Good afternoon and thank you for joining us on today's call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference call is being recorded today, April 1, 2019. I would now like to turn the conference call over to Scott Youngstrom, CFO of ReShape Lifesciences. Please go ahead.

Good afternoon and thank you for joining us on today's call. I'm pleased to be joined by Dan Gladney, our Chairman of the Board and outgoing CEO, who will provide an overview of the company's recent activities and business highlights. I will then review our financial results for the fourth quarter and full year of 2018. And then turn the call over to our new CEO, Bart Bandy, to introduce himself and to wrap up the call. As a reminder, this conference call, as well as ReShape Lifesciences' SEC filings and website at www.reshapelifesciences.com, including the Investor Information section of the website contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results could differ materially from those discussed due to the known and unknown risks, uncertainties and other factors. These and additional risks and uncertainties, are described more fully in the company's filings with the Securities and Exchange Commission, including those factors identified as Risk Factors in our quarterly report on Form 10-K that was filed on November 14, 2018, and in our annual report on Form 10-K that will be filed at a later date. As an additional reminder, our stock is listed OTC trading under the ticker RSLS. I will now turn the call over to our Chairman, Dan Gladney. Dan?

Thanks Scott. Good afternoon, everyone, and thank you for joining us. It’s been a very busy last few months for us at ReShape Lifesciences as we continue to horn in and optimize our strategy to become a leading provider of solutions for obesity and metabolic diseases. And this last quarter as certainly one filled with hard work and change, culminating in the acquisition of Apollo’s LAP-BAND product line in exchange for the sale of the ReShape Balloon business to Apollo Endosurgery. Although, we did discuss in detail a transaction of Apollo, when that deal was announced, I would like to take some time today to reiterate the rationale and then give you some additional information regarding integration and our strategic plan as we move forward. As many of you know, LAP-BAND is a very well known, minimally invasive weight loss technology with over 20 years of commercial success and proven clinical efficacy. We were thrilled when we were made aware of the opportunity to bring this asset into ReShape Lifesciences. LAP-BAND is both FDA approved and reimbursed by most private payers in the United States, and in fact, the LAP-BAND is the only weight loss implant technology that is currently reimbursed in the U.S. The acquisition of LAP-BAND has given us an approved reimbursed well known product to offer now for patients in the Body Mass Index of 30 and above and also provide us a distribution system outside the U.S. that is already in place. This will not only allow us to hit the ground running with LAP-BAND internationally, but will also save us both time and money once our next-generation ReShape Vest is approved. We really believe that the product is a perfect addition to our portfolio. LAP-BAND has a track record that has brought immediate significant revenue…

Thanks, Dan. Let me highlight a few activities that occurred over the last quarter of 2018. During the fourth quarter of 2018 the company's Board of Directors and stockholders approved a 1-for-140 reverse split of the company's outstanding common stock that became effective after the close of market on November 7, 2018. [Inaudible] and per share amounts have been retroactively adjusted to reflect the reverse stock splits for all periods presented. On November 25, 2018, the company raised $10 million through a registered direct offering, which supplemented the $16 million that was raised through the company's aftermarket stock offering programs throughout October and November of 2018. These capital raises enabled the company to move forward with a significant and strategic business. On December 17, 2018, the company acquired Apollo Endosurgery -- acquired from Apollo Endosurgery substantially all of the assets exclusively related to Apollo's LAP-BAND product line and Apollo acquired from ReShape substantially all of the assets exclusively related to our ReShape Balloon product line. As part of the agreement we were also required to pay Apollo a cash consideration of $17 million of which $10 million was paid at the closing of the transaction, $2 million is payable on each of the first and second anniversaries of the transaction, and $3 million is payable on the third anniversary of the closing date. Additionally, as a part of the transition services agreement, Apollo will manufacture the LAP-BAND on our behalf for up to two years, served as our distributor of the LAP-BAND product outside of the U.S. for up to one year and provide other specified services. As Dan mentioned earlier, last week on March 29th we announced that we entered into a definitive agreement with certain institutional investors for a $2 million convertible note financing, which will be in…

Thanks, Scott. I could not be more pleased to be at ReShape Lifesciences. As Scott mentioned, I have spent over the past 25 years in various operational and commercial leadership roles with a significant portion of that time dedicated to this obesity space. Given my experience in building and growing organizations’ product and sales in healthcare and bariatric surgery specifically, this is a great fit for me. It was a tremendous pleasure to oversee the growth of the LAP-BAND technology during my years at Inamed and then Allergan, and I am truly excited to be reunited with this technology and to bring my experiences to ReShape. I see a unique opportunity in ReShape and that there is still is a treatment gap that has not been filled for most obese patients. The technology is there but the market awareness and penetration has never been realized. ReShape has the solutions, both with the LAP-BAND and with the exciting ReShape Vest that is currently enrolling patients for the CE Mark study in Europe. Our product portfolio has an exceptional opportunity to drive sustainable growth in a global market. Turning to my vision for ReShape Lifesciences, the technologies at ReShape truly change people's lives, both physically and emotionally. That is what gets me excited. We will work with the KOLs and the physician community to build a robust technology roadmap that thinks ahead into the future, establishes deep awareness of the clinical evidence to support the benefits of our technologies from both an outcomes and a cost perspective, and build a best-in-class team dedicated to enhance professional and patient education from surgical discernment and practice through post-procedural follow-up. Working together with the committed community of medical professional we can enhance patient outcomes and improve the lives of many people battling obesity and metabolic disease. I look forward to spending more time with all of our stakeholders over the coming months and providing updates on our strategies and progress. Thank you for everyone to come out today.

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Ladies and gentlemen, thank you for your participation in today's conference. This does conclude your program and you may all disconnect. Everyone have a great day.