TRxADE HEALTH, Inc.

Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to TRAXAID Group's fourth quarter and fiscal year 2020 earnings conference call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be open for questions. This conference is being recorded today, March 29, 2021, and the earnings press release accompanying this conference call was issued at the close of market today. The annual report, which is included the company's results of operations for the fiscal year ended December 31, 2020, was filed with the SEC today. On our call today is TrackSafe Group's founder, Chairman and Chief Executive Officer, Surin Azharapu, and Howard Doss, its Financial Chief Officer. The replay of this call and webcast will be available for the next 30 days on the company's website under the NASDAQ Meds link. The company website also includes more supporting industry information. At this time, I would like to turn the call over to Mr. Howard Doss, the company's chief financial officer. Howard, the floor is yours. Thank you. You may begin.

Thank you, operator, and thank you for joining us today. I would like to welcome you to our fourth quarter and full year 2020 financial results conference call. Our press release announcing our fourth quarter and full year financial results was issued after the close of market today and is posted on our website. We have also published a copy of the presentation that accompanies this call and webcast on our website and furnished such press release and presentation to the SEC on Form 8-K. Statements made on this call and webcast include forward-looking statements These statements include but are not limited to our outlook for the company and statements that estimate or project future results of the operations or the performance of the company, including the potential continued impact of COVID-19 on the company's business and results of operations. These statements speak only as of the date hereof, and the company assumes no obligation to revise any forward-looking statements that may be made in today's press release. call or webcast, except as required by law. These statements do not guarantee future performance and are subject to risks, uncertainties and assumptions. Please refer to the press release and the risk factors and documents we file with the Securities and Exchange Commission, including our most recent annual report on Form 10-K for information on risks, uncertainties and assumptions that may cause actual results to differ materially from those set forth in such statements. In addition, during today's call and webcast, we will discuss both GAAP financial measures and certain non-GAAP financial measures, which we believe are useful as supplemental measures of TRAX-H performance. These non-GAAP measures should be considered in addition to and not as a substitute for or in isolation from GAAP results. You can find additional disclosures regarding these non-GAAP measures in including reconciliations with comparable gap results in our earnings press release. Unless otherwise stated, all financial comparisons in this call will be our results for the comparable period of fiscal 2019. At this time, I would like to turn the call over to Suren Ajarpu, the company's chief executive officer. Suren, the floor is yours.

Thank you, Howard. 2020 was a milestone year for our Health Service Society company. as we continue to innovate, grow, and expand. Despite the challenges of global pandemic, we increased revenues by 130% for the year, a testament to our team's continued innovation and the development of our breakthrough digital healthcare services IT platform. Before we do a more detailed walkthrough of financial and operational results for the fourth quarter and 2020 year, For those of you new to the company, I'd like to walk you through who we are, how we are digitalizing the retail pharmacy experience through the optimization of drug procurement, prescription journey, and patient engagement. Prior to the launch of TrachFig, obtaining drug codes as an independent pharmacy was an extremely laborious and time inefficient process with no insight or transparency into a fair market price of what others are paying for the same drug. Traditional wholesalers would provide unfavorable payment terms, slow delivery would create a difficult conundrum for the approximately 21,000 independent pharmacies nationwide. We identified this market inefficiency as well as the incredible potential in these independent pharmacies, which together maintain approximately 73.7 billion in annual purchasing power and proceeded to launch TractSafe. We designed to own and operate a business-to-business, web-based marketplace platform, bringing together the nation's independent pharmacies with accredited national pharmaceutical suppliers to provide a uniquely efficient and transparent buying and selling process. Our platform lets independent pharmacies know that they are receiving a fair price for competing suppliers on a fair payment terms and often with next day delivery. We believe this radical price transparency, economy of scale, and competition among its suppliers leads up to a 10% reduction in a pharmacy's total annual drug purchase cost with a drug level savings of up to 90% on certain pharmaceutical products. Our platform saves pharmacists from having to manually compare prices across distributors, saving hundreds of hours of unnecessary labor annually and eliminating negative reimbursement or fulfilling a prescription at a loss. Our revenue model is simple. We're paid an administrative fee of up to 6% of the buying price on the generic pharmaceuticals and up to 1% on brand pharmaceuticals that pass through our pharmaceutical platform, similar to like PayPal or Visa-like models. To date, we have seen incredible success in garnering attention from independent pharmacies nationwide, validating our business model. We currently have approximately 11,800 plus registered members on our platform, representing over 50% market penetration into the 21,000 independent pharmacies nationwide. We have leveraged our significant success since the launch of FOMH in Marketplace, to move into adjacent complementary business where we can leverage our strong retail pharmacy network and core competencies in technology. These include our bottom health, our telehealth subsidy, as well as mail-order pharmacy and Rx distribution, which act as an enabling infrastructure for our bottom health business-to-business, business-to-consumer platforms, as well as the future business lines we currently have in development. I'm particularly pleased to announce the recent launch of our new subsidiary MedChex, which is a developing digital health passport to help facilitate the safe reopening of the global economy. To lead this new initiative, we brought in James Rand, an accomplished strategist with leadership experience in travel, tourism, and location-based entertainment industries. Under his lead, the digital health app or passport we plan to launch will leverage both state-of-the-art encryption and blockchain technology to conceal all the private health data of users, allowing for the secure exchange of data between a passport holder and a verifier. We're evaluating initial rollout locations internationally, and given the paper use model, believe this could be a significant revenue potential in 2021. During the fourth quarter of 2020, we've made progress with our track seed drug procurement marketplace, adding 328 new registered members for a year in total of approximately 11,800 plus registered members. As we continue to scale exciting new affiliated services, such as our telehealth platform and our digital health passport initiatives, we anticipate continued top-line growth in the coming years. Bonham Health, our telehealth subsidiary, made significant strides in the fourth quarter to propel adoption nationwide more rapidly. We found an exciting partnership with KPH Healthcare Services, bringing affordable healthcare to the patients of approximately 100 Kenney Drug Retail Pharmacies on the East Coast, as well as more than 2 million Rx Discount Card members of Kenney's sister company, Proact, Inc., a fully integrated pharmacy benefits manager. TaxShare has multiple subsidiaries that are well-positioned within the business-to-business, business-to-consumer space to synergistically help realize our vision and work to bridge the gaps in the health care. TractFair will focus on three main deliverables. The first is drug procurement optimization so that we can help reduce the cost of medication further. This expands our current offering to include primary vendor contracts and better use of cost-minimizing algorithms with the goals of prompting pharmacists to significantly increase their spend on our marketplace. Secondly, digitalization of patient health services as it relates to prescription journey optimization. Customers via our app are expected to be more involved, better informed on their medication, resulting in enhanced medication adherence. We intend to create a smart prescription, much like we created a smarter drug supply chain. This would allow customers to get the right medication at the right time at a reduced cost, something the industry has been struggling to solve effectively. Thirdly, key to consumer care is engagement and the ability to also offer customers convenient access to providers at all times. Our eHealth Passport app will house vaccination certificates, and we believe our telehealth and pharmacy services program will make us a one-stop solution for consumers looking to simplify their healthcare needs. On the capital market front, We were proactive throughout the fourth quarter, attending two investor conferences, the Virtual Investor Summit and the Diamond Equity Research Emerging Growth Invitational, all with the goal of enhancing broader investor awareness of our company. To simplify, we intend to bring the doctor and pharmacy into a customer's home for their non-urgent care inexpensively and instantaneously, an almost end-to-end solution the industry desperately lacks. Also, COVID-19 has made 2020 a challenging year for many, both on a personal and business level. We were lucky in 2020 that the pandemic had only limited effect on our operations, causing minimal delays in our supply chain, but otherwise not materially negatively affecting any of our operating results, a pattern we currently see continuing into 2021. I'd like to now turn the call over to our Chief Financial Officer, Howard Doss, to walk through some key financial highlights from the fourth quarter of 2020.