Thank you, Mike, and good afternoon to everyone. I will update recent developments and review our outlook and strategy for the balance of 2016. Afterwards, we will provide details on the quarterly financial results. First and foremost, our financial position is so much better today than even the recent past. We successfully closed on a $12.7 million public offering. As of July 2016, the Company has enough cash and has reduced our debt obligations by $14.3 million over the last 12 months, with term debt now less than $10 million. That's a meaningful and significant departure from the past when debt was more than twice as high and toxic financing was a serious concern on our balance sheet. Things look much healthier now, and importantly, we were also able to decrease operating cash burn year-to-date by 55%. So we can now face the challenges ahead from a stronger and healthier financial position. Second important point, you will remember that the Company had almost no clinical or scientific data even a year ago. This was a huge limitation and a serious risk for a company claiming to have a new and disruptive material for the orthopedic implant market. Recall, the key goal for us was to confirm, affirm our data that silicon nitride was truly as good as we thought it would be. On that front, Amedica has exceeded all goals and expectations. In the last 18 months alone, we had 34 published peer-reviewed articles in the top tier journals worldwide. Select clinical articles that are coming out, a number of that, most if not all academic departments would have a hard time matching. All of these data testify to the strength, durability and stability of our material, including many other advantages compared to existing biomaterials being sold on the market today. Importantly, we learned the molecular mechanisms behind the antimicrobial properties of silicon nitride and why it leads to superior bone healing in much more detail than is known for any other biomaterial in our estimation. Earlier this year, with the strong scientific data behind us, we made a pivot towards placing a stronger emphasis on collecting and publishing our existing clinical data. It was important to get it out in front of clinicians who actually use the implants. Just like with the basic science, that effort phased off to a very promising start with several clinical papers in the pipeline, some already accepted for publication, and efforts that will continue for the rest of the year. Another important discovery in the past year was that silicon nitride is not a one-dimensional material like PEEK or titanium or anything else. It's what engineers call a [tactile] [ph] material in which we can modulate, manipulate change and engineer the surface chemistry to specifically optimize the material for distinct biological applications such as bone healing versus orthopedic bearings. This promises that the material will have a great future and that it is truly cross platform in its nature, as we continue to uncover its full potential. As an example, there is an improved version of the material we've been experimenting with, we call it second generation for now, and it's ready for large animal testing. All evidence so far shows an incredibly marked increase in bone formation when compared to our existing silicon nitride. How good is the material, our existing silicon nitride that is? We have sold over 30,000 implants between lumbar and cervical fusion devices with a solid eight year track record and zero failures related to the implant or material. Several of our papers now attest to the antimicrobial properties of silicon nitride. Now that's a property just a couple of years ago may have been of theoretical or scientific interest, today it's a very relevant and practical advantage in a cost-conscious quality and safety emphasizing healthcare environment. Also the silicon nitride composite device that was part of our CASCADE clinical trial from Europe showed that bone-graft could be eliminated entirely from spinal fusion surgery, because the material fuses bone by itself. Those study results were submitted with the FDA and we are still in dialog with them. As you may know, the FDA had questions about the outcomes at earlier time points, all of which we answered in June with statistical proof to support each one of our answers. Very recently we were granted an extension from the FDA to provide more time to determine proper indications and labeling of the composite product that is already being sold in Europe. I cannot give a precise timeline for FDA clearance nor our operating assurances, but so far our interactions with the FDA are encouraging and collegial and ongoing. The scientific paper attesting to the data from the clinical trial is finalized. It will be submitted for publication this month. And that data has been presented at various peer-meetings already with considerable surgeon interest. There was a second clinical trial from Europe called the SNAP trial which compared silicon nitride lumbar spaces to PEEK in spinal fusion. Those preliminary 12-month results are equally encouraging as in the cervical spine and in favor of silicon nitride. We will publish those results this year and the final results will be at the 24-month time point next year, at which time we'll update with a second manuscript. Also of clinical interest is a recent paper that's in peer review that we submitted, compared our material to PEEK and titanium spinal fusion implants, specifically asking if material thickness has any impact of subsidence risk. This topic has been reported in the past by independent biomaterial experts and I mentioned it because some surgeons and sales agents influenced by PEEK marketing efforts believe that thick materials like ceramics are more likely to subside into the vertebral bone. We now have additional proof through robust scientific inquiry that that is simply not the case. Science publications and clinical papers are absolutely critical in a market, given a very sophisticated audience that demands data and relies on it. Our market is driven by quality data. Going forward, while we will continue to investigate the material, it is safe to say that our science and investigative strategy has been very productive and we have enough momentum now to ensure a continued start of the output and visibility in professional forums. We spoke previously of manufacturing improvements, specifically 3D printing of silicon nitride. Now while there is work to be done before we can commercialize 3D printed silicon nitride, the fact is that our particular material composition has been 3D printed by [across the skull] [ph] robocasting and that scientific paper is ready and in final edits for submission this month to a peer journal. The bottom line is, when it comes to understanding and developing and working with this complex advanced ceramic, Amedica has a strong leading position. 3D printing of silicon nitride can change the manufacturing cost dramatically, particularly when it comes to the porous implant, which was the subject of the CASCADE trial from Europe that I talked about. Going forward from this point on, I see two challenges in front of the Company. One, the Company must become more efficient and work harder to reduce the operational cash burn, and eventually eliminate it. Two, our efforts must be directed now, all efforts, at increasing retail sales now that we have the scientific and clinical data necessary to drive sales. We are now in a position to increase surgeon awareness and increase our revenue. So taking the first point about cash burn, we know we can do it because we've already done it, but we need to do more, especially if we are to make our money last and grow the business while we revamp our sales. Many of our projects have timelines that are imprecise and there are many, many such projects in the pipeline. Now while that's encouraging, the Company needs to be prudent in its uses of cash, focusing on opportunities that drive near-term sales. And that's exactly what our strategy will be for the upcoming several quarters. We have professional teams on the ground right now examining all of our projects and costs and I'm anxiously awaiting the results of their work and recommendations, which we will act upon. I'm confident we will be able to further decrease our operating expenses while maintaining a focus on growing our retail sales. This will be an accomplishment compared to what we were even a year ago. There is no substitute for fiscal discipline. About our sales, we have a much broader product line now and it's complete with modern instrumentation and proven clinical efficacy. With 30,000 implants sold and eight-year solid track history and a solid portfolio of clinical data and science data, we can now focus on growing our retail sales. And our sales were down recently because while we executed on a number of fundamental foundational issues that I talked about, particularly data, we anticipated sales uncertainty for several reasons. One, two years ago, our metal implant system that drives silicon nitride sales was antiquated. It was difficult to sell an advanced bioceramic with an obsolete metal system. We invested in a major upgrade on the new pedicle screw system, which has been accepted enthusiastically by new surgeons. While they examine it, it will be rolled out this fall. Two, our sales were concentrated in two huge geographic locations with too few surgeons accounting for the majority of sales. As those surgeons would take a vacation or retire or slow down, our sales went down. Three, our sales model was outdated relying on legacy personal friendships and relationships to sell an advanced bioceramic with almost no clinical data to drive sales two years ago. Now we are engaged in a major revitalization of our sales strategy. First, we are bringing in new sales management at all levels, and all of them with extensive spine experience. This new team is already bringing us additional area distributors, increasing the number of field representatives and in turn new surgeons. We have data-driven horsepower now to drive a sales team and a sales model that is relevant in today's world where we are very competitive rather than the relationship-driven sales model that is fading fast from the industry. Specifically, since April of this year, not long ago, we have added three additional regional sales directors, two of whom were hired just in July. We have added 18 distributors year-to-date, 12 of which were hired in the past 45 days, and we have several additional new distributor agreements pending signatures. This is a work-in-progress as we bring new distributors and their surgeons onboard while helping them through the hospital and regulatory approval process. From these new sales professionals and distributors, we anticipate new sales and gains beginning to materialize in the fourth quarter of this year and into next year. I have all the confidence in our products and science. I have no doubt that it can achieve sales success with this major new strategy in a data-driven world. Importantly, we will trim up the Company and exercise every cost component that does not drive sales, whether OEM or retail. My role as CEO will be to work closely with our sales team and be directly involved in selling and in teaching surgeons about the exciting material that we understand better than any other biomaterial in existence. I am comfortable and very familiar with our sophisticated customer audience, namely surgeons. The changes to our sales organization began in earnest this quarter and they will be substantially completed by the end of next quarter. The goal is to come to growth, predictability, stability, and a growing curve in our sales results. Surgeons are finally gaining understanding of our material, they are curious about it, they are expressing genuine interest. In a market that remains very underpenetrated with our material, we're very optimistic about our future. We'll continue with the strategy of expanding OEM partnerships, which we talked about, that are foundationally important to a long-term business strategy. As the efforts to develop OEM business continue, the addition of a new focused sales leadership will allow our emphasis on growing revenue by driving primary Amedica spine sales, as I mentioned. And the reason is OEM partners take time to test and validate our material, whether for medical or nonmedical applications, such that the timeline of revenue generation from those efforts cannot be firmly predicted. As an example, we now have one additional OEM partner keen on using our silicon nitride for dental applications. That development came on the heels of a landmark paper that we published at a very high impact forum showing not just how but why silicon nitride is effective against bacteria that cause gingivitis or gum disease. Similarly, we have several companies working with our material for testing in total hips, cartilage articulation, hemi-arthroplasty, bioactive coatings, metal bracing and much more. Now, exciting as these projects are and even as the material grow beyond medicine to electrical and aerospace industries and others, we are of the opinion that spine implant sales must be our primary focus going forward. Among the pipeline projects, for example, we continue to work with Weigao Orthopedic, the largest orthopedic company in China. This strategic partnership was announced earlier and it will allow us to increase our global sales footprint with a large scale distribution partner in a big country. With hundreds of devices cleared by the Chinese FDA, we believe Weigao will be a strong choice for Chinese partnership. We are currently in the phase of completing biomechanical testing of a spinal fusion implant for the Chinese FDA. Likewise, we are working with a major orthopedic company in Japan to help get our material approved by the Japanese Pharmaceuticals and Medical Devices Agency, the equivalent of our FDA. We recently submitted our extensive body of data, both clinical and scientific, to the Japan FDA through our Japanese partners to gain clearance into that market where surgeons are very well aware of silicon nitride and eager to use it in their spinal surgeries. So to summarize, the two goals ahead of us are to address the operational cash burn rate and to put additional emphasis on resources toward growing spine sales. These are immediate goals, these are important goals before the Company. The other projects, scientific or otherwise, with or without partners, in or out of the medical field, in or outside the United States, exciting and promising as they truly are, can safely be reprioritized since the foundational work is done, the investments made, and the rest takes time for a variety of reasons. Our focus must be on running a company with fiscal discipline and selling the breadth of products that we already have and whose advantages are now well-established by our data. With that being said, I'll turn over the call to Ty Lombardi, who will discuss the financial results. Ty?
