Good afternoon everyone and thank you for participating on today's Second Quarter 2021 Corporate Update Call for Barfresh Food Group. Joining us today is Barfresh Group's Founder and CEO, Riccardo Delle Coste. Following prepared remarks, we will open the call for your questions. The discussion today will include forward-looking statements. Except for historical information herein, matters set forth on this call are forward-looking within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements about the company's commercial progress, success of its strategic relationships and projections of future financial performance. These forward-looking statements are identified by the use of words such as grow, expand, anticipate, intend, estimate, believe, expect, plan, should, hypothetical, potential, forecast and project, continue, could, may, predict and will and variations of such words and similar expressions are intended to identify such forward-looking statements. All statements other than the statements of historical fact that address activities, events or developments that the company believes or anticipates, will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors that the company believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The contents of this call should be considered in conjunction with the company's recent filings with the Securities and Exchange Commission, including its annual report on Form 10-K and the quarterly reports on Form 10-Q and current reports on Form 8-K, including any warnings, risk factors and cautionary statements contained therein. Furthermore, the company expressly disclaims any current intention to update publicly any forward-looking statements after this call, whether as a result of new information, future events, changes or assumptions or otherwise. In order to aid the understanding of the company's business performance, the company is also presenting certain non-GAAP measures, including adjusted EBITDA, which are reconciled in a table in the business update release to the most comparable GAAP measures. Management believes that the adjusted EBITDA provides useful information to the investor because it is directly reflective of the cash flow of the company. The primary factors in reconciling these items are non-cash costs including stock compensation, stock issued for services and gain or loss on the sale of derivatives. Please note this event is being recorded. Now, I will turn the call over to the CEO of Barfresh Food Group, Mr. Riccardo Delle Coste. Please go ahead, sir.

Thank you and good afternoon everyone. On the call today, I will review our second quarter 2021 results and discuss why I believe Barfresh is well positioned for continued strong revenue and operating cash flow improvement in the back half of this year. Revenue for the second quarter of 2021 increased 157% to $1.3 million compared to $506,000 for the same period last year, and increased approximately 30% compared to $1 million in the first quarter of 2021. The increase in revenue is the result of increased orders for our Twist & Go products in the school Channel, as well as the gradual returning sales of our single serve and bulk products compared to the COVID-19 effected quarter last year. Gross margins for the second quarter of 2021 were 43% compared to 23% for the same period last year and compared to 34% in the first quarter of 2021. The increase in gross margins over the prior year was due to the startup expenses we incurred last year for our Twist & Go and WHIRLZ 100% Juice Concentrates. The sequential increase is due to improving Twist & Go margins as well as the gradual returning sales of our higher margin Single Serve and bulk product. We expect gross profit margins for the second half of 2021 to stay around 40%. Our net loss for the second quarter of 2021 improved to $297,000 as compared to a net loss of $1.2 million in the second quarter of 2020 and compared to a net loss of approximately $600,000 in the second quarter of 2019. We continue to reduce core operating expenses, reducing total G&A expenses in the second quarter of 2021 by 6%, compared with the prior year period. As of June 30 2021, we had approximately $7 million of cash and…

Our first question comes from William Gregozeski with Greenridge Global. Please go ahead.

Hey, Riccardo great update. With regards to the changes with California, Maine and you know, presumably other ones coming down the line. But with those two states so far, have you seen any kind of noticeable change in demand or willingness from the schools to get your products in there?

Yeah, we actually have. So you know, with the different schools, they all have different budgets. And whilst you know, different schools have different offerings for the students, and they don't have the same available funds to spend. So what we have noticed is that with the change in the regulation, particularly here in California, we've had some schools that have increased the frequency as a result of the new regulations, changes. And we've had some that had a lower budget available previously. And then when the new regulations got changed, they actually came back to us and decided to include it on the menu. So it has definitely made an impact for us, we believe, and it's going to be quite meaningful as we believe it's adopted across the country.

Great. And then with the Twist & Go, can you give an update on how the you've talked before about trying to get that into grocery? Is there any updates you can provide on that?

No update other than we're working on it, at its very early stages, but it is definitely something that's on our radar.

Okay, perfect. Thank you.

The next question is from Jeremy Perlman with Maxim group, please go ahead.

Hi. I'm on the line for Anthony actually, just two quick questions. One is you have a total number of schools your current load the Twist & Go and WHIRLZ products are currently in because I mean, you keep saying you want to, you expect to be double that the school year, is there a specific number you have?

Not really a number of school locations, the benefit that we have now from Twist & Go is that we're now looking at school districts. That's something that we can update on the next call. We do have quite a number of school districts and the districts can have anywhere from one or two schools in the district to literally 1000 schools in the district. So that's something we can update on the next call.

Okay. And then, just as a follow up for that, the budget that you mentioned earlier, is that per district or per school?

It trickle down to the personal level, but it ended up being at the district level that we're dealing with. So the change in the regulations is state based at the moment. So for example, in California and Maine, they've adopted free meals for all our students K through 12. So that would go through to each individual school location.

Okay, understood, and then just quit switching to QSR. You mentioned that briefly that you still remain in contact is there anything in close in the pipeline or really COVID has really put a delay in that.

It's put a delay in it, but things in the pipeline. There are conversations that are going on right now.

But there's you haven't, you want to be able to run a timeframe? What do you think that could actually ? Okay, all right. Great, thanks. I'll jump back in.

Showing no further questions. This concludes our question and answer session and the conference is also now concluded. Thank you for attending today's presentation. You may now disconnect.