Q2 2020 MICT Inc Earnings Call

August 17, 2020

During the course of this call management will make Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995 and other Federal Securities laws, these forward-looking statements include but are not limited to those facts regarding the belief that the merger with g s h and the recent investment in micronet will create synergies and advantages for both companies are expectations regarding the global logistics and transportation telematics industry growth and the believe that a majority stake in Merrick or not. We'll ever that Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known and unknown risks and uncertainties and other factors that may cause actual results or performance to differ materially from those projected off the Ford Lincoln 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 on form 10-K for the year ended December 31st, 2019 Volvo the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call this morning. We have Darren Mercer chief executive officer and board member of m i c t and Moran Imran control of m i c t

And again, as a reminder management would be referring to a slide presentation that can be accessed by the investor relations section of the company site or the link in the press release. We will start with an opening message from Darren who will give an overview of business development of the three and six months ended June 30th 2020 and we will move to review the numbers with more on I want to return the call over to Darren. He'll begin the presentation on slide three, please go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation. We are very pleased and excited to have recently closed to be critical transactions, which are contemplated to create significant value for mict shareholders in connection with such transactions that she went to MIT Now controls operating businesses in the global context sector gfh off the telematic sector Michael. M. I c c believes that this is well-positioned to grow revenues and earnings on July 1st, 2020 mict completed the acquisition wage.

S H or approximately twenty-five million dollars in convertible Securities about my CT launching mict into the global context of Industry off ending shareholder approval and September 3rd. 2020 m i t t special meeting of stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible remotes for vegetables shares of common stock upon stockholder approval after conversion price of $1.10 per share additional purchase one week before the end of the second quarter on June 23rd. 2020 m i t t increases position in micro not limited outstanding ordinary shares m i c t correct 53.39% of micro not limited to our standing within the shares. Just giving I'm OCT controlling interest in these telematics business subsidiary.

Fuji

Deep experience and network in the Asian markets. We believe we are well-positioned to expand Microsoft's business beyond the US and Europe into Asia.

Yeah position of gf8 brings crossover benefit to the telematics business and it's a driving reason for an ICT decision to increase it's taken my

And telematics with strategic accretive Acquisitions that are contemplated to be completed in the future in an effort to further expand these businesses.

Mike vineski is well established for the robust product portfolio and installed base of customers including Global Logistics and trucking companies in the global telematics market, which is expected to grow to $45,000 by 2020 to according to the Grandview research.

Gfh is versatile for prior to trading technology platform is designed to several large number of high growth sectors as well as to interface with platforms used by strategic partners with gfh is primary focus include online brokerage for equities trading and sales and insurance products and several foreign markets.

The alien primary focus will be on provision of services in China by the significant growth in the country after one class have driven a surge in demand for investment products and Wealth Management Services.

With several accretive acquisition opportunities in the context and telematics sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional revenue office in the future if I can now turn your attention to slide five.

On Slide Five you will review on my CTS 2020 Financial results as a reminder between February 24th, 2019 and June 23rd. 2026 am i c t held less than 50% ownership of my crafts and therefore did not include micromedex Financial results during that time in this Consolidated financial statement based on generally accepted accounting practices gaap Financial results of the 3 months ended March 31st, 2019 reflect micronet limited with news for the month of January 2019 and February 2019. Only mict will include my credits p&l Financial results and its Consolidated statements beginning in the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 Chef in general and administrative sg&a expenses twenty-twenty with $668,000 compared to $670,000 in Q2 2019 with mesenchymal should be school for my CT was $227,000 in 2020 compared to a net loss of one point 1 billion dollars in Q2 2019.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now turn the call to them around for more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide Illustrated the revenue for the six months. And then June 13th 2012 is compared to the same period in 2019 revenue or zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide more detailed breakdown of the second quarter and six months and the tune of 32020 is compared to the 2019 numbers off total operating expenses in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2020 is compared to a loss population of one point 1 million in the second quarter of 2005.

Think I'm attributed to a my city in the second quarter of 2020 was $227,000 of 0.0. $2 per basic share and 0 per diluted share name is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019.

The net income is primarily a result of game from starting to Consolidated micronet and financial income results from the cancellation of recording impairment for my connect.

Turning to slide eight on our balance sheet. We have nine point seven million in cash in cash equivalent $305,000 in receivable 9.3 million in bank and other death 1 million in net working capital and six point five million shareholders Equity as of June 13th, 2020. I will now turn the call back to them. Thank you for getting on the call. Today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes our conference call. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview and second quarter 2020 results management will provide an overview of the results importantly there's a slide presentation which management will use during their overview. This presentation can be found on the investor relations section of the company's web site www.nike.com under events and presentations dead.

You may also access a PDF copy of the presentation by clicking the link in the company's press release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results call is accessing the PDF copy of representation lead to manually scroll through the slides as management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995. Another US 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 investment in micronet will create synergies and advantages for both companies wage expectations regarding the global logistics and transportation telematics industry growth and the belief that a majority stake in Merrick or not. We'll ever tour Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known known risks and 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 Ed.

In the company's annual report on form 10-K for the year ended December 31st, 2019 filed with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call is Thursday. We have Darren Mercer chief executive officer and board member of m i c t and Moran Imran control of m i c t and again as a reminder management will be referring to a slide presentation that can be accessed by the investor relations section of the country 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 30th 2020 and we will move to review the numbers with more on edge during the call over to Darren. He'll begin the presentation on slide three, please go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation. I'm very pleased and excited to have recently closed to be critical transactions, which are contemplated to create significant value for shareholders.

in connection with

Transactions that she went to MIT to Now controls operating businesses in the global context sector gfh and the telematic sector microwave micc believes that it's just well positioned to grow revenues and earnings on July 1st, 2020 mict completed the acquisition of GF H or approximately twenty-five million dollars on a convertible Securities about my CT launching mict into the global context and Industry pending shareholder approval on September 3rd. 2020 m i t t special with the stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible promissory note convertibles shares of m i t t, the stock and stockholder approval after conversion price of $1.10 per share.

Additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases positioned in micronet limited outstanding ordinary shares mict currently owns 53.39% of my Chrome app limited's outstanding ordinary shares just giving them a CT controlling interest and it's telematics business subsidiary Monday through gfhd experience and network in the Asian markets. We believe we are well-positioned to expand microdots business beyond the US and Europe into Asia.

Yeah position of gf8 brings crossover benefit to the telematics business and it's a driving reason from mict decision to increase it's taking micromass.

U.s. Gap accounting principles in the third quarter of 2020 m i c t will now report Avenue and financial results from gf8.

If I could send your attention to slide full.

And he believes that it is created a tremendous platform for future growth this platform combines the anticipated organic growth of our operating businesses in fintech and telematics with strategic positions that are contemplated to be completed in the future in an effort to further expand these businesses.

Myconnect is well established for the robust product portfolio and installed base of customers including Global Logistics and trucking companies in the global telematics market, which is expected to grow $45 billion dollars by 2022 according to the ground view research.

Gfh is versatile for prior to trading technology platform is designed to several large number of high growth sectors as well as to interface with platforms used by strategic Partners GFA the library close to conclude online brokerage for equities trading and sales Insurance products and several foreign markets.

The alien primary focus will be on provision of services in China whether significant growth in the country after one class have driven a surge in demand for investment products and Wealth Management Services.

With several decreased your acquisition opportunities in the context and telematic sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional Revenue age having it out in the future if I can now turn your attention to slide five.

On Slide Five you will review at my CTS Q2 2020 Financial results.

I do remaining days between February 24th, 2019 and June 23rd, 2020 mict held less than 50% ownership of my credit and therefore did not include micronauts actual results during that time in this Consolidated financial statements based on generally accepted accounting practices gaap Financial results of the 3 months ended March 31st, 2019 reflect micronet limited revenues for the month of January 2019 and February 2019. Only mict will include my credits. Our financial results in its Consolidated statements beginning of the third quarter of 2020.

Micc reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019, General and administrative sg&a expenses to 2:20 with $668,000 compared to $670,000 in Q2 2019 off messenger. It should be school for my CT with $227,000 to $20 compared to a net loss of one point 1 million dollars in Q2 2019.

As of June 30th 2020 m i c. Nine point seven million dollars in cash.

I will now cynical to Moran for more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide. He looks like you deserve a new for the six months. And then June 13th 2012 is compared to the same period in 2019 Revenue was zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide more detailed breakdown of the second quarter and six months and the June 30th 2020 as compared to the 2019 numbers off total operating expense in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2026 compared to a loss of operation of one point 1 million in the second quarter of 2090.

Nothing. I'm at a beauty to a my city in the second quarter of 2020 was $227,000 of 0.0 $2 per month and see what the picture is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019.

Income is finally a result of gain from starting to Consolidated micronet and financial income results from the cancellation of recording impairment for micronet.

Then into slight 8 on our balance sheet, we have nine point seven million increase in cash equivalent $305,000 in receivable 9.3 million in Bank in Edward. F 1 million in net working capital and six point five million shareholders Equity as of June 13th, 2020. I will now turn the call back to them. Thank you for getting on the call. Today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes our conference call. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview and second quarter 2020 results management will provide an overview of the results importantly there's a slide presentation which management will use during their overview. This presentation can be found on the investor relations section of the company's web site www.nike.com under events and presentation.

You may also access a PDF copy of the presentation by clicking the link in the company's press release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results College accessing the PDF copy of representation lead to manually scroll through the slides as management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995. Another US Federal Securities laws, these forward-looking statements include but are not limited to those statements regarding the belief that the merger with gsh and the recent investment in micronet will create synergies and advantages for both companies wage expectations regarding the global logistics and transportation telematics industry growth and the belief that a majority stake in Marinette will ever dark Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known known risks and 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 Ed.

In the company's annual report on form 10-K for the year ended December 31st, 2019 filed with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call is Thursday. We have Darren Mercer chief executive officer and board member of m i c t and Moran Imran control of m i c t and again as a reminder management, we referring to a slide presentation that can be accessed by the investor relations section of the country 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 30th 2020 and we will move to review the numbers with more on edge during the call over to Darren. He'll begin the presentation on slide three, please go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation were very pleased and excited to have recently closed to be critical transactions, which are contemplated to create significant value for shareholders.

in connection with such

Directions to she went to MIT Now controls operating businesses in the global context sector gfh and the telematic sector micronet micc believes that it is in a position to grow revenues and earnings on July 1st, 2020 mict completed the acquisition of GF H or approximately twenty-five million dollars in Securities about my CT launching mict into the global context industry pending shareholder approval on September 3rd. 2020 m i t t special meeting of stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible promissory notes convertibles shares of m i t t, stock upon a stockholder approval after conversion price of $1.10 per share.

Additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases position in micro not limited outstanding ordinary wage at my CT currently owns 53.39% of micro not limited to outstanding Altima shares just giving em OCT controlling interest in these telematics business subsidiary page to gfhd experience and network in the Asian markets. We believe we are well-positioned to expand microdots business beyond the US and Europe into Asia.

Yeah position of gf8 fingers crossed over benefit to the telematics business and it's a driving reason mict decision to increase it's taking micromass wage Gap accounting principles in the third quarter of 2020 mict will now report revenues and financial results from gf8.

If I could send your attention to slide full.

And he believes that it is created a tremendous platform for future growth this platform combined the anticipated organic growth of our operating businesses in fintech and telematics with strategic Acquisitions that are contemplated to be completed in the future in an effort to further expand these businesses.

Gfh is versatile for prior to trading technology platform is designed to several large number of hydro taxes as well as twins are basic platforms used by strategic Partners GFA the climber area close to conclude online brokerage for equities trading and sales and insurance products and several foreign markets.

Yeah, the primary focus will be on provision of services in China by the significant growth in the country after one class have driven a surge in demand for investment products and Wealth Management Services.

With several decreased your acquisition opportunities in the context and telematic sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional Revenue. He's driving it out in the future if I can now turn your attention to slide five.

On Slide Five People review m i c t s q to 20 20 Financial results as a reminder between February 24th, 2019 and June 23rd 2026 GT held less than 50% ownership of my cracked and therefore did not include micromedex Financial results during that time in this Consolidated financial statements based on us generally accepted accounting practices gaap.

All Financial results of the 3 months ended March 31st, 2019 reflect micronet limited revenues for the months of January 2019 and February 2019. Only Mi Suk. He will include my credits. Alpha. She was opened its Consolidated statements beginning of the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 selling General administrative sg&a expense in Q2 twenty-twenty with $668,000 compared to $670,000 in Q2. 2019 off. Nothing too much would be school for my CT was $227,000 in 2020 compared to a net loss of one point 1 million dollars in Q2 2019 dead.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now turn the call to them around for a more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide Illustrated the revenue for the six months. And then June 13th. 2012 is compared to the same period in two thousand and nineteen Revenue will Zero in the first six months of 2020 compared to $477,000 in the first six months of June 2019 slide seven provide more detailed breakdown of the second quarter and six months and the June 13th 2020 is compared to the 2019 numbers off total operating expenses in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2020 as compared to a loss population of one point 1 million in the second quarter of two thousand a month.

I think I'm at a beauty to a my city in the second quarter of 2020 was $227,000 of 0.0 $2 per month and see what they'll diluted share is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019.

The netting

Finally a result of gain from starting to Consolidated micronet and financial income results from the cancellation of recording impairment for my connect.

Then into slight 8 on our balance sheet, we have nine point seven million increase in cash equivalent $305,000 in receivable 9.3 million in bank and added depth 1 million in net working capital and six point five million shareholders Equity as of June 30th 2020. I will now turn the call back to the ring. Thank you for getting on the call. Today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes our conference call. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview second quarter 2020 results management will provide an overview of the results importantly there's 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.king.com under events and presentations dead.

You may also access a PDF copy of the presentation by clicking the link in the company's press release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results call is accessing the PDF copy of representation lead to manually scroll through the slides as management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 95 another US 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 investment in micronet will create synergies and advantages for both companies wage expectations regarding the global logistics and transportation telematics industry growth and the belief that a majority stake in Marinette will leverage our Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known known risks and 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 Ed.

And the company's annual report on form 10-K for the year ended December 31st, 2019 filed with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call is Thursday. We have Darren Mercer chief executive officer and board member of m i c t and Moran Imran control of m i c t and again as a reminder management will be referring to a slide presentation that can be accessed by the investor relations section of the page 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 and two June 30th 2020 and we will move to review the numbers with more on I turn the call over to Darren. He'll begin the presentation on slide three, please go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation am very pleased and excited to have recently closed to be critical transactions, which are contemplated to create significant value for shareholders.

in connection with

Transactions that she went to MIT Now controls operating businesses in the global context sector gf8 and the telematic sector microwave micc believes that life is well positioned to grow revenues and earnings on July 3rd, 2020 mict completed the acquisition of gfh or approximately twenty-five million dollars a pack in convertible Securities about my CT won't you get my CT into the global context in Industry pending shareholder approval on September 3rd. 2020 m i t t special the stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible promissory note 4 verse one's shares of them is common stock on stockholder approval after conversion price of $1.10 per share.

Additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases position in micronet limited outstanding ordinary shares mict currently owns 53.39% of micro not limited. It's time to go to the shared thus giving Mac controlling interest and it's telematics business subsidiaries to gfhd experience and network in the Asian markets. We believe we are well-positioned to expand likely that's business beyond the US and Europe into Asia.

Yeah position of gf8 brings crossover benefit to the telematics business and it's a driving reason from mict decision to increase it's taking micromass.

U.s. Gap accounting principles in the third quarter of 2020 m i c t will now report that news and financial results from gs8.

If I could send your attention to slide full.

And he believes that it is created a tremendous platform for future growth this platform combines the anticipated organic growth of our operating businesses in context and telematics with strategic positions that are contemplated to be completed in the future in an effort to further expand these businesses.

Gfh is versatile for prior to trading technology platform is designed to several large number of high growth sectors as well as twins are basic platforms used by strategic Partners GFA the primary close to conclude online brokerage for equities trading and sales and insurance products and several foreign markets.

With several accretive acquisition opportunities in the context and telematics sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional Revenue took it out in the future if I can now turn your attention to slide five.

On Slide Five People review m i c t s q to 20 20 Financial results as a reminder between February 24th, 2019 and June 23rd 2028 CT held less than 50% ownership of my cracked and therefore did not include micromedex Financial results during that time in this Consolidated financial statements based on us generally accepted accounting practices gaap Financial results, the 3 months ended March 31st, 2019 reflect micronet limited revenues for the month of January 2019 and February 2019. How old am I C T will include my credits and all Financial results and its Consolidated statements beginning in the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 month in general and administrative sg&a expenses 2020 with $668,000 compared to $670,000 in Q2 2019. I'm missing, it should be school for my CT was $227,000 in 2020 compared to a net loss of one point 1 billion dollars in Q2 2019.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now turn the call to him around for a more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide Illustrated the revenue for the six months. And then June 13th. 2012 is compared to the same period in two thousand and nineteen Revenue will Zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide more detailed breakdown of the second quarter and six months and the tune of 32020 as compared to the 2019 numbers off total operating expenses in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019, Although I didn't income was $227,000 in the second quarter of 2020 is compared to a loss of operation of one point 1 million in the second quarter of two thousand and

I think I'm attributed to a my city in the second quarter of 2020 was $227,000 of 0.0 $2 per month and see what the teacher is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019.

The net income is

Finally a result of gain from starting to Consolidated micronet and financial income results from the cancellation of recording impairment for my connect.

Then into slight 8 on our balance sheet, we have nine point seven million in cash in cash equivalent $305,000 in receivable 9.3 million Bank in Edward. F 1 million in net working capital and six point five million shareholders Equity as of June 13th 2020. I will now turn the call back to the thank you for getting on the long body. Today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes our conference call. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview em second quarter 2020 results management will provide an overview of the results importantly. There's a slide presentation which management will use during their overview. This presentation can be found on the investor relations section of the company's web site www.nike.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 issue this morning and then clicking a second link labeled second quarter 2020 results College accessing the PDF copy of representation lead to manually scroll through the slides as management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995. Another US Federal Securities laws, these forward-looking statements include but are not limited to those statements regarding the belief that the merger with gsh and the recent investment in micronet will create synergies and advantages for both companies wage expectations regarding the global logistics and transportation telematics industry growth and the belief that a majority stake in Marinette will leverage our Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known known risks and 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 Ed.

In the company's annual report on form 10-K for the year ended December 31st, 2019 filed with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call is Thursday. We have Darren Mercer chief executive officer and board member of m i c t and Moran Imran control of m i c t and again as a reminder management will be referring to a slide presentation that can be accessed by the investor relations section of the country 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 30th 2020 and we will move to review the numbers with more on edge during the call over to Darren. He'll begin the presentation on slide three, please go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation were very pleased and excited to have recently closed to be critical transactions, which are contemplated to create significant value for shareholders.

in connection with such Transit

Directions to she went to MIT to Now controls operating businesses in the global context sector gfh and the telematic sector micronet micc believes that it is well positioned to grow revenues and earnings on July 3rd, 2020 mict completed the acquisition of GF H or approximately twenty-five million dollars in Cabool Securities about my CT won't you get my CT into the global context in Industry pending shareholder approval on September 3rd. 2020 m i t t special meeting of stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible promissory notes convertibles share to them. I stopped upon took all the approval after conversion price of $1.10 per share.

Additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases position in micro not limited outstanding ordinary shares at my CT currently owns 53.39% of my Chrome app limited's outstanding ordinary shares just giving a my CT controlling interest and it's telematics business subsidiary page through gfhd experience and network in the Asian markets. We believe we are well-positioned to expand my credit business beyond the US and Europe into Asia.

Yeah position of things crossover benefit to the telematics business and it's a driving reason from mict decision to increase it's taking micromass.

U.s. Gap accounting principles in the third quarter of 2020 m i c t will now report Avenue and financial results from gf8.

If I could send your attention to slide full.

And he believes that it is created a tremendous platform for future growth this platform combines the anticipated organic growth of our operating businesses in fintech and telematics with strategic Acquisitions that are contemplated to be completed in the future in our efforts to further expand these businesses.

Myconnect is well established for the robust product portfolio and installed base of customers including Global Logistics and trucking companies in the global telematics market, which is expected to grow 45 billion dollars by 2022 according to the Grandview research.

Gfh is versatile for prior to trading technology platform is designed to several large number of high growth sectors as well as to interface with platforms used by strategic Partners GFA the climber area close to conclude online brokerage for equities trading and sales Insurance products and several foreign markets.

The alien primary focus will be on provision of services in China by the significant growth in the country's affluent class have driven a surge in demand for investment products and Wealth Management Services.

With several decreasing of acquisition opportunities in the context and telematics sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional revenue office in the future if I can now turn your attention to slide five.

On Slide Five we will review m i c t s q two twenty20s Financial results as a reminder between February 24th, 2019 and June 23rd 2028 CT held less than 50% ownership of my cracked and therefore did not include micromedex Financial results during that time in this Consolidated financial statements based on us generally accepted accounting practices gaap Financial results of the 3 months ended March 31st, 2019 reflect micronet limited revenues for the month of January 2019 and February 2019 m m i c t will include my credits and all Financial results and its Consolidated statements beginning of the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 Edge in general and administrative sg&a expense in Q2 twenty-twenty with $668,000 compared to $670,000 in Q2 2019. I'm missing too much will be school for my CT with $227,000 in the future $20 compared to a net loss of one point 1 billion dollars in Q2 2019.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now turn the call to Moran for more detailed Financial. Thank you Deron and good morning, everyone the next slide Illustrated the revenue for the six months. And then June 13th 2012 is compared to the same period in 2019 revenue for zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide more detailed breakdown of the second quarter and six months and the June 30th 2020 is compared to the 2019 numbers off. A lot of writing expense in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2026 compared to a loss of operation of one point 1 million in the second quarter of two thousand a month.

Nothing. I'm attributed to a my city in the second quarter of 2020 was $227,000 of 0.0 $2 per month and see what the teacher is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019.

The netting

Sparingly a result of gain from starting to Consolidated micronet and financial income results from the cancellation of recording impairment for my connect.

Turning to slide 8 on our balance sheet. We have nine point seven million increase in cash equivalent three hundred and $5,000 in receivable 9.3 million in Bank in Edward. F one million in net working capital and six point five million shareholders Equity as of June 13th, 2020. I will now turn the call back to the ring. Thank you for getting on the office today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes rep conference call. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview and second quarter 2020 results management will provide an overview of the results importantly there's a slide presentation which management will use during their overview. This presentation can be found on the investor relations section of the company's web site www.nike.com under events and presentation.

You may also access a PDF copy of the presentation by clicking the link in the company's press release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results College accessing the PDF copy of representation lead to manually scroll through the slides as management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995. Another US Federal Securities laws, these forward-looking statements include but are not limited to those statements regarding the belief that the merger was gsh and the recent investment in micronet will create synergies and advantages for both companies wage expectations regarding the global logistics and transportation telematics industry growth and the belief that a majority stake in Merrick or not. We'll ever tour Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known known risks and 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 Ed.

In the company's annual report on form 10-K for the year ended December 31st, 2019 filed with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call is Thursday. We have Darren Mercer chief executive officer and board member of m i c t and Moran Imran control of m i c t and again as a reminder management will be referring to a slide presentation that can be accessed by the investor relations section of the country 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 30th of 2020 and we will move to review the numbers with more on edge during the call over to Darren. He'll begin the presentation on slide three, please go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation were very pleased and excited to have recently closed to be critical transactions, which are contemplated to create significant value for shareholders.

in connection with

Transactions that she went to MIT to Now controls operating businesses in the global context sector gfh and the telematic sector micronet micc believes that it's just well positioned to grow revenues and earnings on July 3rd, 2020 mict completed the acquisition of gfh for approximately twenty-five million dollars on a convertible Securities about my CT launching mict into the global context in Industry pending shareholder approval on September 3rd. 2020. M i t t special the stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible promissory notes convertible and shares of m i t t, the stock and stockholder approval after conversion price of $1.10 per share.

Additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases position in micro not limited outstanding ordinary shares at my CT currently owns 53.39% of my Chrome at limited. It's time to go to the shares just giving Mac controlling interest in these telematics business subsidiary page to gfhd experience and network in the Asian markets. We believe we are well-positioned to expand likely that business beyond the US and Europe Asia.

Yeah position of things crossover benefit to the telematics business and it's a driving reason from mict decision to increase it's taking micromass.

U.s. Gap accounting principles in the third quarter 20 20 mi CT will now report Avenue and financial results from gs8.

If I could send your attention to slide full.

And he believes that it is created a tremendous platform for future growth this platform combines the anticipated organic growth of our operating businesses in fintech and telematics with strategic Acquisitions that are contemplated to be completed in the future in an effort to further expand these businesses.

Myconnect is well established for the robust product portfolio and installed base of customers including Global Logistics and trucking companies in the global telematic market, which is expected to grow $45 billion dollars by 2022 according to the Grandview research.

Gfh is versatile for prior to trading technology platform is designed to several large number of high growth sectors as well as to interface with platforms used by strategic Partners GFA the primary focus include online brokerage for equities trading and sales and insurance products and several foreign markets.

Yeah, the primary focus will be on the provision of services in China by the significant growth in the country after one class have driven a surge in demand for investment products and Wealth Management Services.

With several decreased your acquisition opportunities in the context and telematics sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional Revenue. He's driving it out in the future if I can now turn your attention to slide five.

On Slide Five People review Mi CTS YouTube 2020 Financial results as a reminder between February 24th, 2019 and June 23rd 2026 CT held less than 50% ownership of my cracked and therefore did not include micromedex Financial results during that time in this Consolidated financial statements based on us generally accepted accounting practices gaap.

A financial results of the 3 months ended March 31st, 2019 reflect micronet limited revenues for the month of January 2019 and February 2019. Only Mi Suk. He will include my credits. Our financial results and its Consolidated statements beginning of the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 selling General a destructive sg&a expense in Q2 twenty-twenty with $668,000 compared to $670,000 in Q2 2019 off messing. It should be school for my CT with $227,000 in 2020 compared to a net loss of one point 1 million dollars to twenty nineteen month.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now turn the call to Moran for more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide Illustrated the revenue for the six months. And then June 13th, 2020 is compared to the same period in 2019 revenue or zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide more detailed breakdown of the second quarter and six months and the tune of 32020 is compared to the 2019 numbers off total operating expenses in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2020 is compared to a lost phone operation of one point 1 million in the second quarter of 2005.

Nothing. I'm attributed to a my city in the second quarter of 2020 was $227,000 of 0.0 $2 per month and see what they'll dilute teacher is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019. The net income is definitely a result of gain from starting to Consolidated micronet and financial income results from the cancellation of recording impairment for my connect.

done

To slide a tour now balance sheet. We have nine point seven million increase in cash equivalent $305,000 in receivable 9.3 million in bank and other Dept 1 million in a working capital and six point five million shareholders Equity as of June 13th, 2020. I will now turn the call back to the ring. Thank you for getting on the call everybody today. We are excited about an to continue to build value for both how long time and new investors are like thank you. This concludes God. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview second quarter 2020 results management will provide an overview of the results importantly there's a presentation which management will use during their overview. This presentation can be found on the investor relations section of the company's web site www.nike.com under events and presentations. You may also birth

A PDF copy of the presentation by clicking the link in the company's press release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results College accessing the PDF copy of the presentation wage annually scroll through the slides as management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995. Another US 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 investment in micronet will create synergies and advantages for both companies are expectations wage Global Logistics and transportation telematics industry growth and the belief that a majority stake in America or not. We'll ever tour Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known and unknown risks and 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 name.

Report on form 10-K for the year ended December 31st 2019 filed with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call this morning. We have Darren chief executive officer and board member of m i c t and Moran Imran control of m i c t and again as a reminder management will be referring to a slide presentation that can be accessed by the investor relations section of the company site 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 30th 2020 and we will move to review the numbers with more on hour and I'll turn the call over there and we'll begin the presentation on slide three, please go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation. We are very pleased to have recently closed to be critical transactions, which are contemplated to create significant value for shareholders.

In connection with such transactions that she wants which Now controls operating businesses in the global context sector gfh and the telematic sector microwave bulb micc believes that this is well-positioned to grow revenues and earnings on July 1st, 2020 mict completed the acquisition of GF H or approximately twenty-five foot in the US dollars in convertible Securities about my CT launching into the global context industry pending shareholder approval on September 3rd, 12 p.m. OCT special meeting of stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible promissory notes convertibles share to them, and stock up on stockholder approval after conversion price of $1.10 per share.

Additionally just one week before the end of the second quarter on June 23rd 2020 mict increases position in micro not limited outstanding ordinary shares m a t t currently owns 53.39% of my Chrome at limited outstanding ordinary shares just giving a my CT controlling interest and it's telematics business subsidiary gfhd experience and network in the Asian markets. We believe we are well-positioned to expand micronized business beyond the US and Europe into Asia.

Yeah position of gf8 brings crossover benefit to the telematics business and it's a driving reason and ICT decision to increase it's taking micromass.

U.s. Gap accounting principles in the third quarter of 2020 m i c t will now report Avenue and financial results from gf8.

If I could send your attention to slide full.

Myconnect is well established for the robust product portfolio and install base of customers including Global Logistics and trucking companies in the global telematics market, which is expected to grow to $45 billion dollars by 2022 according to the ground view research.

Gfh is versatile for prior to trading technology platform is designed to several large number of high growth sectors as well as to interface with platforms used our strategic Partners GFA the climber area close to conclude online brokerage for equities trading and sales and insurance products and several foreign markets.

With several decrease your acquisition opportunities in the context and telematics sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional Revenue took it out in the future if I can now turn your attention to slide five.

On Slide Five People review Mi CTS you to 20 20 in financial results as a reminder between February 24th, 2019 and June 23rd. 2026 am i c t held less than 50% ownership of my cracked and therefore did not include micromedex Financial results during that time in this Consolidated financial statements based on generally accepted accounting practices gaap Financial results of the 3 months ended March 31st, 2019 reflect micronet limited revenues for the month of January 2019 and February 2019. Only mict will include my credits. Our financial results in this Consolidated statements beginning of a third quarter of 2020.

and

ICT reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 selling General and administrative sg&a expense in Q2 twenty-twenty with $668,000 compared to $670,000 in Q2 2019. I'm missing come it should be school from ITT was $227,000 in 2020 compared to a net loss of one point 1 billion dollars in Q2 2019.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now turn the call to them around for a more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide Illustrated the revenue for the six months. And then June 13th 2012 is compared to the same period in 2019 revenue for zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide a more detailed breakdown of the second quarter and six months and the June 30th 2020 is compared to the 2019 numbers off. A lot of 18 expense in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2020 is compared to a loss of operation of one point 1 million in the second quarter of two thousand and five.

Net income attributed to a my city in the second quarter of 2020 was $227,000 of 0.0 $2 per month and see what the teacher is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019. The net income is finally a result of game from starting to Consolidated micronet and financial income results from the cancellation of recording impairment for my connect.

Turning to slide eight on our balance sheet. We have nine point seven million in cash in cash equivalent three hundred and $5,000 in receivable 9.3 million Bank in Edward l 1 million in net working capital and six point five million in shareholders Equity as of June 13th 2020. I will now turn the call back to Darren. Thank you for calling the cool everybody today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes took twenty results conference call. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview em second quarter 2020 results management will provide an overview of the Revolt importantly there's a slide presentation which management will use during their overview. This presentation can be found on the investor relations section of the company's web site www.nike.com under events and Thursday.

You may also access a PDF copy.

The presentation by clicking the link in the company's press release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results call is accessing the PDF copy of the presentation will need to manually scroll to slide his management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995. And other than the 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 investment in micronet will create synergies and advantages for both companies are expectations regarding the global logistics and transportation telematics industry growth and the belief that a majority stake in my car not we'll ever tour Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known and unknown risks and uncertainties and other factors that may cause actual results are 4 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 on wage.

10K for the year ended December 31st 2019 filed with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call this morning. We have Darren Mercer chief executive officer and board member of m i c t and Moran Imran control of m i c t and again as a reminder management will be referring to a slide presentation that can be accessed by the investor relations section of the company site or the Lincoln the page. We will start with an opening message from Darren who will give an overview of business developments for the three and six months and two June 30th 2020 and we will move to review the numbers with more on hour and I'll turn the call over to Darren. He'll be in on slide three, please. Go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation. We're very pleased and excited to Thursday. We close to be critical transactions, which are contemplated to create significant value for shareholders.

In connection with such transactions that she went to MIT Now controls operating businesses in the global context sector gfh and the telematic sector microwave bulb micc believes that this is well-positioned to grow revenues and earnings on July 1st, 2020 mict completed the acquisition of gfh or approximately twenty-five or maybe in the US dollars in convertible Securities about my CT launching mict into the global context in Industry pending shareholder approval on September 3rd 12 a.m. ITT special meeting of stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible promissory notes convertibles shared to them, stop upon stockholder approval after conversion price of $1.10 per share.

Additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases position in micro not limited outstanding ordinary shares mict currently owns 53.39% of micro not limited outstanding ordinary shares just giving a mighty controlling interest and it's telematics business subsidiary page to gfhd experience and network in the Asian markets. We believe we are well-positioned to expand microdots business beyond the US and Europe into Asia.

Yeah.

Fingers crossed over benefit to the telematics business and it's a driving reason from mict decision to increase it's taking micromass.

U.s. Gap accounting principles in the third quarter of 2020 m i c t will now report Avenue and financial results from gs8.

I'm telematics with strategic Acquisitions that are contemplated to be completed in the future in our efforts to further expand these businesses.

Mike Ness is well established for the robust product portfolio and installed base of customers including Global Logistics and trucking companies in the global telematics market, which is expected to grow 545 billion dollars by 2022 according to the Grandview research.

Gfh is versatile proprietary trading technology platform is designed to several large number of high growth sectors as well as to interface with platforms used by strategic Partners GFA the primary focus include online brokerage for equities trading and sales and insurance products and several foreign markets.

On Slide Five you will review Mi CTS 2020 Financial results as a reminder between February 24th, 2019 and June 23rd 2026.

Mict held less than 50% ownership of my crafts and therefore did not include micromedex Financial results during that time in this Consolidated financial statements based on generally accepted accounting practices gaap.

A financial results of the 3 months ended March 31st, 2019 reflect my connecting limited revenues for the month of January 2019 and February 2019 only mict will encourage my Christian dolphin. She was over in his Consolidated statements beginning in the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 selling General and administrative sg&a expense in Q2 twenty-twenty with $668,000 compared to $670,000 in Q2 2019. I'm messing it should be school from OCT was $227,000 in 2020 compared to a net loss of one point 1 million dollars in Q2 2019.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now send the code to him around for a more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide Illustrated the revenue for the six months. And then June 13th. 2012 is compared to the same period in 2019 Revenue was zero in the first six months of 2020 compared to $477,000 in the first six months of June 2019 slide seven provide more detailed breakdown of the second quarter and six months and the June 30th 2020 is compared to the 2019 numbers off total operating expenses in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2020 as compared to a loss of operation of one point 1 million in the second quarter of 2005.

I think I'm at a beauty to a my city in the second quarter of 2020 was $227,000 of 0.0 $2 per month and see what the teacher is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019. The net income is finally a result of gain from starting to Consolidated micronet and financial income results from the cancellation of recording impairment for microland.

Turning to slide eight on our balance sheet. We have nine point seven million increase in cash equivalent $305,000 in receivable 9.3 million in bank and other death 1 million in net working capital and 6.5 million shareholders Equity as of June 13th, 2020. I will now turn the call back to them. Thank you for getting on the call. Today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes our conference call. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview and second quarter 2020 results management will provide an overview of the results importantly there's a slide presentation which management will use during their overview. This presentation can be found on the investor relations section of the company's web site www.nike.com under events and presentations dead.

you may also access a PDF copy of the

Asian by clicking the link in the company's press release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results call is accessing the PDF copy of the presentation like to manually scroll through this life 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995 and other US federal wage laws these forward-looking statements include but are not limited to those statements regarding the belief that the merger with gfh and the recent investment in micronet will create synergies and advantages for both companies are expectations regarding the global logistics and transportation telematics industry growth and the belief that a majority stake in Marinette will ever tour Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known and unknown risks and uncertainties and other factors that may cause actual results are 4 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 on form 10-K dead.

For the year ended December 31st, 2019 filed with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call this morning. We have Darren Mercer Chief Executive Officer of member of m i c t and Moran Imran control of m i c t and again as a reminder management will be referring to a slide presentation that can be accessed by the investor relations section of the company site or the link in the press release Thursday. 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 30th 2020, and we will move to review the numbers with more on hour and I'll turn the call over to Darren. He'll begin the presentation by three, please go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation. We are very pleased and excited to have recently closed Crystal transactions. If you're contemplating to create significant value for shareholders.

In connection with such transactions that she went to MIT to Now controls operating businesses in the global context sector gf8 and the telematic sector microwave off micc believes that this is well-positioned to grow revenues and earnings on July 1st, 2020 mict completed the acquisition of GF H or approximately twenty-five wage in the US dollars in convertible Securities about my CT launching mict into the global context and Industry pending shareholder approval on September 3rd 12 a.m. ITT special meeting of stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible promissory notes for vegetables shared to them, stop upon stockholder approval after conversion price of $1.10 per share.

Additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases position in micronet limited outstanding ordinary shares at my CT currently owns 53.39% of micro not limited time to go within the shares just giving em OCT controlling interest in these telematics business subsidiary page through gfhd experience and network in the Asian markets. We believe we are well-positioned to expand my cloud as a business beyond the US and Europe into Asia.

Yeah.

Gfh brings crossover benefit to the telematics business and it's a driving reason from mict decision to increase it's taking micromass.

Gap accounting principles in the third quarter of 2020 m i c t will now report Avenue and financial results from gs8.

If I could send your attention to slide full.

Gfh is versatile for prior to trading technology platform is designed to several large number of high growth sectors as well as to interface with platforms used by strategic Partners GFA the climber area close to conclude online brokerage for equities trading and sales and insurance products and several foreign markets.

Yeah, the primary focus will be on provision of services in China by the significant growth in the country affluent class have driven a surge in demand for investment products and Wealth Management Services.

With several decrease your acquisition opportunities in the Pantech and telematics Hector's currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional Revenue took it out in the future if I can now turn your attention to slide five.

On Slide Five People review Mi CTS you to 20 20 in financial results as a reminder between February 24th, 2019 and June 23rd 2026 am i c t held less than 50% ownership of my crafts and therefore did not include micromedex Financial results during that time in this Consolidated financial statements based on generally accepted accounting practices gaap Financial results of the 3 months ended March 31st, 2019 reflect my connecting limited revenues for the month of January 2019 and February 2019. Only mict will include my credits. Our financial results and its Consolidated statement beginning of the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 Chef in general and administrative sg&a expense in Q2 twenty-twenty with $668,000 compared to $670,000 in Q2 2019. I'm missing too much will be school for my CT with $227,000 to $20 compared to a net loss of one point 1 million dollars in Q2 2019.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now turn the call to them around for a more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide Illustrated the revenue for the six months. And then June 13th. 2012 is compared to the same period in 2019 Revenue was zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide a more detailed breakdown of the second quarter and six months and the June 30th 2020 is compared to the 2019 numbers off total operating expenses in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2020 is compared to a loss of operation of one point 1 million in the second quarter of two thousand and five.

Nothing. I'm attributed to a my city in the second quarter of 2020 was $227,000 of 0.0 $2 per month and see what they'll dilute teacher is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019. The net income is finally a result of gain from starting to Consolidated micronet and financial income results from the cancellation of recording impairment for my connect.

Then into slight 8 on our balance sheet, we have nine point seven million increase in cash equivalent three hundred and $5,000 in receivable 9.3 million Bank in Edward M. 1 million in net working capital and six point five million in shareholders Equity as of June 13th, 2020. I will now turn the call back to the thank you for calling the cool everybody today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes took twenty results conference call. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview em second quarter 2020 results management will provide an overview of the Revolt importantly there's 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 ww.w under events and Thursday.

You may also access a PDF copy of the presentation by clicking the link in the company's press release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results College accessing the PDF a copy of the presentation lead to manually scroll through the slides as management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995 and other 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 investment in micronet will create synergies and advantages for both come off our expectations regarding the global logistics and transportation telematics industry growth and the belief that a majority stake in Merrick or not. We'll ever tour Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications of known and unknown risks and 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 factors wage.

And elsewhere in the company's annual report on form.

10K for the year ended December 31st 2019 filed with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call this morning. We have Darren Mercer chief executive officer and board member of m i c t and Moran Imran control of m i c t and again as a reminder management will be referring to a slide presentation that can be accessed by the investor relations section of the company site or the link in the page. We will start with an opening message from Darren who will give an overview of business developments for the three and six months and two June 30th 2020 and we will move to review the numbers with more on hour and I'll turn the call over to Darren. He'll be in on slide three, please. Go ahead Darren. Thank you and good morning everybody. If I can send your attention to slide three of the presentation. We are very pleased and excited to be closed to be critical transactions, which are contemplated to create significant value for shareholders.

In connection with such transactions that she went to MIT to Now controls operating businesses in the global context sector gfh and the telematic sector micronet off micc believes that issue as well positioned to grow revenues and earnings on July 1st, 2020 mict completed the acquisition of GF H or approximately twenty-five or maybe in the US dollars in convertible Securities about my CT launching mict into the global context industry pending shareholder approval on September 3rd, 2020 mrtt. Special meeting of stockholders m i c t expect to receive the balance of the $15 million dollars that remains to be funded through convertible promissory notes convertibles shared to them, in stock upon stockholder approval after conversion price at $1.10 per share.

Additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases position in micronet limited outstanding ordinary life and my CT currently owns 53.39% of micronet limited outstanding ordinary shares just giving Mac controlling interest and he's telematics business subsidiary page to gfhd experiencing Network in the Asian markets. We believe we are well-positioned to expand like without business beyond the US and Europe Asia.

Yeah position of gf8 brings crossover benefit to the telematics business and there's a driving reason and ICT decision to increase it's taking micromass.

U.s. Gap accounting principles in the third quarter of 2020 m i c t will now report that news and financial results from gf8.

If I could send your attention to slide full.

And he believes that it is created a tremendous platform for growth this platform combines the anticipated organic growth of our operating businesses in fintech and telematics with strategic inclusive Acquisitions that I contemplated to be completed in the future in an effort to further expand these businesses.

Mike

He's well established for the robust product portfolio and installed base of customers including Global Logistics and trucking companies in the global telematic market, which is expected to grow to 45 billion dollars on a 2022 according to the Grandview research.

Gfh is versatile for prior to trading technology platform is designed to several large number of high growth sectors as well as to interface with platforms used by strategic Partners GFA the primary close to conclude online brokerage for equities trading on sales Insurance products and several foreign markets.

With several accretive acquisition opportunities in the Pantech and telematics sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional revenue office in the future if I can now turn your attention to slide five.

on Slide Five People review Mi CTS, 2020 Financial results

two remaining days between February 24th, 2019 and June 23rd, 2020 mict held less than 50% ownership of my crafts and therefore did not include Micromax actual results during that time in this Consolidated financial statements based on generally accepted accounting practices gaap Financial results of the 3 months ended March 13th, 2019 reflect micronet limited revenues for the month of January 2019 and February 2019. Only mict will include my credits. Our financial results in its Consolidated statements beginning of the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 Dodge Journey General and administrative sg&a expenses 2020 with $668,000 compared to $670,000 in Q2. 2019 off. Next intimate should be school for my CT was $227,000 in 2020 compared to a net loss of one point 1 billion dollars in Q2 2019.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now cynical to Moran for more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide Illustrated the revenue for the six months. And then June 13th 2012 is compared to the same period in 2019 revenue or zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide more detailed breakdown of the second quarter and six months and the June 13th 2020 is compared to the 2019 numbers off. A lot of writing expense in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2020 is compared to a lost motivation of one point 1 million in the second quarter of two thousand and five.

The net income is primarily a result of gain from starting to consolidate micronet and financial income results from the cancellation of recording impairment for my connect.

Turning to slide 8 on our balance sheet. We have nine point seven million increase in cash equivalent $305,000 in receivable 9.3 million in bank and Advil death 1 million in net working capital and six point five million shareholders Equity as of June 13th, 2020. I will now turn the call back to the thank you for getting on the call today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes our conference call. Thank you for your participation. You may go ahead and disconnect.

Thank you. Good morning. And thank you for calling interview em second quarter 2020 results management will provide an overview of the results importantly there's a slide presentation which management will use during their overview off. This presentation can be found on the investor relations section of the company's website ww.w and presentations. You may also access a PDF copy of the presentation by clicking the link in the competition release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results College accessing the PDF copy of the presentation will need to manually scroll through the slides as management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995 and other US Federal Securities laws, these forward-looking statements include but are not limited to those statements regarding the belief that the merger with g s h and the recent investment in micronet will create synergies and advantages for both companies are expectations regarding the global logistics and transportation telematics industry growth.

And the belief that a majority stake in micro not we'll ever door Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications involved known and unknown risks and uncertainties and other factors that may cause actual results May 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 on form 10-K for the year ended, June 31st, 2019 file with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission on the call this morning. We have Darren Mercer chief executive officer and board member of m i c t off and Moran Imran control of m i c t and again as a reminder management would be referring to a slide presentation that can be accessed by the investor relations section of the company site or the link in the press release. We will start with an opening Thursday from Darren who will give an overview of Business Development for the three and six months ended June 30th 2020, and we will move to review the numbers with more on I will return the call over to Darren. He'll begin the presentation on slide three. Please go off.

Darren thank you, and good morning everybody.

If I can send your attention to slide three of the presentation.

We're very pleased and excited to have recently closed to be critical transactions, which are contemplated to create significant value for shareholders in connection with such transactions. She went to MIT to Now controls operating businesses in the global context sector gf8, and the telematic sector microwave micc believes that this is well-positioned 4th Avenues underlings on July 1st, 2020 mict completed the acquisition of GF H or approximately twenty-five million dollars in convertible Securities. My CT won't you get my CT into the global context industry.

Pending shareholder approval and September 3rd. 2020 m i t t special meeting of stockholders m i c t expect to receive the balance of the $15 million dollars that remains found it to convertible promissory note 4 verse one's shares of mict common stock upon stockholder approval after conversion price of $1 10% are dead additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases position in micronet limited outstanding ordinary shares at my CT currently owns, 53.39% of micro not limited to our standing in the shares. Just giving em OCT controlling interest in these telematics business subsidiary.

Through gfhd experience and network in the Asian markets. We believe we are well-positioned to expand microdots business beyond the US and Europe into Asia.

Yeah position of gf8 fingers crossed over benefit to the telematics business and it's a driving reason from mict decision to increase it's taking micromass.

U.s. Gap accounting principles in the third quarter of 2020 mict will now report revenues and financial results from gs8.

If I could send your attention to slide full.

And he believes that it is created a tremendous platform for future growth this platform combines the anticipated organic growth of our operating businesses in context and telematics with strategic increase your Acquisitions that are contemplated to be completed in the future in an effort to further expand these businesses.

Gfh is versatile proprietary trading technology platform is designed to several large number of high growth sectors as well as twins are basic platforms used by strategic partners.

Gfh is primary focus include online brokerage for equities trading on sales Insurance products and several foreign markets.

Alien primary focus will be on provision of services in China by the significant growth in the country supplement class have driven a surge in demand for investment products and Wealth Management Services.

With several accretive acquisition opportunities in the context and telematics sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of additional Revenue took it out in the future if I can now turn your attention to slide five.

On Slide Five you will review Mi CTS 2020 Financial results as a reminder between February 24th, 2019 and June 23rd. 2026 am i c t held less than 50% ownership of my crafts and therefore did not include micromedex Financial results during that time in this Consolidated financial statements based on generally accepted accounting practices gaap Financial results of the 3 months ended March 31st, 2019 reflect micronet limited with news for the month of January 2019 and February 2019 only mict will include my credits and all Financial results and its Consolidated statement beginning in the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 Chef in general and administrative sg&a expenses 2020 with $668,000 compared to $670,000 in Q2 2019 off messenger. It should be school for my CT was $227,000 in 2020 compared to a net loss of one point 1 billion dollars in Q2 2019.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now turn the call to them around for a more detailed Financial with you. Thank you Deron and good morning. Everyone the next slide Illustrated the revenue for the six months. And then June 13th 2012 is compared to the same period in 2019 revenue or zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide a more detailed breakdown of the second quarter and six months and the June 30th 2020 is compared to the 2019 numbers off total operating expenses in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019, Although I didn't income was $227,000 in the second quarter of 2020 is compared to a loss of operation of one point 1 million in the second quarter of 2005.

nothing

Attributed to any City in the second quarter of 2020 was $227,000 of 0.0. $2 per basic and 0 per diluted share wage compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019.

The net income is primarily a result of gain from starting to consolidate micronet and financial income result from the cancellation of recording impairment for my connect.

Turning to slide 8 on our balance sheet. We have nine point seven million increase in cash equivalent three hundred and $5,000 in receivable 9.3 million Bank in Edward l 1 million in net working capital and six point five million in shareholders Equity as of June 30th 2020. I will now turn the call back to the ring. Thank you for calling the cool everybody today. We are excited about the future and to continue to build value for both are long time and new investors are like thank you. This concludes wage results conference call. Thank you for your participation. You may go ahead and disconnect. Thank you. Good morning. And thank you for calling interview em second quarter 2020 results management will provide an overview of the Revolt importantly there's a slide presentation which management will use during their overview. This presentation can be found on the investor relations section of the company's web site www.nike.com under events and Thursday.

You may also access a PDF copy of the presentation by clicking the link in the company's press release regarding these Financial Results issue this morning and then clicking a second link labeled second quarter 2020 results College accessing the PDF a copy of the presentation lead to manually scroll through the slides as management goes 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 Express and implied forward-looking statements within the private Securities litigation Reform Act of 1995 and other US Federal Securities laws, these forward-looking statements include but are not limited to those statements regarding the belief that the merger with gsh and the recent investment in micronet will create synergies and advantages for both come off our expectations regarding the global logistics and transportation telematics industry growth and the belief that a majority stake in Merrick or not. We'll ever dark Global platform to grow the telematics business as well as fintech such forward-looking statements and their implications of known and unknown risks and 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 factors wage.

And elsewhere in the company's annual report on form 10-K for the year ended, December 31st, 2019 file with the Securities and Exchange Commission and elsewhere and subsequent filings with the Securities and Exchange Commission off this morning. We have Darren Mercer chief executive officer and board member of m i c t and Moran Imran control of m i c t and again as a reminder management will be referring to a slide presentation that can be accessed by the investor relations with the company 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 and two June 30th 2020, and we will move to review the numbers with more on our own elsewhere in the call over to Darren. He'll begin the presentation on slide three, please go ahead Darren. Thank you and good morning everybody if I can send your attention to slide three of the presentation.

We're very pleased and excited.

The recently-closed to be critical transactions which are contemplated to create significant value for shareholders in connection with such transactions that she went to MIT teenage controls operating businesses in the global context sector gfh, and the telematic sector micronet micc believes that it is well positioned to grow revenues and earnings month on July 1st, 2020 mict completed the acquisition of GF H or approximately twenty-five million dollars in convertible Securities about my CT launching a CT into the global context and Industry.

Pending shareholder approval and September 3rd, 2020 mict special meeting of stockholders m i c t expect to receive the balance of the $15 million dollars that remains Sunday through convertible promissory notes for vegetables shares of them ICT common stock upon stockholder approval after conversion price of $1.10 per share with additionally just one week before the end of the second quarter on June 23rd, 2020 mict increases position in micronet limited outstanding ordinary wage at my CT currently owns, 53.39% of micro not limited to our standing in the shares. Just giving em OCT controlling interest at least telematics business subsidiary.

Through gfhd experience and network in the Asian markets. We believe we are well-positioned to expand microdots business beyond the US and Europe into Asia.

Yeah position of gf8 fingers crossed over benefit to the telematics business and it's a driving reason from mict decision to increase it's taking micromass.

Gap accounting principles in the third quarter of 2020 mict will now report revenues and financial results from gf8.

If I can send your attention to slide full.

And he believes that it is created a tremendous platform for future growth this platform combines the anticipated organic growth of our operating businesses in context and telematics with strategic Acquisitions that are contemplated to be completed in the future in an effort to further expand these businesses.

Mike vineski is well established for the robust product portfolio and installed base of customers including Global Logistics and trucking companies in the global telematic market, which is expected to grow to $45,000 by 2020 to according to the ground view research.

Gfh is versatile for prior to trading technology platform is designed to several large number of high growth factors as well as to interface with platforms used by strategic partners.

Gfh is primary focus include online brokerage for equities trading and sales and insurance products and several foreign markets.

Yes.

In primary focus will be on provision of services in China by the significant growth in the country after one class have driven a surge in demand for investment products and Wealth Management Services off with several accretive acquisition opportunities in the context and telematics sectors currently in our Pipeline and under consideration. We are conducting due diligence and looking forward to announcing the achievements of national Revenue driving it out in the future if I can now turn your attention to slide five.

On Slide Five you will review at my CTS 2020 Financial results as a reminder between February 24th, 2019 and June 23rd. 2026 am i c t held less than 50% ownership of my crafts and therefore did not include micromedex Financial results during that time in this Consolidated financial statement based on generally accepted accounting practices gaap Financial results of the 3 months ended March 31st, 2019 reflect micronet limited revenues for the month of January 2019 and February 2019 only mict will include my credits p&l Financial results and its Consolidated statements beginning of the third quarter of 2020.

Mict reported no revenues gross profits or research and development R&D expenses in the second quarter of 2020 and 2019 Edge in general and administrative sg&a expenses 2020 with $668,000 compared to $670,000 in Q2 2019 month. Nothing, It should be school for my CT with $227,000 to $20 compared to a net loss of one point 1 million dollars in Q2 2019.

As of June 30th 2020 mict at nine point seven million dollars in cash.

I will now turn the call to him around for a more detailed Financial. Thank you Deron and good morning, everyone the next slide Illustrated the revenue for the six months. And then June 13th. 2012 is compared to the same period in 2019 Revenue was zero in the first six months of 2020 compared to $477,000 in the first six months of 2019 slide seven provide more detailed breakdown of the second quarter and six months and the June 30th 2020 is compared to the 2019 numbers off total operating expenses in the second quarter of 2020 was $668,000 as compared to $670,000 in the second quarter of 2019. Although I didn't income was $227,000 in the second quarter of 2020 is compared to a loss of operation of one point 1 million in the second quarter of 2005.

I think I'm attributed to a my city in the second quarter of 2020 was $227,000 of 0.0. $2 per basic and 0 per diluted share name is compared to a net loss of one point 1 million dollars or zero point $1 per basic and diluted share in the second quarter of 2019.

The net income is primarily a result of gain from starting to Consolidated micronet and financial income result from the cancellation of recording impairment for microland.

Turning to slide eight on our balance sheet. We have nine point seven million in cash in cash equivalent $305,000 in receivable 9.3 million in Bank in Edward M. 1 million in net working capital and six point five million shareholders Equity as of June 13th 2020. I will now turn the call back to the thank you for calling the cooler. Everybody stay. We are excited about the future and to continue to build value for both how long time and new investors are like thank you. This concludes 6:20 results conference call. Thank you for your participation. You may go ahead and disconnect.

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