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Good afternoon, and welcome to the Universal mCloud's Fiscal 2019 First Quarter Earnings Conference Call. Today, the company will provide both the recap of fiscal 2018 and discuss the unaudited results for the first quarter ended March 31, 2019.Joining the call today from Universal mCloud is Russ McMeekin, Chief Executive Officer; and Chantal Schutz, Chief Financial Officer.Before we proceed further, please note that the remarks made on this conference call may contain forward-looking statements about Universal mCloud's current and future plans, expectations, intentions, result, levels of activity, performance, goals or achievements or any other future events or developments. Forward-looking statements are based on information currently available to management and on investments and assumptions based on factors that management believes are appropriate and reasonable in the circumstances.However, there can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause actual result, levels of activity, performance, achievement, future events or developments to differ materially from those expressed or implied by the forward-looking statements. As a result, Universal mCloud cannot guarantee that any forward-looking statements will be materialized, and you were cautioned not to place undue reliance on any forward-looking statements.Except as may be required by law, Universal mCloud has no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. For additional information on these assumptions and risks, please consult the cautionary statement regarding forward-looking information contained in the company's most recent MD&A available on sedar.com.At this time, I will turn the call over to Russ McMeekin, Chief Executive Officer of Universal mCloud. Please go ahead, sir.
Thank you very much, and welcome, everyone. Before I get into Q1, I first want to provide you an overview of 2018, which was filed last night. First of all, we saw solid growth based on our AssetCare velocity, which will carry into 2019. When you combine all the business units that comprises the mCloud portfolio, our combined revenues would have been approximately $11 million for the full year. Chantal will walk you through later as it relates to 2018 and 2019, some of the new accounting policies that were adopted, in her prepared remarks.That leads me to the welcoming of Chantal to the team. She brings solid accounting and executive management leadership skills. Also, she is a very proven entrepreneur with extensive accomplishments, so a great addition to our team. She is based here in Vancouver with us. So this will provide a lot of continuity to the leadership team. So welcome, Chantal.As previously announced, we now are in the final stages of our definitive agreements with both CSA and Autopro. Again, as previously stated, the combination will add, on a trailing basis, $37 million of revenue and approximately $6 million of EBITDA.Now moving into the first quarter as we announced just this afternoon. On a standalone basis, mCloud recorded $2.2 million of revenue, a normalized income loss of $550,000. CSA standalone reported $420,000 with EBITDA of $85,000. Autopro standalone reported $8.4 million and EBITDA of $1 million. So as a group, when you combine them together and you represent them as one operating unit, revenues would have been $11 million and normalized income of approximately $550,000 positive.Major accomplishments in the quarter, breaking it up by our segments, Smart Buildings. During the first quarter, we signed up many new QSR branded names, so those are onboarded. TELUS Corporate Real Estate in Scarborough, Ontario went live. Heiwado in China, a large shopping center in Hunan province went live.Moving to Smart Building -- Smart Wind. Britwind signed and is now focused on onboarding and has plans to deploy as much as they can over the next 12 to 24 months on their 1,000 turbines which is a captive fleet they have under their management. Smart Wind in China is off to a really strong potential start here with a number of very solid agreements that were in signing phases throughout the summer. So we expect to see some momentum or material movement there in the second half. And we just recently commenced discussions with a California, Canada and U.K. operator, a very large wind turbine operator, and we expect to discuss more of this later on this year.Moving over to Smart Oil and Gas. We've been working closely with the Autopro team, and we'll have some very early customers post-closing that we will action and go live with. And again, we expect to see some of this, make some material progress in the second half of 2019. Bottom line is, we're on track to meet or exceed our 40,000 connected assets by year-end, which is a goal we've set for ourselves for this year.Now I'll turn the call over to Chantal. Then we'll take questions.
Thanks, Russ. So it's no secret that the annual filings were delayed. IFRS 15 proved to be complex and quite complicated for the company. The standard has now been reviewed, implemented and fully adopted, and it can be found -- more details can be found on Page 12 of the annual MD&A. For annual 2018 and Q1 2019, management introduced a normalized presentation of income in the MD&A in order to separate the expenditures made by the company related to acquisition and growth incentives, that Russ just summarized and to more accurately, represent income from ongoing operations. The details there can be seen in the MD&A on Page 2 onwards.Cash ended the quarter at $150,000. Following this, we received our ongoing customer receivables that added to our cash position, and we've announced our next financing expected to close mid-June 2019. And not related to the debenture, but tied to the Autopro transaction, we have signed a term sheet for a loan up to $15 million combined with other facilities tied to Autopro that will more than fulfill our transaction.On the balance sheet, you'll notice that trade receivables went up $1.3 million, and deferred revenue went up $2.1 million. These are both in relation to the Agnity transaction, which closed January 22.And I'm now going to turn things back to Russ.
Thank you, Chantal. So in summary, we are making great progress. So if you were to compare apples to apples that is mCloud, Agnity, CSA Q1 2018 to Q1 2019, 2018 would have been a combined $1.8 million. Now in 2019, it's $2.6 million, so a solid 50% year-on-year growth.Additionally, we're making very smart acquisitions. And last but not least, we have now 3 very solid defined vertical segments that we can deploy our flagship asset care AI 3D cloud solution.So now with no further ado, I'll turn it back to the operator for questions.
[Operator Instructions] We currently have no telephone questions at this time. I'll turn the call back to Russ.
Okay. Well, that's excellent. Well, thank you very much. Again, if you look at the filing statements we've put out in the last 2 days, this extensive amount of information, and that we look forward to speaking to you at the next call. So thank you very much.
This does conclude today's conference call. You may now disconnect.