Good afternoon. Our next presenting company is Profire Energy, trades on the NASDAQ under the symbol PFIE. They've been a long-standing client of ours on the investor relations side, and I feel every quarter we're talking about new records for revenue and income. Needless to say, the company is, pardon the pun, and I'll steal it from Cam, they're firing on all cylinders. Here today to kick off the presentation, is Cameron Tidball, the company's Co-CEO, and with him here in the audience is Ryan Oviatt, the company's CFO and also Co-CEO. Cameron? Thank you, John. All right, big crowd. No, we appreciate and welcome everyone who's here. We're learning we don't wanna be the last ones or the second last, 'cause last year we did this one, it was pretty much 75% full. But that's okay. We appreciate you guys for being here. Makes a difference, and it is great to tell the Profire story. So because there's a small group here, feel free to ask any questions you want. We don't have to wait till the end. If you wanna ask questions, both Ryan and I are happy to do it. There's lots of room if you wanna come in. Ryan's back there, so if there's any questions I don't wanna answer because I hold the keys to the mic, I will give them to him. As stated by John, I'm Cameron Tidball. Ryan and I have been working in this business together now for close to a decade, which has been a great opportunity for us, and we've been in the co-CEO seat now for over four years. We came in right at the wonderful time of COVID. We're grateful for Three Part Advisors. We love our partnership with them, and so we thank them for giving us the opportunity to present. So I'm gonna run this clickity-do thing here. If I mess it up... Before we continue, we wanna call your attention to our safe harbor statement. We remind you that much of what we'll cover today is forward-looking information and should be treated as such. So for those who might be listening to the audio, we're gonna bring up a little video here, which we recently played on the NASDAQ tower. Kind of gives a little bit of what Profire does, but, so I'll play it next. There's no audio, so don't worry about your hearing. There we go, and all of our team members are that good-looking. Just kidding, so this video played on the NASDAQ tower, not this Tuesday we just had, but two Tuesdays ago, and the reason it was playing on the tower is because Profire. Our combustion's much cleaner than that flame, just so you know, but Profire just celebrated 10 years on the NASDAQ. So we had a bunch of our team members, many who had been with us for over 10 years, on our run on the NASDAQ, celebrating with their spouses and partners, that accomplishment. So Ryan and I got to press the button that rings the closing bell on the NASDAQ, which was a great opportunity for us. And really, if you look at a small cap company or micro cap company like Profire's, to be able to be successful, the balance sheet that we have, the markets that we've been able to open, it's a major accomplishment. We have been publicly traded for 16 years out of our 22-year history, but 6 years we're on the Pink Sheets. So why are you here today? And again, feel free to ask questions. You look at that video and you go, "I still don't get what you do." That might be the case, but we'll get to that. But a couple of things, like, I like to cover. So why Profire? Why are you here? Why should you even care? Really, the solutions that Profire engineers and develops are critical to the energy sector and the production of energy. Our combustion and burner management systems and safety control solutions are products that are gaining a lot of notoriety in new industries and new segments, new markets that we're focused on. We're a technology company that has primarily been focused on supporting OEMs in the upstream, midstream, energy sectors, as well as energy infrastructure operators, so your midstream plants, areas like that, as well as downstream natural gas, so the companies that bring natural gas to your home. So what do we really do? Well, we help them and enable them to run their thermal appliances that they use to heat oil and gas safely. So I will always use this analogy, and if you get bored of it, if you're a current shareholder, which Bill is, that's okay. It's a good way to give an analogy here. You think about your barbecue. Who here has a barbecue at their home? Okay. Is it Chad? You don't have one? Corey, you don't have a barbecue, but you're familiar with the concept of barbecuing. You've seen a couple. Okay, great. So that's easy. So if you were to light your barbecue the way we all do it when we first get our brand-new barbecue is we put a battery in the little piezo igniter, and we push a little button, ch-ch-ch-ch-ch. We turn on the gas, and woof, we hear a little woof, right? And on come the blue, beautiful flames, at least to begin. Well, after a year, seven months, a few rainstorms, that battery doesn't work, and all of us, I can say it in this room, we're all lazy men. We don't change the battery. We just get a lighter, little match or something, and we turn on the gas, and then we throw in the lighter or the match, and then we hear a little bigger woof, a little bit bigger, 'cause we get more gas in there. That barbecue is about forty thousand BTU, and that's still a lot of gas. But what Profire does is we work on industrial appliances that are minimum ten times that volume of gas, twenty times, thirty times. So we're talking one million BTU. We're talking a hundred million British thermal units of gas. You think about that volume of gas, and until Profire was on the scene mainstream over the last decade and a half, that is how those appliances were lit in the oil and gas market. They would light a rag and a stick, and they would turn on the gas, and well, it can work, and you can do it safely-ish, but we have, unfortunately, in the industry, oil and gas industry, there have been some catastrophic events where not only has equipment been damaged or destroyed, but people have lost their lives. Profire's technology enables the safe lighting and igniting of thermal appliances in many different industries, but as well as the precise temperature control, as well as emissions control, making them more efficient so that our operators can, one, bring in their families or their workers to work, have them be safe, and have their thermal appliances run all the time, which keeps production up, keeps our flow of energy going. Profire builds a really cool little box that goes on any appliance you can think of in the combustion world, and we automate it and make it safe. Since you've probably already gathered, and from a lot of our photography on our slides, you'll know that Profire is pro energy. We believe that hydrocarbons will continue to play a big part of how we move molecules and how we use energy and how we like to use the stuff we like to use for many years to come. We do not believe that peak oil will hit in twenty twenty-five as BP does. We do not believe that the IEA knows what they're talking about for the most part. We are more subscribed to the belief of that of some pretty reputable companies. You might have heard of Exxon. They believe that in twenty fifty, that hydrocarbons, not including coal, that oil and gas will still make up 66% of the need for or the production of energy, and that's with an increase of 2 billion in population. So right now, just so you know, oil and gas makes up 67%. Okay, there's a 1% decrease on a vastly bigger number. We believe there's still a long runway for oil and gas hydrocarbon use in our world, especially natural gas, as a not only a transitionary fuel, but a very good fuel for our world. Let's see here. We've been in business for twenty or twenty-two years, very stable company. We're coming off our best year in company history. We have last year achieved $58 million, just over $58 million in revenue, which was a 27% increase over the year before, which was our second-best year in company history. Prior to that, it's COVID, and we're all done with talking about COVID. 2024 is shaping up to be another great year for Profire. In our second quarter, we achieved our second-best quarter in company history at just over $15.2 million in revenue, and we had our top quarter in company history and service revenue, all while maintaining a very great margin of over 51%. Our products and solutions garner technology margins in oil and gas, as well as several other industries that we'll talk about as we go forward. Our gross margins are over 50%, EBITDA over 15% and higher, net margins over 10%, and we're executing on our strategy to derive revenue in new and exciting industries, such as petrochemical and chemical refining, power generation, biofuel and renewable fuel production, industrial heating and heat treating, as well as critical energy infrastructure, just to name a few. We're a stable company with a strong balance sheet, financial performance, proven management team. At least we feel we can say that. We've been working, really, Ryan and I, for nearly a decade together and have put together a team that we feel... Currently has over four hundred years of combined combustion experience, which is hard to beat in our markets of focus. By way of a quick thing, our vision is really focused on protecting people, critical equipment, improvement of workplace safety and satisfaction, really. Our user experience on our controls is, bar none, the best in the industry. We also care about protecting the environment. Profire engineers purpose-built, and performance-based automation solutions that our customers really, truly love to use. And I don't think they love to use them with emojis and things like that, but they love to use them because it makes their job easier, and it's one less thing they have to worry about, and then they go home safe to their family and friends. Our strategy that we've been executing on is really to focus on taking care of that legacy business, which I said until the last couple, three years, was really 99.99% of our business was oil and gas, and it was upstream oil and gas. Well, in the last three years, we've been able to diversify ourselves, but we still wanna take care of that. It's a great margin business. We believe there's a long runway. We have over, we believe, 85% market share. If you are a producer of oil and gas in North America, specifically United States and Canada, if you are buying a new piece of production equipment, we believe that nine out of ten times, it's coming out with a Profire product on it because we are that specified with end users, and we'll share some of our end users in a bit here. We're approaching nearly a hundred thousand burner management solutions sold, and the vast majority of them have been since 2010, coincidentally, when I started at Profire. We believe this industry remains critical, and that's why we focus on it. As global production continues to grow or the need for global production continues to grow, so will the demand for useful energy, and simply put, the stuff we all need and like to use. None of us in this room are probably consuming less energy than we used to. We want to have more stuff. We want to power more things, and as long as that continues, as long as humans in developing nations want that as well, which I think they do, we can see huge demand continuing. We believe that natural gas production is a critical element in balancing the world's energy needs and taking coal out of production, at least to a degree. We believe that global production for the supply of natural gas needs to more than double by 2050, and that's shared by sentiments from producers such as Shell. Now, on the right side, we also focus on. One of our strategic pillars is to focus on diversifying within oil and gas. We have the contacts, we have the technology, we have the expertise, so we have focused on those plants, like NGL plants, LPG plants, liquefied natural gas plants, gathering, processing, pipeline infrastructure. Four or five years ago, Profire did not really have a space, or a market share. Now, it has become a great growth engine for Profire and a growing business, for the future. We're continuing to win new and repeat business in this space. We're on track to beat our internal targets that we set this year, which does represent significant growth year over year. If we keep going here, some of our other strategic initiatives are, of course, to diversify new revenue streams into new industries. So when we say new industries, well, what are you doing? One of our shareholders today said, "Well, are you, are you selling Styrofoam cups? Are you selling baseball bats? What's your diversification?" No, we're leveraging our four hundred years of combustion experience. We're leveraging our technology, our service know-how, and we're taking it to industries that have thermal appliances, which makes a lot of sense. Now, those industries are served by companies such as like Honeywell, you've heard of them, or Siemens or Emerson or just small system integrators. Profire, with our technology, our solutions, our ability to deliver on projects, we're able to bring our products into those markets at a lower cost and actually at a much higher performance, from an end-to-end customer experience. We're also on track in our focus in this area to get to triple-digit growth year over year. Our first year of really focusing on diversified markets was 2021. 2022, we had a banner year, and we over tripled our business. 2024, we believe we have a good chance to do the same. So the industries we focus on in this space or how we're going to market here is direct. We're going direct with our sales team. We're also looking to expand our sales channels through partners that serve these different industries. For example, we're not gonna send our sales team to knock on every asphalt plant in the United States and Canada, but we might find a systems integrator who works in those areas. We have a research and development focus that is bringing us new products and new product ideas to bring into those new markets. And of course, we focus on people. We like to give where we live, and take care of our team members. They are the lifeblood. I'm gonna skip ESG, 'cause I don't think that's real anymore. No, it is real, but not as much as it was. We really fit in on the environmental side. Our products and solutions help our customers meet their environmental initiatives, and of course, from a safety and social perspective, we help as well. But I'm gonna skip that one. This clicker isn't my favorite. Where our products are used, you can see on this roadmap here, we're all across the value chain of energy, and we're moving more, if you look at the bottom right, on your side, into heated appliances such as industrial dryers, plant heaters, landfill and biogas, biofuel production, agricultural, power generation, lime plants, asphalt, air makeup, and mining. All those different appliances can be found in those industries. Now, this slide here kind of gives an idea of some of the industry diversification that we're starting to see success in. So on the top left, your side, you can see construction and infrastructure. So this, in this area, you're dealing with your companies that deal with aggregates, heating sand, making sand for different applications or cement or fly ash. We've done some of them. We've even done a snow-melting application for a municipality in Canada. On the agricultural side, there's dairies and feedlots that need to do something with this methane, especially the bigger ones' excess methane. We have a product and solution for them. Going down, you can see that we have landfills shown here. I think this has a little laser dewy. I'm not sure, actually. I won't push any buttons, just in case. But from a landfill perspective, there's a huge opportunity in the United States to do renewable natural gas production. So companies like BP have invested in buying Archaea Energy, which is the largest renewable natural gas producer in the United States, actually in the world. Profire has started to do business with them. Noble Environmental, which is another key player in that space, is also a Profire customer. Then you look down to, say, the bottom... I will go right in the middle: power generation. Power generation in the United States is gonna materially grow in the next half decade with their need to produce more electricity, and a lot of it's gonna come from natural gas. Profire is working with companies who use natural gas to power or to run the turbines that create electricity, and Profire is working with companies such as Cooper or Cooperative and many others. If we look at one of the diversification areas that we're focused on, I talked about it already, kind of bouncing around here a bit, is critical energy infrastructure. So again, this is the companies that take the hydrocarbon and actually do something with it so it can be used for our individual use. So, liquefied natural gas, for example, is one of them. But if you look at on this here is a small sample of some of the customers we're working with in this space, and then there are a variety of end users like DCP Midstream, Kinder Morgan, you'll have heard of TC Energy, Keyera, Enbridge. They're also very high on the future of hydrocarbons. And then the rest represent a lot of the OEMs who serve this market. So more and more, we believe that we have supplanted ourselves as really the preferred burner management and combustion management provider of choice and taken over this market from Honeywell. We know for a fact that Honeywell brings up Profire at their sales summits and asks, "Why is Profire beating us?" And this is the greatest thing 'cause we have a couple employees from Honeywell that came from there, and they still have their friends there, and it's probably one of the best compliments we can get is, "Why is a small company beating us?" And we're happy to do it. If we look in diversification in non-oil and gas, and this is again, a small sample, and we need to update this, but, we're really seeing a lot of opportunity in that biofuel production. So if you look at any company that can take biomass or landfill gas and turn it into something usable, this is all stuff. We're not getting rid of waste in our world, so we need to do something with it. But companies like Archaea, Kimble, Energy Water Solutions, for example, BIOFerm, they're doing something with this gas. There's OEMs in this space that Profire continues to work with and develop relationships. On the chemical side, if you listen to our Q2 earnings, we received a great purchase order from Trecora, which is a chemical company in Texas and Kansas, and we're going to have the opportunity to upgrade the first eight of their 42 heaters at one of their plants. And we look to deliver on that here in the next quarter in a bit. And if that all goes well, they have much more to do, and that's great because there's still 15997 chemical plants to go. So the TAM on chemical for Profire, we think is incredible. Let's skip and keep moving here. I'm gonna go... This is kind of our legacy business, kind of a snapshot of some of the customers. On that left-hand side there, you can see the end users in the petroleum space or the hydrocarbon production and exploration. Notable ones you'd see on there, like EQT, XTO, Chevron, ConocoPhillips, CNRL, some big names. If you are a major end user in the United States or Canada, the chances are you use Profire as your specified burner management. So the OEMs on this side here of the slide don't have a choice. They use Profire because the end user says they have to. Same with the E&I and Services group, which we work a lot with to make sure that they're trained and know how to install our products, 'cause we cannot install them all ourselves, don't want to. We wanna kinda balance that approach. Let's go to some of the, the key metrics. Currently, we're trading at about $1... Well, today was $1.81, so the slide was just updated, I think, two days ago, right? Right. So it's moved up here a little bit. They must have known we were coming to this, but, our market cap about $80 million. Our shareholder mix is quite healthy, 27% insiders, 47% are filing institutions, with the remainder considered consisting of retail traffic, as well as individuals who do not have to file, or firms that are not large enough to file. As of the June quarter, you can see we're trading at about 5.4x EBITDA. We think that's low for the type of company we are. From a financial performance perspective, as of the June quarter, our trailing 12-month performance equates to about $53 million -$54 million in revenue. As I stated, last year was higher, obviously, but this year we believe we're on track to meet or exceed last year's, but we'll see how the last two quarters go. We had nearly $9 million in net income, trailing twelve, and EPS at $0.18. Our EBITDA performance continues to be strong, nearly $11 million at 18.5% or 18.7%, and our cash position remains strong, which enables us to do some of the things we wanna do with respect to share buybacks. We're in the middle of a share buyback program right now. It's authorized up to 2 million, as well as potential M and A opportunities. The company remains debt-free. We've never had debt on the balance sheet. This is something that we're willing to do for the right opportunity, but currently do not have debt. In our opinion, we continue to trade at low multiples, given our performance and outlook of where the business is going, so we think it's Profire is the right time for a lot of people. Referencing the charts on the right-hand side here, you can see that 2022 and 2023 were strong years coming out of COVID. We're on pace to deliver another strong year in 2024 as our performance is tracking well. Now, if we go on a quarterly basis down here on the right, right now, as you can see, we kinda had a small dip there in the first quarter of 2024, but a nice recovery in the second quarter, and as we've stated, trending nicely for the remainder of the year. The last quarter, Q2, was our second-best quarter in company history, and as I mentioned, it was our top quarter for service revenue, which normally will have lower margins overall, but still, in that quarter, we were able to achieve strong overall margins of nearly 52%. EBITDA for Q2 was almost $3 million, with a margin nearly at 20%, and operating income was about $2.5 million. So we're proud of our ability to protect and even grow our margins. We have strong technology margins, and, we're very proud of that. If we look at some of the metrics... Well, we're running out of time, 'cause I wanna get to questions, but- Why do you attribute the share price about a year ago? Yeah, great question. So about a year ago, unsolicited by us, a fellow by the name of Louis Navellier got very interested in the Profire stock. He has a huge retail following. He put out a research paper that says, "This is an undervalued company," target price of, I can't remember, 250 or something, and, like, overnight, we shot up, and we're like, "Oh, this is great," but that's not normally the way we like to do it. We thought we were already on a nice trajectory and momentum. As you can see, our quarters were very strong coming out of COVID. We were getting great diversification results, but it just shot up, probably a little too fast. A lot of probably algos picked it up and just traded it like crazy, so great question. Now, if we look at. We've kind of already talked about Q2 financials. You can see our quarterly revenues here. Sometimes we get. Well, oftentimes we'll get asked, "What, what do you guys follow? How do you predict this business that you have, especially the legacy business?" And there's a lot of things we look at, so these are some of the tables that we'll follow. We will, we'll follow onshore rig count in Canada and the United States. We look at WTI and Henry Hub for natural gas. We look at state natural gas production and usage. We'll look at global inventories, E&P capital budgets, OPEC, you name it, pipeline capacity. We watch all these metrics, but more and more, as our business continues to evolve, as we continue to go down the path of diversification, it's gonna be more about industrial capital expense, will be trends and things to watch, but we're so in our infant stages towards our diversification markets. It's really early to tell. We also will look at DUC count, so drilled but uncompleted for our legacy business. You can see that DUCs are down quite a bit from their peak of 9,000, but there is still a lot of capacity in the United States to produce hydrocarbons. I wanna make sure we leave at least a few minutes here. I'll go right to here. So before we jump to questions, 'cause we'll go to specifics and anything you'd like, why, why do you care about Profire? You know, it's a great company. It's got a niche market. It's got... Really, for 125 people, having over 400 years of combustion experience combined is unheard of in our industry. We're growing rapidly in new industries. Our pipeline and prospects are growing. Our repeat business is strong. Our backlog currently, our open sales orders, is over 40% in diversified areas. We continue to invest in ourselves from a product and technology perspective. We care about R&D. We're gonna continue to invest in ourselves and buy our stock back if it's cheap, which it is, and we're going to use our cash for acquisitions. We continue to look for opportunities to grow the business organically and through acquisition. Margins are strong, balance sheet's strong, stable company. Kind of a feather in our cap after our last quarter, which again, was our second best in company history. We didn't have a big turnout to our shareholder call, and we were kind of like, "What the heck?" We thought we'd get a lot, but we got note after note after text after text from our shareholders saying, "Hey, we have... We don't worry about you guys. We have other things to take care of with our other investments right now, so great quarter. We'll talk to you later. Keep going." That feels pretty good to Ryan and I, to know that our shareholders trust us. We have a lot of loyal shareholders. As I said, almost 50% institutional have been with us for quite a while. So with that, we really appreciate your interest in Profire. We are always available for calls with management. Ryan and I are always available to jump on calls. The Three Part team is great at and helping us with that as well. But with that, let's jump to questions. We only have four minutes and 48 seconds left, so I'll throw it out there. Any questions? Uh- Bill. Yeah, the product line, it's 3,600. Can you do that for me? As you expand into these new diverse markets, is it the same product going in? Yeah, great question. So Bill, when you said 3,600, was that price point, or was- That was the burn hours. Oh, okay. Sorry, okay. Did I get the number wrong? You know, you- We talked about that. With Profire, you take a number, you do pretty good. We're very creative in our marketing. So we have on the top left of the screen here, you can see we've got controllers for natural draft burners. Well, we have the Profire 2100, which has been in existence for almost 15 years, which we're replacing with something in between the 2100 and the 2200, which is out on the market. So do the math and divide it by two, you'll get the name of the new product that's coming out. We have the Profire 3100, which is used in broader applications, multi-burner, forced draft applications, chemical plants, refineries, landfills, more complex. We have products for flares, incinerators, thermal oxidizers, and they're all built off a similar platform, all in different life cycles, of course. And then we have our combustion efficiency equipment, so our actual burners that we install, our air plates that regulate how much air gets into the combustion process. We have peripheral products down on the far left, fuel trains, and these are buy and resell products from manufacturers throughout the United States, Canada. We build full package solutions that are used on bigger burners. So, for example, right there, you've got something that's a lot bigger. That's probably, like, a four-inch pipe, and probably doing about 100 million BTU of gas probably into a big midstream plant facility that's used for fractionation. So we have a variety of product lines. So they leverage into all the controllers, leverage into all the different industries, which is great. The fuel trains, that's all based on pressure, volume of gas, control methodology, which again, our suppliers all have those things that we, we'll spec out with them. Did that answer, or do you want a second question, Bill? Yeah, it was. Yeah. So it's not so much engineered solutions? Yeah, so we don't- Off-the-shelf kind of thing. Yeah, when we say engineered, so the, it is off the shelf because it's baked in, it's safety approved, through UL or CSA, safety integrity level. We use functional safety in all of our design, which is something different than our competitors, sets us apart. So it's not that we have to engineer the actual control system. The engineering comes into, okay, Profire, I've got this thermal appliance, and it needs to do XYZ from a process perspective. How do I do that? Okay, well, it's this control with this IO that we'll bring into it, inputs, outputs. You need to put temperature here, you need to put pressure here, and you need to put temperature there, and you need to put ESD here, blah, blah, blah. And then it's helping them understand what do they want to run their heaters at from a temperature. So it's a lot of that type of thing, but it's putting together the documentation package, the control narratives. Those are engineering processes, which we're very good at, which we've automated many of it, so we can do a lot of projects with a small team. So that's the engineered side of it. But you're right, we don't, we don't customize the panel for every job. It's configured, which makes it a lot easier for us, yeah, and really for customers. Great question. Any others before we have 48 seconds left. All right. How many of you are shareholders here? Just a couple. Thank you, thank you. Okay. Well, for those, again, Ryan and I are always available to jump on calls. We love talking about Profire. We love... It's a great story, from our beginnings of a shared warehouse in Acheson, Alberta. If you know where that is, come see me, you win a prize. From a shared warehouse where our founder delivered controllers to the oil field in a Buick, to where we are today with offices in the United States and Utah, a new R&D facility in Canada with people in the Northeast, Texas, you know, from a company of two to 125, from a company of one customer to over four hundred and fifty and growing, is a great story, so we'd love to tell it anytime we can, so-