Today, including the Q&A. If you have any questions, I request you to submit them at the Q&A section at the bottom of your screen. With that, I will let you take over, Ed. Excellent. Thank you. Thank you all for joining us today. We'll take a little bit of your time, but we hope we can tell you a very interesting story as part of our progression. Important disclosures at the beginning that I'm sure you're all used to. We'll be doing some forward-looking statements here and disclosing some items that may or may not change in the future. I'll leave this up for a moment, but I know this is recorded. Just keep that you have these disclosures in place. All right, onto the important table that I know that everyone wants to look at, which is the financial numbers, at least a summary of them. We just released our 10-K, which is, of course, available for you publicly. Our share price currently at $0.24, which gives a market cap around $6.8 million. Obviously, this is down from where we started, and we can talk about some of the influences that have brought it to that stage. Our FY 2025 revenue closed at $5.8 million as reported in the 10-K. $4.5 million of that was in the fourth quarter. Our third and our fourth quarter, the third quarter was about $1.2 million, really make up the bulk of the year's revenue. We're just emerging from that pre-revenue stage, having gone public in the middle of last year. Those last two quarters being our pre-revenue period. Gross margins on that revenue were about 43.7% last year. That's largely because of some of the early prototypes which aren't at our ideal cost point, and because it was almost all hardware revenue. There was very little of our ARR SaaS revenue in that number as we were getting our projects ready to deploy. Our model is such that hardware is sold transactionally first as part of the setup of the project. Our installers go and install that and get it configured, and then get it enrolled into the SaaS object. The hardware sale is the precursor to the SaaS enrollment and the recurring revenue sale which is part of what you'll see in the upcoming quarters in 2026. Adjusted EBITDA $9.1 million, and we explain that term in all of our disclosures. There are a lot of one-time charges and post-SPAC merger costs that are reflected on our balance sheet, and that's what causes the balance sheet to look the way it does, and we'll talk through that in some detail. Our revenue guidance for this upcoming year is a modest growth at $6 million-$7.5 million. Although that growth is modest, the mix is significantly different. We go from a primarily hardware sale last year to a primarily SaaS sale this year. That SaaS sale, of course, spread over a five-year contract, which is our typical contract. That's why you see somewhat more depressed revenue numbers, but the margin is significantly higher because of the SaaS contribution. We project margins in that 65% range versus the 45% range we were in last year. Our shares outstanding right now are at 27.8 million. That's the summary of where we are and understanding the financial piece. Let me explain what it is that we do. We are all about things. The world is full of things. People own things. Many types of assets, whether they're machinery, equipment, people, processes, and certainly commodities, goods, and materials are flowing through their enterprises. The challenge people have that have things is they first want visibility. Where are my things? How many things do I have? Inventory counts. Most important is the actions. How am I gonna use my things? How do I put them away? How do I put them in the right place? How do I get them on the 4:00 P.M. truck? Those actions are where we really focus. We focus on getting intelligent processes and asset intelligence enabled within the enterprise. Why is that important? That market is really big. There's a large TAM here in this market as you try and manage things, whether it's managing them with software or hardware systems. We focus very specifically, or at least our core market, is that global logistics and supply chain and software for that market. It's a multi-billion-dollar marketplace, and we're experiencing that already with the demand that we're seeing. However, our technology applies to many industries. We have certainly had customers in mining and construction. We're looking at much in entertainment, certainly in transportation. There's a lot of different aspects of this, and we started really with... As a military contractor as well, and we continue to develop that government business, although there's been a lot of turnover in that one over the last little while as administrations have changed and policies have changed there. To get even a little more hands-on for you to understand what it is we do, the core of our offering is a SaaS, a cloud-based software. That software runs in the cloud as well as on your tablet or phone as a progressive web application. That's the brain that is accumulating all the data and gathering it all up. The data then is acted on with various AI algorithms as we build through various layers within the enterprise. We'll talk about the maturity model in a minute, but not all customers are ready for a full implementation, and many get a lot of value just out of the simple asset tracking aspect. Many get value out of just doing simple workflows. As we move on to LLMs and generative AI, it's an emerging part of the marketplace as we disrupt this market. We fundamentally believe that this market of asset management is changing. The use of AI tools has become pervasive in all of our lives as consumers. These enterprises that have to manage many things, the layers, the complexity of that with different vendors, different equipment, different people, is too much for a human to manage intelligently. Quite often in my career, I've seen that we're measuring things so we can correct them the next day, not correct them in real time. We believe this disruption is happening, and we want to be a company at the forefront of that and are already demonstrating that with our implementations. The key to have that disruptive change in the marketplace is to have data collected in process in real time and then have that acted on by AI engines over the top. One of the limits to have AI implemented in this industry is that the data doesn't come fast enough and in the volume and in the in-process steps that we need. Most data collection happening in industry now is at spot points. You know, you have a barcode read, you have a portal for RFID, and that gives you a snapshot in time, but it doesn't give you the kind of data we need to execute an intelligent workflow. What you're seeing on the screen here now is that central software, which of course is where we build the AI and where we build the workflows. Around that are a lot of different data collection systems, whether they're industrial cameras, RFID readers, or our own patented mobile gateways or tags. These are ways for us to collect data in process and allow us to see where these different assets are moving, what they're doing, whether in a hospital or a warehouse, and allows us to get the intelligence that we need to change the recipe or the workflow, as we call it. Many people ask us, "Well, why are you making hardware versus just being a pure software play?" As we're on the screen, I could perhaps explain that a little bit. The software is the focus. We're primarily a software company. We have a large contingent of our company in India, although we're headquartered from a technical perspective out of just outside of Boston in Shirley, Massachusetts. The hardware, in some instances, is very critical because there isn't a good data collection system on the market today that will give us that in-process data flow. We made the step of inventing a new implementation or embodiment of this kind of collection so we could gather data more efficiently. It doesn't mean we don't use barcodes or RFID or cameras. Those are key inputs. We also have our own way of adding to that or augmenting it with our own hardware, which we make in our factory in Puerto Rico. When we talk about how our technology works, primarily when we're doing tagging type applications and not just camera barcodes, we start with an asset tag. What's shown in this picture is one that we make ourselves, and we've patented. The ZiM Bridge is a mesh-based data collector that is unique in the marketplace. We've also patented, and those together form the basis of our RF data collection. That talks up to our SaaS cloud and allows us to do the, what we call our Cortex or our AI implementation for the workflows over the top, and then we use, off-the-shelf tablets or mobility devices to, arm the operators with interaction with the system locally. That allows real-time actions to happen, allows us to do commands, down to the workers, and also take inputs from them and queries from them, through our implementation. To look at some of the things that are unique here, we built this platform of hardware, this bridge that we're talking about as a data collector. We built it as a platform that could do many different things. Three primary families to help you understand kind of the application base. We have a transit family, which can move ruggedly outdoors. You can put it on trailers. You can put it on wagons. It can go outdoors and scan things outside that are in the laydown yard or stacked up in outdoor storage. It's also great because it's mobile and it's rugged. It can go on forklifts. It can go on mobility equipment on the back of a pickup truck to do inventory sweeps and scans. It has the ability to replace batteries. It has the ability to put different connectors on it to wire it up to 24-volt DC, for instance, off of a car battery. It has four different radios in it. It has a GPS locating chip in it. It has the ability to talk on UHF at very long distances, multiple miles, and it has Bluetooth to be able to pick up Bluetooth beacons and devices, as well as our proprietary data collection system. It's a fairly unique piece of hardware, and it gives us a stickiness in our accounts. When we implement this type of data collection, there really aren't any other people that can follow us down this path efficiently. We talk about AI because really when you think about Dot AI, you can think about it in the two sides. It's about us collecting the dots, you know, collecting that real-time data we talked about, and then mounting the AI workflows over top of it. AI is a crucial part of what we see this disruption to be. It starts with in-process data collection so we can get enough data to generate the view of where the workflow goes forward, and then we add a rules engine on top of that. The rules engine allows the enterprise to configure our software unique to their specific needs. So the rules can say if this, then that. You can add it in with a language model to say, "Here's how I'd wanna measure things or look at things, and here's what I want to have happen if this condition doesn't occur." That rules engine is a basic way to configure it. Remember, our philosophy is we only build one piece of software. We're a SaaS company. That means customizations happen not in code, but in configuration, and the rules engine is the keyway that that happens. It gives a lot of business intelligence for the customer. Once we've got the rules engine implemented, we put machine learning over top of the rules engine, and we can learn based on the conditions being flagged and the alerts that are being triggered, how to predict those and eventually how to prevent those. We use a supervised learning module so we can teach the AI algorithm what a bad condition, a good condition is, and with enough data over time, we can make that a predictive rules engine. Then we move into more advanced AI modeling for predicting their usages, their ability to move these assets around, and to manage their vendors. This is not like consumer AI that you're used to. It's not ChatGPT, but it certainly is an algorithmic-based way of tackling the very significant problems in asset intelligence and asset management. We have some competitors, like everyone does, and so just to flag you to some of those, the first three on this list, Zebra and Samsara and HID, are three of the bigger gorillas in the marketplace. They each come in from a different direction. You know, Zebra starting as a printer company and still selling a tremendous amount of hardware. Samsara being an over-the-road tracking company, primarily, they're moving into this space. HID, that's primarily an access control company moving into this space. While all are moving our direction, we have significant advantages over the large players as well as some of the small players that are chasing that going forward, and we think we have a significant competitive advantage in the marketplace. A comparable you could look at potentially would be this company, Energous. We've recently announced and just did another webinar with them again after our recent trade show presentation, our partnership with a company called Wiliot, and this is a company that is a partner with them as well. Wiliot's been very successful in landing some large contracts. They've announced some of the fundraising they've done with Amazon, and certainly their large contract with Walmart is publicly announced. Energous supplies them now. We are featured as a partner as we work with them. Since they are also public, and they have a very similar revenue profile, they closed last year at $5.6 million, or at least the guidance is such, and we were at $5.8 million, you can see a very favorable comparison in terms of the approach that we use and the partnering we have. Of course, there's a big difference here in the market cap and the share price. Part of that is because of their cash position. Again, we mentioned the balance sheet a couple of times. There's also, I think, a very defendable position to take that we're very undervalued, and a big part of our issue is not telling our story effectively. I share this as comparable, so you can see as they've been telling their story a little bit better than we have, the room we have to move up that chain and to realize a better market cap position. Again, our differentiation chart to show how we're positioned against those competitors we showed previously, shows you where we think we are in terms of innovation and our approach, which is quite different from most of the competitors that are on this screen. I'd like to talk a little bit about one of the companies that we have publicly disclosed. We did an 8-K disclosure a little while ago about a contract we signed with Würth Industry. Würth is a large multinational company based out of Europe. We signed a deal with them in November of 2024 at the beginning of our evolution of this technology before we even went public to integrate and embed this technology into their operations and make it a key part of their function. They committed as part of that agreement to spend $175 million over the next five years, and they included a $2 million cash payment at the beginning for this position and this exclusivity within the fastener market that they operate in. There were 14 companies that we named as part of that exclusivity arrangement. To understand Würth and that announcement, you can go back and read that 8-K, of course, which details a little bit more than what we've shared here. The key is that in signing that contract and getting started with our commercialization for them, there was some adaptation and customization that had to be done to get it ready. Our first program order began in last year in the third quarter. You can see the revenue we had in 2025 really aligns with the kickoff of this major program. I wanna share some examples of how that buildup looks. When you look at Würth, they have a large customer footprint. They're supplying primarily fasteners, nuts, bolts, fasteners into manufacturing organizations as well as other, you know, mining, construction, different enterprises. They have about 44,000 customers, and of those, we worked together to identify 200 early adopters as an example. Again, I'll abstract a little bit here, but it shows you a little bit of where we're working. If you take a typical embodiment here with them, that would have about three locations per adopter, which gives you 600 locations in our target group, and this is the group we're working towards. In each location, you see the racks that are down here. These red racks with these bins would be a typical install, about 1,000 racks in each location. Each of those racks would have three of these bridges that we talked about, these hardware components. Each bin, those black boxes, would have a tag on them. In the 1,000 racks, you'd have those three bridges plus about 40 tags per rack. We sell those bridges at around $185. We sell the tags at about $3.20. Then we also enroll them in our SaaS software for a monthly charge in each case. When you roll that all together, you get an installed cost of about $683,000 per location. That gives you an idea of deal size. As we set up a location, you're in that $500,000-$600,000 range of sale. Then when you take the hardware cost over all the locations, you get up to a fairly good number of $400 million of potential market as we get this full rollout done as one-time hardware sale. You add the SaaS subscription on top for the enrollments that we just showed, and that adds another $142 million in ARR that would be coming from those locations as well. Using this as an example, and again, not that these are our exact numbers, but they're indicative of our relationship. You understand the potential of how this lighthouse account can grow for us and contribute revenue both on the hardware sale and on the ARR sale, potentially as we move forward. We are a distribution model, a channel partner model, and so we don't sell direct. We sell through distribution. We use channel partners to go at the end user, a series of VARs and a series of distribution points. This just shows a little bit of how the flow goes for us and how we sell subscriptions. We sell them on one, three, and five-year deals, most commonly five-year deals for our industrial partners. To get started, there are some shorter-term deals as we do proof of value with different customers. The channel program allows us to abstract ourselves from all the support needs and the onsite needs. We can scale the business faster without putting direct resources in. It also insulates us a little bit from some of the liability pieces that can be potential in the marketplace. Most importantly, these channel partners add expertise in various verticals. Our technology can be taken to many different verticals at the same time without us distracting our own application engineers to be experts in all those industries. To understand that market, you have to understand there's a maturity model here for customers as well. We've certainly encountered this as we've begun selling and moving from our pre-revenue state. We have some customers that are still on paper and clipboards. I know it's hard to believe that, but it's true in the marketplace. Others that have initial barcoding type systems, some that have very advanced RFID systems or using active RFID systems to do their data collection. Very few that have implemented any kind of AI. Many are still very basic data collection and managing things manually with different materials planners or asset management systems that they put in place with different vendors. We meet our customers where they are, and we kind of identify that early on in our sales cycle, what maturity level they're at. We sell projects based on base functionality to get them started, and we move them through a series of maturity steps as we help the organization adopt the technology. It's very difficult for any organization that's significant and has process in place to go from zero to 50 all in one step. Quite often we map out a roadmap with our customers of adoption, where they move through different elements of the functionality, and we expand. Our strategy very much is a land and expand strategy. We start by solving a simple local problem first, then we solve multiple local problems, then we solve those on multiple sites, and then we go to multiple geographies around the world with these customers. We very much target large multi-site customers so that we can leverage the initial relationship cost of building up and acquiring the subscriber and then take that across, you know, land and expand style expansion. Another advantage we have that I'd like to stress is the competitive installation time. Some of our competitors are marketing very heavy infrastructure, a lot of upfront capital expense. That causes both a large capital improvement cycle but also involves a very large installation time, where some of these projects take multiple years to implement and validate and tie into the back-end systems. We're much faster than that because we have such minimal infrastructure and because we have a very simple cloud-based workflow management system. That allows us to implement in one to three months what our competitors often take one to three years to do. We've certainly seen that in some of our implementation cycles already. I believe that's part of the overall disruption for this marketplace. We are moving real-time data collection and workflow management from a massive capital project of many years and layers of software to a very simple AI-driven implementation with some IoT principles that are self-recognizing and simple to install. That will change the whole market. A brief summary of where we are. We just gave guidance on our 2026 year. Again, as I mentioned, it's somewhat muted guidance with a modest bookings number and a modest revenue number of $7.5 million or up to $7.5 million. The difference of course is the mix, where our ARR becomes the majority of the revenue, and that means you're only seeing a small slice of the overall contract value that the part that's recognized in period. With much of this happening in the third and fourth quarter of this year, it means that we'll have a fairly muted, you know, revenue outlook. Margins will of course improve because of the heavier mix on the software side. This gives you a summary of what our outlook looks like from our 25 numbers of $5.8 million and the 46% gross margins. Lastly, I just wanna talk a little about our team. It's important you know who you're dealing with and what our team looks like. I'm very proud of the group we've assembled. You've met me as I've done all the talking here. I've had a long history with companies both large and small. I started this company with my partner founders here, coming directly out of Panasonic, managing one of their IoT groups. I've been in large companies like Molex, and I've also done some smaller companies that have exited successfully. We have raised quite a bit of money going that way. Delores Rochester, our CRO, comes to us from Oracle as a VP of sales there, and she's doing a great job driving our front end. Vijay Nambiar, our CTO, coming to us from Verizon, having done a lot of the 5G developments and some of the routers many of you are probably using were developed by Vijay and his team. Charlie, who's on the call here, who I've hardly let him talk, and I probably should have had him talk a little more, has done a great job raising our seed capital and taking us through this initial IPO through SPAC. A former Air Force veteran and overall fantastic executive to work with. Dr. Ansgar Tiedt out of Germany, he's our data scientist, has a Ph.D. in that discipline and very familiar with AI, especially in logistics software. He drives our product strategy and our customer experience functions and customer support functions. With that, I think we're just about right on time to conclude and have a question and answer period. Thank you so much for the presentation, Ed. I would like to remind everybody in the audience if you have any questions, you can submit them at the Q&A section at the bottom of your screen. Ed, can you tell us a little bit about the verticals or geographies that are most responsive to the solutions today? Sure. We're focused mostly on the U.S. right now. That's where we're based, and so we've developed our initial footprint there. We also have a team now over in India. In addition to our development team, our sales team has been formed there and our support team, and we have some very interesting projects coming out of the APAC regions as well. Because of our Würth relationship, they're pulling us into the European region, so I would characterize this as we're emerging from a pre-revenue stage. The bulk of our 2026 will be in the U.S., but the beginnings of our global footprint are already forming, and we have some projects already starting in the other regions as well. Right. Are there any partnerships or creating channels or integrations that you believe will accelerate growth faster and outside U.S. as well? Like, I understand 2026 is going to be U.S., but beyond that. Yes, absolutely. Actually, I'll let Charlie speak to that since I have to let him get a word in edgewise here. Do you wanna talk a little about our Wiliot partnership, Charlie, and where that might lead us? Sure. Yeah, happy to. Yeah, as we're looking at different markets, as Ed mentioned, with Würth, especially, and I mean, they have, you know, we say Würth, but it's really Würth as a distributor, and they have 44,000 customers that are all around the world. We have a very specific kind of rollout from the operations and manufacturing side that we're contemplating starting first of course with North America, as Ed mentioned, and then moving into the India market. We're kind of being pulled into that market now, which is great as we have a presence there, a footprint with a lot of developers there. Then probably Europe next. I would see, you know, expansion into North America as the primary driver, and then India and Europe as a close second and third. Würth gives us a lot of manufacturing and logistics background. That's really where they flourish. I was mentioning the Wiliot relationship that we announced. They're heavy into the retail side. Can you explain the impact they might have strategically on our path forward and our expansion? Sure. Absolutely. Wiliot is a fantastic technology. It's Ambient IoT has been their focus, where it's sort of that next evolution of RFID into a new generation of product. They have a chip, and they have one or two SKUs that go onto paper and cardboard. But what's interesting about what we offer is the industrial focus, the ability to go on metal, the ability to expand sort of those capability sets and what we do with our software and with our bridges, that I think is really interesting. They're seeing a lot of growth into, you know, Amazon, into Walmart, into a bunch of these different areas, and I think they're excited to work with us in some of the webinars we're doing and some of the strategic partnerships that we've announced, because we do expand that capability set. Beyond the logistics side from Würth and that industrial side, there's a lot of room for growth into the retail as well. Mm-hmm. Right. Can you discuss, like, what the length of typical sales cycle is and how that has evolved over time, or if it has? Yeah, certainly. Typically when we were working directly at nurturing our leads and building up demand, we were a nine to 12-month sales cycle to try and drive those relationships. As we've added channel partners, some of our VARs that already have existing relationships, projects in flight, our sales cycle is compressing down to three to four months in many cases for the initial installs and moving them forward. Our sales cycle's certainly evolving, and it depends a little bit on the type of deal, but our channel-based program has pulled that in, I would say cut our time in half from where we were before. Okay. What are the typical catalysts for client demand? The catalyst for client demand, frankly, it's been amazing. I've run a number of startups and I haven't seen so much success in initial adoption. There's a fear in the marketplace that people are already behind, that they don't have the technology they should, that they should be adopting AI, that they should have better data collection. They're seeing the success that, you know, we mentioned Amazon and Walmart. In our personal lives we see them being able to track packages to your door and tell you when it's going to come. When I meet with CIOs or CEOs of our customers, the overwhelming response I get is, "We're already behind. We need a technology partner like you to bring us up to speed." I think that's the biggest catalyst. Now, you get to the nuts and bolts of money savings and compliance and things that are important, but I would say the overall sentiment in the marketplace is that there's a recognition that this is needed technology, and that's why I think it's gonna be very disruptive. I think the whole industry will change in a very short period of time and adopt this kind of technology, from us as well as a few other players. Right. Are there any client verticals which you view are more likely to lead growth going forward? Yeah. I think our core vertical of manufacturing and logistics will be the center of our growth, for sure. Now, we've got some very interesting healthcare projects starting. We certainly have some of the retail things we talked about with Wiliot. For the foreseeable next short term, I think manufacturing and logistics will be the center of what we do. There we also have an advantage that we're U.S.-made and a U.S. company, so some of the tariff policy of the current administration favors us as it comes our way, and I think that'll also be an accelerator for us as they adopt us. Got it. This one is probably for Charlie a little bit more, but can you talk a little bit about your cash burn rate and what level of quarterly revenue do you need to be profitable? Just some insights on the financials like that. Yeah, sure. No problem. We're about $500,000 a month or $1.5 million quarterly. If you look at our current margin mix, as that increases, as we go from 45%-65% or so, let's say we're around 50%, you need about $3 million per quarter, I think, to break even. I think that's attainable. We're not quite there yet, but I think we will get there. Okay. How much of your 2026 revenue guidance is attributable to the Würth partnership? How quickly do you believe it will scale? That's the multimillion-dollar question. We could greatly exceed this revenue guidance if Würth move faster. We're trying to be more conservative about how it might go. A little bit more than half of that revenue guidance comes from Würth-based customers. The rest is coming from our other pipeline as we develop other customers. Answering both questions. Okay. I'd just like to end by asking if you can sum up the value proposition for investors who might be looking in the AI space? Yeah. I would sum it up by saying this is an exciting space that's definitely gonna be adopted. As I've mentioned in my meetings, I've run many startups. I've never seen one that has such a fertile bed of interest where people know they need the technology, and they see immediate value. I mean, the proof of values we do have been fantastic. The fact that we're an AI startup that also has a hardware basis makes us stickier and more sustaining in terms of revenue, and it's real tangible revenue that you can see in the ongoing piece. My summary would be that now's the chance to get on board with us as we emerge from a pre-revenue state, as our financials start to look better and better, and we become a dominant force in the disruption that's going to happen here in this industry. And- If I can add on one statement to that, if you look at what Wiliot's doing with, you know, the large Walmart deal and the big investment from Amazon, two of the three largest companies in the world, right, have said Ambient IoT is the future. We're the only company in the world that is doing industrial Ambient IoT. Mm-hmm. Right. Thank you so much. It is certainly an exciting market and an exciting time for your company. I would like, really like to thank you for sharing your story with us, and thank everybody in the audience for spending time with us today and being here. Thank you so much. Thank you.