Petvivo Holdings Inc

Greetings and welcome to the Pet Vivo Holdings third quarter of fiscal year 2023 financial results conference call. My name is John Dolan, 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 Pet Vivo'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. PetVivo's actual future results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in its SEC filings. PetVivo assumes no obligation to update any such forward-looking statements. PetVivo filed its earnings release and Form 10-Q with the SEC today, which provide a detailed discussion of our financial results. These documents can be found in the SEC website and the investor relations section of our website. I would like to now turn the call over to John Lai, the CEO and president of Pet Vivo. Please go ahead, John.

Thank you, John, and welcome. Also joining me today will be Bob Fulks, our chief financial officer. I would like to begin by discussing some highlights from last quarter. Then Bob will discuss our financial results in greater detail. I will conclude by sharing some Additional thoughts on our business strategy, key focus areas for fiscal 2023 before we open the lineup for questions. Our key highlights for the third quarter of fiscal 2023 were we reported revenues of 510,000 as compared to 51,000 in the third quarter of fiscal 2022. Revenues for the third quarter included net revenues of 457,000 from shipments of spring to MWI Animal Health, subsidiary of Merisaurus Bergen. They are exclusive distribution partner, which we signed June 2022. We continue to expand our national presence highlighted by our attendance at the American Association of Equine Practitioners annual conference in November of 2022, which Dr. Manning, our senior technical veterinarian, did a theater presentation, actually two theater presentations, where we did get very good response and we opened accounts in over 47 states. We are starting to see the results of the investments we have made in expanding the awareness and efficacy and benefits of spring with companion animals. I would like to now turn the call over to Bob Foulkes, our Chief Financial Officer, who will discuss our financial results.

Thank you, John. And good afternoon, everyone. For the three months ended December 31st, 2022, we reported revenues of $510,000. as compared to $51,000 in the prior year. And as John noted, this increase was driven by revenues of $457,000 related to shipments of spring to MWI. For the nine months ended December 31st, 2022, we reported revenues of $792,000 as compared to $60,000 in the prior year period. This increase was driven by revenues of $575,000 related to shipments of spring to MWI. At December 31, 2022, the company had $375,000 in cash and working capital of $171,000. In January of 2023, we raised approximately $1.4 million. after deducting transaction expenses from the sale of just over 610,000 shares of our common stock in a registered direct offering at a price of $2.32 per share. We also entered into a lease agreement for approximately 14,000 square feet of production and warehouse space. This new facility will include multiple clean rooms for large-scale production of spring, as well as other medical devices and therapeutics in our product pipeline. We plan to move all of our production to this facility beginning in August of 2023. And just to conclude here, we continue to invest our resources to expand our sales and marketing efforts, clinical studies, and manufacturing capacity to gain vet acceptance and support increased revenues from the sale of spring. So now I will turn the call back over to John.