Greetings and welcome to DropCar's First Quarter 2018 Earnings Call. 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, Daniel Gelbtuch.

Thank you. Welcome and thank you for joining us on today's call. We will review our first quarter, which ended March 31 2018, on the results of this quarter and provide a corporate update. Our update will include details of our business developments and prospects. The prepared remarks will be provided by Spencer Richardson, our CEO. Before turning the call over to Spencer, I would like to make the following remarks concerning forward-looking statements. All statements in this conference call other than historical facts are forward-looking statements. The words, anticipate, believe, estimate, expect, tend, will, guide, confidence, targets, projects, and other similar expressions typically are used to identify forward-looking statements. These forward-looking statements do not guarantee the future performance that may involve or are subject to risks, uncertainties and other factors that may affect DropCar's business, financial position, and other operating results, which include, but are not limited to, the risk factors and other qualifications contained in DropCar's filings with the SEC, to which your attention is directed. Therefore, actual outcomes and results may differ materially from what is expected or implied by these forward-looking statements. DropCar expressly disclaims any intent or obligation to update these forward-looking statements. At this time, it's now my pleasure to turn the call over to Spencer Richardson, Chief Executive Officer of DropCar. Spencer, please go ahead.

Thanks, Dan. Good afternoon and welcome to the call. What I wanted to do before we kind of dig in is just address the 10-Q filing, just to give a quick update there. So I want to make it clear that our quarterly financials have been finalized. The numbers there are locked. And really what we're doing is taking our chance, our time this first time out of the gate and for our first quarter to adjusting the language. We want to make sure that everything in there has no issues and is just iron-tight. And so, I want to make that very clear upfront. Again, there is no changes to the Q and I want to be able to dig in now to the business side, but I wanted to kind of clarify that upfront. So, as you all well know, this has been an exhilarating and a dynamic quarter in our march towards becoming the de facto platform for next-generation urban mobility. For consumers, we are solving massive pain point associated with car ownership. We free customers from all the hassles of owning and driving a car in the city by delivering and parking their car, their own car, on demand using our mobile app, cloud-based system, and professional drivers. For OEMs, car rental companies, and shared mobility providers, we are enabling technology that unlocks the potential of their evolving models for car ownership, rental and subscription. For them, we fill the costly and complex logistics of ensuring the right vehicle is in the right location at the right time, helping them deliver on their core promise to their own customers. During the first quarter, DropCar evolved structurally. We went public via a reverse merger with WPCS on January 30, just days after hiring our CFO, Paul Commons.…

[Operator Instructions] Our first question comes from the line of David Smith, a private investor. Please proceed with your question.

Just curious, looking at the financials and the gross profit, how does the Company build for its B2B services and how does it pay out, is it transactional, is it subscription?

This is Daniel. The B2B service is contractual for the most part and it is build out in an invoice manner for the most part, and it's on a movement by movement basis. So, we have a number of B2B clients and each B2B client has a different rate schedule, and on a movement by movement basis they are invoiced and we receive payments in the normal course of business.

This is Spencer. I just wanted to – let me just clarify real quick, so some of the – each contract account has its own flavor of billing as well, I would just clarify. So, sometimes on a per movement basis, other times on hourly basis, it really depends on the application that we are integrating for the business client.

So as a follow on, are there positives unit economics at this time, and I guess what's the average gross profit percentage that's aiming for?

So, it's a great question. I think at this time though it's not a question that, while we are very confident in where we're going to be, we feel comfortable answering just at this time.

Ladies and gentlemen, we have reached the end of the question-and-answer session and I would like to turn the call back to management for closing remarks.

This concludes our prepared remarks and thank you for listening to our call and thank you for staying in touch, and we will keep you updated on our progress going forward. Have a good day.

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