Good morning, and welcome to the Acorn Energy First Quarter 2015 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Michael Barth. Please go ahead sir.

Thank you. Many of the statements made today in the presentation and our responses to your questions are forward-looking. These statements are subject to various risks and uncertainties. In particular, the performance of our operating companies in 2015 and future years is subject to various risks and uncertainties including, risks associated with meeting performance milestones; political risks associated with conducting business with government customers; and risks of possible costs overruns associated with fixed price projects. There is no assurance that Acorn or its operating companies will be able to achieve its goals for growth in 2015 and future years. Our ability to execute on our plans for 2015 and beyond is in large part dependent on DSIT generating the anticipated cash flow from operations of which there can be no assurance. A complete discussion of the risks and uncertainties which may affect Acorn Energy and the businesses of its operating subsidiaries is included in the risk factors and the company's Form 10-K filed by the company with the Securities and Exchange Commission. Please note this event is being recorded. Thank you.

Thank you, Michael. Welcome to the Acorn Energy first quarter earnings call. I'm joined on the call by our CFO, Michael Barth, who just read the Safe Harbor statement; our Chief Operating Officer, Joe Musanti; Walter Czarnecki, our newly appointed CEO of OmniMetrix; and Benny Sela, the CEO of DSIT. They will answer your questions at the end of my prepared remarks. The focus of Acorn is three operating units providing resiliency through protecting energy infrastructure. That energy infrastructure may be protecting critical oil terminals like we do at DSIT or the backup power systems for critical communication systems for major telecom customers of OmniMetrix or key transformers and distribution switches like we perform at GridSense at places like the Sony Tennis Center in Florida, Wrigley Field in Chicago. Let’s first talk specifically about each business’ operating performance and then how we are seeking to improve the value of each business by increasing sales, margins and operating profit. DSIT revenue increased 7% to $3 million versus the same period a year ago. This is due to an increase in our lower margin, non-navel real time and embedded hardware and software business. Our first quarter loss decreased slightly to $174,000 due to lower SG&A costs. DSIT is doing two things well. First, they continue to expand the number of navies purchasing systems and solutions from them. Second, based on successful project execution and support they are expanding the number of opportunities and projects with these navies. In late 2011, we received a $12.3 million order, which was the largest order in history at that time. We’ve completed this installation and are now discussing three projects; each multiple is larger than the 2011 project. In 2013, we then landed a $14 million from a Southeast Asian nation and we are discussing several…

Thank you. We will now begin the question-and-answer session. [Operator Instructions] We have a question from George Deming, Deming Investments [ph]. Please go ahead sir.

Hi, good morning, John.

Good morning, Ged.

Very interesting analysis. I wonder if you could just go over the outlook for cash burn and the source of additional cash for the remainder of the year.

Thanks, Ged. So one of the things we talked about pretty extensively was relying on the loan agreement that we’ve entered into with DSIT to provide us with cash and we believe that DSIT is going to be generating a substantial amount of cash in the coming year and we believe that the cash that we have on the balance sheet plus that cash is going to allow us to run the businesses. And we are focused of course on a number of cost saving initiatives and things don’t always go as you planned, but we are working hard on increasing sales and that’s basically what we’ve said. We think that we’re going to be able to take about $5 million of cash, borrow up to $5 million in cash out of DSIT and we have – you can see from our balance sheet, we have about between all the different companies about $2 million in cash right now on the balance sheet.

Okay. Thank you. Any update on the NASDAQ listing issue?

As of May 08, we moved from the NASDAQ global market to the NASDAQ capital market, and we have until July 13 to meet the $1 per share listing requirement. At that time, we have the opportunity if we have the stocks not over $1, we have the option to present a plan of how we plan to get the stock over $1 per share and we can request an additional 100 days to 80 days to achieve that compliance. So, our understanding is that’s often granted across, so there can’t be any assurance that that’s going to happen, but we think we got a good plan and hopefully we can convince them to reinstate us.

Well, that would be great and I think the kind of momentum you might be able to derive [indiscernible] I think if people are really paying attention it should go over a $1 by then.

I hope so. I hope the complexion of the company, once we, I think all the managers of the business know that single digit growth for small companies like ours are not – is not acceptable and we got plans in place to exhibit greater growth and hopefully that will get people’s attention that we really have identified some important very exciting markets.

Absolutely. Well thanks very much. I appreciate it.

Thanks, Ged. I don’t think there are any more questions at this time.

We have no further questions. I’d like to turn the conference back over to John Moore for any closing remarks.

I just want to assure our shareholders that our minds, we’re not confused we know what we have to do. We have to increase our sales. We have to cut our costs. We have to increase our ability to be able to satisfy our customers; and we’re completely committed to doing that and we appreciate our shareholders patience in these challenging times. Thank you very much.

The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.