Matthew Bellizia
CEO, MD & Director

Good morning, everyone. Welcome to Dubber Corporation's quarter 3 quarterly update. It will be delivered by myself, Matthew Bellizia, CEO; and Prasad Kasi, acting CFO of the company. The key messages going into this quarterly update, next slide, if I can, please, Prasad.

Our underlying operating cash flows run rate turned positive for the entire quarter. So it's the first full quarter in any history -- in Dubber's history where we've had underlying cash flow run rate positive for the entire quarter. We continue to heavily invest in AI and R&D in order to continue to bring forward the products. And we're getting really purposeful about what we build in R&D and what we're going to deliver and I'll talk more about that in later slides.

We advised last quarter that we signed a Tier 1 North American CSP who made an initial payment of USD just over $3 million. That is for a 5-year connection fee to the network. The network is currently in place. The contract goes from the 1st of January 2026 for 5 years, 60 months, and will be accounted for equally over that 60 months at USD 48,000 a month. The subscription revenue will commence on that network shortly. It was originally planned to be March-April. It's probably more going to be around June, July, August. They've got delays at their end. It's not at our end at the moment.

I will tell you the name of the network because we don't believe that's sensitive. What is sensitive is the fact that we received the payment and we've