Good morning, and Welcome to The FG Group Holdings Earnings Conference Call for The Second Quarter 2023. At this time, all participants have been placed on a listen-only mode, and we will open the floor for your questions and comments after the presentation. If you have any questions or comments during the presentation, you may press star one on your phone to enter the question queue at any time. Please note, this conference is being recorded. I will now turn the conference over to your host, John Nesbett of IMS Investor Relations. John, you may begin. Thank you. Good morning, and Welcome to FG Group Holdings Earnings Conference Call for The Quarter Ended June 30, 2023. On the call today are Mark Roberson, Chief Executive Officer; Todd Major, Chief Financial Officer; and Kyle Cerminara, Chairman of the Board of Directors. As a reminder, there's a slide presentation accompanying today's call, which can be accessed at the FG Group Holdings website. Before we begin, I would like to remind everyone that some statements made on this call will be forward-looking in nature. These statements are based on management's current view and expectations as of today, and the company is under no obligation and expressly disclaims any obligation to update forward-looking statements, except as required by law. These statements are also subject to risks and uncertainties and may cause actual results to differ materially from those described in today's call. Risks and uncertainties are also described in the company's SEC filings. Today's presentation discussion also contain references to non-GAAP financial measures. The definition of non-GAAP terms and reconciliations to GAAP measures are available in the investor relations section of the website. Our non-GAAP measures may not be comparable to those used by other companies, and we encourage you to review and understand all our financial reporting before making any investment decisions. At this time, I'll turn the call over to Mark Roberson. Go ahead, Mark. Thanks, John. Good morning, and thank you for joining the call today. Overall, this is a very good quarter for FGH. A major accomplishment was the closing of the separation and IPO at Strong Global Entertainment, which is now operating as a standalone entity, and its common shares are now trading under the symbol SGE. Following that transaction, our core holdings at FGH now include a controlling stake in Strong, as well as non-control stakes in GreenFirst Forest Products, FG Financial, and Firefly Systems. We also have commercial real estate holdings in Georgia through our Digital Ignition operation, and we retained the screen manufacturing facility in Québec. Following the IPO, FGH continues to hold approximately 84% ownership in Strong Global, and we will continue to report SG on a consolidated basis in our financial results. Overall, on a consolidated basis, the financial results for the quarter reflect the strong performance of Strong. Consolidated revenues doubled and adjusted EBITDA increased from a loss of $370,000 last year to $2.4 million in the current quarter. Starting with an overview of Strong Global Entertainment on slides five through seven, we provided quite a bit of detail on Strong's performance yesterday after the market closed. I'd encourage you to review their results separately and listen to the call. To recap, revenues grew as we continued to see increased demand from cinema exhibitors for screens and services. We're also continuing to add new customer accounts and new services, increasing our market share. As a result, Screen Systems were up 24%, while Technical Service revenues grew over 40%. We had our first initial sale of IP in our Strong Studios group this quarter, which contributed over $6 million to consolidated revenue. There are a few key drivers to growth. One, the continued resurgence in the cinema industry and the rebound in the box office. Cinemark, IMAX, and AMC all reported strong quarterly profits over the past week or so. AMC reported its first quarterly profit in several years. IMAX reported a 30% increase in revenue and recently had its fourth-best box office weekend ever. Cinemark delivered the second highest EBITDA quarter in its history. Two, there are increasing investments by exhibitors in premium auditoriums, which includes the laser upgrades, which are just starting to roll out through the industry. Auditoriums with premium large format screens and premium audio, such as IMAX, for example, are driving an increasingly large share of the box office. AMC, Cinemark, Cineplex, and Cinépolis are among the larger exhibitors who have all publicly announced their plans to upgrade to laser. We saw upgrades really just getting started in the second half of 2022 with just a few exhibitors, and we believe those activities will increase in the second half of this year and continue on into next year. Several exhibitors, including Cinemark and IMAX, for example, noted in their earnings calls this week that they expect capital spending and upgrades to be back-end loaded this year, which is consistent with our expectations for the second half demand, and we're staffing up to meet that demand. three. Our position in the industry, our strong exclusive relationships and increasing market share and geographic reach. We have a leading position in North America in the cinema industry. Over the past couple of years, we've further strengthened and formalized those relationships, and we've increased our sales efforts. We supply all of IMAX's screens on a worldwide basis. We're the exclusive screen supplier for AMC, Cinemark, and Marcus, and we're the preferred supplier to many other exhibitors. We also announced our first major European customer win this quarter. As the rollout of laser and other upgrades accelerate, we believe we're well positioned. Fourth, the expansion and diversification of our revenue base, which includes the addition of Strong Studios, theme parks, and immersive.... We've expanded our revenue base, expanding into theme parks and immersive attractions. We've been expanding our service offerings to be more of a one-stop shop for the exhibitors. We've been expanding internationally, as well as we launched Strong Studios last year, which also realized its first meaningful revenue transaction this quarter with a portion of the IP for Safehaven. Moving on to our non-consolidated holdings on slides nine through 11. We have three equity positions in three other operating companies, GreenFirst, FG Financial, and Firefly. We also have commercial real estate holdings, which includes a 44,000 sq ft building and 11 acres in Atlanta, which, if you recall, we retained from the sale of Convergent a couple of years ago. As part of the Strong Entertainment spin out, we retained ownership of the 80,000 sq ft screen facility in Québec, which is being leased to SGE on a long-term operating lease. GreenFirst recently announced several transactions to monetize our non-forest assets with the sale of private forest land for $49 million. That transaction was followed by the sale of two sawmills in Québec for $90 million. Those deals further strengthened GreenFirst's balance sheet, bringing down the average cost per board foot of operations and allows their team to focus their attention and resources on the more valuable and more efficient Ontario mill operations. FG Financial continues to grow its reinsurance and asset management business. FGF had a really nice first quarter with its growing reinsurance business, reporting over $1 million in underwriting profits. On the merchant banking side, FG recently launched Craveworthy and FG Communities. Craveworthy is a fast-growing restaurant brand platform led by the former CEO of Jimmy John's. FG Communities is a self-managed real estate company that's acquiring manufactured housing communities. Also, in the merchant banking side, their SPAC, FG Merger, announced a merger agreement with iCoreConnect, which is a cloud-based SaaS company focused on the medical and dental industries. FG Acquisition Corp recently announced its combination with ThinkMarkets, which is an online brokerage with an established global partnerships and a scalable business model. Turning to Firefly. Firefly continues to grow their business as a leading provider of mobility-based digital out-of-home media solutions. Digital out-of-home media is an attractive market. It's projected to continue to grow at about 11%, you know, over the next 10 years. Firefly continues to execute on its plans. It's growing, and it's been expanding its international reach recently into markets like the U.K., Canada, and Abu Dhabi. Overall, we're really pleased to see the accelerating progress in both our Strong Entertainment segment, which is now operating as a standalone public company, as well as our equity holdings as they execute on their strategic plans. Todd, would you like to walk us through the financials? Sure. Thanks, Mark, and good morning, everyone. I'll start on slide 13, and we'll run through a quick overview of the financial results for the quarter. As Mark mentioned, as a result of our majority ownership in Strong Global Entertainment, we are consolidating SGE's results into our financials. Since SGE is by far the largest part of our operating business, my prepared remarks today will include a good amount of discussion on the SGE results that were released yesterday afternoon. Consolidated revenue was up nearly 100% from the prior year, with several key drivers. The first is the revenue recognition resulting from the sale of a portion of the IP in Safehaven. Second, there were meaningful increases in revenue across nearly all of our product and service offerings, with screen sales, digital equipment, and installation services leading the way. Screen sales were up 24% over the prior year, digital equipment was up 32%, and installation revenue increased more than 120%. Most recent quarter turned into sixth consecutive quarter, with year-over-year increases in installation revenue. That is due in large part to the expansion of our nationwide team of technicians to include a dedicated installation team. Not only do we expect the top-line revenue number to improve as a result of the additional service offerings, we're also expecting margins on these services to improve as we move away from outsourcing the work. Consolidated operating income improved even after the recognition of some non-recurring transaction-related expenses. Excluding these one-time costs, operating for the quarter would have been approximately $350,000, a significant improvement from last year's operating loss of $900,000. Flipping over to the balance sheet, we ended the quarter with just under $5 million in cash and continued to maintain adequate liquidity. Now that the entity that owns and controls the Safehaven production is consolidated as part of SGE's results, those assets and liabilities are also now part of our consolidated balance sheet. We recorded an intangible asset that represents the net cost of production of Safehaven that will be amortized as the series is monetized. In addition, the production was financed, so we have some additional non-recourse debt to the balance sheet. However, subsequent to June thirtieth, the debt balance was fully repaid via receipt of the minimum guarantee and the tax credits received for shooting the series in Canada. That concludes the financial overview for the quarter. I'll now turn the call over to Kyle Cerminara. Go ahead, Kyle. Thank you, Todd and Mark. During the first half of the year, there's been significant progress made across our businesses. As the largest shareholder, I'm confident that we hold some extraordinary businesses that will be much more valuable over time. Strong Global Entertainment completed its IPO and last evening reported a very strong quarter. Their business is benefiting from a market-leading position, expansion into new verticals, and also the initial success of the Strong Studios business. As Mark reviewed, the other businesses are generally executing across their plans. ...GreenFirst is focused on optimizing their core assets in Ontario, they've strengthened their balance sheet. The drop in duty rates should positively impact profitability. We view GreenFirst as a very valuable asset and are confident that over time, this value will be realized either organically or via consolidation. With FG Financial, this business has come a long way in a short period of time since we essentially restarted the business a few years ago. The reinsurance business is methodically growing. I'm excited about the business on the merchant banking side. With our SPACs, we're innovating with new structures that are more attractive to investors and issuers alike. We also are excited about the Craveworthy business, which has a proven CEO and some attractive, scalable restaurant brands. Finally, Firefly continues to grow and build a powerful economic model for the outdoor advertising space. I'm sure at this point, many of you have seen their product on the roof of cabs in major metro areas such as New York. My focus is not only to build value, but to build sustained long-term value for shareholders. We'll continue to work hard and with urgency for shareholders. I look forward to taking any questions you may have. Certainly. Everyone, at this time, we'll be conducting a question and answer session. If you have any questions or comments, please press star one on your phone at this time. We do ask that while posing your question, please pick up your handset if you're listening on speakerphone to provide optimum sound quality. Once again, if you have any questions or comments, please press star one on your phone. Please hold while we poll for questions. Your first question is coming from Jack Snyder from Greyfi nch Capital. Your line is live. Hey, guys. Appreciate you taking the question. Good morning. Just have a quick question. How should we think about the anticipated length of the laser upgrade cycle? Oh, yeah, good question. We think when you look at the laser upgrades, you know, we're really pretty early in the early innings, you know, maybe in the first inning, you know, if you're analogizing the timeline here. Really, the current laser installations are being driven by just a couple of large exhibitors who are driving, you know, the initial rollouts and upgrades in major markets. The major exhibitors have a long way to go in terms of upgrading their circuits, and we're starting to see the regional exhibitors, you know, just now starting to formalize and announce their plans with regards to their laser upgrade plans. This, this is a cycle that's just starting. It's gonna be a multiyear upgrade cycle through the industry. If you listen to, you know, some of the earnings calls from AMC and Cinemark and some of the others, they were pretty explicit about the benefits of, you know, premium auditoriums, the premium audio and visual experience, and their desires to continue to invest, you know, even more heavily in upgrading their auditoriums over the next several years. We're, we're pretty early in the phase right now. Got it. Got it. Great. I think that's all from me. Thanks, guys. Thank you. Thank you. Once again, everyone, if you have any questions or comments, please press star, then one on your phone. Your next question is coming from Brett Reiss, from Janney Montgomery Scott. Your line is live. Morning, Brett. Good morning. Can you guys hear me? Yes. Yes, loud and clear. Great, great, great. I'm not in the office. With the market share that Strong Entertainment has, do you have pricing power, you know, versus your customer base, or will you need to be even more of a consolidator to attain pricing power, you know, with some of the secular headwinds your customer base is facing longer term? Yeah, it's good, good question, Brett. You know, with regards to, to pricing power, you know, it varies in different markets and obviously, you know, with products and different products and different customers. You know, overall, within North America, we have a pretty dominant market share, but it's not that we're not without competition. We certainly don't have, you know, the power to, you know, price at whatever levels we'd like. You know, it has to be competitive, it has to make sense. We do have a premier product. You know, we have a premium product, and, you know, I think we're able to charge for that. In some of the service areas, you know, we have, you know, in recent periods, you know, been passing along some, some cost increases that we're seeing on the inflationary side. Yes, there's definitely been some, some adjustments to pricing. Great. On Firefly, assuming in the future, at some point, you know, the IPO markets open up a little bit more. Yep. Is there any, you know, not, not to the calendar date, but is there any timetable on a potential IPO on, on Firefly, that you can share with us? Yeah, I mean, I don't think there's a specific, you know, target date or, you know, quarterly timetable that I could lay out for you that would, would, would, you know, would be appropriate. You know, it certainly is within their plans. They're continuing to execute, in terms of their growth. You know, they're continuing to expand. You know, they've raised, you know, additional capital, a couple of rounds, you know, since our investment in Firefly. You know, we like what they're doing. They're continuing to execute, continuing to grow, and when the time is right, you know, I'm sure that they will be ready to go. Great. That's all for me, and, you know, very nice quarter. Thank you, Brett. Really appreciate it. Yep. Thank you. That concludes our Q&A session. I'll now hand the conference back to management for closing remarks. Please go ahead. Well, thank you so much for joining the call today. You know, overall, a good quarter. We're excited about a lot of the things that are going on at Strong Entertainment, as well as the other holdings in the portfolio. You know, if you have additional questions or weren't able to join the call today, you know, feel free to reach out to us through the IR contact information, and we'd be happy to address any additional questions. Thank you. Thank you, everyone. This concludes today's event. You may disconnect at this time and have a wonderful day. Thank you for your participation.