CEO Scott Boyes on Q2 2018 Results -Earnings Call Transcript MPX Bioceutical Corporation (MPXEF) CEO Scott Boyes on Q2 2018 Results - Earnings Call Transcript
MPX Bioceutical Corporation (OTCQB:MPXEF) Q2 2018 Earnings Conference Call August 2, 2018 4:30 PM ET
Executives
Phil Carlson - Investor Relations
Scott Boyes - President and Chief Executive Officer
David McLaren - Chief Financial Officer
Beth Stavola - Chief Operating Officer
Analysts
Alan Brochstein - New Cannabis Ventures
Nick Warner - Canaccord
Russell Stanley - Echelon Wealth Partners
Operator
Good day, everyone and welcome to today’s MPX Bioceutical Fiscal Year 2018 Investor Call. Just as a reminder, today’s call is being recorded. At this time, I would like to turn the conference over to your host for today Mr. Phil Carlson. Please go ahead, sir.
Phil Carlson
Thank you. Good afternoon. And welcome to the MPX Bioceutical Corporation fiscal 2018 financial results conference call. A replay of this call will be archived on the investor relations section of the MPX website mpxbioceutical.com. Before we begin, please let me remind you that during the course of this conference call, MPX management may make forward-looking statements. These forward-looking statements are based on current expectations that are subject to a number of risk and uncertainties that may cause actual results to differ materially from expectation. For more information on the company’s risks and uncertainties related to these forward-looking statements please consult the companies’ MD&A and other regulatory filings available at www.cdar.com. Any forward-looking statements should be considered in light of these factors. Please also note as a safe harbor, any outlook we present it as of today the management does not undertake any obligation to revise any forward-looking statements in the future.
With me on the call today are Mr. Scott Boyes, President and CEO. Mr. David McLaren, Chief Financial Officer and Beth Stavola, Chief Operating Officer.
With that, I would now like to hand the call over to Scott. Scott, please go ahead.
Scott Boyes
Thank you, Phil and thank you every one who joined us on our call to discuss the results from our 2018 fiscal year. Probably against the advice of counsel and investor relations, I am going to go off script for a little bit and first I want to apologize to our shareholders and investors those that have supported the company and to our employees most of whom are also investors at our company that we relate with this filing. We communicated with our auditors and but together our team here has worked tremendously hard over the past four or five days to finish up what turns out to be a more complex audit they didn’t anticipated, multiple filings, multiple acquisitions, created pretty complex audit. All I can do, I take full responsibility for the delay as CEO. We are adding more internal resources and thank Kevin, our auditors brought in a fair number of external sources to help us get through this. And you certainly have my undertaking that this will never happen again. And now I will go back on script because the lawyers are ready to hit me across the head and so.
The past several months have brought the number of major developments that have grown our company including expanding our footprint in Massachusetts, Nevada, Arizona and most recently into Canada. As well we have completed three capital and convertible debt raises totaling in excess of $65 million. We have also renamed our company to MPX Bioceutical Corporation to more closely mirror the brand name of our established cannabis concentrate products and to further reflect our strategic vision to become a dominant player in the adult use and medical cannabis markets in both the United States and Canada. On today’s call I will discuss all of these events in little more detail and explain how they set us up for continued growth. Then David McLaren, our Chief Financial Officer will discuss the financial results.