TRxADE HEALTH, Inc.

Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to Trixaid Health's fourth quarter and annual 2021 earnings conference call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be opened for questions. The earnings press release accompanying this conference call was issued at the close of the market today. The annual report, which includes additional information regarding the company's results of operations for the year ended December 31st, 2021, was filed with the SEC earlier today. On our call today is Trixade Health's founder, chairman, and chief executive officer, Shurin Adjarapu, 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's 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 fourth quarter and annual 2021 Financial Results Conference Call. Our press release announcing our 2021 fourth quarter and annual financial results was issued after the close of market today and is posted on our website. We have also furnished such press release to the SEC on Form 8K. Finally, we have 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 8K. 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 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 and the subsequently filed quarterly reports on Form 10-Q. for information and 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-AIDS 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, at the end of our earnings press release. Unless otherwise stated, all financial comparisons in this call will be to our results for the comparable period of fiscal 2020. During the question and answer portion of today's call, please limit yourself to no more than one question and one follow-up. At this time, I'd like to turn the call over to Surin Ajarapu, the company's Chief Executive Officer. Surin, the floor is yours.

Thank you, Howard. We saw a margin improvement as our revenue base returned to the core track-safe pharmaceutical exchange platform in the year-end 2021, seeing an expected drop-off in the one-time personal protective equipment sales recognized in 2020, which were driven by the initial onset of the COVID-19 pandemic. Our nationwide footprint continues to grow, and we have relentlessly focused on exciting new ways to expand proportional wallet share within our large, growing network of registered users while better enabling them to service their prospective customers, the end users, further growing their loyalty to their local retail pharmacies. Before we do a more detailed walkthrough of our financial and operational results for the year 2021 fourth quarter and the year end December 31, 2021, for those of you who are 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 TraxAid, Obtaining drug courts 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 the opportunities approximately 57,900 independent pharmacies and targeted medical clinics nationwide. We identified this market inefficiency as well as the incredible potential in these independent pharmacies and clinics, which together maintain an estimated approximately $67.1 billion in annual purchasing power and proceeded to launch TraxSafe. 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 on a fair payment terms and often the next day delivery. We believe this radical price transparency, economy of scale, and competition among our 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 pharmacies from having to manually compare prices across the 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 a paid an administrative fee of up to 6% of the buying price on a generic pharmaceutical, and up to 1% on branded drugs that pass through our pharmaceutical platform, similar to a PayPal or Visa-like model. To date, we have seen incredible success in garnering attention from independent pharmacies and clinics nationwide, validating our business model. At the end of 2021, we had over 13,100-plus registered members on our platform, with approximately 175 new registered members added in the fourth quarter alone. In February 2022, the company announced the formation with an Exchange Health LLC of a joint venture, SauceRx LLC, a pharmaceutical platform. SauceRx will provide pharmaceutical manufacturers a single platform to optimize the sale and distribution of their inventory directly to large pharmaceutical buyers across multiple classes of trade. SauceRx opens the market to short-dated, overstocked, and slow-moving pharmaceuticals that will otherwise be subjected to destruction. Traxate anticipates growth in this joint venture in 2022 as more progressive manufacturers are expected to address the public need for enhanced medication accessibility and reliable supply of cost-effective pharmaceuticals. We have leveraged our significant success since the launch of the aforementioned marketplace platform to move into an adjacent complementary business where we can leverage our strong retail pharmacy network and core competency in technology. These include Bonham Health, our telehealth subsidiary, which for the year ended 2021 had approximately 22,000 application downloads with an approximately 10.9% patient registration rate. However, many of our relationships are still in the rollout phase and have yet to generate significant revenues. On the capital market front, we were proactive in 2021, attending four premier investor conferences, the Collier Fifth Annual Investor Conference, H.E. Wainwright 23rd Annual Global Investment Conference, and Benjagi Healthcare Conference, and finally the LD Micro Main Event. This week at the Maximum Virtual Growth Conference, I'll be presenting on the panel Technology Improving Healthcare, which will be held on March 30th at 1.30 p.m. Eastern Daylight Time. We attended conference 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 Doss, to walk through some key financial highlights from the fourth quarter of 2021 and the fully year-ended December 2021. Thank you, Saran.