Excuse me, everyone, we now have John Baker, Executive Chairman and CEO of FRP Holdings, Inc., in conference. [Operator Instructions]. I would now like to turn today's conference over to John Baker.

Thank you, and good afternoon to you all. This is John Baker, and I'm Chairman and CEO of FRP Holdings. With me are David deVilliers, Jr., our President; John Milton, our CFO; and John Klopfenstein, our CAO. Before we begin, let me remind you that any statements made today, which relate to the future are, by their nature, subject to risk and uncertainties that could cause actual results and events to differ materially from those indicated in such forward-looking statements. These risks also include those listed from time to time in our SEC filings, including, but not limited to, our annual and quarterly reports. Our earnings for the quarter were $706,000 or $0.07 per share compared to $13,203,000 or $1.31 per share in 2018. Last numbers -- last year's numbers included an adjustment reducing income taxes because of the president's tax bill of $12,043,000 or $1.20 per share. As you know, after the sale of our warehouses last year, our earnings now come primarily from 4 sources. First, royalties and rents from aggregates operations, which we're at an all-time record in 2018. Second, rents from our 3 remaining commercial properties. Third, Dock 79, our apartment joint venture in Washington, D.C. And finally, investment earnings from the cash and bonds held for investment, generated by the sale. The results of the quarter also include about $1.7 million of onetime expenses, including a loss on a sale of a PG&E bond after their bankruptcy, due diligence done on properties that we examined in hopes of finding 1031 properties to reduce the tax effect of the sale, environmental and organization costs on Phase 2 of our Riverfront project in Bryant Street and finally, our annual stock options which were historically done in the second quarter but done in December this year. Having mentioned…

Thank you, John, and good day to those on the call this afternoon. As a follow-up to John's opening remarks, we've been busy initializing the redeployment of cash into potential future opportunities for the business. I'll provide greater detail about these opportunities as I get into highlights of our development section. So relative to our Asset Management segment, and to reiterate, most of this business segment was reclassified to discontinued operations during the year, including 1 warehouse facility, that an affiliate of Blackstone has an option to purchase for $11.7 million, pending the outcome of litigation with the current tenant relative to his first-right-of-refusal option, which should be some time in the third quarter of this year. Thus, our remaining Asset Management segment consists of 3 office buildings. This being said, total revenues for the quarter for this business segment were up 3.1% to $592,000 and operating profits for $261,000, an increase of 7.9% over the same period last year. The Mining and Royalty segment enjoyed a 17.6% increase in its revenues for the quarter just ended, increasing $327,000 over the same period last year to $2,187,000. Total operating profit in this segment was $1,950,000, an increase of 15%, also over the same period last year. I might add, this is the fourth straight quarter of increased revenues and what's more impressive is the fact that this past year produced the most revenue and operating profit this segment has generated in any year ever. With respect to Land Development and Construction, this segment, as of the beginning of the year, has now been renamed Development to more accurately describe our strategy going forward. Just as before, this business segment is the main driver behind value creation, therefore, it generates minimal revenues and incurs significant cost to accomplish its objectives. So…

Thank you, David. If there are any questions at this time, we'd be happy to entertain them.

[Operator Instructions]. Our first question will come from Curtis Jensen with Robotti & Company.

Just to double check the $88.8 million secured note. That's a mortgage on Dock 79 or is there other stuff?

That's correct.

Okay. Is your 10-K out yet or...

No, I think it'll be next week.

[Operator Instructions]. Mr. Baker, there are no more questions at this time.

Well, thank you all very much. We appreciate your interest in the company, and appreciate you joining us today, and we look forward to talking to you next quarter.

Thank you, ladies and gentlemen. This concludes today's teleconference. You may now disconnect.