Okay, there we go. We are doing it, I guess. It is up. It looks fabulous. And yeah, we're moving it up to page 1. Excellent. We are ready to go, Jay, if you are ready to go. Yeah. So, Jay Madhu, CEO Chairman of Oxbridge. Oh, Jay. Jay, I'm so sorry. Before we start, just for legal reasons, we need to read the Safe Harbor, just real briefly. I do appreciate it. This segment 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 facts should also be considered forward-looking statements. Of course, forward-looking statements involve risks and uncertainties. Just before I let you start, Jay, this is Jay Madhu. This is Oxbridge Re Holdings' ticker, OXBR, on the Nasdaq. You have tuned in to today's RedChip FinTech and Digital Asset Treasury Virtual Investor Conference. We've been going since 9:30. We are going to wrap up at 4:00 P.M. today, Eastern Time. Now, Jay, I apologize. Please go right ahead. Yes, absolutely. Thank you for having me on. I'm going to do it slightly differently, right, as opposed to going through a number of different slides, which I think sometimes is fabulous, but at times doing what we're doing, it gets a little lost in the shuffle. I'll just talk about our business and just kind of go through that, and I'll flash a few slides as we go forward. Jay Madhu, CEO Chairman of Oxbridge. We're a Nasdaq-listed company. Ticker symbol is OXBR. My background is capital markets. I've been part of 5 companies that we've taken public, 3 on the New York Stock Exchange, 2 on the Nasdaq. The most notable of mine is a company called HCI Group. Ticker symbol is HCI, one of the founders of that company. We started that company about 19, 20 years ago. That's an insurance underwriter out of the state of Florida. We started that company with $10 million, took it public with another $10-$11 million capital raise the next year. So what started off as $2.50 today trades at about $160. That company is an insurance underwriter. It brings in over $1 billion in revenue, makes over $100 million in profit, 500 or 600 people that work for that company. Through that, we incubated another SaaS type of company, SaaS model company, in the insurance business. We incubated that for over 10 years, spun that out at a $2 billion valuation about 60-90 days ago. That company is called Exzeo. It's listed on the New York Stock Exchange. So background is capital markets, growth companies, started companies, done well with those. We are now on Oxbridge. Oxbridge is a reinsurance underwriter. We're based out of the Cayman Islands. What we have done over the last few years is we've taken a small twist with the way reinsurance is distributed world over. In our opinion, this is probably what's going to happen as it goes forward, right? We have a little bit of a first move advantage. So reinsurance, what is reinsurance? Reinsurance is basically insurance companies buying policies or buying reinsurance and laying off their risk to large institutions, Lloyd's of London, Berkshire Hathaway, those type of companies. We are one such company, but obviously much smaller. We are in the homeowners insurance/reinsurance business. What we have done over the last few years is we have taken something that has been going on in the world for decades the same way. We have moved it into the blockchain, into the blockchain space. So we've democratized opportunity, basically. What we've done is, as opposed to us putting only our capital to work and a select few folks are getting access to this opportunity, we have democratized it by taking other people's capital, putting it to work with ours, and putting that money into reinsurance contracts through our subsidiary called SurancePlus. SurancePlus is also out of the Cayman Islands. We take in outside capital, issue a tokenized security, and that, as we go forward, will be on the Solana blockchain. Bring in capital, issue a tokenized security, and the monies are then downstream to write reinsurance contracts. That's basically our business. We have democratized an opportunity that typically would take $10 million-$20 million of capital to get a seat at the table. We have democratized it by making it accessible to the general public. So anybody in any part of the world can log into our system, sign up, do their AML and KYC. That's paramount, right? We're publicly traded. You have to make sure AML and KYC is taken care of. Do their AML and KYC in close to three minutes, send in their monies, and now they have a seat at the table in a reinsurance contract that probably they would have never had an opportunity to do so. So I'll pause over there. We'll pull up some slides. We have a couple of different slides. And the reason I want to pull up the slide is because most of the time, people talk about this business is chaotic. They're so used to seeing they're so used to seeing social media and so on, and they show only the bad. But the reality, a tremendous amount of data exists, and you don't really have category threes or above all the time. Category three is 112 mile an hour winds, and 112 mile an hour winds is what does damage. So Drew, if you'd bring up one of the slides, please. The other one. This particular slide talks about hurricane history in the state of Florida. Why Florida? Because Florida has the most occurrences of category three or above hurricanes. And a category three is what does damage. So in this over here, since 1952, you'll notice we haven't had severe storms or severe hurricanes every single year. A few things have to happen. A, it needs to be a category three. It needs to make landfall. B, it needs to be 112 miles an hour in category three. And C, it needs to hit an area that is populated. Florida, we have a lot of population in Florida, but it's concentrated in various different spots. Majority of Florida is swampland. So since 1952, the numbers in orange over here talk about the number of hurricanes that have actually hit the state of Florida. So when you take a look at this particular slide, over the last you've seen a number of years nothing's happened. But then you do see some years you've had multiple hurricanes that have hit the state. So what I want to point out is 2023. So in 2023, we did have a Category 3 or above that hit the state of Florida, but we didn't have policies. We didn't have very many policies in that area. What happened was, while there was devastation, the third rule, which is it needs to be in a populated area, that didn't get taken care of over there, right? We targeted a 42% token in that particular year. We paid out a 49% return. Next slide, please. This particular slide talks about perception versus reality. Perception versus reality. Every year, Colorado State University comes up and they talk about the number of storms that are going to hit the state, the perception, right? As an example, last year, they expected 24 storms to hit the state of Florida, with three major storms hitting the state. Well, the reality is nothing happened. That was a fabulous win. Similarly, you see on this slide the number of years that they come up with various amounts of data as to the severity of the situation. But the reality is a Category 3 is what we should be looking at because in our business, that's what does damage. And in this particular case, in the state of Florida, Category 3 hurricane reinsurance, if it doesn't make landfall, if it doesn't make landfall as a Category 3, and if it doesn't make landfall in a populated area, it's an unfortunate situation. There will be some damage. But for our business purposes, it doesn't affect our reinsurance contracts. So we'll take the slides off and I'll just kind of talk through what we're doing now. The opportunity of what we're doing is reinsurance is a $700 billion TAM market. In this business, the majority of the folks, A, they don't know what reinsurance is. And the reason they don't know what reinsurance is is because they've never had an opportunity to buy it. Barrier to entry is significantly high. You need in excess of $10 million, $20 million to even get a seat at the table, to have access to it. But individuals don't need to buy it because anything to do with the word insurance, somebody buys it on their behalf. You get car insurance. Your car insurance company will buy reinsurance on their entire book. You buy homeowners insurance. Homeowners insurance company buys reinsurance on their entire books. Our business is investing in that elusive product of reinsurance. Over the last three years, we've taken a twist into the blockchain space. What does that mean? We've taken our business, which was done over the last several decades by a various number of companies, we've taken it to blockchain. We actually democratized it through Surance Plus. We give access to the general public world over to gain access and get into this investment directly alongside us, alongside a publicly traded company, square pegs and square holes. And what we do, what do square pegs and square holes mean? We write excess of loss reinsurance and the insurance, or pardon me, reinsurance and the reinsurance that we write, we write one to one. We don't put on we don't put any leverage on this. We take actual reinsurance risk. People sending in their monies, put that money, it's a hedge fund model, right? So you put your money alongside ours. We turn around, write reinsurance risk. And at the end of one year, the reason one year is because reinsurance contracts are all one year. At the end of one year, we pay out that return based on the experience of the contract. Last year was our first year where we issued two tokens, one targeted a 42% return, a second one targeted a 20% return. Both of them worked out really well. Reinsurance season is June 1 to May 31st of the following year. However, reinsurance season is May 1 to November 30th. Well, we're well past that November 30th season, right? This timeline. So no hurricanes. It's turned out really well. The 20% is tracking about a 25% return. The 42% is tracking a little north of 42%. So as we go forward, we look to grow this opportunity in two ways. A, we look to getting more people involved and bringing in capital and putting it to work and giving them access to this elusive opportunity. And instead of putting in $10 million, $20 million bucks, someone can put in as little as $5,000. Log in, AML, KYC, send in their monies, and they're live, right? That's the premise under what we're doing. This year, we are moving on to the Solana network. The reason we're moving on to the Solana network is because the opportunity to grow that opportunity for us as Surance Plus is higher because there are several more dApps in the Solana ecosystem. And the thought process is there is an opportunity for Solana dApps or anybody investing in the Solana ecosystem to take a small piece of our opportunity, to invest in reinsurance contracts in the RWA of reinsurance that is now going to be done on Solana, on the Solana chain. And they can pick. Do they want the 20% track of returns or are they looking for the 42% track, right? It's all about what somebody wants to do in their portfolio. So we're very excited about what's going on. We're rolling this thing out. We actually just rolled it out. We haven't made an announcement, but it's all up there. We'll be making this announcement here soon by the end of the day. Actually, sorry, take it back. We've already done that. We will be rolling this out to anybody that has interest, provided AML and KYC is taken care of. They can now invest in reinsurance contracts, the RWA, through a publicly traded company. And this is all online, AML, KYC on blockchain rails. So I'll pause over there and turn it over for questions from yourself. Yes. Thank you, Jay. Thank you for that great presentation. As Jay said, we aren't taking your questions now. We are taking your questions now. If you have a question, click the Q&A button at the bottom of your Zoom window and type in your question. Many have already done so, Jay. I've got one here for you. Can you summarize Oxbridge's business model in simple terms and how the reinsurance business and Assurance Plus fit together? Yes, absolutely. So Oxbridge is publicly traded. Oxbridge, through its subsidiary, the reinsurance subsidiary, is in the business of writing and underwriting risk in the reinsurance space. SurancePlus, the subsidiary of the holding company, takes that risk and makes it available to a diverse group of folks, provided AML and KYC is taken care of. And it democratizes it, puts it out over there, makes it available in smaller increments. So while Oxbridge or its reinsurance company is the risk taker, SurancePlus is what allows folks to invest in that conduit. Jay, what are the top priorities for the next 12 months and what milestones should investors watch to measure your progress? We're calling this Assurance Plus 3.0. So Assurance Plus 3.0, we're doing everything that we have continued to do in the past, which is writing reinsurance. All we've done is we have moved it forward in a very elegant way, right? So Assurance Plus, initially, Oxbridge Re Wrendon Timothy was writing reinsurance contracts. We took our capital, we put it to work, and we made a return off of that. We rolled out Assurance Plus. Assurance Plus democratized that opportunity and put it on chain. This year, we're excited about rolling this out on the Solana ecosystem, but in two ways. We're going into year two of our tokenized opportunity, which is the 42% return and the 20% return. Very excited about that because the way we are doing this is we have tied up with a company called Alpha Ledger, phenomenal guys. Solana actually has an investment in Alpha Ledger. So we have a lot of commitment from that Solana ecosystem through them, as well as others. What are the biggest strengths that differentiate you in the reinsurance market today? Reinsurance is a $700 billion TAM market, right? It's a huge, huge market. To put that into perspective, the stablecoin business is about $250 billion. What we are doing is we're not trying to reinvent the wheel. We're not trying to reinvent reinsurance. All we're trying to do is change the way this asset as a security is distributed and made available to more folks. I keep coming back to the square pegs and square holes, right? AML, KYC is paramount. Clarity is paramount. Security is paramount. The other opportunity is availability. Most folks can't write that $10 million check, but they can write a $5,000 check. They need to make sure wherever they're sending their money, A, it's secure, it's safe, and all the various different square pegs and square holes are taken care of. But they need to make sure that if they're writing or if they're investing in reinsurance, these reinsurance contracts that we write are called excess of loss, which means they take direct reinsurance risk in insurance companies, right? So we're not writing parametric risk. We're not doing any derivatives. What we're doing is rifle shots. We're taking rifle shots into reinsurance contracts like the large boys, right? Lloyd's of London, Berkshire Hathaway, that's exactly what they do. And this is exactly what we're doing. We're just changing it and making it available to a broader audience. This person wants to know, where are you seeing the best opportunities to write attractive risk-adjusted businesses in this renewal cycle? So that's actually a really interesting question. It's very complex. It's a very simple question, but it's a very complex answer. And I'm going to try to sum it up. The reinsurance contracts that we write are centered around the Southeast region of Florida. Majority of our business is in the state of Florida. The reason we do that is because we understand the state of Florida. We're a small company, right? We're not a massive multibillion-dollar company. We're a small company. So as a small company, we take a look and we can pick and choose where we want to go, right? Opportunistic. One would say you should probably write business all over the world because then you'll have dispersion. You'll have stuff in the Far East. You'll have stuff in Europe. You'll have stuff all over the U.S. and across all the way to California. There's an argument to be made for that. But the counterargument for that is what we have lived and seen and gone through it. So in the past, we looked at having massive dispersion all over the world. That particular year, we had tsunamis in Japan. We had winter snowstorms in Europe. We had a hurricane in Florida. And then we had wildfires in California. Absolutely catastrophic. So what we did from there is we said, stick to your knitting. We understand the state of Florida. Florida is the 14th largest economy in the world. We understand that space. We've been in that space for the last 20 years through my background with the other insurance underwriter. And we understand the players. We understand the way things are done, etc., etc. So we now write only the state of Florida, with the majority of our business being the state of Florida and some in the Southeast. In terms of dispersion, we think the opportunity lies in Florida. Why Florida? Because in terms of risk-reward, Florida contracts for more than one reason are priced at the highest, right? So you have various different reasons as why pricing would go. But that's a really, really long conversation. We won't get into that. We'll just go and say Florida has the highest pricing that's afforded to reinsurance. To put that into perspective, $0.45 out of every $1 an insurance company takes in goes towards paying reinsurance. It's the single largest expense item. And that's the business we're in, right? That $0.45 goes to paying companies such as us. So the opportunity, in my opinion, is Florida hurricane risk or Florida peril risk. Doing it the way we do it, we not only democratize it, but we give folks access to an asset class they've never had an opportunity to get into because, A, you can't buy it. You don't need to buy it. The barrier to entry is so high. But through strict compliance and transparency through our company and again, we don't put leverage on this. This is written one-to-one. Someone has access. Their money's coming alongside ours. And we write this. So where's the opportunity? Florida, Florida reinsurance. How does the fully collateralized structure improve risk management and help you compete for business? Fully collateralized means if we take on a contract for $10 million, we need to put up that amount of whatever our exposure is into that contract. We have to put it up in cash. That's a fully collateralized contract. So we write contracts. We put up cash in order to take care of any liabilities that would extend from that. That money is put into trust accounts. So currently, they're put into large U.S. institutions. And I say U.S. institutions because I want to, again, give folks the sleep at night kind of thing. These are large institutions, U.S. institutions, that money's going to. So the collateral goes into, let's say, Truist. Currently, we're with Truist. The money stays in Truist's account. They take care. The money's going over here. And at the end of the year, the experience is paid out. So writing reinsurance as a collateralized reinsurer gives us a seat at the table because there are various different parties that write it on a rating. But with a rating alone and not actual cash backing it up, you have counterparty risk, right? So things could potentially go wrong. And they've gone wrong in the past. I'm not saying it'll always go wrong. Very rarely things go wrong. And when they do go wrong, they go wrong in a bad way. So as a fully collateralized reinsurer, we get not only do we get a seat at the table being the size that we are, but we also have an opportunity to write some solid contracts because we have de-risked that reinsurance contract. We are not writing this with a rating. We are actually putting up cash. So being a collateralized reinsurer gives us the opportunity not only to get solid contracts, but also gives us an opportunity to look at things that most people potentially may not have had an opportunity to get at. Jay, what does a high-quality book look like for Oxbridge? How are you improving the mix over time? High-quality book would be saying a book of business that we should not ever have to pay out on. That's a high-quality book. But again, unfortunately, that book doesn't exist. And if it did exist, we would not exist because people wouldn't have needed our services. So a high-quality book actually exists where the risk is carefully underwritten and thought through. The risk is dispersed. So in the state, what does that mean? I just talked about dispersion. We don't want dispersed. The kind of contracts we're writing is in the state of Florida. So the contracts that we write, we make sure our cedants or the companies we are reinsuring, they have a dispersed risk throughout the state, right? They don't have heavy concentrations in certain areas. That in itself is somewhat hard to do because when you take a look at the Florida population, you have pockets in where people are, right? So you have in the south, you have Miami-Dade area. Then you have Naples and so on. Then you have various different places above. Above Naples, you have Tampa Bay. And then you go down to the Panhandle and so on. So these are concentrated risks, as we see. But even in concentrated risk, you need to make sure that the business that you're writing is well dispersed. So even though a company has risks in all these areas, you want to make sure they don't have heavy concentrations in one certain area. So a good book, A, it looks like a company that we are reinsuring that has dispersed risk in the state of Florida. B, the type of risk that they're writing, we underwrite that heavily because we take a look at a tremendous number of data points on a book of business, right? And part of that data point also is the construction of the actual rooftop. It's a serious science. So we take a look and make sure that their book meets our strict guidelines. So a good book of business, what does success look like? Dispersion, quality underwriting. We're careful with who we write because we want to make the size of business we are. We have that ability to do that, right? So quality of business, the companies we're writing business under, those are all key criteria for our underwriting. What are the clearest drivers of book value growth that you are expecting over the next four quarters? Growing SurancePlus. So SurancePlus, we have SurancePlus is a unique area that we're sitting in, right? So A, we can continue to grow SurancePlus. And we are moving steadfastly towards doing that. The other opportunity is SurancePlus is a subsidiary of Oxbridge. SurancePlus sits under the Hold Co. The Hold Co is publicly traded. We have SurancePlus as one of its subsidiaries. So SurancePlus has two years of PCAOB-audited financials. And I say this because in order for a company to potentially spin out or go public, you need two years of PCAOB-audited financials. SurancePlus has that as a standalone company. So as we grow forward, we look forward to growing SurancePlus. Potentially, at some point, and hopefully, it's a very close point, is to spin SurancePlus out as its own publicly traded entity, thus decoupling it from our legacy business because everything that we're doing in the reinsurance space has completely morphed over the last four years from what we were doing, how we were doing it, including the type of business that we're underwriting. Very different. As we go forward, we look forward to doing new and unique and interesting things with SurancePlus. Finally, Jay, what near-term announcements or deliverables should we be looking out for in the reasonable future? Near-term announcements, I can't get into detail until we actually put those out, right? But I've alluded to a few of these over here in the growth of Assurance Plus and the growth of Oxbridge. We've done various different things in Oxbridge to make sure that we can take advantage of opportunities going forward. So we're in that type of conversation over here this whole day. We have done various different things to make sure if we ever pursued a DAT strategy, we have everything set up for something like that. If that same DAT strategy was to morph into an AI type of strategy, we could do that too, right? And all of what I'm telling you is out there in the public. Everything we've done is out there in the public. So Oxbridge has a tremendous number of opportunities as a holding company, as a publicly traded holding company. We've done various things. Assurance Plus, as a subsidiary, also has a number of opportunities, not only in growth, but spinoff, etc. So pivotal time for Oxbridge. Very interesting time. And we're excited. Well said and right within our limit. Jay, thank you very much for showing us Oxbridge. That's Oxbridge Holdings. And if you want more information about Oxbridge, call us at 1-800-REDCHIP or email us at O-X-B-R. Jay, thank you again. And I look forward to working with you again in the near future. Thank you for having me on. Appreciate it. Bye now. Our next presenter is Sam Tabar.