Tuning in and listening to us today. I'm going to go through our presentation, and then we can take some questions. Without further ado, we're ZenaTech. We specialize in AI drones, Drone-as-a-Service, and also we believe that quantum computing is an underlying technology that will be powering the future of real-time AI drones. We have three business areas. The first is that we design and manufacture drones. The business areas that we're focused on include government, defense, and business customers. The second thing that we are doing is we're building a Drone-as-a-Service business, and this is basically providing turnkey drone services for land surveys, inspections, power washing, and we'll tell you a bit more about that. Thirdly, we have an enterprise SaaS software division, and we've long had this part of our business, and it provides important skills that we use throughout our business. We're pretty global. We have operations in North America, Europe, Asia, and U.A.E., and just recently Australia. We currently manufacture at three sites, and we're actually working on a fourth right now. Why ZenaTech? We're really about leveraging AI-driven drone automation, and how this can automate work and lower costs and provide real-time data. Secondly, we are building really an AI autonomy platform with our Drone-as-a-Service. We have 32 locations, and we're really building a platform and building services and streamlining services and then expanding the portfolio of services we're offering there, where we are developing this via a roll-up strategy. We are acquiring under-digitized legacy businesses that are just ripe for drone innovation. We're also targeting defense markets. We've made some progress where we have our drone suite of solutions, and we are engaging with defense agencies focused on building that, but a little bit longer timeline. Of course, our enterprise SaaS business. That really provides recurring revenue and then is really an important strategic skill set of our company as well. Here's some of our key metrics. We've been public since the 1st of October 2024. We did a direct listing rather than an IPO when we went public. We've come a long way since we started back in 2017. We were primarily software, and we have about 12 different software brands, and last year, we really made the switch to becoming a drone company. We are pretty global. Here's some of our offices. I mentioned three manufacturing facilities. We've also recently announced that we're going to be manufacturing and testing in Ukraine. This is just a sample of some of our offices, being corporate offices or our Drone-as-a-Service locations. We have 32 around the world, and we've done 23 acquisitions of primarily land survey and engineering companies to date. Here's our revenue models. We are selling our drone solutions specifically to business, government, and defense, and a lot of our solutions are at the pilot stage, the testing and the pilot stage. We're just at that finishing up. We're in the middle of, I guess, I don't know, we'd say we're working on those paid pilots, really, of many of our solutions, and we have others that are in development at the prototype stage as well. Our Drone-as-a-Service business, we're really focused on making this a subscription model. We want to do subscriptions or memberships and then a usage charge. We're really after the recurring revenue as part of our Drone-as-a-Service business. Of course, enterprise SaaS for business and government and the usual revenue model for that business. 2025, our first full year as a public company, we really made the transition from a software company to a drone company, and $12.9 million was our revenue, and $10 million of that was from our drone segment and primarily our Drone-as-a-Service. For the first quarter of this year, our revenue was $8.4 million, and that was a 640% increase over the same period of the year before. Our drone segment was 93% of our first quarter. We've really been focused on. Here's some of the execution highlights. We've really been focused on that durable growth. We've done 23 acquisitions as part of our Drone-as-a-Service business. We've said we're going to be doing 25 by mid this year. We're almost there. Our defense pipeline, we've done trials previously with the Navy and Air Force, but we've been engaging with program managers at various agencies, working on getting those demos and those pilots leading to the contracts, the long-term contracts that we'd like to be eventually focused on. We've made a lot of progress on our products. We've got counter-UAS solutions in addition to the inspection, surveillance, and the cargo, and some of our existing solutions. All of our manufacturing facilities have been growing. Either we're establishing facilities in the case of Arizona, or we are increasing our footprint, the size of our facilities, and also our teams. Quantum computing is a really important part as well. We have a team of people working on those solutions in the next generation of AI drones with taking in real-time data, and all of the massive information data needs that will entail. We think a quantum will be the basis of future drone applications. Our defense business, really important that we're focused on what's called Blue UAS. That is really the certification that enables us to be on the procurement list with the U.S. military. We're probably halfway through that process. We have three drones in that process, and just this week we announced we have a fourth drone in the Blue UAS certification process, the multi-month type of certification. We're doing cybersecurity testing this summer for our first three drones. We're making our way through that process. We have a Washington office. For a while now, we've been focused on bringing on board our team there that are going to be on site to further help us target and sell our defense drone solutions. There's been a lot of policy tailwinds that have certainly helped in the last year around certainly for the U.S. policy directives. We're seeing the FAA is opening up the airspace to the new world of drones, and we're going to see some important regulation on Beyond Visual Line of Sight, we hope, later this year. We have a Zena AI, which we've established in Baton Rouge, Louisiana, that is going to focus on advanced AI solutions for defense. Our quantum strategy will be tied into that initiative as well. We've just announced counter-UAS solutions in the first quarter of this year. I will tell you a bit more about those as well. Of course, the drone marketplace, it's growing, massive growth, over 25% per year. So we're certainly fortunate to be in a market like this that we are very focused on really expanding our market share, and we're really focused on leveraging that opportunity. Then the defense opportunity is quite large as well, and we are really focused on our speed to market for this area of our business as well. I'd like to tell you about our drones. First of all, I'll tell you about the ZenaDrone 1000. This is our flagship drone. It is a seven-by-12-foot drone. It's a medium-sized heavy-lift cargo drone. It also does ISR applications. There's an interchangeable sensor in the nose cone of the drone that can be customized for different applications. Along the top, it actually opens up, and there's a cargo area in there, and it can be refrigerated also, so we're really focused on those specialized applications for the military, like medical supplies and blood in the field for this, at least initially. We're working on a gas version of this one also. Then I'll just skip to our IQ Series. The smallest of that is the IQ Nano, and that's our indoor drone. What we're doing is inventory management. It can read the barcodes, it also works for RFID, and puts this information into an inventory management system, and basically improves the speed and improves the precision and just inventory management in general. When you have a drone that can constantly help you with your cycle counts, it really improves the inventory management decision-making. We think this drone also has a good opportunity for defense agencies that have a lot of inventory. Then just small, medium-sized warehouses. We're at the paid trial stage, and we've done some paid trials, and we're working on doing some more for this drone. The IQ Square is a larger version of this, and it is our outdoor visual line of sight drone for maintenance and power line inspections and whatnot. The IQ Quad is a specialized land survey drone we just announced this year. We're using it internally. We're using a lot of our drones internally. The IQ Aqua we just announced, which is an underwater drone for port and harbor threat detection, but also enemy mine detection. So we just announced the counter-UAS solutions, and those include the ZenaDrone 2000, which is an interceptor drone. It's kind of largely based on the design of our ZenaDrone 1000. Then the IQ Glider is a launch and refueling station that's part of this integrated defense system. Of course, the ZenaDrone 2000 is going to be a gas-based interceptor drone. Then the Interceptor P-1, it will be a one-way expendable drone. We're working on the prototype, some currently, of all of these drones, and we've recently announced that we'll be doing manufacturing testing in Ukraine, and we'll be doing a lot of work on those drones there. Drone-as-a-Service. We started doing this in the January of last year. What we're doing is finding those under-digitized businesses, and we're combining our drones. It takes six months or a year to integrate those businesses, so we're very focused on that integration process, on the workflow integration, and the data. We have centralized data services. The idea is to really streamline this process and get that data to the builder construction company as quickly as possible so they can get on with their permitting and building. It's not just land surveys and geospatial mapping and whatnot. We're also focused on power washing and inspection services. We've acquired companies that do that as well. The idea is that we're creating this platform, and we're also going to be adding to the number of services that each Drone-as-a-Service location is able to service. It'll be the place in the community where you go for drone services is our vision. It's kind of a flywheel of creating value of that integration process, and we are very focused on going through and integrating all of these businesses into our platform. Our drone manufacturing, as I mentioned, the three places, all these facilities are growing right now. A lot of the manufacturing is for our own use. In each of the facilities, we are focused on the capacity and the number of drones that we're able to produce per month. Of course, our IP portfolio is a very important part of our business that we keep adding to. Of course, regulatory approvals. One of the most important there is the Blue UAS certification we're working on right now. I want to talk about our leadership team, particularly our founder and CEO, Dr. Shaun Passley. He's been a founder and has formed and grown and exited from a number of tech companies throughout his career. He has six advanced degrees, and he's very much our visionary that has the clarity of vision of where he's taking the company. Of course, our CFO, a very experienced CFO with public companies, and our CTO engineer with an MBA, also very brilliant individual. This team has been working together for, I would say, 10 years. They're a very strong team. Our path forward. We are really focused on getting the Blue UAS certification. That is going to really help us open up more. Well, it's required to open up opportunities in U.S. defense, so we want to get that as soon as we can. We are expanding our manufacturing facilities. Arizona's very important, where we want to use that facility for U.S. defense purposes. Being NDAA compliant is very important to us, which is why we have our Taiwan facility for our component parts and our PCB boards, and we're a vertically integrated company. Taking advantage of Made in USA, that is important now for drone makers for the U.S. military. We said we're going to be closing 25 acquisitions by the end of June, stay tuned. We got a week and a half to go. We keep focused on advancing our solutions, our existing solutions at the paid trial stages, and also the prototypes, getting them to the testing and through to trial stages as well. Our quantum computing area, we keep focused on working on those kind of solutions. Wildfire management is one. We're doing a lot of work on that. R&D is very core to us to make sure that we're enabling the next generation of our solutions. That's basically an overview, ZENA on NASDAQ. Thanks. I guess we can take some questions. Thank you so much for the presentation, Linda. I really appreciate it, and I would like to remind everybody in the audience, if you have any questions, you can submit them at the Q&A section at the bottom of your screen. Linda, can you walk us through the manufacturing capacity of the Zena drone platform right now? Are you manufacturing them internally, or are you relying on third-party partners? Can you scale production? I am going to let our CFO answer that question. Okay, we manufacture in different areas right now. For the military, we have our Phoenix area that will allow us to be compliant with the military manufacturing. On the civilian side, we manufacture in other areas to have better cost structures and different things. We can scale these. We have large enough facilities where we can add systems and production lines as well as employees. They are very scalable. We could double or triple our manufacturing with the military should we get contracts. A lot of the times those contracts come with increasing volume over the 18-month period, and so we are able to scale up as needed with those military contracts. On the personal side or on the business-to-business side, we are slowly scaling up as need requires. We're increasing our Drone-as-a-Service areas that we provide service for, and so we are producing drones internally for these areas, and we have been scaling those production facilities up slowly. I'm sorry Asia. I cannot hear you. Oh, I'm so sorry. I think this one is also for you, James. How should investors think about the future capital needs and dilution? Can you summarize how you're funding your ongoing acquisition program? Right now we have a registration for a $250 million U.S. cap. That facility has about $200 million left on it right now. We've utilized that facility to raise funds for expansion, acquisition. We grow a lot through acquisitions. We acquire companies that are low technology, and then we add technology to them. We get very good prices on those acquisitions. We use our capital facilities to increase basically our revenue and our market share. Then we do have a small burn rate. The idea of dilution, if we can grow our revenue faster than the effect of dilution for issuing more shares, then it's actually a plus to the shareholder as we expand. That's where we've been trying to grow and expand, and I think we've been fairly successful right now. We've grown revenue from $2 million in 2024 on a year basis to, if we take our 2026 first quarter revenue and annualize it's more than $30 million-$35 million, plus we've made acquisitions since then. Our revenue is growing quite quickly in these 18 months. That idea is that we've had dilution, but our revenue and the size of the companies have grown. The dilution has been less of an effect than the revenue growth and the growth of the company overall. It should add value to the shareholders as we raise funds. Right. The Drone-as-a-Service business appears to be a major growth driver and an acquisition focus. How much of the current revenue growth is organic versus acquisition-driven in that area? We made roughly 20 acquisitions in 2025. A lot of that growth was just growth through acquisitions and we didn't really take statistics on what was internal and what was new growth. In 2026, we've been starting to take metrics on it. We'll say more about that later in the year. What I see so far is very positive things. With the Drone-as-a-Service, what industries are you seeing the strongest demand today? Well, we focused on the land surveying industry, but also inspections is a very good area for drone technology. With inspections, if you're inspecting metal and different things like that, what you can do is you can look for rust through the drone technology. You can pick up rust areas that's not necessarily visible to the naked eye. Then in crop management, you can pick up plight, growth of insects and different things. You can also pick up in power washing. We've targeted power washing. We've had one acquisition in power washing. We believe a drone can do the job for power washing, make it safer and make it faster and more efficient. So we're focusing on those areas, too, outside of the land surveying industry. Basically, we're looking for industries that are ripe for drone technology. We're making acquisitions in those areas, then we're implementing the new technology to our acquisition. We've seen lots of different industries that we've targeted, we'll continue to target new industries. Land surveys is one we've targeted the most heavily over the last 18 months. Right. I just want to end by asking if you can sum up the value proposition for investors who might be looking across the drone sector. Nobody else is doing some of the things we're doing. We have military applications. A lot of drone companies are doing that, in addition to that, we have Drone-as-a-Service. That makes us unique and distinct from all other drone companies for the most part. We, in the land surveying industry, we manufacture our drone, we have drone operators, we provide the conversion data. The data that's collected by the drone, we convert it to a CAD system, then the CAD system is what software is used to produce the end product for licensed surveyors. We're a one-stop shop in this area, we've learned a lot. We specialize drones to do it's a big source of our revenue right now. We'll take what we've learned in this industry move it to new industries, too, specialize drones for those industries as we grow. I think that's where we are now is, that's one thing that makes us distinct and unique. We have other drones that will work with our inventory management system, like the IQ Nano. We have software that will actually add to or integrate functionality of a drone with that software. I think that also makes us a little bit unique, as compared to some other providers. Keep an eye on ZenaTech. We're moving, we're growing. I'm happy with where we've been so far. Since we've been listed we'll continue to do some of the same things we've done in the last 18 months. We'll continue to do some of those things going forward. Right. Thank you so much, James and Linda, for sharing your story with us today, and I would like to thank everybody in the audience for spending time with us today. Thank you so much. Thank you for having us
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