LogicMark, Inc.

Hello, good day. Thank you for standing by and welcome to the LogicMark first quarter financial results and corporate update conference call. At this time, all participants are in listen-only mode. After the speaker presentation, there will be a question and answer session. Now, to ask a question during this time, you will need to press star 1 on your telephone keypad. And also, please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, Mr. Louis Thoma. Thank you. Please go ahead, sir.

Good afternoon, and thank you for participating in today's conference call. Joining me from LogicMark's leadership team are Charlene Simmons, Chief Executive Officer, and Mark Archer, Chief Financial Officer. During this call, management will be making forward-looking statements, including statements that address LogicMark'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 LogicMark's most recently filed annual report on Form 10-K and subsequent periodic reports filed with the SEC and LogicMark's press release that accompanies this call, particularly the cautionary statements in it. The content of this call contains time-sensitive information that is accurate only as of today, May 12, 2022. Except as required by law, LogicMark disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. It is my pleasure to turn the call over to the company's CEO, Sharlyn Simmons.

Thank you, Lily. Welcome, everyone, and thanks for joining us. As our previous call was intended to close the books on 2021, today we gather to discuss opening a new chapter for our company. We started the year on a strong note with revenues growing 50% and margins expanding as we saw strong growth in our U.S. Veterans Health Administration business, highlighting our solid relationship with this partner. As we discussed on our last call, last year we received approval as a GSA vendor, an agency of the U.S. government, and we have taken the opportunity to leverage our existing government business to increase sales. This includes federal, state, and local agencies. These increased sales demonstrate our already stellar reputation with the VA, and we anticipate continuing to grow our government business as we introduce new products and further expand our team. We've also seen our sales positively impacted from the sunsetting of 3G cellular service by the nation's large cellular network providers, with our customers upgrading to our 4G Guardian Alert 911 Plus device. We will continue to communicate to our current 3G device customers to help them transition over through the various programs I mentioned a month ago, including direct mailings, additional customer support, continued media outreach, and of course, direct to veteran education programs, which include a 3G sunsetting resource center, FAQs, and an instructional video on how to check current LogicMark devices. Building on our momentum from this past quarter, we plan to launch an updated website with an e-commerce platform in Q2 to open up direct-to-consumer sales. We are also looking forward to launching new at-home and on-the-go products and solutions, while expanding upon our intellectual property portfolio. Specifically, we expect an additional provisional patent by the end of the second quarter. In addition, we expect to add monitor services to our offerings, which will enable us to implement a recurring revenue element to our business model. Despite these advances, we continue to face the supply chain challenges that are endemic to the entirety of the tech sector. Continued spikes in COVID cases and a war in Ukraine bring with them expected disruptions as well. We continue to believe the logic mark is nimble enough to deal with most of the stresses on our supply chain and, of course, corrected with little interruption. However, We do expect these factors to have an impact on the price of products in our market, as well as the cost of doing business. We will always endeavor to offer solutions at varying price points, however, to meet the needs of our customers. Before we move to our financial results, When I accepted the role of CEO, I also set out to recognize our ESG responsibilities and create the highest standard for both social and shareholder endeavors. We have structured our ESG efforts around three main themes, financial policy reviews and audits, in which we will continue to dedicate our resources to ensure we remediate the issues that had contributed to our potential delisting from the NASDAQ stock market last year, and then towards ongoing adherence to NASDAQ's governance guidelines. Diversity and equity. We're making products that address the neediest and most vulnerable as an example of how our social and shareholder responsibility goals align. This includes offering different price points for our products so that it meets the needs of persons in varying social economic situations. We have also begun looking at company diversity and inclusion practices and examined labor standards across our supplier base. And finally, Operational efficiencies, where building a sustainable enterprise is a priority for the company. As a result, we have closed offices to streamline operations. We have begun reducing paper waste throughout the company and are working towards a goal of decreasing the amount of marketing material and printed materials included with each device by 50%. We also have begun to conduct an energy and resources evaluation to determine if increased efficiencies are possible, including the expansion and improvement of domestic and international supply chain channels and a CO2 offset program are all under review to ensure we meet customer demand and that suppliers adhere to NASDAQ's recommended code of conduct. For today, our take-home message is one of optimism and looking towards the future to continue the momentum we believe we have initiated in the first quarter. We look forward to communicating with you as we continue to progress. I'll now pause and ask Mark Archer to discuss our first quarter financial results, and then I'll return to provide some closing remarks.