Thank you for joining us. We are here to provide a corporate update and report on Thunderbird Entertainment Group's first quarter fiscal 2022 results, which ended September 30, 2021. Speaking on today's call are Ms. Jennifer Twiner-McCarron, Thunderbird's President and CEO, and Ms. Barb Harwood, Thunderbird's CFO. Ms. Twiner-McCarron will provide a strategic overview of Thunderbird Entertainment Group, and Ms. Harwood will review the company's first quarter 2022 financials. Following the corporate update and financial review, the call will open for a question and answer session. If you would like to ask a question during this time, simply press star, then the number one on your telephone keypad. Alternatively, if you have any questions, you can call 604-683-5555 or email investors@thunderbird.tv and the company will follow up directly after the call. At this time, all lines have been placed on mute to prevent any background noise. I'd like to remind everyone that certain statements made on today's call will be forward-looking and constitute forward-looking statements or forward-looking information under applicable securities laws. Forward-looking statements and information discussed on this conference call include, but are not limited to, statements with respect to the company's objectives, goals, or future plans and the business and operation of the company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, general business, economic and social uncertainties, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments. Those additional risks set out in the company's filing statements and other public documents filed on SEDAR at www.sedar.com and other matters discussed in the company's year-end news release. Although the company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this presentation, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. For your convenience, the press release, the MD&A, and unaudited financial statements for the first quarter 2022 of Thunderbird Entertainment Group, which ended September 30, 2021, are filed on SEDAR and are available online under the investor section of our website. We do not expect to update forward-looking statements continually as conditions change. This conference call is being webcast live and the archive will be available on the company's website at www. Thunderbird.tv following today's call. Please note that Thunderbird reports in Canadian dollars unless otherwise stated. Ms. Twiner-McCarron will now provide the corporate update. Thank you so much. On behalf of everyone at Thunderbird, I'd like to welcome you to this morning's call to discuss our Q1 2022 results, which ended September thirtieth, twenty twenty-one. My name is Jennifer Twiner-McCarron, and I'm the President and CEO of Thunderbird Entertainment Group. I'm here today with our CFO, Barb Harwood, and as always, we're both very thankful to have you join us. We hope all of our American friends had a wonderful Thanksgiving, hence the spacing between our PR and this call. We wanted to make sure we were not interrupting our special holidays, which of course are different between Canada and U.S. Once Barb and I finish our updates, we'll be very happy to answer any questions that you have. Regular followers of the company are aware of our ambitious goal to become the next major global studio. At Thunderbird, we're not content with the status quo, and our teams are committed to pushing ourselves creatively to stand out and differentiate our work from other content producers in the market. With quality as our north star, we want to create, own, and distribute award-winning factual, animated, and scripted content worldwide, and we are laying the framework to achieve this. We are focused on producing and distributing premium content that attempts to make people happy and feel empowered while providing a connection and a much-needed escape. Our goal is to create content where we can all see ourselves reflected in a positive light, no matter our race, gender, or cultural background. During last month's year-end 2021 conference call, we shared how Thunderbird's current success is the result of initiatives put into place years in advance. This includes investing in top talent, owned IP, opening additional studios in Ottawa and Los Angeles, launching a consumer products and global distribution division, and building trusted relationships with companies like HBO Max, Nickelodeon, Discovery Channel, Netflix, Apple TV, Disney+, NBCUniversal, CBC, among others. Essentially, the top-tier streaming and traditional broadcasting companies that are hungry for quality content to attract and retain subscribers and audiences. We also shared how we are continuing to build on this by creating a strong foundation to support exponential growth. While challenging, the pandemic forced us to look at our current way of doing things and emerge stronger and nimbler with the added ability to attract talent from across the globe within a remote working structure as we're no longer confined to our studio walls. Since the pandemic was declared, Thunderbird has added 430 new full-time members to our crew, and the company now employs more than 1,400 people. We also have 27 productions on our production slate. Fiscal 2022 is a key year to a continued success as we see it as incredibly important build year, a year where we will be laser-focused on the initiatives and business structures that we need to facilitate our strong long-term growth. Naturally, this involves strategy and thoughtfulness around the content we choose to produce and more targeted efforts around acquiring incremental IP. IP is so important to our growth strategy because it provides ancillary revenue opportunities in toys, merchandise, music, gaming, all across media exploitation, you name it. To this end, Atomic Cartoons, our Kids and Family division, pitched more new series to platforms worldwide this calendar year than in any other year in our history. We will start to see the results of this in fiscal year 2023 and into 2024 and beyond when Atomic begins working on some of these new productions. We can't wait to share with you the types of productions that our teams will be bringing to the screen. The progress at Great Pacific Media, which we know as GPM, and Thunderbird's factual division, is equally exciting as we added more IP series to our production slate. We have previously shared our delight around the renewals for Discovery of our legacy IP properties, Highway Thru Hell, Heavy Rescue: 401, and Mud Mountain Haulers, and we commenced work on three new IP productions that were ordered to series by Corus Entertainment, Styled, working title, soon to be announced, Gut Job, and Dead Man's Curse, which is also the working title, all of which we're really proud to say and excited to have BIPOC leads. Adding more scripted series to our production slate is also incredibly exciting for us. With productions like Strays airing on CBC and a fully owned U.S.-facing scripted series titled Reginald the Vampire for Syfy, which is now in the works and being shot right now. As you can see, our portfolio is expanding, and we're so proud of the productions we are putting our name behind. On that note, we also couldn't be more thrilled to work alongside Wapanatahk Media's Tania Koenig-Gautier and Shirley McLean on productions that support indigenous creatives in the entertainment industry and showcase authentic stories that increase indigenous representation in media. We have come so far in terms of representation for women in entertainment, but we still have so much further to go when it comes to representation of all women in media. The most recent Women In View On Screen Report shows, for example, that in 2019, of the 43% of women in key creative roles in TV and film, only 6.44% were Black women and women of color, while less than 1%, 0.94%, were indigenous women. This same disparity exists across every measured category in film and TV, which is why authentic and equal representation of BIPOC women is a key focus for our team. We see equity, diversity, and inclusion as not only the right thing to do but something that positively impacts our bottom line. A McKinsey & Company study shows that companies in the top quartile for gender diversity on executive teams were 25% more likely to have above-average profitability, and this also rings true for ethnic diversity. The foundational work we are focused on also involves expanding and growing our global distribution and consumer products division to better enable us to exploit our IP and create additional revenue streams. Our distribution and consumer products division will diversify Thunderbird IP, and it will also invest in extraordinary productions from other companies that we can distribute. The demand for content is international, and the opportunities are truly endless as the growth outside of North America is increasingly strong and holds immense opportunities. This is evidenced by the ongoing expansion seen by the biggest players in the industry, such as the recent Disney+ Day on November twelfth, which highlighted Disney+'s bold content expansion into new markets in the Asia-Pacific region. This is why our senior management team is heavily focused on opportunities to expand our content portfolio and are looking beyond the North American market for strategic international expansion opportunities. We are looking to explore acquisitions that not only support expanding our company's IP but also increase our capacity and talent roster as we look to grow our own production output. Content remains king. Currently, there's no ceiling on the opportunity for content in the entertainment industry, and budgets for premium television series continue to get more robust. Netflix, for example, spent over 17 billion on content in fiscal year 2021, while Disney is estimated to have spent over 30 billion on new content across its platforms. Add to this that the consumer spending has increased by 21% to 12.2 billion in the first six months of 2021, and this is according to the Digital Entertainment Group. 2020 and 2021 were transformative years for the film and television industry, and in the upcoming years, audiences' demand for content will continue to grow. The future holds more streaming services entering the market and at a faster pace. With more streamers entering the market, overall spending will reach new heights. In the U.S. and Canada alone, content spending from streamers hit almost 144 billion in 2021, an increase of 16.1% year-over-year. Global SVOD subscriptions are expected to reach 1.6 billion by 2025. In order to stay competitive, platforms will lean on trusted production studios like Thunderbird to deliver premium quality content as they constantly have to refresh their streaming sites. Given all of this, the opportunity for growth in this industry is incredible. However, how we grow also matters. Ultimately, a focus on culture and people has led to excellence in terms of the content we create, talent we've attracted, and relationships that we've built. This is why our working environments and structures are designed for creativity and for culture to flourish with retention strategies centered on inclusivity, safe workspaces, innovation, and communication. Our greatest asset will always be our people, and growing from within is incredibly important to us. I'm thrilled to see people start and progress within our company. Team members moving from production to production is key as people can learn new skills and become more confident to innovate. This results in incredible content, which further contributes to our strong trusted relationships with our partners and buyers, ultimately leading to increases in our EBITDA and revenue, which we are seeing. I have the privilege of working with outstanding individuals each and every day, true leaders in the industry on every level. Collectively, we are committed to Thunderbird's growth and to being smart, selective, fiscally conservative, but taking calculated swings, and good stewards of the content we produce. We're building on Thunderbird's already solid foundation and are on track to deliver not only incredible content with our diversified portfolio of animated, factual, and scripted programming year-over-year, but also shareholder value for those who have put their trust and invested with us, for which we are incredibly grateful. With this, I will turn it over to Barb to go over the highlight of this call, which is the numbers, and then I can provide a more high-level corporate update. Over to you, Barb. Thanks, Jen, and thanks everybody for joining us today. Here are the highlights of our Q1 2022 results. Consolidated revenue was 35.1 million for the three months ended September 30, 2021, compared to 19.8 million for the comparative period of fiscal 2021, an increase of 77% or 15.3 million. 10.4 million of this increase, or 25.1 million, is related to growth in production service projects. The remainder of this increase is mainly due to delivery of season one of the scripted comedy series Strays for CBC, which is a spinoff of our popular series Kim's Convenience. There was no comparative series recognized in Q1 of 2021. Gross margin, as defined by revenue less direct costs, increased from 8.1 million to 10.2 million in the quarter, an increase of 1.9 million over Q1 of 2021. Gross margin percentage decreased 41% to 29.2% due to the increase in production service revenue as a percentage of total revenue. Production service gross margin is typically less than gross margin from our own IP, but remains constant over different projects. Whereas our distribution and licensing gross margin is typically higher than the service projects, but fluctuates depending on the mix and type of content we are producing. The higher gross margin for the owned IP is reflective of the fact that we keep that content in our library and are able to exploit it over time. Consolidated net income was 1.9 million for the three months ended September 30, 2021, compared to 1.4 million for the comparative period of fiscal 2021, an increase of 0.5 million or 36%. Adjusted EBITDA was 6.3 million compared to 4.8 million for the comparative period of fiscal 2021, an increase of 1.5 million or 31%. This increase was primarily due to the growth in production services and the delivery of Strays that I mentioned before. Finally, free cash flow was 3.4 million for Q1 2022, as compared to 1.2 million for the comparative period, an increase of 2.2 million. This fluctuation is mainly due to changes in working capital and net production loan advances. Once again, thank you for joining us, and back to you, Jen. Thank you so much, Barb. I will now provide the corporate and divisional updates. At September 30, 2021, the company had 27 programs in various stages of production. Twelve of these productions are company IP or partner-managed service productions where the company receives a percentage of certain revenue streams. At the end of Q1, our kids and family division, Atomic Cartoons, was in various stages of production on 16 animated series and two feature-length animated projects, 18 productions in total. These programs reflect a blend of both proprietary and service-based work and include LEGO Marvel Avengers for Disney, Molly of Denali Season two for GBH and PBS KIDS, CoComelon Lane for Moonbug and Netflix, My Little Pony for eOne and Hasbro. Curious George production for Peacock, Young Love with Sony Pictures Animation for HBO Max, and Dogs in Space for Netflix, among others. Add to this work already produced by Atomic Cartoons, including Mighty Express, which debuted season 4 exclusively on Netflix, The LEGO Star Wars Terrifying Tales special streaming on Disney+, season four of Trolls: TrollsTopia streaming on Peacock and Hulu, Marvel's Spidey and His Amazing Friends, which is the first full-length Marvel series for preschoolers premiering on Disney Channel and Disney Junior, and Curious George: Cape Ahoy! also debuting on Peacock. Also in Q1, season two of Marvel's Spidey and His Amazing Friends was green lit after an impressive debut on Disney. Shifting focus, our factual division, Great Pacific Media, was in production on eight series and/or documentaries. Highway Thru Hell, season 11, Heavy Rescue: 401, season seven, Mud Mountain Haulers, season two, Dead Man's Curse, which is the working title, season one, Gut Job, season one, Styled, season one, The Teenager and the Lost Mayan City, another working title, and Dr. Savannah: Wild Rose Vet, season one, in conjunction with Wapanatahk Media. We're also proud to share that a second season for Dr. Savannah: Wild Rose Vet has already been renewed before the first episode has even gone to air, so congrats to the whole team. GPM also began broadening its content horizons to serve key audience demographics globally from kids on up, because factual and kids and family programming remains the cornerstone of every broadcaster's strategy to maintain and glue subscribers. As such, in development at GPM is a diverse group of productions in development that range from how-tos, to pop culture, to science, to high action and drama for viewers of all ages. A great example of this is its new series in development, If: Imagine the Impossible, which is based on Underknown's Webby Award-winning social media sensation What If. GPM also recently announced that it has signed with the extremely talented director, writer, and producer Brad Peyton and visionary physicist Michio Kaku to work on this series. In Q1, Thunderbird also announced Reginald the Vampire, our new fully-owned, U.S.-facing scripted series starring Spider-Man's Jacob Batalon. Reginald the Vampire was picked up in a straight-to-series 10-episode order by Syfy and is being produced with Modern Story Company, December Films. We fully own this IP, and it's a strategic move to U.S.-facing scripted. Last but not least, in Q1, Strays, the spin-off series from Kim's Convenience premiered on CBC to rave reviews. This concludes the corporate update for today. As I wrap up my remarks, I'd like to thank you again for joining us to discuss our Q1 2022 results. The opportunities ahead are filled with incredible potential. On behalf of the amazing and talented teams at Thunderbird, thank you again so much for joining us on this exciting ride. Now Barb and I are pleased to take any questions that you may have. Ladies and gentlemen, at this time, if you would like to ask a question, please press star one on your telephone keypad. After we take your question, press the pound key. Your first question comes from the line of Aravinda Galappatthige with Canaccord Genuity. Your line's open. Morning, Aravinda Galappatthige. Good morning. Good morning or good afternoon, depending on where you are, I guess. Congrats on the great quarter in Q1. Fantastic results. I wanted to kind of start off with you know, to look at the 2022 expectations. I know that, you know, as we've talked about many times, you know, there is a lot of lumpiness in quarterly results. How should we kind of think about the full year on the back of these numbers? I know there were a lot of deliveries that strengthened Q1. I wanted to get your thoughts both on top line and bottom line, including, I know, some investments you're planning on applying to the 2022 period. Yeah. It's another growth year. Certainly, you can see, as evidenced by our quarter. Our more exponential growth organically, what we see booked, starts to pop again in 2023 and 2024. You know, this is still a great year as we continue to build a major global studio. As our baseline numbers go up, you know, those huge double-digit growths aren't always the same, but we start to see that again in 2023 and beyond. Again, this is a strong growth year. 2022 is a build year as we, you know, put in more foundations in place to see those huge pops again that we're expecting in 2023 and beyond. As evidenced by the quarter, we're off to a great start. Absolutely. And maybe just to kind of to build on that, maybe Barb, are you able to kind of give me a sense of the cadence this year? I know it's tough to call, but anything out of the ordinary we should be thinking about in terms of seasonality? Yeah. Thanks. Hi, Aravinda. Well, you know, as our production services, you know, we've seen in 2021 our production services expanded quite exponentially. As you get more production services as a proportion of revenue, you're going to smooth out- Our quarters a little bit. You're not going to rely as heavily on, you know, deliverables and things like that of the IP. As we grow, I can say that we can see a lot more smoothing of the quarters. Having said that, as Jen mentioned, we are producing a series called Reginald the Vampire that's quite a large series, and so when that hits, which we anticipate will be in 2022, our revenue will go up more than it has before from a scripted series. Okay. I was going to ask you about that show. Could you give us a sense of how big that budget is? Or, you know, is it more of an end-of-year expectation? Yeah, I can't really say how big the budget is, but it is a 10-episode, one-hour scripted series, so it's bigger than our, you know, on the shows that we do for CBC, like Kim's and Strays, and that kind of thing. More like, you know, a show we did for ABC back in 2019, I think, called Somewhere Between. Yeah, it's shooting right now, so the anticipated delivery would be, end of 2022, beginning of 2023. Okay. Okay, that's helpful. Then, maybe just going back to Jen. With respect to the service business, I know we've talked about, you know, potential hybrid models. You had that with Hello Ninja. Any others that are on the horizon or that maybe you can mention have already occurred just to kind of give a sense of how that model is building? The partner-managed one? Yeah. Yeah, that's where it's kind of a hybrid of service and ownership where we don't keep the copyright, but we do participate in all of the back-end toys and whatnot. I think I'm just trying to be careful here I don't say something that hasn't been announced 'cause there's a lot of them, I'll be honest. I know one that has been announced and that just is airing to good reviews is Dogs in Space. That's another one set up in that model. I think I'll be able to speak of more in Q2. Great. Thank you. Last question. I think I asked you this recently as well, but you know, if there's anything more to add about the sort of the M&A landscape. You know, there seems to be a bit of a pickup in deals that we're starting to see in the landscape, which I guess is a good thing. Anything else you've noticed that you care to add? I think it's just sort of underscoring that people recognize the demand for content, the huge industry you know, theme that content is king, and that all of these current streamers and more coming online, what we do is incredibly valuable, and it is hot in the space. People looking to acquire, retain, own content. So it's a really you know, luxurious time to be doing what we're doing. We're incredibly grateful to be in this time in this industry 'cause it is hot. Absolutely. Okay, thank you both, and look forward to the upcoming results as well. Thank you. Thank you, Aravinda Galappatthige. Your next question comes from the line of Adam Wilk with Greystone Capital Management. Your line's open. Hi Adam, how are you? Hi Jen and Barb. How are you? Doing well, thanks. How are you? Great. It's good to hear from you. Thank you for taking my questions. Congrats on a great quarter. Really blown away by the revenue increases and the production services work. It's just phenomenal. My question was actually asked already, so that's great, but I guess I could ask sort of a follow-up on the M&A stuff and maybe if we can get an update on sort of your internal M&A efforts and kind of where you guys stand with that in terms of if you're still interested in doing something and maybe how you're kind of thinking about financing it. Any update there would be great. Thanks. Yeah. Thanks for that question, Adam. Essentially, we are heavily focused on it. You know, again, we're not looking for a roll-up strategy. We're looking for a strategic growth engine for our company. We've got great organic growth, so I'm confident just what I see with what we're doing. But we want to go where you know, we can see the streamers, Disney and Netflix, who we work heavily with, just for example, have publicly announced they need to get into Southeast Asia and Europe to increase their subscriptions, which is how they're valued. That's the merit by which they're judged, by increasing subscriptions. They won't be able to just get into all these regions where they need to stream and stream North American content. They have to stream content that's native to the regions where they're streaming. By us having ownership in these areas, we can help turn out content with our L.A. base, help sell it, IP that's native to those regions, and then run that content through our burgeoning consumer products and distribution division. That strategy of ours remains laser-focused, and we're in conversations with about 30 companies, well into due diligence with, I'd say six or seven, and we're really looking for that right cultural, strategic, and financial fit that will help take us to the next level. What we're looking at is, Thunderbird is the overarching entity. Think Disney with ILM, Pixar. We have Thunderbird, we've got Atomic with GPM. These two divisions are off to the races in terms of success and profitability. We're looking to add on other labels, international labels, that are successful in and of their own right, that can give us that international footprint and help take us closer to being a major global studio, which in today's day and age, in this world, you do need to have an international footprint. That remains laser-focused, and we are heavily spending time on it. In terms of the second part of your question, how we look to pay for that, it would be a mix of cash, and shares, and then earn out based on performance. Okay, great. Maybe just one more for me. In line with your comments for the full year 2022, in terms of being a build year, obviously, I guess for anybody who's kind of followed your business, it doesn't really make sense to evaluate Thunderbird on a quarterly basis, especially because you're in growth mode and making a lot of investments, and I think that's probably going to continue into the foreseeable future, doing so profitably, which is great. Does the build year stuff relate mostly to your own IP work? I guess with the growth in production services, how are you guys now kind of thinking about the continued shift toward more higher margin owned IP? I know Barb touched on this a bit, but I'd be curious if you have any follow-up comments. Absolutely. I think, you know, when I referred to build year, a lot of the IP that we're turning on, you get paid upon delivery. That type of work, once you deliver it, that's when you get paid. Of course, we're seeing tremendous opportunity in production services, where we're servicing really high-end brands like Spider-Man and, you know, CoComelon. Moonbug just sold, who owns CoComelon, to Blackstone for $3 billion because of that property. Strategically, when we service shows like that, then we can, you know, go around and easily sell our own toddler show. We continue to build on the momentum that we've put in place. We just opened our consumer products and distribution division this year in January, so these things take a little bit of time to come to fruition. Barb, did you want to add to that? Yeah. It's Adam, it's mainly just timing. I mean, you know, like once we you know our new division is really working hard at getting these properties green-lit. Once they're green-lit, obviously they go into production. If it's an animated show, it's you know like a two-year pipeline or you know things like that. Then we recognize at the very end. All these things that we're kind of firing on all cylinders right now, we'll start to see the results of that a little bit later than 2022. Okay, perfect. Yeah, that's it for me. Thank you again very much, and congrats again. Thank you so much, Adam. I appreciate you staying with the company. Once again, if you would like to ask a question, please press star one on your telephone keypad. Your next question comes from the line of David McFadgen with Cormark Securities. Your line's open. Oh, yeah. Thanks a lot. A couple of questions. In the past, I think, you know, for the most part, the business has been, I think about 50% proprietary, 50% service work, and I was just wondering if you can give us an update on that ratio looking into 2022 and 2023. Yeah. Hi, David. That's a great question. I think, you know, we're holding steady and looking. You know, the goal is to have the IP increase in ratio. You know, we really value the mix of service work. It's great for cash flow, takes out a lot of the lumpiness of quarters, which is reflected, you know, which is necessary in the public market. Barb, I don't know if you want to weigh in on any exact percentages right now, but essentially, that 50/50 mix, we're looking, you know, to see it increase towards IP over the coming years. Yeah. Definitely we're looking to increase. I mean, you know, when we opened up the studio in Ottawa and L.A., that's why our production services has now gone full steam ahead, kind of starting last year and continuing into this year. It's sort of overtaken the IP just by the fact that you can recognize it right away, you know, rather than waiting and recognizing it. It's definitely our desire and our plan to start bringing the IP up in terms of ratio of projects, but it takes time. Okay. Then maybe a follow-up question on Strays, 'cause I know this is a sequel to Kim's Convenience. I thought Kim's Convenience was an IP show. I think it was an IP show. I would've thought Strays would be IP as well, but I think in your MD&A it said it was service. I was just wondering if you can give us an update there. Oh, no, it is definitely IP. It might have been mixed in with like the increases in the revenue are due to both the production services increase and the delivery of Strays. If you take a look at our MD&A, at the revenue split out, that increase in the revenue split out, as compared to Q1 2021, is Strays under the distribution and licensing revenue line. Okay. All right. I guess it wasn't clear to me. Just lastly, just on investment in film, I was wondering, can you give us any idea of what the magnitude of your net investment in film might be for 2022? I can't say for sure. It really depends on a lot of different factors, of course, because as soon as we recognize something, as you know, it releases that amortization from that line. It'll probably be very similar to 2021. Okay. All right. Thank you. Thank you. This concludes our call today.