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 2024. 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, press the Q&A button within this call. During this call, management will be making forward-looking statements, including statements that address DocSource 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 DOCSOR's most recently filed annual report on Form N-CSR and subsequent periodic reports filed with the SEC and DOCSOR's press release that accompanies this call, particularly the cautionary statements in it. The content on this call contains time-sensitive information that is accurately only as of today, March 6, 2025. Except as required by law, Daxor 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 the call over to CEO, Michael Feldschuh.

Thank you very much, Natalie. Good afternoon to everyone on the call. Welcome to the Daxor 2025 Shareholder Update Call. We welcome all of our shareholders and guests. This call will be a chance for us to update everyone on our significant progress in 2024 and momentum going into 2025. I will be introducing Bob Mischel, our chief financial officer. Following his remarks, Dr. John Jeffries, our chief medical officer, will give his update on the company's progress. And I will conclude with some remarks of my own, speaking to some of the questions we receive in advance of this meeting. That concludes my opening remarks. Now I'd like to turn the call over to Bob, our CFO, who will review our financial results at the Daxor corporate level in more detail. Bob.

Thank you, Michael. Good afternoon, everyone. And here is a summary of our 2024 financial results. As of December 31st, 2024, Daxor's net assets were $36,789,893, or $7.25 per share. as compared to $34,010,384, or $7.08 per share, at December 31, 2023. The increase in the net asset value is primarily due to the continued appreciation in value of the operating division. The year ended December 31, 2024. Vaxor had net dividend income of $104,115, and net realized gains on investment security activity of $1,359,163. There was a net decrease in the unrealized appreciation on investments of $1,148,350 as we sold positions during 2024 that had prior periods significant unrealized gains unwound into the gains it realized in 2024. Included in the net asset The net increase in net assets resulting from operations of $553,926 is a non-cash stock-based compensation expense of $1,245,583. In an effort to provide incentive to employees, officers, agents, and consultants, the company utilizes equity awards through either stock option or stock awards. There was a net investment in the operating division of $1,614,124 to continue its research and development, sales and overhead for our projected 2025 product launch, and ramping the commercial sales team, as well as production facilities for our next generation of flood volume analyzers, and bringing in-house the production of our Volumix product, which is projected to be completed by the end of 2025. That concludes my summary of the financial results. Now I'd like to turn the call over to Dr. John Jeffries, our Chief Medical Officer, who will provide clinical updates.