Thank you for standing by. This is the conference operator. Welcome to the RediShred Capital Corp third quarter 2024 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 will 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 then zero. I would now like to turn the conference over to Jeffrey Hasham, Chief Executive Officer. Please go ahead. Thank you very much. Good morning, everyone, and welcome to RediShred's third quarter 2024 investor call. I want to thank everyone for attending this morning. I'm joined by Harjit Brar, our Chief Financial Officer, and together we'll be reviewing the Q3 2024 results. And of course, as usual, we'll have our Q&A session at the end. I do want to remind everyone that our Q3 2024 financials, MD&A, and press release were disseminated yesterday, and of course, they are available on SEDAR. Before jumping into the third quarter, I do want to touch on one important business development. As many of you are probably aware by now, on November 21st, the company signed a definitive agreement with Vital Records Control, or VRC. VRC will acquire all the outstanding common shares of the company for cash consideration of CAD 5 per common share. This transaction is subject to shareholder and court approval and other customary closing conditions. You can find more information on this transaction in the joint press release that was issued by the company and VRC on November 22nd, 2024. The purpose of today's call is to review the Q3 results, so we won't be fielding any questions regarding the proposed transaction during the Q&A component of this call. There will be more information coming in the weeks ahead, so please stay tuned for those pieces of information as we move forward. So with regards to the third quarter, the third quarter was solid. For me, the good news is we continue to grow our service revenue, in particular our recurring service revenue, with shredding revenue up CAD 2.5 million, a 20% compared to last year, of which CAD 1.5 million or 12% in organic growth year over year. So solid organic growth. On top of that, we had some acquisitions. So our organic growth has been driven by continued growing customer base, price increases that we pushed through in the summer. All of that combined has led to a very solid organic growth rate as well. Again, when we add the acquisitions, we've had some solid growth in the quarter when compared to last year. Recycling sales, they were up 3% compared to the third quarter of 2023. The good news here, this has been driven by tonnage increase, muted and offset by lower paper prices. So the tonnage was able to overcome the lower paper prices. Note paper prices have been more stable this year. So most of this year, we've been hanging around the 10-year average for paper. It has been lower than we were looking for, but not too far off. Obviously, when we look at 2023, the start of 2023, there were very high paper prices. We're sort of in line with what we were thinking. On the acquisition front, we completed the acquisition of Confidential Shredding. It's a good tuck-in acquisition in the New York, New Jersey market. As we move forward here into the fourth quarter, well into the fourth quarter, we're expecting to see that scale, that route density pickup, all of those wonderful things in our operations in those regions. Another nice acquisition for the company. On that note, I'm going to turn it over to Harjit, and Harjit will give you some more color on the financial results. Thank you, Jeff, and thank you again to everyone who is joining us on this call today. So in terms of our financial results, our top-line revenue for Q3 2024, it grew to CAD 17.9 million. That compares to CAD 15.4 million in the third quarter of 2023. And as Jeff pointed out, that's driven primarily by strong service revenue growth, both organic and acquisition. So in terms of how that translated to the bottom line, we were able to grow our EBITDA to CAD 4.1 million. So that's up about CAD 1 million from the comparative third quarter in 2023. So speaking of same-store organic growth, that revenue, it was up in totality CAD 2.5 million. Jeff spoke more about the service revenue, but overall, we were up CAD 2.5 million, or 17%. And then when you strip out some of the impacts of paper, we're up CAD 1 million from an EBITDA no paper perspective and an EBITDA perspective. So from a year-to-date perspective, through the first nine months of the year, total revenue grew to CAD 53 million. That's up from CAD 49.1 million in the first nine months of 2023. And our EBITDA is at CAD 12.7 million. From a cash flow perspective, our year-to-date free cash flow is at CAD 5.8 million, or CAD 0.32 per share. That's driven by CAD 9.7 million in cash generated from operations, offset by CAD 3.9 million in capital expenditures. As Jeff noted out, during the third quarter, we did complete the Confidential Shredding acquisition. We've also completed a few acquisitions earlier in the year with Select Shred and MDK as well. So overall, I would say a good first nine months of the year and a good third quarter. On that note, I'll turn it over to Jeff for some closing remarks. Great. Thanks, Harjit. Yeah, look, I want to thank, first of all, all the employees at RediShred Capital Corp. I want to thank all our franchisees, all of our board members, all of our shareholders for the support in the business, for the hard work, for making RediShred a great operating company. I think the results that Harjit and I just went through are indicative of the work, and the results came, which we're very grateful for, especially on U.S. Thanksgiving. We're very grateful for that. So again, good, solid operational quarter, financial quarter. And look, we're all looking to finish the fourth quarter strong. And so again, I want to thank everybody on this call and everyone out there who are not on this call who have supported us in our endeavors. So I'll pause there, see if there are any questions before we close the call out. To join the question queue, you may press star then one on your telephone keypad. You'll hear a tone acknowledging your request. If you're using a speakerphone, please pick up your headset before pressing any keys. To withdraw your question, please press star then two. We will pause a moment as callers join the queue. Once again, if you have a question, please press star then one. If there are no questions, this concludes the question and answer session. I would like to turn the conference back over to Jeffrey Hasham for any closing remarks. Please go ahead. Thank you very much. Well, I know why there are no questions today. That I think is obvious. Again, there'll be more information in the coming weeks, so please stay tuned. In the meantime, I wish all our American friends a happy Thanksgiving and want to thank everyone again for joining the call and for your continued support. Have a great day, and I'm sure we'll talk soon. Bye-bye. This brings to a close today's conference call. You may disconnect your line. Thank you for participating and have a pleasant day.
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