 Thank you everybody for being here. I know it's a really difficult time in your industry and I know everybody's affected in various ways and also similar ways at the same time. So it's a really difficult, strange, confusing time, but I really admire all of you. I admire the drive and the determination to have a float center. I really value stillness. I value the ability to meditate and take time, mental health and in fact, I think it's probably one of the most important things in the whole world right now. And I feel like this group is a group that really understands that and there's something that led each of you here and my guess is it may have not always been the desire to make the most amount of money for yourself or to be selfish in any way or maybe it's to try to a better life that's more meaningful to what you care about. So I really salute you and I appreciate you being here. I was thinking about you all this morning and what I wanted to share and if you've heard of me it's probably because you heard how in 2015 I took a million dollar pay cut so that all of my employees could make a minimum of $70,000 per year and I thought about how that message might seem a bit far-fetched for many of you depending on what your location is and depending on your business structure and like, yeah, sure, sounds good. How do I do it? But I know that that's not necessarily the reality that everybody can afford to do that. So I just want to say up front that I appreciate the opportunity to speak to you anyway. And I also want to admit to you up front that my first employee at Gravity, first long-term employee who's still there to this day and really an amazing person to work with, made $24,000 a year, $12 an hour to start. That's it with virtually no benefits. And so, granted, I was maybe 20 years old at the time or 19 years old, something like that, but I'm not here to point the finger at anybody or say that you're like a bad person or not doing it right. I am here to encourage you that the more that you can grow the success of the people on your team, the more that you can be successful as a company. And I have basically a quick story to tell you, but before just to kind of not leave you on the cliffhanger, after I implemented the $70,000 minimum wage, I got lauded and ridiculed, Rush Limbaugh said that I would be a case study and MBA programs about how socialism doesn't work. It infects the company because we're going to fail. The New York Times wrote a very long and critical article about gravity payments, about the $70,000 minimum wage, and talked about how much discord it was causing. And it was tough, I'm not going to lie, to have the New York Times and Rush Limbaugh hitting us from all sides, and at one point Facebook told me there were 3 million people making fun of me on Facebook at the same time and talking about how stupid I was and how stupid the idea was. So it felt like the deck was stacked against us, and we even started to have customers who canceled with gravity because they were worried that they didn't want to be on a sinking ship on the way down. But we stuck it out, and five and a half years later, I'm here to tell you that it's been a huge success. Our pay scale before went from 30,000 at the bottom to a little over a million at the top, and now our pay scale goes from about $70,000 to about $300,000. So we compressed our pay scale, and giving more money to the people at the bottom of the pay hierarchy has proved to be incredibly successful for us. And I'll give you some proof of that, which is we went from having zero to two babies born per year at the organization to in those five and a half years. We've had 55 babies born or announced. So about 10 per year, you know, 10 times the amount. We also saw a first time home ownership skyrocket, which is wonderful experience. We had 70 percent of the company report that they paid down debt because a lot of people critiqued us that with a higher income meant people would spend and get into more debt and it would be a net negative. But actually the stats are the opposite of that. And 30 percent of people have either gotten completely debt free or mostly debt free and maybe best of all in a tough place like Seattle, where it's very hard to make ends meet. We saw people between double and triple their savings for retirement. So that those are all really great proof points and oh, by the way, we also tripled in terms of how much processing volume we process to now where we're processing about a million dollars or excuse me, a billion with to be a billion dollars per month in payment value. But the story I wanted to tell you was a very recent time back in March when I thought all this was coming crashing down and Rush Limbaugh and the others would be right about what they were saying about us because when the pandemic hit, we thought, oh, we're so diversified across geography, across industry, but where we weren't diversified is we serve small businesses. We serve small businesses like float centers and across the small business landscape, across the small business ecosystem. We saw an average of 55 percent drop in payment card volume. And that's a direct tie to our revenue. So we lost 55 percent of our revenue. We went from kind of eking out a profit that felt, you know, a little bit scary, but a little bit safe, kind of writing that line of like, should we charge less but be a little bit more dangerous or should we, you know, keep what we're charging steady and things like raises and all those is a big negotiation of like, how do we divide up this pie internally? We did it openly with 200 people. But we said if there's a recession, the worst recession, the once in a lifetime recession would be 20 percent because that's what we experienced in 2008. And we were told that's the worst of our lifetime. So we plan for it and we all set as a team. If this happens, we're going to rally around to each other. We're not going to do any layoffs. We're not going to do any price increases. We're not going to do anything that can have any adverse effect on the small businesses we serve. We know our competitors will do all those things. And we want to provide safety and a stress free environment in a crisis for small business owners where they don't have to worry if they're being ripped off, they don't have to worry if their credit card processor will be there for us, and that will be our function in a recession. We'll be able to do more good in a recession because we'll be more needed than we are in good times. So we thought we have the perfect plan and we lost 55 percent. And I went to my team and I was honest with them. I told them that I didn't know if we were going to make it. And I called some of my closest friends and family and I shared with them that I thought there was a good chance that I would be looking for a job soon. But there was an easy way out because one of my competitor CEOs pointed out to me. That if we just implemented a hundred dollar fee per merchant location of our customers with our 20,000 small businesses, we would go from losing one point five million dollars a month and being on our heel to making half million because that would raise two million dollars in monthly revenue and we could use that extra half million to hire and build products and tools that would replace the customers that would leave us by the time they left us reacting to that. And also it was pointed out that we could manage to do that and still be under the average of what our competitors charge. So according to quote unquote market rates, we wouldn't be overcharging even if we added this hundred dollar fee to your business and every other business out there like that and that just seemed antithetical to everything we're supposed to do, put this stress and really this insult to this already injury that's happening to all these small businesses. The whole point of starting the company was to prevent that shit from happening because my friend Heather had that happen to her when I was 17. I was playing in a rock band at her coffee shop and she hated it. And I was so angry about it. That's why I started the company to prevent that from happening. So it's like that would be the death of the company. And then the idea of laying off an employee, you know, maybe there is employee sometimes, you know, that that needs to move on for whatever reason, but in a pandemic when the unemployment offices are flooded and if you just get a little unlucky and there's some exception on your unemployment account, I have a friend that it took her six weeks of a full time job getting through to unemployment because her automatic application got rejected for something that had nothing to do with her ability to be fastidious and make sure to be accurate and do everything on time. But of course, there's exceptions where they have to have a human look at it. She got put in that line and I just felt like the people that had built this company that were waking up every day, taking your phone call, giving you that application to help people schedule their appointment, to help people social distance, you know, supporting a great company that we admire a lot, Float Helm and others that are building technology that allow you to have a seamless appointment and interaction with your customer and support your employees, what they're doing, you know, that's what we're all about and adding a hundred dollar fee or laying off and leaving an employee behind that had built that and had made that possible just seemed like a level of disloyalty that would kill the dream of the company forever. So that was the predicament I was in, but I didn't know how the employees felt about it and I didn't know how our customers would feel about it. So I was just honest and I went to the employees and I said, what do you think about this? What should we do? You know, should we do a layoff? Should we do a price increase? Like I really I don't think I could look myself in the mirror if we do one of those things, but what do you think? And the employees came up with this idea that blew me away. They said that why don't we have an anonymous program where people can volunteer pay cuts and other forms of volunteerism of building social distancing apps, connecting with companies like Float Helm that help with social distancing in a way or have technology that can be used to help with those things and and let's just, you know, slog through it and just stay together. And if we go down, we'll all go down together or if we make it through it, we'll all make it through it together. And it was like a it was like a spiritual level of anxiety and stress that I felt. And and like many people at Gravity, I was spending, you know, 14, 16, sometimes even 18 hours per day triaging emergencies and opportunities and people that needed help, customers that needed help. And so it seemed like just a really wonderful thing to try. I just I was so inspired by our team. But I was talking with my with with our chief operating officer, Tammy Kroll, who really was most responsible for for the senior leadership of the company day to day. And I was like, Tammy, I don't think this is going to work, because if it's voluntary, everybody's going to do like one percent and think somebody else can do more. But the opposite happened. A lot of people volunteered to go completely without pay for basically one defined amount of time or to cut their pay by 50 percent. We capped it, you know, at the highest paid people, we said 50 percent the highest and the lower paid people, we said 30 percent the highest. So we tried to do things, but the team ended up raising, you know, enough monthly resources of people volunteering their pay to eke out a break even during the worst months of the pandemic, which which blew me away. But what was even cooler was to see how inspired and wonderful. I mean, I just heard a story yesterday about two employees when there's contact tracing going to be required of restaurants, two employees just took the initiative to build a contact tracing app that we would just give for free to anybody, any small business that needed it, whether they're a customer or not, without any strings attached. We went out identifying all sorts of solutions. We have a partner that's like float helm for the coffee shops. It's called Joe coffee. And it basically gives Starbucks quality order ahead technology and now later point of sale technology to mom and pop coffee shops. And so coffee shops that use that didn't experience a decline in their revenue and ones that didn't use it, experienced a 70 percent decline. So, you know, there were some industries like yours that were the most hard hit, where it's very little that anybody can do, but still do everything you can because every penny that we can try to help our customers with is a penny that they can use to try to make it through this and make it to the other side. So it was just amazing to be a part of. And one of the craziest stories was there's a guy named Austin Kameen at Gravity and he decided to keep this restaurant in Ballard, Seattle, Washington, neighborhood of Ballard open by being their Uber delivery driver unpaid for five or six weekends and delivering food to their loyal customers that would keep them open and also help them out with marketing and getting the word out in an amazing way. And then he built all this documentation for restaurants that want to do kind of their own service and opt out of the duopoly of Uber and Grubhub and those that are so taxing on small businesses. So, you know, we we've been able to claw through and it's because of our employees. And a lot of people will say, well, it's your leadership or your motivation. And if you ask my employees, they will tell you for sure that's not true. It's not that I think that people out there, there's a lot of really good people out there. And I think that we as leaders sometimes, and I'm pointing the finger at myself more than anybody else, we demotivate our teams when we try to control them. We demotivate our teams when we try to over monitor them. We demotivate our teams when we are trying to do our best to lead them and do what we think is necessary. And a lot of people out there, I would say the majority, they don't lack for motivation, especially for something as important as the type of self help, self caring that you all provide. I think you're going to attract people that are very motivated to be a part of that. But I think what we need to do is invest not so much in motivation for employees, but invest in their capability and their license. Give them a platform to stand on and then see how they shine. And so, you know, this crisis was the second time in my life that something hit me that I thought I couldn't imagine because in 2008 it was like that's going to be the worst ever. And I was not prepared, but we made it through in a similar fashion. Then I said, never again, I'm going to be prepared for another 2008 anytime. And 2020 was almost three times as bad for us. And our teams just pulling together and we're getting through it every day. So, you know, I could keep talking forever, but I want to open it up to questions. I want to open it up to you all and hear where you want to take the conversation. But thank you so much for having me. And for those of you that use gravity payments, thank you so much for, you know, being the reason that I go to work every day and the people that I love working next to go to work every day.