Total current and long-term trade receivables were $9,360,000 as of June 30, 2012. As I have indicated before, we are working diligently on our sales efforts in our products and services. We are fully aware of the downward ramp of receivables and the sales – and when the sales from the Crexendo products must fully carry us. We are watching this closely and I am pleased with our progress, we are closely monitoring our sales progress and lead generation efforts. Doug will comment on this in the next few minutes.

I do want to give a brief update of our University Program. As you may recall the University Program takes the Crexendo software and uses that as the foundation to train students on a choosing classroom settings. In the curriculum, the student does a fully functioning e-commerce website for an actual business. We see two big benefits from this. First, the business will have a website that will be hosted on our platform which we will be able to service up-sell, cross-sell and use as a lead generator for our products.

We envision every website built to be a Crexendo affiliate which will supply the Company with customer leads. Secondly, we are training the next generation of business owners, both business owners that have businesses today and students that may have businesses tomorrow on our platform. We fully expect them to become Crexendo converts and to be a strong voice for our products and services. We are finishing our first test of the Crexendo University Program at one university and the initial results are very promising.

We will increase the rollout gradually over the next six quarters and we expect to have the offering in large numbers with the universities by the end of 2013. While we expect this to be a lead generation opportunity for the Company and its clients, all means not the only thing we are doing. Doug Gaylor will discuss this in more detail later.

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