Greetings and welcome to the PaySign, 2019 Year End Earnings Call. At this time, all participants are in a only-listen mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. This presentation may include forward-looking statements to the extent that the information presented in this presentation discusses financial projections, information or expectations about the company's business plans, results of operations, the impact of COVID-19, returns on equity, expected gross margins, markets or otherwise make statements about future events. Such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as should, may, intends, anticipates, believes, estimates, projects, forecasts, expects, plans and proposes. Although the company believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures including the statements made under the heading Risk Factors and elsewhere in our 2019 Form 10-K. Forward-looking statements speak only as of the date of the document in which they are contained and the company does not undertake any duty to update any forward-looking statements except as may be required by law. This presentation also includes adjusted EBITDA a non-GAAP financial measure that is not prepared in accordance with nor an alternative to financial measures prepared in accordance with U.S. generally accepted accounting principles, GAAP. In addition, adjusted EBITDA is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to similarly titled measures presented by other companies. I would now like to turn the conference over to our host, Chief Executive Officer, Mark Newcomer. Please go ahead.

Thank you, Diego, and good afternoon everyone and thank you for joining us for a discussion about our full year 2019 financial results. I am Mark Newcomer, the President and Chief Executive Officer at PaySign. With me this afternoon is Mark Attinger, our Chief Financial Officer. Before I begin my commentary on the business, I would like to address the delay in the filing of our 10-K. The delay in our filing was due to several rounds of auditor requests for additional data which took several days to complete. I would like to point out that there were no changes to the preliminary financial numbers we reported on March 16. Mark can touch on this in more detail during his discussion. I am very pleased to be able to deliver strong results for the full-year performance even with the miss related to our revenue guidance. For the full year our revenues were a record $34.7 million, an increase of 48% compared to the prior year. Our full-year net income was up 188% or $7.5 million, also a record, our adjusted EBITDA was $10.1 million, an increase of 106%. I'm very happy with these results and extremely proud of our team and their contributions towards our continued growth. We experienced strong growth in our existing industry verticals and as we expanded into new verticals. In 2019, we built out a new business line, added 49 new card programs including 38 in plasma, 7 in pharma and 4 other card programs and we now have an excess of 2.9 million cardholders on our platform. I am especially pleased with the revenue growth in our pharmaceutical programs which increased from 366,000 to over 7.3 million in just one year. With new opportunities opening in the space, we have expanded beyond our long-standing pharmaceutical…

Thank you, Mark. So I'm going to take us through to the full year results, provide some various commentary, touch on SOX 404(b) and give you some insights into quarter one performance. In digesting our earnings and the 10-K, I'm sure you've noticed we've disaggregated revenue a bit and enhanced our commentary. As I proceed, references to year-over-year improvements or percentage changes unless stated otherwise refers to the full year 2019 as compared to 2018. Revenue for the year ending December 31, 2019 was $34,666,653, an increase of 48.0% compared to the $23,423,675 in the prior year. Revenue consisted of $27 million or 78% in support of the plasma industry, $7.4 million or 21% Pharma and 0.3 million or 1% in other revenue. Although quarter 4 dollars loaded to card performed as expected, the revenue conversion rate on plasma of 3.2% was down from 3.80% in Q3. This unexpected degradation combined with lighter Pharma spend contributed to the full-year revenue shortfall versus guidance. Gross profit increased 68.8% to $19.3 million or 55.5% of revenues compared to $11.4 million and 48.7% of revenues in 2018. This 685 basis point improvement was driven primarily due to favorable mix towards higher margin card programs. The operating expenses were $13.1 million, an increase of 47.2% versus $8.9 million in 2018. The increase consisted primarily of $2.5 million in salaries and benefits, $1.1 million in stock-based compensation and $0.4 million increase in depreciation and amortization. Benefiting from higher card balances interest income was $441,000 compared to $140,000 the prior year. Net income year for the year was $7,454,319 or $0.16 per basic share, an increase of 188.0% compared to $2,588,054 or $0.06 per basic share in the prior year. Fully diluted was $0.14 per share compared to $0.05. Non-GAAP adjusted EBITDA was $10,114,980 or $0.21…

Thank you. [Operator Instructions] Our first question comes from Peter Heckmann with Davidson. Please state your question.

Thank you. Our next question comes from Austin Moldow with Canaccord Genuity. Please state your question.

[Operator Instructions] Our next question comes from Jon Hickman with Ladenburg Thalmann. Please state your question.

Our next question comes from Peter Heckmann with D.A. Davidson. Please state your question.

Thank you. [Operator Instructions] Our next question comes from Austin Moldow with Canaccord Genuity. Please state your question.

Thank you. There are no further questions at this time. I will turn it back to Management for closing remarks.

So look it is a difficult time for our country right now and for the world and we are all digesting what is occurring and how to protect our families and loved ones and those who we work with. With that said, please make no mistake about it. We remain as focused as ever on executing each day and each week and delivering valuable services to our clients and customers and continuing our growth and profitability. Thank you again for your interest, for your questions, and your participations in this call and be safe and have a good evening. And Mark, did you want to add to that?

Yes, again thank you Diego and thanks everyone for joining us today and we look forward to staying in touch in future quarters. Have a nice day and you all take care and stay safe out there.

Thank you, this concludes today's conference. All parties may disconnect. Have a great day.