Good day, ladies and gentlemen. My name is Omar, and I will be your conference operator today. At this time, I would like to welcome everyone to the NXT Energy Solutions 2022 First Quarter Operating and Financial Results Conference Call. All participants will be in listen only mode for the first part of the conference call, with the ability to ask questions after the presentation by the company. For the question and answer session, if you would like to ask a question, please press star one on your device's keypad. Should you wish to cancel your question, please press star two. I would now like to turn the meeting over to Mr. George Liszicasz, President and CEO of NXT Energy Solutions. Please go ahead, Mr. Liszicasz. Thank you very much, Omar. Welcome and thank you everyone for joining us for NXT Energy Solutions 2022 first quarter financial and operating results conference call. This is George Liszicasz. Joining me on today's conference call is Eugene Woychyshyn, Vice President of Finance and Chief Financial Officer, Dr. Xiang Gui, Director of Research and Development, Enrique Hung, Director of Geosciences for the Americas, Mohammed Saqib, Head of Interpretation and Project Engineer. Rashid Tippu, our Director of Geosciences for Africa, Asia, and Middle East is traveling for business. The purpose of today's call is to briefly discuss the highlights of the release of NXT's 2022 first quarter financial and operating results. Following our update, we will open up for the lines for questions. Please note all statements made by the company and management during this call are subject to readers' advisory regarding forward-looking information and non-GAAP measures set forth in our Q1 2022 press release and MD&A issued May 12th, 2022. All dollar amounts discussed in today's conference call are in Canadian dollars unless otherwise stated. The complete financial and operating results and consolidated financial statements for the 2022 first quarter were published already on May 12th and are available on NXT's website, SEDAR's website, and soon will be available on EDGAR's website. Now over to Eugene for the financial review. Thank you, George. As George mentioned, our 2022 first quarter financial statements and MD&A were filed on SEDAR's website on May 12th and will shortly be available on EDGAR. From a financial perspective, the focus remained on supporting the execution of the business development efforts and continuing to control and optimize costs. Our financial results were as follows. Cash and short-term investments were CAD 1.87 million at March 31st, and net working capital was CAD 1.35 million. Accounts receivable payments of approximately CAD 247,000 were received during the first quarter. CAD 154,000 in April 2022 were also received, and a further CAD 390,000 is anticipated to be received in May. Operating activity used approximately CAD 913,000 of cash during the quarter. There was no revenue for the quarter. For the quarter, NXT recorded a net loss of approximately $1.84 million or CAD 0.02 per share based on 65.3 million weighted average common shares outstanding. This compares to a net loss of CAD 1.65 million in the first quarter of 2021 or CAD 0.02 per share. Operating expenses for the first quarter are CAD 1.79 million, including survey costs. This included non-cash expenses of $0.5 million related to amortization and stock-based compensation expenses. General administrative expenses increased approximately CAD 12,000 or 1% in the first quarter of 2022 compared to 2021 for the following reasons. Salaries, benefits, and consulting charges decreased CAD 15,000 or 3% due to lower vacation expenses and consulting fees. Board and professional fees and public company costs decreased CAD 11,000 or 6%. Premises administrative overhead costs increased CAD 10,000 or 5% as building costs increased mostly due to higher carbon taxes. Business development costs were minimal in both comparative quarters and business development travel was reduced. Stock-based compensation expenses were higher in Q1 2022 versus Q1 2021 by CAD 30,000 due to higher accrued expenses with the RSU plan. To summarize some key financial points, we ended the quarter with CAD 1.87 million of cash and short-term investments on hand, a net working capital balance of CAD 1.35 million, and we received approximately CAD 400,000 of outstanding accounts receivable so far this year, with another approximately CAD 390,000 expected to be received shortly. Our main focus continues to be on the execution of NXT's commercial opportunities. I would now like to hand the call back over to George to further discuss our business update and forward plans. Thanks, Eugene. First, I want to convey my sincere hope that everyone is well and continues to stay healthy at this time. Our last conference call, which was just six weeks ago, but we are pleased to provide further updates today. As Eugene mentioned, although there were no survey revenues in Q1, I believe this company will be generating significant revenue given the benefits of our technology offers to the industry, and new opportunities that exist in the marketplace today. That said, the quarter remained a very productive period for the company on multiple fronts. On the hydrocarbon business development side, commodity prices are expected to remain resilient as global economic activity continues to rebound. Consequently, we are witnessing an increased level in business and engagement with our customers. SFD survey opportunities continue to progress well, not only within our core areas of focus in Africa, Asia and South America, but in the Middle East as well. Our objective has always been to create a sustainable revenue flow. Given the current state of contract opportunities, we are highly confident that our collective efforts will soon materialize and the company will establish a steady cash flow. To that end, NXT remains focused on contract execution. The company is working on multiple opportunities in Asia. Since our last call, I am pleased to report that three of these opportunities have advanced from technical to the commercial feasibility stage. Regarding Africa business development, NXT is in final stages of securing contracts. As we speak, we are preparing for the 2022 SFD survey and working on 2023 and 2024 projects. Naturally, the African continent remains our most major priority, and we are advancing our business with the NOCs and other international explorers. Middle East business development. We have made significant progress in the Middle East in recent months. As you may remember, we have invested substantial time and effort over the years in Middle East opportunities. The company is finally in the position to capitalize on its investment. We will provide further updates as warranted. Continuing with geothermal development update. There's no change in our geothermal programs. Just to recap, the company successfully completed phase I of the SFDGT sensors development program and is currently preparing a phase II submission for NRC IRAP consideration. We believe that our effort in pursuing SFDGT survey opportunities will be fruitful both domestically and abroad. Turning our attention to Latin America projects, we can report on an increased interest in our existing data for sale and continued progress on new contract opportunities with new and also existing clients or repeat clients. We are optimistic the current negotiations are a step to new and repeat business in Latin America. In summary, SFD hydrocarbon and geothermal survey opportunities continue to progress. Additionally, we made advancement with our SFDGT technology and continue to be in discussions with multiple geothermal companies for its services. As always, thank you for your continuing support of NXT. On behalf of our board of directors and the entire NXT team, I want to thank all of our shareholders for their continued support. We wish the best of health to you and your families. I now ask the operator, Omar, to open the line for us and take a few of your questions. Thank you. Thank you. We will now take questions from the telephone lines. If you have a question and you're using a speakerphone, please mute your handset before making your selection. If you have a question, please press star one on your device's keypad. Thank you very much. The first question's from Bob McWhirter, Collective Asset Management. Please go ahead. Hi. On the sensor development, I assume, I think, was financed by the NRC out of Ottawa. Can you talk about the dollar value of what you received, the kind of progress, and then what phase II involves as far as both dollar value and time, and what you hope to achieve, whether you're able to convince them to fund round number two? Yeah. Thank you, Bob, for your questions. You are talking about the SFDGT or geothermal projects, right? Yes. The second phase that basically is the continuation of the first phase is to developing the prototype so that we can test it not only in the land-based vehicle, but also in flight as well. We are planning to do that before we are going to execute the first oil and gas survey program. The second part of it is that we have been talking to our consultants and we have received an excellent response from them. They would like to continue to further and finance the future development. We don't know the exact number yet, and we will let you know as soon as possible. However, we were also informed by them that they would like to bring some experts to NXT to see if we can accelerate the project development and with the infusion of a significant amount of capital, which would basically involve the creation of a subdivision in NXT exclusively dealing with the geothermal activities and clients. Okay. Thank you. The next question from Michael Mark, MARK Capital Management, please go ahead. Hi, George and Eugene, et cetera. Oil hit a new multi-year high today, CAD 114. Just wondering what your marketing game plan is so people know that you're out there. This, my guess is a lot of oil and gas companies are increasing their exploration budgets right now. Just what are you doing? Are you going to any conferences to show these people what you have and how it can expedite their oil and gas exploration processes? Thank you, Mike, for your question. Right now, what is happening at NXT, we probably did about 20 presentations in the first quarter at the request of various national companies and international companies as well. We are planning right now to, beside doing the survey, the first survey, we are planning to be in the Middle East and talk to seven different parties, including the entire country, you know, so national companies and independents. Go to Asia and also have a couple of companies there that requested face-to-face meetings. Now, every one of these meetings were preceded by a presentation, a technical acceptance. Now we are going there to discuss the commercial viability or the commercial aspects of the contracts. I think that we are on the right path right now. We are being sought very extensively in Africa and in Middle East and Asia as well, and South America. We received recently, as I mentioned, some good news, you know, parties, five companies that are interested in our existing data for sale. I think that just to speak to the fact that you mentioned that the oil prices are more stable, sustained, and it will be sustained like this, you know, at least for a year. Companies are recognizing that this is the time, you know, to maybe produce more oil and increase their exploration budgets. I hope that answers your question. Yes, it did. It's very good. You guys are busy, and that's good. Thank you. Very busy, actually. Thank you. Once again, please press star one on your device's keypad if you have any questions. The next question from Tucker Anderson, Above All Advisors. Please go ahead. Hello, George. Hi, Tucker. How are you? Fine. I hope that you and your family have also good health as you wish to all of us in these troubled times. Sort of my question follows up on the last one, and that is, this is clearly a new environment which should be beneficial to you, not just because of the price of oil per se, but because basically that the fact that the Russian lockdowns, which I think they're gonna have to do soon because their storage is filled and their pipelines are full and their ability to sell oil is getting really restricted, means that the whole logistics and supply chain have to be of concern to a lot of people that they maybe weren't, and they're gonna be drilling in new areas and stuff like that. My question is sort of, do you have enough on your plate that you think is gonna come to fruition? Or when you sign these contracts, can you get some upfront payments? Because the thing I'm worried about is, we're in a much, much more difficult market, as you know, for companies that are losing money to raise capital. You continue to need some measure of working capital. What are you sort of looking at as your financing plans and the likelihood that, as I say, you get some upfront payments or things like that to tide you over till these contracts really come online? Thank you very much for your question, Tucker. It's a very relevant question, of course. The two largest opportunities, actually three, is connected with. The first one is connected with a standard payment schedule, whereby we receive upfront payments. The second one is one of the largest NOCs, that is a 45-day payment schedule. The third one, which is the largest oil and gas company on the planet, we do not know yet. We have gone through presentations and so on, but we do not—I cannot answer that question. But I, My feeling is, personal feeling is that, given the opportunities that we have, very shortly, we are gonna be up in the air and we are gonna be able to manage until more and more revenues are received. That's just my personal opinion. Well, good luck. I do think that at this point, as I say, managing cash becomes much more crucial just because of the market and financial environment we're in. Good luck. I hope you get to eat a lot of those meals that are on your plate. That's the idea. This is the time for contracts for sure. Thanks, George. Thank you very much, Tucker. Thank you. The next question is from Bob McWhirter, Collective Asset Management. Please go ahead. Just to follow up on the piece of the standard terms with upfront payment put in the contracts. Would the upfront payment typically be one quarter of the dollar amount or a third? Just what would be typical for your contracts? Maybe Eugene, you can speak to that. Okay. Historically, we've before wheels leave the ground, we in essence get a mob/demob fee, which covers our costs to fly to the location as well as to come back. Then, once we start the survey, ideally before we start the survey, once we're in country, we're asking for and have received a significant payment that's in the 20%-30% range for the first part of the survey, which effectively covers our costs for flying the surveys in that same location. Thank you. The rest is gravy. Thank you. Once again, please press star one on your device's keypad if you have any questions. The next question is from a participant. Please state your name and your company name, and please proceed. I'm speaking on behalf of David Adelstein, as he's lost his voice right now. The question that he'd like to ask, and apologies if this was asked earlier, is when will we be in the air in Nigeria? Specifically, I can't answer that question, but shortly it would be a better answer. There is an opportunity potentially that we are not going to be going directly to Nigeria, but off route to another country where a very large NOC wants to conduct surveys. I'm hoping, I don't know, correct me if I'm wrong or something like that, or I shouldn't say something, Eugene, but I would hope that NXT will be surveying in July. Thank you. Thank you. Thank you. There are no further questions at this time. I would now like to turn it back to Mr. George Liszicasz. Please go ahead. I would like to mention, you know, that I wish David a recovery, the person who spoke on his behalf, and our love to him. Thank you for all of you know, to participate in our conference call. Thank you so much. Thank you. The conference has now ended. Please disconnect your lines at this time, and thank you all for your participation.