Thank you and good morning everyone and welcome to MIND’s conference call. Before we begin, I would like to point out that during this call we will discuss certain financial information that is not prepared in accordance with GAAP. The company’s management uses this financial information and internal analysis in order to exclude the effect of acquisitions and other significant items that may have a disproportionate effect in a particular period. Accordingly, management believes that isolating the effects of such events enables management and investors to consistently analyze the critical components and results of operations of the company’s business and to have a meaningful comparison to prior periods. Also, this call includes information that constitutes forward-looking statements. Although we believe that expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include but are not limited to the effects of general economic conditions and such other risks as discussed in our earnings release and at greater length in the company’s filings with the SEC. MIND may elect to update these forward-looking statements at some point in the future, however, the company specifically disclaims any obligation to do so. Yesterday, MIND reported the results of its first quarter 2011. The financials can be found in our Form 6-K and on our website. On the call today from MIND is Mrs. Monica Iancu, MIND’s CEO. I would now like to turn the call over to Monica. Monica, please go ahead.

Thank you Andrea, and good day ladies and gentlemen. In our call today I will summarize our major achievements in the first quarter of 2011 in this console business. You can find the full financials that we reported yesterday on our website. Non-GAAP revenues were $4.8 million excluding a one-time stock-based compensation granted to a customer in an amount of $332,000. GAAP revenues were $4.5 million compared with $5.3 million in the first quarter of 2010. We mentioned in the past that most of our customers require a lengthy process before they order our products, and in many cases they also delay the implementation due to reasons that are not related to us. Our sales process is often subject to delays because before we can sell our software to most of our customers, they contact lengthy and complex approval in the purchasing process. They also tend to change their mind multiple times during the process. The length of the decision process includes the time needed for the service provider to determine and announce its specific requirements that change during the process most of the time, the selection period and the legal and purchasing procedures. Only after these stages in the process high level approvals that are necessary in order to commit to the significant resources required to our acquisition and implementation of a billing solution are being sought and at that point the whole process may start from the beginning. Thus the sales cycle is long and requires resources and patience. In 2010 we announced four new customers, meaning we successfully completed the long and resource-exhausting cycle I just described. Some revenue from some of these deals that was supposed to be recognized in Q1 based on percentage of completion was deferred to future quarters since the implementations were delayed…

[Operator Instructions]. Our first question comes from Pierre Jacobson. Please go ahead.

Thank you for the clarification on the warrant. With respect to the revenue that you see being delayed in the year, could you give us an idea of what is the magnitude of that revenue that you saw being delayed?

Unfortunately, I cannot give you a specific magnitude as we don’t give any estimates for future revenues. It is not something that I am willing to disclose.

Understood. Can you indicate whether or not you expect to catch up all the revenue or whether this delay will then impact the entire year?

We expect to be able to catch this revenue till year end.

Okay, thank you very much. Your performance over the last couple of years has been excellent.

Thank you Pierre, and thank you for your messages on the message board, and I really enjoying your analysis.