Greetings, and welcome to the Sachem Capital Third Quarter 2018 Business Update. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. David Waldman, Investor Relations for Sachem Capital. Thank you. You may begin.

Good morning, and thank you for joining Sachem Capital Corp's third quarter 2018 business update conference call. On the call with us today is John Villano CPA, Co-Chief Executive Officer and Chief Financial Officer of Sachem Capital. The company issued a press release yesterday containing third quarter 2018 financial results, which is also posted on the company's website. In addition, the company filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission yesterday, which can be accessed on the company's website as well as the SEC's website at www.sec.gov. If you have any questions after the call or would like any additional information about the company, please contact Crescendo Communications at 212-671-1021. Before Mr. Villano reviews the company's operating results for the third quarter of 2018 and the company's financial condition at September 30, 2018, we would like to remind everyone that this conference call may contain forward-looking statements. All statements other than statements of historical facts contained in this conference call, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements. The words anticipate, estimate, expect, project, plan, seek, intend, believe, may, might, will, should, could, likely, continue, design, and the negative of such terms and other words and terms of similar expressions are intended to identify forward-looking statements. These forward-looking statements are based largely on the company's current expectations and projections about future events and trends that it believes may affect its financial condition, results of operations, strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to several risks, uncertainties and assumptions as described in the company's Annual Report on Form 10-K for 2017 filed with the U.S. Securities and Exchange Commission on April 2, 2018. Because of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this conference call may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although, the company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance or achievements. In addition, neither the company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The company disclaims any duty to update any of these forward-looking statements. All forward-looking statements attributable to the company are expressly qualified in their entirety by these cautionary statements, as well as others made in this conference call. You should evaluate all forward-looking statements made by the company in the context of these risks and uncertainties. With that, I will now turn the call over to John Villano. Please go ahead, John.

Thank you, David, and thanks to everyone for joining us today. I'd like to start by providing an update on our financial condition and our operating results for the three months ended September 30, 2018. Operating results for the nine months ended September 30, 2018 are available in our press release and our recently filed 10-Q. I will gladly answer any questions relating to the nine month performance during the Q&A at the end of this call. I'm pleased to report that Sachem continues to deliver strong top-line and bottom-line results. We reported another quarter of strong year-over-year revenue growth and improved profitability. Total revenues and net income for the three months ended September 30, 2018 were approximately $3.05 million and $1.96 million respectively, reflecting a 57% and 49% increase in comparison to the third quarter of 2017. Net income per share for the 2018 period was $0.13, compared to $0.12 for the 2017 period, an 8.3% increase. This EPS increase reflects our continued ability to put capital to work in a profitable and an accretive manner, particularly as the weighted average of basic and fully dilutive number of shares outstanding increased 39% over the 2017 period. We believe the key factors to our continued success are disciplined underwriting, extensive due diligence and flexibility in structuring loans to suit the needs of our borrowers, providing us a distinct advantage in this market. On an ongoing basis, we closely monitor all borrower activity throughout the long-term. Finally, since we portfolio all of our loans, we look to strengthen our relationship with the borrower. As a result of our continuing operational success, we recently paid an increased quarterly dividend of $0.12 per share, a 9% increase over our most recent quarterly dividend payment. We have also maintained a solid balance sheet and…

Thank you. [Operator Instructions] Mr. Villano, there are no questions at this time. I'll turn the floor back to you for any final comment.

Once again, I'd like to thank everyone for participating in our third quarter conference call. We look forward to updating you again next quarter. Thank you again.

Thank you. This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation.