Good afternoon ladies and gentlemen, and welcome to the fourth quarter 2008 Pure Cycle Corp. earnings conference call. (Operator Instructions) I will now like to turn the presentation over to your host for today's call, Mr. Mark Harding. You may proceed, sir.

Thank you, [Erica], and I'd like to welcome you all to our fiscal 2008 year-end financial results. The slides are available for this webcast on our website at purecyclewater.com. If you follow the links from that webcast, that will get you over to each individual slide, and then I will try and note the transition of the slides as we move through the presentation. For today's call I'd like to spend some time over viewing some of the key activities our company's working on, and then proceed to the financial overview later in the presentation. With that I'll get started, and the first slide if we can advance it, that's our Safe Harbor Statement, that statements that are not historical facts contained in this presentation are forward-looking statements, and involve risk and uncertainties that cause actual results to differ from projected results. You can read the balance of the Safe Harbor Statement, but it's a fairly standard Safe Harbor Statement concerning the information that we're communicating in this call. What I'd like to do today, if you'll advance to the next slide, is really summarize some of the significant advance, including updates, to our service area and the Lowry Range activities. I'd like to give you an update on the well enhancement, which is the company's development of a tool and a process for stimulating well production here in the Denver area. Talk a little bit about our tap participation fee, which is our balance sheet impact as a result of the acquisition of the Arkansas River assets. Talk a little bit about the remaining obligations under our CAA, as well as an overview of where our water tap fees are. A brief update about the Colorado housing market; I'm sure you have enough information about some of the national…

Thank you for your participation in today's conference. This concludes your presentation. You may now disconnect and have a wonderful day.