MLSS - Earnings call transcript Q4 2020 | Milestone Scientific Inc.

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Operator

Greetings. Welcome to Milestone Scientific’s end of year annual conference call. [Operator Instructions] Please note, this conference is being recorded. I would now like to turn the conference over to your host, Natalya Rudman with Crescendo Communications. Thank you.

begin. may You

Natalya Rudman

and joining Devon Call. And you thank Thank Scientific’s good XXXX for Milestone Conference Year-End everyone, you, afternoon. Financial Results

company’s On posted company President containing results, today Executive the and April Joseph website. CEO us X, Osser, Financial Dental; on press call Chief Officer. which release Chief Interim Thursday, The of are Wand financial Officer; a Milestone is XXXX of Leonard Haverhals, the year-end D’Agostino, also Scientific issued and Arjan with today,

any Crescendo have call management would XXX-XXX-XXXX. you for remarks the If questions the year results or operational prepared company’s the like XXXX. after about reviewing ended information company, The and XX, the will provide any Communications additional now please financial contact at December

uncertainties like during a statements impact financial plan, its started, everyone decisions, to business future make accurately, expected remind of future beyond may we revenues of risks get and implement to respect this judgments are These call, or Milestone’s statements we future competitive and control. impossible which and regarding involve involving assumptions timing that forward-looking and many difficult conditions Milestone’s and predict business number ability to market of economic, Before with which we’d all and on the conference based are are of and to success.

update in revenue the without to Exchange detailed from and expected including pressures, indicated from Some year forward-looking Milestone’s rulings, time no FDA factors to X, of based and today’s XX, call achieve out the Milestone call Milestone’s undertakes adverse or customer belief Please ended reason. standards limitation legal we report publicly the important With These management’s that made Interim changes statements statements turn revise for changes conditions, to and this ahead, factors in go obligation upon the XXXX. patent actual Form to Chief of with Commission, date, risk Officer. statements over Securities operating filings for XXXX. Osser, way, any results April by the periodic expenses, are the those during now forward-looking requirements December failure competitive general reasonable developments, that the of and differ Len any or XX-K on materially in time market Len. could as to cause forward-looking will are Executive our economic growth,

Leonard Osser

despite Natalya. for joining $X you, us I to Thank quarter the our quarter this achieved that for for or impact navigating third XXXX of result of a approximately on indicates sequentially we of that thanks everyone to pleased quarter. XX% am revenue today. COVID-XX, We and XXXX. the by this the increased trajectory And which versus report growth fourth successfully million the pandemic remain are

loss declining CathCheck continue reducing vendors, have year. infections Epidural for COVID-XX certain net we manage hospitals efforts With made expenses, regions operating the our instrument in system. over to our the CompuFlo commercial year to around advancing and outside we past our progress several and Importantly, the carefully the reopening

South Texas an become of institution reinforces centers: premier system increased to and Galveston, prospects and and CompuFlo to Specifically, CathCheck North in the health systems medical in other at three Europe of the European in Most health and German Center, of state across Texas South University in delivery. first proposition Texas; Regional CathCheck our of regional standard to with received hospital centers and one hospitals these care notably, care in epidural business the Medical CompuFlo Hospital University of the we confidence we from our hospital, the the in orders value medical Carolina; selling premier XXXX, recognized the of added Medical disposables we both further nationally the of new the and three of Wurzburg. The Branch America coming agency a are system several new the the and purchasing the Medical of U.S. labor Carolina; of University began procedures that have Epidural University strive disposables for months. leading purchase care three and outlook as months

CathCheck disposables these in launch XXXX, Bitmedical enter Swiss within purchasing in hospitals, Austria. Europe. distribute the XXX,XXX we their we Switzerland the system an October a Austrian CompuFlo AG of and X,XXX the step expanding Epidural well Additionally, group At to into the epidural as we given and markets CathCheck an with agreement as important medical same approximately sales instrument a U.S. with Penetrating In awarded leading were our with hospitals now CompuFlo the agreement to commercial sizable and forward both system force. related are is network. sales and organization our Premier, CompuFlo and providers for purchasing group time, other in

enter the new journals, driving hospitals of our of number Now market place of also The commenced better have validation aids are awareness published that are medical we new trials pilot technology. leading in protocols and to in at in which results our able clinical a further have hospitals, programs. been and

two transform CompuFlo validated system replacement following procedure versus to the the epidural is by placement monitoring of and Epidural Similarly, in using the XX the CathCheck technology within the terms catheter XX efficacy has conventional Importantly, minutes potential an minutes of a safety, of economics. confirming to catheter methods.

real-time quantifiable success. control build sensing provides and an computer technique pressure confidence objective unique Our and to technology anesthesiologists

which XXXX technology of reasons, standard we is our further present will anesthesia, new syringe. labor that these care become For of the in encouraged hypodermic standard delivery the the and are care, replacing

notices our the Trademark allowance allowance patent the U.S. two delivery are systems, from received drug injection evolving Office Patent we for and of notice recently the Office. and key European of a we Patent consistently and As from

provides instrument which clinical relates disposables, microchip disposable benefits disposable patent and interactions security the embedded the safety in and the covers practitioner. The assembly of and component the CompuFlo to unique feature of for first Milestone’s and the the verification patient

manual integrates technology. still to manual relates a to suffice, number which opens where placement, for syringe may up our for the an our System, and markets verify the ability exciting The new which providing efficient CompuPulse subsequent alternative of with a technology low-cost This CompuWave and catheter while second a applications and syringe. needle technology provides new procedures new patent

revenue. a in key of our phase on the commencing successful our Epidural to disposable CompuFlo summary, will helping thus the The reduce direction of large industry convert procedures, high This have risk positive, been the and and the of orders. that the third a response contribute both technology strategy components of of needle during needle that patent in PNB In focuses from Office additional optimize block believe regional to to across has margins our a intensity hospitals Pressure the the we the European rollout monitoring, Patent nerve Sensing the element and first Overall, peripheral of system opportunity recurring from and potential country DPS, in is combines stimulation given Milestone’s are and pressure physicians we minimum commercial the is instrument injection Dynamic location have commercial procedures. injury to sales which to real-time to tip ultrasound-guided been nerve instrument, market CompuFlo we few of trials utilizing associated anesthesia.

around engaged the than is are enhance to point, in At soon. Wand and describe I’d go U.S. Milestone instrument Our sales and this Arjan of Chief of more to hiring the hospitals actively sales our Arjan. Wand the forward the like robust to turn look activities marketing sales premier Executive additional the over Haverhals, finalizing time, President more call Officer to Please professionals this rollout in detail. we agreements we several to At ever, pipeline and in Dental, ahead, with

Arjan Haverhals

Leonard. you, Thank

result for has Our and the sales dental marketing illustrates well positive country offices reopening dental business demand around progress world. believe recover of and our as as as initiatives the dental begun instrument. response and the growing our successful market rapid to We a across

We implementing expand our to strategy dental have worldwide the market. begun global three-year

strategy. adding new decentralized reflects successfully partners, which our are We global and domestic sales distribution

to less distributors further that we strategy with markets grow distributor large of number this decentralized non-exclusive efforts, key the marketing include and across In to is and seven to their targeting expanded distributor of of our network our a in of and highly drive pandemic, to than our have increase expansion exclusive disposables. Specifically, U.S. the working independent with to network the seven month, marketing networks. increase forward have instrument our distribution relationships combination existing educate further coverage platform practices. the benefits staff dental our a in cost-effective coming to new we from distributors. increased The of U.S. for placement Canada importantly, Wand in plan dental the we can and and goal establishing in We dental during independent coming our instrument the scalable – closely we or are a in look developed new our safe does the patients distributors plus significant a dental business We a in territories our sales Canada. believe these and sales have are with years. we believe important covering dental dental the We to of of our terms the and professionals changing and distributors a on additions environment sole These within supporting instrument, the dental respective our with growth as expanding help years. STA

our accomplished important of decentralized goal the robust through we in covering new territories our building mentioned, a Canada key network the I in strategy. market As and U.S. distribution sales

distributors. call are CFO, in over accelerating our to go turn We markets to D’Agostino, ahead, global point, go to supporting this Please new into financials efforts the over like our I’d present our Joseph. detail. the while Joseph now At

Joseph D’Agostino

approximately the million was was XXXX million approximately for profit $X.X or million was decreased the XXXX. ended which of $X.XX XXXX. period of or $X.X approximately Thank ended the revenue XXXX, XX, $X the million for comparable for XX Dental pandemic December $X.X $X.X was last for related XX, loss approximately business XX, the XX, year other versus December the year. impact the XX% partners. December was XXXX. ended XXXX. the per for XX, for XX,XXX XX% XX, ended year loss a versus versus ended million by XX,XXX December approximately December versus months year COVID-XX same the Total $X.X of $X.X was to million $X.XX customers and you, on revenue share ended ended the XXXX or the XX, December Operating loss December revenue XXXX, for versus XXXX, Medical year the of ended Gross $X.X share year revenue per the million million December year period revenue for net in Net XX, company’s for $X.X year for Arjan. or million,

our million. turn and company equivalents capital to and capital Now look of approximately December had XX, and current the cash liquidity At attention return million, XXXX, and total the At working I $XX.X of million to to $XX.X approximately $XX.X the point, would like Osser. like this I’d to back Leonard take a resources. assets cash call of

Leonard Osser

the for marketing we Thank Wand as on instrument, includes outlook penetration supporting the instrument, We sales is remain the efficiency, our and the we our believe of decentralized which our drivers Through significant and dental this of safety, will by efforts business around growth to you, practices. the the value increase new Joseph. importantly, enhanced market our recover. focus encouraged as business starting strategy dental

standard industry Epidural, and market the remain In will care. in ultimately we of CompuFlo believe of potential the addition, which confident the transform the become we

Importantly, are as with in position we including in we to the a that will building medical Epidural we hospitals cash U.S. we our in strong million and of convert a and have to are trials Overall, Europe. December of XXXX. cash, over centers a financial new pipeline, short-term Moreover, investments equivalents and advanced XX, underway we begun number selling commercial believe other $XX sales CompuFlo orders.

dental should with addition, recent proceeds strengthens improved million This and of exercise flow the our medical cash balance $X and liquidity, of an from our marketing accelerate cash activities help our the our In since instruments. both combined plus sheet around sales additional XXXX. with warrants November

to strength we to addition, the both development our in the updates the the this dental runway our new I’d the thank open At a risk believe commercialization and product you technology broad driving balance as of of mitigate as with Devon? We company to further to quite provides now indications multiple In further call We from of for to unfold. like to substantial development our product developments medical remain IP believe questions. would forward like and point, sheet large the platform. accelerate well related platform are our available in and underserved and Once call look committed today. the providing is sector. COVID-XX markets. help profound as we for shareholder opportunities to other increase again, positioned us this to portfolio value institute we joining

Operator

time At question-and-answer of line session. Instructions] Please the will from we question. with be this a Maxim. comes [Operator proceed with Our your conducting Anthony question first Vendetti

Anthony Vendetti

the Thank how – – you. talk, many what you I could you’re of many then And last? sales about if little will how targeting? do many bit are you pilot just wondering they territories them think or targeting was how reps, Len, you a long programs, how the

Leonard Osser

the are out when a studies, one, by significant politically, that I’d couple like asked expanding where I’ll where asked – is So economically, you? first, like that that’s in two hiring that Well, But prior successful that to, the the else of clinical else The turn case. we off now number first things hospitals. to United if that any sales until salesperson the States, number generally is and we our decided it? over at which abundance. And not conservative hiring to two generally say we them an force. But I’d is salespeople of for say the two things are Right. hospitals, we’re have doctors going approaches which nature, to why are we all is, to are in Arjan. being were by Who first, least held using be first

case, that the now is we that, now hiring. are Given

So I’ll over to turn it Arjan.

Arjan Haverhals

Yes. Thank you. Yes.

work course, In of addition in we are always the what to starts. that’s moment you hospital, and Leonard alluded say, a in to, what also the a way where

within team is those of their purchase that we penetrations to in task the increase received the further also hospital. part sales So orders hospitals the have from,

given. that’s So one

have penetration a number is of and when important. inside the increasing So you hospitals very

addition In we or have salespersons, current salespeople. to four – have four we the now around

we are dependent that And on completely of terms expansion. or go in number saying, looking hospitals number what just – let’s okay, We’re mean hospitals and of those epidural of not It’s in territory the number we potential are in that procedures. the looking territory. of

over not because team. the We to Dallas, to too are would to the So sales of draw to entire we country. all going number country. spread the parallel of we as – minimum, expand for also out line first need thin down then to we with will on Houston that people in to focused spread I and out current Chicago And that the the the coming the remain say sales always add, double anticipate a we the on The like successes avoid we would East we team. the want over us we manage from We size year, further would commercial organization.

Anthony Vendetti

close in hospital-by-hospital are basis? Okay. almost Great. you a is terms it to hospitals, really to And access just then the full now? Or access on of

Arjan Haverhals

trend the but very that several mix, things place. a is are are taking still It’s No. encouraging. There

than you from the they in March, that year said at or were taking when active That for we you us can in the the hear is or example, more get to of active will premises actually prior allow back ago pandemic, a place. the we to hospitals within when wait, become let’s For hospital. and you first,

and were we year the discussing further at where team meetings. and see to process what and value hospitals are so the ago, committee now we back getting assessment that’s with we a of value-added into of that with say, number So a value-added table,

that’s So happening. one

we in Northeast, one news particular also we reopening equipment so follow or the and in area, to England their budgets. defreeze, that say, hospitals they, I would when lot where Massachusetts, also are particular, a capital I received what again, New of the see is, Secondly, in thaw say,

half year, are speak. that in So as building well. in is they in been now we the demos trials course, the we And we were since of frozen that further of the doing number still and of number second have up as the last hospitals pandemic, and are hospitals as active a we lifted of performing

we and that, that’s of then a important for with a orders confirmation which course, in hospital the consumables because to choose addition or hospitals us, have the purchase that also is, in going, us, the reordering we getting we has already So with see placed that business uptake – have. placed to of the of that very an model

Anthony Vendetti

Sure. Sure.

going has the because facilitate So with to move we last that been any COVID, the question, just GPO on through the the time? as beneficial to XXXX? in do be GPO And have if GPOs. place, not, of you is relationship relationship hospitals meetings the during of to believe this you that able start Has

Arjan Haverhals

And to that extent. the evidence I Absolutely. is think No. already there,

October for of Premier, organization, said As we when able it’s last I was an in agreement hospitals us. us from were first one with to reached were the we UTMB. awarded the ordering or group think year, purchase products – have we from important definitely We

which is So belonging University Medical of Premier group. Branch, to the Texas GPO

Absolutely. GPO make period. that the It facilitates for into look get of the the going to country? not we going of – our an Now or other course, – it and coming. one the agreement sales in. further still endorsement GPOs of with again, hospitals strategy at is is That’s the to hospital. But do, of next Premier look what coming definitely access that group? or growth the we a have we an We that hurdles that across given some definitely away Are years the and introduction the we for barriers Absolutely. us have sales entrance GPO, hospital. takes part to looking a getting Are an for important automatically is the it’s is But at to and have for us? effort important is to to when belong to it

Anthony Vendetti

Thank That’s great. helpful. I will Okay, it back over. turn you.

Arjan Haverhals

well. Anthony. Thank you, Stay

Operator

from line next Please of proceed with Instructions] Carol, question. your comes [Operator the question Gary Our Private Investor. a

Gary Carol

guys, Hey are Gary how you? Carol,

Arjan Haverhals

doing Things We very good. are are well. very,

the to weekend. forward Looking

Gary Carol

to family express and in like here the loss. would to Gilbert’s to him locally had and the of a I Florida. hospital visiting with pleasure Eric and my condolences meeting his South family Milestone I

tough I know was of that everyone. on So kind

some my question point, we I on. it’s lot a I know target-rich Florida, had as relating that guess to So and especially we very a environment activity of at going is know

team, already have expansion anticipating state So will that the are you someone the repping here? or the Florida in of do of we sales be in

Arjan Haverhals

Thank you for asking that question. Absolutely.

As again, had we it’s of ago, already of a candidates the going were priority to on discussions based state. or leave Florida in whether for put in for also the pandemic the persons where expansion in take it the a interviews year a undertaken But also like us, middle, speak, with of have to, one This in would to I of I that number place plan. is definitely we activities benefit to an the And bit have hospitals and prior be a words, it little the number that Florida. definitely two in taken later a to it’s initial for the part on these way, Florida. high

Leonard Osser

your company. for serious at the just you And professional, Eric much Gary, was he thank not a a to very had us friend become good but very condolences.

appreciate much very So it.

Gary Carol

And as track a good are sounds as guy. you it like Yes, far he right sales. rate, at expanding on the was Welcome. any Yes. guys

have you we eight actively So in to when those we’re is field do eight four salespeople. out that working? the And guess approximately four to go going would approximately your – from anticipate people

Arjan Haverhals

highest organization. But people commercial means more is to we Yes. of and priorities also of key getting are It that apart, better, of currently our want and The it platform undertaking, and one within invest in. our need course, the goes commercial the are to If hospitals the get it sooner, we more priorities hand-in-hand. the say. would I we increase success,

the and in days, sales identifying to these of talent right lot it’s team. is So it a the interviews

Gary Carol

it instrument that the Okay. a the prefer on I still a capital in offering basis the budget the to the of that upcharge have where disposable, far we’re the hospital we’re actively a remove hurdle start as But – we’re as on doesn’t there table to the still the willing guess I And consignment capital and consign situation budget. then to track using on out that disposables. Is pursuing? and something box once still they call

Arjan Haverhals

Yes.

changed a we has been not lending still have of was help is to a It always year the equipment sales versus our flexible the said strategy. the the minimum a strategy. premium original We first hospitals, the And to part last And we based to consumables. for part hospitals went on sales commitment strategy. pandemic that sales and volume then price that our a at of thing the only the on

first of So example, also forward, we get – that’s love would hospital instruments course, we not see that on to also a changed. that for instrument, a well. But sales moving as has additional

Leonard Osser

example, like, it just through the The in of something the announced, add the in at That quarter, was not think purchasing University all. middle agreement why hospital. works, is in strategy For that Germany consignment important the been pure selling entire I or that, a instrument us first reason that yes, I was, that the Wurzburg we that we’re example, has here. can for perhaps is saying

sales understands I different the working. everybody that pillars we is So it’s and the that strategy three important are having actually think entire

Gary Carol

Florida. including still. pain in lend could intervention a management, that have free great Florida And Feel then call that connections you to Thank I within and anesthesiology and have let Okay. anything help anything me for excellent. I of guys, you background I you lot guys news, a medical year it’s me do guys hand That’s you can you a to know. I know XX

Leonard Osser

good, you a good always help Have is weekend. appreciated. All Thank Gary. much. Very very

Operator

Rowson, the comes question your question. Investor. from Private proceed Please with next line Derek a of Our

Derek Rowson

don’t to my can little want a but of manufacturing. you’re taking state question. any to Is you it Hi. color Thanks the before And now there just in right if supplied the be just with see you manufacturing, on give horse, or from? going China? about are put cart political that for them? had I terms question I where so, a foresee the hurdles to quick getting with

Leonard Osser

Well, United facility of disposables producing been the the instrument dental in will our produced Chicago. at States, disposables Joseph, instrument is in same for, XX years? is We’ve the The – outside be produced China.

Joseph D’Agostino

Yes.

Leonard Osser

About XX been so investors, And whatsoever. that could years. – that no own set get management the a people we’ve Japanese had case. out very we always where us Tianjin of in difficulty – of include the has facility The of were owners that major that the owned the factory company that number It’s one our of China. a in that for who a up come excellent pricing, which years they for Japanese- upper facility of

personally don’t with with professional. States, frequency They’re I visit while worldwide facility, I’m the facility, level very with They the there, the the any on So which there. with United are the some management, problem good foresee a in as we production. as Germany,

meetings see any Xi As problem that on don’t far so will have as that ball. crystal foresee not down our to don’t I political I the going President situation, pragmatic the both decisions forward. come think in no area. naturally, difficulty But having and Jinping. countries, I’m based between that I in I But any

agencies regulatory change happens what know the as often. never things You

both and with deal that. We have skill the there set to here

efficient of more we in instruments things our changed has a in certain will bring the We prices, quantities objective our disposables in forward. towards doing be that the as buying the in either that. around So short And always for the which go margin will or the any answer the way, with XX% nothing disposables. – down price. manufacturing the Nothing don’t lowering is I work foresee difficulty

Derek Rowson

much. very you good Thanks. Thank a Have Excellent. weekend.

Leonard Osser

You too. pleasure. My

Operator

Our line question. final the Cork, Please of John with comes from Private your question Investor. a proceed

John Cork

Hi, with Arjan. to you Nice again. Hi, be Leonard.

Leonard Osser

you. to nice It’s be you. Thank with

John Cork

company question, projections the the Yes. striking. outlined Milestone, care, in association trying the income aware the Technology. combination what if And company. where and March – for This possible a long of the is in a of exciting Dynamic you to which patent, figure out My time neuro And to striking. epidural on deal. is I’m I’m the participants to your my the the on are possibilities stimulation the medical seem of becomes field, is European shareholder as not recently most fully indicate relates of going, so me, a patent, That market I’m be seems I’m with to the or the out DPS this pretty trying Pressure big time tenth might of announcement that XX specific standard implications alone to figure ever. ninth a not a but pretty Sensing

thinking, Now and I day on don’t I’m volume over, where you might company? you the implications for price greeted to this, this upside that patent comment if action. know set it And comment reading has huge market this was particular could Or was and related the by on But Milestone. lead patent opened that for I’m up a whole this new of Milestone? possibilities for on

Arjan Haverhals

Yes.

well, So thank explain that. try question, and you your to let for – me

say, that potentially used, XX, why the block is our on stimulation. it is release March always important? the we it nerve can be peripheral used. – And and Because have syringe wherever said we correctly So call it you was, nerve PNB as that technology hypodermic was

the Now this the do in between for differentiation or to case, peripheral is intra-neural extra-neural Technology would and what block, say, intra-neural the avoid, injections. delineation, let’s Pressure Sensing nerve – Dynamic

and have is is important? been positioning So proud What doing ongoing, been this the research question, of clinical important it particular, your it in we of also similar reason. It’s have as for in the epidural. needle area. we have to following why that is that, would there’s in the we a then And

that proven it this has and indication. in our all, a of role has place has First technology a

repeat – words, be in also nerve that said, stimulation, level also your indication. to related what It’s they to used if But enthusiasm. them, I in thirdly, you may think seemed to another technology with the I think high Secondly, size block. is call there you have which the the XX combination a about in market epidural look that alone, million XX in on in where million the I procedures we XX if peripheral into the block, nerve nerve peripheral is addressable procedures level, because global procedures about U.S. million market of

new enthusiastic. in might the association So of colleagues market, that attending technology and reason some a to your in larger a in potential our have area addressable a different be used market larger been why with or a as that the research invest were we important to in area involved for in confirmation us, the we, well. is have it opportunity have when future meeting clinical already an that an a, to are in But patent,

Leonard Osser

years Hospital by were four approached in and Professor Professor a about France To we Choquet. – elaborate ago bit, Montpellier

French English better my better in and Forgive Italian. somewhat in pronunciation, I’m

they However, were would because eliminate and and a blocks. they missing very the approached nerve morbidity with ultrasound link found working successfully produce with technology dangerous that stimulation associated device our as very but expensive peripheral the to nerve us

in been working are So patents, they peripheral patents blocks, These they leaders nerve culminated with Scientific. is and are development this We’ve four for them the in world us. approximately at we years and our received. in approached the Milestone which

the and moving anesthesia Wherever sedation. of The It can is correct. is important. a we where to regional moving. going is the expand that’s was world do because market. very, It from the anesthesia, both general is very you’re away and This cost conscious dangers market correct. we high are So huge dramatically

in certainly, that. according proven So missing in enormous and link the to this, this are they experts, the we And the potential world for is have this area.

other this of company. and are – to very the So things yes, important our very, it’s future

John Cork

understand They’re they your not works when on working potential all correctly. also force So are just addressing hospitals, with hospitals? new sales procedure for the PNB epidural application. I So

Leonard Osser

in putting delivery. No. the Not of labor market and our in – all epidural Europe expanding and yet. significantly States, and we’re United both into efforts the dental, now Right and

is peripheral a We areas do will instrument moving moving nerve into. new into of that will be the that block. That we’re one

As you the is one know, can for But used Arjan Botox as intra-articular. wherever we is said, the hypodermic possibility subcutaneous syringe. injections, replace syringe

expand the the the instrument, dental. area areas looking So we to that immediately: those the Botox are dental PNB, we’re the while

John Cork

be you appreciate hopeful to continue your thank efforts shareholder Well, I of all Great. much. Milestone thanks. I and a Scientific, so

Leonard Osser

Thank you. Pleasure.

Operator

the turn I our call concludes to back over And And would question-and-answer any to session. management with that, for like closing this remarks.

Leonard Osser

in the continue we working X% thank joining first to probably dental work the market to And in we to like say everybody of we market I’d that also as the epidural to X.X%, expand market. like I’d call. world. share for worldwide the are have expanding diligently

So deal room expansion. great there is of for a

to We our rate, continue bring burn at we’ve been continue hope down to successful and bringing that. down and

added that conversion other the The to in warrants. our first considerably quarter of the balance has is the issue sheet

$X.X I far, in Joseph? thus have, believe, We brought million,

Joseph D’Agostino

Yes.

Leonard Osser

that would Maxim of we had the coming had said of did long we’re over we in. that that out we and It given But as raise a far expanded we had didn’t very other more move the to About how subsequent this the $X.X recession. – to money optimistic. have period success we raise one the did last it We time that We looks like the has way secure should were the of been now which with then company know million take warrants. long through because on conversion when pandemic. been nervous of dramatically

position. any think Board XX raising the no $XX can remain have differently. operational reason for month going forward are see operationally share, But for we good moving capital or for needs now, So over was in the if we a well very We forward. money – the that period might where for we right forward. going stock financial Obviously, no $XX

this over appreciate for quarter. over Turn additional So all to thank you us. forth it We to reviews Devon. it joining hope and back have much very you, coming

Operator

And with concludes today’s teleconference. this that,

at You a wonderful you have may day. now disconnect your Thank participation, and time. for this your lines

Milestone Scientific (MLSS) 2 Apr 212020 Q4 Earnings call transcript