Ladies and gentlemen, thank you for standing by and welcome to the Great Elm Capital Group, Inc. Second Quarter 2020 Financial Results Call. At this time, all participants are in listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker for today Adam Yates. Please go ahead, Mr. Yates.

Thank you, Carol, and good morning, everyone. Thank you for joining us for Great Elm Capital Group’s second quarter 2020 earnings conference call. As a reminder, this webcast is being recorded on Monday, February 10, 2020. If you'd like to be added to our distribution list, you can either email Investor Relations at greatelmcap.com or sign up for alerts directly on our website. The slide presentation accompanying this morning’s conference call and webcast can be found on Great Elm Capital Group’s website www.greatelmcap.com under Events & Presentations. A link to the webcast is also available on this section of our website, as well as in the press release that was disseminated to announce the quarterly results. I'd like to call your attention to the customary Safe Harbor Statement regarding forward-looking information. Also, please note that nothing in today’s call constitutes an offer to sell or a solicitation of offers to purchase our securities. Today's conference call includes forward-looking statements and projections, and we ask that you refer to Great Elm Capital Group’s filings with the SEC for important factors that could cause actual results to differ materially from these projections. Great Elm Capital Group does not undertake to update its forward-looking statements unless required by law. To obtain copies of the SEC filings, please visit Great Elm Capital Group's website under financial info and select SEC filings. Hosting our call this morning is Peter Reed, Great Elm Capital Group's Chief Executive Officer. I will now turn the call over to Peter.

Thank you, Adam, and good morning, everyone. Thank you for joining us today. I am joined this morning by our President and COO, Adam Kleinman; our CFO, Brent Pearson, and two senior members of our investment teams, Adam Yates and John Ehlinger. We will walk through an update on our Operating Companies, Investment Management, Real Estate and General Corporate business segments, as well as their associated financials. Where relevant in our prepared remarks, we will point you to the corresponding slide in the presentation that Adam referenced. Please turn to slide five. During the quarter ended December 31, 2019, we reported consolidated revenue, net loss and adjusted EBITDA of $16.6 million, $2.0 million and $3.4 million respectively. We are intently focused on growing both revenue and profitability across our verticals. Please turn to slide seven to discuss drivers of shareholder value. We have clear objectives in each of our verticals. In Operating Companies, we’re focused on acquiring undercapitalized companies with significant growth potential, both organic and through M&A. In Investment Management, we seek to increase assets under management in both GECC and in other investment vehicles managed by GECM. In Real Estate, we’re interested in partnering with owners and lessees to utilize our substantial tax assets. On a consolidated basis, our goal is to generate increased free cash flow through fiscal year 2020. We intend to achieve this goal through continued growth at Great Elm DME and Investment Management enhanced by reduced corporate overhead. Please turn to slide eight. It is very important for us to maintain long-term alignment with you, our shareholders. Our team collectively owns approximately 2 million shares or 8% of the Company. Including our Board of Directors and their funds under management, insiders collectively own circa 19% of the shares outstanding. We believe this fosters a…

Thank you again for joining us this morning to discuss Great Elm Capital Group’s second quarter 2020 financial results. We appreciate your support, and we look forward to creating long-term shareholder value together. Please do not hesitate to reach out to us if we can be helpful with anything and follow up, and have a great day.

Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect.