About how to provide safe, reliable, low-carbon electricity to the new economics, right? SolarBank is a Nasdaq-listed company on Nasdaq Global Market under the symbol S-U-U-N. And also we are a Canadian company. We also listed in Canada under the symbol S-U-N-N, right? The company has a simple purpose: it's basically to turn the light into electron-selling electricities, right? I am 34 years in Canada, in North America, working for major power companies. So I worked for Enbridge, learned my oil and gas business. I worked for Toronto Hydro, learned my wire business. So when I step out of my executive position from Toronto Hydro, I started my own business in 2007. And I look at overall things after doing manufacturing of producing panels, cells, and other silicons, and so on and so forth, decided to focus on the downstream operation of building power plants. Because at the end of the day, what we benefit as consumers is to keep the lights on. I'd like to keep your lights on with low and zero-carbon electricity, right? So if you look at this overall, saying that you see generation, transmission, distribution, and the services, that's how the power gets to your home. That's the power how to get to your office. That's the power how to get to, machine running. So from our perspective, we deploy our resources that at the generation level, we build large solar farms, right? Like the one you see, in California, in Arizona, those places, right? We're currently building a large utility-scale battery storage, 60 megawatt-hours, under the contract for Ontario Grid Operator, 21 years of fixed-income contract. We sell capacity at $1,000 per megawatt per day, right? Going, moving to the distribution level, as you know, the community solar is very, very vibrant in the United States. 22 of the states allow us to build solar farms and sell power at a retail price to residential customers. At this moment, we have about 10,000 customers, taken care of by two call centers, one in Chicago, one in Boston. And that's our major, bread and butter, right? Then on the behind-the-meter ones, we're currently building for Fiera, a $7 billion real estate company, for BentallGreenOak, for Pure Industrial. Those are the companies they want to decarbonize their operations. So we build behind-the-meter facilities for them, so that they can achieve the goals, right? We started building EV chargers on the Walmart facilities to get into decarbonization of the transportation business. We will get into more of the Fortune 100 company site, continue to do so, right? If we also have a plan to do hydrogen, is that when the big solar farms or wind farms got curtailed, the power has nowhere to go. That's where we will turn the electrons into molecules and then supply them for either, you know, mixed with natural gas or power, hydrogen vehicles. If you look at those ones, you will say, you know, why are we doing all of those ones, you know, since that they cover the whole value chain of the industry? I'll give you a simple economics. When you own and operate a large solar farm, you sell power at a wholesale price: $0.04/kilowatt-hour, $0.05/kilowatt-hour, right? When you have them stored and sell the same power at peak demand, you're probably selling them $0.07 or $0.08 a kilowatt-hour. When we do community solar, the same electron you sell at a retail price, $0.10, $0.12 cents kilowatt-hour. If we put the same power behind the meter on the buildings and so on and so forth, you're basically paying, get paid for about $0.18, $0.20 a kilowatt-hour. The same power, if we sell it at EV charger, is about $0.50 a kilowatt-hour. So we are deploying resources to making sure that we, in the future, we truly, truly a zero-carbon power supplier to the society, right, using the, SolarBank AI system, which is actually on my phone, to deliver electricity or hydrogen to the customers. You probably know the background of the Inflation Reduction Act, investment tax credit transferability, and all of those major, major ones. Here is the big energy flip in North America. So that's why we focus in North America. You know, I used to run European operations for large solar farms. I used to be making silicon in Canada, solar cells in Germany, modules internationally. But I think the most, I would say, reliable opportunity is in North America in the next 10, 15 years, because we do have a need to flip our industry's electricity needs from 80% fossil fuel-based to renewable-based. So that's a huge opportunity that we are doing. I founded the company in 2013 as the founder and present CEO. I always make sure this company has a reliable customer base and also has the economics so that our investors are satisfied, right? If you look at those ones, you know, Honeywell, right, we did $41 million already, right? If you look at the Pure Industrial, you know, we are building for them in Calgary Airport, you know, the Charlies, and they are a, you know, a leading, I would say, fast food, healthy food chain, and they are actually providing renewable energy for their operations, right? So the list goes on and on, right? One of the things that we can carry so much along the value chain is because we structure the company based on vertical integration, right? By heart, we started as a developer. We secure the sites, we run economics, and then we go out to do public meetings, getting permits, and then we get interconnections. So eventually, we get a construction permit, right? From there, we are an engineering company. We are licensed in many provinces. So we will be the ones actually do the construction and be the general contractor. We hire local subtrades, electrical, mechanical, civil, to build it. But we are the general contractor, so we can guarantee, we can ensure the construction is on time, on schedule, and meeting the budget requirement. So from there, that we run operations. You know, for the solar farms, we sold to Charlies, we sold to True Green Capital, we sold to Honeywell. They are not in the business of running those power plants. So we were taking care of them for a fee to run those operation maintenance, right? And we added the O&M revenue beginning of our fiscal year, which is July the 1st. Now we own $100 million of asset, 70-80 plants, bringing about $1 million recurring revenue for the next 21 years, you know, with those ownership, right? So this is a key differentiator from a lot of other companies in this area. They are either developers that they sell the papers and move on, or the builders. They also participate in the EPC bidding for the lowest price, the margin sucks, right? Or so on and so forth. So that's where we are vertically integrated. There are four markets. We do behind-the-meter for large corporations. We do community solar, and we also do large scale, right? So that allows us to deploy our resources in a timely fashion so that when the, permitting is delayed, we can go to do a large solar farm. When the solar farm is delayed because of interconnection, we can do behind-the-meters, right? When there's a roof replacement, we can go back so that we don't incur the kind of delays most developers or constructors that face. I'll give you two examples of how we make money. This one is the traditional model. We make money by developing the projects, by building the project, by operating the project. $41 million on a contaminated land that Honeywell owns. They hire us to develop them, getting regulatory approvals. They hire us to build it so that they can be connected to the national grid. And also, they hire us to run it for them for 35 years, right? So that's the development, build, operate, and the sale model, right? This model gives our investors recurring revenue for the next 35 years per project, right? So we acquired this fund that closed July the 1st, the beginning of this fiscal year. We paid them CAD 45 million all-stock deal. And those investors are high-net-worth individuals that worked with them for the last 10 years. We built every asset over there. Those are under government contract, FIT in-tariff contract for another 15 years, right? So this is the one that gave us recurring revenue, about CAD 1 million a month, right? So if you look at all of those ones to say, "Okay, now we know you have four revenue sources, and we now know you go to three market segments. We now know you are vertically integrated. What the future will look like," right? So at this moment, we own 32 megawatts, about 100 facilities. We are running it, you know, using AI-assisted SolarBank AI system, right? We have sold 25 megawatts to Honeywell, to Charlies. We are building the 60-megawatt battery already, fully financed. That's the current, right? We are now trying to decide in the next 6 or 12 months, the 138 megawatts, do we sell them, right, making development fees, construction fees, and operations and maintenance fees, or do we hold, own them? If we own them, where's the sponsor equity coming from, right? So at the end of the day, if you look at our backlog, that's about 1 gigawatt, you know, $1.50 a watt. That's a backlog of $1.5 billion. So this company has a solid potential to deliver over the next 3 to 5 years of that backlog, right? We obviously took the role of the company organically for the last 11, 12 years. And now with public listing, we have access to the public market. We are looking at mergers and acquisitions. As you know, we are not the only company in this area. So we always look at other competitors and so on and so forth. And because of the management discipline and our structural, that we were able to identify stressed assets or companies, and we will acquire them. And those are the ones we completed the merger acquisition in the last 12 months, okay? So if you look at those ones, you know, these are self-propelling circles that drive the company forward. Vertical integration gave us the opportunity to grow, and then the profitability comes because they are self-servicing, right? If you look at, say, okay, all good, what the company will look like in the next three to five years, right? In the next three to five years, this company will continue to be a developer and earning development fees, construction fees, and operation and maintenance fees, you know, probably moving from $60 million to about $100 million, right? This company will grow while maintaining the revenue, will grow significantly the asset. We currently own $100 million assets. We might own a billion-dollar assets, right? That will give you $100 million of recurring revenue. To do that, you know, we have great ways to finance it, you know, 50% of long-term debt, project-level non-recourse, 30%-35% ITC. We basically transfer the ITCs, right? So we probably need another 15% of the sponsor equity, which we could in part come from our income from operations, because we do have $60 million revenue. We don't burn that much money every year. Our burn rate is probably $3-$4 million, you know, in our company, per capita revenue target or record is about $2 million, right? So $60 million, we could have 30 people. We only have 25 at this moment, right? So, and the rest of them, you know, depends on investment and market performance that we could raise from the capital market. So it's not a huge dilution for our shareholders in the next 3-5 years, right? If you look at our track record, I started the company in Ontario. We own half of the market in Ontario. So the development fees are more than enough to keep the company going. By 2017, that we have engineering, procurement, construction capabilities. And by 2022, we start to own projects, right? If you look at it today, we have income from development and construction total about $58 million. And we just closed the acquisition of $100 million assets that will add another $10 million revenue by, you know, this current fiscal year, okay? If you look at our last three years of financials, you know, we doubled the revenue significantly, $10 million, $20 million, $60 million, right? We break it down from development. That's probably the payroll, you know, engineering, procurement, construction, that's working capital, and sponsor equity, right? The operation maintenance and independent power producer, that's a recurring revenue because we own asset. We provide services to maintain and operate those solar, and battery and EV charging facilities, right? The rest of them looking good, but I think, you know, you probably noticed that we actually lost the money net income-wise, the June 30th. That's a one-time charge because we moved from venture capital listing in Canada to mainboard in Canada to NASDAQ, global market. There's lots of legal accounting, auditing costs and so on and so forth, you know, investment relations being the new kids on the block that there are one-time charges, right? Our Q1 will be out in three weeks that you probably will see the different scenario, okay? The shareholder structure is very, very, I would say, simple. There are major about 10 of us influence about 80% of the overall shares. We are all escrowed for three years. So that's where we're not, you know, rushing to the door to exit, right? At this moment, what we have done over the last 18 months, our number of shareholders increased from 300 to about 4,000. Most of them are retail investors. We're looking for long-term institutional investors, and there are about a dozen start to show interest to us, right? And then, you know, given the stage, we only started operating in Nasdaq in April. So that's what we're hoping in the next, you know, 12 to 24 months to have a significant recognition and a growth in the stock market with Nasdaq, right? As I mentioned, this company really makes a difference because of our ability to execute, right? Solar is very simple, right? A piece of glass on a stick standing in the sun, turn light into electron, making money cannot be simpler. There's no moving parts, right? Cannot be simpler than that, right? But why some company not making money? Why some company making money, right? The key is execution. The key is the people that they can make things simple, focus, and deliver on speed. So in this regard, the Chief Development Officer, Tracy, will bring the project from site control to construction ready. The Chief Operating Officer, Andrew, will use his engineers and construction crew to build it. And Sam, the CFO, will make sure there's cash support. And we have a great board. They are actually working board, whether they are big, fund or legal or operation assets, right? I want to stop here just to answer some questions, right? If you look at for investment, you know, will this company have the opportunity to five times where we are? The answer is yes. If you look at this company's product, that will you need electricity? The answer is yes. Will you think the electricity price will increase while demand increase by four times in the next 25 years? The supply will not be coming online quickly, so the price will increase, right? So from that perspective, we focus on North America because that's the big, power flip, will happen. We vertical integrate allow us to control cost, control speed, control quality, and also, cultivate customer loyalty to us, right? And the market segments by doing behind-the-meter community and the utility allow us to deploy capitals on a timely fashion, right? So that we don't have to hurry up and wait or stuck in the interconnection queue, right? We can always move our, people around those three market segments. And we do, we are keeping our track record, and we do intend to keep it that way. So for that, I will stop here and, just, any questions, I will try my best. Yes. So in terms of how you acquire the building construction deals, how, what is your pipeline for those, or the final for that, and how do you select which ones to go forward with? Yeah. So really about, you know, financing and acquiring, you know, projects, right? So if I go back to here, right, you can see that, you know, they are 12 months out, 6-12 months out, 6 months out, and then, you know, online, right? So we have a, let's say a gigawatt of projects, right? They get to the pipeline or backlog because we have site control. From site control, we go to the grid, have interconnection. When we remove those binary risks, right, they go into permitting. As you know, permitting is a, I would say, public engagement. You know, some places welcome it, some places they may not welcome it. You know, it's a process may take 6-9 months, right? Some of them fast, 3 months, some of them slow, 9-12 months, right? So that's over time, if you look at our final, it really there are things going through the different stages at a given time. Yes. How do you think about geography? U.S., Canada, I know in the U.S. permitting actually is very in the county and state. Where do you pick up from transport? Very much very locally so you're having that work like the piece of the port. Yeah. So the question is about how do we, you know, decide that geographically? So Canada and the U.S. are certainly, you know, integrated very well. Canada is a natural resource country and 80% of power is already renewables, but they do have three provinces very, very carbon heavy, like Alberta, Nova Scotia, New Brunswick, right? So we focus on those places, right? But in the states, there are 50 states. They have different market, you know. Only 22 of them have a community solar regulation, which allow us to sell power directly to consumers, right? So we focus on those states such as New York, Maryland, Maine, Massachusetts, Illinois, and those places. The interesting you mentioned is the permitting and also I will say the second risk is the interconnection. So that's why we always select energy communities. We select, you know, if you look at the process, the first one get on this one is my policy analyst. In the, she will look at every county level or even village level. Do they support? If they do, we have financial analysts to see if we do a project in this place, will that give us the hurdle rate? After that, we secure the site. And even if that's the case, until we get certainty on interconnection, it doesn't get into the production line, right? So that's how we gate every stage. Yes. I'm just trying to kind of parse some of the things you talked about. In some ways, it sounds like a solar utility company that people are buying here. But I'm a little confused by, you know, you mentioned the sponsor capital that's used to build some of these new facilities. As a prospective stockholder, am I gonna be providing that capital? I'm just trying to really get like figure out what kind of animal this really is and what the expectation should be. Is this a dividend in a couple of years? We're getting a nice yield or how is that gonna play out? Yeah. So, it's in transition from a developer, which is a fee-based, to an independent power producer, right? So if you look at those two columns, income as a developer, right, that's the cash flow, right? Because that's enough to keep the company going, to give us the working capital, right? And give us, you know, the right to service the customers. But it doesn't give us recurrent revenue. So in that case, you will never have dividend, right? Having said so, now we are actually profitable for, you know, for 11 years that we have money to own the projects. As we own the project, we become an independent power producer, which means, you know, for example, we now own $100 million assets, give us $10 million recurring revenue every year. That becomes additional working sponsor equity to own more projects. Every $10 million sponsor equity will give me $50 million of assets, right? So we will grow this like a snowball, right? But at times, there's a maturity. At maturity, you will consider this company as a service company because there's always companies like Fortune 500. They need this one for return, for taxes, for their ESG needs, right? But we do want this company like a Highbridge that will not only have a good performance, very stable stock performance, right? Not like those ski slopes that have a boom and a bust, but as a, you know, a utility kind of stock, but at a higher than the utility return. You know, I used to be the one defending my utility, Toronto Hydro, for rates. Regular return is about 8% or 9%, right? And we provide a zero carbon electricity at 10% or more, right? And at that time that we do think, you know, let's say five years beyond that we don't have a need to continue to grow like beyond 2030, that will be dividend going forward. The good thing about this one, you think about it, everyone needs electricity, right? This electricity, I do not pay for the fuel. I don't pay for the light. That's 30% cost saving. Fossil fuel people, they pay tax on carbon. I don't pay tax, right? So that's the major economics that are going forward. Can you continue to have the upside from generally higher nominal cost for electricity on a kilowatt hour lease? Yes. Yeah. Okay. Thank you. I know I'm on time. Officially out of time. Okay. Thank you so much.