cbdMD improves working capital and operational stability, positions for growth as federal cannabis policy evolves

Were eliminated, working capital improved materially year over year and our capital structure complexity was significantly reduced. As we announced earlier today, we recently closed 2.25 million in additional financing. This transaction resulted in a temporary halt in our stock trading until the material event was publicly disclosed. Given the heightened trading activity this past week, we received numerous interests to raise substantially more capital. However, remain mindful of dilution and associated fees. We believe we were able to secure the financing at favorable valuation and establish a $20 million equity line of credit with minimal fees, providing us with significant flexibility to raise capital prudently under favorable market conditions. We continue to engage with several strategic opportunities that could help add revenue contribution dollars and bolster our product offering. We believe our strong balance sheet could help position us as a more attractive strategic partner with the wherewithal to weather regulatory uncertainty. In December 2025, cbdMD received formal confirmation from the NYC American that all prior compliance deficiencies had been fully resolved. This milestone removes a significant overhang and reflects the progress we've made in restoring financial stability and governance discipline Yesterday, the White House issued a significant Executive Order directing federal agencies to modernize federal cannabis policy, including accelerating the rescheduling of cannabis and expanding research and access pathways for cannabinoids. Importantly for the hemp and CBD industry, the Administration also highlighted support for exploring Medicare reimbursement pathways for legal full spectrum hemp derived CBD products under appropriate medical supervision. While these initiatives require additional administrative action and are not yet law, we view this Executive Order as an important direction that will signal that federal policy is evolving towards science based evaluation and healthcare integration. This is particularly notable given the uncertainty created by the restrictive hemp language, including HR 5371 legislation enacted in November. The Executive Order underscores that federal policy is not monolithic and that there is active work underway to reconcile public health, consumer access and scientific evidence. We believe cbdMD is exceptionally well positioned in this evolving environment. We were founded on THC free and broad spectrum CBD which remains the majority of our revenue. We operate with CGMP manufacturing, rigorous testing and conservative formulas. We've invested in years in safety documentation and compliance, not shortcuts. As regulatory clarity improves, we believe well capitalized science driven operators like cbdMD stand to benefit while less compliant competitors face increasing pressure on I'll now turn the call over to Brad for more details on the financials.