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spk_0: the day and thank you for standing by welcome to the logic mark fourth quarter in two thousand and twenty two financial results in corporate update conference call at this time all participants journalist and only mode after the speakers presentation they'll be a question and answer session to ask a question during the session you'll need the press star one one on your telephone you will then you're an automated message advising your hand is raised to withdraw your question please press star one one again please be advised that at a conference is being recorded i would not like to turn the call over to louis velma from core i are the company's investorrelations from
spk_1: good afternoon and thank you for participating in today's conference call join me from logic mars leadership team are schilens them and chief executive officer and mark archer chief financial officer during this call management will be making forward looking statements including statements that dress logic marks expectations for future performance or operational results anticipated product as forward looking statements involved risks and other factors that may cause actual results to differ materially from the statements for more information about these risk we refer to the risk factors described in logic marks most recently filed annual report on form ten k and subsequent periodic reports filed with the as the see and logic marks press release that accompanies as call particularly the cautionary statements and the content of this call contains time sensitive information is accurate only as of today march twenty eight two thousand twenty three except as required by law logic mark disclaims any obligation to publicly update or revise any information turf like events or circumstances that occur after this call it is now my pleasure to turn the call over to the company ceo jilin sentence
spk_2: thank you me luck on everyone and thanks for joining us i fourth quarter represents a rebuilding sharing a company as he focused on developing more innovative products and investing in our south and liking effort to try school growth and shalt of our twentieth he added added expects from south american lot of a have tried and muscle the thumper he added john federica a thing apart after and as well some of the top of my managing a product development process as he walked towards launching new meeting of products the extent that accent the product management with no apology company including either while of the path would be a significant effect as if a new product to michael
spk_3: in october
spk_2: garrett hunter trying to ask more vp of michael get off a half and for a consumer product marketing companies a twenty years developing much of the a vice president of my the bp of cloth at your me and cofounder of savages around and be the more in december the out a bit brady foul of people of south access the celtics path of there's nothing company
spk_1: i will be key and helping much of package he the south of justice
spk_2: he tells us with the background about the large company that lamb where he was a regional sales director to sort of medical device company like are gone and monique the strong it just typing far as i can limit to building new innovative products of of having a strong cell phone and will take the new offering in addition to a farm products to market the characters enemy represents a significant opportunity and we are the only public pure a company dedicated suggesting the me he believed that our new products and have she hires position us to capitalize on that competitive advantage i choose whether need to treat on a high levels of expense billion a year has benefited from a fixed and sell of us parents have ministration business and customers upgraded to flashy devices what does up cycle are complete yet such future south to be driven by for much cheaper acts as well new sales channels we are confident that the easy part of provide a competitive offering i will be well received i'm a market you look for to providing updates as a complete a product development and approach the a lot as a reminder you launch a direct to consumer south china in july the neighbor customers to purchase directly from us lavinia and they'll be fast as channel continues to rise while media companies relatively flat up each entry much and with implementation of new art tell us how selfless in december we like to continue the trend moving into the that's the funny twenty three additionally will be further extending a direct to consumer cells channel with the launch of the largest like amazon for would you expect to go live at the end of next month as we continue to invest myself and marketing a new product initiatives he just fell in a food and and cost effective way with are just not focus on minimizing a carpet excessive one way you're forty five hundred and effort to see the application for and receiving happen that will protect opposition and investments made dispositional applications include various techniques that one ensure the quality of wallace care system until the early to incorporates various machine learning on a i technique and three focus on system in support of wellness a multiparty into action to provisional patent applications a fall than a third and fourth quarter or focus on machine learning and they are making got a total of five traditional patent thousand and twenty twenty two for the company it's you for the also focus on starting to move some of those provisional patent it is final filing and twenty twenty three expecting the two of us purpose of has a fine line of hadn't filings in philly twenty twenty we have expressed some delays in a bunch of a new products of we are watching to look at those will the topic in the next few quarters and we are planning to bring a first off of product to the markets shoot you the seven million a cash as a december thirty first i'm twenty two and five point two million a plus proceeds every based on register offering a channel twenty twenty three the now was petition for further execute a strategy as the much new products and established to snuff golf channel i business plan a salvage and we believe that the humming silver tsunami driven by the wealth and the elderly population and depression visa on a piece of public funds are often the confident that actually execute you will become a leading provider person lucian services and expanding care economy how know pause mass like archer to the such a twenty twenty two financial up and then i'll return to provide some attorney mike
spk_4: thank you shy when
spk_5: you are the financial results for the year ended december thirty first twenty twenty two revenue for the year ended december thirty first twenty twenty two was eleven point nine million up nike percent from prior year the increase in revenues resulted from increase sales to be a hospitals and clinics gross profit it was seven point two million for year ended december twenty twenty two vs five point eight million twenty twenty one an increase of twenty five percent
spk_4: gross margin increase three hundred it
spk_5: but to sixty point seven percent from fifty seven point seven percent in the per year gross profit increased as a result of higher revenues and lower in bound freight cars total operating expenses increase six percent in fiscal year twenty twenty two totaling fourteen point one million compared to thirteen point three million in fiscal twenty twenty one last year's or fiscal twenty one results included a foreigner have million charge
spk_6: for goodwill income
spk_5: net loss attributable to calm and shareholders for the year with seven point three million versus the net loss of fourteen million in fiscal twenty one and improvement six point eight million the results for the year ended december thirty first twenty twenty one included two point nine million dollars in white modification net loss to share improved from a lot of two dollars and twenty five percent to two dollars to twenty five cents per share in the fiscal year and a twenty one twenty twenty one to a net loss at seventy six cents per share in the year ended twenty twenty two
spk_7: and improvement
spk_5: of the dollars forty nine for sure
spk_8: of their improvement
spk_5: forty percent forty cents for sure was attributable to the fifty three percent increase in common shares outstanding between the two years cash balance as of december thirty first was seven million before the addition five point two million a gross proceeds raised in our january registered offering i'm not sure the call back to show
spk_2: thanks mike twenty twenty two have been a busy year as a focus on innovating solutions that enabled loved one with safely in their own homes when sharing that they're being properly monitored inappropriately careful we are launch a black or beyond excited about these opportunities and continued worked tirelessly to by leading exhibition justice a particular economy at a time i will open the car depression
spk_9: operator
spk_0: thank you as a reminder to ask a question please press star one one on your telephone and wait for your name to be announced to withdraw your question please press star one one again i first question comes from i'll agree with next them he may proceed
spk_10: good afternoon i
spk_11: can you talk a little about your do product strategy and dumb hi how you plan to what would you think that competitive advantages of products are and the go to market strategy thank you
spk_2: sure hi alan on with a cat with you so one of the thing that we're looking at is trying to bring some of the i have she capabilities and machine learning and a i ensure an ipad to collapse at a product offering as the today if you but that a majority of the technologies will receive lacking enough primarily is a couple different things first i want to talk about father protection the thought the texans today typically utilizes things such as accelerometer and gyroscope see themselves so where are we actually have the patent about adding it additional multifactor citizens to keep abilities ensure the device including the typically to have an altitude we're allow enough to be the distance between such as a out well you are to were used to that ended up at a device is i think about this is totes speed and system and so that advice such better accuracy around what his father kept know what really of the fall versus potentially you just sitting down to quickly and self adding that to the features around machine learning and a eyes is one of the ways for us to she's fine tune that father have to should really be personalized to the individual as well as giving us the capability to also take the aggregate data and be able to sort of learn more on how your sort of pattern i'm of movement and so forth compared to those were has similar age he and perhaps to the health come back around and sell for example were able to the as we should have them more gives you the ability and we start adding somebody features into the new products be of the same look on tuesdays and thursdays you know looks like you're falling be check in with you and looks like it's not a fault but it happened at ten o'clock at the scale of geographic location or looks like it's a yoga studios else on tuesdays and thursdays what seems to be as far as not a fall so eliminating some other issues related to health i'm not positive light comes to reasons why people don't actually want to wear device because devices go off all the time thinking that you fallen and it causes bit of a nuisance for lot of people who were them and south what we're really trying to do with to learn your patterns and understand basically on how best to sort of manage your experience as well as also again abigail and so the learn about that the machine learning and a eyes very crucial to that and we think that that's really something that one not thing in the market today secondarily the see the oliver new products moving sport one clued in a new sort of hardware features that make it much more modern in terms the sharing data for you to share either with us and for your caretaker she kept him a few and get a much more interactive experience we can add that you have that are learning and understanding of who you are on the health communications perspective himself you know instead of now being a we ask the technology like a lot of these products are in a marketplace were obviously watching to get you the help you need as quickly as possible who we're also trying to be react them be pro active know be a technology that is checking him on your health know on your caretakers checking on your health more actively versus just basically responding well you're having an emergency up situation as it becomes a much more comprehensive technology park how we sort of also when here is that not a lot of the technology companies are a lot of these companies are competing against injustice for categories space they don't teach and they don't have to make the on technology the to them off the shelf which is great on that you know we are technology from a in our own technologies does that mean building a on the ai go at them were building our own user experience that is what just a few at any is eric yeah your elderly month one so that that user francis much more positive less than lethal aging i'm as well as a user experience that he is conducive to a mall take your paper environment that are not as in a family of three or four the night the found that year for the next door neighbor and a professional circuit right because just lot of one nation that involved and so the really se on trying to bring a comprehensive technology suite to the market for soon as i'm basically hey we're monitor stop this company the i'm years yeah independent father at on that we didn't build that we're gonna make offerings to you and more connect i sort of call services you aren't instead offering the products that have the same user experience across the board that it i'll have to be burned out the of the have a really wonderful should have caretaker on experience as well because we know that ethical of this sort of product of it's not just about people who are wearing the devices but it's also the people who care about them the sandwich generation who also wanted to make sure that their family members are safe and are coordinating at and so we go into this as with on spoke about and was taken over the company was the idea of having a he passes i'm a current or former the service offering a really comprehensive of keep ability to choose the cure economy vs he does to the things that you pull together randomly from defense as offering me a pie
spk_12: i hope that's helpful
spk_11: yeah i'm curious where done when you've done your market research where wouldn't stop people who live in the market the by what what are they say it's the most important things about you think you've address for
spk_2: yeah some of the most important thing is that you know is and you'd have to take a look at customers it's a two different rest some groups on first of the end user right the people who actually wearing the devices so they wanna device that is i'm you know much better about getting rid of pop positive way they don't want to wear device are constantly go asked us forces them to turn off the caption because of you want to catch in this puppy right and so it's going off at a time and it makes them feel very conspicuous when the random of walking and they might have slowed down and a trigger something so that's really what always the first concern to people that these false positive happens quite frequently secondarily is that these devices the bleeding buck the way they feel make people feel all than they don't want wear it and so that they don't feel like they are the people who need these types of cook devices which is just unsightly right and so they care about not feeling like you're sticking out and making them feel like their elderly even though they need a little support right and so redesigning from these as
spk_13: that the that the look like
spk_2: it's a celebrity type of technology that you and i and all of us carry with in our lives make it easier for this to be adopted by those who need it the most and if you look at the people who are actually the caretakers the sandwich generation the one in for millennials and a half agenda answers we always talk about the damn it's about how do i offer something that is comprehensive style you know my parents and yeah i can manage them without feeling like an overwhelming them like the brothers the that means that the we give them the capability to the understand that the parents are safe without feelings on that they're in shooting and so we do that by basically you know not turning on certain features that me theme intrusive and so we need it right or far incident occurs a button is pressed arms to that it's not like there's a camera can donning a home constantly so that yeah you have be thrown out looking at you because that's one thing that i think both the caretakers in the love ones to not want to have secondarily is that they're constantly coordinating care is that yell caretaking to be a very lonely process and it's the one that's a very compact and so how did they coordinate care of with a professional caretakers they're at a state almost useless sharing this responsibility amount of family members and next door neighbors that becomes extremely and well be an experience and so they're very interested in having a system that allows them to be able to afford a nice affectively hum been that she and other therapies for both parties is the idea of i'm having a security and safety them when they may not go bike right and i call that the triple protection which is generally speaking after those people were using the product they want to know that if they needed somebody is there and so now is how much is i'm a loved one elderly loved one maybe some type of my son isn't in a meeting and he has his own turned off and so if i have an emergency i cannot reach i'm on but now what is the have the capability to say luck if i cannot reach my son who is typically my hero ticker then i that i'm gonna be the cat because that's you know my device will bump into my let's put this was the caretaker and the that the can be reached me in i think that with when you first have a monitor service records directly to my mom one i call it the triple protection right to they want to know that there's a comprehensive capability to know to be covered and not only does that make the end user comfortable but it also makes secure cheaper such a badass in the off chance that there are enough that phone down our the on a meeting that their their loved one or the parents always taken care of those are the things that matter the most to yeah that's what we sort of both out and other going out
spk_11: thank you very strange on how do you think about on the persuaded to we're what your marketing strategy sales and marketing would be around for this year
spk_2: yeah that's a really good question and so we are concerned you to be continued to be bullish on it of going into the fetus the market of course i'm assuming that the cost is not overwhelming i'm and mainly because happy to see is so crucial people wanna know who's taking care of their loved one and so to they need to have that have a direct experience without seeing it you know that we have excellent customer service and only be the next experience added a half a direct relationship without enough in a few hours to rest until i you know amazing customer support staff and to the web experience on something at the west african experience the that is the that feel a the key and will be doing you know what we would say is nuts too pleased to the where we need to reach our audience and mean the reality of that december's people who are you know buying these products and the people we really are mostly needs of each is obsolete the people for caretakers that they're the ones you doing research for their peers it has probably like a lot of parents they don't think that they need is my says but right now as the children is the the genetic there isn't a millennials were doing that research initially and cells for trying to find them where they are there are clustered around caring for out our loved ones and much faith but with and they are us to the wound to the scene of this fashion areas and all the different ways that people are looking to connect with other people with similar concerns as so we are really trying to reach out to them and those channels specifically for be the see when it comes to basically in a achieve we continue to be got really considered well that path to the bright side of with the as weasel out on a monitor services to be going directly into the system as municipalities are did mention their as good as the hiring of our dps the else he has been extremely of as in hiring some of the best our people as seen in the marketplace and i'm very excited that not only other amazing am sales team on some of them are that rings and they are you not understand the needs of our customers are on the and know both sort of on a cell side his mouth and user sites out there aggressively going or be the chief prince by the thing every clinic there thousand i'm out there are that we still need to talk you i'm as well as actually starting that initial foray into discussion on a be the beside with distributors and people who i am you know operators of in home you know networks black hair as well as retirement community because the gods among our services that we're gonna be falling out you really tight you the physical products and having the monitor services heights you the in home care facilities and partners so i'm we've actually done in the show on go out and i'm showing up and to the initial thought if some of these else and we're getting extremely get feedback matches from our government partners but as well as a other be the be unmasked immersive law potential customers this not
spk_11: that's great thank you so much
spk_0: thank you in this concludes week you in a session i know like to turn the call back over to schilens ready for the are marked
spk_2: i want to thank all of you who participate in a call today i look forward to continuing to provide updates and our father at appropriate times thank you so much
spk_0: fig you recruits recruited a conference call figure for participating he may now disconnect the in
spk_1: a day and thank you for standing by welcome to the logic mark fourth quarter in two thousand and twenty two financial results in corporate update conference call at this time all participants analyst and only mode after the speakers presentation they'll be a question and answer session to ask a question during the session you'll need the press our one one on your telephone you will then you're an automated message advising your hand raised to withdraw your question please press star one one again please be advised that today's conference is being recorded i would not like the during the call over to louis thelma from core i are the company's investorrelations from good afternoon and thank you for participating in today's conference call join me from logic mars leadership team or schilens them as chief executive officer and mark archer chief financial officer during this call management will be making forward looking statements including statements that dress logic marks expectations for each performance or operational results anticipated product much as forward looking statements involved risks and other factors that may cause actual results to differ materially from the statements for more information about these arrests please refer to the risk factors described in logic marks most recently filed an hour port on form ten k and subsequent periodic reports filed with the fcc and logic marks press release that accompanies as call particularly the cautionary statements and the content of this call contains time sensitive information those accurate only as of today march twenty eight two thousand and twenty three
spk_2: except as required by law logic or disclaims any obligation to publicly update or revise any information turf wide events or circumstances that occur after this call it is now my pleasure to turn the call over to the company ceo jilin sentence thank you and me luck on that one and thanks for joining us my fourth quarter represent rebuilding sharing a company as he focused on developing more innovative products and investing in a thousand michael high school grounds and shalt of our kind of yeah yeah to keep switching from south american lot of a have trap and on the civil
spk_3: in september we added john federica athena thing apart doctor and a small jonathan focusing on my managing a product development process as you but was launching you meeting not products
spk_2: he looks at it from a product management with no apology company including either wow of the south will be a significant effect of if a new product michael
spk_14: in october
spk_2: yeah hunter trying to have more deeply of my michael get off a hockey fan my product marketing companies a twenty years of it might have any plans athena vice president of my sunday bp of well as your me and cofounder of savages and and become why in december without a bit brady foul of people of south with extensive celtics fan of there's nothing i will be key in helping much of method he the south africa's because just with a passion about large companies that vm but he was a regional sales director to start of medical device companies like or than a monarch the strong a doesn't typing and products our commitment to building new innovative products of love having a strong sales time and will take these new offering in addition to atlanta farm products to market the killer colony represents a significant opportunity and we aren't the only public pure fake company to church from the me he believed that our new products and he hires position us to capitalize on that competitive advantage i choose for that any to treat on a high levels of expense billion a year as we benefited from a feast and sale of us parents have ministration business and customers upgraded to flashy devices what does up cycle are complete yet such future spouse to be driven by better much of parks at last new sales channels we are confident that is if i swap provide a competitive offering that will be well received and a market you look for to providing updates as a complete a product development and approached the a lot as a reminder you launch a direct to consumer south channel in july for neighbor customers to purchase directly from us lavinia and they'll be for his channel continues to rise while media that remains relatively flat up each entry margin the implementation of new art thou hast thou southwest in december we looked to continue the trend moving into the that's the funny twenty three additionally will be further extending that director console myself channel with a lot of the largest like amazon for which looks set to go live by the end of next month as we continue to invest myself and marketing a new product nationals he just so in a freedoms and cost effective way with i just not focus on minimizing a that excessive one way if fortify a product of an effort to see the application for and receiving happen our public opposition and investments made these positional applications include various techniques that one ensure the quality of lawless care system until the early que incorporates various machine learning a i technique and three focus on systems in support of wellness and multiparty into action to provisional patent applications or thousand a third and fourth quarter a focus on machine learning and they are make you got a total of five traditional patents thousand twenty thousand each year for the company and you for the also focused on starting to miss some of those provisional patent it is final filing and twenty twenty three expecting the two of the purpose of has is a fine fine of hadn't filings in philly twenty twenty three we have expressed some delays in a bunch of a new products of you're watching to which but those will resolve within the next few quarters and we are planning to bring a first off of product to the market shoot you the seven million in cash as a december thirty first i'm twenty pew and five point two million of was proceeds every raised and register offering a jan twenty twenty three your now wants petition for further execute our strategy as the much new products and established it's just not the health channel
spk_4: our business plan a solid and we believe that the humming silver tsunami driven by the glow in the elderly population and depression these are on a creative poetics storm for often the confident that as we execute you will become a leading provider of course solution and services and expanding care economy
spk_5: how know pause mass like archer to the such a twenty twenty two financial up and then i'll return to provide some urgent remarks thank you shy when you are the financial results for the year ended december thirty first twenty twenty two revenue for the year ended december thirty first twenty twenty two was eleven point nine million op nike percent from prior year the increase in revenues resulted from increase sales to be a hospitals and clinics
spk_4: gross profit it was seven point two million for the year ended december twenty twenty two vs five point eight million twenty twenty one
spk_5: an increase of twenty five percent gross margin increase three hundred bit but to sixty point seven percent from fifty seven point seven percent in the per year gross profit increased as a result of higher revenues and lower in bound freight cars total operating expenses
spk_15: increase six percent
spk_5: in fiscal year twenty twenty two totaling fourteen point one million compared to thirteen point three million in fiscal twenty twenty one last years fiscal twenty one results included a to have million charge for goodwill income net loss attributable to calm and shareholders for the year with seven point three million versus a net loss of fourteen million in fiscal twenty one and improvement of six point eight million the results for the year ended december thirty first twenty twenty one included two point nine million dollars in white modification
spk_7: net loss to share improved from a lot of two dollars and twenty five percent to two dollars and twenty five cents per share
spk_5: in the fiscal year and twenty one twenty twenty one to a net loss of seventy six cents per share in the year ended twenty twenty two an improvement
spk_4: or the dollar forty nine pressure
spk_5: of their improvement forty percent forty cents pusher was attributable to the fifty three percent increase in common shares outstanding between the two years
spk_2: cash balance as of december thirty first was seven million before the addition of five point two million a gross proceeds raised in our january registered offering i'm not from the call back to shower thanks mike
spk_0: twenty twenty two have been a busy year have you focus i can eating solutions that name of that one that they flee in their own homes when showing that are being properly monitored inappropriately careful we are watch a black or beyond excited about these opportunities and continued worked tirelessly to was eating establishments that justice a particular economy
spk_10: at the time i will open the caught a passion of later
spk_11: thank you as a reminder to ask a question please press star one one on your telephone and way for your name to be announced to withdraw your question please press star one one again
spk_2: i first question comes from i'll clean with next them he may proceed good afternoon i can you talk a little about your do product strategy and on hi how you plan to what would you think that competitive advantages of products are and go to market strategy thank you sure hi alan on with a cat with you though one of the thing that we're looking at is trying to bring some of that i have she capabilities and machine learning and a i ensure an ipad to collapse at a product offering as the today if you but that a majority of the technologies will receive lacking enough primarily is a couple different things first i want to talk about father caption the thought the texans today typically utilizes things such as accelerometer and gyroscope a speed ticket so where are we actually have the patent about adding additional multifactor citizenship capabilities ensure or by including the of the have an altitude we're allow enough to be the distance between said as a out while you are you were used to that ended up at a device is i think about this is totes speed and system and so that advice of such better accuracy of about what his father kept know what really of the fall versus potentially you just sitting down to quickly and south adding that to the features around machine learning and a lie is one of the way fast as she finds you that forbids have to choose really be personalized to the individual as well as giving up the capability to also take the aggregate data and be able to sort of learn more on how your sort of pattern of movement and so forth compared to those were has similar age yeah perhaps to the health come back around and sell for example way but here's the as we should have learn more get you the ability and we start adding somebody features into the new products be of the same with on tuesdays and thursdays you know looks like you're falling be checking with you and looks like it's not a far but it happened at ten o'clock at the scale of geographic location or looks like a for yoga studio search on tuesdays and thursdays what seems to be as far as not a false so eliminating some other issues related to help i'm not positive when it comes to reasons why people don't actually want to wear device because he devices got all the time thinking that you fallen and it causes a bit of a nuisance for lot of people who were them and sell while they're really trying to do with combine your patterns and understand basically on how best to sort of manage your experience as well as also again abrogate and so the learn about that the machine learning and a it's very crucial to that and we think that that's really something that one nothing thing in the market today secondarily the see the oliver new products meanings for one clued in a new sort of hardware features that make it much more modern insurance the sharing data for you the shirt either with us and so your caretaker she kept him a few and get a much more interactive experience we can add that you a better understanding and understanding of who you are on the help communities after themselves you know instead of now being a we as the technology but a lot of the new products are in the marketplace were obviously watching to get you the helping you need as quickly as possible we're also trying to be react and be pro active know be a technology that is checking him on your health know on your caretakers checking on your health more actively versus just basically responding or you have an enema he he up situation as it becomes a much more comprehensive technology park how we should have also when here is that know a lot of the technology companies are at a lot of these companies are competing against the for categories space they don't teach and they don't have to make on technology defensive to them off the shelf which is break on that you know we are technology from a dozen our own technologies does that mean of adopting a on the i'll go at them were building our own user experience that is mocking just a few a is during your your elderly must one so that that use expenses much more positive was unbeaten aging i'm as well as a user experience that he is conducive to a mall take your paper environment but another in a family of three or four over the night the found this year for the next door neighbor and a professional circuit way because just lot of one nation as bath and so the really focused on trying to bring a comprehensive technology suite to the market for soon as i'm basically hey we're monitor stop this company yeah i'm here
spk_12: yeah enough in a product of that we didn't build that we're gonna make offerings to you and more connect i sort of call services you aren't instead offering the products that have the same user experience across the board that it i'll have to be burned out the of the have a really wonderful should have caretaker of experience as well because we know that ethic
spk_11: end of this sort of product of it's not just about people who are wearing the devices but it's also the people who care about them the sandwich generation who also wanted to make sure that their family members are safe and are coordinating at her and so we go into this as it on spoke about and for taken over the company was the idea of having a see past the the carried out on the service the offering a really comprehensive of keep ability to the cure a colony first is he does to the things that you pull together randomly from different such as offering now pie i hope that's helpful
spk_2: yeah i'm curious where dumb when you've done your market research where wouldn't stop with people who are in the market the by what what what are they say is the most important things about it to think you've addressed that yeah some of the most important thing that you know is and you'd have to take a look at customers it's a to defense rests on groups on first of the end user right the people who actually wearing the devices so they wanna device that is i'm you know much better about getting better pop
spk_13: ah that's right you don't want to wear device are constantly go past us forces them to turn off the caption because of you want to catch in this puppy
spk_2: right and so it's going off at a time and it makes them feel very conspicuous when job and i'm a walking and they might a down and a trigger something so that's really what always the first concern to people that these false positive happens quite frequently secondarily is that these devices the bleeding buck the way they feel make people feel or than they don't want to wear it and sell that they don't feel like they are the people who need these types of cook devices which is just unsightly right and so they care about not feeling like you're sticking out and making them feel like their elderly even though they need a little support right and so redesigning these assets of the the look like it's a celebrity type of technology that you and i and all of us carry with than our lives make it easier for the to be adopted by those who need it the most and if you look at the people who are actually the caretakers the sandwich generation the one in for millennials and a half agenda answers we always talk about the damn it's about how do i offer something that is comprehensive so you know my parents are yeah i can manage them without feeling like an overwhelming them like the brothers the that means that the we get them the capabilities to the understand that the parents are safe without feeling on that they're in shooting and so we do that by basically you know not turning on certain features that may seem intrusive and so we need it right or far incident occurs a button is pressed on so that it's not like there's a camera can donning a home constantly so that young be happy brother looking at you because that's one thing that i think both the caretakers in the loved ones to not going to have have them dearly is that they're constantly coordinating care is that yell caretaking to be a very lonely process and it's offer one that's a very compact and so how did they coordinate care of with a professional caretakers they're at his state onto useless sharing this responsibility amount of family members and next door neighbors that becomes extremely and be an experience and so they're very interested in having a system that allows them to be able to sort of nice effectively i'm been that she and other therapies for both parties is the idea of having a security and safety them when they may not go like right and i call that the trip protection which is generally speaking after those people were using the product they want to know that if they needed somebody is there and so now is how much is i'm a loved one elderly loved one maybe some type of my son isn't in a meeting and he has his own turned off and so have i have an emergency i cannot reach i'm on button now what if the having the capability to say luck if i cannot reach my son who is typically my hero ticker then i know that i'm going to be the because that's you know my device will bump into my let's put this was the caretaker and if that person can be reached my in i think that with when you first have a monitor service records directly to my my
spk_11: one i call it the triple protection price to they want to know that there's a comprehensive keep ability to know to be covered and not only does that make the any are comfortable but it also makes secure cheaper such a badass in the off chance that there are enough that phone down are doing a meeting that their their loved one or the parents always taken care of the due to the things that matter the most
spk_16: to them now that's what these sort of pulled out and other way out
spk_2: thank you very strange on how do you think about on the persuaded to what your marketing strategy sales and marketing would be fine for this year yeah that's a really great question and so we are continue to be continued to be bullish on instead of going into the fetus to market of course i'm assuming that the cost is not overwhelming arm and mainly because happy to see experience is so crucial people wanna know who's taking care of their loved one and so do they need to have that have a direct experience without thing if you know that we have excellent customer service and only way you can experience added a half a direct relationship without enough in a few hours to rest empty little are you know amazing customer support staff and to know what experience on something at the west africa experience with the as the dark fuel a the key and will be doing you know what we would say is nuts pleased to the where we need to reach our audience i mean the reality of this is our most people who are you know buying these products the people we really have mostly needs of each is obsolete the people for caretakers that they're the ones you doing research for their parents it has probably like a lot of parents they don't think that they need is my says but right now as the children it's the the genetic there isn't a money elsewhere doing that research initially and self for kind of find them where they are there are clustered around caring for out or loved one than what feet a good and they are after the rounds to the of discussed scenarios and all the different ways that people are looking to connect with other people with similar concerns as so we are really trying to reach out to them in those channels specifically for be the see when it comes to basically in a achieve we continue to be gop will be considered for that path the bright side of with the as weasel out on a monitor services to be going directly into the system as municipalities are viewed mention their as good as the hiring of our vps the else he has been extremely a classes in hiring some of the best our people as seen in the marketplace and i'm very excited that not only are they are amazing sales team on some of them are that runs and they are the understand the needs of our customers i'm on the and know both sort of a cell side his mouth and user sites out there aggressively going or be the chief footprints by the thing every clinic thousand i'm out there are that we still need to talk to arm as well
spk_11: actually starting that initial foray into discussion on a be the beast i with distributors and people who are
spk_0: ido operators of in home you know networks black hair as well as retirement communities because the guns some of our services that we're gonna be falling out here really tides you the physical products and having the monitor services heights you the in home care facilities and partners
spk_2: so i'm we've actually done in the show on go out and i'm showing up and to the initial thought if some of these helps and we're getting extremely get feedback not just from our government on partners but as well as and other be the be unmasked immersive law potential customers is lot
spk_0: that's great thank you so much
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