All right, hello everyone, and thank you for joining us throughout the day here at the partner here at Lytham. Today we have Liberty Defense and the company's CEO, Bill Frain, walking us through the company's slide presentation. Liberty trades on the OTCQB under the ticker symbol LDDFF. Bill, thank you so much for your participation here today. Yeah, I appreciate it, Robert, and I appreciate the opportunity to present to you and to the conference attendees. Fantastic. The floor is all yours. Great. It is really an exciting time here at Liberty Defense. For those of you who are new to the story or have been tracking the company over the last several years, we have next-generation technology for screening, really security and detection capabilities. Maybe before I jump into kind of the formal presentation and the technologies, you know, I just wanted to highlight a couple of things. There really is a shift in the security applications and technology need going on not only in the U.S. and Canada, but globally. I feel like this slide here, we could probably change it every day. As a matter of fact, I have not even updated it, you know, the tragic events that happened, you know, recently at the White House where two Israeli embassy employees were shot and killed. There are events that are happening on a daily basis. I'll highlight some of the things here. If you, you know, on the left side of the screen, you know, it just came to light a few months ago that, you know, this is just in New York where two brothers had their home raided. Fortunately, there was intelligence in advance. You can see I've highlighted they had a whole, you know, houseful of homemade explosives and ghost guns. That's really the new threat that's coming out: ghost guns, 3D printed guns, things that can evade the typical metal detectors or even the high-throughput metal detectors that are out there today. You can see here they had IEDs, an AR-15 style ghost gun. That's mainly made of 3D printed materials, plastic, but can have the capability to shoot several bullets: 9mm semi-automatic ghost gun, 3D printed gun, AK-47 ghost gun, 3D printers. You can see what's happening. The people who want to do bad things are becoming more and more creative and are using the technology that can evade the actual security and detection systems that are out there today. Unfortunately, incidents are going to continue to occur. I've been in this space for 30 years. I've been doing aviation security equipment screening, border security, trace technology. The one thing I do know is that we need, as an industry, to continue to innovate and evolve with the technology to stay ahead of the bad folks. With that, you can just see, you know, that, as mentioned, the climate is changing. It's a very large market, about $11.7 billion in 2024 and growing for the need for technology. The reason for that is really just, you know, terrorist activities, domestic and international, and really just some of the geopolitical tensions that we see kind of on a day-to-day basis, unfortunately. It is not just in the Americas, but it is on a global basis. The mass shootings continue to rise. One of the things, you know, we hear all the time and even recently with the embassy shooting in Washington, D.C., is, you know, they do not think it is going to happen to them, but it does. You know, people should be aware. People should be ready for something to take place. That is what we are doing here at Liberty. Really, you know, our motto is to continue to develop technology to keep the public safe. The advancements of 3D printed technology on the right-hand side here, you can see these are some of the threats that we are detecting today. It's metallic, non-metallic threats, threats that can do catastrophic damage, ceramic knives, the 3D printed guns, but liquid powders and gels as well. Today in the presentation, we'll talk about two of our technologies. The HEXWAVE technology, we can see here on the left, it's a walkthrough screening portal that is going to screen for any type of threat or anomaly that's on the person. It's using safe millimeter wave technology, which is proven in the field. We're just taking a reflection off the body and we're looking for any type of threat. We use AI capability to distinguish between those harmless materials and non-invasive threats. I'll talk a little bit more about that technology. I also want to talk about the high-definition AIT, Advanced Imaging Technology Upgrade Kit. Some of you are very familiar with the body scanners at the airports today in the U.S. and Canada. When you put your arms up and there is a mass that rotates around you. We at Liberty, we have a sole source contract with the TSA to upgrade those systems in the field. There are over 1,000 of those in the field. Again, I'll talk about that technology here now. What we are doing here, and this again is a program that has been funded over the last 18-24 months by the TSA. They have invested $6 million in Liberty Defense to date. Basically, what we are doing is we are taking those mass that rotate around you and we are updating that hardware capability. There is a feature that the TSA is now using. It is called an open architecture platform. What that really means is that we at Liberty, we are open to working with third-party vendors for algorithms, for interface capability. Really taking the best of best of those systems. That is what TSA has identified, those best in class. Liberty will be the integrator, but we are working with third party to get that best capability for that advanced technology and enhanced detection, lower false alarm rate, and lower touch time. We will replace those masts in the system. It is a field upgrade. It is going to save the TSA and U.S. government several hundred million dollars, which as we know, that is very important in today's environment to save the government funds. We have to do that. It is very prescriptive. We have to do that off hours and within four hours to do the actual upgrade. This will be an enhancement. Again, there's over 1,000 of these units in U.S. airports. There's close to 60 in Canadian airports and then another 1,000 globally. This is a huge market for us. We'll be delivering the first kit to the TSA in the next few weeks. Now switching back to the HEXWAVE, which is our flagship product, which is commercially available and we're actively selling into different markets just to let you know. This is similar to those body scanners that you see at the airport, but we're doing it in a fashion that you're actually walking through the system. You don't have to stop. You don't have to pose. You're walking through these two different panels and we're emitting an RF signal that is safe. We have FCC approval for indoor and outdoor use. We're emitting these RF signals and then it gets captured back off the body to a bank of detectors within the same system. We have an exclusive license with MIT. What MIT really provided is that RF signal then is created into a real-time 3D video rate image. It's actually like a movie as you're walking through the system. As you can see there on the rich data, we're able to actually identify those threats. We put the system through a lot of training. We have males and females and different body types. We will put threats all over them to train the system and look for new threats. We like to call this future-proof technology because we'll continue to advance with the algorithm development. It is really AI deep learning. We're able to determine and interpret those threats based on the real-time 3D video rate image. It happens instantaneously. What the operator will see was in the image there where you see it says interpret. All the operator sees is where the threat is on the person. We've had units in the field now for close to a year and a half. We're getting a lot of great feedback from our customer base. I'll talk about that in a little bit. Again, this is instantaneous so that it'll let the operator know immediately if there's a threat on the person. The system is open-ended. What that means is we can utilize biometric capability on the system. We can tie into the video surveillance system. Each panel has its own IP address. You can dial in to see the diagnostics on the performance if you're an operator. We could send the images to a control station if needed. We could have gates on the other side. There's a lot of use cases for this. Again, what we're hearing from our customer base is, you know, they want to be able to automatically identify threats, but also be able to visually see who the person is, what the threat is, or maybe in advance using biometrics to see if the person maybe is on a police list. Very open-ended system. Just to touch here for a few minutes on the market. Again, it's a huge market, right? The physical security market is growing. The demand and need is growing. I really just talk, you know, on a couple of the key drivers for us. One of the main drivers for the HEXWAVE technology is this employee screening initiative mandate that was issued by the TSA. Today at U.S. airports, there is no policy or program for employees to be screened. When they go from landside to airside, the only thing they have done is a background check on them. They can go to the other side. These are people who work at, you know, some of the concessions, but also people working baggage handling, working on the fuel trucks, working on the airplanes themselves. TSA realized this is a vulnerability. This is a risk. You know, people going onto the planes are checked thoroughly. The employees need to be screened. They issued a mandate that said by April of 2026, all employees need to be screened. The key for Liberty Defense is it says in the mandate, you have to have explosive detection capability, which we have. Obviously, we're able to do that with the powders, liquids, gels, and non-metallic threats. This is a big driver for us. We're seeing a large demand now from the airports to be able to do this detection capability. Again, we understand the CONOPS, meaning the Concept of Operations, that you want to have continued flow of the employees going through. You don't want to hold them up. You want them to be able to get to their job, but you want to be doing it safely and efficiently. That's where the HEXWAVE comes in. I'll talk a little bit more about that in the next slide. You know, we're also looking at correctional facilities. We have deployments at courthouses, correctional facilities in Chile. We just sold a unit to Brazil. We're in Nevada for a courthouse, Elkhart County in Indiana. Again, they're looking not only for threats and weapons, but they also want to be able to look for drugs and maybe cigarettes, currency, other things that can be used as currency within the prison system. Distribution centers. The great thing about this technology is you can screen the employees as they're coming into the facility at a distribution center for threats, and then you can screen them on the way out for theft prevention. There was recently a shooting at an Ohio distribution center. That same theme comes up. We didn't think it would happen to us. It does. We know that distribution centers are now on heightened awareness. Critical infrastructure applications, government facilities, especially in this economic and in the environment we have with the government applications, there's concerns of people coming into state government facilities as well as those in Washington, D.C.. You know, and then hospitals, schools, and sports and entertainment venues. You know, again, I talk about the shift in screening mechanism. There's a new law coming out in California that all hospitals will have to have threat detection capability within the hospital system. You know, so we're seeing that more and more as key market drivers needing new and advanced next-generation technology. I'll talk a little bit here about aviation worker screening. And again, one of the biggest market drivers for us. You look at all the major airports out there and they're categorized. A category X airport, for example, would be LAX, Chicago, Atlanta, Dallas, Boston. And there's 27 of those. Then you get into some of the smaller ones, CAT I, CAT II. Again, they all have to do this screening for next-generation technology. They all have multiple entrances. You know, I'll use Manchester Airport, excuse me, in New Hampshire as an example. They have nine access points where employees can go. They bought three HEXWAVE systems from us and they've been deploying them for about nine months now. They move those three systems every single day. As you can see here in the image in the bottom, which is at Rochester Airport, the system is on wheels, but it's very robust. They can move those systems and it's a big competitive advantage for Liberty because they can move those systems and go to the different access points. The employees are not going to know where the systems are. They can't evade the systems and try and go into some other access point. We recently had an industry day or technology day here in our offices in north of Boston. We had major airlines, major airport executives, industry partners that were there as well. We all went up to Manchester, New Hampshire to see how they're using it for the aviation worker screening. They've got it down to a science where it's very efficient and effective technology. It's very simple to use from an operator perspective. They really are a customer advocate for us as well as Rochester Airport. I'll highlight some of the other areas where we are today. You can see here within the next 12 months, there's close to 500 units that will need to be deployed just as an estimate at all these major airports around the U.S. From a competitive landscape out there, you have your traditional metal detectors, which again, just detect metal. You have your body scanners at the airport that we've mentioned, the Leidos Pro:Vision systems, which are really, you know, those are the ones where you have to stand in front of the system and do a pose. Very effective because they use millimeter wave technology. Evolv, which is a very high throughput technology looking for metal objects, looking for guns and knives. They are mainly in schools and in stadiums because of their high throughput. Then you have Xtract, you have Thruvision, which is another technology. You have Rohde & Schwarz, which does similar millimeter wave technology. That system is not mobile. You can see here on some of the competitive advantages that we have from a Liberty perspective. By the way, this presentation is up on our website. If you want to spend more time with it, it will be there for your viewing. This is the business update and, you know, kind of where we are from a market perspective. We're very active in the marketplace. We're selling systems. We're deploying systems in the field at the various market verticals that I talked about. We just shipped a unit to Palm Springs Airport for their employee screening initiative. I mentioned Nevada Courthouse in Chile. That's the first of many that will come for juvenile court system. Again, another requirement in Chile, you can't screen the visitors or the people in the court system, the prisoners using X-ray technology. They are moving away towards a safe millimeter wave capability. We just sold a unit in Brazil through a partner called Aerotech. We're actively quoting for the aviation worker screening program. You can see here some of the airports, some of the smaller airports, but also at JFK, LaGuardia, Charlotte Douglas. We know several more opportunities that are coming into proposal timing. A lot of the airports, their budget cycle starts July 1st. I know we're going to start to see a lot of activity coming up soon. Also, recently, I spent two plus days at a major law enforcement agency in Washington, D.C., that is responsible for protecting a lot of the Capitol buildings and also a lot of the events that happen in the Washington, D.C. area. The technology was very effective. Again, the theme of the major shift in requirements for security screening, they realize it. They understand the threat is, are these 3D printed guns, the IEDs, explosive materials like the powders and liquids and gels that can do more catastrophic damage at large gatherings. Immediately after we did the demonstration, they asked us for a quote for 20 units. Some of the other areas that we're in, you know, we're in universities. We have a great partnership with MIT. As a matter of fact, we deployed a system with them. They have a larger scale program that is being used for other transportation modes, high throughput modes. The HEXWAVE is being used as part of a layered security approach as one of the technologies being used, which is a very effective way of doing security screening. Again, the people who are coming into or maybe want to do harm, they do not know which type of technology they will be going through. We also just did a recent installation in Fairbanks, Alaska for their aviation worker screening program. I will kind of quickly go through some of these other slides. I mentioned, you know, TSA has invested $6 million, but we also have great partners, MIT Lincoln Labs, Pacific Northwest National Labs. Those are two of the premier laboratories or incubators for technology in the world. They chose Liberty Defense to commercialize their technology. We also have partners in the industry. Some of the bigger ones, Rapiscan Systems, which is a couple of billion dollar company. They chose us and the HEXWAVE technology along with the upgrade kits for the body scanners for international sales and distributions. You can see others, Viken Detection, Access Control Systems, Grasp, Isotec, K2, and LINEV. LINEV is very strong in the correctional markets. They have a complementary technology that can be used along with the HEXWAVE, very similar to K2, which is a company that's well entrenched into the aviation market. Just quickly, the sales process here, this is a technology sale. It's an equipment sale. We'll sell the hardware to the customer. You know, the great thing about this is the hardware is going to be in place for 10 to 15 years. We're going to continue to do software updates, AI updates, algorithms. We're already doing that with some of our customers today where they're asking us to do a specific screening application or look for a various threat. It's a nice recurring revenue for us. The biggest thing for our customers is operational availability. They want the system up and running 100% of the time. We're focused on that. We understand that. They will all get a subscription service for the software updates, but also a maintenance and support plan, which is labor and parts. Most of the customers are doing that over a five-year period, and then they'll upgrade. We also have leasing options, which some of our customers are adopting at very affordable and aggressive rates. This is part of the key here. You know, we have the technology. We know the market is out there today, but it's really the team, the leadership team, and the growth that we have within our engineering capability is really strong. Most of the team that's on here at Liberty from a leadership perspective has been in the security and detection space for 30 years. We were with companies like L-3 Security and Detection Technology, which is now L3 Harris, L-3 Communications, Raytheon, BAE, Microsoft, GE, very experienced team. I just want to highlight too, we've brought on over the last month five new strategic advisory board members who are parts of major U.S. corporations. We've announced three of those to date, but they also have experience with the White House, government applications, CIA, international applications. We are really broadening the team because we're at the point now where we need to scale. We need to grow the business. And so we've got some of the best minds in the business to help us grow and continue really to develop the market and the applications since the technology is there today. So why Liberty Defense? As I just mentioned, you know, we do have a strong leadership team in place. We've deployed close to $5 billion worth of security technology globally. That's in aviation, that's in corrections, that's in ports and borders, various technologies. So we understand the customer needs and wants. And again, there is a major shift in the technology applications that are needed today. The HEXWAVE, our flagship product, it's deployed throughout the U.S. It's in Canada, Toronto Airport, and now we're getting global attraction at other applications. The high- definition AIT upgrade kit is going to the TSA in Q2. That will be the first technology that will be able to meet the new demands and requirements at U.S. aviation checkpoints. That's a potential $100 million market opportunity over the next five years. You know, I can't emphasize that enough. It is a clear market. It's going to save the TSA money in the future, so they don't have to do a forklift replacement of that technology that's been in existence since 2011. It's getting on to 15 years. We're going to replace that and enhance the capability. The market is there. We've talked about that. Millimeter wave is a proven technology, and we're using AI capability to make it even smarter and better. Again, you know, I can't emphasize enough, MIT and Pacific Northwest National Labs, TSA, they chose Liberty Defense to commercialize the technology. They could have gone anywhere to any other company, the large industry folks that are in the security and space, they chose Liberty Defense. Now we have strong industry partners that are helping us grow the business. We are engineered and manufactured in the U.S. We do not rely heavily on international, especially in China and Mexico where there might be higher tariffs. We are doing everything, almost everything within the U.S. I'll just wrap it up here, just a quick snapshot of the cap table today. I firmly believe we are undervalued at $15 million plus dollars in the U.S. market. We have raised funds over the last six months, again, really to help the working capital capability. We are building up our inventory capability. We're building up our business development capability to be able to expand the business and to be ready for this major growth opportunity that we're seeing in the marketplace today. I appreciate you all taking the time. You know, I would encourage you to visit our website and I am available for any questions or future meetings as needed. All right. Fantastic, Bill. Thank you so much again. Very, very thorough presentation there. I'll say, as Bill just mentioned, if you have any questions or would like to schedule a meeting and I can assist, please let me know. You can shoot me an email. That's blum@lythampartners.com. Again, visit our website as well to learn more or visit us on LinkedIn and connect with us there in order to connect with more videos such as the one here with Liberty Defense. So, Bill, again, thank you so much for your time today. Greatly appreciate it. Yeah, thank you, Robert. All right, everyone. Enjoy the conference. Have a great day.