Hello, and welcome to the Q3 and YTD 2025 results presentation for BioSyent. My name is René Goehrum, and I'm the President and CEO of the company. Before I dive into the presentation, I'd just like to draw your attention to our forward-looking statements disclaimer. I'm likely to make some. Let's start the presentation by taking a look at our revenue and profitability. This slide shows you a sales performance of over CAD 12 million in the third quarter ending September 30. This is an increase of 28% versus the year ago, signifying our highest-ever quarterly sales. Our EBITDA for the quarter came in just over CAD 3.6 million, 27% growth to the year ago, and importantly, a 30% margin to sales. Our net income after tax came in just under CAD 2.7 million, up 16% to the year ago, with a strong net margin of 22%. One thing I'd like to point out here is that the net growth, lagging EBITDA growth somewhat. Just to remind you, a year ago, we made an acquisition of Tabelia for global operation sales to global customers. The amortization of that impacts the comparison of EBITDA to net income after tax. On a nine-month basis, our revenue was over CAD 33 million, 27% growth to the year ago. This was driven across our business, so all units: Canadian pharmaceutical, international sales to international pharmaceutical customers, and our legacy business. Our EBITDA came in just over CAD 9.5 million. That's up 35% to the year ago, with a 29% EBITDA margin. Our net income after tax was over CAD 7 million, 24% growth to the year ago, and a 21% ratio to sales. The business continues to progress. These results are positive. They are generally in line with our plan for the year, maybe slightly ahead. We are happy to report this type of performance on a by-brand basis. I just kind of want to walk you through a couple of things. You see the Canadian pharma business for the quarter just shade under CAD 10 million. That was up 19% to the year ago, CAD 28.4 million for nine months, up 16% to the year ago. Within that, you see our brand performance. In the middle of the slide here, you see for the quarter ending September 30th and on the right-hand side on a YTD basis, so nine months. A couple of things to touch on here. FeraMAX continues to perform strongly, as does Tabelia in Canada. You see a strong performance for Inofolic. It is off a small base, but we're showing a good indication of the promotional response of Inofolic. A couple of things on the not as positive to touch on. You see the Combogesic business retreating. We have stepped back from promotion of that asset and, in fact, disclosed in the second quarter results presentation or results in our MD&A that we are going to exit that asset from our portfolio at the beginning of next year. At the beginning of 2026, we're going to exit that asset from our portfolio. We've determined that it's a great example of an excellent product that is very efficacious and solves a real need or problem for the patient or consumer, but it requires further investment on our part. We have determined that we wish to allocate investment in other areas where we will get a better long-term return on that investment. Combogesic will be leaving the portfolio. You see here GELCLAIR, which is a launch product, has had a tough go of it for the YTD basis. We have already announced on that that we are pausing active promotion subject to some Canadian experience trials that are ongoing at four different sites across Canada. Based on the results of those real-world experience trials with clinicians from British Columbia to Nova Scotia, we will have a better indication of what our next steps will be on moving that business forward. You see here the international pharma business with strong performance in the quarter and on a YTD basis. Just as a reminder, once again, that we made an acquisition in September of last year, Tabelia, and that has had a positive impact on the international results, both revenue and profitability. In addition to that, we have had some growth with our FeraMAX business and sales to international customers. The last thing I want to touch on here is really strong performance for our legacy business. I just want to remind everybody it is a legacy business, and it's probably best to phrase it as a cash cow. It's not a business that we're investing in, and we don't see it as a growth driver to our strategy moving forward, but it is a nice profit contributor. When we have a year that is a bit of an outlier in comparison to previous years, we will happily take the revenue and additional cash flow that comes from that business so that we can reinvest it in further portfolio expansion and growth of our pharmaceutical and healthcare business. Let's see how that then translates into earnings per share. I'm happy to report that the third quarter of 2025 was our 61st consecutive profitable quarter. I note that because it's an important part of our strategy for us to be not just working towards growing our profit over time. Obviously, we're doing that, and we have demonstrated that we can do that. To be consistently profitable quarter to quarter, I think that's an important feature of our strategy and how we think about our business. You see here that on a trailing 12-month basis, we earned CAD 0.75. That compares quite favorably to CAD 0.60 in the year ago. If you use two years ago as the basis, that shows a kind of a two-year progression in the high 70s in terms of percentage growth, CAD 0.75 to the CAD0.42 of two years ago. That's a TTM, not just earnings for one period of time. You can see in the green line graph how that's progressed over time. Just a couple of things to touch on in terms of highlights for the year so far. I've already mentioned that we started making shipments to customers under our Tabelia acquisitions. So far, our results that we're reporting today include CAD 1.8 million of shipments to international customers. This isn't revenue destined for Canada. We report that separately, as I did a couple of slides ago. We had further orders that shipped in the fourth quarter of 2025. We have paid a CAD 0.05 dividend in March, June, and September. That is an 11% increase versus the year ago in 2024. We have announced a dividend payment that will go out in December, so another CAD 0.05 per share dividend, an important feature of our capital allocation. In April, FeraMAX was named the number one recommended iron supplement in Canada for the 10th consecutive year. I have a couple of comments on the FeraMAX brand on the next slide. On a YTD basis, we have repurchased 19,500 shares and canceled them under our NCIB. I have a few more comments on our NCIB in a couple of slides. As I mentioned, FeraMAX has been named the number one recommended iron supplement for 10 years now. This is amongst both pharmacists and physicians across Canada. FeraMAX is by far the leading value revenue brand in Canada for oral dosed iron. This is really built on a foundation of trust that we've developed with healthcare providers across the country, which is signified by this independent survey. I also can mention that it seems that the medical community is rediscovering the importance of adequate iron levels for Canadians. Iron is predominantly consumed; oral iron is predominantly consumed by women in Canada for a number of different reasons, not exclusively, but predominantly consumed by women. FeraMAX volumes have continued to grow as the medical community keeps reminding itself of the importance of adequate iron levels. In fact, in Ontario and Manitoba, a population representing over 40% of Canadians, they've redrawn the cutoffs for determining whether a patient after lab results is iron deficient or has iron deficiency anemia. This has stoked the market. Units overall in the market have grown, and FeraMAX as a leader in the market has continued to grow with that. I will add that it is a competitive market, has been a competitive market going back a decade, as we've had a big bull's eye on our back, but we've been innovating with new products. You see here some of the innovation that we've introduced to the Canadian market obviously includes FeraMAX and various put-ups of FeraMAX to address different needs or use cases. We've also been innovating with other product launches, and we do have a new endocrinology asset that's been licensed and being prepared for launch. That's looking like it's going to be an early 2027 launch, so Q1 2027. We're still waiting to get that asset approved by Health Canada, and we've been doing some further development work for FeraMAX. It's new products under the FeraMAX product suite. As we look back, this is a little bit dated because it shows 15 years of revenue growth, profit growth ending 2024. The thing that I wanted to kind of point out here is that over that period of time, we've had significant revenue growth, over 20 times revenue growth, obviously off of a low base. Through that process, we've driven a 140 times increase in profit as we've built the business. We've continued to invest in growth and also keeping an eye on profitability, as that has been an important feature of our strategy so that we can become a compounder. We are a compounder. We are reinvesting our cash generation in innovation and new products for market while at the same time returning capital to shareholders. I'll touch on that in a moment or two. The thing that may be lost, I think, in this chart, and as you're thinking about and looking at our business, is kind of what's happened over the last couple of years. If you use a three-year period, 2025, where we're projecting to be by year-end, you just have to look at where are we on a TTM 2025. With the results we've put out today, we're already above CAD 42 million on a TTM basis. If you kind of look to where we think the year is going to end and then look at a compound growth rate for 2023, 2024, 2025, we're running at about a 16% compounder. This may be missed by the market, but we've had a significant move up in the business, and we are generating significant cash flow, which we are then able to deploy in further growth in the business. Our balance sheet continues to be strong. You see here that our ending in the period cash position, cash and investments in the kind of CAD 27.5 million-CAD 29 million range, has been fairly consistent. By design, we are tempering that with share buybacks. I mentioned before that we had this year bought back 19,500 shares. However, actually, on a TTM basis, the last 12 months have deployed CAD 3.8 million into share buybacks. We had a very active Q4 last year, and share buybacks will continue to be an important feature in our capital allocation strategy as well as payment of dividends. You see here that out of the little over CAD 8 million in cash generated from operations in the last 12 months, we've returned CAD 6 million of it to shareholders. Yet we are continuing to look at new assets and licensing and supporting launches and our growth products. I would say, all of the above with a keen eye on quality, and that keen eye on quality drives a return on equity of 22% for the trailing 12 months, comparing favorably if you kind of look back over the last couple of periods. I mentioned our capital allocation approach. Our strategy is to grow the business, revenue and profit, to diversify our portfolio. The first dollar that we generate in operations is intended to support those two important parts of our strategy and also to ensure that the decisions that we take in the business are driven towards supporting corporate longevity, being in business a long time so that we can sustain the benefits of cash generation and further reinvestment into that business. Essentially, our capital-light business model is generating cash and allowing us to then invest in further growth. We are doing that with product launches, as I mentioned, Tabelia Global Acquisition. Yet over the last seven years or so, I think we started our NCIB in Q4 of 2018, we have returned over CAD 29 million in capital to shareholders and at the same time grown a significant business, which continues to grow at double digits. I'll end on this page mostly for new shareholders, new investors, a little newer to the story. I'd like to just point out that we have not issued any dilutive share options in five and a half years. It may actually go back to 2019 since we issued any share options. We have shifted to equity incentive compensation in the form of RSUs, restricted share units. We do not issue shares from Treasury to satisfy our obligations of the RSUs. We are in the open market. We buy shares in the open market. We hold them in trust and then issue the new equity to RSU holders as they qualify and our obligations come due. It is a non-dilutive approach. In fact, as I mentioned, we've been buying back shares and in fact decreased our absolute fully diluted count of shares outstanding by CAD 3.1 million over the last seven years. I guess at the bottom of the page, you can see that we're kind of creeping into value territory. As we look forward, we know that we've got a good business. It's profitable. We've got a strong balance sheet. We've got assets that are driving growth today, and we've got new assets being prepared for market that will drive growth in the future. We've got a robust funnel that we're working right now for new in-licensing, and there are some M&A opportunities that are being worked on, none of which, both in-licensing or M&A, are kind of ready for prime time yet. We hope to have some further news to share over the coming quarters. Rest assured that we're working both on the present, which is drive the business now, and make sure that we're driving the business significantly over the long term and creating value for our shareholders. I look forward to reporting our further progress in coming quarters. Thank you.