LogicMark, Inc.

Good day and thank you for standing by. Welcome to the Logic Mark fourth quarter and 2022 financial results and corporate update conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to turn the call over to Louie Thoma from Core IR, the company's investor relations firm.

Good afternoon, and thank you for participating in today's conference call. Joining me from LogicMark's leadership team are Shailen 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 and anticipated product launches. 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, March 28, 2023. 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 now my pleasure to turn the call over to the company's CEO, Shailen Simmons.

Thank you, Louis. Welcome, everyone. and thanks for joining us. Our fourth quarter represents a rebuilding period for the company as we focus on developing new, innovative products and investing in our sales and marketing efforts to drive sustained growth and shareholder value. During the year, we added key expertise in sales and marketing roles that will help drive these initiatives. In September, we added John Federico as Senior Product Director. In this role, John has been focusing on managing our product development efforts as we work towards launching new leading-edge products. His extensive experience in product management with various technology companies, including Audible, Dell, and Cisco, will be a significant asset as we bring new products to market. In October, Garrett Hunter joined us as Senior VP of Marketing. Garrett also has extensive experience with consumer product marketing companies with 20 years of relevant marketing experience as Senior Vice President of LifeMD VP of Growth at UMI, and co-founder of Gravity Grants and Vegamore. In December, we added Brady Farrell as VP of Sales, who has extensive sales experience at various med tech companies that will be key in helping LogicMark achieve its sales objectives. He comes to us with a background in both large companies like 3M, where he was a regional sales director, to startup medical device companies like Argonne and Monarch. These strong additions to our team highlights our commitment to building new innovative products, as well as having a strong sales team that will take these new offerings, in addition to our current best-selling products, to market. The care economy represents a significant opportunity, and we are the only public pure play company dedicated to addressing those needs. We believe that our new products and our key hires position us to capitalize on that competitive advantage. Our Q4 revenue decreased from the high levels we experienced earlier in the year as we benefited from a boost in sales as U.S. Veterans Health Administration business and customers upgraded to 4G devices. With this upgrade cycle now complete, we expect future sales to be driven by the launch of new products as well as new sales channels. We are confident that these new products will provide a competitive offering that will be well received in the market. We look forward to providing updates as we complete our product development and approach their launch. As a reminder, we launched a direct-to-consumer sales channel in July to enable customers to purchase directly from us. Revenue and AOV from this channel continues to rise while media spend remains relatively flat, helping to increase margin. With implementation of new upsell cross-sell sell flows in December, we look to continue this trend moving into the rest of 2023. Additionally, we will be further extending our direct-to-consumer sales channel with the launch of the LogicMark Amazon store, which we expect to go live by the end of next month. As we continue to invest in our sales and marketing and new product initiatives, We did so in a prudent and cost-effective way with our additional focus on minimizing our corporate expenses. One way we fortify our product development efforts is through the application for and receiving patents that will protect our position and investments made. These provisional applications include various techniques that, one, ensure the quality of wellness care systems and delivery, two, incorporates various machine learning and AI techniques, And three, focus on systems in support of wellness in multi-party interactions. Two provisional patent applications were filed in the third and fourth quarter that focus on machine learning and AI. making that a total of five provisional patents filed in 2022 for the company. In Q4, we also focus on starting to move some of those provisional patents into final filing in 2023. We expect to move two of those provisional patents into final patent filings in early 2023. We have experienced some delays in the launch of our new products that we are working through. We expect those will resolve within the next few quarters, and we are planning to bring our first software product to the market in Q2. With $7 million in cash as of December 31, 2022, and $5.2 million of gross proceeds that we raised in registered offering in January 2023, we are now well-positioned to further execute our strategy as we launch new products and establish additional sales channels. Our business plan is solid, and we believe that the coming silver tsunami driven by the growth in the elderly population and their preference to age at home will create a perfect storm for our offerings. We are confident that, as we execute, we will become a leading provider of care solutions and services in the expanding care economy. I'll now pause and ask Mark Archer to discuss our 2022 financial results, and then I'll return to provide some closing remarks.