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Vivos Therapeutics, Inc.
12/20/2022
Good day, everyone, and welcome to the Vivos Therapeutics second and third quarter 2022 earnings conference call. At this time, participants are in a listen-only mode. A question and answer session will follow the management's remarks. This conference call is being recorded, and a replay of today's call will be available on the Investor Relations section of Vivos' website and will remain posted there for the next 30 days. I'll now hand the call over to Julie Gannon, Vivos' Investor Relations Officer, for introductions and the reading of the Safe Harbor Statement. Please go ahead.
Thank you, operator. Hello, everyone, and welcome to Vivos Therapeutics second and third quarter 2022 earnings conference call. A copy of our earnings press release is available on the investor relations section of our website at www.vivos.com. With us on today's call are Kirk Huntsman, Vivos chairman and chief executive officer, and Brad Ammon, chief financial officer. Today, we'll review the highlights and financial results for the second and third quarters of 2022, as well as the more recent developments and vivos plans for 2023. Following these formal remarks, we will be prepared to answer your questions. I would also like to remind everyone that today's call will contain certain forward-looking statements from our management made within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934 as amended concerning future events. Words such as aim, may, could, should, projects, expects, intends, plans, believes, anticipates, hopes, estimates, and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant risks, uncertainties, and contingencies, many of which are beyond the company's control. Actual results, including without limitation, the results of VIVO's growth strategies, operational plans, including cost-saving plans and plans to generate revenue, Future potential results of operations or operating metrics and other matters to be addressed by vivos management in this conference call may differ materially and adversely from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described and other disclosures contained in vivos filings with the Security and Exchange Commission including the risk factors and other disclosures in our Form 10-K for the year ended December 31st, 2021, and our first, second, and third quarter 2022 Form 10-Qs, all of which are accessible on the Investor Relations section of the VIVOS website, as well as the SEC's website. Except to the extent required by law, VIVOS assumes no obligation to update these statements as circumstances change. Finally, please be aware that the U.S. Food and Drug Administration has given certain vivos appliances 510K clearance to treat mild to moderate OSA. Any reference herein regarding vivos treatment or the vivos method should be reviewed in that context. Treatment of patients with severe OSA are performed off-label at the sole discretion of the treating doctor and are not part of the vivos treatment protocol. Now at this time, it is my pleasure to introduce Kirk Huntsman, Chairman and CEO of vivos. Kirk, please go ahead.
Thank you, Julie. Before we begin, I want to thank you all for joining us today and for your patience as we work through the revenue recognition review that delayed the filings of our second and third quarter financial results. Given the nature of that process, We were unfortunately limited in what we were able to say publicly, which was as frustrating for us as I'm sure it was for most of you. However, we can now report that the upshot of our ASC 606 review is that our prior and current results of operations have only minimally been impacted. No revenue was lost, and we will now be recognizing revenue, particularly VIP enrollment revenue, over a slightly longer period of time. Additionally, we believe that our controls and procedures will be stronger for having gone through this process. In a moment, I'll turn the call over to our Chief Financial Officer, Brad Ammon, who will spend some time talking a bit more about this and walking you through the highlights of our financial results for the second and third quarters. After that, my goal today is to tell you about some of the exciting things that are happening at Vivos and to discuss the steps we've been taking in order to ensure our company's continuing development and most of all, to give everyone on today's call some more insight as to why we're so optimistic about our future. Then we'll be happy to take your questions. When we're finished, I hope you will all leave today's call with a better sense of why we believe Vivos is succeeding far beyond what is currently being recognized by our valuation in the capital markets, and why this company has a very bright future with the potential to lead the market for sleep apnea treatments. Now, let me turn it over to Brad to review our financials. Brad, please go ahead.
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