Good afternoon and welcome to the Inpixon's Earnings Conference Call for the First Quarter Ended March 31, 2018. [Operator Instructions] Participants of this call are advised that the audio of this conference call is being broadcast live over the Internet and is also being recorded for playback purposes. A replay of the call will be available approximately one-hour after the end of the call through June 15, 2018. I would now like to turn the conference over to Scott Arnold, Managing Director of CORE IR, the company's Investor Relations firm. Please go ahead, sir.

Thank you, Steven. Thank you for joining today's conference call to discuss Inpixon's corporate development and financial results for the first quarter ended March 31, 2018. With us today are Nadir Ali, the company's CEO; and Wendy Loundermon, VP Finance. At 4:05 p.m. Eastern Time today, Inpixon released financial results for the first quarter ended March 31, 2018. If you have not received Inpixon's earnings release, please visit the Investors page at www.inpixon.com. During the course of this conference call, the company will be making forward-looking statements. The company cautions you that any statement that is not a statement of historical fact is a forward-looking statement. This includes any projections of earnings, revenues, cash or other statements relating to the company's future financial results; any statements about plans, strategies or objectives of management for future operations; any statements concerning proposed new products; any statements regarding anticipated new relationships or agreements; any statements regarding expectations for the success of the company's products in the U.S. and international markets; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. These statements are based on expectations and assumptions as of the date of this conference call and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Some of these risks are described in the section of today's press release titled Cautionary Note on Forward-Looking Statements, and in the public periodic reports the company files with the Securities and Exchange Commission. Investors or potential investors should read these risks. Inpixon assumes no obligation to update these forward-looking statements to reflect future events or actual outcomes and does not intend to do so. In addition, to supplement the GAAP numbers, the company has provided non-GAAP adjusted net loss and net loss per share information in addition to non-GAAP adjusted EBITDA information. The company believes that these non-GAAP numbers provide meaningful supplemental information and are helpful in assessing our historical and future performance. A table reconciling the GAAP information to the non-GAAP information is included in the company's financial release. I will now turn the call over to Nadir Ali, Inpixon’s CEO.

Thanks, Scott, and good afternoon, everyone. Welcome to our first quarter 2018 earnings call and corporate update. First, I want to thank you for your continued support in Inpixon. I know this past year has been challenging. With today’s call, I hope to assure you that the company cares significantly about its shareholders and all those who are invested in our collective success. I share the frustrations echoed by our shareholders in many respects in connection with some of the more recent transactions of the company. Therefore, I want to ensure you understand why these transactions were important for laying the foundation on which the company can carry out its objectives in order to create greater shareholder value going forward. Much has been accomplished in the first quarter of 2018 and more recently, which we believe will position Inpixon to execute on its business plan and growth strategy. We have improved our balance sheet, we are implementing certain technology enhancements, and expanding our product offerings and adding a number of channel partners with respect to our IPA solutions. In addition, we regained compliance with NASDAQ's minimum stockholder’s equity requirement and have filed a Form-10 registration statement in connection with the spinoff of our VAR business into a separate, publicly traded wholly-owned subsidiary that will strengthen both businesses respectively. Allow me to take this opportunity to recap where we are as a business today to help clarify any confusion and hopefully address the disconnect we see in our market value. First of all, we have just under 7 million of cash left in the bank as of March 31 resulting from the Q1 financings. The rest of the funds raised in Q1 were primarily used to pay down accrued liabilities and payables. This not only improved our balance sheet, but addressed…

Thank you, Nadir. Total revenues for the three months ended March 31, 2018, were $2.1 million compared to $13.5 million for the comparable period in the prior year. This $11.4 million decrease or approximately 84% is primarily associated with the decline in revenues earned by the infrastructure segment as a result of supplier credit issues and a $2 million decrease in revenue resulting from the adoption of the new ASC 606 revenue recognition policy beginning in January 2018. For the three-months ended March 31, 2018, Indoor Positioning Analytics revenue was $848,000 compared to $981,000 for the prior-year period. Infrastructure revenue was $1.2 million for the three months ended March 31, 2018, and $12.5 million for the prior year period. Gross profit for the quarter ended March 31, 2018, was $1.2 million compared to $3.3 million for the comparable period in 2017. The gross profit margin for the three months ended March 31, 2018, was 59% compared to 24% during the three months ended March 31, 2017. This increase in gross margin is primarily due to the decrease in lower margin storage and maintenance sales. Indoor Positioning Analytics gross margin for the three months ended March 31, 2018 and 2017 were 72% and 65% respectively. Gross margins for the infrastructure segment for the three months ended March 31, 2018 and 2017 were 50% and 21%, respectively. Net loss for the three months ended March 31, 2018 was $6.2 million compared to $6.1 million for the prior-year period. This increase in loss of $100,000 was attributable to the changes described for the various reporting captions discussed above. GAAP net loss per share for the quarter ended March 31, 2018, was $1.85 per share compared to a net loss per share of $83.63 for the comparable period in 2017. Pro forma non-GAAP net…

Thanks Wendy. We operate in a market with exceptional growth potential. The Indoor location market is estimated to grow from $4.72 billion in 2016 to $23 billion by 2021 at a compound annual growth rate of 37.4%. We intend to capture significant portion of this market share through the adoption of our cutting-edge products and services. We are confident in our approach to product development and market deployment and look forward to continuing to report on significant developments in due course. As we stated in our last earnings call, we have created a stronger foundation for the future through some difficult and challenging times for our company. We face these challenges and came through together as a team to develop and implement the requisites for changing our course for strengthening our balance sheet, for driving new product enhancements, for establishing a foundation that we are confident we’ll drive growth in markets that will prove our promise and create lasting shareholder value. With that Steven, we are ready to open up the call to questions.

Thank you again for your support and interest in Inpixon. We look forward to updating you on our continued progress.

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