 Greetings, and welcome to the Simity Motors Corp. Previously, Grande West Transportation Group, Fourth Quarter, and Four-Year 2020 Corporate Update Conference Calls. At this time, all participants are in a listen-only mode. A question after session will follow the formal presentation. As a reminder, this conference is being recorded. Before we begin the formal presentation, I'd like to remind everyone that statements made on today's call and webcast including those regarding future financial results and industry prospects are forward-looking and may be subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the call. Please refer to the company's regulatory filing for a list of associated risks, and we would also refer you to the company's website for more supporting industry information. I would now like to hand the call over to William Trainor, Founder and Chief Executive Officer of Simity Motors. William, the floor is yours. Thank you, Operator, and good morning, everyone. I'm pleased to welcome you today to the Fourth Quarter in year-end 2020 Corporate Update Conference Call. The story of 2020 has been one of transformation as we've all faced the global pandemic. The team at vicinity strolled to fulfill our deliveries to customers throughout North America while facing unprecedented challenges. Given the pandemic, 2020 was a year of foundation building, highlighted by the addition of innovative new electric vehicles to a product lineup and the preparations for successful expansion into the U.S. market as we put in place the pieces necessary to launch our Buy America Compliance U.S. Assembly Factory. Despite countless logistic challenges brought on by the global pandemic, we were able to deliver 55 vicinity buses in 2020. More importantly, we expect to deliver over 100 buses in the first half of 2021, representing over 45 to 50 million in revenue. An incredible feat considering we have only just begun our U.S. expansion. From an innovation perspective, the launch of our innovative vicinity lightning EV was a crucial inflection point for the company, positioning us to deliver upon the future needs of an increasingly sustainability-minded public transit market. Our world-class purpose-built EV design includes world-class technology partners, allowing us to integrate proven battery systems and components from tier one suppliers like BMW. The development and production of a mid-size, low-floor, fully electric transit bus with proven, readily available technology that can accommodate up to four wheelchair positions is a huge step forward for our company and the transit industry. The vicinity lightning EV received its first orders in 2021 with further indications of interest in additional customers expected shortly. 25 vicinity EVs are currently in the production phase to meet near-term anticipated demand. Our operations are running very smoothly and we continue to refine our strategy to meet expected demand as we transition into 2021. We strengthen our management team with the addition of respected Canadian transit leader Manuel Achadena as Chief Operating Officer and initiated the development of our Washington State manufacturing plant and U.S. headquarters with operations expected to commence later this year. In his new role, Mr. Achadena will drive innovation and efficiency to maximize our operations and engineering teams, position the build of our Washington manufacturing facility to support optimal output and scale, and increase overall productivity in the organization as we are poised to rapidly scale. We have a solid U.S. growth strategy in place as our manufacturing facility there is spooling up. In order to grow our sales in a significant U.S. market, we've entered into a strategic distribution agreement with ABC companies, a leading provider of motor coach and transit equipment in North America to distribute vicinity heavy-duty vehicles throughout the United States. This partnership will allow us to scale operational in its critical growth market and is more significant in many ways than many may realize. In addition, recently the State of New Mexico selected vicinity buses in a statewide purchasing contract that gives the State transit agencies the right to purchase directly from the company's diverse bus portfolio. We expect to see similar contract wins in other U.S. States in the months to come. Along with these strategic shifts, we recognize the need to change our corporate name to better reflect our increasing focus on the commercialization of our industry-leading vicinity buses, particularly our new electric lineup. The updated name will bring together our sales and marketing branding with our corporate identity to take us forward as a major player in the North American public transit market space. Now with that, I'll turn it over to Dan to review the financial results for the quarter in the year-ended December 31, 2020. Dan? Thanks, Liam. Good afternoon, everyone. I'll constrain my portion to a brief review of our financial results. Full breakdown is available in our regulatory filings and in the press release that crossed the wire after markets closed today. Please note I'll refer to adjusted EBITDA and other non-GAF measures. For the calculation of adjusted EBITDA and other non-GAF measures, please refer to the Q4 MD&A, which is available on CDAR. Revenue for the full year 2020 totaled $26.1 million, of which 4.5 million for 17.2% was earned in the fourth quarter. This compares to revenues of $24.6 million for the full year of 2019, of which 5.4 million was earned in the fourth quarter. A gross profit was $3.3 million for 13% of revenue for the year-ended December 31, 2020, as compared to a gross profit of $4.3 million, or 18% of revenue for the prior year. Gross profit for the fourth quarter of 2020 was $2.2 million, or 49% of revenue, as compared to $0.7 million, or 13% of revenue in the fourth quarter of 2019. The margins in 2020 were negatively affected by sales mix and are 21 deliveries generally have higher expected margins than those realized in 2020. Looking ahead, product mix and margins before allocating any overheads are expected to be more in line with those realized in 2018 and 2019. Total operating expenses for 2020 were $7.6 million, of which 2.7 million were incurred in the fourth quarter. Total operating expenses for 2019 total $9.3 million, of which 2.4 million were incurred in the fourth quarter. The decrease in expenses for 2020, as compared to 2019, is mainly attributable to the elimination of external commissions in Canada that took effect in late 2019, a reduction in salaries due to government subsidies, and a reduction in travel expenses for 2020. Cash use and operating activities for the full year ended December 31, 2020, total $7.7 million, compared to $3.8 million for the full year ended December 31, 2019. The decrease from previous year was mainly due to the change in non-cash working capital items. Net loss for the full year 2020 was $4.4 million or 17 cents per share, as compared to a net loss of $5 million or 21 cents per share in 2019. Net loss in the fourth quarter of 2020 total $600,000 or 2 cents per share, compared to a net loss of $1.8 million or 7 cents per share in the fourth quarter of 2019. The reduction of net loss is mainly a result of SG&A savings of $1.2 million in 2020 versus 2019, offset by a lower overall bus margins in 2020 due to product mix. Adjusted EBITDA laws for 2020 was $2.3 million, compared to an adjusted EBITDA law of $2.4 million for 2019. Adjusted EBITDA for the fourth quarter of 2020 was positive, compared to an adjusted EBITDA law of $0.8 million for the three months ended December's liquidity through delivering on existing orders, renegotiating credit facilities, and product line expense. Our company is in a strong position. We fortified our balance sheet, which has very few long-term liabilities, and our liquidity is not an issue. Overall, the fundamentals of our operations are very positive, and we remain well-positioned for future growth and profitability. Like to now pass back to William to offer some closing remarks, after which we'll begin our Q&A session. Thank you, Dad. Looking ahead into 2021, we are incredibly well-positioned to create long-term value for our shareholders. We are intensely focused on our 2021 order book, completing our UF manufacturing plan, and increasing orders for innovative vicinity lightning EV. We believe that we will realize twice our full year 2020 sales in the first half of 2021 alone. An incredible feat, and a testament to the math we're seeing in the marketplace today. We look forward to announcing new sales, product, and strategic milestone achievements in the months ahead. I thank you all for calling, and now I'd like to hand the call back to the operator to open our question and answer period. Thank you. Thank you, William. We will now begin the question and answer session. To join the question queue, you may press star, then 1, on your telephone keypad. You will hear a tone acknowledging your request. If you are using a speakerphone, please pick up your handset before pressing any keys. To withdraw your question, please press star, then 2. We will pause for a moment as callers join the queue. The first question comes from Mike Shilisky with Collier Security. Please go ahead. Good afternoon, gentlemen. I wanted to start off by maybe asking if it's possible to ask about your FID pipeline. Can you give us a sense as to the number of units or the dollar amount that you're bidding on or looking at this year versus this time last year? Is there a much larger pie of orders to pick from these days? Thank you, Mike. Good question. Yes, 2020 was really a flat year. We didn't see a lot of tenders coming out, not very many RFPs at all. 2021 has really shaped up. We see a lot of activity in the marketplace right now. In fact, we just recently announced that new Mexico bid that we're successful on. We see a lot of other bids coming forth. Some of them are very close to closing off for us right now. And we see it on both sides of the border. We see that in the US and we see it on the Canadian side. And a lot of interest in our EV product to date. That's a great color. Maybe I'll feed my next question here about the EV environment. Can you give us a sense as to what the competitive environment is on EV tenders compared to other propulsion? Are there the same number of competitors when you bid on those? And I'm curious if there are any kind of pricing differences between? Yeah, there's another good question. Yeah, our product, we developed our vicinity lighting product to actually come to the marketplace and be competitive in around $350,000 US dollar bid range. We're seeing a lot of our competitors come in at $600,000 to $700,000. So we think we've got a very extreme competitive edge. And I think that you really have to get down to what we did to get our bus into that price range. In our vicinity lighting, we really think it's going to be a super competitively priced vehicle and do well in the market. With that price range, what we did is we really aligned ourselves more with what the automotive industry is doing. The automotive industry, when you look at what their battery packs particular are, they're a 400 volt battery pack. It's easily charged. Our vehicle has an onboard charger that allows it to charge six, seven hours on an overnight charge. And we're not seeing that with the competitors' vehicles. A lot of the competitors' vehicles are taking a lot more effort and infrastructure to actually bring in a three phase power grid to charge the vehicles. So we think we've positioned ourselves extremely well. The other thing that we've done that I think will really lead us as a technical advantage is we kept our EV under $22,500 PVW. And the reason we did that was so that we could incorporate a hydraulic brake system into the vehicle. With a hydraulic brake system, it allows the customers to buy it and operate it without an air brake, a commercial air brake ticket. So again, we see that as being a huge advantage in the market as we move forward. I wanted to turn to the outlook for if you want to give us guidance, you would have. But I wanted to ask this, looking at the increase, just the first half alone, the increased revenues, looking at the different plateau for gross margins, I don't know much about the SG&A. It sounds like you might have some, if anything, just a small amount of growth there to the higher sales. But is there a way you can tell us whether you think you'd be positive on the EBITDA side firmly in 2021? Yeah, no problem. Yeah, we expect to be EBITDA positive for sure. I think that even with the guidance that we've shown for deliveries for Q1 and Q2, we're going to be EBITDA positive here for Q1 and Q2 as well, most likely. So I think that for trailing 12 months, you'll see us be EBITDA positive very soon here and continue on for the rest of the year. I do want to follow up with one last one before I pass along on the working capital side. You've got the EBITDA, but you've got trades from our disorders to build here over the next week. How do I build some? Do you have a large working capital investment? We do. We have some working capital that we will have to invest, but we do have an operating line of $20 million in ABL. And we do have positive working capital right now. So we're in a pretty good position to grow for sure. And we can grow our facilities as needed to try and help out with any working capital needs. But yeah, definitely there will be, especially with new product lines, we'll definitely have some increased expenditures in the inventory as we go on. Well, thanks so much. I appreciate it. Thank you, Mikey. The next question comes from Chris Sother with B Riley. Please go ahead. Thanks so much for taking my question guys. I just want to start out, you know, a little bit more on 2021, not getting done here, but maybe just talk a little bit about the cadence and where we are with those first half orders you talked about. And, you know, let's suppose it's for the first quarter, maybe just provide a little color of kind of the progress for the first quarter and, you know, visibility into the second quarter at the back half here. Any color you could provide would be helpful. Sure. I think, Dan, here again, we've given some guidance here. We're trying to stay away from giving full guidance for the year. But the first half of the year, we'll definitely see over 100 buses. That's for sure. The first quarter I think will be a very positive surprise for everybody. And that's just a good change from the last year. We'll definitely outsell in the first quarter. We'll outsell all of last year, put it that way. And, yeah, we expect that to continue into the second quarter. We do have the potential and we will be having the first half, so I'll say that. If that momentum won't continue into Q3 and Q4, but we still expect to have some good deliveries for the rest of the year, we have good orders coming in right now. It's just whether we'll be able to deliver all of them before the end of the year or not for just kind of finalizing those projections right now. Understood. So maybe just, you know, you could talk a little bit more about that. New Mexico win here. What is the timing and scope you think of that with XT, you know, to give a little bit more color there? Well, what we see with a lot of these state contracts is you qualify on a state contract for transit authorities to purchase off of it. It's a great system. Now we just got to get the sales team in there and take purchase orders. You know, we're extremely competitively priced and we really expect to gather up a lot of sales in the areas that we're winning these contracts in. Okay, that's very helpful. And, you know, maybe just a little bit on the lighting side, you know, obviously Biden's plan today highlighted, you know, need for replacement of a large, you know, fleet of vehicles here that we're talking about for buses. You know, I wanted to get a sense of, you know, the timing of, you know, the lighting starting to shift out. You've got, you know, the first five, you know, Dr. Biden has 25 in production. Like previously, you had mentioned, you know, capable of producing up to 200 of those this year. You know, where are we in kind of building out, you know, that production. You know, what is kind of the plan over there? Yeah, you know, we're excited with the EV product. We currently, you know, have 25 in production. We actually have orders for 15 of the first 25 that are coming that are firm purchase orders in hand as we speak. You know, we've been in production here. We expect the first models actually to be able to get out to for demonstration purposes sometime in June. You know, the first five that come, that we have available, you know, really we've got one one earmark for demonstration purposes in Canada. We've got two for the U.S. One for East Coast, one for West Coast. We've got one that has to go have some EPA testing done on it for range testing to you need to qualify your kilowatt per hour usage for mileage. And then the other one is, you know, we want to send one down right away to the L2, the test grounds in the U.S. A lot of the a lot of the tenders are FTA funded. So the FTA traditionally gives up to 80% of the purchase price to the transit authorities on a bit. Some of that criteria is, you know, you need to be 70% U.S. content. We tick that box. You need to have an Altoona test done. We've got we've got that with all of our other vehicles. We just need to have it with the EV, but we're not expecting any difficulty there. You know, our our standard buses that we put through, you know, particularly, you know, take with our 30 foot heavy duty vehicle we put through Altoona, it was best in class. So it's built with the same type of platform, same engineering principles. So we're expecting it to do extremely well at the test grounds. And the third thing you need is you need to have that assembly factory, which we're well underway on to to have completed in Washington state. Excellent. And maybe on the Washington facility, you could just talk a little bit about the CAPEX cadence and the case of hiring that you expect to see throughout the year to get that facility up and running, you know, around your end, it sounds like. Sure. Yeah. Yeah. So Dan here again. So for CAPEX, we're looking at spending you know, around 10 million this year, you know, kind of by year end, we'd be looking to spend that much for CAPEX. And then just hiring as far as kind of staffing the facility, you know, where are we as far as kind of, you know, preparing for that and that action there? Yeah, we have, you know, our new Chief Executive Officer, our Chief Operating Officer, sorry, is handling that. We're well underway to put staffing and everything in place over underneath for the facility. We're working very closely with the state of Washington as well for all the incentives and grants and training programs that are in place. Good luck with the ramp here. Oh, thank you. Thanks. Congrats on all the progress. Thank you for taking my questions here. At the risk of beating a dead horse, you know, a little bit, when I think about the 101st half deliveries, is there a way to benchmark how much of those are pulled forward from last year and how much of those are coming from organic new water growth? We did now last year that we had a pretty large order that we were trying to complete before the end of the year. And that was, you know, around 90 buses. Some of them we got into last year, but the majority of those we've been delivering this year. But we're still within our customer expected timeline there. So, that did push into this year as well stated, you know, things really slowed down last year for orders as well. So we are completing off, we do have quite a few orders that we took at the end of last year, kind of when things started to get a little better here in Canada. We'll be delivering on those over the next quarter to two quarters. And we do have orders that we started to receive that we are rushing to get done as quickly as we can this year. We still think we can get quite a few orders done this year for Q4. And just we're still talking about taking a couple of orders that we could still deliver this year right now. So we are starting to see new orders come in and the pipeline is definitely getting a lot bigger. And that's where, you know, we're trying to build into next year right now, but we're definitely seeing a lot more interest right now and, you know, interest in our EB product as well. That's really encouraging. Very helpful. Maybe just another one here for you, more of a background question. But as we think about seasonality of revenue and GP and SG&A through this year, can you provide us, if there are any typical patterns that we should look out for in terms of the bid cycle and parts ordering and factory shutdowns, you know, how that may play out through the model? Yeah, it doesn't really affect us that much. You know, other than, you know, we try to get things done before the year end sometimes. And if you have some, you know, public entities that are bidding for buses, they have their own budgets that they have to watch out for. So they want to be spending money within a current year, within a certain year. But other than that, you know, there's not really, it's not really any cyclicality that we see from a delivery standpoint. Just one more here. And we talked a lot about the EB buses, the lighting, but we haven't spent a lot of time on the C&G product, which seems to be, you know, pretty good go-between in terms of the offering. What does demand look like for those C&G units? And, you know, have you seen many customers that are cross-shopping C&G and EB, or are the C&G units mostly replacing the diesels? Yeah, we've seen a greatly increased demand on C&G buses. You know, most agencies now are looking to see how they can, you know, reduce greenhouse emissions and be a lot greener. And the C&G does fit that bill. You know, the name for the C&G engines are near zero, and there's a reason for that. They're very low on the emission output. And we see a lot of activity on C&G still as we speak. You know, we look at the EB, the EB business, definitely there's more activity, a lot of activity coming for the EBs. And we have, you know, quite a few outstanding tenders here that we've been on the EB that we're waiting to see what happens, which is very interesting, because, you know, we're just entering in with our first product. And once we launched the EB, the, you know, the built-up information that was requested for it, it's just amazing. And that's on both sides of the border. But, you know, the EB is going to be, it's going to take a while before you see the EB market take over 100% of the of the vehicles. And I think that's where, you know, we're in a very good position as we're transitioning into that EB market. You know, we have, we have the existing product like the C&G bus that fits the needs for a lot of a lot of customers. Thank you for being here today. Appreciate the time. Well, thank you. Thank you, Bruce. This time, this concludes our question and answer session. I now want to turn the call back over to Mr. William Trainer for his closing remarks. Oh, thank you, operator. We'd like to thank each of you for joining our earnings conference call. We look forward to continuing to update you on our ongoing progress and growth. If you're unable to answer any of the questions, if we were unable to answer any of the questions, please reach out to our IR firm, MZ Group, who will be more than happy to assist. Thank you so much and everybody have a great day. Thank you. Ladies and gentlemen, this does conclude today's teleconference. Thank you for your participation. You may disconnect your lines at this time and have a wonderful day.