Good day and welcome to SG Blocks’ Fourth Quarter and Full-Year Results 2019 Earnings Conference Call and Webcast. Today's conference call is being recorded. At this time, I would like to turn the conference over to James Carbonara of Hayden IR. Please proceed, sir.

Thank you and good afternoon. Thank you all for joining us for the SG Blocks’ first quarter and full-year 2019 earnings call. Your host today is Mr. Paul Galvin, Chief Executive Officer. Press release detailing these results was issued this afternoon just after 4 pm Eastern Time and is available on the Company's website sgblocks.com. Before I turn the call over to management, please remember that certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation, including statements regarding the Company's future operations and financial position, business strategy and plans and objectives of management for future operations are forward-looking statements. In some cases, forward-looking statements can be identified by terminologies such as believe, may, estimate, continue, anticipate, intend, should, plan, expect, predict, potential or the negative of these terms or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of risks and uncertainties and assumptions describe including those set forth in our filings with the Securities and Exchange Commission which are available at www.sec.gov. You should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur. Finally, this conference call is being webcast. The webcast is available in the Investor Relations section of our website at sgblocks.com. With that, I will now turn the call over to Chief Executive Officer, Paul Galvin, for his prepared comments. Paul.

Thank you, James, and welcome to the SG Blocks fourth quarter and full year 2019 financial results conference call. Everyone in the SG Blocks family wishes, health and safety to all those who are impacted directly or indirectly by the pandemic and we are most grateful for your time today. This was a strong end to a transformative year for SG Blocks, and due to the Company exhausted efforts over the previous year, we anticipate being cash flow positive by year end. We entered 2020 position to receive the benefits of the activities and strategies implemented in our transition to a residential license model. During the past year, we took steps to capitalize our business, keeping dilution to a minimum, enabling us to enter the New Year with a clean cap structure. Our new business model for our residential business enabled us to focus on what we do best, evangelizing the benefits of our technology, while appropriate third parties take on the responsibility and the financial burdens of deployment. As a result, we significantly streamlined our corporate operation, shedding fixed costs and reducing our cash burn rate. As we begin to recognize net margin royalty revenue streams, we should be positioned to scale the Company through the execution of additional licenses. We are clearly at an inflection point at SG Blocks and our commitment to product distribution and shareholder value has never been stronger. The most impactful achievement to our business operations in 2019 was the transition of our residential business from project based construction model with a heavy initial investment to a royalty based fee model. This change effectively eliminated the drag on our overall portfolio and enabled this portion of our business to be a meaningful contributor to our financial results almost immediately. The residential market represents an…

Thank you. This does conclude today's teleconference. You may disconnect your lines at this time and have a great day. End of Q&A: