Cielo Waste Solutions Corp. (CMC) Q1 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon ladies and gentlemen and welcome to the CLO Waste Solutions quarterly investor update conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks there will be a question and answer session. If you would like to ask a question during this time simply press star then the number one on your telephone keypad. If you would like to withdraw your question please press star then the number two. I would now like to hand the conference over to Mr. Ryan Jackson, Chief Executive Officer, and Ms. Jasdeep Dhaliwal, Chief Financial Officer of Cielo Waste Solutions. Please go ahead. Thanks, Michelle, and welcome, everyone, and thank you for joining us today. Of course, Cielo is a waste-to-fuel environmental technology company, and today, or rather, as of July 31, 2022, And further to the press release that was issued on September the 30th, 2022, we'd like to provide a synopsis of the financial results for the three months ended July 31st. All of the amounts in the call will be in Canadian dollars. And of course, when we talk about quarterly, we're talking about a fiscal quarterly Q1. I'll turn it over to Jaz to go over the financial highlights. Good afternoon, everyone. As Ryan mentioned, this is our Q1 quarterly financial results for the period ended July 31st, 2022. So just to do a brief overview of the financial results and as it was welcomed by the shareholders and by our investors, a quick review of the key events that happened within the quarter. So total assets decreased in Q1 by $19.7 million. in compared to April 30th, 2022. This decrease was in PP&E offset by an increase in cash and prepaids. As noted on our income statement, we had a $24.4 million write down or impairment of our assets related to decommi...