something. It means something to those clients that we're trying to attract, and a number of clients that have already said that, you know, they would love to work with us, if we had that certification. And then the Type 2 happens about a year later because the Type 2 is sort of an annual audit. So the Type 1 that sort of gets you in, gets you into the dance floor, and Type 2 keeps you in the dance floor. So we're well underway. We've made a lot of progress, both on the technology side, the process side, the control side. So that's... This is a very good thing. And, you know, we're getting close to finishing the job there. Okay, perfect. No, that's, that's everything for me. Thanks, guys. Thanks, Devin. Once again, if you have a question, please press star, then one. Our next question comes from Nick Corcoran of Acumen Capital. Please go ahead. Morning, Jeff and Harjit. Just a quick question. The first is on the CapEx. I saw it came down quarter-over-quarter. Can you just comment on how many trucks were delivered in the quarter and your target for the year? Harjit, do you want to take that one? Sure, Nick. So in terms of the truck CapEx, so we did purchase two trucks in the quarter. So, the way our CapEx works obviously is that, you know, there is some timing sometimes. So, you know, depending on sort of what, when sort of the orders come in, when we're able to get the trucks, it does create some timing issue. But saying that, I think we're very prudent on the CapEx front, so we're really keen on making sure we're sort of getting trucks, you know, as we truly need them. Very mindful there. I think as you, as we continue to grow and scale the business, I think that CapEx percentage, especially if you compare it as a percentage of revenue, that will sort of continue to sort of slowly come down, if you sort of look at that from sort of a medium to longer term lens. Can you just remind us how many trucks are being delivered year to date? So year to date, we've had about, I think about approximately, 12 trucks-15 trucks. So, sort of in that range. Do you have any more trucks expected to year-end? We do. We're probably gonna have another three to four trucks coming in in Q4. Okay, that's great color. Then, I used to think about the margins. I think they came down more sequentially than I expected. Can you comment what the impact of diesel prices might have been in the quarter? Sure. So when you say margins are coming down, are you looking... What, what margins are you referring to specifically? Yeah, sorry. I'm looking at consolidated EBITDA margins between second and third quarter. Oh, okay. So that consolidated EBITDA margin, that's actually all driven by paper, that decrease. If you actually look at the consolidated EBITDA without the recycling, our margins actually went up 500 basis points. So that EBITDA, that decrease is actually driven more by recycling prices. Fuel costs were actually pretty decent for the quarter, so there wasn't a lot of volatility over the summer, so they were pretty comparable to the first few quarters. That decrease is, it's, you know, operationally, we did improve quite a bit. So that's, that's just a function of, SOP prices, more so. That's helpful. And then maybe thinking of the fourth quarter, I think there's been some seasonality. How should we think about the, the margins? Sure. So in terms of Q4, historically, yes, it's been, the margins have been sometimes sort of, been a little bit more compressed, relative to... Especially when you look at Q2, sort of the summer and sort of earlier in the year. Part of that has to do with sort of the timing of when things happen, the number of business days and such. What we're noticing this year is some of the stuff that typically happens in Q3. I think Jeff just alluded to it as well. There's some of it's timing, some of it has gotten pushed out to Q4. So we are seeing a bit of a stronger start to Q4 than we typically expect for Q4. So that's positive news for us. So, all in all, it's sort of difficult to say where we're gonna land. But yes, historically, Q4 is a little bit lighter, but this year, again, we started off a little bit stronger than we were expecting. Thanks. Well, Well, that's a lot. Yeah, thank you. Once again, if you have a question, please press star, then one. This concludes the question and answer session. I would like to turn the conference back over to Jeffrey Hasham for any closing remarks. Great. Thank you very much. Thank you again, everyone, for joining the call. Right after this call, we'll go back to finding ways to finish the year in a strong way. We want to win Q4. Everyone has that mantra this year, is to win Q4, and we're looking to win it, and set us up well also for Q1 and Q2. And so everyone on the sales team is working on driving more scheduled revenue. We're going to win Q4 not only by winning scheduled revenue, but by winning more event-based revenue, closing more executing on our scanning side of the revenue, and being mindful of our operating costs and all our costs. So we're all going to put our head down and go polish those rocks in a better way and try to come out of the year as strong as possible. Paper prices will be what they are, so we'll deal with what we can do and what we can control, and the team has done a great job. So I want to thank the team. I want to thank our board of directors. I want to thank our shareholders. I want to thank our partners. I want to thank everybody who's worked with us. And for our American friends, Happy Thanksgiving, and we'll talk to each other soon, I'm sure. Bye-bye. This concludes today's conference call. You may disconnect your lines. Thanks for participating and have a pleasant day.