Q2 2022 Todos Medical Ltd Earnings Call
Yeah.
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Speaker 1: financial off
Speaker 1: At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation.
Brief question and answer session will follow the formal presentation.
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Before we begin I want to remind listeners that during the call management's prepared remarks may contain forward looking statements that are subject to risks and uncertainties management may make additional forward looking statements in response to your questions. Today. Therefore, the company claims protection under state.
Speaker 1: Before we begin, I want to remind listeners that during the call, management's prepared remarks may contain forward-looking statements that are subject to risk and uncertainty.
Speaker 1: Management may make additional forward-looking statements in response to your questions today. Therefore, the company cut claims protection under State Harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ from results discussed today and therefore we refer you to a more detailed discussion of these risks and uncertainties in the CUPE-based filing with the SEC.
Harbor for forward looking statements contained in the private Securities Litigation Reform Act of 1995 actual results may differ from results discussed today and therefore, we refer you to a more detailed discussion of these risks and uncertainties in the company's filing with the SEC.
In addition, any projections as to the company's future performance represented by management include estimates as of today August 23, 2022, and the company assumes no obligation to update these projections in the future as market conditions change.
Speaker 1: In addition, any projections as to the company's future performance represented by management include estimates as of today, August 23, 2022, and the company assumes no obligation to update these projections in the future as market conditions change. This webcast will be available at www.totalthmedical.com on the Investors Relations page.
This webcast will be available at www Dot total medical dot com on the investors relations page.
I would like to turn the call over to our CFO , Dan Hirsch Dan.
Speaker 1: I would like to turn the call over to our CFO , Dan Hirsch. Dan.
Thank you all.
First half of 2022 with a pivotal time for Globus medical as financial markets greater than the first half of the year. The company had to survive primarily on cash for.
Speaker 2: Thank you, Ellen. The first half of 2022 was a pivotal time for Kodo's medical as financial markets created in the first half of the year. The company had to survive primarily on cash.
This was accomplished by focusing on the operations of its purpose to diagnostic subsidiary.
Speaker 2: This was accomplished by focusing on the operations of its ProVista Diagnostics subsidiary, where we were able to establish a consistent and growing business in the COVID testing services area.
We are able to establish a consistent and growing business from a COVID-19 testing services area.
Which we have prioritized after negative experiences with certain large CLIA lab reference clients. As a result. This is team has grown from 15 to over 20 employees.
Speaker 2: which we had prioritized after a negative experiences with certain large, clear lab reference clients. As a result, Provisites team has grown from 15 to over 20 employees.
We have now validated and are preparing to launch new diagnostic testing in the areas of urinary tract infection.
Speaker 2: We have now validated and are preparing to launch new diagnostic testing in the areas of urinary tract infection, wound, respiratory panel, gastrointestinal.
Respiratory panel gastrointestinal.
And sexually transmitted infections and now multi parts.
Speaker 2: and sexually transmitted infections and now monkey products. The investment to automate our Clia Cat Lab has allowed us to significantly...
The investment to automate our CLIA cap lab has allowed us to significantly.
Significant capacity leverage with these higher and to offer clients with potential large volume with fast turnaround part.
Speaker 2: significant capacity leverage with each hire and to offer clients the potential of large volume with fast turnaround time.
We are already seeing significant growth in testing a provision and have some exciting growth plans moving forward as Joe will discuss later on this call.
Speaker 2: We are already seeing significant growth and testing at ProVista and have some exciting growth plans moving forward as Gerald will discuss later on this call.
As far as the distribution arm that had previously been driving revenues. We are now formulating a new business model targeting customers that have direct access to patients such as physician.
Speaker 2: As far as the distribution arm that had previously been driving revenues, we are now formulating a new business model targeting customers that have direct access to patients, such as physicians.
We expect to make announcements on this in the near future.
Speaker 2: We expect to make announcements on this in the near future. Our joint venture with NLC Pharma, 3CL Pharma, has established a stable revenue stream of Tolovit sales and a loyal customer base who see the benefits of our Tolovit 3CL Protease inhibitor dietary supplements.
Our joint venture with MLC pharma three C. O pharma has established a stable revenue stream of total <unk> sales and a loyal customer base, who see the benefits of our total <unk> protease inhibitor dietary supplements we.
We have now completed the proof of concept phase through the collection of data from the first 100 patients and our IR be waived market research study for told them, it and acute and long COVID-19.
Speaker 2: We have now completed the proof of concept phase through the collection of data from the first 100 patients in our IRB waived market research study for total of it in acute and long COVID. As a result, we can now begin to market more aggressively sticking to the data that we have gathered as the source material to reference.
As a result, we can now begin to market more aggressively sticking to the data that we have gathered as the source material to reference.
At this time I would like to turn the call over to Gerald our CEO discuss our strategic vision and plans for growth in order to build lasting value for our stockholders moving forward Gerald.
Speaker 2: At this time, I'd like to turn the call over to Gerald, our CEO , to discuss our strategic vision and plans for growth in order to build lasting value for our stockholders moving forward. GERALD
Thank you, Dan and good morning to everyone.
Speaker 3: Thank you, Dan, and good morning to everyone. As we've just outlined, there's been a great deal of progress made at Todos in the first half of 2022, as the potential begins to emerge and the market very recently seems to take notice.
As we've just outlined there has been a great deal of progress made at told US in the first half of 2022 as a potential begins to emerge in the market very recently seem to take notice.
I'm going to go over a roughly eight or nine key items that we've been focused on and we know that shareholders have questions too.
Speaker 3: I'm going to go over roughly eight or nine key items that we've been focused on. And we know that shareholders have questions too, especially some of our new shareholders who've recently joined the company over the last several weeks. And we want to make sure that there's a firm understanding of what the company does and what our future growth plans are.
Especially some of our new shareholders, who recently joined the company over the last several weeks and we want to make sure that theres a firm understanding of what the company does.
What our future growth plans are.
One the toll of your emergency use authorization violet.
Speaker 3: One, the Tolivir emergency use authorization file. As an update, we successfully completed the clinical portion of the clinical trial for phase two in hospitalized COVID-19 patients in the first quarter of 2022. In the second quarter of 2022, we completed the biomarker analysis of that data and confirmed a biomarker.
As an update we successfully completed the clinical portion of.
The clinical trial for phase two in hospitalized COVID-19 patients in the first quarter of 2022 in the second quarter of 2022, we completed the biomarker analysis of that data and confirm a biomarker.
Benefits in addition to the clinical benefits, which we think are quite significant.
Speaker 3: benefits in addition to the clinical benefits which we think are quite significant.
As a reminder, total of year is a is a mixture of botanical extracts.
Speaker 3: As a reminder, Polevere is a mixture of botanical extracts. We have not just using a home brew, but identified the specific compounds within the extract, the actives, that make up the necessary ingredients in order to derive the benefit that we're seeing both clinically and with the biomark.
Have not just using a homebrew, but identified the specific compounds within the extracts the actors that makeup the necessary ingredients in order to derive the benefit that we're seeing both clinically and with the biomarkers with that said.
It is unusual and atypical for botanical derived drugs to be used in this type of setting and really it's a function of.
Speaker 3: With that said, it is unusual and atypical for botanical derived drugs to be used in this type of setting. And really, it's a function of the emergency that we are under that is driving the potential of toluvier in this market area. As a result, we have been making significant efforts
The emergency that we are under that is driving the potential of toll of year in this market area.
As a result.
We have been making significant efforts to characterize and really fill in all of the necessary CMC and manufacturing gaps that will be required from regulatory agencies in order to ultimately approve told here and this has been a significant portion of the delay as we've made progress in the <unk>.
Speaker 3: and really fill in all of the necessary CMC and manufacturing gaps that will be required from regulatory agencies in order to ultimately approve Tolivir. And this has been a significant portion of the delay as we've made progress on the underlying fundamentals under the direction of 3CL Pharma's significant and important leadership, Dr. Dorit Arad, who is making these tremendous discoveries.
Your line fundamentals under the direction of three sell farmers.
Significant and important leadership doctor to read Rod with making these tremendous discoveries.
As a result of that work both in the clinic with the clinical Biomarkers and with the.
Speaker 3: As a result of that work, both in the clinic with the clinical biomarkers and with the fundamental characterization of the CMC that will allow us to deliver a streamlined application to regulatory agencies, we're now much more comfortable that we will be able to submit.
Mental a characterization of the CMC that will allow us to deliver a streamlined application to regulatory agencies. We're now much more comfortable that we will be able to submit and receive authorization to run clinical trials in additional jurisdictions as well as ultimately be able to turn the trials.
Speaker 3: and receive authorization to run clinical trials in additional jurisdictions, as well as ultimately be able to turn the trials that we now have into approvable material.
We now have into them.
Approvable.
Material.
As such we are.
We have completed.
Speaker 3: As such, we are, we have completed the design and are now preparing to implement the extension phase of the Tolivir clinical study where we will enroll up to an additional 46 patients beyond the 20 patients of data that we gathered with the formulation that we intend to go to market with. We expect that along the way we will be able to share data beginning with 10 patients.
The design.
And are now preparing to implement the extension phase of the <unk> clinical study.
Where we will enroll up to an additional 46 patients beyond the 20 patients of data that we gathered with the formulation that we intend to go to market with.
We expect that along the way, we will be able to share data beginning with 10 patients with different regulatory agencies and depending on the need of the regulatory agency we expect.
Speaker 3: with different regulatory agencies and depending on the need of the regulatory agency, we expect
That we will be able to get.
Speaker 3: that we will be able to get either limited or full authorization of Tolivir in that hospital market.
Either limited or full authorization of total of your in that hospital market.
As we embark on this next phase.
Speaker 3: Again, as we embark on this next phase, we expect that that first 10 patients and the submission will be able to go in in the fourth quarter of this year. And we will be very busy over the next several months in preparation for that filing, completing characterization and certain additional studies as recommended by our regulatory advisors to give ourselves the greatest opportunity to have a successful.
We expect that that first 10 patients in the submission will be able to go in the fourth quarter of this year and we will be very busy over the next several months in preparation for that filing.
Completing characterization and certain additional studies as recommended by our regulatory advisors to give ourselves the greatest opportunity to have a successful.
Interaction with regulatory agencies, including the U S FDA.
Speaker 3: interaction with regulatory agencies including the US FDA.
One important note as it relates to total of your last year in November we announced a partnership in Europe with a company.
Speaker 3: One important note as it relates to Tola Vier, last year in November , we announced a partnership in Europe with a company called T-SALP Protect that was supposed to deliver investment and regulatory assistance. We established a regulatory framework built around Greece that would accelerate work in Israel and ultimately lead to lock-on effects throughout Europe and other areas. After...
Called T cell protect that was supposed to deliver investment.
And regulatory assistance, we established a regulatory framework.
Built around Greece that would accelerate work in Israel, and ultimately lead to lock on effects throughout Europe and other areas after careful consideration.
And after extended negotiations and look net alternatives based upon the increased profile of the positive total of your phase II data as well as the successful efforts that we've made in long COVID-19.
Speaker 3: and after extended negotiations and look at that alternatives based upon the increased profile of the positive Tolivier phase two data as well as the successful efforts that we've made in Long COVID, we have decided to terminate that agreement with T cell protect, retake the right.
<unk> decided to terminate.
That agreement with T cell protect retake the rights.
For the total of your total of it until the test programs and we have identified and are completing the negotiations with seasoned leadership based in Europe , who have relationships with local distribution partners.
Speaker 3: for the Tolivir, Tolovid and Tolitest programs. And we have identified and are completing the negotiations with seasoned leadership based in Europe who have relationships with local distribution partners.
Who can effectively launch toll of it in different European jurisdictions as it is very much a fragmented market that we think a single company from Greece may not ultimately have been successful and penetrated.
Speaker 3: who can effectively launch, to all of it, indifferent European jurisdictions, as it is very much a fragmented market, that we think a single company from Greece may not ultimately have been successful in penetrating.
With this significant shift we do expect to make announcements on that leadership change.
Speaker 3: With this significant shift, we do expect to make announcements on that leadership change in Europe in the weeks ahead. Very soon, potentially in the next few days. And we expect that that will allow us to make announcements on that.
In Europe .
In the weeks ahead.
Very soon potentially in the next few days.
We expect that that will allow us.
To really begin to drive value and engage more closely with our European customers. As we do know that about 15, one 5% of our business is international and of that 15% Thats International for toll of it approximately 80% is in Europe with the largest markets being in.
Speaker 3: to really begin to drive value and engage more closely with our European customers. As we do know that about 15.15% of our business is international and of that 15% that's international for Tolovid approximately 80% is in Europe with the largest markets being in the UK.
The U K.
So for us.
We think that that is an important development. We know many shareholders have been asking about that and we think that retaking the rights.
Speaker 3: We think that that is an important development. We know many shareholders have been asking about that. And we think that retaking the rights really will give us an opportunity to partner in a more robust manner and begin to deliver for the customers and for our shareholders in Europe .
Really will give us an opportunity to partner in a more robust manner.
And begin to deliver for the customers and for our shareholders in Europe .
With that now.
Now in.
Speaker 3: With that now in place, the next thing, of course, is our strategic plans as it relates to Israel. With regards to Israel, we are making substantial progress. With regards to TOLVID, the team on the ground is advancing interactions with regulatory bodies in Europe ultimately.
In place. The next thing of course is our strategic plans as it relates to Israel with regards to Israel.
We are making substantial progress.
With regards to <unk> the team on the ground.
Is advancing interactions with regulatory bodies in Europe to ultimately.
And get approval to launch <unk> in Israel.
Speaker 3: get approval to launch Tolovid in Israel.
And we think we're very close to that Mark. Additionally.
Speaker 3: And we think we're very close to that mark. Additionally,
For the total year program.
Speaker 3: for the Colevere program after the biomarker data.
After the biomarker data.
And after consideration of the possibilities there may be opportunities without.
Speaker 3: and after consideration of the possibilities, there may be opportunities without a Greek approval, without a European approval to get a direct...
Greek approval without the European approval to get a direct label in <unk>.
Israel for total of year and.
Speaker 3: label in Israel for Pollivier. And we are looking at ways to accelerate that possibility based upon the data that we are gathering in Israel in parallel with looking at the U.S. regulatory agencies, and which is the FDA and obviously also the European medicine agents.
And we are looking at ways to accelerate that possibility based upon the data that we're gathering in Israel in parallel with looking at the U S regulatory agencies.
Which is the FDA then obviously also the European Medicines agency.
So that's really the update with regard to total of year and we expect that there is going to be news.
Speaker 3: So that's really the update with regards to Tollivier. And we expect that there is going to be news that we will be able to share in the market very soon with regards to opening the enrollment of that extension phase as well as certain regulatory fileings that we expect to be coming up as progress on the CMC manufacturing details.
That we will be able to share in the market very soon with regards to opening the enrollment of that extension fees as well as.
Certain regulatory filings that we expect to be coming up.
As progress on the CMC manufacturing.
Details.
To allow for successful a regulatory submission become clearer.
Speaker 3: to allow for successful regulatory submission, but don't clear.
Okay.
Moving on to the next major question that we received from shareholders.
Speaker 3: Moving on to the next major question that we received from shareholders, the debt of the company, which we want to make sure that we address. The vast majority of the debt on the company's balance sheet, which is the crossover around the financing led by YOSMA, which is a Korean venture capital group, that all converts at a price of $0.4792.
The debt of the company.
Which we want to make sure that we address.
The vast majority of the debt on the company's balance sheet, which is the crossover round of financing led by <unk>, which is a Korean venture capital group.
That all converge at a price of 4.7 <unk>.
<unk> <unk> per share.
So recently as recently as last night, there has been a concern.
Speaker 3: So recently, as recently as last night, there's been a concern that, you know, because of a potential dilution risk of the company that we would dilute the shares at a per share price lower than that number and ultimately reset all of the debt to a lower price.
<unk>.
Because.
The potential.
Dilution risk of the company that we would dilute.
The shares at a per share price lower than that number and ultimately reset all of the debt to a lower price.
While that was certainly at the end of the second quarter, a significant risk and it does remain a risk that shareholders. Obviously must consider we have not raised money below that $4 790, <unk> per share price and as a result, none of those instruments have re.
Speaker 3: While that was certainly at the end of the second quarter a significant risk, and it does remain a risk that shareholders obviously must consider, we have not raised money below that 4.792 cent per share price. And as a result, none of those instruments have reset their price.
Set their pricing.
So while this is a risk and we did note that risk in the 10-Q filing that has not happened as of yet and that is the reason that there is a range of shares that could become issuable upon conversion and on the worst end of that second quarter price.
Speaker 3: So while this is a risk, and we did note that risk in the 10Q filing, that has not happened as of yet, and that is the reason that there is a range of shares that could become issueable upon conversion. And on the conclude, and, close agreement, it is unclear what happened in the Feighteroud or
Speaker 3: worst end of that second quarter pricing, that could have been the fact at that point. However, right now that has not happened and that has not changed, and we are focused on continuing to build value of the company and hopefully we can exceed that price per share very soon, at which point that will no longer be a concern for our shareholders.
And that could have been.
The fact that that point however.
Right now that has not happened and that has not changed and we are focused on continuing to build value of the company and hopefully we can exceed that price per share very soon.
At which point that will no longer be a concern for <unk>.
Our shareholders.
Following on with that.
Speaker 3: Following on with that, we have the question of a reverse split because we recently filed a proxy. And I want to make sure that we address that. The reverse split has been a part of our plan for the past two years. And we've been waiting for the right time, which is a mixture of milestones.
We have the question of a reverse split because we recently filed a proxy.
And I want to make sure that we address that the reverse split has been a part of our plan for the past two years.
And we've been waiting for the right time, which is a mixture of milestones.
Runway.
Value in the market and future prospects in order to effect, a reverse split and our target ratio at the current time remains one for 10.
Speaker 3: value in the market and future prospects in order to affect a reverse split. And our target ratio at the current time remains 1 for 10. We will only update
We will only update.
And in fact, a reverse split in conjunction with a listing on a national exchange and when we feel we have sufficient catalyst on the other side of a reverse split to drive value at the current time, we are not doing a reverse split.
Speaker 3: and affect the reverse split in conjunction with a listing on a national exchange. And when we feel we have sufficient catalysts on the other side of a reverse split to drive value. At the current time, we are not doing a reverse split. The reason why the ratio of the reverse split was put in as one for two to one for 500 is simply because that was the ratio that was authorized last year.
The reason why the ratio of the reverse split was put in as one or two to one for 500 is simply because that was the ratio that was authorized last year.
And we were in negotiations with an underwriter.
Speaker 3: And we were in negotiations with an underwriter with whom we filed an S1 on July 28 that is seen by the public.
With whom we filed an S. One on July 28 that is seen by the public.
And that underwriter did require that we put the necessary pieces in place to be able to do an uplift and so that if we do achieve the catalysts and the timing and Halo that we think is required to have a successful uplifting that we would be positioned to do that and not have to wait.
Speaker 3: And that underwriter did require that we put the necessary piece in place to be able to do an uplifting.
Speaker 3: So that if we do achieve the catalyst and the timing and halo that we think is required to have a successful uplifting that we would be positioned to do that and not have to wait.
On a new filing because as we all know opportunities in the stock market, especially on the OTC markets are rare.
Speaker 3: on a new filing because, you know, as we all know, opportunities in the stock market, especially on the OTC markets are rare.
And when the stars align you need to be able to capitalize which would be to the benefit of shareholders.
Speaker 3: And when the stars align, you need to be able to capitalize, which would be to the benefit of shareholders.
As a result.
We just extended what was done last year, we thought that was the most prudent course of action because we couldn't come up with a rationale for a different ratio.
Speaker 3: As a result, we just extended what was done last year. We thought that was the most prudent course of action because we could come up with a rationale for a different ratio. And we thank shareholders for their understanding in terms of how we came to that conclusion and what our plans are. We believe we've proven that we will not effect a reverse split under the wrong conditions.
We thank shareholders for their understanding in terms of how we came to that conclusion and what our plans are we believe we've proven that we will not affect a reverse split.
Under the wrong conditions, and we believe we have tremendous value to continue to create here.
Speaker 3: And we believe we have tremendous value to continue to create here on the OTC markets, and we will be looking to continue executing. And hopefully the market rewards us with.
Here on the OTC markets, and we will be looking to continue.
Executing and hopefully the market rewards us with.
<unk>.
Continued value increase overtime.
Okay.
Okay.
With that said.
We do believe we have multiple catalysts coming up in the near future and Thats, what we intend to focus on for.
Speaker 3: With that said, we do believe we have multiple catalysts coming up in the near future, and that's what we intend to focus on for the rest of this call.
For the rest of this call.
The next major question I get asked is related to revenue.
Speaker 3: The next major question I get asked is related to revenue.
And revenue projections.
In previous calls we've indicated that we could see revenue.
Speaker 3: and revenue projections. In previous calls, we've indicated that we could see revenue in the eight figures, low eight figures anywhere between 20 to 30 million in revenue for the year. To date, we have revenue just over $4.5 million. And so many have questioned, you know, whether or not that is still possible. Our position is that it very much remains possible because of the history of the type of testing revenue that we generate.
The eight figures.
Low eight figures anywhere between 20% to $30 million in revenue for the year to date, we have revenue of just over $4 $5 million and so many have questioned whether or not that is still possible. Our position is that it very much remains possible because of the history.
Of the type of testing revenue that we generate.
If you look not only at <unk> medical but you look at virtually all other PCR testing labs for the last two years, the fourth quarter has been the quarter in which virtually all of the revenues have been generated.
Speaker 3: If you look not only at Todos Medical, but you look at virtually all other PCR testing labs for the last two years, the fourth quarter has been the quarter in which virtually all the revenues have been generated. I'm sure we all remember the significant COVID surges that happened over the last couple of years between Thanksgiving and the holiday season. And this is driven not only by new variants,
I'm sure we all remember.
The significant COVID-19 surges that happened.
Over the last couple of years between Thanksgiving and the holiday season.
And this is driven not only by new variants.
But by an increased amount of travel to see family and a desire to not bring home Covid two family members during that period.
Speaker 3: but by an increased amount of travel to see family and a desire to not bring home COVID to family members during that period.
While it's become clear that people are beginning to be more comfortable in how they interact with COVID-19.
Speaker 3: while it's become clear that people are beginning to be more comfortable in how they interact with COVID-19.
And that the political wins are shifting to want to cause people to quote unquote live with Covid.
Speaker 3: and that the political winds are shifting to want to cause people to quote unquote live with COVID. We believe that the desire to not infect family members remains high.
We believe that the desire to not infect family members remains high.
So that even if you're open to infecting strangers our coworkers.
Speaker 3: so that even if you're open to infecting strangers or coworkers, which obviously we disagree with, but does happen, the desire to protect vulnerable family members, especially the elderly, is especially high. And so the potential for significant revenue in the fourth quarter around a surge in the holiday season remains possible. However, we cannot provide guidance to that effect. It remains a distinct possibility.
Obviously, we disagree with but does happen the desire to protect the vulnerable family members, especially the elderly.
Is especially high and so the potential for significant revenue in the fourth quarter around a surge in the holiday season remains possible.
However, we cannot provide guidance to that effect.
It remains a distinct possibility.
With that said in previous years, we were well positioned to support other labs.
Speaker 3: With that said, in previous years, we were well positioned to support other labs.
And that is the basis for the significant revenue generated in Q4 and Q1s over the last couple of years.
Speaker 3: And that is the basis for the significant revenue generated in Q4s and Q1s in the last couple of years. Our ability to deliver for other labs and those labs making between 5 and 10X what we make on those sales of testing services and COVID.
Our ability to deliver four other labs and those labs, making between five and 10 X what we make on this.
Those sales of testing services in Covid.
This is in large part the reason why we focused on transitioning from delivering third party reagents to other labs to in fact ourselves being the labs, because we've seen directly the impact that COVID-19 tests, we can have on the balance sheet. The tremendous revenue we can generate in <unk>.
Speaker 3: This is in large part the reason why we focused on transitioning from delivering third party reagents to other labs to in fact ourselves being the labs because we've seen directly the impact.
Speaker 3: that COVID tests we can have on the balance in the tremendous revenue it can generate. And in fact, this is part of the cause of why we got out of that business. As soon as we made some of those last significant amounts of money, they had alternatives beyond us. And this is why we are now in litigation with several of them trying to recover unpaid expenses.
In fact as part of the cause of why we got out of that business as soon as we made some of those lost significant amounts of money. They had alternatives beyond us and this is why we are now in litigation with several of them trying to recover unpaid expenses.
Because they thought they could cramps down.
Speaker 3: because they thought they could cram us down. We understand that process. It was quite a learning experience. With that said, we now operate our own lab and we repossessed and positioned the automation that we delivered to those other labs into provista and provista is now capable of running significant volumes up to 25,000 tests per day with a view towards moving to 50,000 tests.
We understand that process. It was quite a learning experience with that said, we now operate our own lab and we've re <unk>.
<unk> and position the automation that we deliver to those other labs into <unk> and <unk> is now capable of running significant volumes up 25000 tests per day with a view towards moving to 50000 tests just to make sure that everyone understands the economics.
Speaker 3: just to make sure that everyone understands the economics. COVID tests are reimbursed at a rate of $100 per test if you give fast turnaround within 48 hours.
Covid tests are reimbursed at a rate of $100 per test if you give fast turnaround within 48 hours.
So during Covid surges, when we were delivering up to 10 or 15000 tests per day to clients those clients, we're making between $1 million and $1 million and $5 in revenue per day.
Speaker 3: So during COVID surges, when we were delivering up to 10 or 15,000 tests per day to clients, those clients were making between a million and a million and a half dollars in revenue per day.
And Thats why we continue to believe that despite the drop in Covid testing and some of the changes that the fourth quarter does remain.
Speaker 3: And that's why we continue to believe that despite the drop in COVID testing and some of the changes that the fourth quarter does remain of potential significant revenue opportunity for us. And we are now very well positioned to capture the full opportunity as we move forward. So while we're not providing guidance that we're going to hit that 20 to 30 million dollar bogey that does remain a distinct possibility.
Potential significant revenue opportunity for us and we are now.
<unk> well positioned to capture the full opportunity as we move forward. So while we're not providing guidance that we're going to hit that 20% to $30 million bogie that does remain a distinct possibility.
Beyond.
Speaker 3: Beyond COVID testing revenue, we have made significant efforts to diversify our revenue base.
Covid testing revenue.
We have made significant efforts to diversify our revenue base.
Under the direction of Dr. Felipe Guo our Chief commercial officer at Pro Vista, and we have since validated multiple PCR tests and identified a niche market.
Speaker 3: under the direction of Dr. Philippe Gua, or Chief Commercial Officer at ProVista. And we have since validated multiple PCR tests and identified a niche market that has underserved, that has significant patient flow to be able to drive revenue.
That is underserved that has significant patient flow to be able to drive revenues. We have not forecast and are currently not forecasting any revenue between now and the end of the year for that business unit, because we do not want to put significant pressure on it. However, we do believe that there is significant upside potential as we already have customers.
Speaker 3: We have not forecast and are currently not forecasting any revenue between now and the end of the year for that business unit because we do not want to put significant pressure on it. However, we do believe that there is significant upside potential as we already have customers that we are serving. Those customers have completed the initial delivery of tests and have received the fast turnaround and
We are serving those customers have completed.
The initial delivery of tests.
And have received the fast turnaround and.
The actionable information to change their prescribing habits.
In the skilled nursing facility setting.
And we believe that this is now in a position to scale with the reimbursement.
For UTI alone being closer to the $800 range.
As compared with the $100 range for Covid.
As we add beyond UTI.
We add wound.
The respiratory panel, which will be conducted in conjunction with Covid of course.
Speaker 3: The respiratory panel which will be conducted in conjunction with COVID of course.
Our gastrointestinal panel and sexually transmitted infection panel, we believe there is significant opportunity and one of the things that we've done.
Speaker 3: our gastrointestinal panel and the sexually transmitted infection panel, we believe there's significant opportunity. And one of the things that we've done that is unique, of course, is now the validation of monkeypox, which can be added to the SARS-CoV-2, to our UTI, our wound, and our STI and respiratory pain.
That is unique of course is now the validation of monkey pox, which can be added to the Sars cov two.
Two our UTI our wound.
And our STI and respiratory panels and this will provide a unique advantage for our pro Vista in winning contracts as compared to other labs that do not have the.
Speaker 3: And this will provide a unique advantage for ProVista in winning contracts as compared to other labs that do not have the monkeypox testing capabilities that we have. So we do think that monkeypox is a good thing.
The monkey pox testing capabilities that we have.
So we do think that.
Monkey pox.
Availability is a key selling tool.
Speaker 3: Availability is a key selling tool. As we all know that if there's a monkey pots outbreak, we have already heard that there are significant challenges in gaining testing. And I'll talk more about that monkey pots opportunity towards the end of the call as we've already has just a tremendous response and some very unusual findings in the first couple of days of that product launch.
As we all know that if theres a monkey pox outbreak, we have already heard that there are significant challenges in gaining testing and I'll talk more about that monkey pox opportunity towards the end of the call is we've already had.
Just some tremendous response and some very unusual findings in the first couple of days.
<unk>.
That product launch.
Additionally, with regards to revenue.
Speaker 3: Additionally, with regards to revenue.
We also have.
Haven't really been providing guidance on our <unk> brand.
Speaker 3: We also haven't really been providing guidance on our Tolivid brand, but that brand is making substantial progress, has normalized sales much higher than in this.
But that brand is making substantial progress has normalized sales much higher than in the second half of 2021.
Speaker 3: second half of 2021, or the early part of 2022. And we have now completed several qualitative steps that we felt were important in order to be able to drive 12-odd revis.
Or the early part of 2022.
And we have now completed several qualitative steps that we felt were important in order to be able to drive total <unk> revenues.
First and foremost it's important to remind everyone that all of it as a dietary supplement is not approved to diagnose treat prevent or cure any disease, including COVID-19 or long COVID-19.
Speaker 3: First and foremost, it's important to remind everyone that toll of it is a dietary supplement is not approved to diagnose, treat, prevent, or cure any disease, including COVID or long COVID. Our scientific founder of 3CEL Pharma, Dr. Dorita Rod, is a pioneer in the area of 3CEL protease and 3CEL protease inhibitors. And we have leveraged just her tremendous expertise to gain a foothold into that market.
Our scientific founder.
<unk> founder of three sell pharma Dr. Davita Rod is a pioneer in the area of three cell protease is resale protease inhibitors, and we have leveraged just tremendous expertise to gain a foothold into that marketplace.
With that said.
Speaker 3: With that said, the result
The results that customers have seen as a result of using toll of it in multiple settings.
Speaker 3: that customers have seen as a result of using tole of it in multiple settings, where 3-CL protease is significant, have been nothing short of tremendous beyond what we could have expected and hoped for when we opened, certain research avenues.
We're three cell protease is significant.
Have been nothing short of a tremendous.
Beyond what we could have expected and hoped for when we opened.
Certain research avenues and with the data that we've generated through our IRB wave study as was the case study series, where we have already.
Speaker 3: And with the data that we've generated through our IRB wave study, as well as the case study series, where we have already announced or posted on ResearchGate outcomes.
Announced.
Posted on research gate.
Outcomes.
With certain biomarkers associated from patients who have either acute COVID-19 along COVID-19.
Speaker 3: with certain biomarkers associated from patients who have either acute COVID or long COVID, really gives us confidence that we have something that is having a benefit.
Really gives us confidence that.
We have something that is having a benefit.
One of the things that's important for us as we prepare to.
Speaker 3: One of the things that's important for us as we prepare to accelerate marketing is to stay outside of areas where there are approved licensed drugs.
<unk> accelerated marketing is to stay outside of areas, where there are approved licensed drugs, we think that competing directly with pharmaceutical interventions is unlikely to yield positive outcome with the FTC.
Speaker 3: We think that competing directly with pharmaceutical interventions is unlikely to yield a positive outcome with the FTC or other regulatory agencies in the government, especially because they are heavily promoting the use of Paxlevit, which is Pfizer's 3CL protease inhibitor in drug Canes.
Other regulatory agencies and the government.
Especially because they are heavily promoted the use of tax limit, which is pfizer's III cell protease inhibitor drug candidate as a result of that all of our marketing efforts are going to be outside of areas where.
Speaker 3: As a result of that, all of our marketing efforts are going to be outside of areas where PACS Limit is authorized.
<unk> is authorized.
Which currently is in vulnerable compromised populations that are unvaccinated.
Speaker 3: which currently is in vulnerable, compromised populations that are unvaccinated.
So everything outside of that population is an area, where we think we can market.
Speaker 3: So everything outside of that population is an area where we think we can market. We also think we can market around certain negative aspects associated with passivid where we can potentially support individuals who are having a negative experience such as passivid rebound.
We also think we can market.
Around certain.
Negative aspect associated with past of it where we can potentially support individuals.
Who are having a negative experience such as passive it rebounds.
So those are areas, where we gather data where we can point to either case studies or market research data and where we can formulate marketing plans that do not cross.
Speaker 3: So those are areas where we've gathered data, where we can point to either case studies or market research data, and where we can formulate marketing plans that do not cross.
With <unk>.
FDA <unk> FTC guidelines or CDC recommendations.
Speaker 3: with FDA and or FTC guidelines or CDC recommendations.
So that is going to be the focus of our marketing firm.
Speaker 3: And so that is going to be the focus of remarketing firm.
That we recently hired.
Speaker 3: that we recently hired called Think Fuel, who has a tremendous track record in digital marketing. And we are now leveraging them to really drive our messaging. And we expect that we'll start to see the results.
I think fuel who has a tremendous track record in digital marketing.
And we.
Are now leveraging them.
It's really drive our messaging.
We expect that we will start to see the results from some of the work in the weeks ahead as we just hired them and we had our kickoff meeting early last week for total of it now that we have this data.
Speaker 3: from some of the work in the weeks ahead, as we just hired them and we had our kickoff meeting early last week for Tolivit now that we have.
We also are opening up wholesale distribution channels.
Speaker 3: We also are opening up wholesale distribution channels. We've recently made significant connections with functional medicine groups that are seeing patients that are looking for supplement solutions to assist them with their long COVID symptoms. We now have one of the key opinion leaders from that community was completed. We did.
Recently.
Made significant connections with functional medicine groups.
We're seeing patients that are looking for supplement solutions to assist them with their long COVID-19 symptoms. We now have one of the key opinion leaders from that community who has completed their.
There test with toll of it and has now ordered and paid for their first wholesale order.
Speaker 3: their test with Toilet Vid and has now ordered and paid for their first wholesale order.
And we have several others based upon that recommendation that are now going through that process.
Speaker 3: And we have several others based upon that recommendation that are now going through that process. And we have several one COVID-19.
And we have several won't Kobe clinics.
Whose physicians.
Speaker 3: whose physicians are either in process or have completed the trial phase with toll of it and some of their patients and are now beginning to order. So we're starting to see a more medically oriented customer base.
Are either in process or have completed the trial phase.
All of it in some of their patients and are now beginning to order. So we're starting to see a.
A more medically oriented customer base.
Use total of it.
Speaker 3: used whole of it and experienced benefit in a long COVID setting. And we think that this is the right direction.
And experienced benefit and a long COVID-19 setting and we think that this is the right direction for toll of it to be marketed as we move forward.
Speaker 3: for our toll of it to be marketed as we move forward. One of the big challenges, of course, of long COVID in general is that there are no approved drugs. So this fits in well with our marketing strategy.
One of the big challenges of course.
Long Covid in general is that there are no approved drugs. So this fits in well with our marketing strategy.
Coupled with the fact that there are no approved drugs virtually 100% of long COVID-19 patients rely on supplements to manage their symptoms as a result.
Speaker 3: Coupled with the fact that there are no approved drugs, virtually 100% of long COVID patients rely on supplements to manage their symptoms. As a result, Tolovitz fits right in line with what they're currently doing, and most long COVID physicians also recommend stuff.
Total of it fits right in line with what they're currently doing and most long Covid physicians also recommend supplements. So we are hopeful that toll or it can quickly become the standard of care as a supplement in the lung cobot market and we will continue to evangelize told of it and to drive interest in toll of it not only <unk>.
Speaker 3: So we are hopeful that Tolivit can quickly become the standard of care as a supplement in the long COVID market and we will continue to evangelize Tolivit and to drive interest in Tolivit not only now through research, our case study series, our IRB wave study, which we will continue to gather data from, as well as our prospective phase two safety and efficacy clinical trial that we're preparing to start later on this quarter.
Now through research.
Our case study series, our IRB weight study, which we will continue to gather data from as well as our prospective phase III safety and efficacy clinical trial that we are preparing to start later on this quarter.
But <unk>.
Importantly, we also think that we can now.
Speaker 3: Importantly, we also think that we can now drive Poland's sales really based upon word of mouth and the tremendous social media.
Drive toll of its sales really.
Based upon the word of mouth.
And the tremendous social media.
Reputation that's all of it is starting to develop thats one of the key supplements that is helping people.
Speaker 3: reputation that all of it is starting to develop. That's one of the key supplements that is helping people.
We know that many long COVID-19 patients or on social media. That's one of the only ways. They can have social interaction because they are unable to leave their homes and as a result meat, reaching them, where they are is something thats important.
Speaker 3: We know that many long COVID patients are on social media. That's one of the only ways they can have social interaction because they're unable to leave their homes. And as a result, reaching them where they are is something that's important.
For us to do.
Speaker 3: for us to do because unfortunately, long COVID patients are not in a good place and we have to go to them as a result of that.
Unfortunately, along COVID-19 patients are not in a good place and we have to go to them as a result of that.
Yes.
We also beyond just dealing with the medical community and social media.
Speaker 3: We also, beyond just dealing with the medical community and social media relationships, we have established an affiliate program.
Relationships.
We have established an affiliate program.
That includes of course, the physician in local clinics, but we also now have several influencers that have expressed an interest in total of it.
Speaker 3: That includes, of course, the physician in Long Colby clinics, but we also now have several influencers.
Speaker 3: that have expressed an interest in total of it. That can be either in the setting of long COVID or as one of them has put it as a quote-unquote party drug. Obviously, total of it is not a drug, but it is being used by healthy people to hopefully reduce 3-CL protease contact if they come in contact with the 3-CL protease.
That can be either in the setting of long COVID-19 or as one of them is put it as a quote unquote party drug obviously told it is not a drug but it is being used by healthy people to hopefully.
Reduced III seal protease content, if they come in contact with the three cell protease.
And many people seem to be having success in that setting.
Speaker 3: And many people seem to be having success in that setting. And so based upon that marketing slogan, it does appear that there is an additional market that we can go after of health your people who are not sick that are just looking for additional immune support in the face of what's going on.
So based upon that marketing slogan.
It does appear that there is an additional market that we can go after a healthier people. We're not sick that are just looking for additional immune support in the face of what's going on.
So that is really where we're going with our revenue around toll of it.
Speaker 3: So that is really where we're going with our revenue around Tolovid, and now with regards to corona diagnostics.
And now with regards to Corona diagnostics.
Which is the third leg in the stool for Vista toll of it and now Corona. Our strategy is to target physician owned labs, who are looking to get into the molecular testing space and be able to do small volume for their patients right onsite.
Speaker 3: which is the third leg in the stool, ProVista, Tolovid, and now corona. Our strategy is to target physician-owned labs.
Speaker 3: who are looking to get into the molecular testing space and be able to do small volume for their patients right on site.
And deploying a hub and spoke model, having those physicians, who buy materials and reagents and supplies from us and the distribution partner that we're currently in discussions with to deploy to those physicians.
Speaker 3: and deploying a hub and spoke model, having those physicians who buy materials and reagents and supplies from us and the distribution partner that we're currently in discussions with to deploy to those physicians.
We would provide the back in support of the reagents as well as the training for the physicians to be able to run the small volume tests, we would have the hub of <unk>, where there are larger volumes has a more complicated test would be sent to us. So this is also a marketing tool for <unk>.
Speaker 3: We would provide the back and support of the reagents as well as the training for the physicians to be able to run those small volume tests. We would have the hub of ProVista where their larger volume tests and more complicated tests would be sent to us.
Speaker 3: So this is also a marketing tool for ProVista and allows the physicians to offer a broader suite of tests, faster turnaround time, and greater service.
And allows the physicians to offer a broader suite of tests faster turnaround time and greater service for their patients.
With.
Speaker 3: with an expectation that there's going to be a significant increase in diagnostics in the year that had as a result of COVID leaving a trail of side effects.
And expectation that there's going to be a significant increase in diagnostics in the years ahead as a result of Covid, leaving a trail of.
The side effects.
And accelerating the pathogenesis of a number of diseases, we believe including cancer and also <unk>.
Speaker 3: And accelerating the pathogenesis of a number of diseases, we believe, including cancer and Alzheimer's, we think it's going to become paramount to have new screening methods.
We think it's going to become Paramount.
Have new screening methods.
Including cardiovascular screening methods to identify patients who are at risk and look for potential interventions that can reduce the risk and lower the likelihood that a patient transfer from healthy to unhealthy.
Speaker 3: including party of asters screening methods to identify patients who are at risk and look for potential interventions that can reduce the risk and lower the likelihood that a patient transfers from healthy to unhealthy by early diagnosis and early intervention. Thank you.
By early diagnosis and early intervention.
Now I do just want to touch.
<unk> on the.
<unk>.
Speaker 3: briefly on the long COVID efforts that we made because they have been quite significant and quite public. What we're looking to do is really establish.
Long COVID-19.
Efforts that we've made.
Because they have been quite significant and quite public.
What we're looking to do is really established totals.
Speaker 3: of Todos subsidiary 3CL Pharma as the leader in long COVID. Obviously, having a supplement.
<unk> pharma as the leader in long Covid.
Obviously, having a supplement that seems to help.
Majority as long as Covid patients is very helpful. In terms of positioning us in that way.
Speaker 3: majority of long COVID patients is very helpful in terms of positioning us.
But there are other things that also will be helpful, especially as we begin to profile patients and look at their immune systems not just within the context of COVID-19 or long COVID-19, but of human health.
Speaker 3: But there are other things that also will be helpful, especially as we begin to profile patients and look at their immune systems, not just with the context of COVID or long COVID, but of human health.
Because.
As society opens up and people interact and many other diseases that will begin to impact people and the integrity of the immune system. As you face. These other diseases is becoming critical story that is not being told.
Speaker 3: because as society opens up in people interact, many other diseases will begin to impact people. And the integrity of the immune system that you face these other diseases is becoming critical story that is not being told. And we think that there could be significant risks that people do not understand that they're taking as a result of reinfection.
And we think that there could be significant.
Risks that people do not understand that theyre, taking as a result of reinfection.
So that is the main reason.
Speaker 3: So that is the main reason in both the wall and the acute COVID setting, why we partnered with Amerimune.
And both the long and the acute COVID-19 setting why we partnered with <unk>.
A leader in the area of immune diagnostics in the United States. Because this will allow us to create profiles of patients and begin to think outside the box.
Speaker 3: a leader in the area of immune diagnostics in the United States, because this will allow us to create profiles of patients and begin to think outside the box.
Not just about having COVID-19 or not having COVID-19 is not just about having long COVID-19 and not having long COVID-19, it's about having an intact immune system that has the ability to Mount defense against other pathogens and maintain its integrity over time. So you can live a long healthy life, we think.
Speaker 3: It's not just about having COVID or not having COVID. It's not just about having long COVID and not having long COVID. It's about having an intact immune system that has the ability to mount defense against other pathogens and maintain its integrity over time so you can live a long, healthy life.
The Covid pandemic and long Covid have really shed unimportant late on the immune system and it's for agility.
Speaker 3: We think that the COVID pandemic and long COVID have really shed an important light on the immune system and its fragility.
And now it's incumbent that people take a closer look at their immune systems and really look to fortify.
Speaker 3: And now it's incumbent that people take a closer look at their immune systems and really look to fortify.
Their immune system.
Speaker 3: their immune system first by understanding where they may have weak.
First by understanding where they may have weaknesses.
And that is really the effort that we are pushing forward because ultimately tow dose is not just about one COVID-19, we have prepared proprietary diagnostics in the area of cancer screening.
Speaker 3: And that is really the effort that we are pushing forward because ultimately, TOTOS is not just about long COVID. We have prepared proprietary diagnostics in the area of cancer screening.
And in the area of all Cymer screening and we think that our efforts in COVID-19 and long COVID-19 being able to establish a strong patient population will ultimately give us access to customers.
Speaker 3: and an area of Alzheimer's screening. And we think that our efforts in COVID and long COVID, being able to establish a strong patient population will ultimately give us access to customers that will be interested in monitoring for early diagnosis of cancer and Alzheimer's.
That would be interested in monitoring for early diagnosis of cancer and Alzheimer's so that they may do something potentially over time and intervene.
Speaker 3: so that they may do something potentially over time and intervene.
So this is a very synergistic strategy in terms of monitoring the immune system that.
Speaker 3: So this is a very synergistic strategy in terms of monitoring the immune system that we think is not only gonna yield dividends in the pandemic or quote unquote endemic phase of COVID, but we'll also yield benefit for the longer term strategy of totals around cancer and Alzheimer's.
That we think is not only going to yield dividends in the pandemics or quote unquote endemic phase of Covid.
But will also yield benefit for the longer term strategy of totals around cancer and Alzheimer's screening.
And speaking of our of our cancer panel. We have now collected 40 samples from our clinical trial that initiated in Mexico that.
Speaker 3: And speaking of our of our cancer panel, we have now collected 40 samples.
Speaker 3: from a clinical trial that initiated in Mexico, that the Mexican government is running, has a general breast cancer study. We were lucky enough through our chief medical officer of infectious disease, non-cology, Dr. Jorge Leone, get access to that study and begin to gather samples of women with breast cancer.
Mexican government is running has a general breast cancer study.
Lucky enough through our.
Chief Medical officer of infectious disease, and oncology, Dr. Jorge we own get access to that study and begin together samples of women with breast cancer.
So that we can.
Speaker 3: so that we can ultimately use those samples in the data to complete the clear revalidation and launch.
Ultimately use those samples in the data to complete the clear re validation and launch.
Our laboratory developed.
Speaker 3: of our laboratory developed by desa blood test in 2023. We intend to gather up to 750 samples, but we don't need that many to launch.
By desk, the blood test in 2023.
We intend to gather up to 750 samples.
But we don't need that many to launch and currently Dr. Guar at.
Speaker 3: and currently Dr. Gua at Provista and Dr. Leon are harmonizing their strategy to be able to bring Videsa to the market in the most effective way over the next year.
I had promised and Dr. Lee one are harmonizing their strategy to be able to bring <unk> to the market in the most effective way over the next year.
And we expect that updates on that.
Speaker 3: and we expect to have updates on that in the reasonably near future.
In the reasonably near future.
Okay.
Okay.
As another note we have made some hires.
Speaker 3: As another note, we have made some hires on a part-time basis with regards to research, grant writing, as well as through publications. And so we are going to be going after non-diluted funding in a pretty robust manner, especially now that we have data in long COVID. One of the things that we think separates us from many other groups that are talking about long COVID is we have a product.
On a part time basis with regards to research.
Grant writing.
As well as through publications.
And so we are going to be going after non dilutive funding at a pretty robust manner, especially now that we have data in long COVID-19 one of the things that we think separates us from many other groups that are talking about one COVID-19 is we have a product.
On the market with.
With significant safety data.
Speaker 3: on the market with significant safety data, a clinical trial that is planned, sites that are ready to move forward, and a protocol that is ready to submit the IRB so that we can gain authorization to start. We think this is the ideal time.
Our clinical trial that is planned.
Site that are ready to move forward and a protocol that is ready to submit the IRB. So that we can gain authorization start we think this is the ideal time.
To be able to attract grant funding for long Covid and we will be engaged in an effort to discuss not only with government sources, the private foundations to get non dilutive funding to advance our.
Speaker 3: to be able to attract grant funding for Wong COVID. And we will be engaged in an effort to discuss not only with government sources, but private foundations to get non-deludent funding to advance our Wong COVID development.
Long Covid development efforts.
And then finally.
Speaker 3: And then finally, obviously there's been a significant amount of interest in what we've been doing in Monkey Park.
Obviously theres been a significant amount of interest in what we've been doing in monkey pox.
Just a couple of weeks ago. We spent we started very early identifying suppliers materials and supplies and strategies to be able to get into monkey pox.
Speaker 3: You know, just a couple of weeks ago, we spent, we started very early identifying suppliers, materials and supplies and strategies to be able to get into monkeypox. You know, we started doing that in, you know, the May timeframe. We never really thought that it would get to the point where there was actually a market. But unfortunately that has happened.
We started doing that.
The may timeframe, we never really thought that it would get to the point, where there was actually a market.
But unfortunately that has happened.
And as a result, we have stepped in and we spent the money required to complete the validation.
Speaker 3: And as a result, we have stepped in and we spent the money required to complete the validation. And now have a clear authorized laboratory developed test.
And now.
<unk>.
Clear authorized laboratory developed test.
That we are now deploying.
Speaker 3: that we are now deploying for our patients in the United States.
Four.
Patients in the United States.
One of the things that really separates us.
Speaker 3: One of the things that really separates us is both the sensitivity of the assay and the fact that we are validating alternative sample types to lesion swaps.
As both the sensitivity of the assay and the fact that we are validating alternative sample types to lesion swaps.
As we know lesion swaps first require lesion and the incubation period of Monkey pox can be up to three weeks. This incubation provides a window of opportunity to potentially intervene.
Speaker 3: As we know, lesion swaps first require lesion, and the incubation period of monkeypox can be up to three weeks.
Speaker 3: This incubation provides a window of opportunity to potentially intervene.
With therapeutics, such as T box that are currently available under early access.
Speaker 3: with therapeutics such as T-POPs that are currently available under an early access, IND, and hopefully.
And hopefully.
Generate sufficient data to be able to be authorized as a therapeutic for monkey box as well as <unk>, which is being used both as a prophylactic as well as the post exposure prophylaxis intervention for monkey pox. Unlike COVID-19, we have tools in the United States, who deal with Monkey pox, although not so.
Speaker 3: generate sufficient data to be able to be authorized as a therapeutic for monkeypox, as well as Jynneos, which is being used both as a prophylactic as well as a post-exposure prophylactic intervention for monkeypox. Unlike COVID, we have tools in the United States to deal with monkeypox, although not sufficient tools. It seems as though one of the challenges has been deploying, testing, and contact tracing in the right way to identify
Fishing tools and it seems as though one of the challenges have been deploying testing.
And contact tracing in the right way to identify patients.
With Monkey pox early.
Speaker 3: with monkey pots early. We've heard now, since we announced the launch run, monkey pots, horror stories from non gay, non male patients, who have all the classical symptoms of monkey pots, but we're denied testing or weren't seen, and now have been experiencing monkey pot systems for up to 10 weeks.
We've heard now since we announced the launch of our Monkey pox horror stories from non gay not.
Non mail.
Patients who have all the classical symptoms of monkey pox, but were denied testing or <unk> seen.
And now have been experiencing monkey pox symptoms were up 10 weeks.
This is what we feared when we heard of the challenges in terms of getting testing out to the marketplace.
Speaker 3: This is what we feared when we heard of the challenges in terms of getting testing out to the marketplace. We saw the social media viral videos of patients with monkeypox talking about how difficult it was and how many physicians they needed to see to get diagnosed. And now, starting to see reports of people who have been diagnosed with monkeypox of unknown origin.
We saw the social media viral videos.
Patients with Monkey box.
Talking about how difficult it was and how many physicians they needed to see to get diagnosed and now <unk>.
Starting to see reports of people who have.
Been diagnosed with monkey pox.
Known origin.
Which means that someone had monkey pox was not tested without either contacted them skin to skin or was in the close discussion.
Speaker 3: which means that someone had monkeypox was not tested without either contacted them, skin to skin or was in a close discussion and breathed in sufficient virions to generate a monkeypox infection or...
And.
Breathed in sufficient <unk> to generate amongst pox infection or.
Although less likely could.
<unk> monkey pox from some surface, whether that's a bedsheet at a hotel or a door handle.
Speaker 3: contracted monkey pox from some surface, whether that's a bedsheet at a hotel or a door handle.
So it's quite clear.
Speaker 3: So it's quite clear that we don't have a handle on monkey pops.
That we don't have a handle on monkey pox.
With school opening.
Speaker 3: And with school opening, both colleges, high schools, middle schools, elementary schools, and daycares, we have already seen monkey pox diagnoses in each of those patient populations.
Both colleges.
High schools Middle schools elementary schools, and daycares, we've already seen monkey pox.
Diagnoses in each of those patient populations and we've also seen them in the United States among caregivers in those populations.
Speaker 3: And we've also seen them in the United States among caregivers in those populations.
And given that we don't really know the extent to which monkey pox can spread.
Speaker 3: And given that we don't really know the extent to which monkeypox can spread through the air, just a few weeks ago, CDC indicated that monkeypox was not primarily spread through airborne disease and just last Friday.
Through the air.
Just a few weeks ago CDC indicated that monkey pox was not primarily spread through airborne disease, and just last Friday.
The CDC changed its guidance and began recommending people wear masks to avoid monkey pox.
Speaker 3: the CDC changed its guidance and began recommending people wear masks to avoid monkey paws.
It's quite clear that the science is changing rapidly as is the guidance and the messaging.
Speaker 3: It's quite clear that the science is changing rapidly as is the guidance and the messaging that has been delivered to the market that monkeypox is limited to the male gay community and is a sexually transmitted infection has created a dangerous situation where people do not understand their risk level and do not take simple precautions.
That has been delivered to the market that monkey pox is limited to the male gay community and is a sexually transmitted infection has created a dangerous situation where people do not understand the risk level and do not take simple precautions like.
Using hand, sanitizer like shower and more often after being out.
Speaker 3: like using hand sanitizer, like showering more often after being out.
And so we know fear that there could be increased incidence of monkey pox and that indeed, there will be need to be increased testing.
Speaker 3: And so we now fear that there could be increased incidence of monkeypox and that indeed there will be need to be increased tested. It's.
It's obviously great.
That multi parts is not very lethal.
Speaker 3: that monkey podge is not very lethal. But it does leave significant scars and based upon
But it does leave significant scars and based upon.
The enrollees in a case study that we announced this morning case study series that we announced this morning. Some of these symptoms come last months.
Speaker 3: the enrollees in a case study that we announced this morning, case study theory that we're about this morning, some of these symptoms can last months.
And lead to.
Speaker 3: and lead to, you know, itchiness and other negative effects, both inside the body and on the surface of the body, such as scars.
Itchiness and other negative effects both.
Inside the body and on the surface of the body.
Such as scars.
And so we believe that.
Speaker 3: And so we believe that new methods of testing, beyond lesion-based testing, to identify patients earlier, as well as identify patients later, who are not properly diagnosed and who may have come to last.
New methods of testing beyond lesion based testing to identify patients earlier.
As well as identify patients later, who are not properly diagnosed and who may have convalesce.
It is critical now to get a true handle on the etiology and spread a monkey pox. So that we can get the situation under control as a result.
Speaker 3: is critical now to get a true handle on the etiology and spread of monkeypox so that we can get this situation under control. As a result, we've opened up a case study series. We now have four in release in the past 24 hours, including three women.
We've opened up a case study series, we now have four enrollees in.
In the past 24 hours, including three women.
Who are unable to get proper testing, where all symptomatic, we're unable to get that early access to treatment.
Speaker 3: who were unable to get proper testing, who were all symptomatic, who were unable to get that early access treatment TPOCs, who were unable to get Jynneos vaccination. We think it's critical that we identify these patients, that we raise awareness of the potential for other types of tests that we're developing that could help them in their diagnostic journey.
Fox were unable to get Jennie O's vaccination, we think it's critical that we identify these patients. These patients that we raise awareness of the potential for other types of tests that we're developing that could help them in their diagnostic journey.
And so we think that while monkey pox, certainly is a small opportunity compared to everything else that we're doing and Dr. <unk> was launching it for Vista, We do think it's something that could be quite explosive.
Speaker 3: And so we think that, you know, while monkey pox certainly is a small opportunity compared to everything else that we're doing and Dr. Guaz launching at Provista, we do think it's something that could be quite explosive because, you know, if monkey pox ends up at my kids school, I certainly would want everyone to be tested to make sure that it's not spreading in other ways.
Because.
Monkey Pox ends up at my Kids School, I, certainly would want everyone to be tested to make sure that it's not spreading in other ways.
So we have accomplished a great deal in the first half of 2022.
Speaker 3: So we have accomplished a great deal in the first half of 2022.
Before I turn the call over to your questions I would like to thank our employees for their dedication in helping us position the company for sustainable long term growth I would also like to thank our investors for entrusting a portion of their investment dollars in our company.
Speaker 3: Before I turn the call over to your questions, I would like to thank our employees for their dedication and helping us position the company for sustainable long-term growth. I would also like to thank our investors for entrusting the portion of their investment dollars in our company. And we also welcome new shareholders to Toto.
And we also welcome new shareholders to totals on what we believe will be a tremendous journey as we move forward into deployment and expansion of our testing.
Speaker 3: on what we believe will be a tremendous journey as we move forward in the deployment and expansion of our testing for COVID, monkey pox and other genetic based tests that provista that build the basis for the launch of our cancer and Alzheimer's suite and provide.
For Covid.
Covid.
Monkey pox and other genetic based tests at <unk> that build the basis for the launch of our cancer and Alzheimer's suite.
And provide.
A springboard to gather the necessary.
Speaker 3: a springboard to gather the necessary immunological data to support the use of our dietary supplement to a little bit more broadly in the Wong-Covid community, as well as identify key biomarkers that are generating positive outcomes with the use of our therapeutic drug candidate, to a little bit.
Immunological data to support.
The use of our dietary supplement toll of it more broadly in the long Covid community as well as identify key biomarkers that are generating positive outcomes.
With the use of our therapeutic drug candidate told here.
We look forward to building on the positive momentum that we've generated thus far in the first half of 2022, as we implement and begin to see results from our future growth plans.
Speaker 3: We look forward to building on the positive momentum that we've generated thus far in the first half of 2022 as we implement and begin to see results from our future growth plans.
Thank you.
Operator. This concludes our prepared remarks, and you can now open the call to questions.
Speaker 1: Operator is concluded that prepared remarks and can now open the call to questions.
There will now be a question and answer conducted if you would like to participate you can click raise hand, even at the bottom of your screen.
Speaker 1: There will now be a question and answer conducted. If you would like to participate, you can click raise hand at the bottom of your screen. If you dialed in, you can click star nine to raise your hand. We also have around 23 questions already typed in the Q&A box at the bottom.
Diodes, and you can click star nine to raise your hand, we also have around 23 questions already typed in.
Q&A box at the bottom.
Sure.
So multiple questions you have got 23 hope they'll be able to answer them, all and I won't be able to commit to entering beyond this.
Speaker 3: So multiple questions to have got 23 hope that I'll be able to answer them all and I won't be able to commit to answering beyond this. First question, why did NLC write into their agreement with us? They could walk away if terms weren't met by September 15th if they weren't prepared to do that. There was concern early on when we closed the transaction that totals would not be able to operate as a going concern, given the challenges and raising funding.
First question why did MLC right into their agreement with us they could walk away if terms, where it met by September 15th.
Arent prepared to do that.
There was concern early on.
When we close the transaction that.
Totals would not be able to <unk>.
<unk> operate as a going concern given the challenges in raising funding.
In the first half of 2022, and this was something that they were quite concerned about.
Speaker 3: in the first half of 2022. And this was something that they were quite concerned about. And it's something that we felt that we could deliver on through execution. And that was a bet we made. Since that time, we have executed and have delivered funds to...
It's something that we felt that we could deliver on through execution and that was the bet we made.
Since that time, we have executed and have delivered funds too.
<unk>.
NLC three sell pharma and we intend to continue to do that.
Speaker 3: NLC 3CL pharma and we intend to continue to do that. Obviously we understand the concern from the market. We don't see that as a significant risk because
Obviously, we understand the concern from the market, we don't see that as a significant risk.
Cause we have executed.
On the requirements.
Speaker 3: on the requirements. But with that said, we do understand the concerns there and we are gonna be looking to address them or robustly here in the near future so that there is no risk going to that September 15th date that shareholders can be concerned about. But that is the reason why it was put into the agreement.
But with that said, we do understand the concerns there and we are going to be looking to address them more robustly here in the near future so that.
There arent there is no risk going into that September 15th date that shareholders can be concerned about.
But that is the reason why it was put into the agreement is.
This moment is moneta truly the best partner to spin off <unk> don't they know much 10 billion shares will undermine sentiment in the stock with a reverse split on the table.
Speaker 3: Is Moneta truly the best partner to spin off 3CL? Don't they know much 10 billion shares will undermine sentiment in the stock with a reverse split on the table? Certainly, we understand the risks around the reverse split and the authorized shares. I addressed them earlier in the conference call. Yes, we believe that Moneta is absolutely one of the best partners to help us position marketing of 3CL. Remember, our strategy with 3CL is very simple.
Certainly we understand the risks around the reverse split and the authorized shares I address them earlier in the conference call. Yes, we believe that Moneta is absolutely one of the best partners to help us position marketing of <unk> remember our strategy with <unk> is very simple.
Total is providing the seed funding to get totally with sales to a stable place where it can help fund III and fund the clinical study.
Speaker 3: TOTOS is providing the seed funding to get to all of its sales to a stable place where it can help fund 3CL and fund the clinical study to support the EWA filing to TOTO for the hospitalized COVID. We have executed on those two things. And now the strategy is for 3CL to raise its own money.
To support.
The.
EUA filing so totally weird hospitalized COVID-19.
We have executed on those two things.
And now the strategy is for <unk> to raise its own money directly through a crowd funding efforts that totals does not need to dilute itself or its revenue.
Speaker 3: directly through a crowdfunding effort that totals does not need to dilute itself.
Further support <unk> and we're in the middle of that transition of funding right. Now so we will be launching a crowd funding campaign directly for <unk> and absolutely we think that Jon Najarian and Mark Lopresti have tremendous reach with respect to marketing and we'll be able to help <unk> raised the necessary.
Speaker 3: or its revenue to further support 3CL. And we're in the middle of that transition of funding right now. So we will be launching a crowdfunding campaign directly for 3CL. And absolutely, we think that John DeGerian and Mark Lopresti have tremendous reach with respect to marketing and will be able to help 3CL raise the necessary funds achieved.
Funds to achieve the long term objectives as a node.
Speaker 3: the long-term objectives. As a note, Manada has assisted another company in crowdfunding that raised $72 million.
Manhattan has assisted another company in crowd funding that raised $72 million since.
Since the start of 2021.
Speaker 3: since the start of 2021. It's in a slightly different space, but the marketing infrastructure efforts are the same.
It's in a slightly different space, but the marketing.
Infrastructure efforts are the same.
And as a result of that experience and the relationships that they've developed to that experience that is why they felt they could be helpful. With <unk> given just the tremendous.
Speaker 3: And as a result of that experience and the relationships that they've developed to that experience, that is why they felt they could be helpful with 3CL given just the tremendous.
Customer reach of our end products.
Speaker 3: customer reach of our end product.
John used all of it.
Speaker 3: So, you know, John used all of it when he had challenges over the Christmas holiday season. That's why he believes in it. That's why he was prepared to support us during our Super Bowl marketing efforts.
When he had challenges over the Christmas holiday season, that's why he believes in it that's why.
He was prepared to support us during our Super Bowl marketing efforts.
And make a lot of introductions to us that will begin to pay dividends now that football season is getting started.
Speaker 3: and make a lot of introductions to us that will begin to pay dividends now that football season is getting started. That's also why he brought in his partner Mark Lopresti to really make sure that all the pieces are in place and buttoned up so that we can completely go out and do crowdfunding as their other client did. And so yes, I believe that they are the right group to help us get that out to the market.
That's also why he brought in his partner Mark Lopresti to really make sure that all the pieces are in place and buttoned up and.
And so that we can completely go out and do crowd funding as their other clients it.
And so yes, I believe that they are the right group to help us get that out to the market.
What is the cost to acquire new told with customer currently that cost has dropped from upwards of $80 to now below $40 and we see that going lower over time as.
Speaker 3: What is the cost of buy a new toll of a customer? Currently that cost drops from upwards of $80 to now below $40 and we see that going lower over time as we expand our marketing.
As we expand our marketing base.
With little <unk>.
Cash on hand, how would you drive a more intense marketing campaign for told it while we've hired a digital marketing group.
Speaker 3: With little cash on hand, how will you drive a more intense marketing campaign for total of it? While we've hired a digital marketing group, and one of the ways in which digital marketing group will actually help us is they get much better leverage on their spend. This is something I didn't know, but it learned in the last several months. The total dollar spend by an entity on digital marketing.
And one of the ways in which digital marketing group will actually help us as they get much better leverage on their spend.
This is something I didn't know, but have learned in the last several months.
The total dollar spend by an entity on digital marketing.
It gets you better leverage on your investment with the social media companies as compared to Standalone. So for every $100.
Speaker 3: gets you better leverage on your investment with the social media companies as compared to a standalone. So for every $100,
That we spend because we only spend $100 for example.
Speaker 3: that we spend, because we only spend $100, for example, that same $100 would get $300 or $400 worth of marketing value if it is spent by a digital marketing firm.
That same $100 would get three or $400 worth of marketing value. If it is spent by a digital marketing firm and so as we learn this and we started to see our own metrics. That's one of the reasons why we engage with the digital marketing firm. So we can get much better leverage on our spend.
Speaker 3: And so as we learn this and we started Sierra on metrics, that's one of the reasons why we engage with the digital marketing firm. So we can get much better leverage on our spend as well as have them assist us in content creation. And the point.
As well as have them to assist us in content creation.
And deployment, so we expand our marketing team this is going to be especially important as we get out to the marketplace and begin to market not only told of it but the <unk>.
Speaker 3: So we expand our marketing team. This is going to be especially important as we get out to the marketplace and begin to market not only pull of it, but the 3-C-L.
Crowdfunding effort, we see that as very synergistic because obviously the people who are most likely to respond for crowd funding campaigns are people have successfully used the product and believe in it.
Speaker 3: crowdfunding effort. We see that as very synergistic.
Speaker 3: because obviously the people who are most likely to respond from crown funding campaigns are people have successfully used the product and believe in it.
And while we don't have a massive customer base for toll of at our customer base is extremely loyal with an over 80% return rate.
Speaker 3: And while we don't have a massive customer base for toll event, our customer base is extremely loyal with an over 80% return rate.
People, who used all of it come back and use it again, because they felt it helped them.
Speaker 3: People who used all of it come back and use it again because they felt it helped.
And we think that this loyalty as we expand that customer base through digital marketing can help our efforts with crowdfunding.
Speaker 3: And we think that this loyalty, as we expand that customer base through digital marketing, can help our efforts with crowdfunding.
What is the expense and time and money to bring in new tests at <unk> that really depends if we're bringing on tests that have been validated and are out there in the public literature and for which we simply need to validate and deploy as we saw with monkey pox, we can get it done in as little as two weeks and for under $10000.
Speaker 3: What is the expense and time and money to bring in new tests at ProVista? That really depends. If we're bringing on tests that have been validated and are out there in the public literature and for which we simply need to validate and deploy, as we saw with Monkeybox, we can get it done in as little as two weeks and for $110,000.
If youre talking about a test flight <unk>, that's proprietary where we will be the only ones in the country running it and we have to have data in order to be able to drive adoption for physicians. That's obviously much more expensive is over $50 million has already been spent on by desktop and over $20 million has already been spent on Linde pro.
Speaker 3: If you're talking about a test like ProVista, that's proprietary, where we will be the only ones in the country running it, and we have to have data in order to be able to drive adoption for positions. That's obviously much more expensive. Has over $50 million has already been spent on by Dessa. Over 20 million has already been spent on LIMPRO.
So those tests will take significant investment to get them to market and that's one of the reasons why we are expecting their launch later on not in the second half of 2022, because we are prioritizing our funds on what's going to generate revenue now with something more like in 2023, where we expect that free cash flow to be able to complete the deployment of those tests.
Speaker 3: So those tests will take significant investment to get them to market. And that's one of the reasons why we are expecting their launch later on, not in the second half of 2022, because we're prioritizing our funds on what's going to generate revenue now, but something more like in 2023, where we expect that free cash flow to be able to complete the deployment of those.
What do we.
We expect monkey pox approval and how you become the test of choice for <unk>.
Speaker 3: What do we expect monkey parks approval on how you become the test of choice for gay men?
In New York.
Speaker 3: in New York. We have an inspection of our lab by the New York Department of Health in September , at which point we expect monkey costs to be added to the set of assays that can be deployed in New York.
We have an inspection of our lab by the New York Department of Health in September at which point, we expect monkey pox will be added to the set of assays that can be deployed in New York.
And we expect to become the test of choice not only for <unk>, but for everyone by focusing on saliva.
Speaker 3: And we expect to become the test of choice, not only for gay men, but for everyone by focusing on saliva, as saliva will really open up the market and ease providers.
Saliva will really open up the market and he's provider.
Provider.
<unk> of potential infection by allowing a simple collection with saliva and a simpler message and requiring someone to remove their clothing swabbing their lesions.
Speaker 3: of potential infection by allowing a simple collection with saliva and a simpler message than requiring someone to remove their clothing and swabbing their lesions.
Going through we have a few.
Speaker 3: Going through, we have a few redundant questions.
Redundant questions.
For each of the lawsuits we filed to reclaim how.
Speaker 3: For each of the lawsuits, we filed to reclaim how much could we hope to recover in one? So we are in arbitration with NOAA and we expect that is gonna be happening at the leave of September . And we expect to claim $4 million.
How much could we hope to recover in one.
So we are in arbitration with Noah and.
And we expect that is going to be happening I believe in September and we expect to clean a $4 million.
Don't really expect to claim less than what we are owed because people use our products. They have a history of paying for the products and simply didn't pay.
Speaker 3: We don't really expect to claim less than what we're owed because people used our products. They have a history of paying for the products and simply didn't pay. And so, you know, we don't see any reason why we would lose. Similarly, with some of our other clients, although the numbers are less and they may have tried, you know, to work with us for a little bit longer once they became sustainable, the net result is the same. People bought products that used them and they didn't pay.
And so.
We don't see any reason why we would lose.
Similarly, with some of our other clients, although the numbers are less than they may have tried.
To work with us for a little bit longer once they became sustainable.
That result is the same people bought products that use them and they didn't pay.
And we have the proof.
Speaker 3: and we have the proof. So, you know, we expect we're going after something like $6 million. We expect to recover all of that. I'm obviously if we recover some portion of that, any dollar that we do recover is beneficial. And so, you know, we're going to be going out.
So we expect we're going after something like $6 million, we expect to recover all of that obviously, if we recover some portion of that any any dollar that we do recover as beneficial.
And so we're going to be going after every single dollar.
What updates can we offer on the toll of your IP.
Speaker 3: What updates can we offer on the 12 year IP? So I believe the first patent filed in February 2020 by Dr. Arad around three-fiel prudiers and coronavirus have now published. If they have not published, they will publish shortly as we just funded the nationalization of that patent portfolio last week. I'm on it.
So I believe.
The first patents filed in February 2000, 22020 by Doctor Rod around <unk> and Corona virus have now published they.
Have not published they will publish shortly as we just funded the nationalization of that patent portfolio last week.
And we are very confident.
We've also made tremendous progress since that time and identifying key components that add significant IP value to the portfolio.
Speaker 3: We've also made tremendous progress since that time in identifying key components that add significant IP value to the portfolio. And now the ratios and other aspect of formulation are also adding a third layer of IP protection to the portfolio.
Now the ratios and other aspects of formulation are also adding a third layer of IP protection to the portfolio.
And this is all we're looking to nail down before we go into regulatory agencies for authorization and one of the reasons why we've delayed filing the IND, we want to make sure all the ducks are in a row for a successful outcome.
Speaker 3: And this is all we're looking to nail down before we go into regulatory agencies for authorization. And one of the reasons why we've delayed filing the IND, we want to make sure all the doctors are in a row for a successful outcome.
So currently.
Our biggest competitor in the Atlanta area is a lab Corp. If somebody is also doing lesion basis Mark.
Speaker 3: So currently our biggest competitor in the Atlanta area is a lab called Ipsin who's also doing region-based monkey park testing, but they are not doing saliva.
<unk> testing, but theyre not doing saliva.
Are we targeting fall neuro Alzheimers conference for Liberal press release.
Speaker 3: Are we targeting fall neural Alzheimer's conference for lymphropress release? Ideally, that would be a great time for Dr. Arendt to finally sign on the dotted line with respect to the data and allow us to put out the information once it becomes material, which will only be material once he signs off on the validation. So, you know, he's in the process now of the data analysis and once that validation is signed off on, which hopefully coincides with those conferences, then we will put out the information.
Ideally that would be a great time for doctor and to finally sign on the dotted line with respect to the data and allow us to put out the information once it becomes material.
Which will only be material once he signs off on the validation so.
He's in the process now of the data analysis and.
And once that validation is signed off on which hopefully coincides with those conferences, then we will put out the information to the market.
Yes, we have several warrants were with clinics and Kols, who have tried to all of it and are now.
Speaker 3: Yes, we have several long COVID clinics and KOLs who have tried, told of it and are now avid customers and supporters.
Avid customers and supporters.
Okay.
Why doesn't that retrospective narrative as Q2 not matched the forward vision cast and that was offered for Q2.
Speaker 3: Why does the net retrospective narrative is Q2 not match the forward vision cast that was offered for Q2? Our strategy in Q2, we didn't put out or give guidance at the end of Q1. Part of the reason for that is we were mid-transition of moving from primarily distribution to...
Our strategy in Q2, we didn't put out or give guidance at the end of Q1 part of the reason for that is we were mid transition of moving from primarily distribution too.
Direct sales through per visitor.
Speaker 3: direct sales through ProVista. And that was something that quite frankly weren't 100% confident we were going to be successful at.
That was something that quite frankly weren't 100% confident we were going to be successful at.
Because of the major challenges that we had.
Speaker 3: because of the major challenges that we had. We changed our billing system. We've changed our laboratory information management system.
<unk> changed our billing system.
We've changed our laboratory information management system.
We've hired a new lab management, we've hired a new chief commercial officer, we've hired a new sales team.
Speaker 3: We've hired a new lab management, we've hired a new chief commercial officer, we've hired a new sales team, and there's been quite a lot of changes as it became apparent that the government was giving up.
And theres been quite a lot of <unk>.
Changes.
As it became apparent that the government was giving up.
On Covid.
And trying to rely on rapid antigen tests that have significant false positives and false negatives to control the pandemic is.
Speaker 3: on COVID and trying to rely on rapid antigen tests that have significant false pauses and false negatives to control the pandemic. It's become quite clear that that strategy
Become quite clear that that strategy has failed.
Recently the FDA.
Speaker 3: Recently, the FDA has added yet another 48-hour testing requirement for rapid-and-added negative tests, which dramatically reduces their value in the diagnostic market. It's clear the market hasn't quite figured that out yet. Mark has just mad with the FDA. Although I think the FDA has done a tremendous job in the USDA commissioner in really using real-world evidence to guide decision-making.
<unk> has added yet another 48 hour testing requirement for rapid antigen negative tests, which dramatically reduces their value.
In the diagnostic market.
It's clear the market hasn't quite figured that out yet.
Mark is just mad with the FDA, although I think the FDA has done a tremendous job the new FDA Commissioner and really using real world evidence to guide decision, making.
But the CDC guidance around testing as <unk>.
Speaker 3: But the CDC guidance around testing is a bomb.
As a result of that we think that the market will turn back to PCR.
Speaker 3: As a result of that, we think that the market will turn back to PCR because getting infected over and over and over again and affecting your family is not an option both people want. And nobody has trust in the rapid-and-added tests.
Because getting in fact that over and over and over again and expecting your family is not an option most people want.
And.
Nobody has trust and the rapid antigen tests you couple this with.
The administration that has indicated they want to get out of the business of distributing vaccines.
Speaker 3: The administration that is indicated they want to get out of the business is distributing vaccines and a new vaccine coming on to the market that has zero data.
<unk>, a new vaccine coming onto the market that has zero data with.
With respect to actually preventing transmission and a skeptical public debt is done.
Speaker 3: with respect to actually preventing transmission and a skeptical public that has done a Yomans job in trying to get vaccinated but now has vaccination fatigue and we see the fourth quarter as a potential exactly what the White House called as a potential for over 100 million.
A yeoman's job in trying to get vaccinated, but now has vaccination fatigue, and we see the fourth quarter as potential.
Exactly what the White house call that the potential for over $100 million Covid.
Covid infections.
So we were quite surprised that the whitehouse came out and said that that Josh said that.
Speaker 3: So we were quite surprised that the White House came out and said that, that Josh said that. We agree with him, but we do have problems reconciled that.
We agree with him.
But we do have problems reconciling that.
Projected reality alongside with the guidance.
Speaker 3: projected reality alongside the guidance.
Of not testing not masking not really ventilated.
Speaker 3: of not testing, not masking, not really ventilating, and then the challenges associated with the new vaccine roll.
And then.
The challenges associated with the new vaccine rollout.
So.
Speaker 3: So while there are reasons for optimism, and hopefully these new vaccines do get significant uptake, and hopefully they also prevent transmission, we think obviously that would be tremendous for the country. We're taking the position that they have to show us that that's gonna happen.
While there are reasons for optimism and hopefully these new vaccines to get significant uptake and hopefully they also prevent transmission.
We think obviously that would be tremendous for the country.
We're taking the position that they have to show us that that's going to happen first.
Because relying on the guidance has.
Speaker 3: because relying on the guidance has been a failing strategy. And we think that there's going to be significant blowback as reinfections happen as long COVID increases, especially heading into the end of the year when everybody knows that they're over the last two years. There's been a huge surges in COVID.
<unk> has been a failing strategy.
And we think that theres going to be significant blow back.
As re infections happen as long Covid increases.
Especially heading into the end of the year with everybody knows that there over the last two years, there's been a huge surges in COVID-19.
And then.
When will you pay off less than our intention is to do that as quickly as possible.
Speaker 3: When will you pay off levistan? Our intention is to do that as quickly as possible. We heard, you know, we heard everyone and we've heard the concerns with respect to delusion and we're looking to kind of buttress all of the concerns around 3CL, dilution, et cetera, in the near future.
<unk>, we heard everyone.
And we've heard the concerns.
With respect to dilution and we're looking to kind of buttressed all of the concerns around <unk> dilution et cetera in the near future.
So we will be making significant progress on this but first and foremost we want to continue to execute.
Speaker 3: So we will be making significant progress on this, but first and foremost, we want to continue to execute. All of the shareholders are obviously happy that the price has increased recently and we intend to continue to execute on our plan and hopefully the market responds and provide just the opportunity needed to be able to execute and...
All of the shareholders are obviously happy.
That the prices increased recently and we intend to.
Continue to execute on our plan and hopefully the market responds and provides us the opportunity needed.
To be able to execute and.
And finished paying off all of our debt. So we see revenue now that we've put out in the market research data for <unk>, we see revenue really starting to move up in that area and we're hopeful that we can have a couple of big days that would allow us.
Speaker 3: and finish paying off all of our debt. So we see revenue now that we've put out the market research data for total of it, we see revenue really starting to move up in that area. And we're hopeful that we can have a couple of big days that would allow us.
Some of the financial wherewithal to complete that.
Speaker 3: You know, some the financial wherewithal to complete that.
When do we anticipate an uplift.
Speaker 3: When do we anticipate an up list? That's very unclear. We don't want to do anything that's going to destroy value. And so we're going to be very strategic in when we do an up listing. And we're going to look to do that in and around significant.
That's very unclear.
We we don't want to.
Do anything that's going to destroy value and so we're going to be very strategic.
Strategic and when we do an up listing and we're going to look to do that in and around significant milestones. So yes, <unk> been hearing for some time and we haven't done it that's because we haven't felt that we were properly positioned we now have an underwriter.
Speaker 3: So yes, you've been hearing it for some time and we haven't done it. That's because we have felt that we were properly positioned. We now have an underrider.
That.
Speaker 3: that is prepared to do it. With that said, we still want to make sure that we do it in a way that is best for shareholders. And so now our focus is not on the uplift, our focus is on executing our business plan, growing our revenues and delivering on qualitative milestones that we think the market will appreciate and establishing ourselves the leadership in PCR testing and monkey parks.
Is prepared to do it with that said, we still want to make sure that we do it in a way that is best for shareholders and so now our focus is not on the uplift our focus is on <unk>.
Executing our business plan growing our revenues and delivering on qualitative milestones that we think the market.
We will appreciate.
Stablish and ourselves for leadership in the PCR testing and Monkey pox testing.
And we think we can do those things that.
Speaker 3: and we think we can do those things that we have an opportunity to see value.
We have an opportunity to see value.
Increase what are the limitations of an LDP there really are no limitations of an LDC.
Speaker 3: What are the limitations of an LDP? There really are no limitations of an LDP. Really a laboratory developed tests.
A laboratory developed test.
Is available under clear.
Speaker 3: is available under CLIA. The main limitation is that you cannot run it out of multiple labs and need to be run out of a single lab so that you have consistent results. That is the main difference between an LDP and a 510k review.
The main limitation is that you cannot run it out of multiple labs and needs to be run out of a single labs that you have consistent results that is the main difference between an <unk> and a 500 10-K review so the lab certifies that is generating consistent results.
Speaker 3: So if the lab certifies that is generating the system results.
That is enough to launch broadly and in fact, 75% of the tests that are taken in the United States do not have five five 10-K clearance. They are laboratory developed tests.
Speaker 3: That is enough to launch broadly. And in fact, 75% of the tests that are taken in the United States do not have five papers, five 10-K clearance, they are laboratories developed test.
We are in a pretty good position to be able to deploy that state by state is the requirement with respect to authorization, but most almost all states have reciprocity with Georgia.
Speaker 3: So we are in a pretty good position to be able to deploy that. State by State is the requirement with respect to authorization, but most almost all states have reciprocity with Georgia. And so we can easily register with each of the health departments and begin testing.
So we can easily register with each of the health departments and begin testing there.
The only states that really have any challenges.
Speaker 3: The only states that really have any challenges are not really around the testing, but around the collecting our Washington, California, New York. California, we are a certified lab at State of California already. So we're doing necessary paperwork to add multipox testing. Obviously, we have our inspection with New York coming up in September . And Washington has not been a significant market for us, although over time, if we do get interest, we do have the ability to register.
Not really around the testing, but around the collecting our AR, Washington, California, and New York.
California.
We are certified lab at the state of California already and so we're not doing necessary paperwork to Admiralty box testing, obviously, we have our inspection with New York coming up in September and Washington has not been a significant market for us although over time, if we do get interest we do have the ability to register there.
Okay.
Okay. Unfortunately, we are just about running out of time.
Speaker 3: Okay, unfortunately we are just about running out of time. And I have one last question that I believe I can answer here.
And I have one last question that I believe I can answer here.
What is the breakdown of the revenue between toll of it in the diagnostic tests. So we did about 800000 in revenue in the month of June alone for the diagnostic tests.
Speaker 3: What is the breakdown of the revenue between Tolivant and the diagnostic tests? So we did about 800,000 revenue in the month of June , along with the diagnostic test.
April and May were relatively much slower. So I think total revenue was about $1 $3 million for the diagnostics, but we really steady the ship and got some significant.
Speaker 3: April and May were relatively much slower, so I think total revenue was about $1.3 million.
Speaker 3: for the diagnostics, but we really studied the ship and got some significant contracts heading into June . So July was very consistent with June and we see August tracking slightly higher now that we've launched the Amerimian panel. So we have an increase uptake of the CPAS test.
Contracts heading into June or July .
Was very consistent with June and we see August tracking.
Slightly higher now that we've launched the American panel. So we have an increased uptake of the C pass test.
And we're preparing to launch these other PCR tests, we expect that September will be a very very significant month for us and so October November and December .
Speaker 3: and we're preparing to launch these other PCR tests. We expect that September will be a very, very significant one for us and so will October , November and December . So we had about 700,000 poll of its sales for the...
So we had about 700000 told itself.
For the.
Second quarter.
Speaker 3: second quarter. And we see that with the data now out there in the marketplace and our ability to market more aggressively. And also now some of the relationships we established in the sports community coming back into season, we see a big opportunity to start to drive a toll of itself.
And we see that with the data now out there in the marketplace.
And our ability to market more aggressively and also now some of the relationships we established in the sports community.
Coming back into the season, we see a big opportunity to start to drive total of its sales.
And so we think that the third quarter and especially the fourth quarter can be quite significant for totals.
Speaker 3: And so we think that the third quarter, and especially the fourth quarter, to be quite significant.
With that I'd like to thank everyone for taking the time to join this call and operator, we can close it out.
Speaker 3: With that, I'd like to thank everyone for taking the time to join this call and operator we can close it.