Good morning, ladies and gentlemen, and welcome to the Digital Ally Inc Q1 2023 operating results conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. Instructions will be provided at that time for you to queue up for a question. If anyone has any difficulties during the conference, please press star zero for operator assistance at any time. This conference call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We may use words and other expressions that are predictions of, or indicate future events and trends and that do not relate to historical matters, rather represent forward-looking statements. These forward-looking statements are based largely on our expectations or forecasts of future events, can be affected by inaccurate assumptions and are subject to various business risks and known and unknowns uncertainties, a number of which are beyond our control. Therefore, actual results could differ materially from the forward-looking statements expressed in this conference call, and readers are cautioned not to place undue reliance on such forward-looking statements. We generally do not publicly update or revise any forward-looking statements expressed in this conference call, whether as a result of new information, future events, or otherwise. There can be no assurance that the forward-looking statements contained in this document will in fact transpire or prove to be accurate. I would like to remind everyone that this call is being recorded on May 16th, 2023. I'll now turn the conference over to Stan Ross. Please go ahead. Thank you everybody for joining us today. I have with me Brody Green, who is the company's President. He will be going over some of the numbers. He's also is the Acting CFO as of now, as our dear friend, after almost 17 years, Tom Heckman, has decided to retire and take a little slower pace nowadays. Anyways, with me is Brody. Brody will be covering the numbers, going into quite a bit of detail there, and then letting you obviously dig a little bit more into this in regards to the Q&A. I'm excited to talk to you a little bit about where we're at in regards to the relationship of our strategic opportunities that are out there. As we've talked and have mentioned and went public with in regards to a possible spin out or another avenue that would help define, I guess, some of the companies that are under the Digital Ally umbrella and hopefully give a lot more clarity to the excitement and valuations within those, including a recent event that we had that'll show up in the second quarter's numbers. We just finished with our very first Kustom 440 concert that was put together and also utilized our ticketing platform as well. I'll cover that in a little more detail after Brody goes through the numbers and we'll go from there. Anyways, Brody? Thanks, Stan, like, happy to talk to everybody again. I know it's only been about 45 days since our last call. Looking through the balance sheet again, you can see there's not many dramatic changes as our total assets, you know, are at $ 55.5 million relative to $56.7 million at year-end. Similarly with total liabilities, they're pretty constant with year-end as well. They're at $25 million. Our Total Stockholder Equity remains relatively healthy at $30 million that are above. In the equity section, obviously, not much has transpired during Q1. A couple issuances, we also did our reverse stock split, which I'll get into here shortly. On the income statement side, you know, revenues were still higher than... I mean, with all these acquisitions, you can see our revenues continue to stay fairly high compared to where we were a couple of years ago. I know we're down relative to Q1 2022. Still $7.7 million in total revenue for Q1 2023. Gross profits, 20% gross profit, which is much better than we looked at in Q4. You know, the changes we talked about during our last call have obviously been effective and will continue to make sure those are staying in effect and even more so enhancing our gross profit as we move along here throughout 2023. You can see an operating loss of $6.2 million. That's an, I mean, an improvement over 2022. Obviously not where we wanna be, so we're gonna continue to work on that and make changes as fast as we can. Stock or, yeah, stockholders' equity side, we're sitting at 2.7 million shares outstanding. We have 200,000 authorized, so plenty of room there. As I mentioned, we did the reverse stock split back on February 6th. We did a 20:1 split, as we talked about at the year-end call. Very few options and warrants left out there right now. At quarter end, there was only 53,000 options outstanding and 39,000 warrants. Cleaning all those up, and they'll run their course here shortly. They'll all go away at the end of June or July on the warrant side. We're excited to see our deferred revenue number as we continue to talk about. It just continues to grow. I mean, at Q1 2022, that number was sitting at $5 million, and now we're looking at $9 million at Q1 2023. nearly doubled. We're excited to have that number out there and just, you know, it raises our floor every quarter for what our sales number will be. It's nice to have that number continue to grow with these subscriptions we've put in place. A majority of those are five-year subscriptions. I think our total subscriptions are well above 200,000 subscriptions now, and that's departments... Or sorry, 200 subscriptions, so that's probably about 250 at this point. Those are departments, those aren't units. Those subscriptions can range from one to several hundred in-car body-worn cameras. Lot of deferred revenue sitting out there, which is nice, and we love seeing that. On the segment side, you know, Video Solutions did about $1.9 million in revenue. Medical billing revenue cycle management did $1.8 million, and the entertainment side did $4 million. We're excited to see what happens in Q2 with all of those, especially on the entertainment side, as Stan mentioned the concert concluding this past weekend, which was a success, and I'll let him go in more detail on that. Depreciation amortization for the quarter was about $543,000. So those are non-cash items that flow through the P&L. You know, we can calculate EBITDA at another time. One last comment I have, and then I'll turn it back over to Stan. A subsequent event was the convertible note we issued and filed an 8-K on. It was for $3 million, a convertible note, at $5.50. For more detail that's in the 10-Q as well as an 8-K filed at that issuance. Feel free to look into that. Just wanted to make you guys all aware of it as we have already. Outside of that, Stan, turn it back over to you. Yes. Yeah. Thanks, Brody. As I said, you know, the 10-Q's filed, all the details out there. I think really what everyone's been curious about, and a lot of the emails, a lot of the calls I get is, you know, sort of the process that we've been going through since we made the announcement that we were looking at spinning off the entertainment division. Of course, the entertainment division will include the ticketing company, the production company, and the aviation company. That is still in the process. Obviously, we needed to have the year-end and the quarterly financials done. With that being completed, we'll do a little bit of fine-tuning in regards to the 2021 audited numbers needed for TicketSmarter since we acquired it in September of 2021. We need to make sure and just button up the first eight months of 2021. We're at a point where we're in a position to go ahead and act upon whatever makes the most sense as far as a strategic move, whether it be a spin-off or some other avenues that may present themselves to us. Excited to be where we're at now. Excited to hopefully be in a position, you know, in the coming days to define what direction we are gonna go into. Even more important, you know, from that perspective, is the launch that Kustom Entertainment has had. Most recently, we did a concert here in our backyard here in Kansas City, weather could not have been more of a interest in regards to how this was gonna play out, because we seemed to have continued forecast of rain in the future. Rain. It's gonna rain on our particular festival day. As it got closer, literally within, you know, less than 48 hours, it had cleared up and the, you know, the weather forecast was very favorable for this festival. Matter of fact, on the last day, there was almost 500 tickets. Well over almost 10% of those that attended, showed up and bought at the door. We did hit a number close to 7,500 tickets sold, which was. I think our bogey was somewhere between 6,000 and 8,000, so we're on the high side of that. Very pleased with that. The food and beverage, as we try to be able to be in a position to control a lot of that, we believe the numbers are gonna come in above what expectations were on that as well. All in all, just a very, very successful event. You can get on the website, it's countryrootsfest.com, and just maybe see a little bit of how things did play out, whether it be on a Facebook or Instagram. Just a tremendous amount of people showed up. The acts that we had from start to finish were fantastic. A very good atmosphere as far as the crowd, and we look forward to doing a lot more of these. That's the whole thing I was trying to tell you and explain a little bit about our ticketing platform and the production platform, is that we actually can sit there and throw fire on our, on our own, you know, gas on our own fire, by doing these type of festivals and concerts that helps the ticketing company and obviously with us having the production side of it, we reap the benefits from that as well. Again, as we mentioned last year, you know, TicketSmarter, you know, did, you know, $21 million roughly. If we're sitting there and we're continuing to do, let's say, you know, half a dozen more concerts this year, with those kind of revenues, with those additional ticketing revenue that it'll generate, you're gonna see, you know, that's that particular entity, and when I say that, meaning Kustom Entertainment, go from, you know, $21 million to possibly close to $30 million, so by just, you know, doing this ourselves. Very excited, very pleased and you know, impressed with, you know, our partners on this deal. The sponsors that we had were very recognizable names, and we look forward to being able to announce, quite a few up-and-coming events and hopefully maybe one of them is in your all's backyard, and you can actually come out and see it firsthand. Been exciting on that side of things. Continue to see very nice opportunities in regards to the Video Solutions division. Probably the biggest of all would be on the commercial side of our products. As all of us know, you know, being around over 17 years, we have a very good foothold when it comes to the law enforcement side of things. Now we seem to be getting very well established and very well-received feedback in regards to the new EVO commercial system that we have out there for as an in-car system, and also the uniqueness of being able to use even some of the body cameras in the commercial division as well. We've got a lot of T&Es out there right now that we look to hopefully come to fruition fairly soon, be able to announce those orders. They are sizable and so we'll continue to stay on top of them and obviously when they come through, we'll be making an announcement of those. I'd love to go ahead and open up the floor for any questions that there may be out there. Let's do Q&A. Thank you. Ladies and gentlemen, we will now begin the question-and-answer session. Should you have a question, please press the star followed by the one on your touchtone phone. If you are using a speakerphone, please lift the handset before pressing any keys. First question comes from Allen Klee at Maxim Group. Please go ahead. Yes, hello. On the, video solution offerings, can you discuss a little how the business breaks out between product sales and recurring, how we could think about the potential growth in recurring revenues? As far as the products go, most of our sales are now, over the past two years, I think at this point, maybe even 2.5 to three, most of our products are now sold on a subscription of five years. That'll include your hardware and your software, so the contract is for both. As far as collections go, usually we'll front-load it to get our hardware costs back at the point of the initial sale. On the revenue recognition side, that'll be tapered off over the five years of the contract evenly just due to rev rec guidelines with ASC 606. There's as far as, I guess, the cash inflow, it's a little front heavy, but not overly heavy. I mean, it's really software over the five years is really what breaks down. If that answers your question. Yeah. Allen, this is Stan. I'll comment on it a little bit too. One of the things, the majority, I mean, I would say well over maybe even 95% of all the reoccurring revenue is on the law enforcement side. The commercial side is just really starting to be able to get its foot in the door and mainly with the new EVO system that we're gonna start touting quite a bit. With that, I don't know if you happen, Allen, to be on the call far as the year-end, but we recently had some data that we received from one of our partners, which is a very large insurance company, that is looking to assist us in the marketing of our products through all those that they insure. They've seen a reduction in claims that almost paid for their all their devices in one year, and they still got four more years. I think, Brody, you know the exact numbers of that, what it, what it came in at. That's, that's gonna be very encouraging. That's something that we'll be looking at doing on a recurring revenues with very solid creditworthy end users on the commercial side. That's great. Thank you. Then one other question on revenue cycle management. If I could just understand a little, as you integrate acquisitions, how do you think about the synergies of owning multiple of these companies and the end markets that they sell to and different type of software? Does that matter? Or do you try to make it one type? Or maybe just explain that a little? Thank you. Yeah. No. One, the one thing, Allen, we're pretty blessed. I mean, we got a very, very strong engineering team. When we do look at some of the, you know, the areas that we can get involved in, especially when it comes to Video Solutions, we're very capable to adapt to the environment that, you know, meets their needs. I mean, if you look at it, we're doing everything from law enforcement to stadiums like, you know, MetLife Stadium to Royal Caribbean cruise lines. We're doing taxi cabs, ambulances, buses. We're doing over-the-road vehicles. The videos, it truly is a Video Solutions division anymore, to where it's not just so much of a law enforcement or just even call it in-car video because there's so many other applications that we're getting involved in. Then far as the other, you know, avenues that we may look at far as in acquisitions and companies that we would want to partner up with. Some of them we look for where they may have some uniqueness, you know, in some areas that we may not. We know that may take us 1.5 years or two years to get to that area, while we may have uniqueness that they do not. Therefore, as long as all parties are willing to work with each other, things can happen rather quickly. We've got a few of those that have come together that we're pretty excited about that will continue to enhance the revenue and bottom line for the Video Solutions side as well. On the ticketing and production side, we're very blessed because on the ticketing side, we've gone from a ticketing platform that was pretty much secondary and still does a lot of secondary business. We now have over 50 entities that we're the primary, meaning it doesn't matter if it's soccer, baseball, or a concert, you know, all the ticket sales will be going, you know, through TicketSmarter, which makes it, you know, very nice. Because of that relationship that we have and with over, you know, 200 universities, we also have unique opportunities on being able to introduce the production company, you know, Kustom 440, much like we just did this weekend, and put together events. You know, one of the things I might clarify, you know, on this event, while our number was 7,500, that may not seem like a big number. People are used to hearing, you know, stuff like Arrowhead Stadium or T-Mobile Arena, you know, stuff like that. That production that we did was in a minor league ballpark, you know, a baseball field, actually inside of it. We're capable of going to a university, a city. We can do the whole build out and everything. Because of the relationship that we've had and the credibility we have with our law enforcement background and security background, you have the city fathers and others that are willing to work with us and allow us to bring talent to their city, draw business to their cities. We believe that we'll be able to have numerous opportunities in regards to the Kustom 440 production side, which also enhances the ticketing side going forward. I hope that helped a little. Thank you so much. Thank you. The next question comes from Noumane Lahlou from NTG Capital. Please go ahead. Hello, everyone. To start with, I hope I won't be cut from the call. I want to express my dissatisfaction regarding the low and weak performance of the company. As investors, we have put so much money to invest in Digital Ally, apparently that money is being used for something else and not for the real purpose of growing the company. Overnight, for example, we wake up and without any short notice, you perform a reverse split. Secondly, what is our position as investors and victims of this reverse split when it comes to Kustom Entertainment and ticketing? We still haven't received any news about that. Thirdly, there's a poor communication between the company and investors. You never inform us of anything, you never sign contracts. You never grow business. I asked you this question last year and the year before during the conference, you promised that the company will perform better. Here we are, almost our fourth year as investors, all you do is spend the money on buying a warehouse and not necessary things. We are not even convinced with what you have been saying right now. You are not selling while your competitors are growing their business. You are behind your desk doing nothing but driving the company and investors' portfolio down. I'm so sorry, this is so fishy. Yeah. We appreciate your comments, and we also recognize that, maybe you're not picking up on all the deals. We just had a call 45 days ago. Anytime we have news that we do a press release, anytime we have a filing that's needed, we've done our filings. We continue to put together the package that we believe is gonna be very successful for the shareholders. While it's a tough market out there for a lot of companies, we feel like we're still doing the things that can build a successful company and will build a successful company with the different products that we're bringing out as far as the Video Solutions and definitely the ability to enhance the ticketing platform with the Kustom 440. Thank you for your comments. Thank you. Next question comes from Nick Tranbarger at Momentum Investment Research. Please go ahead. Hi. Thank you. Stan, a two-part question. First of all, is that we've almost eliminated the, you know, success that you had on the reverse stock split from a stock price standpoint, and it continues to deteriorate on a regular basis. What's your next plan if the NASDAQ starts to consider delisting you at that point? Second question is, with the cash burn that we currently see on the balance sheet and with the deferred revenues that you've benefited from the operating standpoint, which will reverse itself in the future, basically, based on my numbers, will create a negative operating cash flow margin. What is the longevity of the company before you run completely out of cash? Well, addressing NASDAQ, I mean, we've gotten a clean bill of health there, and I agree, you know, that's something we always wanna continue to have with NASDAQ, so we keep listed. I think one of the things with the ability to sit there and get a little more clarity in regards to some of the assets and the valuations that are there, will help enhance, you know, our stock price and also the. Much like I mentioned earlier, the commercial product, I think it's gonna enhance what we're gonna see in regards to Video Solutions. I know that the stuff we're doing in regards to the Kustom 440 in the production side will enhance both the ticketing and the top and bottom line in regards to Kustom Entertainment. All those things that you've stated are things that we've been looking at, continue to address. You know, we're getting medical billing to the point where they now are starting to reap some of the benefits that we were anticipating and hoping from them. Brody can touch on that a little bit more than I, than I could. You know, all those things that you're saying are very apparent to us and, you know, we're doing our best to address them, as quick as we can, but not being totally disruptive to where we're gonna harm ourselves for the, for the bigger picture. I think, and I feel very confident when the evaluations of the, you know, mainly the three entities that are, that are generating a tremendous amount of the revenue is recognized, and, you know, the entertainment company is, you know, a standalone entity, it will greatly enhance the visibility of both the Video Solutions and the things that they will be doing and have been doing to get back to, you know, profitability and eclipse that crossover that you're talking about far as the deferred revenue. The entertainment side, the ticketing platform has been very profitable in the past. While they did try some different, very expensive, media, approaches that didn't quite work out, whether or not we got sold a bag of goods or what happened there, we've been getting back to basics. With that, I think we'll have good success once we've finally moved on from those moves that we made eight... Let's call it 1.5 years ago. Those are, those are behind us, and that will straighten up a lot of very expensive costs that did not reap any benefits. Thank you. Next question comes from Bryan Lubitz at Equitable. Please go ahead. Morning, guys. Morning, Bryan. Morning, Bryan. All right. The first question I have for you, and I think you had touched on a little bit earlier in regards to getting your financials done for 2021 and obviously this Q as well. Do we have any timeline that we can point towards or that we're shooting for in terms of getting the actual split done with spinning off of TicketSmarter? Bryan, the timing of the actual split, let's call it, is gonna be a little bit in the SEC's hands. You know, we think that we're real close on getting the audits wrapped up. Let's say that, you know, maybe in just a couple of weeks, we have the remainder of 2021 for TicketSmarter completed. At that point in time, providing that we've, you know, got a real clear direction on the avenue that we wanna go down with some of the options that have been presented to us, we will have all the information necessary that the SEC is gonna require from us, and we can make that filing. We're hopeful that, you know, that's a pivotal point, obviously, to get that done. Once we have that all inserted into the proper documents, we'll file that with the SEC. Obviously, they'll probably come back with comments. With us being publicly held, depending on the path that we go down, hopefully, you know, it's looked at one time, not two and three, and we could go ahead and get this, you know, wrapped up fairly quickly. They are, I think they technically have to respond within 30 days of a filing. Provided they take a look at it and everything looks in order, it could happen rather quickly. I would think that we're gonna get at least one round of comments before they'll allow us to go ahead and exercise the transaction that we're, you know, that we're eventually contemplating. Okay. This one's for you, Brody. You mentioned earlier, when you were going over the numbers, that current stockholder equity in the company is roughly $30 million right now. Can you comment at all to the fact that you guys are sub $10 million in market cap, yet have over $30 million in stockholder equity? I mean, I'm trying to think what to say there. It's kind of disappointing to us that our market cap is where it is, considering, you know, the value we think we have with really our three core businesses. The business as a whole, I mean, our current assets alone are 2x our market cap. Our stockholders' equity, like you just said, is 3 x our market cap. Obviously it's not a favorable market, and we need to, you know, show some results here soon that can help this, our market cap increase as well. It's tough to see, I mean, with our market cap where it's at relative to our assets and stockholders' equity as well. Yeah, Bryan. Gotcha. That's one of the things that we're trying to do. As you know, we've attended a couple conference. We're going to be looking at additional conferences to try to get, you know, more exposure out there on, you know, the values that, you know, Brody and I for sure, and others obviously believe that we have, because you read it right. You know, there it is, you know, stockholders' equities is almost 3 x what our market cap is right now. Yeah. It's, as Brody said, a tough market, especially for small caps. I'm curious, and I know we've had conversations privately, you know, being that you guys are, you know, 1/3 of what your shareholder equity is, you know, 1/2 of what your current assets are, and you have a bunch of mailbox money coming your way as you would love to term it, Stan, have you guys ever considered the sum of the parts being so much greater than the whole, doing a private takeover of the company or selling off parts of the company? I think that's sort of, you know. The answer is yes. I mean, we contemplated, you know, a lot of things along those lines. You know, I think that's why we're doing all the things that we're doing right now as far as the audits and getting all those in place, even, you know, going back to full two years on TicketSmarter, because that opens up our opportunities. You know, whether or not, you know, it's strategic to go ahead and spin it out and let it stand on its own as a publicly held company or if the right price came along, take advantage of that as well. That actually would go with any of the entities that are there. Obviously we needed to go ahead and we do have opted financials on the medical billing side of things, clearly on the Video Solutions side. We now have the ticketing entertainment side completed. It does open up a lot more opportunities to explore not only what you've said, but again, staying the course on some of the other things that we've been in contacts with, you know, and the board is has us looking at. Super. Thank you, guys. Thank you, Bryan. Thanks, Bryan. Thank you. Next question comes from Mike Albanese at EF Hutton. Please go ahead. Yeah. Hi, Stan. Hi, Brody. Mike. Taking my question. I just wanted to talk about Kustom 440 quick. I guess congrats on, you know, getting your first event done, and I think you alluded to this, but do you have any others planned for the back half of this year? We do. Right now we have obviously a lot of offers out there. When I mean offers, you know, not only you got to coordinate not only the facility and the availability of the facility, but also the availability of the talent that you wanna have come in. There's quite a few offers that are out there that we're trying to firm up, and we'll get pretty aggressive here in the coming days in regards to going ahead and nailing some of them down. I mean, the things that you do have, Mike, is that if for some reason a particular artist passes because he, you know, just there's a conflict or whatever the reasoning may be, we are very, very well connected and positioned to go ask a... you know, someone else to step in of the same caliber. You know, if you want an A-lister right off the bat, you can go get them. I mean, you know, having Chris Young and Trace Adkins and Gabby Barrett and Jo Dee Messina, we had even, you know, some of the History and Lonestar and Clay Walker there. I mean, we had a great lineup out there and everyone just had an amazing time. What you do is we really truly are looking for not just a concert to where you've got a headliner and one opening act. You know, this is typically, these are, gates open at 1:00 P.M. and the headliner may not go on till 9:00 P.M. or 10:00 P.M. later that day. You've got like 6 different acts that would be performing, maybe more. You just gotta fill them in. We have a tremendous amount of offers out there. We have the venues identified and are working with us. I think the backside, you'll see a lot of activity on the Kustom 440 side for sure. Got it. Were you able to leverage your Shield line at all? I know, there's the potential to be able to use that at these venues. Yeah. I mean, you know, the intention is to not only use the Shield line at these events, but also to do the best that we can to be utilizing the Video Solutions side as well, far as our body cameras. Even if you have, you know, a patrol car driving around a little bit, make sure that, you know, those security people that we hire will be utilizing our product as well, and also giving us the exposure, not only to the local departments that will be hired to come in and help monitor things, but definitely our security team will be wearing body cameras and such out there as well. Was that the case for this past festival? This past festival, they had a situation where that particular company was not allowed to, they didn't have the proper insurance to go that far. While this was our first one out of the box, we've got a little more clarity on what to make sure the checklists are before we go ahead and sign a contract with them. Got it. Okay, thanks. Then, in terms of, you know, I guess revenue or just breakout in general with Kustom 440 between the ticketing segment and then kind of all other revenue, I mean, do you plan on breaking that out? I mean, the crux of what I'm getting to is, you know, I think the expectation, right, and you alluded to this earlier, is TicketSmarter was profitable. There's obviously been some headwinds from a revenue and kind of cost standpoint, you know, negative gross margins in that business. you know, back to basics, you know, you can ramp up volume kinda that coincides with the entertainment segment. I mean, do you plan on kind of breaking it out so that we can get a look at what the underlying profitability is of the ticket segment versus all else? I guess if you could provide any insight or color on top of that as to, your expectations for profitability there. Sure. Mike, I think what you're asking, you know, is that we're definitely gonna sit there and identify what Kustom Entertainment will look like, you know. I think what you're asking is, can we go a little further than that and break it out to give us an idea of what Kustom 440 versus TicketSmarter, that platform looks like as well. Right. If that's the case, I don't know why. I mean, we operate them essentially separately, so I don't know why we couldn't. You know, I'm not the accounting side of things, so I'll let Brody deal with that. Yeah, I think especially once the separation occurs, I think once Kustom Entertainment has their own filings and Qs and Ks, those they'll have it broken out absolutely between the TicketSmarter segment and the Kustom 440 segment. As we currently do it on a consolidated level, it would probably fall under the entertainment segment. I think, you know, once the separation is done, you'll really see the difference between Kustom 440 and TicketSmarter within their filings. Mike, I think, we're gonna wanna do that because we actually have been asked by other parties, let's leave it at that, to step in and put together a, you know, a, whether it be a concert or an event or something along those lines, that may be just a corporate event that doesn't have any ticket sales at all. It definitely will need to have them separated for sure when we get to that point. Yeah. Okay, great. Thank you. Yeah, that's helpful. You know, I think the, you know, the theory in a sense of the investment thesis for the, for that, strictly that segment, right, is that as you build out Kustom 440 in the entertainment segment, that will help drive scale and volume for TicketSmarter, which in theory should improve its profitability. Right, and then you kind of get the exponential growth or the, the operating leverage there. You know, I guess I'm hoping that that becomes apparent as opposed to, you know, a situation where, you know, TicketSmarter, you know, maybe doesn't get those benefits and tailwinds, but it's kind of masked by Kustom 440 as a whole. I think if you could kinda break that out in your filings and show credence to that theory, so to speak, that would be beneficial, you know, both us analysts and obviously investors as well. No, no problem. We'll take that and definitely would like to do that. If not, we'll try to if it's an accounting issue, we'll try to footnote it to help you out. How about that? Yeah, that makes sense. That works. Okay. That's really it for me. Thanks, guys. All right. Thanks, Mike. Thank you. The next question is a follow-up from Allen Klee at Maxim Group. Please go ahead. Yes. Hi. Your joint venture for medical billing, this business, it seems like it's mostly. It gets paid by doctor visits, so it's kind of recurring, and it seems to have attractive margins. Can you talk about your strategy as you're acquiring new companies, what you're looking for and how the synergies you can get from combining them, the type of customers they have? Is there any issues if there's different software being used from the various companies that get acquired? Thank you so much. Yeah. Thank you, Allen. When we're looking at these acquisitions, it's really, you know, we're looking at ones that have growth potential but also have positive earnings as they stand now and margins that can be improved as well. You've mentioned software. Once we do all these acquisitions, they all move into our software side, and we have our back office, which is really where we can, you know, lessen the costs and improve margins as fast as possible by bringing them into our back office solutions and whatnot. We do integrate them all into our systems and our processes, which is really the strategy we wanted to have anyway, because that's the way we can, you know, grow the profitability of each one of those acquisitions. If that answers your question, if you wanna. I mean, the customers, everything, obviously they kind of all mold together anyway, so I don't. As far as the medical billing side themselves. A lot of them, I think one, they've kind of been all over the United States, so I think a couple have been in the same regions, but others have been branched out in the Midwest and the Northeast, or Northwest and the Southwest. Allen, you know, again, I think the strategy, the long-term strategy is to continue to the roll-ups because it's very fragmented. It's a very fragmented market. As we go out there and continue to find the, you know, call it the mom and pops or, you know, the smaller entities, and we can roll them up and then implement, you know, our software and efficiencies that will just continue to help it grow. Right now, I think, you know, we're at a run rate, you know, somewhere around $8 million a year. Obviously we'd like to get it up, built up into the masses to where it's a very attractive, you know, candidate for, you know, a possible purchase or maybe, you know, a possible standalone. That's sort of the strategy that we've taken. We're not trying to catch any falling knives out there by no means. There's plenty of them out there. One last thing, we also don't have to be just truly what's called medical. We also can do dental and other areas that we're capable of doing. It's not just, you know, the MinuteClinic, it's also dentist offices and stuff like that as well, that we're capable of doing. That's great. Thank you so much. Thank you. Thank you, everybody, for joining us today. We really appreciate it. I know we've got a lot of work ahead of us, and we'll continue to keep our head down and do what we can to not only continue to execute on the plan and the strategy that has been announced in regards to, you know, the separation of the entertainment and the Video Solutions division or the legacy Digital Ally. We'll continue to move forward on that. We do believe that'll sit there and help bring a lot more clarity as we mentioned. You know, to have a stockholder equity of $30 million and a market cap of $10 million is just somewhat unacceptable. We've gotta get that fixed for our shareholders, and we'll work hard on doing that. Thanks everybody for joining us. We appreciate it. Ladies and gentlemen, this concludes the conference call for today. We thank you for participating. We ask that you please disconnect your lines.