TRxADE HEALTH, Inc.

Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to TRAXAID Group's first quarter 2021 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. The earnings press release accompanying this conference call was issued at the close of market today. The quarterly report, which includes the company's results for operation for the quarter ending March 31st, 2021, was filed with the SEC today. On our call today is TrackSafe Group's founder, Chairman and Chief Executive Officer, Surin Ajaraku, and Howard Doss, its Chief Financial 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'd like to turn the call over to Howard Doss, the company's Chief Financial Officer. Howard, the floor is yours.

Thank you, Operator, and thank you for joining us today. I'd like to welcome you to our first quarter 2021 financial results conference call. Our press release announcing our first quarter financial results was issued after the close of market today and is posted on our website. We have furnished such press release to the SEC on Form 8K. Statements made on this call and webcast, including 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 operations or the performance of the company, including the potential 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. 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 quarterly report on Form 10-Q 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 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 a substitute for or in isolation from GAAP results. You can find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP 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 2020. At this time, I'd like to turn the call over to Suren Adjarpu, the company's chief executive officer. Suren, the floor is yours.

Thank you, Howard. 2020 was a breakthrough year for our Burgoyne Health Services IT company. as we continue to innovate, grow, and expand our platform company, and that growth continued into the first quarter of 2021. We saw 39% year-over-year growth in the first quarter of 2021, despite the ongoing challenges caused by the COVID-19 pandemic. I'm extremely proud of our team for their tireless efforts to drive forward our business, positioning us for a success in the near term. In addition, Our exciting suite of affiliated services, from our comprehensive telehealth solution to digital health passports, enabling a safe reopening with an attractive paper scan business model, continue to broaden our reach as a company, empowering independent pharmacies with technology to make them indispensable local health hubs. Before we do a more detailed walkthrough of financial and operational results for the quarter, For those of you new to this 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, the prescription journey, and patient engagement. Prior to the launch of PaxAid, 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. or what others are paying for the same drug. Traditional wholesalers would provide unfavorable payment terms, slow delivery, and create a difficult conundrum for approximately 21,000 independent pharmacies nationwide. We identified this opportunity, as well as incredible potential in these independent pharmacies, which together maintain around $73.7 billion in annual purchasing power, proceeded to launch TraxAid. We design, own, and operate a business-to-business web-based market platform, bringing together the nation's independent pharmacies with an 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 from competing suppliers and a fair payment terms, and often with next-day delivery service. We believe this radical price transparency, economy of scale, and competition among the suppliers leads up to a 10% reduction in a pharmacy's total annual drug purchase cost, 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 are fulfilling a prescription at a loss. Our revenue model is simple. We are paid an administrative fee of 6% of the buying price on a generic pharmaceutical and up to 1% on brand pharmaceuticals that pass through our pharmaceutical platform, similar to PayPal or Visa-like models. Today, we've seen incredible success in garnering attention from independent pharmacies worldwide, validating our business model. We currently have around 12,100 plus registered members on our platform, with 223 new registered members added in Q1. We have leveraged our significant success since the launch of the aforementioned Marketplace platform to move into adjacent complementary business where we can leverage our strong retail pharmacy network and core competency in technology. These include Bonham Health, our telehealth subsidiary, as well as the mail order pharmacy and Rx computer, which acts as an enabling infrastructure for Bonham Health's business-to-business platform. We have been anything but idle in 2021 and have been pounding the pavement to broaden the reach of our Bonham Health partnerships, signing strategic partnerships with the brand name nationwide stores such as Kenny Drugs, Proact, Brookshire Grocery Company, Spartan Nash, and most recently, Big Y Foods to build a truly national platform. Approximately 500 plus stores offer Bonham Health services to thousands of users in all 50 states and we expect continued growth in the quarters to come as we ramp up strategic partnerships and anticipate an increasing number of employers turning to our turnkey telehealth solution. We continue to integrate exciting new solutions into the Bonham Health offering, including a direct-to-patient prescription drug coupon platform through our partnership with SingleCare. The capability to stream patient lab results directly into the bottom health, virtual electronic medical records, and remote patient monitoring. These product enhancements paired with our digital marketing strategies, which we are ramping up, provide us with accelerated access into new key markets alongside our enterprise retail partners. I'm particularly pleased to announce our new subsidiary MedCheck, the next important step in our parent company branding of leading IT health services companies. Medchex will offer detailed health information solutions, starting with the Health Passport app that's being launched as a peace of mind solution to safely and securely reopen the global economy. To head up Medchex, we brought onboard technology expert James Ram. There is no one better suited than James as he has leadership experience in the travel, tourism, national security, and location-based entertainment industry. Under his leadership, the MedChex Digital Health Passport will leverage both state-of-the-art encryption and blockchain technology to conceal all private health data, allowing the secure exchange of information between passport holder and verifier. We are evaluating initial rollout locations domestically and internationally with a pay-per-use model. I think you all will agree that Medchex would be a significant revenue driver in 2021. As we continue to scale exciting new affiliated services such as our telehealth platform or our recently announced digital health passport initiative, we anticipate continued top-line growth in the coming years. On the capital market front, we were proactive throughout the first quarter of 2021, attending four investor conferences, the HC Wainwright Global LifeSense Conference, the Roth Growth Conference, Maxim Group Emerging Growth Conference, and the Planet Micro Cap Showcase, all with the goal of enhancing broader investor awareness of our company. I'd like to now turn the call over to our Chief Financial Officer, Howard Dawes to walk through some key financial highlights from the first quarter of 2021. Howard Dawes Thank you, Suren.