MICT, Inc. (NASDAQ:MICT) Q2 2020 Earnings Conference Call - Final Transcript

Aug 17, 2020 • 09:00 am ET


MICT, Inc. (NASDAQ:MICT) Q2 2020 Earnings Conference Call - Final Transcript


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Thank you. Good morning and thank you for calling in to review MICT, Inc.'s Second Quarter 2020 Results. Management will provide an overview of the results. Importantly, there is a slide presentation which management will use during their overview. This presentation can be found on the Investor Relations section of the company's website, www.mict-inc.com, under Events and Presentations. You may also access a PDF copy of the presentation by clicking the link in the company's press release regarding these financial results issued this morning and then clicking a second link labeled first quarter 2020 results. Callers accessing the PDF copy of the presentation will need to manually scroll through the slides as management go through the presentation.

I will now take a brief moment to read the Safe Harbor statement. During the course of this call, management will make expressed and implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal Securities Laws. These forward-looking statements include, but are not limited to those statements regarding the belief that the merger with GFH and the recent investments in Micronet will create synergies and advantages for both companies, our expectations regarding the global logistics and transportation telematics industry growth, and the belief that a majority stake in Micronet will leverage our global platform to grow the telematics business as well as fintech. Such forward looking statements and their implications involve known and unknown risks, uncertainties, and other factors that may cause actual results or performance to differ materially from those projected.

The forward-looking statements contained in this presentation are subject to other risks and uncertainties, including those discussed in the risk factor section and elsewhere in the company's annual report and Form-10 K for the year ended December 31, 2019, filed with the Securities and Exchange Commission and elsewhere in subsequent filings with the Securities and Exchange Commission. On the call this morning, we have Darren Mercer, Chief Executive Officer and Board Member of MICT; and Moran Amran, Controller of MICT. And again, as a reminder, management will be referring to a slide presentation that can be accessed via the Investor Relations section of the company's site or the link in the press release. We will start with an opening message from Darren, who will give an overview of business developments for the three and six months ended, June 30, 2020. Then we will move to review the numbers with Moran.

I will now turn the call over to Darren, who will begin the presentation on slide 3. Please go ahead, Darren.

Darren Mercer

Thank you, and good morning, everybody. If I can turn your attention to slide 3 of the presentation, we're very pleased and excited to have recently closed two critical transactions, which are contemplated to create significant value for MICT shareholders. In connection with such transactions pursuant to which MICT now controls operating businesses in the global fintech sector, GFH; and the telematics sector, Micronet, MICT believes that it is well positioned to grow revenues and