Live April 20

Yeah, and again, like, like, if we were experts at this, it'd be so much cooler. But you know what we're experts at? Getting deals and doing real estate, not this freaking Zoom shit. And pardon my French.

Hello, Tommy. They were live jumping in now.

Let's, let's just do it.

Okay. Making sure what you guys see. Here we go. Okay, so super excited to be doing this with you. Tommy and I are going to be doing this one together. So, so in today's session, we're going to be taking a deeper look into how investment funds are structured. So using Titan 23 as a real-world example. So this is not a presentation about how to invest. Or a solicitation of any kind. Instead, it is an educational breakdown designed to help you understand how funds work, how they are designed to benefit investors, and how different types of investors typically participate in these structures. So, um, I want— yeah, again, understanding, um, you know, what the purpose of this is, and we're just using this as as an example of exactly how we're going to be teaching you. Titan 23 is our fund, and it does have investments in it. They're only for accredited investors. And the thing I want everybody to understand is that when we're understanding, you know, success leaves clues, right, is that the wealthy investors, this is what they invest in. And if you actually— most of you have received my homework of reading Tony Robbins' book, The Holy Grail of Investing. And what he did is he interviewed all these billionaires and he had them literally pull back the curtain and he said, listen, like, talk for real, tell me what you're investing in. Like, are you investing in 401(k)s, like the stock market, all of that? Long story short, when you go through it, they're not investing in any of that. What they're investing in is private equity, which is a form of these, uh, this type of fund. So we're just showing you this because again, this is our fund and, um, to show you this is what the wealthy invest in. So I always like to, like to, uh, point out, you know, if success leaves clues, if I'm doing things similar or the same thing that successful people are, I should get similar results. And funny enough, as a result, I have. So we're here to share all of this with you guys. So really excited about this. Um, Tommy, you want anything more?

Next one. So, um, to understand, as most people hear the term investment fund but never fully understand what it actually means, right? So, uh, funds, uh, historically are one of the ways, uh, that capital is pulled together to access larger, more complex, often more profitable opportunities. Without the structure of a fund, many individual investors would just not be able to participate in these types of deals on their own. Okay, understanding how a fund works is a critical step in becoming a more sophisticated investor. Okay, and so some of the things to pay attention to is in the individual DIY investing, barriers to entry are, you know, compared to the fund model, you can see that high capital requirements are needed for institutional deals, right? To access those larger opportunities, you got to get with a group of people to spend that money. Imagine your money or your money for investing is set up like, say, for example, like a block to build the pyramid. Right. The blocks to build the pyramid didn't get smaller as they went up. They were the same damn size all the way to the top. Right. But the only way to build it that freaking tall was to have a collective of people put up, putting all their stuff together to get those blocks moved into those places. Right. And that's kind of what I imagine a fund is. It's a fund is set up like a pyramid of blocks built by a group of people to achieve this monumental, monumental feat, right? So the time commitment to that shows that it's— when you're by yourself, it's really high. When, when you do it together, it can be handled quickly. And that's, and that's, you know, going to the other side of it, like rewards and returns are also measured against risk. So in a single asset, if you're the only one dancing in that investment, you're, you're, you're what they call exposed heavily. Whereas when you do a fund with somebody, they do funds to spread that risk out, right? Just like the base of the, of the pyramid, it's spread out. So go ahead and move to the next one.

Yep. So at the core, a fund, just it's a legal and financial structure that allows multiple investors to pool their capital together. So this pooled capital is then deployed into investments that are managed by a sponsor or a management team. So the structure defines how the decisions are made, how profits are distributed, and how risk is managed. So again, and you guys have all heard me say, you know, it's like when I had that light bulb moment when I was doing Flipping Females and figured out that, you know, it was how we had it, we had one investor per house, that's all it was. And so of course, it was limited to the amount of capital that they had available and had access to. And when I realized that the same amount of time that I was putting into flipping one house was the same amount of time I was doing a commercial deal, only there were way more commas over here, all of a sudden the light bulb went off. However, the structure had to change in order to have access to more capital to be able to do those bigger deals to add more commas. And so that's what the fund gives us is that ability to do those bigger deals together as, you know, a collective group of investors altogether. So that's really what it means, which is really amazing. And what I love about a part of like what Tommy has done is we've actually created a GPT for our fund so that anybody can actually go into it and ask questions to have it break down like what that actually means and what like the copious amounts of documents. Because each PPM, Private Placement Memorandum, is multiple, multiple, multiple pages, sometimes a book. And it just seems like a lot. It's a lot of legalese. But with— thanks with, with AI, we now can break it down into 5th grade language. So that we can fully understand what it's actually saying in plain English versus legalese. So this structure is very, very, very advantageous for all of us to be able to be a part of. So I'm really excited about this.

So on this slide here, we see that the architecture of the fund, the way that it's designed, right? It's based on legal framework. It has a balancing system to it. You know, if you can understand that almost all funds are structured the same. What the differences are, are explained within the participation of the sponsor or the general partner and the returns or the profits of the investor and the limited partner. Okay, so there is a management team typically that's the sponsor, and they are responsible for sourcing the deals, getting underwriting, executing the investments. Right. And so they're going to be in the position of, of, of finding the deal, if you will. Right. The other side of that is the investors that contribute the capital to participate eventually in the upside. According to predefined terms, meaning that we're going to explain through legal documents that govern how everything operates, including the rights, responsibilities, and risk disclosures of the investors and the general partners. Okay. This structure creates an alignment between the operators and the investors. And what it does is some of the terms you can pay attention to. Are like PPM agreements, like subscription agreement as a term, OM. And so typically one side is needing the money, the other side is needing the stability of a good returning investment. And that's where the partnership, the who that knows how, as Catherine likes to say, comes together. Okay. And so through this, um, the legal structure doesn't just create the rules, it engineers how everything is aligned, and it makes it to where one side can't take advantage of the other and vice versa. It's really the protection clause between both groups so that, that the work gets done and the investors get paid. So, um, any questions about that? Does anybody Um, is anybody confused about now how a fund looks at the base level? No, I think we're making it clear. Questions? If you did have any questions, now is the best time to ask them because we're going to move into, um, what it looks like at Titan 23. Because we take— we took the basic model, okay, which was focusing on, on— and the investors get paid. So, um, any questions about that? Does any— is on real estate development value-add opportunities. And in Titan 23, that mechanism is through getting, um, getting, uh, capital, uh, to unlock projects that, that are difficult, if you will. Okay. Um, basically in the path of progress, but somehow have an issue with getting, getting development in that path. So the goal is to provide everyday investors access to these institutional-type deals that require a significant amount of capital expertise and relationship building. So Titan 23 is an example of real estate-focused investment designed to aggregate capital and deploy it into the right developments that have the value-add opportunities. So our goal is to always provide access to the projects that typically require, like, you know, 18 to 20 months of work. And we're going to minimize that and prepare it for the developer who's able to take it out of the ground. So this is what we would call Phase 1 style development or Phase 1 funding. So go ahead, Catherine.

So the objective of our fund Titan 23 and funds like this are typically centered around a combination of income generation, capital appreciation, and long-term value creation. And that comes in multiple forms. So this can include producing ongoing returns, increasing the value of the asset itself over time, and positioning investments for future liquidity events, just like Tommy was talking about. And especially as we're sunsetting on Opportunity Zones 1.0 and sun rising, I don't know what that's called, but on Opportunity Zones 2.0, which starts January 1st, 2027. So by us getting out in front of these projects and being able to set them up to be able to participate in that, That's the beauty of this and understanding. Like, here's the thing I want everybody to understand, it's why I love real estate so much, is that there's multiple phases of any real estate investing project. And so when you understand, which is why we have the investor surveys and have everybody do those and then be a part of that and then hand it off to the next person or company or entity that wants to take, take that to the next level. So that's how we're structuring— how this is structured and analyzing deals and finding those so that again, there's where the project is coming from, the piece that we play, and then where we're having the, the project go to. Again, that's the keep the end in mind, so start with the end in mind. So that's exactly what we do with all of this, is it's always having the end in mind, but of course making sure we do the numbers. Numbers tell us what to do so that we generate the income, the capital appreciation happens, and then however the liquidity event happens, that it's aligned with the tax advantages as well as the community. So again, it's another way that we're leaving every person, property, and community better than we found them. Everybody in, uh, every single stage gets to be left better than we found them, which is really amazing. So, um, the pillars of investing. So, uh, the different asset classes— this is really important in understanding, um, the diversification that needs to happen. So not only access to what we're working on, but the diversification inside of the portfolio for our investors. Our investors are number one. And that's the thing that we're always going to protect. So in this case, that includes real estate developments, land positioning, and projects that may benefit from macroeconomic trends, such as population growth, infrastructure expansion, or tax advantage zones. So the strategy is what guides how the capital is actually deployed. Again, the importance of everybody really understanding the opportunity zone if you haven't had a chance, please go get and read our book, uh, OZ Wizard 2.0. We have it on paperback, Kindle, and audio. The more you understand this, the better it's going to be, uh, especially with what's happening over the next 10 years. So if you're gonna be investing in the next 10 years, this is something you're going to want to make sure you absolutely understand what we're talking about with this. Um, so Again, the pillars is because of the who, not how, we have access to these particular institutional deals. Again, the diversification, we'll talk more about that in a minute, about the different asset classes. And then, of course, the most important part, which is the, the man— the professional management of all of this, from the sourcing, underwriting, and then the execution all the way to exit. And then because of that, building the band, That allows us to have scalability to be able to continue to grow this, not only in our community, but in everybody's communities, which is really exciting. And again, doing more projects than just one house at a time.

So the thing about the pillars and how we, how we get through these deals is important. What we like to talk to investors about is that there are several ways investors typically benefit from participating in fund structures. Right. Basically, if it's, if it's built properly, typical risks are mitigated because of a number of reasons. First, there's the access, right? Oh, I'm sorry. Wait, the— our script is off. Slide 9 and slide 10. The importance is the risk is mitigated. So fund structures are typically aligned to manage and risk the mitigation, but they don't eliminate it. It's up to investors to always understand the terms, the strategy, and the potential outcomes before participating in any opportunity. So that's why we feel like education and awareness are key components Responsible investing. Some of the things that you have to take into consideration when looking at these things are, you know, what are the inherent risks like construction delays, material, material issues. For example, some people may or may not remember, but being in the construction field, I went through the lumber crisis of 2021. One day I walked into Home Depot and my plywood was $8. The next day I walked in, it was $22. The day after that it was $33, and the day after that it was $44. And I literally, in a week's time, watched plywood go up higher than I was putting gas in my vehicle and couldn't understand how I was going to finish the job at that point. I had actually used $8 sheets of plywood to block windows during demolition so that I wouldn't damage people's property. It got more— it got cheaper to throw bricks through the windows than it did to buy the plywood. So that's an example of material risk, right? So what we do is we're able to use specific risk mitigation opportunities by utilizing the experience of going through these things in the past and finding ways around them. And that's what we call mitigation. Those are the terms, and that's an example of mitigation, is how you can go around these things. I would not suggest replacing windows. I would suggest finding another source of blocking material, uh, to keep stuff. And I learned that moving blankets were only $9 at U-Haul, so I went and bought those, and those were easier to move, easier to store, and they were better than the sheets of plywood. So an example of mitigation becomes, becomes a tool.

And it's something that's really important inside of whenever you're looking to invest with somebody, ask when they failed and you want to know that they failed and more importantly, how they handle it and got through it. You don't want to be their first failure because the thing you want to know is that things always will go sideways because we don't have a crystal ball and we can't, you know, have a magic wand to make it all be perfect. So what you want to know is when the failure happened How did they navigate through it? Because that's going to be— the past predicts the future, and it's going to tell you how they're going to manage when things don't go exactly according to plan, and how we're going to get through it, and how you as the investor is going to be protected. So it's, again, these are just some of the questions you need to be asking. Again, if they say, I've never had a failure, run. Like, don't be there for the guinea pig on their first failure. Like, I'd rather work with somebody who's actually been through gone through some stuff and has some battle wounds and scars because they can tell me how they got through the other side and I can say, okay, like, does that fit for my, my risk profile, my personality and all that, and understanding we're essentially linking arms as we move forward when things go sideways. So again, just as an investor, some smart things to be asking. So the investor landscape. So there are several ways that investors typically benefit from participating in fund structures. So, of course— oh, wait a sec. We already went over this: the access, diversification, professional management, scalability. But then there comes the education, which is really, really important for people to understand. The types of investors. So education is a really important piece to everything that you're doing. So again, which is what, what we provide through the Lion Shark Mastermind. There's plenty of books that you can read now with AI. There's lots of different ways that you can get yourself educated about all of this, but staying up in front of all of it is I don't know. To me, it's like the most important piece to, you know, as an investor, what we're going to do. And again, this brings in the understanding what type of investor you are, which is why we have the investor survey.

So we're running tight on time, so I want to stick to the script.

Okay.

If we can. And basically just there's 3 types of investors. There's, you know, investors that are on the educational pathway. They're there to learn about how to be an investor. That's, that's what Catherine's alluding to is our— we've got, we've got some opportunities for people to come in and be joint venture partners with us on some deals through the Land Shark Mastermind. But then there's also the non-accredited but sophisticated investors, and these are people that are already in deals on their own. They've been using their IRAs to invest, they're using their 401(k)s to invest, they're maybe even using collateral or equity from their homes to do this. But they're investing on a foundational knowledge base of some sort of investing. But then there's the Titan 23 accredited investor, and this is These are capital-ready individuals that are buying in on, on real estate as if it's almost like a security. It's practiced like a security, right? So the funds typically involve different types of investors, and these investors range across the spectrum. But for the key point and the key distinction for Titan 23 is that We're dealing with the accredited investors, right? But when we deal with them, we're also looking at the key distinction that it's not just about the capital. It's about understanding what they want, what they need, their alignment, and what the participation level is. So we want to teach about the accredited versus the non-accredited, and in that context, so that's why we have like 7 streams. Mastermind, Land Shark Mastermind. We teach about those things there. We're part of the Opportunity Zone Wizard. But then there's also the different pathways to access that are showing up to these webinars and talking to us afterwards in the Q&A, which I'm trying to hopefully catch before the 45-minute deadline. But anyway, if there's any alignment that we can do, that's the point of these things, is to kind of get us set up to, to discuss. So, um, uh, Catherine, this is the one I think you're focused on. It's slide 12, the role of the sponsor. Maybe you can go into the— all the different things that, that we do here, uh, from start to finish for the investors.

So the, the sponsor or the management team plays an absolutely critical role for you as an investor in the fund. So They're responsible for identifying opportunities, performing due diligence, structuring deals, managing execution, and communicating with investors. So the quality of the sponsor is often one of the most important factors in the success of the fund. So all these pieces are why, again, it's the who, not the how, that manage all of these pieces. So it may look like, oh, they just have a fund, like, there's so many things happening in the background to make sure that the investors are protected, that the project is moving forward on time and on budget. Like, so many moving parts, um, and that is ultimately what the role of the sponsor is, which is super, super important. So, um, how Bill— so I love this. So funds are not typically a standalone solution like we've been talking about, so they have are one component of a broader wealth strategy that are, that include multiple income streams, tax planning, and long-term asset allocation. So understanding how funds fit into the larger picture is essential for building sustainable wealth. So as you're building your, your essentially your family's wealth, understanding that this is a piece of it. And again, I can know we have some 21-year-olds in here who are like, why do I need to know this? I promise you, at some point in your life, this actually matters. And the sooner you understand this, the better off you're actually going to be. Again, this is a huge part of keeping the end in mind. Yes, you may not be a millionaire yet, but at some point you will be. And if you know all this before you get there, the easier your path is actually going to be when it comes to building it. So, um, Within the Titan ecosystem, Titan 23 represents the investment engine. So it works alongside Land Shark Mastermind for deal flow, Wealth Wise Women for income strategy, and other components that help investors understand, access, and optimize opportunities. So this integration is what makes the system more powerful than any single piece on its own. So you understand it's a whole ecosystem Because again, building your wealth, this takes something. This is a whole education in itself. So this is why we've brought all these things together for everybody to continue to learn and grow and have the who's that know how to help walk alongside of them to help build out, uh, the financial legacy that they're building for their family.

So as a matter of fact, our next— uh, stay on that slide if you don't mind. The, um, uh, the next 3 webinars are about the Land Shark Mastermind, the Wealth Wise Women, uh, organization, and the Opportunity Zone Wizard, OZ Wizard. And so, and how all these tie together is basically based on the, on the fact that Land Shark is where the deals come in. The WealthWise Women community and the Seven Streams Mastermind is where the community comes together to pick, is this a good deal? Is this not a good deal? It's a collective on what the community needs, right? And then the Opportunity Zone and tax strategy, that's for when, like, when we do get that win, we're keeping— I'm going to just say it, I don't care— we're trying to keep over $1 trillion out of the government's hands. Like, they don't need any more learning centers. In this country. So we're going to keep that money out here in the investor's pocket where we can then go back and put that and source it back into Land Shark Mastermind deals. That basically the, the concept of Land Shark Mastermind, you'll learn in that, in that webinar, its basic mission statement was to, to help develop and grow the path of progress in a moral and ethical path that is ahead of corrupt governments and, and big Wall Street firms. So, the goal, the goal to the Land Shark Mastermind is built behind that. So, and you'll learn more about Wealth Wise Women and OZ Wizard, uh, to come. So that's all I wanted to add to that. Um, but down here, um, the core educational takeaways to this is that by now you should have a clear understanding of how investment funds are structured. How they operate, and why they exist. The goal of this session was not to sell anything, but to provide clarity so that you can approach, uh, investing with a greater confidence and knowledge, uh, base. Okay, uh, understanding that with, you know, uh, uh, clarity over the complexity, uh, you'll have the ability to confidently get into these things with a knowledge base that will help you grow into that educational wealth. Like Catherine said on the earlier slide, this is just a piece of a bigger puzzle. And so that's why we wanted to start with this after the Titan Impact Group webinar, was so that people understood, you know, like, here, this is our, this is our brain. This is what, this is where our mind is and what we're trying to do. So.

and for them, how to build generational wealth, right? So in the next webinar, we're going to move through structure, from structure into execution, and we're going to show you how deals are actually found, analyzed, and evaluated in real time through the Land Shark Mastermind and Deal Hunter process. So we hope that you all join us for that. And so if at this point, if you have any questions, We would love to be able to answer those. And more importantly, I would love to know, like, what are you choosing to take away from this? What did you learn? What is the aha that you have? Yeah, Tracy.

I just wanted to ask you some, a couple of questions that maybe people don't know to ask. Yeah. About what makes Titan Fund, the one that you have, different from other funds where you can actually invest in multiple asset classes where other funds can't do that.

I love you, you're so smart.

Yeah, that's a, that's a great question. Um, and, and to, to really get more in-depth into that, um, the, the, uh, the Titan 23 fund, we, we actually didn't go into a lot of explanation of that because of the fact that we want to, uh, preserve that opportunity for people to come back later. But the Titan 23 operates with a PPM just like every other fund. It's just that we use what's called an A-3 disclosure statement that allows us to raise capital just for one asset at a time under that one umbrella of PPM. Because of the fact that we're not buying something and holding it for 5 to 7 years, typically we're doing an acquisition and a liquidation event within a 36-month time period. And so then at that point, our investors don't collect upside— or I'm sorry, our investors don't collect cash flow and disbursement like a like a K-1 disbursement from an oil and gas fund that Catherine did. She's got a debt that pays out on the liquid event of a sale, which is anywhere between 12 and 36 months.

And Tracy, we'll dig— I know what you're talking about. We're going to dig further into what type of fund this is in a future webinar. So we want people to come back and learn more about that.

Number 7, the last one.

Also, I think the next webinar got switched.

It did. So webinar number 3 on this slide says the Land Shark Mastermind and the Deal Hunter. That'll be actually webinar number 4. Webinar number 3 is going to be Tuesday at 9:00 AM next week on the 28th. And that is going to be the Wealth Wise Women's webinar hosted by Catherine Bell, Tracy Gore, Laura Miller, Victoria Jackson, and, uh, Amor, uh, uh, it's just Amor Porter. Amor Porter. Yeah, my brain just farted. So I'm like, I just— she's just Amor to me, like Amor and Jesus. When I think Amor, I think Jesus, vice versa. So, um, at that point, those ladies are going to talk about their experience and something that has been going on for how long? How long has it been going on?

Uh, I started Wealth Wise Women 4 years ago.

There you go. So over, you know, over 4 years ago, um, on their— all— they were all like 29, I think, and they said they were going to just start this thing, and they've been doing it ever since. So, uh, yeah, and, and some of the amazing things that come from it will be talked about on that show. So 9:00 AM Tuesday the 28th, um, and then to learn about the Land Shark Mastermind, right, because we had it set up where the Land Shark Mastermind is actually kind of like the— I said the Titan 23 is the brain. Titan 23 is more like the body. It's the vessel, right? It's the whole body. Um, Land Shark Mastermind's the brain. Wealth Wise Women's the heart. Okay. Um, and then, uh, we have the, um, Opportunity Zone, which is kind of the, the, uh, uh, pocket, the purse. It's the, it's the, uh, Gucci bag, if you will. So, um, those are the next 3 webinars that people need to get signed up for. I don't even know what the rest of them are. You go to, uh, the landsharkmastermind.com website, click on, uh, the 7, uh, 7 streams, um, link at the top. I believe it's still on there. Um, yeah, it's, uh landsharkmastermind.com/7-streams, and you'll, you'll end up on the, uh, on the page that tells you which webinars are what. The dates are right on there. Um, and so we have Chosen Forever on May 5th. That's the third one. That's, that's Catherine's soul. That, that's the soul of all of this. And then, uh, we've got the, uh, uh, path to participation, the Seven Streams Investment Club. We're going to talk a little bit about, uh, something cool going on, uh, it's called fractional, uh, investing, right? That's going to be big, so we're going to talk about that. And then that all leads up to the May 19th through 21st, Welt, uh, the, uh, Welt Summit in Scottsdale. Where we're going to be introducing and bringing people in to talk about Opportunity Zones, about 7 streams of income, and about Titan 23. We're going to actually launch, I believe, during the live event, we're actually going to be launching one of the funds for one of our projects. We're not quite sure yet. We think it might be a custom-built luxury house in Scottsdale, Arizona. Um, and so it's good possibility to— we will actually be offering debt and equity on that. Um, but more details to come. So, but, uh, uh, people want to see what that is. We're going to actually put up a, a flyer on it and, um, be talking about it because we will be taking live investors into that deal. During that podcast, during that webinar. So, but we just got to get our documents done by then. And our wonderful TC coordinator manager, Laura Miller, is on the snap with that. So that's all I got. Any other questions?

I wanted to make a comment about the in-person event that's going to take place. Do we want to have people understand that it's kind of be like a working thing where they can get some hands-on, they can, they can kind of get in involved with it?

Yeah, well, one of the things is that we're going to actually, because Amor and I have been talking about it, the big thing is, is going to be that we're going to have these breakout sessions in between, in between panelists. Because I don't think we're going to just have like a straight stage speaker. This ain't a motivational event. This is, this is like, what are we doing and how are we making money? And so we're going to have deal rooms, live deal rooms, probably like every, like probably every other hour. We'll have 5 people, 5 minutes, pitch deals. And, and, you know, the, uh, the VIP investors are going to be able to, to, uh, to table talk about those and say, hey, yeah, we like this. Because again, it's about the collective. It's about the collective effort behind it. And so if somebody's got a strong RV resort they want to build and they can tell that to 250 investors, like guaranteed 10 of those guys in there might have some interest in it. I'll guarantee 10 people got interest. I'm not guaranteeing they're going to invest. I'm just guaranteeing they're going to have interest. So because that's the, that's the law of tens right there. So, but yeah, that live event, we're still trying to determine if it's going to be in October or December. I'm not sure if anybody's down for doing it through the month of November. So we're still up in the air on that. I think if we flip the quarter, we could probably figure it out faster. So, all right, Kathy, you have a great afternoon. Anybody else? Anybody got questions, statements? Tina's in here. Trevor's in here. Any of you guys got stuff to throw in?

Hey, this is Tina.

No, everything sounds great.

I'm excited for the upcoming webinars.

Awesome. Yeah. Make sure you register for the next one. The Wealth Wise Women. Trevor and I are actually going to be talking about Land Shark Mastermind on Thursday. The April 30th. Um, him and I have gonna, uh, have talked about heading and heading and spearing that deal. And then, um, it's going to go back over to Catherine on May 5th, uh, myself and Roman on Thursday, May 7th, for Opportunity Zones. And then I think it's going to be a more Victoria and Catherine talking about the 7 Streams Investment Club Maybe even Trevor. I think Amor and Trevor would do better there.

Yeah.

Okay.

We can't wait. It's gonna be exciting.

Yes, indeed. So awesome. Well, if nobody else has anything else to say, I think we can wrap up our second successful webinar. I appreciate everyone's time coming in.

Thank you, guys.

Thank you. Thank you.

Take care, everyone. Appreciate you. Thank you. Bye-bye. Bye-bye.

Fun looks at the base level. Well, I think we're making— if you did have any questions, now is the best time to ask them because we're going to move into, um, what it looks like at Titan 23. Because we take— we took the basic model, okay, which was focused