Hi, good evening everyone and good morning for our investors dialing in from the U.S. welcome to Ohmyhome Q3 2024 growth updates. Before we start, we would like to quickly go through the important notice and disclaimers. This presentation contains forward-looking statements that reflect our current expectations and view of future events, all of which are subject to risks and uncertainties. If used, the words believe, may, will, estimate, continue, anticipate, intent, expectations and similar expressions are intended to identify forward-looking statements. Forward-looking statements give our current expectations or forecast of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements are likely to address our growth strategy, financial results and product and development programs. You must carefully consider any such statements and should understand that many factors could cause actual results to differ from our forward-looking statements. These factors may include inaccurate assumptions or a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statements can be guaranteed and actual future results may vary materially. Factors that could cause actual results to differ from those discussed in forward-looking statements include, but not limited to, assumptions about future financial and operating results, including revenue, income, expenditure, cash balances and other financial items. Our ability to execute our growth strategies, including our ability to meet our goals, current and future economic political conditions, our capital requirements and our ability to raise additional capital which we may require. Our ability to attract customers and further enhance our brand recognition, our ability to hire and retain qualified management personnel and key employees in order to enable us to develop our business trends and competition in the brokerage and related industry and other assumptions described in this presentation underlying or relating to any forward-looking statements. We describe certain material risks, uncertainties and assumptions that could affect our business, including our financial conditions, results of operations, Baltimore [ph] Filings we base our forward-looking statements on our management belief and assumptions based on our information available to our management at the time the statements are made. We caution you the actual outcome and results made and are likely to differ materially from what is expressed, implied or forecast by our forward-looking statements. Accordingly, you should be careful about relying on any forward-looking statements. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise after the date on which statements are made or to reflect the occurrence of unanticipated events. You should read our public filings and the documents that we refer to in this presentation with understanding that our future results may be materially different from what we expect.

Hi everyone. Good day to you. I'm Rhonda Wong, CEO and co-founder of Ohmyhome. Thank you very much for joining us today. We founded Ohmyhome in 2016 and that's Race Wong and myself in the image. We're sisters. Born in Malaysia, raised in Singapore. We started Ohmyhome with a background in property transactions and also trading. And we realized that there is a huge market gap where a lot of people who are selling and buying infrequently do not quite have the right knowledge or information when it comes to real estate transactions. And we're very much relying on real estate agents to provide information. So we have since become Singapore's largest integrated property transactions and services platform. Many people call us the One-stop Shop which means that aside from buying, selling and renting with Ohmyhome, you can also secure mortgage, legal services as well as renovation and property management. Our vision is to be the most trusted and comprehensive property solution for everyone. And by everyone we mean people including those who can't afford services or agencies as well as the rest of the market from investors to your daily folks buying and selling for the first time. In order to achieve scalability and to be able to serve more consumers across the world we then use technology to bring speed, ease and reliability to property related services. So we're very happy to share and present our results today and today's presentation will be led by our Director of Finance, Leo [ph] Li.

All right, thank you Rhonda. So first off, just a quick overview of our latest cap table. So our ticker symbol is OMH traded under the NASDAQ Exchange. Our IPO was last year March 21 and our current share outstanding is at 23 million shares as of the latest of yesterday. Now share price as of yesterday was $0.44 USD and our last 90 days average trading volume is 135,000 shares per day. Analyst ratings by Maxim and Zacks are sitting at $1.5 and $3 respectively. On 6 September 2024, the founders, which are namely Race and Rhonda Wong, have actually exchanged half of their monthly salaries from January to August 2024 into ordinary shares and those shares were issued on October 4, 2024. And so this green section here that you see are the additional shares that are being acquired by the two founders. This has shown that the founders believe in the business and is committing -- basically it's committing, committed to the business and willing to come in more later on. Later, we will share the reason why and primarily is because of the growth of the business that we are seeing. So we are a property one stop shop and this diagram encapsulates all the businesses that we do, so our customers can come in from every part of their lifecycle with [Indiscernible]. So let's say if your if your property potential buyer or a seller usually will start with the research section where you will look at free blogs valuation of the homes and look for guides and some of those who may be thinking about doing it by themselves with the time and energy to do so, they will do so via our DIY platform with verified listings by homeowners. The majority of our…

[Operator Instructions]

Hi Alan. So together with us we have one of our analysts on the call, Mr. Allen Klee from Maxim.

Hi, can you hear me?

Yes.

Yes, yes, we can hear.

Oh, hello. A couple things stood out. One, I heard you say that you increased your cash levels. How? I was curious how you were able to do that.

Well, as we have mentioned in the presentation earlier that we are very focused on of course, our operating efficiency. So what happened is essentially we, we have closed a lot more deals and we also have closed a lot more renovation contracts that allow us to build our cash flow in the short period of time. And also our losses has been reduced significantly due to some of the, due to some of the initiatives that were taken in the second half of the year.

So that...

Sorry, Ellen.

Yes, no, go ahead.

I also saw Derek asking some elaboration on the cost of generation. So this is not rocket science, essentially is that we have looked at all of our internal headcount, we have looked at all of the resources and spending that we have. We have optimized them to make sure that every single dollars and cents are being optimized and achieved the ROI that we want them to achieve. And we have directed some of the resources into marketing so that we are focusing on generating revenue and growth as well. So this is the results of both an increase in sales and revenue that we've seen in the third quarter as well as a reduction in the cost that we have been spending.

So our acquisition into property management has assisted us as well. So with the thousands of units under management, we're able to better offer our services without engaging into every single customer acquisition cost. For each of these conversions, we have also increased our partnerships. So we've partnered with various partners, even from SMB coffee shops to different finance insurance partners. And this has helped us increase our lead generation as well. So in the past, before all of these activities, as you can imagine, all of our acquisition would have to be done by a lot of paid marketing. So as a company running into our eighth year right now, we're definitely looking into how we can generate more activities to increase our organic reach into customer acquisition. So we are currently the highest rated brokerage prop tech company in the entire country or even in the region that we're in, in Southeast Asia. We have over 8,000 five star reviews. So one of the slides that we had with all the top brokerages in where we are in Singapore, you'll find that if you search their reviews, it would not be comparable to Ohmyhome. And the reason is exactly why we started Ohmyhome because actually in the industry there are a lot of complaints about agents, dishonesty, opaque information, costly services, so we created Ohmyhome to hopefully, be able to better serve our customers. And thus far we have done that to a large degree where we need to keep growing is ensuring that our good services, where we're able to sell faster than almost any other company in the market, we're able to transact faster, we're able to achieve higher prices. We have achieved this item in terms of KPIs, but what we haven't achieved is that we have not reached out in terms of our marketing, our branding to the rest of the market. As you can imagine, if you are selling a home and that Ohmyhome can sell it faster and at a higher price for you, it's quite a no brainer to engage us. If you're renovating your home and you know that we can be on time, we're cost competitive or designs are excellent, again, it's a no brainer to engage us. So definitely our goal as we continue to cost optimize is also to expand our reach more organically so that we don't have to keep increasing our marketing costs linearly. And with that reach we would like to be able to keep reporting to stronger numbers and be profitable.

We have another question. Sorry Allen…

I was just wondering if you could give us some commentary on the Singapore housing market overall and the economy.

The Singapore housing market is generally very vibrant and the reason it is so is because there has been a lot of government regulations, pricing control, tax control to ensure that the market doesn't get overheated. So what happens? Like how can it be vibrant when it's controlled to not be overheated? So what happens here is that over the last 10 years the government is trying their best to make sure that Singapore doesn't become like a speculative property market. So over the last 10 years what has happened is that most real estate owners in Singapore are very cash rich and that means that in the event of higher interest rates, in the event of a not so good economic situation, there is no need for anyone to both sell their homes or sell at a huge discount. So most of the time, because of the taxation here, property owners today who have owned multiple properties tend not to dispose of their properties. They would dispose of other assets because it cost them more in future if they wanted to acquire the property. Again because of the way tax works in Singapore. So that's one part. The other part in terms of the market is that overall when the interest rate marks and the interest rates are high across the world, generally Singapore interest rates are quite low. So when it was high we were high for us is about 3% to 4% and then low for us is about 1% to 2%. So we're seeing interest rates coming down. So we're seeing more activities as well. Overall in the market in terms of the Singapore transactions dynamics, where it comes to our business, we're not quite concerned if the market goes up or down as long as…

All right, Allen, do you have any further questions or comments?

I think you mentioned this, but if you could highlight kind of how the combination of using the property management business and your AI tool have been able to grow business and where you think you are on that in terms of like the opportunity of continuing to do that. Thank you.

Thank you, Allen. And it's a good question on top of Derek question about HomerAI. The beauty about HomerAI is not just because it's trendy in the AI world. I was just in LA and Vegas two weeks ago and we were actually in conversations with some of the prop tech names that you saw on the slides. We're actually pretty good friends so we're always exchanging ideas. And the beauty is that the AI that we have already implemented in Singapore in Ohmyhome, it's actually not seen and not available in the state. So, since the time we listed, I know a lot of questions that came in before was about how are we expanding into the States as well. It's always definitely a work in progress because it's a much larger market for us to apply a good technology. So HomerAI, the beauty about that is that of course in the construction and the building of HomerAI, it cost us a lot. So why does a company that runs such high gross margin businesses across all streams continue to run losses in the past eight years? The reason is very much because the building of this technology is very expensive. When we build this technology, whether it's for 100 users or a million users, it costs pretty much the same except for server costs. But the building of it in terms of the tech development cost is pretty much the same for us. The beauty of Ohmyhome and the HomerAI technology is that we have. It's ready. So right now we have this amount of users that's currently using our platform. 10,000, 20,000, 30,000. But whether it's 10, 30,000 users or a million users, the platform actually becomes more and more alive the more users we have. And…

Right, thank you Rhonda. But to add on to part of the question, to add on to your answer. Right, so one of the questions that I think Allen was asking was regarding how these two products have been integrated with each other. So this is on the right side is actually a screen of the application of simple app, which is the condominium app that's being used by the over 9,000 units under management. So on this app, as you can see, you can book various activities, look at announcements, requests for services and then at the bottom right corner you can see HomerAI. This is where you can click in and start registering your home. And here is a hook that we can hook the homeowners to let them have a price discovery process for their home. So a lot of times actually most people may not think actively about their home or thinking about selling the home because they do not know what's the latest price of their home. And after the price discovery process and this is actually an important hope for them to get connected to HomerAI. And that's how we convert users from this platform to our platform. And as a matter of fact we also getting these two platform to be more and more integrated. So in the future it could potentially be so highly integrated that you can just connect one app to another with ease. Right. So to answer I think Linda's [ph] question as well with regards to what we're doing to attract new investors to increase press release in the U.S. yes, we will very much like to resonate what Rhonda mentioned, but the core focus of us is still on the business itself and focusing on executing our…

Thank you everyone and do check out our latest videos that was done for the United States. We toured some properties in LA and we're just released those videos, so do follow us for all of the different updates that we have done at Ohmyhome. It's been exciting. We've been quite happy with our work here, so we hope to see you again at our next update.

Right thank you everyone. So for any questions or any further information feel free to visit our website at www.ohmyhome.com and our Investor Relations website, ir.ohmyhome.com. And if there is any questions, feel free to email ir@ohmyhome.com. Thank you. And have a great day.