|Mark Harding||President and Chief Executive Officer|
|Bill Smith||William Smith and Co.|
|Bill Cunningham||Private Investor|
Good day, ladies and gentlemen. And welcome to the Pure Cycle's Fourth Quarter 2017 Earnings Call. All lines have been placed on a listen-only mode, and the floor will be open for your questions and comments following the presentation [Operator Instructions]. At this time, it is my pleasure to turn the floor over to your hosts, President and CEO of Pure Cycle Corporation, Mark Harding. Sir, the floor is yours.