Hello, everyone. We're Newton Golf. I'm Jeff Clayborne. I'm the CFO and COO of Newton Golf. Aki is here. He is our Founder and Interim CEO. We will go through about 20 minutes, go through a few slides, and spend 10 or so minutes on Q&A. Also, before I get going, this presentation's on our website, so y ou're welcome to go there, look at it. If you've got follow-up questions, you can reach out to me, you can reach out to Ron Both, who is head of our IR. I'm not going to spend much time here. The company was founded in 2018. We went public in 2023. Stock price as of June 1 was $1.02. Last time I checked today, it's right around $1.02. 4.5 million shares issued and outstanding, roughly a $5 million market cap. We'll go through sale. We're on a tremendous growth trajectory is the only thing I would say. Again, we had one shaft, the Motion shaft in 2023, $300,000 revenue. We introduced the Motion Fairway in 2024, $3.4 million. We did $8.1 million last year on the heels of introducing our Fast Motion shaft. Aki will explain the differences of the shafts in a second. The only major difference on this slide is we show we have a $500,000 of debt of 331. If you followed any of our filings, we issued subsequent debt convertible notes. We now have just over $2 million of debt on the books. It is convertible at a fixed conversion price of $1.60. Investor, company friendly. Mostly insiders that came in on the convertible debt. Who we are. Newton Golf. Aki will go through this in a lot of detail. We're a technology forward shaft company. Our Dot System is our proprietary. It is what we are going to build the business around. In just three years, last year, we were the number one shaft at Club Champion, and we manufacture in the U.S. All product historically was sourced in the U.S. Unfortunately, due to the situation going on in the Middle East, there's some shortages in carbon fiber. The military takes precedent in our country. When they put an order in, they get the carbon fiber. We are now going to be shipping in some fiber from Toray, Japan, to continue our manufacturing. We have a large market that we are disrupting. Again, not going to spend much time here. This is basic investment 101. I don't want to bore you. This is the problem that the industry's facing, where I'll turn it over to Aki. Sure. Can I get a quick hand if you're golfers? Fantastic. Right? You guys know that golf is a very difficult game. It's the hardest game ever, right? Very, very difficult game. Everybody's looking for the Holy Grail. If you're not looking for the Holy Grail, you're not a golfer. Right? What's the Holy Grail? Well, people love to drive for show. Okay? We started out as a putter company thinking that putt for dough is more important, but i t turns out drive for show is more important for most people. Let's talk about drivers. The head or the driver heads are regulated, right? I think most of you know that. USGA regulates the speed at which the ball can come off the face of the club. You can't go any faster by getting a new Titleist head, et cetera, et cetera. The only way you can go faster, straighter, longer is through your shaft. That's where we see the opportunity. The other great opportunity that the industry created for us was the adapter system, right? You can unscrew it, try a new shaft, try it, hit a few balls with it, see if you like it. If you don't like it, put your old shaft back on. Super easy. Back in the day, you would have to take the shaft out, epoxy a new one. That's like getting married without going on a date, right? Really, that's a lot of commitment. But in our market, super easy. That's what makes our market. That's the opportunity. When you buy a driver, it comes with a shaft. They're no good, okay? The manufacturers are giving them to you for free. Most of the time, they're $10 shafts made in China, right? It might have logos on it. It might have a big-name manufacturer's name on it, but i n fact, it's not the real thing most of the time. If you're a serious golfer, you will have to upgrade, and upgrading is very difficult. These are the things that we've kind of outlined, which is there's zero standardization. When you look at specs, you look at torque specs, what have you, not standardized, so y ou can't compare apples to apples. There are a lot of SKUs. Okay? Between Fujikura, Graphite Design, True Temper, and. Autoflex. Huh? Autoflex. Well, there's Autoflex too. But between the four big shaft makers, there are no less than 50 driver SKUs, and i n each of the SKUs, you have different flex and different weight. You have to pick and choose the right one for you, which is basically almost impossible unless you're in the industry, okay? People go to fitters, w e're going to talk about fitters as a channel, but i t's a very, very difficult market to navigate and pick the right one. Again, there's an opportunity to simplify that, right? All this stuff is very, very frustrating because you're going to buy something, doesn't really work. Well, is it you or is it the shaft? We all like to blame the equipment, right? A lot of times it's the equipment. That's the opportunity that we see, and that's where we come up with the solutions. Okay? The Dot System. One of the things we noticed is that traditionally, the shaft flexes have labels, letter labels. You have L for ladies, softest shaft. You have seniors, they don't call it a senior, they call it an A shaft, for whatever reason. You have regular stiff and extra stiff. Sometimes you have Tour X, extra stiff. They're not standardized, r ight? The other problem is that a lot of these labels have a stigma because all of us that are golfers, we were younger, yesterday and years in the past. We used to swing stiff shafts, most of us, maybe even X shafts. As we get older, we're supposed to be going to a softer shaft, but swinging a regular shaft compared to a stiff shaft, that's like an admission of defeat. We're getting old, right? Let alone going from a regular to a senior flex. Tremendous barrier psychologically, so w e created the Dot System, which goes from one to seven. Okay. One to seven. Now, this is where it gets interesting. We talk about drivers. If you have a great driver shaft, you're going to say to yourself, "How do I get the perfect fairway woods? How do I get the perfect hybrid woods?" And so on and so forth. You can't just pick the same shaft that you have in a driver and put it in your fairway or the hybrid or irons. Sometimes, they don't fit. They're not built the same way. Oftentimes, they're not designed for these other clubs. You have to go and choose the right shaft, which is a different shaft, for all these other clubs. It makes the purchasing decision very, very difficult. And that is what the Dot System solves. With our system, if you get fitted for, let's say, a 4-D ot Newton Motion Fast Motion shaft, t he idea is, if that fits you, all you have to do is to get a 4-D ot Fast Motion Fairway for your fairway shafts, and then 4-Dot Fast Motion Hybrids for your hybrid shafts, and they all perform the same. They all perform the same. We do the thinking, we do the engineering, we make the purchasing decision easy. That's the crux of the Dot System. [audio distortion] Yeah. Again, we've got a few products. You have the Motion. That was our first product. Aki can go in a little more detail later if you guys catch him one-on-one. The Motion shaft is just a little bit heavier. The Fast Motion shaft, which is next, it's priced a little bit more, not because it's better, it's just a little bit lighter. Aki will say golf is about a lot of trends. Right now, the trend is everyone wants a lighter shaft. Have a lighter shaft, they swing the ball faster, I'm going to hit it further. That isn't necessarily true, h e can give you a golf lesson later on what that means, but i t is a differentiation of product. We also have putters. The company is founded on a putter business. We will revitalize the putter business later. It's only 1% of our sales. As we begin to establish floor space, you'll see us in the putter market. Until we get there, putter's all about feel, and like Aki said, you putt for dough, but you need to feel it. No one's going to go online and spend $550 on a putter generally, unless they get to test it out. All right. I can do this one. Yeah. Performance. Okay, we're all about performance. We don't manufacture stuff overseas and put nice logos on it, nice paint on it, and say, "This is the best thing ever." We don't do that. We care deeply about performance, and I think that's why we've done really well in a very short amount of time. If you look at this, we've been number two shaft on the PGA TOUR Champions for over the last year. Again, we've only been around for less than two and a half years. A little over two and a half years. That to me is validation because these guys will not put a shaft in play unless it's better. We don't pay them to play it. They're not being paid enough to play something that they don't like. It's all about performance. One of the things I want to highlight. The world's fastest golf drive. We were part of the Guinness World Records challenge, and there was a guy named Thomas Fliniks down in Australia, w e were able to break the world record. The ball speed was 235.1 mph. Just to put that into context, most of us, if we're hitting 140 mph, we're doing pretty well, right? We're doing pretty well. DeChambeau on the tour, 190 mph. He can break 200 mph, but o n the tour, he's swinging at 190 mph. Right? 235.1 mph. The reason why we love doing things like that is because this is the ultimate test. It's the pursuit of what carbon fiber can do in the golf space. Thomas Fliniks used our Fast Motion 3-Dot. At raw shaft, full length, 46.5 in, it weighs 49 g. You have 49 g of carbon fiber, and you're making a violent collision with a golf ball 235 mph. Right? I think that's very cool. That's all performance. Okay. We got a few minutes left before we start taking some Q&A, and this will get into the heart of some numbers and why Newton. Just a history of where we've been. Obviously, steady revenue growth, increased gross profit. We had a little decline in our gross margin due to the explosive growth last year, a lot of overtime, scaling, two and a half years in the company. However, we feel pretty good that our target margin is closer to 70% long term. Okay, Q1, so highlights. Anyone that's been following us, we had $8.1 million of sales in 2025. We started the year off a little light at $991,000, but there was a reason for that. We didn't shut down the factory, but we partially shut it down to increase our scalability and fulfillment capabilities. We changed the way we manufacture the process. It's all handmade, all handcrafted in Saint Joseph, Missouri. We changed the paint process. The shafts that we are now producing are substantially better, and we're increasing our capacity. That took a little time to do, partly because of the Dot System. As we're bringing out the new products, we introduced three new products at the PGA Show, the Fast Motion Fairway and the Fast Motion Hybrid and the Motion Hybrid. To ensure the consistency, so, as Aki said, we do the thinking for you, as we started creating the products, we needed to modify the products we already did slightly. That took a little bit of time. The most important thing of this slide, though, is demand didn't slow down. We had a backlog of $1.2 million, split $900,000 with D2C, $300,000 for our wholesale customers. If you had added that, if we had shipped all that backlog, we would've been up 60% year-over-year. The demand still remains solid for the company. The revenue will catch up as we continue to ship. Our backlog now is, we should have our D2C backlog done and caught back up by the end of next week or the following week, and wholesale early July. Not much more here. I'll spend more time on our future because all this is in the Q, K. I mentioned before, we're 91% D2C, 9% wholesale, 0% international. That is increasing. The important part of this is we're a D2C company, and so, when you look at us when we're losing money, partly is because we're growing our business. Customer acquisition cost is substantial on D2C. To increase our revenue from $300,000, $3.6 million, $8.1 million costs a bit of money, and it's all D2C- driven, and we haven't introduced all the products, so it's one and done. Your average cart size is going to be one shaft, and I'll allude to that a little bit more in a second. The four ways we're going to scale. Shaft expansion. This is the single most important thing for our company. With the introduction of the Fast Fairway and the two hybrids, now outside of the irons, all your driving shafts, you can grab a Newton. If you go through the painful fitting exercise and you know, as he mentioned, you're a 4-Dot Fast Motion, okay, y ou know you're that, n ow, you can go buy your fairway, three and five, maybe your seven. Hybrids, three, four, five, six, seven. That customer acquisition cost, which is sizable, our customer acquisition cost is about $120, varies between $90 and $120. If your cart basket is one shaft, that's expensive, right? Even with the margins. Now, if someone can actually buy two shafts, we start bundling. Let's face it, $325 for a shaft, that isn't something, most people can't go buy seven Newton shafts, but they might buy one a year. We're not paying for that customer to come back. That is the single most important thing in the Dot System is that once you see the performance, once you buy into the Newton brand, you'll come back. Our email campaigns are tremendous. Once a customer is in the fold, we get a lot of repeat business. With the Dot System, we sell you the driver, we feel pretty comfortable you're going to continue to come back year after year and continue to upgrade your shafts. The second big one for us is OEMs. Obviously, that is Callaway, TaylorMade, Titleist. What is so important about them? Again, as Aki alluded to, they will give you a cheap shaft, $10. Maybe you get a $70 shaft because they're in the business of selling five $800 driver heads. They don't want to take that $800 driver head and make it an $1,100 purchase, right? That's what they want to sell. Besides that, in the upgrade market, with the OEMs, if you go to Club Champion, they'll fit you at Club Champion. They carry the Newton shaft. A lot of the fitters, if you're not selling and you're not in their catalog, the fitter community can't sell a Newton shaft because Club Champion will actually fit you there. They'll put your clubs together, they'll send you home. With other fitters, they'll send the order to Callaway in Mexico. If you're not in the catalog, they can't send the order to Mexico and have it come back, and then they piece together your bag for you, and you go home with it. The other part with the OEMs is Callaway has, I don't know, what is it, Aki? Like 2,000 to 4,000 individual fitters? They have a lot. Right? You also have the tour van. That is the marketing genius for us, where we'll draft behind it because once you're in a tour van, you've got golfers that it's all about performance. You've got guys that they'll test it out in the fall, and they're not going to change their bag all season. You got other guys, they'll tinker with it. They'll change stuff out every week, right? If you're in a slump, your caddy can go into the Callaway van if you're a Callaway golfer, and now you can grab the Newton shaft. We can't afford to pay Rory McIlroy an NIL deal, but it doesn't mean he won't use our shaft. He'll use it in play. Having these pros, the PGA guys, using our shaft will lower our customer acquisition costs and tremendously explode our awareness. Get in their catalogs. Everywhere you go, you go to DICK'S Sporting Goods, you go to Golf Galaxy, we're in the catalog. We're getting free eyeballs, right? The OEM isn't just about driving more revenue, it's driving the eyeballs, which with the Dot System, leads you back to our website where we get our highest margin. The next one's wholesale growth. Again, you land the OEMs, the wholesale, your Golf Galaxies. You got to be in business for a little while, right? Again, we're only two and a half years old. Part of taking a spot, you go to a retailer, you're taking someone else's floor space. They have to know you're going to be here for a while. You need staying power. You need validation. As earlier slides, you've seen the validation of the company. We're now increasing our floor space. We hired an additional salesperson this year. We're going to hire two more salespeople to continue to increase our floor space. Once we have the floor space, then we can start introducing the putter line. Lastly, it's international. I was actually kind of shocked because I'm not a great golfer, but roughly 80% of the golfing market's right here in the United States. However, the two largest markets outside of the United States are Japan and Korea. Korea just placed a 1,000-unit order in January. We just inked the deal. The order came in in February. They already blew the minimum guarantee, so we're off to a great start on our international expansion. Literally, this is just the example of what the OEM could mean to us. There are 10.5 million driver heads sold a year. That is the mix of them, and then that's kind of the OEM mix. Callaway's obviously number one. TaylorMade's right there. We just did a quick high-level analysis what it'd mean. If we got a half a percentage of the penetration of the new shafts sold, it could represent 52,000 shafts, $6.8 million of revenue. Again, we're $8.1 million in revenue last year. We are also in discussions with multiple OEMs and also commercially shipping to an OEM. We just haven't announced it in a press release yet. We're making tremendous inroads there. The big one, though, is the aftermarket. The aftermarket isn't really in the total addressable market in the back because if there's 10.5 million shafts a year, the average person holds onto their clubs for five years, that's over 50 million shafts that could be upgraded. Statistically, you do a lot of research, maybe there's 10% of those would ever get upgraded. That's five million shafts, right? If we get a percentage of that, 2.5%, we can sell 100,000 shafts to them. That's $19 million in revenue. When we pull it all together, we see OEM being a little bit of a flywheel because you get the awareness. Thank you. When you see the mix, D2C will sell the least amount of units but generate the most revenue. OEM will sell the most units, decent revenue, and then wholesale will kind of pick up the back, which represents 305,000 units. We sold commercially about 45,000 units last year. There's a bit of a runway to get there, but mathematically in the exercise, we're already number one in Club Champion. We've got 60 club pros using it. We're now getting the OEM. If it was a baseball game, we're in the first inning. We're just getting going, but that represents the potential of getting to $55 million. With the penetration we're talking about, that's not too crazy. Key takeaways and then we'll take some questions. Record sales in 2025. High gross margin. Number one shaft at Club Champion in a short period of time. Over 60 pros put it in play. We have the proprietary Dot System. We're introducing three new products this year. We've got OEM penetration. We're expanding internationally. With all that, even with a slow Q1, we still feel like we'll have a record year 2026. With that, we'll turn it over to some questions. Two quick ones. Why Saint Joseph, Missouri? That's number one. Then second, I'm not familiar with the golf market enough to know. Is there a pay-to-play dynamic with these individual fitters and things like that where you kind of have to offer them financial incentives to carry your product or push your product? I'll do the second one. There is no pay to play. No. The only thing we do pay to play is we call it, Aki calls it tee up money for the Tour Champions. The guys on the Champions Tour, they don't get paid a lot of money, so w e divvy up $6,200 per tournament, and the top five guys are using a Newton shaft, split the money. Yeah. On the other side, the wholesalers pay to play, t he wholesalers get a discount. Right. On one, it's right in the middle of the country. Two-day ground shipment pretty much anywhere in the country. Virtually free rent, right, and decently available labor. Yeah. $3,900 a month rent. Yeah. If any of you guys are from California, you know the labor laws in California, it's the opposite in Missouri. Any other questions? How are you spending the marketing dollars? These numbers are pretty impressive. Where are you spending? All right. That's a great question and I'm glad you asked it. One. We've been really effective, but terribly inefficient. What I mean by that is literally, 90% of our dollars were spent on Meta and 10% on Google. We're switching agencies. We're going with a much superior agency to split because we need to start marketing to younger people. We started out in the older demographic. Guys my age, we swing a little slower. The other part of selling to an older demographic is primarily because a lot of empty nesters. You've worked your whole life. You got disposable income. Golf isn't cheap. You need time to get good at it. Kids are gone. It's a good place to introduce the product. But to really to be a player to get to $55 million, we got to get younger, which means we need to have a presence on YouTube. We've got a lot of B-roll content. There's things that we need to start doing, so w e're going to substantially start stepping up our marketing efforts in Q4. I know we're almost out of time. Maybe one more question? Anyone's got one? All right. Thank you, everyone. All right. Thank you very much.