Greetings and welcome to the InspireMD Fourth Quarter and Fiscal Year 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Jeremy Feffer, Investor Relations of InspireMD. Thank you. You may begin.

Thank you, Michelle. Good morning, everyone, and thank you for joining us for the InspireMD's fourth quarter 2018 business update conference call. On the line with us today are Jim Barry, Chief Executive Officer of InspireMD; and Craig Shore, Chief Financial Officer. We will start with an overview of the company results and our recent highlights and then we will open up the call to your questions. Before we begin, let me take a minute to note that this conference call may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties, and other factors that can influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking information. Listeners are cautioned not to place undue reliance on forward-looking information as no assurance can be given after the future results, levels of activity, or achievements. And having addressed that, it is my pleasure to turn the call over to Jim Barry. Please go ahead, Jim?

Thank you, Jeremy, and thanks all of you who are joining us on the call and the webcast today. During the fourth quarter, and into 2019, we have continued to add to the body of growing evidence suggesting that our novel best-in-class CGuard Embolic Prevention System which we refer to as CGuard EPS, provides safer and more durable benefits to patients suffering from carotid artery disease. By way of some background for those of you who are new to the InspireMD story, CGuard EPS is our lead product, it's a highly differentiated, minimally invasive treatment for carotid artery disease designed around our proprietary and elegantly simple MicroNet technology to dramatically reduce or even eliminate the incidence of stroke following carotid artery procedures. CGuard EPS is designed to prevent current procedural and late ambulization by tracking potential ambula against the arterial valve behind the MicroNet, while maintaining perfusion of blood flow to the external carotid artery other branch vessels and ultimately to the brain. This is an important breakthrough in the field of treating carotid artery disease as a minimally invasive implantable device as approximately 80% of patients with high grade carotid stenosis who could benefit from a minimally invasive procedure versus the more invasive carotid endarterectomy are guided to the latter by their physicians due to the stroke risk that has been associated with conventional carotid stents. Therefore it is important that we continue to demonstrate that CGuard is both safe, easy to use, and reduces the risk of stroke. We continue to make traction not only with the interventional radiologist, interventional neurologists, and interventional cardiologists, but also with vascular surgeons who perform the majority of surgical carotid endarterectomy procedures. And this is a critical element of our long-term growth strategy. Today, I'm pleased to say that we're making good…

Thank you, Jim. Overall revenue for the fourth quarter ended December 31, 2018, was $822,000 compared to $833,000 during the same period in 2017. CGuard EPS sales increased 16% or $97,000 versus Q4 2017 primarily due to our continued focus on expanding in existing markets such as Russia and Germany and expanding into new geographies such as India and a transition from a prior exclusive distribution partner for most of Europe to local distributors. Total Q4 sales decline was due to the decrease in MGuard Prime EPS sales driven largely by doctors predominantly using drug eluting coronary stents rather than the bare metal stents such as MGuard Prime EPS in patient coronary artery disease. The company's gross profit for the quarter ended December 31, 2018, was $227,000 compared to $210,000 for the same period in 2017. Gross margin increased to 27.6% in the three months ended December 31, from 25.2% in the same period in 2017. Total operating expenses for the quarter ended December 31, 2018, was $2.4 million an increase of 46.6% compared to $1.7 million for the same period in 2017. This increase was primarily due to an increase in salary expenses primarily due to a salary related accrual which reduced our salary expenses in 2017, an increase in clinical expenses associated with CGuard EPS mainly related to the IDA efforts in 2018. Financial expenses for the quarter ended December 31, 2018, was $7,000 compared to $24,000 for the same period in 2017. Net loss for the quarter ended December 31, 2018, totaled $2.2 million or $0.05 per basic and diluted share compared to a net loss of $1.5 million or $7.38 per basic and diluted share for the same period in 2017. Revenue for the 12 months ended December 31, 2018, was $3.6 million compared to $2.8…

And we will turn it to the operator for questions.

Thank you. We will now be conducting a question-and-answer session. [Operator Instructions]. Our first question comes from the line of Thomas D'Amico [Ph] who is Private Investor. Please proceed with your question.

Good morning. My question is what's going to happen in March with the reverse split. Thank you very much for your time.

I'm sorry; we're having a lot of trouble hearing you. Could you repeat it?

What's going to happen in March with the reverse split that could take place with the stock?

Yes, the reverse split is -- is not something that we want to do nor are we planning on doing it. Again the reverse has been put out there in the proxy primarily addressed any potential de-listing as a result of our low trading price. And additionally it gives us flexibility in our capital structure and could also expand sort of the market appeal by attracting interest from institutional investors that have a stock price limitation on companies that they can invest in. So as I said no plans as of right now.

Okay. Thank you very much for your time.

Thank you. [Operator Instructions]. We have reached the end of our question-and-answer session. I would like to turn the floor back over to Mr. Barry for any closing remarks.

Okay, thank you, Michelle. So that will conclude our call today. Thank you again for taking the time to join us and hear the latest on InspireMD. I wish you all good day and look forward to speaking with you again next time.

Thank you. This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation. Have a wonderful day.