Monogram Technologies Inc.

Greetings and welcome to the Monogram Technologies Third Quarter 2024 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. Before we begin the formal presentation, I'd like to remind everyone that statements made in this call and webcast may include predictions, estimates, or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause action results to differ materially. Your caution to not place under-reliance in these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we're not obligated ourselves to revise or publicly the result of any reservation of these forward-looking statements, a lot of new information or future events. Throughout today's discussion, we'll attempt to present some important factors relating to our business that may affect our predictions. We may also review our most recent Form 10-K and Form 10-Q for a more complete discussion of these factors and other risks, particularly those heading risk factors. A press release detailing these results was issued on November 14, 2024, and is available in the investor relations section of our company's website, monogramtechnologies.com. Your host today, Ben Saxon, Chief Executive Officer at Noel Canopy. Chief Financial Officer will present unedited results of operations for third quarter ended September 30th, 2024. And at this time, we'll turn the call over to Chief Monogram, sorry, Monogram Chief Financial Officer Noel Canopy. Thank you.

You may begin. I'm sorry, are you on mute by accident? Can you can you hear me?

Oh, yes. Oh, I'm sorry. My phone got caught on mute once again. Can everyone hear me? Yes. OK, great. Sorry about that. Good afternoon, everyone. I'm just going to go over a brief agenda of today's presentation. I'll start off with a financial summary, and then I'll hand it over to Ben to go over upcoming milestones, a review of our regulatory strategy, and then open the floor to questions. Next slide, please. So here are some key points on our year-to-date financials. We're sitting on $16.5 million in cash. at the end of Q3, 2024. Our operating cash flow year to date is 10.9 million. That works out to be about a 1.2 million cash run rate, which is on par with what we've had in the year, and we continue that to be the same going forward. The important note for this three-month period was that we had a significant financial raise. We were able to generate 13.99 million dollars from financing activities the lion's share of that came from a very successful preferred d raise which was upside we started looking to raise 10 million and oversubscribed we ended up raising 13. uh thank you for your your involvement in that um the greater crowd was was really supportive and that puts us in a really good position going forward We continue to have the same amount of full-time employees at 27, and we have a highly variable cost structure on top of that. The 27 employees primarily, you know, around R&D and the engineering staff. The other engineers that we have are outsourced and can be, you know, turned on and off as we deem necessary. So that's very important going forward. We continue to have no traditional debt, and we have very minimal short-term warrant obligations that were related to the preferred D-rays. Those are executable in six months and for up to 12 months, so it's not a long-term obligation of any sort. Our out-of-the-U.S. clinical trial cost estimate is about $1.2 million. That's included in the run rate that we expect to go forward at $1.2 million a month. Then we'll get into that in the milestones upcoming. So all things said, we expect to have sufficient access to capital through our short-term milestones. With this raise and our current run rate, we are in a very good position to meet our obligations and in the year at a very strong balance sheet position. So we're very pleased with the activity this quarter. Next slide, please. I'll hand it over to Ben.