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spk03: Hello, everyone, and welcome to the Pet Vivo Holdings second quarter 2022 financial results conference call. My name is John Dolan, and I'm the Chief Business Development Officer and General Counsel at Pet Vivo. Today's call is being webcast and will be posted on the company's website for playback. Before we begin, I would like to remind everyone that comments made during this conference call by Betvio's executives may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to risk and uncertainties. Any statement that refers to expectations, projections, or other characterizations of future events, including financial projections or future market conditions, is a forward-looking statement. PB, David Ensign – pet vivos actual future results could differ materially from those expressed in such forward looking statements for any reason, including those listed in its SEC filings pet vivo assumes no obligation to obtain update any such forward looking statements. Pet Vivo filed its 10Q and earnings release with the SEC today, which provided detailed discussion of our financial results. Both of these documents can be found in the SEC website and the investor relations section of our website. Now, I would like to turn the conference over to John Lai, the CEO and president of Pet Vivo. John, please go ahead.
spk01: Thank you, John. And welcome to our first conference call as a NASDAQ company. Joining me today will be Bob Foulkes as our Chief Financial Officer. I would like to begin by discussing some of the highlights of last quarter and Bob Foulkes will discuss the financial results and financial conditions in greater detail. I will conclude by sharing additional thoughts on our business strategy and key focus areas for the second half of fiscal 2022 before we open the lineup for questions. Our key highlights last quarter were we raised 11.25 million approximately in a registered public offering of units, which we closed on August 13th of 2021, uplisted to NASDAQ in connection with the registered offering. And we trade under the symbol, the common stock trades under the symbol PETV and the warrants trade under the symbol PETVW. We also made a decision to rebrand our key product name for treating osteoarthritis from Cush to Spring and commence sales using the Spring name and branding. Made several key hires to strengthen our management team. These were very important pieces to get us into the position of manufacturing and sales. So one of our key hires with Randy Meyer became the Chief Operating Officer from a manufacturing standpoint. John Dolan, VP of Business Development and Corporate Counsel. Mark Middleton, National Director of Sales. He has 35 years of veterinary sales experience. His last company, Animal Health International, they I think hit 800 million a year in revenues. in terms of veterinary devices. Russ Sickle, our director of marketing, comes from Pfizer Animal Health, which was later Zoetis, and also Birmingham Ingerheim, BI, second largest veterinary products company in the world. And he has a strong, over 30 years of experience in marketing of veterinary products. Dr. Ann Zieser, she is our senior vet for companion animals, small animals. Once again, over 30 years of practice experience and dealing with dogs and cats and other small animals. And then we recently hired Dr. Joe Manning as a senior vet in the equine space. He brings over 35 years of experience in dealing with equine products from a pharmaceutical to a biotech area. He was with Merck Animal Health. as a senior vet there, Josh Wilhelm, Director of Manufacturing. He's dealt with our particles for many years and was at several very large medical device manufacturing where they had to deal with similar particles and products in syringe fulfillment and delivering a product. So he brings a very good team with him. We have hired four additional production people to work under Josh's direction. I would now like to turn over to Bob Foulkes, our Chief Financial Officer, who will discuss our recently completed register offering and financial conditions. Bob.
spk02: Thank you, John, and good afternoon, everyone. The most significant event from last quarter was raising approximately $9.8 million in net proceeds from our registered offering. In addition, one of our directors converted $196,000 in debt into equity at the closing of the offering. We used approximately $100,000 of the proceeds to repay certain corporate debt and payables. So as of September 30th, we ended the quarter with over $8.8 million in cash. We are using the net proceeds from this offering to expand our sales and marketing efforts to gain vet acceptance and generate revenue from the sale of Spring. John has already commented on the team we added during the quarter. And we also engage KIC as our advertising agency across multiple marketing services disciplines. And again, John also touched on our manufacturing team. So we added key members to the team to ensure our production capacity to support our launch of spring. So now I will turn it back to the call to John.
spk01: Thank you, Bob. So I like to talk more about the future, the strategy and the key focus areas for the second half of 2022. Um, Let's talk about Kik. Kik was instrumental in helping us determine that we needed to change the name from Kush to Sprink because too many people associated with cannabis products. Now that we have changed the Sprink, we're getting good adoption. We're getting good feedback. And that with Kik helping us launch into multiple trade shows, we have, I believe, about 19 trade shows that we're looking to schedule to attend. because that was one of our key focuses with the raise of this capital was to spend it on sales and marketing. We're still on path to hire multiple salespeople under Mark with, you know, these salespeople will have extensive sales experience. We're looking anywhere from six to eight over the next 12 months. We got trade shows pretty much every month of the year going forward. And these shows initially will be focused more on equine. But the major show in Orlando is the VMX, which is the largest show of the year. And that would be the second week of January. So we'll have a full staff of small animal as well as equine salespeople and management team down there to help. spread the word on the product because there's an educational process that's going on. We're gonna also be looking at expanding sales channels through partnerships, doing additional studies beyond the Colorado State Study for both equine and canine. And we also started launching commercials about a week ago to the consumers on CNN, MSNBC, Fox, Fox Business, as well as Newsmax. So we're also gonna start the bulletin board or the boards at the subways in the New York train stations. Basically, we have 15 second commercials running on those on those boards so that we believe all these strategies will help drive the consumer as a call to action to contact the vets. And we have multiple strategies that the salespeople and marketing will be targeting certain vets at the various trade shows and doing white papers as well as doing the various podium presentations. So with that, I will, let the operator open it up to Q&A.
spk03: All right, everyone. For questions, if you have a question for either Mr. Lai or Mr. Foulkes, please raise your hand. Please raise your hand. I'll let you in. I'll let you in, allow you to talk, and then I will allow the speaker to end up answering your question. Does anyone have any questions? Sea Choir host, I am not seeing any of the hands come up as of yet. Do you see anything? Can I ask for your assistance?
spk00: Sure. I'm not seeing anybody who raised their hand either. It looks like nobody has any questions.
spk03: Perfect. Anyone? Does anyone have any questions? If no questions, I'd like to thank everyone. At this time, I'll turn it back to Mr. Lai for any closing remarks.
spk01: Well, I'm surprised we don't have any questions. But with that being said, I think the numbers were pretty much within the realm that we had indicated as we were doing the roadshows on the offering. And with that, I'm going to call to a conclusion of this shareholders conference call unless Somebody raises their hand in the next 10 seconds. Well, John Dolan, I'm going to turn it back to you to call to the end of the conference call.
spk03: All right, everyone. Thank you so much for listening in on the conference call. Again, our information is all on this particular website. If you'd like to rehear this webcast, the login that you ended up logging into, is the login that you can end up re-hearing what Mr. Folks and Mr. Lai stated today. So if there's nothing else, thank you again for joining into our call. Thanks again. Bye, everyone.
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