Good morning, ladies and gentlemen, and welcome to the VOTI Detection financial results for Q1 fiscal 2022 conference call. At this time, note that all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance Thank you very much, operator. Good morning to all of you on the phone and on the webcast. Welcome to VOTI's fiscal 2022 Q1 results call. With me is Dan Menard, our Chief Operating Officer and Interim CFO. I'd like to remind everybody to please refer to our website at votidetection.com under the investor relations section to view our notice regarding forward-looking statements. On today's call, I'm going to highlight our performance in the quarter, update you on our outlook for the current fiscal year, and then Dan will take you through the Q1 numbers. When we spoke at our year-end results call less than one month ago, we previewed the weakness that we were experiencing in our Q1 results. The actual results posted were in line with those expectations. The weakness in our revenues during the quarter were related to the impact of the Omicron variant and the resulting slower than expected recovery from the pandemic's fifth wave. Customers pushed off orders to later deliveries, thus severely impacting our performance in the quarter. Our sales pipeline has returned to better levels post Q1. With our Q1 in the books, visibility has been improving, and Q2 should see some sequential growth, and the second half of the year should see year-over-year growth. As a result, based on our current view, we are reiterating our guidance for fiscal 2022 of revenue between CAD 26 million and CAD 28 million, up 14% over the year at the midpoint. Management anticipates gross margins to be in a range of 36%-38%. As I mentioned during our year-end call, VOTI's base of business is growing as the company continues to benefit from improvements in the technology and feature sets, resulting in our company capturing new market segments such as the U.S. federal government as well as air cargo. These new markets will serve as catalysts for growth in 2022 and beyond. VOTI has also begun enhancing its presence in existing verticals such as the Canadian federal government, distribution centers for loss prevention, as well as correctional facilities. Following the announcement on February 14th, and the key strategic approval of our X-ray systems for use by a large U.S. federal government agency and global facilities, over the past few weeks we have announced additional strategic wins for the company. On March 3rd, we announced that we had received an order from the Scottish Ministry of Justice for 12 of our XR3D-60s MATRIX and our -50 S as well. The order was a breakthrough for our company as it represents a new customer in a new geography. It's significant as well and that it represents our success in further penetrating the prison vertical. In addition, on March ninth, we announced the first time order from the Central Board of Indirect Taxes and Customs, a division of India's Ministry of Finance and the country's highest customs authority. We continue to benefit from our strategic initiatives undertaken over the past number of years with the success of both our launch of our Linux-based MATRIX series of scanners, which yield improved gross margins and the launch of our VotiINSIGHTS platform, which is our fleet management tool, which was developed in conjunction with the key U.S. Federal Government Agency. With that, I'd like to turn the call over to Dan Menard to review our Q1 results. Dan. Well, thank you, Rory. Here are the financial highlights for the Q1 ended January 31, 2022, with a comparison to the same respective period in 2021. Revenue for the three months ended January 31, 2022 total CAD 4.3 million, compared to CAD 6.3 million for the same period in fiscal 2021, a decrease of CAD 2 million or 32%. The company sold 116 security scanning systems, compared to 167 during the same period in fiscal 2021. The decrease is primarily attributed to the lower volume of systems sold, including the product and geography mix of the systems sold, which in the three months ended January 31, 2022, includes a greater number of systems at a lower pricing compared to the same period in fiscal 2021. This is partially offset by an increase in after-sale service and extended warranties revenue. Gross profit decreased to CAD 1.4 million or 33% of revenue, compared to CAD 2.4 million or 37% of revenue for the same period in fiscal 2021. A decrease of CAD 1 million or 4% of revenue. The decrease in gross margin of 4% is primarily related to the lower number of systems sold, including their product and geography mix. The 3.5% increase in the average component cost per scanner, resulting mainly from an increase in freight costs allocated to the inventory sold, due to the impact of COVID-19 on the global supply chain, and the termination of funding from the Canadian federal government's CEWS stimulus program. Those are partially offset by an increase in revenue from after-sale services and extended warranties as a percentage of overall revenue, which carry higher margins. Net loss increased to CAD 1.2 million compared to CAD 1.1 million for the same period in fiscal 2021. The increase in net loss of CAD 59,971 is primarily related to the decrease in gross profit, the increase in general and administrative expenses, selling and distribution expenses, and R&D expenses, partially offset by the decrease in net financial expenses, increase in non-cash gain from changes in fair value of embedded derivatives, increase in non-cash gain from change in fair value of warrants, and a decrease in share-based payments. Adjusted EBITDA decreased to a loss of CAD 953,072 compared to a gain of CAD 503,375 for the same period of fiscal 2021. The decrease of CAD 1.5 million is primarily related to the decrease in gross profit and increase in net operating expenses. During the three months ended January 31, 2022, the company had a balance of net cash used in operating activities of CAD -482,229, compared to a net cash operating activity of CAD 2.2 million for the same period in fiscal 2021. The decrease of CAD 2.7 million is primarily due to a decrease in cash-based operating results for the period and the negative impact from the change in the company's non-cash working capital compared to the same period in fiscal 2021. I also wanted to update you on our brokered private placement led by Echelon Wealth Partners Inc., which closed yesterday. The offering consisted of 15,717,434 units of the company at a price of CAD 0.15 per unit for gross proceeds of approximately CAD 2,000,036, which each unit consisted of one common share and one half of one common share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of CAD 0.20 per common share for a period of 36 months from the closing date of the offering. While we had originally set out to raise CAD 4 million, we closed at CAD 2.36 million level in what was a very challenging market environment for microcap financing. Proceeds from the private placement will be used for sales, marketing, general, corporate, and working cap purposes. I refer you to our last MD&A released yesterday to get the full details on our Q1 results. In the MD&A, you will also be able to view our discussion of risks and remediative actions related to the COVID-19 pandemic. With that, I will turn it back to Rory. Thank you very much, Dan. It's quite clear that the pandemic has taken a very heavy toll on our operations, and that seems to be a sentiment echoed industry-wide. However, through the success and combination of aggressive mitigating strategies and initiatives, we have emerged from 2020 and 2021 as a much leaner organization than we were going into it. While the recovery has been somewhat slower than we originally anticipated, we are looking for strength throughout our current fiscal year. A quick word on the recently completed financing, as Dan has just discussed. Financial markets have seen much volatility since the beginning of the year. We found ourselves marketing a deal in perhaps the worst possible environment for a micro-cap company to be trying to raise capital. When we started, we priced off of the then market price for the stock, which was CAD 0.27. As conditions in the market continued to deteriorate, we found ourselves in a position of having to reduce the offering price from CAD 0.20 to CAD 0.15 in order to attract investors. As Dan mentioned, we closed with CAD 2.36 million, which generated net proceeds to the company of approximately CAD 1.95 million. It should be noted that we set out to initially raise, as Dan pointed out, CAD 4 million. Our backlog and sales pipeline has strengthened with a recurring and increasingly diversified and international customer base and its expanded product line. Based on this sales pipeline and the benefits of a targeted strategy to enter into new verticals and increase opportunities within existing verticals, we see some positive signs for the company moving forward. With that, I'll ask the operator to open the line for questions. Thank you, sir. Ladies and gentlemen, if you would like to ask a question, please press star followed by one on your touchtone phone. You will then hear a three-tone prompt acknowledging your request. Should you wish to withdraw from the question queue, please press star followed by two. If you are using a speakerphone, we do ask that you please lift the handset before pressing any keys. Please go ahead and press star one now if you have a question. Your first question will be from Amir Azzat at Echelon Wealth Partners. Please go ahead. Good morning. Good morning, Amir. Good morning. It's Michael Vaccarino here actually on behalf of Amir. Yeah. Thank you for taking my questions. We saw a large buildup of inventory this quarter. Yeah. I assume it's in preparation for your strong pipeline for the balance of the year. I'm wondering, are you having any difficulties getting any components that may cause delays toward a completion? Yeah, the inventory buildup is definitely a function of having you know the extended order times. You know, we've moved between 16-20 weeks from you know call it 5-7 weeks. Yeah, you're forced to forward order stuff and then you know take that component inventory and you know create the finished goods in order to fulfill and satisfy what your sales projection looks like for the you know back half of the year. Okay. On margins, you reiterated the 36%-38% for the year. Yes. With inflation in wages, freight costs, components, et cetera, how much wiggle room do you have to hit the target? Well, you know, we anticipate selling more of our MATRIX series, which basically gives us a significant increase in gross margin by virtue of the fact that we are able to save money on several components in the architecture of the machine. As well as looking at expanding the sale of software, particularly as it relates to a U.S. federal government agency who will be retooling their fleet and we see that activity. It has commenced, as a matter of fact. We've received POs and are shipping our first orders in this quarter and anticipate receiving further POs as we move forward on a monthly basis. Okay, one last one from me. How should we think about capital structure going forward? Is the bulk of the money raised going toward debt repayment? Are you looking to keep some cash on hand for some flexibility? Well, first of all, we're going to be paying trade payables, for which we have some arrears at this time. You know, then just yeah, general working capital to do it. We're anticipating to honor our commitment to pay down CAD 1 million on a monthly basis of our Espresso Capital loan, of which we've commenced paying the first month. Aside from that, we're not anticipating retiring any further debt. Okay, great. Thanks. I'll pass the line. Thank you. Once again, ladies and gentlemen, if you do have a question at this time, please press star followed by one on your touchtone phone. At this time, Mr. Olson, we have no further questions. Please proceed. Well, thank you again for your interest in VOTI. Both myself and Dan are available at any time to answer any further questions you may have. Please stay healthy and stay safe, and we look forward to speaking to you soon. Thank you very much. Thank you, sir. Ladies and gentlemen, this does indeed conclude your conference call for today. Once again, thank you for attending. At this time, we do ask that you please disconnect your lines.