Good day, everyone, and welcome to OverActive Media's first quarter conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow management's remarks. This conference call is being recorded, and a replay of today's call will be available on the investor relations section of OverActive Media's website. It will remain posted there for the next 30 days. I will now hand the call over to Babak Pedram, investor relations for OverActive Media, for introductions and reading of the Safe Harbor statement. Please go ahead, sir. Thank you very much, and good morning, everyone. Welcome to OverActive Media's first quarter 2024 earnings conference call. A copy of the company's earnings press release is available on the investor relations section of our website at overactivemedia.com. With us on today's call are Adam Adamou, Chief Executive Officer, and Rikesh Shah, Chief Financial Officer. Today, we'll review the highlights and financial results for the first quarter of 2024 and recent developments. Unless otherwise specified, all amounts mentioned on today's call are in Canadian dollars. Before we begin, I will read our cautionary note regarding forward-looking information. Certain information to be discussed during this call contains forward-looking statements within the meaning of applicable securities laws, including, among others, statements concerning the company's 2024 objectives, the company's strategy to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management and are subject to several significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Also, our commentary today will include adjusted financial measures, which are non-GAAP measures. These should be considered a supplement, not as a substitute for GAAP financial measures. Reconciliations between the two can be found in our MD&A, which is available on sedarplus.ca and our website. At this time, it is my pleasure to introduce Mr. Adam Adamou, Chief Executive Officer of OverActive Media. Adam, please go ahead. Good morning and buenos tardes, everyone. Thank you for joining today's call. 2024 has begun with tremendous momentum, and I want to start by expressing my sincere gratitude to our business and performance teams for their dedication and commitment. Additionally, a heartfelt thanks to our fans and brand partners for an incredible start to the year. We have more fans, more partners, and more engagement across the board and at the highest level. The first quarter of 2024 continues to highlight the transformation of OverActive Media. We achieved record revenues of CAD 3.7 million, a 126% increase compared to the same period last year. This growth is due to several key developments. We completed the acquisitions of KOI and Movistar Riders on March 1, 2024. These acquisitions have expanded our footprint in Spain, EU, and Latin America. The integration of these teams has already contributed positively to our revenue and adjusted EBITDA. I note that only one month of consolidated post-acquisition results are reflected in our numbers for the quarter, alongside fulsome costing of various acquisition-related and one-time costs. The Valorant Champions Tour EMEA team, now operating as Movistar KOI, began contributing to our revenue following transfer approval from Riot Games. This addition has also enhanced our presence in the competitive Valorant ecosystem. We also changed the revenue recognition of our league revenue to a straight line basis, which added CAD 900,000 in the first quarter, reflecting a more accurate representation of our ongoing revenue stream. This change was made as a result of greater certainty of our share of league revenues under the new league partnership model. We also made several significant strides in the first quarter. As part of our acquisition strategy, we welcomed Gabriel Sáenz de Buruaga and Gerard Piqué to our board of directors. Their expertise and leadership will be invaluable as we continue to grow our global presence. Our MAD Lions KOI League of Legends EMEA Championship match on February 18 became the most-watched LEC match since summer 2021, with a peak viewership of 800,816 viewers. This highlights our strong engagement and growing fan base. We secured the largest financial partnership in our history with Telefónica, extending their support for Movistar Riders for three years. Additionally, in North America, we renewed our relationships with Scuf Gaming and signed a new partnership with the emerging lifestyle and gaming brand, Blacklyte. Our teams performed exceptionally well, with the Overwatch Champions Series team emerging as champions of Stage One and Stage Two in North America and qualifying for the first Overwatch Major in Dallas. Toronto Ultra, our Call of Duty League team, won CDL Major One in Boston, and our Movistar KOI Counter-Strike 2 team qualified for the Copenhagen Major. In League of Legends, MAD Lions KOI qualified for the grand finals of the Winter Split in the LEC to record viewership. Looking ahead, we are focused on several strategic priorities to drive our long-term growth. First, the long-term agreement with the Call of Duty League, effective from April 16, 2024, eliminates over CAD 35 million in outstanding entry fees and adds a termination payment of approximately CAD 2.8 million. This agreement strengthens our financial position and opens new revenue streams, including direct team participation in digital in-game merchandise and opportunities from licensed third-party tournaments. These changes will be reflected in our results for the second quarter, ending June 2024. We continue to streamline our operations, aiming to bring our costs in line with our objectives for revenue growth and profitability. This disciplined approach will ensure that we continue the path to profitability while maintaining our competitive edge. Third, global expansion. The integration of KOI and Movistar Riders demonstrates our commitment to expanding our global footprint. We are leveraging their established presence to enhance our brand and engage more deeply with our audiences across multiple regions. Our focus in 2024 will be on growing our revenues and our brands in EMEA and the Americas, and we are currently reviewing various opportunities for expansion of teams and regions. Finally, we are in advanced discussions with Riot Games to finalize a new model for our League of Legends esports ecosystem. This model aims to ensure more predictable revenue streams through enhanced partnerships and innovative in-game digital sales strategies, aligning with our vision for a robust and dynamic esports ecosystem. We expect to have an agreement with Riot Games on this front by the end of 2024. The first quarter of 2024 has been a period of significant progress and achievement for our company. We are well-positioned to capitalize on our recent successes and continue driving value for our shareholders and partners. We have a strong balance sheet, strong growth, costs are in line with expectations, and I'm confident in our ability to execute our strategic growth plans and achieve our long-term objectives. Thank you once again to our dedicated team, partners, and shareholders for your continued support. I will now turn the call over to Rikesh Shah, our CFO, to provide more detailed insights into our financial performance. Thank you, Adam, and good morning, everyone. Today, I'll briefly review our first quarter financial results. Please note that the financial information we discuss today is prepared in accordance with International Financial Reporting Standards and is in Canadian dollars, unless otherwise indicated. For the three-month period ended March 31st, 2024, we reported total revenue of CAD 3.7 million, a substantial increase of 126% compared to the same period last year. The revenue increase was related to several factors, including the acquisitions of Riders and KOI that closed on March first, 2024, a positive contribution from Movistar KOI, the Valorant Champions Tour EMEA team that was transferred to OAM by Riot Games on February thirteenth, 2024, and a change in estimate to record league revenues on a straight line basis, as certain league revenues contain minimum guarantees that can be evenly recorded throughout the period rather than during discrete quarters. This had a positive CAD 900,000 impact in the first quarter. During the quarter, we further strengthened our financial results by managing our operating expenses effectively. Operating costs for the three-month period ended March thirty-first, 2024, were CAD 6.2 million, an increase of approximately 16% compared to the same period last year. The increase was primarily due to acquisition-related expenses. However, we focused on lowering costs in our core business, driving efficiencies and supporting revenue growth. Adjusted EBITDA for the same period improved significantly by 51%, reducing the loss to CAD 1.8 million, compared to a loss of CAD 3.7 million in the same period last year. This improvement is mainly due to the increased revenue from our team operations segment and effective cost management, despite higher operating costs from recent acquisitions. Our cash position as of March thirty-first, 2024, was CAD 10.1 million dollars, providing us with a strong balance sheet to pursue our strategy prudently and with fiscal discipline top of mind. As Adam indicated earlier, we further strengthened our balance sheet in Q2 by eliminating $35.2 million of liabilities, in addition to a $2.8 million cash infusion as a result of the new long-term agreement we secured with Call of Duty League. That concludes our prepared remarks. I'd like to open the call for questions. Operator, please go ahead. Thank you, sir. Ladies and gentlemen, if you would like to ask a question, please press star followed by one on your touchtone phone. You will then hear a three-tone prompt acknowledging your request. And if you would like to withdraw from the question queue, simply press star followed by two. And if you're using a speakerphone, you will need to lift the handset first before pressing any keys. Please go ahead and press star one now if you do have any questions. And your first question will be from Towaki Dojima at TD Cowen. Please go ahead. Hi, everyone. Thanks for taking the question. I just wanted to start off with a clarification on that CAD 900,000 you talked about on the straight line basis. Just wanted to make sure that that's effectively a pull forward of what used to be recognized in second half that's now being realized evenly across the year? Yes, that's correct. All right. Perfect. I think in the MD&A, for the first time in a while, or guess in the first time, there's a mention of non-franchise teams, which is effectively the other teams that came with the KOI Movistar acquisition. Can you kind of run through your logic on the difference in strategy between the franchise teams and the non-franchise teams? If there's anything different, if there's, you know, differences in revenue structure or cost structure or anything along those lines? Yeah, great question, Towaki. Our... The way that we look at the market is through the lens of, of, you know, the primary monetizable assets that we have or own, whether they're franchised or not. And the assets that we have, we look at in terms of three primary categories. One is the brand that we are associating with that particular team or asset, whether it's, you know, KOI or Ultra or what have you, and the impact on improving the brand. The second is the audience that we can reach, the size of the audience, and then the engagement of that audience with that particular brand. So brand, audience, engagement is how we look at the various teams and games that we're involved with. And then to that, we apply, you know, the opportunities for selling, activating, and performing. You know, selling is both sponsorship and digital, MTX-type revenues or marketing guarantees that we get to monetize the particular game. So when we look at that lens, okay, assets are brand, audience, engagement. Actions are selling, activating, performing. We apply that lens to the particular game, and then we make a determination whether there's a positive impact to our profitability and growth from being involved in that particular ecosystem. Which, you know, I understand is a change in the approach that we had before, but, you know, we've been doing this for five years, and I think we understand what the success factors are, whether the game is franchised or not. Yeah, that makes a lot of sense. I know it's early days, but have you seen the success in kind of having brand across all of these games? I know in the past, the focus was more on those franchises, franchise games. Yeah. But there are other games in the non-franchise that there are definitely endemic brands pay attention to. So are you seeing any synergies there in your selling ability? Yeah. Yes, we are. And not only just the selling ability, but also the digital MTX side of it as well, which is the most scalable part of the business. If a particular publisher or partner, and there's league agreements, you know, with the developer in almost every game that we're in, except for maybe the Valve games. You know, they do provide opportunities for the sale of digital items in the game. And if your brand is strong, you're going to sell more, okay? And that's basically as simple as that calculation is. If your brand is strong and your audience is connected to it, and they're very engaged, they're gonna buy more from you. And you're also gonna have more interest from sponsors and partners. What we're finding is that there is generally a benefit to having fewer brands than more brands, and we're reviewing that now with internally and with advisors in terms of, you know, what optimal branding strategy we can use going forward. But we have seen, again, already, you know, the results of that. One of the best ways to view that is, you know, how well are we doing in terms of selling digital items in the game for the games in which those are available? What we see is, both in Europe and in North America, we're doing exceptionally well in terms of the sale of digital items and skins. That's, you know, that's a direct consequence of the strong branding and the audience and the engagement we've developed in those markets. Perfect. Correct me if I'm wrong, but that branding is effectively still kind of siloed today, and you're working towards unifying that brand sometime this year, correct? Yeah. We've got too many brands right now, and I think it's inefficient. So we've got Movistar, Movistar KOI, we've got MAD Lions KOI, we've got Toronto Defiant, we've got Toronto Ultra, we've got OverActive Media. That's five brands. Too many, I would say. And, that's what we're reviewing, to determine how to best consolidate those brands into fewer names. Makes sense. And sorry to go back to the MTX, the digital in-game sales, but was there any of that in this quarter being recognized, or is that more of a future quarters thing? Rick? Yeah. Sorry, can you say that again, Towaki? Were there any material amounts of MTX revenues recognized in the quarter? Yes. So there are components within each agreement that has a minimum guarantee on digital goods. So those are reflected in the CAD 900,000 that was mentioned previously. But there was also MTX recorded through our Movistar KOI CS2 team that participated in the Copenhagen Major, which was a significant add. Awesome. And I guess one larger topic. I think the Esports World Cup is gonna be sometime this summer. Correct me if I'm wrong, but I think KOI is on that list. And I assume that is the KOI that you guys, the team that you have. Are there any associated costs in taking part in the World Cup? And then also, what are the returns for those costs? We're still reviewing that. I don't wanna comment on it just yet until we're ready to comment on it. But most of the costs, my understanding of the Esports World Cup, are covered by the tournament organizer. Where there would be additional cost would be if we were to enter into new games and so forth. But we're kind of reviewing various things, and we're just gonna kind of hold off on commenting on that until we're ready. Got it. And so sorry, just to make sure. So effectively, if you wanted to, you can go into playing more of the games that are in the World Cup. You don't register to specific games. KOI is part of the Esports World Cup, and you can join as many of those games in that, in those, I think, eight weeks. Well, yeah. Well, let me just take a step back because I think the messaging has been a little convoluted here. So OverActive Media is in the Esports World Cup, okay? And so again, it's confusing because we've got five brands, okay? And so, you know, so which one do you use in terms of your marketing and so forth? You know, almost by necessity, excludes the other teams, right? So, so I would say OverActive Media has been invited into the Esports World Cup. We're reviewing that currently, in terms of what that means and the pros and the cons. And so we will make a just, you know, kind of a final determination on that at some point, okay? So beyond that then, taking a look at our brand, our KOI teams will not be involved in Esports World Cup. First, none of them have qualified, including Counter-Strike and League of Legends and so forth. So none of the KOI branded teams will be at the Esports World Cup this year, you know, for various reasons, including that none of them have qualified. So you have to qualify and/or be invited, regardless of whether you're a member of the partnership program or not. So there will be no KOI-related brands at the Esports World Cup this year. The teams that may or may not be able to qualify are still in the qualification process, but they will likely be, you know, the North American-based teams at this point. So they may have an opportunity to qualify at some point, once those qualifications are made clear and, you know, we will make that determination. But as of right now, this day, none of our teams have qualified or are attending the Esports World Cup. Awesome. Thank you very much. Okay. Thank you. At this time, I would like to turn the call back over to Adam Adamou. Okay. Thank you, everybody, for attending the call. 2024 has already proven to be a transformative year for OverActive Media, and we are very excited about the opportunities that lie ahead. Our strategic acquisitions, strong financial performance, and innovative partnerships position us well for continued growth and success. We look forward to keeping you updated on our progress throughout the year. Thank you, and have a great day. Thank you, sir. Ladies and gentlemen, this does indeed conclude the conference call for today. Once again, thank you for attending, and at this time, we do ask that you please disconnect your lines.