Hello, everyone. This is Craig with RedChip Companies. Thank you for joining today's event with Off The Hook, which trades on the NYSE American under the ticker OTH. With us today, we have Brian John, the CEO of Off The Hook. We will begin with a brief presentation in a moment, and then we will answer your questions. Users may submit a question at any time. Click the Q&A button at the bottom of the Zoom window. Before we begin, please allow me to read the safe harbor statement. "This call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management, constitute forward-looking statements. Any statements that are not historical fact should also be considered forward-looking statements. Of course, forward-looking statements involve risks and uncertainties. I now turn this webinar over to Brian. Here we are, Brian. Hi, everybody. Thanks for jumping on today. Sorry, I'm gonna keep my camera off for this one. We just did a webinar a little while ago. I'm actually at a conference today and jumped up into a conference room 'cause I didn't miss the opportunity to give the presentation to anyone who hasn't heard it yet. I just kinda looked through the list of people on here. There's a lot of very familiar names on there, so I'm gonna give a real high-level kinda run-through of the deck. I'm sure the RedChip guys can provide everybody on the phone with a copy of the deck. If you wanna spend a little more time going through it, I'm sure you can do that, and then we'll answer any questions, and then I'll focus on kinda where we've gone since we've IPO'd and what we've accomplished since we IPO'd. You can go to the first slide, please. Keep going. Keep going. There you go. Off The Hook Yacht Sales. We're an AI-driven technology platform that we created 13 years ago that we've been feeding tremendous amounts of data into for 13 years, and that system has made us become the largest buyer and seller of pre-owned boats in the entire United States. The system's designed to keep our sales team and our buyers team from making mistakes when they're purchasing boats or selling boats. You can go to the next slide. This slide is just an overview of the market. It's a huge market. You know, over $100 million in boats sold every year. Ten million dollars worth of used boats a year, about 1 million used boats a year. We'll probably do close to 400 boats a year this year. The company's done very significant over the last 13 years. The company's been profitable every year. The company has never taken in capital before. It's kind of been organic growth, borrowing from Peter to pay for Paul for 13 years, yet we still manage to stay profitable every year. The number I wanna focus on here is that number five times the middle there. A normal boat dealership turns their inventory one, maybe two times a year. We turn our inventory five times a year, which is tremendous compared to what's out there. We're very active. Next slide, please. That's the slide I was looking at the market we just talked about a minute ago. Big market. We're just touching the surface of it. We'll probably do, you know, 400 boats in 2025, so just scratching the surface. Over 1 million used boats sold every year. You can go to the next slide. People ask all the time, you know, "What is Off The Hook?" It's very hard to compare us to other boat companies. We do a lot of different things. We're primarily used boat-focused, so that keeps us from having OEM constraints a lot of new boat brands have. They can only buy certain brands of boats, sell 'em for certain retails in certain territories. We do sell some new boats, but they're on our terms. We don't really do that type of business. Because we're used-focused, we can pretty much buy any brand of boat from anybody we want, and we can sell it anywhere in the world we want, and that's one of the reasons why we're so active. We actually set the market for used boats. There is nothing out there like a Kelley Blue Book if you ever sell in the car business for boats. There's nothing accurate you can use to look up the price of a boat. We're that, right? So they call us the market maker for used boats. So you can think of us as a platform. We have, you know, buyers on one side of the platform, sellers on the other side of the platform. They're communicating 24/7 across our platform in order to make boat transactions happen. Next slide, please. No, you can go to the next one. This is fine. This is a look at all our different divisions. We have a division that touches every part of the boat-buying business. We do that on purpose so that we don't lose a customer, basically. Once we get a customer, we wanna first try and wholesale his boat. That's the primary way that we do boats. Wholesale is when someone comes to us through one of our sites or somewhere else, we give them a price for the boat. We purchase that boat into our inventory. If that person doesn't like our purchase price, then we'll also broker the boat for people, where, you know, I'm sure brokerage people are familiar with brokerage, just like a real estate broker. You know, you get your own listings through your own business. You get paid a smaller commission, but it's 100% profit to the bottom line to Off The Hook. Brokers are all 1099. They don't get payroll, so we offer all the brokerage. Brokerage is a kind of a necessary evil. It's less margins, but 100% profit. Brokerage feeds wholesale. We get a lot of trades from brokerage. We like to touch every part of the boat-buying business, and those are each of our divisions. webuyboats.com, that's our lead generation site. We probably get 200-300 leads from that a week of people logging on saying, "Here's my boat. Here's the information. What's it worth?" We're in contact with them within an hour. We have Azure Funding. Azure is our finance arm. You gotta think of it as a F&I department, a car dealership. It offers financing for boats, but it also sells warranty, it sells insurance, and some other things that we're coming up with sometime in the near future here. We also have an auction site. Next slide, please. This is what makes us who we are. This company was started 13 years ago by a gentleman named Jason Ruegg. He started flipping boats in high school. By the time Jason got to college, he was studying to be an accountant, and he realized he was having more fun and making more money flipping boats. He started hiring his college roommates, and he got so busy that he couldn't handle it. He said, "In order to scale this business and make it worth something, I gotta create a system to be able to scale it instead of teaching everybody day by day how to price boats, sell boats, and buy boats." That's how our system was built 13 years ago. And it's been pumped full of tens of thousands of boat transactions, hundreds of thousands of offers on boats and boat buys and all that information is pumped into our system. Our system now is so good it keeps our buy team from making mistakes. We lose money on less than 10% of the boats that we buy. That's how accurate our system is. A lot of times we know we're gonna lose it 'cause we're doing a favor for a company like RE/MAX, which is one of our biggest customers. They come to us and say, "You know, you gotta take a small trade here, a skinny trade. You might lose a little on this trade," but we know we can make it up on the next five deals we do with them, so we do it. On the buy side, the system's gotten so smart, it actually connects the dots between buyers and sellers. If we're even bidding a boat out there on the system, it'll immediately go through the system and find a broker that has a customer looking for a similar boat, and it'll ping that broker, so we don't miss the sale or miss the lead and say, "Hey, this boat's coming on board. Your client is looking for a similar boat. Show them this boat for these reasons, and this is why." The system's gotten really smart, and this is why we are who we are. This is why we can turn our inventory five times a year, and this is why we pretty much have no competition. We have some mom and pops that pop up here and there, but without a used boat floor plan the size we have, which I'm gonna get into shortly, and without our system, it's almost impossible to do what we do. Next slide, please. This just talks about AI. We have version two of our system coming out shortly that's a lot better than our first system. It's got a lot more AI embedded in it. I'm not gonna get into it too much, but it makes it more automated. Everything we do is pretty much manual now, but now there's, like, automated sell bots and things like that, so brokers can talk into their phones instead of having to type everything in and not lose information. That system's coming out shortly. All right. Next slide, please. This just talks about Boats N' Buyers. It's our auction site. It's got, you know, 2,000 users on it. It's new. It's still getting out there and more and more users every day. We plan on, you know, kind of working on this and get it going. It's another avenue that people, if they don't wanna wholesale, if they don't wanna broker their boat, then they can list it for auction and try and sell it that way. Next slide, please. Azure is our finance arm. I touched on this earlier. Azure is a very important part of our business. As a CEO, as I look at the business, you know, we show 9% net margins. It's a wholesale business. How do you increase those margins? Azure is a big part of that, right? Azure sells all those things like warranty, insurance, prepaid maintenance, which we'll get into, financing, all that stuff. We make about average of $0.50 profit margins on it, and that goes right to our bottom line, so that greatly increases our profit margin. Azure is something that definitely focuses on as we move into 2026. Next slide, please. I'm gonna step back and talk about our IPO. We went public on the New York Stock Exchange about four months ago. We started trading November 14th. We went public for one reason, and that was to increase our floor plan. Our floor plan is a line of credit that you have to buy used boats with. Pre-IPO, we had a $25 million floor plan. That means we had $25 million to buy boats with. There's probably 3,000 dealers out there in the United States, and we did business with maybe 75 of them. Not that we couldn't. We're kind of the Manheim of boats from the car industry. It's just we didn't have the capital to do it. We went public. The main reason we went public, which we've done, is to increase our floor plan. We, you know, did a $50 million IPO. Our floor plan, if you look at our press three weeks ago, it just got increased to $60 million. Now we have double the buying power that we had pre-IPO. That floor plan just kicked in, so I wanna make that very clear. You know, our earnings are due out in the next couple weeks. When we talk about those earnings, those earnings will not include this new floor plan because we just got it three weeks ago, and it will also not include the acquisition we just did as well. We accomplished what we wanted to set out for our IPO. We got the capital raised, and we increased our floor plan. Very excited to see what the next couple quarters look like with the new increased floor plan. The second part of our business is brokers. Brokers in the boat business are just like brokers in the real estate business. They're 1099. It's pretty much their own business. They get paid on transactions they do, basically. What do we do to increase the business, to scale the business? This is what I looked at when I did it, is, one, you increase the floor plan, you have more buying power to buy more boats, and two, you increase the amount of brokers that you have, to sell the boats on the other side of that platform. That's exactly what we've done since our IPO came out, you know, less than four months ago. Floor plan's now at $60 million. We had about 32 brokers when we started on our roadshow. I'm pretty sure I'm gonna call it 80, but I think we're getting close to 100 with the people we have coming on. Greatly increased our buying power as well. Those are the two avenues. The reason we went public is to be able to scale more, get our floor plan up so we can buy more boats that the brokers that we're recruiting have to sell. Next slide, please. Yeah, we have a competitive advantage for brokers. You know, just like real estate brokers, they don't really get anything from the companies they work for. They sign a contract just like they'd sign for us to sell for RE/MAX. That means they sign exclusive for RE/MAX but it's their business. They gotta find their own leads. They gotta find their own boats. They pay for their own advertising, all that stuff. We offer brokers so much more because the largest buyer and seller of used boats in the country, we can give them listings. We can finance their deals through Azure. We can take their trades 'cause that's what we do. We could give them stock as they perform. All these things that we can offer brokers is the reason why we've greatly increased our brokers from, you know, 30-something to 80-something over, you know, a four-month time period. We're very rapidly increasing our brokerage count. I can tell you that we could probably grow much faster broker-wise, but we are literally taking the top best brokers we can find, passing on a lot of brokers that aren't very well established and don't do big numbers. Next slide, please. Lead flow, webuyboats.com, we touched on that earlier. This is a great slide 'cause it shows the three ways that we try and keep a customer, right? Preferred is wholesale. Wholesale is when we buy a boat, we take a trade for a dealer. New boat dealers are set up to sell new boats. They have floor plans for new boats. Their salespeople are set up to sell their brands, and that's what they do. They're really not set up to take used boats. They don't have room on their lots for them. They don't have room in their service for them to do warranty work, or to even deal with used boats. MarineMax tried to do used boats for about six months and stopped doing it. It's just something special. It's a real niche and kind of without our system and without our used boat floor plan like we have, that's, it's very hard to duplicate. That's why we really have no competition. We do have some mom-and-pops that pop up here and there, but they usually don't last very long. Wholesale, that's our preferred way. We make about 20% margins on wholesale. That's when we take trades. Brokerage, we spoke about before. It's about 10% commission. Just split that between two brokers, but it's 100% profit to the bottom line. It also brings us lots of trades and then of course, auction. That's kinda how we get our boats in three ways. When we get a customer, we don't lose the customers. We give them three options on how to get rid of their boats, so they don't go anywhere else. Next slide, please. This is just the marketing slide you guys could read. It's all the typical stuff we do. We have a great marketing team in-house that's run by a guy named Kyle Gunther. He has done a fantastic job for us. Our main site is webuyboats.com, and we get an incredible amount of leads off of that because of Kyle's work, to a point where we had to hire another team just to answer and respond to him. That's how many leads we get. That's people that log on and say, "Hey, I'm interested in selling my boat." Within an hour, they'll be on the phone with a rep going through the boat, what it's worth, what they could do for it, and of course, talking about their next boat as well. Next slide, please. This is just a financial snapshot of it. I don't wanna get too much into this because our K is due out in two weeks, and I think that's important. I would encourage everybody on this call to make sure you get on that phone call. Our earnings calls are very good. They're very informative. I think, you know, once our K comes out, we'll be able to do a lot of different things. We're kind of waiting for our K to come out. Always profitable. You know, we show solid profit, even though we took a bunch of going public expenses and things like that. I'd encourage everybody if they really wanna talk about numbers, we could set up a phone call with Chad and walk through a model, or get on the earnings call. I would strongly suggest everybody does that. It'll be very informative for our numbers. Next slide, please. This is just a snapshot of the company, the executives. Next slide. I'm trying to get to the important stuff and question and answer 'cause I know a lot of people on this phone have heard this before. You know, these are our recent milestones. Like I said, we expanded. We did a deal with a big marine company in the Keys, Puerto Rico. I'm sorry, not the Keys, the Great Lakes, Puerto Rico, and the Caribbean. We got our floor plan, like I said. We announced it went from $25 million- $60 million. We got some national media coverage. We did our IPO. We partnered with flyExclusive to up our jet hours and transfer for people that give us their trades. Of course, there's a lot of earnings and operating updates that I'll give on the earnings call on our next call. Next slide, please. Yeah, you know, this isn't my favorite slide. It actually is my favorite slide. You know, like I said in the beginning, you really can't comp us to the other companies out there 'cause they're primarily brands and are new-boat-focused. We're totally different. You know, Carvana does used cars. We do used boats. They're a technology company. We're a technology company. They're virtual. We're even more virtual than they are. I think that's where the Carvana comp comes in. I think Carvana had a lot of hurdles to jump over as they expanded across the country. You know, had to be licensed in every state they were in, physical presence in every state they're in. We don't have any of those constraints. It's kind of the Wild West for us as we expand. Hopefully, we can get to 1%-2% of Carvana. It'd be fantastic. Next slide, please. That's it. This is our board, our officers. You guys don't wanna go through all that stuff. I just wanna point out again, I know I kind of went pretty quick here. I'm kind of sitting in an office on my cell phone trying to read this, and it's very small. You know, we set out to do some stuff with the IPO. Like I said, it was a 13-year-old company. Organic growth every year. It grew, you know, 10% every year, profitable for 13 years with no money. It really excited me to get involved with this company 'cause I knew by injecting with money, it would give it the tools to really scale and explode. We've accomplished everything we said we're gonna do with our IPO proceeds so far. We've expanded to two great regions. We made a great acquisition of Apex Marine that gave us five additional marina locations, which I'm gonna touch on in a minute. We've also increased our floor plan and did all the things we're set to do with our IPO proceeds. I wanna touch on the Apex acquisition. I know we did a webinar about this, you know, right after we announced it, and I walked through it, but it's very significant for us. I'm very excited to see not only how much money it generates in sales, but those five service centers, those five marinas are gonna save us a lot of money. We spend a tremendous amount of money servicing and storing boats just all over South Florida alone. These marinas will now be our homes where we can store our own boats, service our own boats, have everything in one spot. Very exciting to have service. A wise guy in the boat industry, his name's Andrew Simmons, he's one of our directors and head of new boat sales for us, you know, told me a very good thing that sits in my head every day. The salesperson sells the first boat, but your service sells boat two, three, four and five to the same customer." This Apex acquisition is so significant for us 'cause not only is it gonna save us a ton of money, like I said, not only is it gonna centralize our service and save us a ton of money on service, but it's gonna allow us to sell good boat brands because we're gonna have the best service around. When you give people the best service around, they're gonna come back to you every time. Really looking forward to the Apex acquisition. We haven't even closed yet on it, but I'm very excited about it. I spent a lot of time there. I spent a lot of time up in the Stuart location, the other day. It's fantastic. Because we have so many sales reps and so many things within Off The Hook, I think we're only gonna be able to add to the success that company's had. It's very exciting for me to do that. Looking forward to getting it closed and looking forward to see not only what it saves us in the future next quarters with maintenance and storage, but the additional revenues and some of the new boat brands they have and other things they're already doing. That's really all I have. I apologize it's kind of brief. I'm kind of shooting from the hip here today. We wanted to do this because I think we plan on doing on a monthly basis. I think, for a public company to have open, good communications with shareholders, with its public information is good, so we'll do these calls every month, and update you with any public information that happens within the month. Thank everybody for jumping on and I'm happy to try and answer any questions that anybody has. Thank you very much. Thank you. This is great. We've got a lot of questions for you already, Brian. Mm-hmm. We just remind our listeners, and we have hundreds of people who are following this on the X restream. First of all, please like, follow us please at RedChip. If you do have a question to our many X users, just use the link there that you're probably seeing right in front of you and join our webinar. Now I'm speaking to everybody on this webinar, use the Q&A button to produce a text box and then type in your question to reach Brian John of Off The Hook. First question, Brian. I noticed that Azure does aviation lending. Any thoughts of scaling this to used small planes? Yeah. We mentioned that in our original deck. Right now we're focused on boats, but we actually think that RVs are actually a good area to go from here. You know, we're just scratching the surface of the used boat market, so we got a ways to go before we worry about this. We have so many you know things planned and moving forward that I think it's a good idea, but if we were gonna do it'd probably be RVs first before small planes. It could be done. Brian, just out of curiosity, were you doing business with Apex prior to the acquisition, maybe for maintenance or storage? We do know Apex. The reason we got that deal and got such a great deal with it is because we've been buying boats from, used boats from Apex for a while. Not all of them like we'll be able to do now, but we certainly have been buying boats from them. Any boats that we had in the Miami area, that needed maintenance, we would use Apex services for that as well. But mostly in the Miami area only. That's kinda how we got introduced to the deal, 'cause they know us. We have a great buyer who started the company down with Jason. Actually went to college with Jason, who knows, the owner of Apex for a long time and has bought boats from him for a long time, and that's how we got introduced to the company. We know that your footprint here in Florida is huge. What about the West Coast, Brian? The West Coast of Florida or the West Coast of the United States? Well, that's interesting you mention the West Coast of Florida. You could also elaborate on that, but I think this person meant the West Coast of the United States. Yeah. You know, we're up and down the East Coast now. We have a good footprint. You know, we just expanded to the Great Lakes. We just expanded to Puerto Rico and into the Caribbean. We plan to keep expanding. There's so many areas to go. You don't even think about places like, you know, Kentucky. There's Great Lakes in Kentucky with people with boats all over them. Even the Great Lakes, they're like oceans up there, and there's areas we don't even touch yet. It's only so fast we can grow and scale. I think we're very strategically kinda staying East Coast and slowly creeping across the state. I think we'll eventually get to California, but I don't think it'll be, you know, this year. Sorry, I was muted. That's all right. What kind of trends have you been seeing in used boat sales, Brian? Are there particular models that have been trending? No, I don't think there's particular models that have been trending. I will say that, you know, our sweet spot, you know, we make great margins on kinda mostly wholesale boats, as I said earlier. Our sweet spot's probably boats between $300,000 and $500,000. Those larger center consoles that are a year or two old, you know, we can turn and burn those very rapidly with very little risk. That's kind of our sweet spot where we like to be. Of course, with our Autograph Yacht guys, you know, those guys specialize for years in selling $500,000-$20 million boats, and that's kinda what they specialize in. Off The Hook's specialty, if you would talk about our sales force, is boats, you know, between $300,000 and $500,000, bigger center consoles. We could turn and burn those all day long with little risk. If you have a question, please click the Q&A button at the bottom of your Zoom window. Type your question into the text box and then Brian John of Off The Hook will answer the question. Give everyone a moment or two to think of any more questions for Brian. Brian, do you do any reconditioning of boats? We do, and I think we're gonna do a lot more of it. That was part of the Apex acquisition. They have, you know, very well-known service centers. You know, the location just down in Miami, and there's five. The two biggest are Miami and Stuart, so it's kind of separated up and down the state into Palm Beach County, actually Martin County. The Miami location services, there's an ice building basically on the property. When I'm down there's always, you know, Miami-Dade Fire Rescue Department boats, Miami-Dade Police Department boats. They service all the government agencies down there, everybody down there, 'cause they're known for their service. Obviously we wanna increase that and we wanna be known for that, right? Like I said earlier, the salesperson sells the first boat, service sells the second, third, and fourth boat. We're gonna concentrate on being the best service around. Apex has a great reputation. Been around for a long time, and that's why we did the first acquisition with them. Thank you very much, Brian. For more information about Off The Hook, reach us at 1-800-REDCHIP or email us at oth@redchip.com. Please visit RedChip's investor information page for Off The Hook. It's othinfo.com. There you can view and download the investor presentation and fact sheet and sign up for news alerts on Off The Hook. Please watch Small Stocks, Big Money, RedChip's program featuring exciting small-cap companies on Bloomberg Television every Saturday night at 7:00 P.M. Join RedChip's next webinar with ASP Isotopes on Tuesday, March 17th at 4:15 P.M. U.S. Eastern. Register for all RedChip webinars at redchip.com/events. Thanks to our many participants today, and thanks again, Brian. Thank you, everybody.