In the first quarter we completed the delivery of the remaining finished lots in Phase 2C and closed on the initial plat payment with a new homebuilder partner in Phase 2D. Our national homebuilder partners have already begun construction in Phase 2C. We expect to complete Phase 2D in fiscal 2026. Pure Cycle continues to diversify our land development segment by partnering with two new national homebuilders in Phase 2D to bring our portfolio of homebuilders to seven national builders. Finally, we have start ...