Good day, and welcome to the Alico Strategic Transformation Update conference call. Currently, all participants are in a listen-only mode. As a reminder, today's conference is being recorded. I would now like to turn the call over to your host, Deirdre Thomson, with ICR. Good morning, everyone, and thank you for joining us today. On the call today, representing Alico, is John Kiernan, President and Chief Executive Officer. Yesterday, the company issued a press release announcing a major step in its strategic transformation, which is expected to unlock value in Alico's land holdings. By now, everyone should have access to the press release, which went out yesterday at approximately 4:00 P.M. Eastern Time. If you have not had a chance to view the release, it's available on the Investor Relations portion of the company's website at alicoinc.com. In addition, we have a presentation accompanying today's call, which can also be viewed on the Investor Relations portion of the company's website. This call is being webcast, and a replay will be available on Alico's website as well. Before we begin, we'd like to remind everyone that the prepared remarks contain forward-looking statements. Such statements are subject to risks, uncertainties, and other factors that may cause the actual results to differ materially from those expressed or implied in these statements. Important factors that could cause or contribute to such differences include risks detailed in the company's quarterly reports on Form 10-Q, annual reports on Form 10-K, current reports on Form 8-K, and any amendments thereto, filed with the SEC and those mentioned in the earnings release. The company undertakes no obligation to subsequently update or revise the forward-looking statements made on today's call, except as required by law. It is my pleasure to turn the call over to the company's President and CEO, Mr. John Kiernan. Thank you, Deirdre. Good morning, everyone. Thank you for joining us. Approximately two months ago, we announced our strategic transformation to become a diversified land company, with each of our properties expected to create profitable agricultural revenue opportunities that are not citrus-related until the highest and best use for these acres can be realized. We are transitioning from traditional citrus operations to positioning 25% of our land holdings for strategic development opportunities, with approximately 10% targeted for development within five years and approximately 15% targeted for development beyond five years. Approximately 75% of our land holdings remain for diversified agricultural ventures. We believe this move will provide investors with the benefits and stability of a conventional agricultural investment, with the optionality that comes with active land management. We are constantly evaluating properties to determine what will create the highest and best use for shareholders. Instrumental in that process is evaluating all opportunities where Alico can leverage conservation programs to simultaneously create value and enhance environmental outcomes. As part of that evaluation, we are actively pursuing land use and zoning approvals for selective properties where the market indicates there is growing demand for well-planned projects. These planning efforts include engagement with agencies and stakeholders to ensure that Alico considers and incorporates feedback to improve designs and better integrate with surroundings, and ensure that community infrastructure will be available to support the projects. In lockstep with this transformation, last night, we announced a major milestone and our first major step in this strategic transformation. We have identified approximately 5,500 acres across four counties that we believe have the opportunity to generate between $335 million-$380 million in revenue within the next five years. The majority of the revenue will be generated through four properties. We just filed a development application for the first property that we are referring to as Corkscrew Grove East Village and Corkscrew Grove West Village. This will ultimately be two master planned communities consisting of approximately 1,500 acres each in northwest Collier County, which is strategically located at the intersection of Collier, Lee, and Hendry counties. Growth in Fort Myers and Collier is pushing eastward, and our Corkscrew property is well-positioned to meet anticipated regional growth demands while participating in environmental solutions. We expect the two villages will consist of approximately 4,500 homes per village and approximately 280,000 sq ft of commercial space per village, as well as civic amenities of approximately 70,000 sq ft, consisting of a village green, trails, lakes, and a preserve. Initial development is planned to begin with Corkscrew Grove East Village, and construction is expected to commence following completion of all required permits by 2028 or 2029. We have a deep history in land stewardship and have been an active partner in the Collier Rural Land Stewardship Area, or RLSA, program for over 20 years. The planning of the Corkscrew Grove villages implements the RLSA vision. The planning incorporates strategies proposed by the Florida Wildlife Corridor and the Collier RLSA and will ultimately enhance and preserve over 6,000 acres of land for wildlife corridors and regional-scale connected habitat. That development proposal demonstrates a commitment to preserve, enhance, and connect natural areas within the project and in the surrounding area. The development applications will undergo comprehensive review by local, state, and federal agencies. In anticipation of this process, a local bill was filed in February 2025 requesting approval of the Corkscrew Grove Stewardship District. The company anticipates final action on this bill by the legislature and Governor of Florida by the end of June 2025. Stewardship districts offer a single independent entity to oversee the management of an entire area to allow for a more thoughtful, coordinated, and long-term fiscal management of development and environmental conservation. The Corkscrew Grove Stewardship District is expected to allow for more effective and streamlined coordination with stakeholders, reviewing agencies, consulting teams, and future financial partners. It demonstrates Alico's commitment to good governance and offers predictability and transparency to the company's plans. For more information about the Corkscrew Grove villages, visit www.corkscrewgrovecollier.com. The Corkscrew Grove villages are a key component of our strategy to monetize four strategic assets in four separate counties, totaling approximately 5,500 acres, or about 10% of our land holdings within the next five years through higher-value development opportunities. In addition to Corkscrew, we also have Bonnet Lake in Highlands County, Saddlebag Grove in Polk County, and Plant World in Hendry County. Bonnet Lake is approximately 608 acres, and we expect to turn the current citrus use into a residential master planned community consisting of approximately 2,125 homes, 7,500 sq ft of civic space, and amenities including a lake, clubhouse, trails, and a preserve. We filed an entitlement application in December of 2024 and are beginning to secure development rights. The next opportunity is Saddlebag Grove, consisting of approximately 240 acres that is currently being used for citrus, but will be developed into a residential master planned community consisting of approximately 840 homes with 5,000 sq ft of civic space. Planned amenities there include a village green, trails, lakes, and a preserve. The initial evaluation is still pending. Lastly, we have Plant World located in Hendry County. This development will consist of approximately 83 acres that is currently being used for pasture grazing. This mixed-use community will have approximately 250 homes, 30,000 sq ft of commercial use, and 2,500 civic sq ft and amenities consisting of a village green, trails, lakes, and a preserve. The initial evaluation is still pending. Overall, Alico currently owns approximately 53,371 acres of land across eight counties of Florida, as well as approximately 48,700 acres of oil, gas, and mineral rights in the state, and we believe that our transformation strategy creates a tremendous opportunity to unlock value in these assets. We expect to maintain our commitment to the Florida agricultural industry through diversified, profitable, non-citrus operations on nearly all of our land holdings and expect to continue to entitle certain parcels of our land for commercial and residential development. We fully believe this strategic transformation will improve our ability to provide investors with a greater return on capital. This strategic transformation beyond citrus production will allow Alico to maintain our agricultural heritage while creating new opportunities for profitable growth, while also acting prudently on behalf of shareholders. Due to our strategic transformation, we are also in the process of advancing several land sales, which we currently expect to generate approximately $20 million in proceeds this fiscal year, based upon transactions that are under option agreements or have been negotiated and are expected to close soon. These anticipated proceeds, together with cash generated by the Valencia harvest, which began a few weeks ago, are expected to fund operations through fiscal 2027. Alico also has an additional $73.5 million in unused credit facilities available if needed. I've mentioned this before, but I believe it is very important to remember that we have a proven track record of monetizing certain assets. In December of 2023, we completed the sale of 17,229 acres of the Alico Ranch to the state of Florida for approximately $77.6 million in gross proceeds, which we used to repay all of our outstanding borrowings on our line of credit due to the impact of Hurricane Ian and the $19.1 million balance on our MetLife variable term rate debt, thereby strengthening our balance sheet and reducing our required principal payments through fiscal year 2029 to less than $1.5 million per year. In addition to increasing our financial flexibility, in September of 2024, we amended our credit agreement with MetLife by extending the maturity of our revolving line of credit until May 1st, 2034, which we believe demonstrates the continued support and confidence in Alico by MetLife. We believe that the revolving line of credit provides us with ample liquidity, should we need it, to manage significant weather events, as well as to ensure that we have time and capital to realize the long-term highest and best use of our real estate assets. Since our announcement in early January, management has been evaluating inquiries from developers, brokers, agents, and principals about possibly acquiring parcels of our citrus acres after this current harvest season. We believe that this announcement today will possibly increase the amount of interest in all of our properties. Alico has also been discussing lease arrangements with many agricultural operators in Florida about possible sod production, expanding sand mining activities, and potentially growing seasonal crops such as corn, sugarcane, vegetables such as green beans, and fruits such as watermelons and berries on some of the company's parcels. Details about these opportunities will be disclosed once contracts are finalized. As our cash balances rise, whether through land sales or our non-citrus agricultural activities becoming more firmly established, returning capital to investors will be discussed in additional detail. Under this new strategy, Alico will become a diversified land company, and each of its properties is expected to create profitable agricultural revenue opportunities that are not citrus-related. The company expects to recognize positive cash flow for the remainder of the current fiscal year after land sales that have already been negotiated close, severance and restructuring costs are paid, and harvesting activities conclude. Management estimates that a present value of our current land holdings could be worth approximately $650 million-$750 million, even with approximately 75% of these acres valued for agricultural usage, and assuming 10% of these acres are entitled for development within the next five years. Overall, I am very excited about the opportunity this strategic transformation presents to our long-term shareholders, and we look forward to updating you on our progress throughout this fiscal year. We will now open the line up to questions from industry analysts. Brittany. At this time, if you would like to ask a question, please press the Star and one on your telephone keypad. You may remove yourself from the queue at any time by pressing Star two. Once again, that is Star and one if you would like to ask a question. We will pause for just a moment to allow questions to queue. Once again, that is Star and one if you would like to ask a question. There are no questions in the queue. I will turn it back over to John for any additional or closing remarks. Thank you, Brittany. I just want to say thank you to everyone for joining our call today, as well as for your continued support of Alico. We look forward to speaking with you again about our second quarter results in May. Have a good day. Thank you. This does conclude today's program. Thank you for your participation. You may disconnect at any time and have a wonderful day.