Good afternoon, and welcome to Stardust Power Inc.'s Q1 2026 earnings call. My name is Tawanda, and I'll be your operator today. Before this call, Stardust Power issued its financial results for the quarter ending March 31st, 2026. Joining us on today's call are Stardust Power's Founder and CEO, Roshan Pujari, and CFO, Uday Devasper. Following their remarks, we will open the call for questions. Before we begin, Johanna Gonzalez, Stardust Power Director of Investor Relations and Communications, will make a brief introductory statement. Ms. Gonzalez, please proceed. Thank you, operator, and good afternoon, everyone. Before management begins their formal remarks today, we would like to remind everyone that some statements we're making today may be considered forward-looking statements under securities laws and involve a number of risks and uncertainties. As a result, we caution you that there are a number of factors, many of which are beyond our control, which could cause actual results, outcomes, and events, and the timings of such results, outcomes, and events to differ materially from those described in the forward-looking statements. For more detailed risks, uncertainties and assumptions relating to our forward-looking statements, please see the disclosures in our earnings release and public filings made with the SEC. We disclaim any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. We refer you to our filings with the SEC for detailed disclosures and descriptions of our business, as well as uncertainties and other variable circumstances, including, but not limited to, risks and uncertainties identified under the caption Risk Factors in our recent filings. You may get Stardust Power's SEC filings by visiting the SEC's website at www.sec.gov. I would like to remind everyone this call is being recorded and will be made available for replay via a link available in the investor relations section of Stardust Power's website. Now, I will turn the call over to Stardust Power CEO, Roshan Pujari. Thank you, Johanna, thank you everyone for joining us today. Q1 marks a clear transition for Stardust Power from materially de-risking the project to advancing financing and execution. The core dynamic hasn't changed. The constraint in the U.S. lithium supply chain is not resource availability, it's refining capacity. That's the critical gap our Muskogee refinery will address. Let me briefly frame where we are today. The project is now advanced across key areas that matter for financing and execution. From a permitting standpoint, we have received our air quality construction permit, which enables construction of the refinery to start once financed. This is a critical milestone that provides clarity on the regulatory path forward. On engineering, we have completed our FEL 3 study, which defines the technical scope, cost framework, and execution plan for the project. That work has also been supported by an independent third-party review, validating the design approach and overall project readiness. On the commercial side, we have advanced feedstock supply with multiple LOI agreements in place and ongoing discussions to further build out a diversified supply base. A strength of our model is to aggregate supply to limit dependence on single asset supply risk. From a site and infrastructure perspective, we have secured key elements required to support construction and operations, including utility support at our Muskogee location. Taken together, these milestones position the project to move into the next phase with a clear focus on financing and execution. With that context, let me highlight some of the key developments and work streams advanced during the quarter and into the subsequent period. During the quarter, we continued to advance the Muskogee Lithium Refinery across financing, project development, and strategic positioning. A key milestone was securing our minor source air quality construction permit, representing the final major permit required for construction and commissioning to start alongside completion of FEL 3 engineering and third-party validation last year. The permit was only required to be a minor source permit, speaking to the limited emissions we shall produce. Our design does not require any smoke stacks. In parallel, we expanded our government engagement efforts in Washington, D.C., supporting our positioning within U.S. critical minerals and energy policy initiatives. We engaged Founders Group Policy to deepen our connectivity in the nation's capital, and we were invited to the White House to discuss our project and its role in supporting America's national security. We continue to engage constructively with key stakeholders, including government and industry partners. There remains strong alignment between our mission to onshore critical material processing and a number of available government-supported programs. We also made meaningful progress in capital formation. During the quarter, we secured access to up to $15 million in an equity financing facility, providing near-term flexibility as we advance broader funding efforts. Building on this, we announced a letter of intent with an institutional investor supporting up to $150 million in project-level financing. This represents an initial step in assembling the project's capital stack. This reinforces our strategy to structure financing at the asset level. We are aligning capital with the refinery while managing dilution at the public company level and supporting a transparent market-driven valuation. On the commercial side, we continued to advance our feedstock readiness and broader supply ecosystem. We entered into an LOI to secure up to 15,000 metric tons per annum of lithium chloride feedstock from a U.S.-based brine project in California. This meaningful step further strengthens our domestic supply pipeline and supports our hub-and-spoke sourcing model. Together, with other agreements already in place, establishes a clear pathway to supply phase one requirements and beyond. Our centrally located refinery, combined with established multimodal logistics, positions us to efficiently source feedstock from a wide range of geographies. In addition, we joined both the Cornerstone Consortium and the Lithium Regional Innovation Cluster, expanding our engagement across industry, government, and technology partners. The Cornerstone Consortium provides a direct pathway into U.S. Defense and National Security-focused supply chain initiatives. The Lithium Regional Innovation Cluster connects us with leading institutions advancing lithium processing, innovation, and commercialization. Together, these memberships strengthen our positioning as a leader of a more resilient and domestically anchored lithium ecosystem. Overall, these developments reflect clear momentum in de-risking the project, advancing both the capital stack and feedstock pipeline, and positioning Stardust Power as a key participant in the emerging domestic lithium refining ecosystem as we move toward major construction. Over the past quarter, we've continued to deepen our engagement across the Muskogee community and with key stakeholders at both the state and federal level. We were proud to support Muskogee Day at the Capitol, where local business leaders engaged directly with senior policymakers, and to participate in a roundtable with Senator Lankford's focused U.S. trade policy, global competitiveness, and the broader industrial landscape. These decisions are important as we continue to position the project within the context of the domestic supply chain development and evolving policy priorities. At the local level, we've remained actively engaged with the community and civic leadership in Muskogee. From participating in Leadership Muskogee's government session to co-sponsoring the Greater Muskogee Chamber's annual banquet, we're focused on building strong, long-term relationships in the region. We also had the opportunity to support the next generation through programs like Generation Citizen, where our team engaged with students working on community-based initiatives. These efforts reflect our broader approach of advancing the project while staying closely aligned with the communities and stakeholders that will be integral to its long-term success. Turning to financing, this is our primary focus as we move into the next phase of the project. Our strategy is clear. The majority of the capital required to construct the refinery is expected to be raised at the project level rather than the corporate level. This approach is designed to align capital with the asset, optimize the capital structure, and limit dilution for public shareholders. We are advancing discussions with a range of potential partners with the objective of bringing in a strategic partner who can reinforce project valuation and core commercial terms. From there, we expect to build broader financing through a combination of additional capital participation and syndication. By leveraging proven and established technology, the project is eligible for a higher debt component for project finance, ranging from 70%-80% of total funding needs. In parallel, we are engaging across multiple channels, including strategic investors, debt provider, and potential government-supported programs as we work to structure a balanced and durable capital stack. Throughout this process, we remain disciplined in our approach, focused on capital efficiency, alignment with long-term partners, and minimizing dilution at the corporate level. With key de-risking milestones now in place, we believe the project is well-positioned to advance these financing discussions. With that framework in place, let me turn to our near-term priorities as we move toward execution. Looking ahead, our priorities are clear and focused on execution. First, we are advancing project-level financing, which remains the key milestone to move the refinery into construction. In parallel, we are progressing EPC planning and detailed engineering work to ensure we are ready to move efficiently once financing is in place. On the commercial side, we continue to advance feedstock and potential offtake discussions to support long-term operational readiness. At the same time, we are preparing the site for construction with a focus on disciplined execution across schedule, cost, and overall project delivery. The path forward is well-defined, and our focus is on executing these milestones to move the project into its next phase of major construction. With that, I'll hand over to Uday Devasper, our CFO. Thank you, Roshan, good afternoon, everyone. Thank you for joining our earnings call for the Q1 2026 period. Before we begin, I want to clarify that we will not be providing forward-looking guidance or estimates during this call. Our focus will be on discussing our past performance and the current state of our business. We encourage you to refer to our filings with the SEC for more detailed information. During the quarter, we continued to strengthen our capital flexibility and liquidity position while maintaining a disciplined approach to cash and expense management. We entered into a $10 million synthetic ATM facility with B. Riley Principal Capital II, LLC, under which we drew approximately $1 million during and subsequent to the quarter end, providing us with efficient access to growth capital while minimizing dilution. In addition, subsequent to quarter end, our shelf registration statement on Form S-3 was declared effective by the SEC, further enhancing our financing flexibility and broadening our access to the capital markets. We also entered into a separate ATM program with B. Riley Securities, Inc. for up to $5 million, giving us an additional opportunistic funding mechanism as we execute on our strategic priorities. Importantly, throughout the quarter, we remain highly focused on aligning our spending with near-term operational milestones while preserving the flexibility needed to support long-term value creation for shareholders. Now turning to the financials for Q1 2026. The company remains pre-revenue as we continue to advance development of the Muskogee refinery. As previously disclosed, our ability to meet working capital and capital expenditure requirements over the next 12 months remains dependent on our ability to raise additional capital through equity, debt, or other financing sources. For the quarter ended March 31, 2026, or Q1 2026, net loss was $5.2 million compared to $3.8 million for the same period in the prior year, primarily driven by changes in the fair value of warrant liabilities and expense related to our Q4 2025 debt financing, partially offset by lower general and administrative expenses. Net cash used in operating activities totaled $2.1 million for the quarter, compared to $2.9 million in the prior year. Despite a higher reported net loss year-over-year, operating cash usage improved as a result of disciplined cost controls, favorable timing of working capital activity, and the impact of non-operating and non-cash items embedded within reported earnings. Net cash used in investing activities was $0.2 million for the quarter, compared to $1 million in the prior year. The year-over-year decrease reflects a more disciplined and phased deployment of capital as the project continues to advance through engineering validation, financing, and feedstock development milestones. With key de-risking activities substantially completed, including final major permitting and FEL 3 engineering work, our current investment profile is increasingly focused on targeted preconstruction and strategic development activities as we position the Muskogee Refinery for the next phase of execution. Net cash used in financing activities was insignificant at $4,000 for the current quarter, compared to $4.5 million provided in the prior year. The relatively flat financing cash flow this quarter reflects the strength of the capital foundation established through financings completed late last year, as well as the amounts raised through the B. Riley synthetic ATM facility mentioned above, which supported our liquidity position and reduced the need for incremental capital raises during the period. Overall, our financial results and cash flow this quarter reflect a disciplined and measured approach to advancing the Muskogee Refinery while maintaining focus on liquidity management and capital efficiency. We continue to prioritize expenditures tied directly to project de-risking, financing readiness, and long-term value creation. As we move into the next stage of development, we expect operating expenses to increase in a deliberate manner as we expand organizational capabilities, advance engineering and commercial activities, and position the project for major construction and execution. Importantly, we believe the milestones achieved during the quarter have further strengthened the foundation of the project and enhanced our strategic positioning within the domestic critical mineral supply chain. Looking ahead, our focus remains on disciplined capital allocation, maintaining financial flexibility, and advancing toward larger-scale project financing while positioning the company for its next phase of growth and execution. With that, I conclude my remarks. I will turn it back over to you, Roshan. Thank you, Uday. To close, we've done the work to materially de-risk the project. The focus now is on financing and moving into major construction. We believe we have the right asset at the right time and are addressing a clear and growing gap in the U.S. lithium supply chain. We have a team that is laser-focused on execution. We are advancing the project toward building a critical piece of U.S. infrastructure that can materially strengthen the domestic supply chain. The next key catalyst is straightforward, advancing financing of the refinery. Our focus is on execution. We believe that investing into the project, whether it is to further de-risk or prepare for major construction, is the best way to drive long-term shareholder value. The economics are clear. Producing up to 50,000 metric tons per annum with prices today around $28,500 is a clear recipe for value. Thank you for your continued support. We will now open the call for questions. Thank you. Ladies and gentlemen, to ask a question, please press star one one on your telephone, then wait for your name to be announced. To withdraw your question, please press star one one again. Please stand by while we compile the Q&A roster. I am showing no questions in the queue. Ladies and gentlemen, that concludes today's conference call. Thank you for your participation. You may now disconnect.