Q3 2021 Quanta Inc Earnings Call
All right.
Alrighty I think we can get going here greetings valued shareholders and followers of our company welcome to the Quanta, Inc. Metlife Rx 2021, Q3 Investor webcast. The company wanted to take this time to explain some of the operational updates that happened in Q3 and provide some updates on the overall happenings within the company at this.
Time, all participants are in view in listen only mode and this webinar is being recorded.
Representing the company today are the company's CEO, Dr. Arthur Ceilidhean at CFO, Mr. Klim Pet gorilla.
Maggie Jamais marketing and brand development, and Steve Winter, Social media and communications.
On this call management will be discussing recent happenings with within the company and I would like to remind you all that during the call. The prepared remarks may contain forward looking statements and management may make additional forward looking statements during the Q&A session when.
When used in this call. The words anticipate could enable estimate intend expect believe potential will should project and similar expressions as they relate to quantity Inc. Are such forward looking statements investors are cautioned that all forward looking statements involve risks and uncertainties and that actual result.
May differ materially from those anticipated by Quanta, Inc. At this time other risks are more fully described in quantity public filings filings, which can be viewed at OTC market Dot com.
Before we begin we would like to share with you.
Right.
If you're not speaking if you can go ahead and we would appreciate that.
Yeah.
Alright.
Four we begin we would like to share with you the world premiere of three of our newest Tony Hawk ads that are begin that are set to begin running in the coming days, we hope you enjoy it.
Okay.
<unk> already taken its toll on the body.
Especially in Asia.
Yes.
Thanks Elliot.
Especially after the hall.
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Yeah.
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Sure.
We have already taken.
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Our cost of our service area Craig of IMF products.
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What makes <unk> so effective.
That is our.
Or.
40th fossil physics of in house products, five solar longer lasting.
Great.
Goodbye.
Hey.
Hey, guys, I'm, Tony Hawk, and a doctor or a requirement.
Please go to our store Dot com.
Duane.
On behalf.
Ed.
And all of us at Alea, or wishing you, a safe and painfully holiday season.
Fantastic and with that I'd like to turn the call over to the Metlife Rx CEO, Dr. Arthur Mckee alien to begin.
Yes.
So valeant shareholders.
I would like to.
I'll take this opportunity to address some of the outstanding cautious deaths whichever series from investment community.
<unk> provide a brief update on some of the latest development.
First by Electra address.
The situation with.
ACC investigation. The company is not able to comment on the Securities Exchange Commission investigation. Unfortunately at this moment.
Wishes nonpublic companies cooperating with six physicians coming commission and it's.
Let's just start.
Yeah.
I would like to.
Our start.
Or.
Communication with the general release of filing with Ministry of environment in Dominican Republic.
Yeah.
As CEO.
By our agreement with the Minister of environment every six months, where you use or we have to have some.
Progress report, which has been done in this year very successfully.
And we have been.
Is it all.
Representative from Ministry of Health, and wellness, social environment into our scorecard resolution reservation fields.
That process was very low.
We expanded our aspiration, it's been already expected.
The minister of environment, and we are receiving very green.
Help and cooperation from their side.
Meantime, they preparing naturally at very interesting event.
In.
Sure.
So lot of the December.
This project become as one of the.
Loan project that represents the Dominican Republic.
And several countries electric facility from Germany.
Some other European countries and.
Puerto Rico, they go to visit our.
Reservation, because what they want to have some knowledge about our achievements.
And they're asking us to implement similar type of project in their countries. So.
We will have additional information about that and it will provide.
That information in our publications.
I love to actually very important one.
The latest development of our business activity in Dominican Republic.
But because of we had some.
Delay in our cranky, so and that also affected in our more aggressive and active application with FDA.
With our <unk>.
I took some time and we started actually very actively working with Starwood Dominican government to implement.
Our product as the COVID-19 therapy in the country.
Can you please.
Sugar picture.
Kyle.
So that is a feature of our reservation so.
It has a very nice meeting with the vice president of the country.
She.
Handling.
Health related specifically with Covid related.
Activities in our country.
I was surprised how much they already know vault products and the progress that we have with our <unk>.
Study in clinical Cros.
Okay.
I was thinking I have to convince them to.
George project to our.
Product.
But Dan covered governments OXXO team was not necessary.
Give us a green light.
And.
President is favored over the product.
The project also.
So from that moment after our meeting what happens we already.
Garments organizer Cerro meeting for us with several departments number one studies.
Garment, though.
Health Security Department, it's similar story in the United States like.
Medicare.
So.
What this company does.
Any product is going to be paid by insurance.
They usually are Croatia, all unnecessary orders and they are transferring to another department.
Promus Laconia its colm here.
Company rooted does accumulates all the orders and then distribute and makes the payments.
For the company.
So a second meeting was that competitor already organized by government.
And we've been told that 60% over the payment is going to be improved and another.
A month or two.
Dori.
So that process is completely done we have just only lift one more step to do with munis roof.
L batteries.
Formally product is already registered in the country and it needs to be include on in.
COVID-19 treatment protocol vaccines.
Doctors now doing any type of treatment they have to look at the list of the permitted.
Medications and products two to apply to patients.
So actually in hopefully this week that process will be completed of course.
If there is any additional procedures are going to be required.
Implementation.
Our studies have already been <unk>.
Submitted.
They know our product so hopefully that process that last step will be done quickly. Unfortunately in countries like Dominican Republic.
Things are not happening that quick.
Comparison to what we are doing and what is the scale of this.
Event is actually we are.
Moving forward very very.
Quickly.
So from the moment, we got additional information, we will have a press release about that.
It will be in our 8-K filing and press release.
So at this moment, we have already also.
Have preliminary.
Orders chrome institution different types of hospitals.
So that also necessary to complete the whole entire cycle governmental orders.
Now this event for our company.
It's very.
Very important one.
Compared to this.
<unk> almost like similar to <unk>.
<unk> impact for the company for value of the company and recognition and worldwide similar to FDA approval for <unk>.
COVID-19.
So why is that.
The requirement.
We're screening interested number one results are.
Remarkable with COVID-19.
All our studies with has been done and been looking at.
Studies and results.
I did have honestly later, but worry about it.
Gone away very quickly and my daughter was when we were doing the study with COVID-19 in Dominican Republic.
At that time it wasn't Delta version.
So.
Lately since we have a little bit of time.
We didn't do any like specific study, but we did some clinical observation.
<unk> patient they use it what's COVID-19 to adult aversion.
And.
Fortunately, we're getting the exact same results and summary of the results are usually fall base after analysis of positive <unk>.
Correct.
Patients with Covid.
And for these.
And fight this maximum.
The COVID-19.
Shows negative.
In seven days, usually symptom score.
Go away.
And in like much more difficult cases maximum 14 base all the symptoms goes away. So we have similar results with the Dell solution. That's very uplifting gives us lots of lots of them.
<unk> for further development of this country.
But another very important factors.
Carmen, we got to greet that.
After they are going to see.
Results from impact of our product in the country.
They are willing to organize international conferences.
In flight.
Latin America represents a Latin American countries and promote our product to other countries that is very encouraging.
And we actively also working with our.
Production sites two in case, when he is going to grow.
What we are expecting so it can be prepared for that type of growth in.
In the production site.
So that is our latest development work.
With Dominican Republic.
Meanwhile, we are actively working with our Mexican distribution company.
So we.
We are also have a positive.
It will have meant here.
Yeah.
We provided our expert.
Expert fishing documentation from Dominican Republic because of.
The version of the product we are producing in Dominican Republic your term.
April Covid nine.
19.
<unk>.
<unk> packaging for a little bit.
And Mexican authority accepted that export documentation that we provided.
And now at this moment, they waiting for authorization littered from Covid a priest.
We've been told that process can take from one week or two week of course.
We can't guarantee it takes our timing of when that will be but usually for this type of authorization is takes.
For one to two weeks to get authorization.
We already have.
Pilot product for them ready from the moment.
When this lost Dr. Glenn is going to be really why I said pilot because we have to check the logistic we're going to have some small shipment.
The whole logistic process the same way.
Somehow this process going to pass.
And our purpose already working actively to market and distribute product in the country.
And so thats that is the development.
Mexico.
Yeah.
So their projection is.
Probably in the first quarter.
2022.
Distributions in lower will start to increase and we will have a successful business in that country.
Yeah.
Meantime, we working so that is the product, which is going to come from the Dominican Republic, but meantime, our immuno pen also has been passing the some of the.
After registration process.
We've been told that.
<unk>.
It doesn't look like there's any formal.
Probably because of this product is going to come from the United States and as you know already that you see in homeopathic before.
Meantime, we are working with our partners in Mexico to have a joint production.
Okay.
Eylea Masan rock.
So we analyze it is going to be much easier to actually produce product. There then just shipping from United States.
So in our case why it's a joint production because we're going to do polarized raw materials and send that.
To them with our specialist who is going to go there are trained in local.
Production manager or production people. So they can produce final product in Mexico, So tonnage reduction what our.
Partners.
Activity in Mexico, which is very promising.
And hopefully we will have very soon.
Additional.
Information about this development.
Yeah.
Now please.
Slide sort of a controller ibuprofen study.
Thank you.
Yeah.
So I think we did have some publication about that we are using.
Our conversation technology to sequence some other product launch like we did.
Efficacy study.
Profane.
When we saw 257% increase in efficacy at this studies related to Cox two inhibitor, which is enzyme in case of when people have inflammation.
This is more elevated and products like.
Our CBD in Colorado CBD.
Actually that.
No.
Bring us down as same as ibuprofen effects on.
On costs, two inhibitor factor, so, but when we compare to non polarized polarized ibuprofen, we're seeing 250% increasing.
And of course, we have from our public issue. So we have some other products as being polarizer. It we're getting seamless back over.
Positive.
Respond.
So we believe it's time for us to chrome Nir will start.
Cooperating with some.
Pharma companies.
Demonstrate this effect.
See what how it can actually licensed our product or our technology too.
Collaborate with other.
Drug.
Companies.
Yes.
Meantime, we started.
Comparative study.
Our muscle around with other very known.
Company's product.
Ordinary is very encouraging.
Preliminary studies quickly.
Preclinical studies of course again with Cox two inhibitor factor.
Unfortunately, we had some technical difficulties because of the.
We can obtain.
Competitors.
And final product, but not that theyre enrolled materials in clean form, but dis method, what who are using it requires actually have every.
Component every raw materials to be separately when you mix them. Our results are not clean. So we are working on this process. We have some results, but we wanted to be sure.
Our study is clean.
<unk> represent a bowl.
So we're trying to find a method how too.
It should be overcome this.
Sure.
<unk> related work.
Mix ingredients. So we have several ideas are going up.
And of that.
Wind resource was going to be ready again, we will have some published speed bump down.
Okay.
Please.
Put the ribosome.
Sites.
Yeah.
We have another vertical that we didn't talk a lot to get.
This is.
Yeah.
My approach to robust formal new therapy.
I mean, just a couple of awards that.
I will be quicker just very exciting resource regardless.
<unk> homes is like a production factory for coaching yourselves.
So what they do they produce all necessary proteins in the body.
So mrna, which is messenger from DNA.
It comes to dictate our Russell produce whatever is needed for a quarter to body.
Message from DNA.
So for example, right now like we know about mrna crack of vaccination, which is very fashionable.
Methodology, but not only mentioned we have another methodology or what she's one step farther actually robo solar because so given mrna messenger they still have to deal with their own muscle. So <unk> been why actually wait for.
Mrna when actually we can do.
Directly work with rigor assortment. So this isn't like a lost.
Important in <unk>.
Protein production process.
Yeah.
So.
We have very interesting preliminary results, let's go to next slide.
So in this slide we can see that line.
Around <unk> of our muscle and this line width.
Does that ease the mrna messenger so.
That's where that's how our robust home reached a message and they start producing a robust so.
Next slide please so what we did actually.
<unk>.
We took.
Sure.
Give me one second please.
Okay.
Yeah.
In this slide you are seeing.
Survival rates of human kidney fibroblast.
Whereas we're down progress promote infusion so we.
We have version of them in the study.
Suddenly through infusion.
For human kidney fibroblast and without it. So this chart is showing.
N.
<unk>.
Chilean kidney fibroblast.
From left side, you can see this rose color.
Before actually.
Application.
And 14 days actually they start dying from REIT strategies.
Debt.
Load factor.
So liability.
Situation.
Now in.
Next slide please.
In next slide.
No actually wants to glide back.
Hum.
In this slide.
It shows this is a word we have ribosomal infusion. So that we can really separated ribosome strong on DNA.
And sales now have robust small infusion additional chromosomes now in utility 14 based laser di anymore.
And they have slowed wearability and sales are healthy and that is very very promising result, so that means just the concept of just <unk>.
Separating the ribosome and applying to the cells, it's already have positive respond.
Next slide please.
So here.
Also we are showing.
That rather similar infusion actually increases ATP.
Production ATP into it.
District energy.
Factory for human cells.
So by adding Motorola swaps, we are increasing that ETP production factor up to 90.
Percent more.
Compared to non robust home infusion related. So this is a second proof that this concept Gus.
Very strong.
Correct.
Next slide please.
This.
These other.
Experiment, we did actually it was like a tweaking a little bit.
We took a human.
Dermal fibroblast.
And we infuse it what.
With the ROI Muslims.
But drive US also kick yourselves right.
So.
Derma Spa doesn't produce.
Epo protein, which has been producing only in.
In the kidney cells. So this is a phenomenal result, because of what happens we saw by having influence will kick us off.
<unk> two.
During Moscow, we've been able to increase.
If you enter protein production.
62%. So we actually saw that we got to be able to.
Dictate or tell us what to do for us.
Next slide please.
So now our next step is which is very exciting step and I will explain why that is going to be very important for us.
So mrna mrna messenger right so.
There is already.
Study showing even like in a vacuum.
Production when they are using mrna that is a part of the spike protein.
It does on some.
Some negative influence.
These methods are much advance and there are good but still there is some kind of <unk>.
Side effects comps weapon because of.
Mrna carries some maybe some other messages that.
The body of Needham.
So our concept is since our prioritization technology, we've been able to target single.
Molecule so same way power.
Concept is now next step is going to be we're going to create special signaling methods simulate without having mrna, but youre going to have a signals.
Our magnetic fields that theyre going to mimic.
Mrna messenger.
And.
If we I mean the results yes, Amazon is already good awards, we're getting but I would again, one more step quarter. When we can have a pure actually influence on our Russell without any kind of luck.
DNA message mrna messenger just a pure.
Message to produce certain kind of for example antibodies against <unk>.
COVID-19 virus or any other kind of.
Killer cells to fight the cancer. So with this method you can actually occur.
Program brought about homes to do.
Many many different function and that could be new methodology for them.
Drug development.
So we are actually in turnkey into that mix.
Hopefully we'll have the results soon.
Uh huh.
We'll provide additional information related to this.
Some of.
Our.
Investors are asking about our cancer trial right. So.
I don't know if you remember from other.
Our presentation of obligations.
We before Covid started our company was completely being ready to apply for.
FDA.
Sure.
As an orphan drug for pancreatic cancer.
And the use of Practising castle, because it's one of the most difficult one and we did have good.
Even human study in Dominican Republic, So we feel comfortable and confident that we'll get that accrual down because we're.
We're seeing if he gets yolked.
Product.
But because of Covid and Covid provided fastest registration process, that's why we shifted our attention from Covid.
To cancer.
The registration Catherine drug registration.
But the important part is that.
Yes, we know what the core can get fast registration, but because of the main ingredients will be.
Approved.
So if we are going to apply after that.
For cancer trial.
And we don't have to go to a safety study. So many engravings is already being.
Tested as a safe.
So what does that for us shortening.
Almost half.
Registration process.
<unk> process and of course less financial need.
Logically for approval process.
So yes actually you are waiting for.
Complete over.
Okay, Andy and Terry to RMB process, what's COVID-19.
And after we pass safety study, we will definitely.
We'll start over a month of cancer.
Truck application also.
So that is our.
Sure.
Plans related to.
So of course.
Because of the delay with the <unk> debt.
Cosmic little bit delay with.
F D a.
Additional studies.
If they're required.
But we are finding some alternative means of financing so it can move forward.
Until the rig is going to be completely approved.
So that is our of the latest development.
Back to you.
Alright. Thank you for that Dr. Caraway next we're going to go to our acting CFO, Mr. Clinton path Corella claim Ryanair.
Hello, Sir.
Good morning.
Many of you have already.
C. We did get our 10-Q filed.
Yesterday afternoon.
Just wanted to.
Highlight a couple of items there.
On the financials, and then I'll piggyback on a couple of comments.
Doctor at need Air.
Our three months ended September 30th one client one.
We had about 97000 in net sales for the three months as compared to about 315000.
In the previous year.
Comparing year over year a lot of.
Many of you may have noted that.
Cost of goods saw Bart or were higher than expected and that's because we include an increase in our reserve.
64000.
Two our reserve to our engine supplier at 64.
Yes.
From an expense perspective, the three months ended September 30th.
We had a $1 million 17.
And.
With 105000 gone towards our research and development costs.
And the remaining 912000, CT selling and administrative and other costs associated with our correct.
Operations.
Does that $9 17 for the three months ended 2021 versus the three months ended sept.
Tamara theory of 'twenty 'twenty expenses were $1 five to seven.
Million.
Our 2020 that 1.5 included 60000 R&D costs are one 2 million in selling administrative and other costs associated with operations and also in 2020, we had some <unk> 255.
I'm gonna impairment through an operating lease for a for a property that.
When we last.
From our current share price perspective, obviously, I think everyone here is disappointment on where the stock price currently stands.
And we hope as the company starts to execute on it Africa Zane and other businesses.
Stock price well or flat accordingly.
The doctor that touch.
Touch on the FINRA name change and sell more change.
As recently as last week FINRA did request some additional information with respect to that and we have.
Followed up with them.
With regards to what they requested.
Similarly, the <unk> situation.
We are still waiting for confirmation of approval.
For it to go to be effective.
This time, it's back to you.
Okay.
Great. Thank you for that.
Next up we'd like to invite members from our marketing and sales team and social media team, Steve Winter and Maggie domain.
Hello.
I'm not this is Maggie and I'm, just going to give you a little bit of an update of where we are in marketing and in our social media activities. As you know we're partnered with Tony Hawk.
And we have just started our consumer facing program with Tony We had an initial extremely short post that.
That was came out about four weeks ago and that pouch within its launch we've received 300000 unique visits which is an extraordinary amount of usage.
Considering that this is a a non skateboarding product that Tony is talking about we then recently posted over this this past week and in the first three days of that second half as we have over 166000 views unique views.
So.
We are really getting a lot of exposure from working with county, we know from.
Attending Tony's event in Salt Lake that this is a marketplace that is extremely high injury skateboarding is the second highest injured injury sport next to football.
There is a greater number of passive and and Ah completely Atkins skateboarders as compared to people that play football on a regular basis. So its a very wide market and Tony really addresses that.
Tony does skew a bit male.
We're seeing at the events, we're seeing about a 70 30 male female split.
So in our upcoming efforts, we are looking at Influencers in the health and wellness space that.
That are going in and yoga and that are going to focus more towards the email.
Potentially use it because we know not only is she purchasing for herself, but she's office often purchasing for her family.
Upcoming with Tony Hawk, we have a giveaway promotion you saw a bit of the video that we're going to be launching that promotion with that promotion is going to be launching.
Either at the end of this week or early next week and that will run into December were looking at a multiple a giveaway multiple number of giveaway days, so we'd like to.
We'd like to have four consecutive days prizes pre Christmas that will be given away to people that go onto our site and register for this raffle, we know that tonys number of eyeballs is between $6 million and $7 million. So we're hoping to gain a lot of awareness and then on the.
Multiple days of giveaways, we're inviting and telling our subscribers and our our cut.
<unk> set a entered into that contract to come back. The next day, if you didnt when come back. The next day. So we're hoping to see a very high bump on a in activity on our site just prior to Christmas. We're looking at that give away campaigns and on December 20th. So we have enough time to get all.
The prizes out to everyone who has registered.
So that's that's.
That's where we're standing right now with Tony Hawk and are immediate.
Influencer.
Like I said, we are looking at now.
Attracted more back Gmail space and again, that's going to be through micro macro and Mega Influencers in the health wellness and Yoga Arena.
Steve.
Yes.
And in conjunction to that we're also looking at some other micro Influencers, we're working here locally in Texas with a gentleman named Michael Garfield High Tech Texan, who has I think 50 to 100000 followers. His thought also was another influencer with several hundred thousand followers. So we're working with them also going with the micro.
Influencers on social media and.
Seeing what else we can do there we on Facebook.
Facebook Instagram all those types of things, we ran into a little bit of headwinds.
They do not like CBD product and so that's we made changes. So when you look at all of the new products now theyre going to talk about our hemp oil extraction, which is the same as CVD EBIT, we're not publishing it is CBD and now and they will let you advertise around hemp oil extract so we're going to start doing a lot more advertising on the social media with the.
New labeling we also are in the last rows with Amazon right now getting the new products out on Amazon. It will probably be Q1 of 2022 when those are out there during the holidays. It's obviously very hard to get anything new out on Amazon, but we're close to getting that with the area of products and with the immune dependent.
So we're looking forward to an exciting Q1 of 2022 with Amazon and really hopefully starting to hit the social media network a lot harder.
And then I'd like to talk a little bit about our conversations that we're having on the brick and mortar retail side.
So we're in the process.
Presentations and sending out sampling and sampling having filling out vendor forms with a multiple different set of categories with big box. So one of the categories. We're looking very heavily into and have been in deep conversation with is our big box national retailers and those include Walmart.
Target Nordstrom Bloomingdale, all those retailers that have a very active health and wellness space.
Another extremely important segment of the retail brick and mortar is our specialty stores that include whole foods sprouts, Bristol farms lazy acres gelson those specialty supermarkets have really more than anyone else supported the CBD space and so.
That's obviously one of the areas that we are are heavily in discussions with them.
Then we have our sports retailers.
We know we know that in the sports space.
The assembly of natural fit and then our final Eric Yeah, It's true the grocery and drug stores, Ironically, and strangely enough albertsons as one of the largest destinations for cells with CBD in the country, which is very soon.
Right.
Some of the.
Some of the drug stores have really gone into a repositioning of what theyre doing with their <unk> statement.
Their merchandising strategy originally was to have it segmented off space in the store that was jeffs CBD products and that.
Really doesn't make a lot of sense because you wouldn't have a you know a vitamin C segment of the store, it's Justin ingredient, that's appearing in multiple product categories, including cosmetics supplement muscle Rob's. Okay. So now the retailer is looking at.
Why are we segmenting CPG why is it just not yet another ingredient I mean merchandize in the proper places in the store that the consumer is going to search out that product.
Net of having it in a closed off locked and cap like they have been they're now starting to consolidate their assortment of CBD, but put it into the store into those categories areas like paint their pain relief like muscle Rob.
And then the wellness wellness supplement areas. So it's actually a really interesting and very good timon retail in that segment of retail because if theyre doing a total pivot and reposition that will make this product more understood and more everyday to the consumer I think the part.
Really calling out this is a this is a CBD product what it's doing is if theres any emotional resistance to the concept of CBD Kim from a pocket it but if they just see it as yet another ingredient in their pain medication in their muscle Rob in their anti wrinkle cream is Zen theres going to be a lot less resistance.
Hum.
So that's kind of where we are with the overview and the process of moving into these big box retailers and it is a process.
You have to think about with retailers with buyers you divide up their categories that piece of floor space like a pie and each one of those little segment is responsible for millions of dollars in sales in every single store and in no retailer is there blank space on that floor.
It's right now completely 100% built with other products so to introduce a new product they literally have to take a gamble and remove a product that may be under indexing and we put in this new product and of course their job is on the line if they make the wrong decision. So it is a very.
Carefully vetted introduction when they bring a new product in but what we're hearing from the major retailers is CBD is not obviously going away. It's a category that continues to grow. It's a category that continues to become more every day, which is really a good thing for us.
And it's also a category where they're looking for exciting new types of products, which of course, our product definitely has some states. So.
We are we are really well positioned we're just kind of walking through the steps now.
Where were.
Where retail is in general and I'm sure you all have been seeing everything on the news about what's going on with retail currently through Q4.
It's a really nasty chi for situation, we have you know, they're calling it the perfect storm.
In that we have major supply chain disruption due to COVID-19, so you've seen and heard about all the ports that are closer to seeing in Malaysia and that we have you know we have freighters.
Ships lined up in the harbors that can't make it in with.
We're starting to see with retailers that they're coming up short with certain products everything from apparel to food to everyday consumer goods and also holiday presence.
We're in the.
Right now in.
Our state of major inflation and disposable budget. This year for holiday spending are lower than they were.
And then we have combined.
Understaffing at retail because people.
People are still fearful of going back to the malls because of Covid, 35% of U S. Consumers. This year are going to do all of their holiday shopping from a mobile device or their computer.
78% of U S consumers are saying that they have to can you experience about COVID-19, which is impacting their choice on what they spend and where they spend it.
And <unk>.
So all that put together.
It's really indicating that consumers are not wanting to go into these large crowds right now theres still nervous about it so consumers a lot of times now if they're going to the malls that theyre looking for low impact hours less busy shopping days, but theyre not going to their local stores rather than big box.
<unk>.
And a number of large majority of <unk> will be doing their shopping online were seeing an overstock index rise of 172% of last year, meaning that we have an increase of 172% of products that are not going to be available and that has pushed retailers into.
Not doing there's a huge black Friday discounts at events. Many malls. Many malls are putting bans on any large indoor.
Motion all events or activities.
Yeah, basically add as Dick's Sporting goods explained to me, we do not want to be known as the retailer that caused a super spreader of Covid. This year. So they really have been impacted by what.
You know what the consumer's dictating what the malls are dictating and Dan.
You know what what their individual corporate teams are dictating for them for holiday. So Unfortunately, we were not able to do our DIC program our in store with Tony Hawk. This holiday.
Just it wasn't prudent they decided against it they love the idea of the events of what they're talking about is in the spring.
Dicks is combining Dick's Hot right now has over 700 stores in the U S and they're now combining their independent golf stores and their independent soccer stores in.
<unk> about 12 Mega sports stores around the country.
And this spring there'll be launching a series of outdoor events and gatherings and activities and some will be indoor if.
They're getting better reports on Covid number in downtown a lot of that so that when they said they really feel that it.
It would make a lot of sense pull us again, it's athletic sports, it's going to be warmer they can hold the outdoor events and people are buying for their kids for spring sports in schools and also preparing for the warm weather in the summer holidays. So that's what we're looking at as far as Dixon other outdoor events.
Okay.
Steve Thank.
Thank you for that or anything else to wrap up in the marketing section Steve.
Sorry about that yes, yes.
To wrap up the year and what we've got going we do have a lot of promotions that were getting ready to come out with obviously with Tony Hawk and some giveaways.
The state board and in products and we're going to do some bundles, we're going to do some buy one get one some thanksgiving holidays, some black Friday cyber Monday, a buy one get ones. So we are going to be promoting a bunch more the website continues to increase in volume and our average order continues to increase I think we're close.
80 to $100 on average order now on the website so.
We are seeing some good positive movement on the web.
Great wonderful that was an exciting update and we truly appreciate it.
Back to you Dr. <unk> for any closing thoughts before we move to the Q&A session.
Yes.
Okay.
Dr Mccarron, Carl Thank you Kyle.
Well I'll interest income reward to our shareholders.
I know, it's we just all general living in a very difficult time.
So that this softness everywhere and of course it has an impact in our company also.
But one people don't want to encourage everyone.
We love to do and we believe maturity we.
We believe just because of the fact.
Each time, when we're seeing the patients in Dominican Republic that gets well, it's free from cancer or Tom.
Covid cutting carriages.
We are in the right position bright path and we're going to continue being one of them we started today and.
Wanted to not lose faith in us.
So we are not losing Godfrey.
One of my slogan and my lawsuits Neville you will notice Robert especially when you know something good for humanity.
Yeah.
So.
If you'd like to go to questions.
Absolutely. Thank you for that and I think that that is very genuine and we appreciate that so now we will get into the Q&A session. We did keep the portal open during this call however, shareholders and investment community were encouraged to submit.
Questions ahead of this and so we'll try to get through them as we go.
It seems like some of them had been addressed on the call that were previously submitted but I'll just.
Try here to talk about them. So the first one is and again I believe bolt, claiming and document Ceilidhean explained this already but did the company submit for veteran name and symbol changed.
And when can we expect it.
And that's probably for Dr. Mackellar in Oklahoma.
I think COVID-19.
Clay will answer the question if you don't mind.
Sure I think we did mentioned it before we have to follow up a follow up last week. So we don't have a definitive time, but we're we're obviously hopeful it sooner rather than later.
Got it thank you.
The next one how are the toxicity trials on animals before process into human trials for the FDA coming along and that's most likely for Dr. Mike alien.
Yes.
As you understand all this question related with the FDA.
Additional studies that we need to do it's a question of <unk>.
Currency financings that we are getting to complete because these studies are not cheap, but we are working.
And hopefully we'll soon we will have.
Necessary to complete all these studies.
Great. Thank you for that.
Next one here I'm going to jump to one from the audience today.
It says, though we know that you cannot comment on the investigation does the investigation have an impact on the recent fall in value of the Companys stock.
Hum.
Unfortunately.
Is related with the mitigation just.
Bye you probably for the legal process, we are now.
Unfortunately, because of really if we could.
There was a lot we could explain and.
But we can't comment on that is done to fixing to stock. It is hard for me to say that.
But what is important for our investors to know I mean, theres a stock of course and there is a fundamental and I believe from the Memphis are very important the order from them and put November part of the company.
So all of our fundamental ease.
Gone.
Whatever it needs to be done to sort of this company can grow even with difficult situations, we are still growing and moving forward.
Got it.
Hum.
Next question here is how do you plan to compete against huge pharma corporations for getting your products approved for the U S market.
Very good question.
Why compete.
So I'll explain what I mean by that for example, with COVID-19, right in Dominican Republic, now going to the use of that.
Together with vaccination actually day, one but.
But the government want to use our product to CRO.
Both vaccination, because so low why we noticed that when people have.
This a booster shot or second sharp and they are getting.
Negative side effects.
When they take our product.
Also diminishes or takes way over in China.
So I believe in cooperation with vendors of Covid side right.
And.
Relative with cancer treatment, we have another very good strong.
Point.
For example, a study which we did in UCSD Moores cancer Center that shows when you for it.
When.
Patients' behalf.
Nope.
Chemotherapy resistance.
When you use the product are public with that same chemotherapy or chemotherapy start working again.
So our product in it.
<unk>.
It can.
<unk> abilities that allowing us to cooperate not compete because yes, we changed I mean, we would have to be very upon us not be.
Delusional.
We can compete with that type of Giants.
But corporate absolutely, which incorporate in this our strategy.
To create that line of Corporation.
In Dominican Republic.
Government is working.
Lots of Pfizer.
Here, he would be willing to actually.
Promote.
Further because of they have a good relationship.
They are using lots of vaccination with CRO Pfizer.
When they saw these type of effects on.
Reaction when <unk>.
Program is going to bring down the side effects.
<unk>. This is a great opportunity for us to actually corporate and with the help of Dominican garments with Jin creep that breach and communication.
Pfizer or any other big companies.
Okay. Thank you.
I think we covered a lot of these as they came through.
What's happening with Tony Hawk.
What happened with the NFL events are what is the marketing strategy with you covered quite a bit of that.
What is the marketing strategy for immune a pen.
Is there anything else the marketing team would like to comment on those because we've had a lot of questions prior to the call but now.
The call has happened so I think we've hit a lot of that.
Yes, I think I think.
It pretty much conference with our immediate strategy moving forward, we do with the NFL.
The NFL events are the hub that we will be participating in <unk> three times a year again, it's it's very similar to a combine itself its former independently.
Independently represented players.
The free agents. So they do those three times a year. The biggest one is is in the spring.
So they have other.
Participants like under armour, and strangely and interestingly enough Lulu lemon so that one will be coming up this spring and as we get closer to that we'll give more information.
Information and are a major strategy right now again, it's continuing the work that we're doing with Tony Hawk with speech since such.
The strong increase in awareness with that.
And.
That is going into some of the macro and micro influencers, So it's lower and mid level influencers that micro influencers.
Someone who has 50000 followers and below and then the macro goes up to a million followers and then you have your Mega Influencer that's over $1 billion. Since we have Tony in that that Mega spots. We're gonna go now and work with some of the micro and macro influencers.
We have very loyal dedicated fanbase sense, but they don't.
They really get into the program they really benefit from it they really pushed a lot of product, it's a very personal thing.
Great thing about those influencers as they are very cost effective and and still impact and really have a powerful punch and marketing. So that's really where we are in the next few months as we move forward is hitting that three pronged approach.
Got it thank you very much.
No I mean I'd just reiterate what you are saying the same thing we are really we want to start hitting the micro influencers to and again, the health and fitness areas.
Yeah and.
Balancing that with the Tony Hawk all of the approaches to help get the product out there because we are seeing increases on the website.
And getting more and more orders.
And higher quantity of product in each order.
Got it thank you.
Just a few more here it looks like other than Dominican in Mexico, which we started to touch on I think Dr. <unk>. What other countries have you made progress towards marketing your products.
Sure.
There is.
Our products has been registered in.
Russia.
Does it gives us.
Possible to market products with that same license another four or five countries, which is one of them includes our opinion that we have already shipment. Unfortunately, the they started some work on.
We have a little bit of delay in the process.
Other fees in.
<unk> customers now and hopefully.
Governments are in Nevada.
It looks like they are going to make a pizza that we will open the door for us to continue our project thereof.
Same is in the Ukraine some other former.
So as countries.
So that license what we have Russian.
The license allows us to be soon as another four five different countries. So we will continue that.
Yeah.
In Asia, we are working on to rework.
A vietnam at this moment.
And Japan, but they are in the development process.
And <unk>.
Most importantly, most important my.
Hold on my desire is when we're going to use our product and mix.
Several weeks or month in Dominican Republic.
I said we have.
Agreement towards the government that they are going to promote with bold lift in American countries and.
Got it.
At least 400 million population market, so that is very big.
That could be our first target because it's already in the process.
And hopefully we'll have this resolved very soon.
Great. Thank you.
Looking here what is the status of the pre IMD application process.
As I already said that all related to it.
Unfortunately, with the delay of the great game off yet, but we already are working on alternative financing without waiting previously were.
Honestly every week almost.
In process, where we are just waiting list, which is going to be done just because it's going to be done and thats a little bit.
<unk> was the company when you don't know exactly when that can happen, but we made it.
Important decision.
Just another we have to move forward until <unk>.
He is going to be done we are already working with alternative.
Financing switch and move forward quite fast enough in the meantime.
Searching some other.
Entity some possibilities for testing so it can be given.
Less expensive.
So that's where we are even if you remember.
One of them.
Stages.
Actually one of the expenses that you would.
Trials in the United States under FDA studies or clinical trials like a test stage.
Human trials for efficacy.
We trying to actually do this in Dominican Republic.
The only missing link is data security data protection so.
FDA can accept that data is available data. So we identified a couple of companies that can help us it's going to be less expensive.
For us to do the study in Dominican Republic, and meantime, Dot data company is less expensive than we have before.
Interesting.
Thank you.
There are some other individual questions here, but I.
I think we've run out of time, so what we'll do is we've got your contact information for those who have submitted questions that we'll try to get back to you otherwise the company.
Encourage our shareholders to reach out to IR at Metlife Rx Dot com with their individual questions and we thank you for all the attendees today for their attention to this webinar, which should be posted on our website.
The coming days anything else any other management would like to add.
Wonderful well. Thank you so much for for joining the call today and we appreciate the support.
Alright.
Yeah.
Yes.