Greetings, everyone. And welcome to the PetVivo Holdings First Quarter of Fiscal 2023 Financial Results Conference Call. I am John Dolan, the Chief Business Development Officer and General Counsel at PetVivo. 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 PetVivo executives may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to risks 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 and 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 provides 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 turn the conference over to John Lai, the CEO and President of PetVivo. Please go ahead, John.

Thank you, John, and welcome. Joining me today is Robert Folkes, our Chief Financial Officer. I would like to start by discussing some highlights from the last quarter, after which Bob Folkes will provide a more detailed overview of our financial results and condition. I will then share additional insights into our business strategy and key focus areas for fiscal 2023 before we open the floor to questions. For the first quarter of fiscal 2023, we entered into an exclusive distribution and sales agreement with MWI, a subsidiary of AmerisourceBergen, which is a leading distributor of animal health products. We now have accounts in 37 states, which gives us a solid coverage in the market. I would like to turn the call over to Robert Folkes, our Chief Financial Officer, to discuss the recently completed registered offering and our financial condition.

Thank you, John, and good afternoon, everyone. As of June 30, 2022, the company had $4.4 million in cash and working capital of $3.8 million. We increased our inventory to $181,000 to support our expected revenue growth in fiscal 2023. As John noted, our investment in sales and marketing is yielding results as we open new accounts. We are also utilizing the net proceeds from our initial public offering to enhance our sales and marketing efforts and conduct clinical studies to promote PetVivo and boost our revenues from Spryng. I will now hand the call back to John.

Thank you, Bob. I would like to talk more about our business strategy and key focus areas for fiscal 2023. We talked about generating clinical evidence to support the equine and small animals market, and this is more of marketing studies and not regulatory requirement. We're also going to be hiring additional sales territorial managers to support our relationship with the MWI, and we're exhibiting at multiple conferences for both small animal and equine and creating awareness for Spryng. And we also have multiple influencers from the veterinary space that will be speaking at some of these major conventions. Now, I would like to open it up for questions. Operator, can you please take over and explain the process?

There is already someone with their hand raised. I'm going to allow them to talk. You should be able to speak now. It's the email, gzplumtree@gmail.

Hello. Gary, I believe that's you. Operator, maybe we should go to another one and then come back to that one.

Okay. It looks like you're unmuted, so let us know if you can talk. And then I don't see any other hands raised at this time.

We'll give him a few more seconds because there's no one else then.

He's unmuted.

Yeah, it looks like he’s unmuted. So Lily, you want to repeat the process for people calling in, just in case?

We have one more question from the caller whose number ends in 3123. You can now speak.

Hello. John, can you hear me?

Yes, I can.

Great. Gary Zwetchkenbaum calling in. It is my understanding that there are several important clinical studies that are in progress. Can you give us an update on when these studies will be completed, and when the data might be made available to us?

Yes. Pretty much all along, we have said these studies would be the catalyst for speeding up adoption of the smaller animal vets as well as the equine vets. I will turn this to John Dolan, who is our General Counsel and Development person. He has been working with various partners on the studies. John, can you take it over?

I can confirm that clinical studies and data initiatives are a major focus for our company, and we take this very seriously. We have several studies already underway or scheduled over the next 12 to 18 months. This will be an ongoing commitment not only for our customers but also for our distributors. Currently, we have two studies in progress. The first is with Colorado State University, led by esteemed veterinarian Felix Duerr. This study aims to evaluate the intra-articular injection of our product in the elbows of animals with osteoarthritis. We hope to complete this study by Q4 of 2023, as we are keen to assess the product's duration. We expect to release the results to the public in Q1 of 2024. The second study is being conducted by Ethos, a well-regarded institution affiliated with the National Veterinary Association, with Chand Khanna as the primary investigator. This study is focused on testing intra-articular injections of Spryng in dogs with stifle disease. We anticipate its completion in Q3 of 2022, with the first phase expected to finish this year and data and reports available before the year's end. We aim for publication by Q1 of next year.

And those are calendar dates, not our fiscal dates?

Correct. That is correct, John.

Any other questions, operator?

No other hands raised at this time.

Okay. Then I would conclude the call. Thank you, operator, and thanks everyone for interest in PetVivo. We remain focused on getting Spryng into the market as we can help dogs and horses with osteoarthritis. We also continue to work to develop other great products included in our OA product for felines. Again, thank you for joining us on this call today. Thank you.