Welcome back, everyone. Next, we have ZenaTech, Inc., trades on the NASDAQ under the symbol ZENA. It's a technology company that specializes in AI autonomy drone platforms to transform industrial, government, and defense sectors, whose subsidiaries include drone manufacturing through ZenaDrone, a global Drone as a Service business, and a separate enterprise division of multiple software brands. Happy to welcome Vice President of Corporate Development, Linda Montgomery, and we'll also see CFO Jim Sherman on the call. Nice to see you, Linda. We're looking forward to hearing your presentation. Thank you very much. We're going to have no technical difficulties this time. I just know it. Welcome, everybody. Thank you very much for your interest in our company. I'm going to take you through approximately 15 minutes or so, just a quick overview of our company. Our CFO will be joining us, and we'll answer a couple of questions as well. Starting off, we are a drone company. We basically have three divisions. We design and manufacture AI autonomous multifunction drones for business and for government and for defense markets. We also have a growing Drone as a Service business, and I will tell you more about that. Just as it sounds, we're providing drone services. We're making it easy to use drones for land surveys and inspections in a service, like a Software as a Service sort of model. Finally, we have an enterprise SaaS division, which is really important because we have 12 different brands, not really connected. Maybe a couple are connected to our drone business, but it's really important skill set that we like to retain within our company that we use across our divisions and solutions. We have operations pretty globally, based in North America, also in Europe, Asia. We manufacture in UAE, in addition to we're building a manufacturing facility in Arizona. We do component parts through our own company that we have in Taiwan. That all part of being NDAA compliant for doing business with the U.S. military. I think a lot of you are familiar with us. We've been a public company for a year and a half already and listed on NASDAQ. Looking at just the highlights, with our company, the investment highlights include the fact that the AI-driven drone automation growth is quite prevalent and pretty massive. If you look at a lot of market research numbers over the next few years, there's obvious reasons that this new automation that we are able to get through drones. We have a lot of regulatory changes that are happening. It's kind of an inflection point for drones. One of the key investment highlights. We are building a scalable, vertically integrated AI autonomy platform with Drone as a Service. This, of course, higher recurring revenue, higher lifetime value with this kind of model that we're going to leverage, and we are certainly positioning for this through doing acquisitions of a lot of under-digitized companies and including our drones in the workflows to be able to create margin and create leverage through this platform that we're building. We are positioned for defense markets, so we are really a revenue-generating commercial drone company with a defense upside. We are very focused on those markets. They do take a little bit longer. We have this enterprise SaaS/Software business also. Of course, we have pretty good recurring revenues from that business that just helps us across our total revenue side of things. Here's our cap table. We've been in business since about 2017, and we've come a long way since then from a private company with just software business, like multiple software businesses, to turning the corner last year to become a drone company through Drone as a Service. I mentioned we're around the world. Here's our growing list of locations. We have a number of corporate locations, our manufacturing, and then Drone as a Service is helping us add to our presence around the world. We're in 10 U.S. states at the moment, in Australia, in Ireland, Dubai, and in the U.K. and Canada. Of course, our revenue streams, enterprise SaaS, that you're all familiar with. Drone as a Service, which is sort of drone services in a SaaS model in a lot of ways. We're selling our drones specifically to markets like defense. We have an indoor drone for inventory management that reads barcodes, and we're focused on a number of different industries, focused on the warehousing and logistics automation side there. We recently announced our 2025 results, and our revenue was $13 million last year. This was a 10 or $10 million of that was primarily our drone services. We really made the transition to a drone company. Our revenue for all of 2024 was $2 million, and that was all software. We are certainly a fast-growing company and experiencing some tremendous growth. Even more recently, we did our Q1 results, and our revenue for the first quarter of 2026 was $8.4 million, and that was an even higher, 640% increase. Our drone segment increased from about 80% of our revenue to 93%. Of course, as we do these acquisitions, we are continuing to expand our total assets, and we ended the quarter with $15 million of cash and marketable securities. This is all helping us to expand our business and our acquisitions as well. Just some of the highlights and things that we're really working on. As I mentioned, we've done 20 acquisitions right now in total of land survey engineering companies. We're building this platform that includes land survey services and with improved speed and precision using drones for that, as well as inspections such as for solar infrastructure, power line inspections, but also for power washing using our drones as well. We continue to expand that, and defense is something we're very much focused on, and we've recently expanded our product line to Counter-UAS solutions. All of our manufacturing facilities are growing. R&D is very important to our company too, so we have a team of 20 people looking at next-generation solutions, including drone swarms, wildfire solutions, how we can use drones for weather forecasting, for instance. Of course, drones with all this real-time information, and in a swarm of drones, this really is a lot of data. We're starting to explore quantum computing, and how that comes into being able to provide these drone solutions as well. A little bit more detail on our defense business. We've done Navy and Air Force pilots already. As I mentioned, NDAA is very important to us. One of the key things that we've been doing is focused on getting Blue UAS certification. We have three of our drones in that process. That's what we need to be on the procurement list for the U.S. government and U.S. defense agencies. It's a multi-month process that we are involved in to get that. We've been engaging with program managers across various agencies, government departments for the better part of a year now, focused on key solutions. We're looking for demos and pilots is how you usually start this, then leading to contracts. We have a couple of solutions, like our cargo drone is one we think could be very useful as well as our inventory management solution. Of course, we're in a growing market. Don't need to explain any of that. I'm sure you all know how fast the drone marketplace is growing. We're really focused and, of course, the defense opportunity is quite large as well. You've all seen the announcements that the government has put forth about the size of budgets that's being put towards UAS or drone services over the past year. Over and above, we've had a lot of really historic policy directives. We're at a year anniversary of some of those big ones that happened in the summer of last year, like the Drone Dominance that came forward. We want to be, I guess, one of those 31 Blue UAS certified drone companies. There's only 31 of them as of recently, so it's a small group of drone manufacturers we'd like to be part of. Here's our drones. We have a number of them that have been in progress for a long time. This is the ZenaDrone 1000. It's a medium-sized, heavy-lift cargo drone. It has a compartment inside that can carry up to 40 kilos. We think that this drone is going to be great, particularly for the military, for carrying medical supplies. That compartment can be refrigerated, so blood, for instance. That's a very important application for us. We can also do ISR applications, border patrol. We're working on a gas version of this drone and our own proprietary communications systems. That's a very large drone. It's 7 by 12 feet. Our other drones, our IQ series, the smallest is the IQ Nano. That's the one that does indoor inventory management. Reads the barcodes, improves the speed and the efficiency and the safety of doing inventory management. It can also do RFID. These drones that I've just talked about so far, these are all in the testing trial, paid trial at stage right now. The IQ Square is our larger drone. It's an outdoor visual line of sight drone. Recently, this year, we've come out with the IQ Quad. That's going to be the drone we use for land surveys. It's purposely built for the various types of sensors required. We've recently also come out with the IQ Aqua, which is an underwater drone that's going to be used for a lot of things like detecting mines on the defense side. Earlier, in the last two months, we are working on prototypes of Counter-UAS solutions. We are doing two interceptor drones. One is based on the ZenaDrone 1000, called the ZenaDrone 2000, and the Interceptor P-1, which is going to be a one-way, low-cost interceptor drone. The IQ Glider is a launch station and a refueling station, as it's all part of this integrated defense system that we're building. We've also recently announced we're going to be doing manufacturing and testing in Ukraine. Certainly, some of these drone solutions will be focused on there. All at the prototype stage at the moment. Drone as a Service. What we've been doing is acquiring these companies, under-digitized land survey companies. We're getting licensed land surveyor operators. The average age is 50- 60 years old because there's a shortage of licensed land surveyors. It takes five years after university to become a licensed land surveyor. They have established businesses, and they're profitable companies, and they've had clients for 20 years or so, very often, in many of them that we've acquired. These are great businesses we are adding to Drone as a Service. We're integrating our drones. We're integrating the workflows, we're providing centralized services for data analysis and reporting, because you have to get that information as quickly as possible to the construction company or the builder in the case of a land survey. We're really unique in terms of our vision for this business and in terms of the speed to which we are rolling this out. This is going to be a platform for multiple services. We have these Drone as a Service. It's like a branded store office that will be located in many communities, and we expect that we'll be increasing the portfolio of services that we're going to be offering at each location. Now, we're in the integration phase of the drones. We're working the drones into the workflows of these, and it does take six months and longer to do this integration. This is all part of this flywheel of how we're building value. We are decreasing the margins and just creating leverage with this whole platform is the idea. I mentioned our manufacturing operations, and they're all expanding. We're building the facility right now in Mesa, Arizona. We've been in UAE for many years already, and that's where a majority of our manufacturing has been done up to now. We're expanding those, of course. Patents are important part, I won't go into the detail, but important part of what we do. Regulatory approval, of course, we have to be on top of that for all the places where we do business. Just want to talk a little bit about our founder and CEO, Dr. Shaun Passley. He has six degrees and he's been a founder since high school. He's very much our visionary who has very much clarity of vision is where he's taking the company. Of course, you'll meet Jim Sherman, our very experienced CFO, we have a very brilliant CTO that are part of the key leadership of the company as well. Moving forward, we're focused on getting that green and blue, well, mostly the Blue UAS certification, which as I said, takes a number of months. It's in progress, and we need that to be on the procurement list. Manufacturing goals. I mentioned all of our facilities are growing. We are focused on the number of drones per month out of each of our facilities, and we keep expanding that. We're focused on continuing to expand our capacity. We're going to close 25 acquisitions by mid-year. We've got two weeks to go. We've done 23 so far. Our Drone as a Service, we will continue our integration, which is really important. We'll be continuing to working on our R&D projects to further our next generation of solutions also. We are ZENA on NASDAQ, and that's just a little bit of an overview, and we're happy to take some questions. All right, Linda, thank you so much. We do have lots of questions for you. Let's jump in. If you can talk about what percentage of future revenue do you expect to come from defense versus commercial markets? We have our CFO on, do we not? I don't think we do, but I'm happy to You will get all these questions. You can answer them on your own. If you want me to move on to the next question, I'm happy to. Oh, yeah, no, I was hoping we had our CFO. Yeah, I can address that. The question was percentage of defense versus commercial? Okay. Well, our revenue is coming from Drone as a Service right now. As I mentioned, we're a revenue-generating commercial drone company with a defense upside. It's a longer timeline for our defense business. We're working on it. I mentioned that the Blue UAS is important. We've been engaging with program managers. We're focused on getting those first projects that will lead to those long-term contracts. That's usually how the sales cycle works for defense. Stay tuned for our announcements there. It's a very important part of our business, but it does have a longer timeline. Can you talk about how acquisitions are funded? How do you plan to sustain your acquisition strategy while creating shareholder value? We fund our acquisitions through to these companies we acquire, one half is cash, and the other half is a seller's note over three years, and we pay that note off in three years. They're usually monthly and at a nominal interest rate. The reason why we do that is we want the companies we acquire to have skin in the game. Yeah, that's been how we've done it, and it's worked quite well for us. Talk about your approach to integrating acquisitions into the ZenaTech ecosystem, how quickly do they begin contributing to revenue and operations? Yeah. It takes at least six months to integrate one of our acquisitions. What we do, first of all, is we have a drone pilot training for all the land survey technicians, so that instead of having two people go out to a site, we have one, the land surveyor in, that can also use the drone. Then also, using the drone, the idea is that the land survey gets done faster as well. That's how we're affecting margins there. Then we have a centralized data analysis for LIDAR and all of the different sensor technologies we use to do some of this work. Instead of having multiple people often, you've got a drone user. We're able to do this quickly rather than have a drone company and then structuring the data is tricky. Oftentimes you'll find out the land surveyor will go to an outside data company to structure and get the data done, and then it has to go into the CAD software. There's a number of steps. What we're trying to do is just try to systematize this and improve the efficiency and the throughput of these steps is the idea around what we're doing. Also, AI is really important to our business, too, using AI wherever we can as well. That's part of how we're doing this integration. Then, becomes a branding aspect of it as well, because when we acquire a land survey company, right from the get-go, some of their land surveyor customers, they're used to dealing with, say, Wallace Surveying. We kind of have both operating for a little while, and then we make the transition. Eventually they'll all be Drone as a Service with multiple services. We're just trying to be smart about how we do this integration. Perfect. I'll let you close with this question, Linda. If you can provide an update on your defense business pipeline, what milestones should investors watch for? Yeah. Our defense pipeline has multiple rungs to it. We work with a grants company that helps us to make sure we're on top of all of the appropriate grant programs that happen in different agencies or within different government departments. We've got that part of it. We've identified some of our initial drone solutions that we think are going to be a no-brainer for DoD, for instance. Those are the ones we're really working hard on trying to find those opportunities to really get a demo or a paid demo or pilot going with that customer. We've been working hard on that. What else are we doing? We have a Washington office that we're currently staffing up. We have internal business development managers focused on this, also outside consultants helping us with this right now. It's not just the business development side, but we're also making inroads with Congress, just with members of Congress, making sure that they know we operate in their state. We're in 10 different states right now, that keeps expanding. We want them to know that we're in their state, we're growing and creating economic impact. It's good relationship-building that can help us down the road. I guess there's multiple areas we're focused on. How do you know we're going to make progress? Well, we'll certainly be making public any of the wins that we're getting on this side of things. Of course, not to forget Blue UAS certification, we'll certainly be making announcements as we get those certifications, too. We have three drones in that process right now. As of this summer, we're doing the cybersecurity and penetration testing with our drones, and they've actually streamlined the process even since we applied last year, and trying to make it faster, so that drone companies are not stalled by sort of dated legacy procurement kinds of processes that don't work in the new era of drones. We will certainly be making announcements as we make progress on-. Perfect All these milestones. Well, thank you, Linda, for this. We appreciate you, and we would love to have you back in the future with some more updates. We'd love to. Thank you very much. All right, everyone, we'll be right back.