Greetings. Welcome to the Summit Wireless Technologies' Fourth Quarter and Year-End 2019 Update Call. [Operator Instructions] Please note, this conference is being recorded.At this time, I'll turn the conference over to Kirsten Chapman with LHA Investor Relations. Kirsten, you may now begin.

Thank you, Rob, and good afternoon, everyone. I'd like to welcome you to Summit Wireless Technologies' Fourth Quarter and Year-End 2019 Update Call. With us today are CEO and President, Brett Moyer; and CFO, George Oliva.Before I turn the call over to Brett, I'd like to remind everyone of the safe harbor statement referenced in the SEC filings. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements, including statements made during the course of today's call.Statements contained herein, that are not based on current or historical facts, are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.Such forward-looking statements reflect the company's expectations about its future operating results, performance and opportunities.These forward-looking statements are based on information currently available to the company and are subject to a number of risks and uncertainties and other factors, including the current macroeconomic uncertainties associated with the COVID-19 pandemic and others that could cause the company's actual results, performance, prospects and opportunities to differ materially from those expressed in or implied by these forward-looking statements.For a more detailed discussion of some of the ongoing risks and uncertainties of the company's business, I'll refer you to the company's various SEC filings.It is now my pleasure to turn the call over to Brett Moyer. Please go ahead, Brett.

Thank you, Kirsten. I would like to thank everybody for joining us today. It's certainly a dynamic time, but also an exciting time for us, Summit. Today, we're really going to address a number of questions that come in inbound and look at a little perspective in terms of what's happened since the year of 2019. We started it with a substantial program announcement with LG at CES, where their OLED TVs and NanoCell TV that have been WiSA Ready. We had projected some speaker have an impact on the number of brands adopting us in the speaker world as well as other TV companies following. We'll cover all those topics. And impact in the soundbar and transmitting side. Those set of activities, now that a lot of products that were launched in Q4 is marketing and consumer response, we cover. There's always a host in every call I have, a host of questions regarding COVID-19 impact. And finally, we'll talk about financing.For the new members, just a quick overview on WiSA. WiSA is a interoperability standard between 60 and 70 brands. The objective is to make sure that speakers and transmission devices can be designed for interoperability. So TV knows how to work with a speaker, a speaker knows how to work with a soundbar, et cetera, on those. So that's the technical side. On the marketing side, it enforces communication and standards around WiSA and WiSA trademarks, so that the consumer knows how to buy multichannel wireless products that work together.Now at CES, which really was just 8 weeks ago, most of these black products were in display and talked about. And we talked about a broad range of additional products that we'll roll out this year. And as we projected a year ago, the LG announcement gave…

[Operator Instructions] Our first question today is coming from the line of Ed Woo with Ascendiant Capital.

My question is more on the supply chain. I know you said that it's been relatively unaffected. But do you think that this will change as we head into the holidays?

I don't think -- I mean, my personal belief and what we see is there's some Q1 bumps around this, but if the consumer electronic industry is going to have a supply chain problem, the best time of the year is February, right after Christmas. So I don't see the supply -- unless there's another massive wave of COVID going through Asia, which certainly, at least the news coming out of China is not that, I don't see any impact on supply for the holidays.

Great. And then going on to some of your product releases and promotional plans from some of your partners, have you seen any change at all in the near term?

So I think we are not so sensitive to changes because really, everything we see is building out. So we don't have this broad baseline to measure the in-size of delta. But as I mentioned earlier, we don't see -- we haven't heard of a change in retail evaluation of our consumer -- our customers' products going on to the retail shelf. Too early to know whether end consumers are going to respond in a meaningful way to some of the ads we've talked about in terms of, "Hey, if you're stuck at home, bring the theater home, keep the madness out," right?

Yes, you actually made a good point about how home entertainment, particularly stuff like Netflix and video games usage and demand has greatly increased at this time everybody's staying home. So that could be an opportunity.

Right. So you can see on here, part of the Enclave ad that if you download the website or if you go to the WiSA YouTube channel, you can see the latest ad, which addresses, bring the theater home. It's about 1.5 minutes long, it's pretty clever. But at the end of this, if you want, I can click it here and you can play it, we can play it, maybe. I don't know if that will work. I take that back, Ed. [Indiscernible] if we open this video.

No problem, no problem. And my last question is just on the WiSA membership. You mentioned that there was the fourth TV brand that you haven't disclosed yet. What's your coverage ratio of the percentage of market share in the U.S. of TV manufacturers that are part of the WiSA Association?

How are you asking that? In terms of premiums or in terms of products launched?

Probably market share, if you have that information? Percentage of TV by the manufacturers that are part of the WiSA Association.

Yes. So I don't think, I really could answer that, only because if you're talking about shipments and market share, then we're primarily talking about LG, and that's not my business to disclose yet. I think I can answer those questions once some of the others are in market and it's a category answer versus a category of one.

[Operator Instructions] The next question comes from the line of Daniel Carlson with Tailwinds Research.

Just a couple of things about Q1 here. I'm wondering since it's pretty much over, if you can talk about how it's shaping up relative to Q4 and sort of, what the sell-through is like? Are you seeing reorders from customers? And just, sort of, just how the general business is right now?

So we have started in March, seeing replenishment orders come back from some of the products that were launched in Q4. So that's a positive sign. In terms of shaping up, there's some small supplies issues. So I would think we are in line with our historical run rate. But we just shipped $200,000 worth of stuff that I didn't think was going to get out this quarter. So the supply chain is coming up to speed very rapidly, but that's what I would expect.

Okay. And then can you comment at all on what's going on at Best Buy in terms of how sales are going there? And sort of the attach rate with the LG TV, is that something they're pushing? Are you seeing good attach rates there?

I don't have any visibility on that, actually. But what I have visibility of and we addressed earlier in the call, is that Klipsch now that they're over the madness of the Christmas season, they are aggressively merchandising and setting up and they have a calendar to merchandise those speakers at Best Buy. And our understanding on that calendar is both promotions that they drive and joint promotions that are driven with LG. But that's our understanding. We don't have visibility of that calendar.

Got you. And then my last question is, it would be great if Sonos were to join the WiSA Association and get on this platform. Is there any chance of that happening in 2020 in your opinion?

We're lovers. We love all brands. So we talk to lots of brands that still aren't in it. There is brands that I've not announced. And until we announce them, I'm not going to preannounce anything.

At this time, we've reached the end of our question-and-answer session, and I'll hand the floor back to management for closing remarks.

All right. Well, I'd like to thank everybody that joined us. I'd like to thank our employees. And you can follow-up with me after the call.

Thank you. This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation.