Daxor Corporation

Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the Doxor Corporation conference call for the corporate update and financial results for the year 2023. At this time, all participants are in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. To ask a question, select the Q&A button within the Zoom call. During this call, management will be making forward-looking statements, including statements that address DAXR's expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors described in DAXR's most recently filed annual report on Form N-CSR and subsequent periodic reports filed with the SEC and DAXR's press release that accompanies this call, particularly the cautionary statements in it. These reports are available on daxr.com. The content of this call contains time-sensitive information that is accurately only asked of today, March 25th, 2024. Except as required by law, DAXR disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call.

it is now my pleasure to turn this call over to ceo and president michael felt you thank you natalie and good afternoon everyone and welcome to the dax or annual shareholder call uh i would like to turn the floor over to our chief financial officer robert michelle for some highlights from our financial performance pop

hey thank you michael good afternoon everybody here's a summary of our fiscal 2023 financial results For the year ended December 31st, 2023, Baxor's net assets increased 17.4% to $34,010,384 or $7.08 per share as compared to $28,969,469 or $6.75 per share at December 31st, 2022. Valuation of the operating division increased $6 million to $32 million at December 31st, 2023 from $26 million at December 31st, 2022. The increase during 2023 is based on an annual independent valuation performed for the year ended December 31st, 2023, utilizing a hybrid of methods of the income approach using the discounted cashflow method and the market approach utilizing recent arms-length transactions. In 2023, 464,599 DAX or treasury shares were sold at a price of $9.75. The discounted cash flow utilized 35% of this weighting on the income approach and utilized 65% weighting on the market approach. For year end December 31st, 2023, DAXOR had net dividend income of $157,378. Net realized gains on investment of activity of $603,774. There was a decrease, a net decrease in the unrealized depreciation on investments of $885,199 as we sold long held positions during the year 2023, from which prior year's significant unrealized gains unwound into realized gains for the period. Including the net increase in net assets resulting from operations of $280,640 is a non-cash stock-based compensation expense of $631,701. In an effort to provide incentive to employees, officers, agents, and consultants to the company, we utilize stock-based incentive awards. DAXOR invested $4,552,380 in the operating division relating to our continued investments in research, development, sales, overhead, as the company continues to invest judiciously in research and development for our anticipated 2024 product launch, ramping the commercial sales teams as well as production facilities for our next generation of blood volume analyzers. That concludes my summary of the financial results, and I'd like to turn the call back to Michael. Thank you.