Roy Anderson: Thank you, Yinghua. Good afternoon, everyone, and thank you for joining us today. Our total revenues for 2023 were $7.7 million, up $1.3 million or 21% from 2022. The increase was primarily driven by an increase in sponsorship revenue relating to the renewal of our naming rights agreement at our flagship Esports facility, HyperX Arena, Las Vegas. Season 2 have elevated and 2 months of revenue from our recent acquisition of Z-Tech. On a quarterly basis, revenues for the fourth quarter were $2.1 million, a $0.9 million or 70% from the prior year period. The increase from the fourth quarter of 2022 was driven by an increase in HyperX Arena sponsorship revenues and 2 months of Z-Tech operations. Turning to expenses.
In 2023, total costs and expenses were $14.3 million, a decrease of 21% compared to 2022. The decrease in costs and expenses is primarily due to a $3.2 million or 30% reduction in general and administrative expenses. For the fourth quarter, total costs and expenses of $4 million saw a slight increase of 2% compared to the fourth quarter of 2022. Our net loss was $3.6 million in 2023, down significantly from $10.8 million in 2022. The decrease was driven by revenue growth within our multi platform content and casual mobile gaming streams, interest income on our short-term investments and our continued focus on managing our expenses. For the fourth quarter, our net loss was $1.1 million, compared to $1.7 million in the prior year period. Our 2023 adjusted EBITDA loss of $4.6 million was down from a loss of $8.6 million in 2022.
Our fourth quarter adjusted EBITDA loss of $1.2 million also improved down from a loss of $1.7 million in the fourth quarter of 2022. Our adjusted EBITDA includes adjustments for depreciation, amortization, business acquisition transaction costs, stock-based compensation and interest income. Now on to our balance sheet. At December 31, 2023, our cash and short-term investments position totaled $78.6 million, including $5 million of restricted cash compared to $86.8 million at December 31, 2022. The company’s working capital surplus defined as current assets minus current liabilities was $66.4 million at December 31, 2023, compared to $79.1 million at December 31, 2022. Also, during the quarter and under the stock repurchase program mentioned by Yinghua, we acquired 36,977 shares of our common stock in open market transactions at an average selling price of $0.83 for a total repurchase cost of $30,846 excluding broker fees.
We continue to believe that our current share price does not reflect the company’s intrinsic value and we’ll evaluate further repurchases based on market conditions, stock price and other factors. I now turn the call back over to Yinghua.
Yinghua Chen: Thank you, Roy. 2023 was a very busy year at Allied Gaming & Entertainment, and one that we believe set us up extremely well to capitalize in 2024 and beyond. Across the Allied ecosystem, we have made great progress, advancing on our initiatives and have continued to demonstrate to our current and potential customers and partners, the value and entertainment that we consistently provide. With Z-Tech now integrated into our business, AEE finalizing events and expanding its presence in Asia and the continued demand we have for our AEI properties and content, I would like to reiterate that we’re extremely excited for the year ahead and very confident in our path forward. Thank you for your time today. We look forward to speaking with you again when we release our first quarter 2024 results in May.
Operator: And ladies and gentlemen, that does conclude today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.
