Good Evening Sisters, Brothers, and Retirees.

With the ongoing tariff threats, unfortunately, there will be layoffs next week, affecting five employees so far. However, the company is still operating with 18 extra bodies, and decisions continue to be made on a week-to-week basis.

The Oil Temper business has continued to decline. At this point, they just have enough demand to sustain one production line. The OT stock area is full, and there have been no shipments to the U.S., which typically accounts for 60% of our oil-tempered business.