Called the ultra-low balance point, high moment of inertia, and center of gravity is a key part of the design of the putters, and I'll talk a little bit more about that. Similarly, the golf shafts, which are doing extraordinarily well, we're experiencing very high growth rates of our golf shafts, and the big advantage there is the elongated bend profile, which I'll describe in more detail. We've expanded our manufacturing business, where we make all of the golf shafts and assemble the putters. It's in St. Joe, Missouri, which has a number of advantages cost-wise. Our intent is to manufacture and assemble as many of our products as possible in the U.S. Everything right now is made in the U.S., and that resonates quite well with customers even in Japan. I was over in Japan in June. We've just launched in 50 large retail stores in Tokyo. They wanted to make the logo on the shaft, which says "Made in the U.S.A." They wanted it bigger because the competitors, interestingly, who are Japanese companies, Fujikura and Graphite Design, they make their shafts in China, not as high quality. Our future expansions may include broadening our offerings through mergers and acquisitions or internal developments of other products. Just a little bit about me. First and foremost, I'm a tech guy, a bit of a geek that way. I've got a Ph.D. in engineering and physics from UCLA, did an undergrad at Cambridge. I've had a kind of a track record of starting companies in the tech space and then having successful exits. So the first company was in the semiconductor space. We did an IPO. We sold to Lam Research. I then worked at Lam for quite some time managing a $2 billion P&L. I then went into satellite communications. Again, in the tech space, we put Wi-Fi and Internet Protocol TV on Southwest jets as well as other airlines. That's where I kind of got hooked on digital marketing and e-commerce, which is really key to our business today, and I'll talk about that a little bit. We ended up selling that to a SPAC and did an IPO. Then I was the first investor in Sacks Parente, so I believe in the technology, and I've been chairman of the board since 2022. A few highlights here. We did do a press release on Monday morning announcing our third quarter early results. We haven't filed our Q yet because we have to go through audit review. We filed that the revenue range was in the range of $1.15-$1.25. Take the midpoint. That's about where we are, $1.2 million, which is pretty significant growth over the second quarter, which was about $800,000. So about a 50% growth in one quarter. It's 12X what it was 1 year ago. So third quarter 2023 was like $95,000. So we've 12X'd it. We had a really good gross margin, about 67%, and that margin's gonna get better with increased volume and manufacturing. I'll talk about that when I talk about the business model. These are most current stats on the stock. Trading roughly $182 right now. We have 1,008,025 shares outstanding. Market cap is a paltry $3.3 million. We have $1.6 million in cash, so enterprise value's $1.7 million. You take that $1.2 million third quarter, that's a run rate of $4.8 million annual, and we're growing. So you can do the math on the multiples. We think we're very undervalued. Inside ownership is 47%. We're expecting rapid multi-year revenue growth. We've recently expanded into 126 Club Champion stores. So you can go to a Club Champion store, you can get an appointment with a fitter. They'll recommend our shaft, put it on the club, test it. You buy it through Club Champion. We're also talking to True Spec Golf, GOLFTEC, and Urban Golf Performance. So we're gonna expand in retail, but our primary business is direct-to-consumer using digital marketing campaigns on Meta, Google, we're in Amazon, and email marketing campaigns. We just announced that we signed a Japanese distributor, and I earlier mentioned that we're in 50 of the largest retail stores in Tokyo. So we're expecting a pretty nice boom in our Japanese business. We already have a Korean distributor in place who purchased shafts and purchased putters. So just a little bit about the industry. You can see the growth. There was a real bump up because of COVID, and it's maintaining, so 2023 was 27 million people in the U.S. who played on a golf course, 25 million people in the U.S. who participated exclusively in off-course golf, 15 million, so the total number of Americans age 6 plus who played golf both off-course and on-course, 41 million people. The equipment market is about $10 billion. The U.S. is about $5 billion, and there's roughly 4 million drivers purchased every year. Why is that important? That's our TAM for our shafts. The nice thing about what we do is we sell a replacement shaft. If you have an existing driver and you wanna upgrade the performance of that existing driver, you could either purchase a new driver for $750 or you can purchase one of our shafts for $275, unscrew your old shaft, put the new shaft in, and you're ready to play. Okay? These adapters that allow that to happen have been in place for about 10 years now. If you take four million a year, go back 10, you got about 40 million shafts that are possible to replace. It's a very sizable market. We also sell 3 wood shafts, 5 wood shafts, and 7 wood shafts, so we could have 3-4 shafts in a bag. You would multiply that by 3 or four, and then there's 2.45 million putters purchased every year. So that gives you a sense of the size of market we're addressing. Let me talk a little bit about our products. The Newton Motion replacement golf shaft, we call it Distance Made Easy. We introduced it in November 2023, but we didn't really start marketing it until February of this year. It is taking off. The Newton Motion Fairway Wood shafts were introduced in April and is replaced, targeted the replacement fairway wood shaft market. Our price for the driver shaft is $275, $250 for the fairway wood. The competition, which is Ventus, Graphite Design, and HZRDUS, are all $350 +. So we have a better performing shaft at a lower price point. And let me talk a little bit about that for a second. So this is a driver, and this is our shaft. You'll see it's kind of a cool color. It changes color in the sunlight and under different lighting. But the key technology in this is its bend. So you see how the shaft bends like this. When you're pulling down on the shaft driving, this is about 200 grams. You bend the shaft, and the force or the energy that you're putting into that shaft is stored in the bent shaft. And when you hit through the ball, all that energy that's stored up releases and is transferred to the ball. Okay? So think of a bow and arrow. When you pull the bow, you're doing work. You're putting force into that shaft. You're bending it. And then when you let go, that energy that's stored there fires the arrow. Okay? Think of a short bow versus a long bow. A short bow is gonna be a little harder to pull back, and when you shoot it, it's not gonna go as far. If you have a long bow, you can get more energy into it 'cause it's a bigger volume to store the energy, and that arrow's gonna go further. Okay? So our advantage is we have an elongated bend profile. The competition has a short bend profile. Now, they can move theirs up the shaft, so pros like it up high. Amateurs usually have it low. But ours allows you to easier load the club easier, and when it releases, it's not a violent kick. It's a slow right through the ball. When I say slow, it's milliseconds. But it's, it's a more efficient energy transfer through the ball. This has been verified on robot testing, where we got much higher energy transfer into the, to the ball. So we think we have a truly differentiated product on the shaft, and this is being verified on the tour. So let me just quickly go forward to that. We started, went to the first tour event in Newport Beach in February. We showed up every week. We have all the shafts in the equipment truck. We have a guy on site who can build and custom-make these shafts for the pro and their different needs. We have 34 Champions Tour pros signed up in the first year, which is pretty stunning success and validation of the technology. So, the other thing that we've done is we've introduced an easy-to-pick dot system. Currently, you have like lady shafts, senior shafts, regular shafts, stiff shaft, extra stiff shaft. It's kind of complicated for the consumer to pick exactly what they need. We have a dot system. You just basically take your average driving distance, or if you know your swing speed, you pick a dot, you pick the type of head you have, you order it, it comes ready to play, you unscrew your head, put the new one in, and off you go. So we've simplified that for the consumer. We just recently, in September, introduced a new line of putters. We call it Gravity. Back to Sir Isaac Newton and physics. There's a number of things that are very important in putter design. The first of which is you need the ball to roll smoothly and straight. So for the ball to roll smoothly and straight, it needs to be struck in the center of gravity of the putter head. In other words, in the midplane of the face. If you have too much weight below the center line, it'll launch the ball. The other thing is you need the center of gravity to be as far forward as possible because if it's further back, it'll create side spin on the ball. So having the center of gravity as close to the front is made possible by these tungsten weights and carving out as much mass away from the back as possible. And then the other important thing is speed control. So for speed control, ideally, you want gravity to be your friend. So you wanna take the club back. As you take it back, it goes high in the air. If you can see that, it's storing potential energy. Now, if I let it go, gravity will accelerate it, and the speed at which it strikes the ball will basically be the square root of 2X the gravitational constant times the height. So if I wanna put it further, I just take it further back. If I wanna put it a short distance, I just... So it's allowing gravity to do the work for you instead of your body. And that gives you much better speed control and consistency and tempo. And we're able to do this because of what we call the ultra-low balance point. So if I ask you to grab that putter, did that surprise you? Yeah. It's super... I've asked you to grab it that way. See? So it's a super light shaft. This is a carbon fiber shaft. And in the Gravity putters, we call it tempo. It's a super light grip, and all the weight is in the head. So that's what allows this pendulum natural motion, which we feel is very important in putter design. And we introduced these recent, really cool-looking set of putters. We've got the Deuce, which is a double-wide, Anser-style putter. We have the Classic, which is a standard Anser putter. We have the Duke, named after Ken Duke, who plays that on the tour. We have the Drac, which is a fang-style putter, and we have the Prism, which is a mallet putter. And we've done an independent study up in Canada, which was pretty interesting. There were 15 volunteers, various handicaps, and each golfer was given 52 putts with their own putter and then 82 putts with a Gravity ULB putter. They were fitted up with dots all over them so that you could measure your body motion, your shoulders, your hands, your wrists, everything like that. That's the GEARS system. There were 600 images per putt generated and analyzed. And the bottom line is 56% increase in the number of putts made using the Gravity putters. So the data backs up the physical principle of design. So here's some of the competition. I mentioned a few of these already. In the shaft business, you've got Fujikura with Ventus. You've got Graphite Design, Project X. And then putters, it's the big boys: TaylorMade, Ping, Titleist, and Callaway. So how do we get growth? So one is you expand your product line. So we went from putters to now shafts, and the shafts are doing it, as I said, extremely well. We got them into 126 Club Champion stores. We've got incentive programs for golf pros. There's a RepSpark platform. You can go into any private golf club. You do a vig for the club to make. The member gets a discount compared to retail, and it's all automated. So we've expanded into a whole bunch of RepSpark pro shops. We have 74 independent club fitters now signed up. Our goal is to get to 100 by the end of the year and targeting golf instructors to do fitting. I mentioned the aggressive digital marketing campaigns. The advantage of that is the data. Okay? So for anybody who's got any experience in that area, advertising dollars need to be spent accurately and carefully. And the reason Meta is such a powerful platform and why it's an incredible stock right now is because they're using AI and probabilistic methods to do extremely accurate targeting. So we run 3 types of campaigns. One is top of funnel to generate as much traffic as possible. We then do a retargeting campaign. So people that have gone to the website, have looked at a product, maybe even put it in their cart but didn't exit, and we retarget those people with a different ad, and then you can assemble Lookalike Audiences, so you can take your email database. We have 120,000 names in there of people who've bought the product, and you can assemble an audience that is similar to the people that are buying your products. Okay? So those are called Lookalike Audiences, and those campaigns are very efficient on return on ad spend, so we've had as high as 5:1, so you spend, you know, $1 on advertising, you get $5 worth of revenue. The other advantages, especially now as we're coming into the off-season, is you can target Sunshine States, so as the Northeast stops playing golf, you can target the people that play golf year-round. That's proving very efficient for us. I've already mentioned the Champions Tour. They're listed here. So let me just finish with this. We wanna accelerate the introduction of the Newton Motion shafts and putters over the next 3- 5 years. We're ramping production. As you ramp production, your unit cost goes down. I mentioned a 67% gross margin in this last quarter. Our target is an 80% gross margin, which we can get at a $10 million run rate. So the business model is $10 million run rate, 80% gross margin gives you $8 million, OpEx $7 million. You got $1 million of EBIT. That's a $2.5 million per quarter run rate. We're at about halfway there right now. We think we can get there by second quarter next year. We're gonna continue to grow the DTC business. We're gonna grow the international retail and online, and we're gonna increase tour presence. We're going on the LPGA Tour next season as well as the big tour, PGA Tour. So I think with that, I've got 6 minutes left for questions and answers. Yes. With that growth trajectory, you only have $1.6 million. Can you get to 10 million in revenue as per your goal with that just 1.6 million? Yes. So we do have a Reg A filed, and we plan on doing another offering. But as our revenue grows and we keep growing our gross margin, we'll be consuming less cash. But you said it, 10 million gets you to 1 million profit because of the OPEX. Correct. So, yeah. So you. And the 80% margin, it's clear. So you're just pouring all the cash into marketing. Correct. For the business. Understandable. So with that Reg A, how much are you planning to raise? We haven't decided yet. It's the nice thing. What do you think you need to get to $10 million? Oh, I think we can do it with about $2 million. Yes? Can you talk about the capacity at the Missouri facility? Like, what's the annual run rate of shafts and then how many can that make? Good point. So we'll build 11,000 shafts this quarter, Q4. We've made all the investments in the equipment that can take us all the way to $40 million of revenue. The amount of labor one would need, we don't fully understand that yet. For instance, we have a CNC cutting station. That's at capacity right now at the 11,000. But you can just add a second shift 'cause it's labor-limited, not machine-limited. Right? 'Cause we're only running single shift right now. So I think we can easily get to $40 million with a pretty efficient factory. Yes? Can you talk about differences between your strategy when it comes to the U.S. and then, like, selling between the U.S. and, you know, Japan and Korea? Because you have a lot of retail locations, it sounds like, open in Japan already. Do you provide publicly with revenue splits between U.S. and other countries? We will. Yeah. We don't currently, but we will. Okay. So Japan is a very interesting one. Japan, private clubs in Japan are very expensive to join. They're mainly corporate-owned, and you become a member because you're part of a corporation. You also don't tend to buy your clubs at the club. You go to a fitting place, which happens to be in the city. Okay? And there's very large retail chains of these stores. I went and visited a whole bunch of them. So the main strategy in Japan is to be in the top retail locations, which we've signed all those agreements. In addition to that, we signed GDO, called Golf Digest Online, which is the largest e-commerce in Japan for Japan only. Okay? We're also having a tour presence. We just signed a first LPGA Tour player in Japan. We plan on getting Japan's PGA players as well. And then we have a sales representative over there who also represents Greyson Clothiers, and they're developing YouTube influencers for the Japanese market. So we're relying on retail, e-commerce online, and influencers to grow Japanese sales. Korea is a little different. We have a formal distributor there for the shafts and the putters. They have a number of their own fitting locations throughout Korea. And they're also trying to penetrate the Korean PGA Tour for us. But those are the number 2 and 3 markets after the U.S., and they actually spend more dollars per capita than we do here in the U.S. on equipment. Yes? You have a lot of sponsorships on the Senior Tour now and Champions Tour. Yeah. Are Are you planning to get the PGA, or is that a different dynamic 'cause of cost? It's a very different dynamic. We signed a tour rep back in, like, March for the Champions Tour, Andy Harris. He's a former tour professional. He has a lot of relationships. We had him start on the Champions Tour, but we found that we needed Aki, who's our founder, who's much more technical, to really be the guy interacting with the pros on the range and fitting them for clubs. That freed up Andy kind of towards the end of the season to go to the big PGA Tour, so he did 10 events on the PGA Tour, and we've got a number of pros that we're now custom-making shafts for that we hope we'll start putting it in play next season. The nice thing about shafts versus the full equipment is you don't have to pay the sponsorship fees that, like, Titleist and TaylorMade pay, right? 'Cause it's just a shaft. So we don't expect to have to pay big fees, but we do expect to have to pay more on the PGA Tour than we do on the Champions Tour. Dottie Pepper, who's a, you know, longtime multiple champion, major winner, on the LPGA Tour, she's on our board. She's helping us get into the LPGA, and we plan on having Aki go to the LPGA and kind of get things going on that tour like he did on the Champions Tour this year. Anybody else? I don't know if you can get this question. What's stopping one of the bigger players from coming in and, well, trying to buy you guys out, I guess? I mean, is that? That's a possibility. I didn't mention it in my little bio that I shared at the beginning, but when I started my first company, it was like David versus Goliath, right? I was in semiconductor capital equipment, which we sell those machines for like $4 million a pop. They're selling now for $10 million. The ASML machine was almost $100 million, and we were going against Applied Materials, Lam Research, Tokyo Electron, big multi-billion-dollar corporations. And most people didn't think we would ever make it 'cause we couldn't, we didn't have the R&D budget that these guys had. So we had truly differentiated technology. We produced a better result on the wafer, and we were successful. We grew our revenue. We went public, and then we got bought by one of the big boys. I see a similar analogy here in the sense that we're going against the big boys: Titleist, TaylorMade, Callaway. Interestingly, those 3 companies, you know, they're relying more on soft goods: FootJoy, TravisMathew, golf balls. They're buying Topgolf. They're kind of losing their way on the innovation side of the equipment. So there is a possibility that we could get acquired by one of those. She's saying stop. Okay. Thank you very much.