Good afternoon, everyone. On behalf of Simulations Plus, I welcome you to our Fourth Quarter and Full Year 2019 Financial Results Conference Call and Webinar. Hosting the call today Simulations Plus’ CEO, Shawn O’Connor and the company's CFO, John Kneisel. An opportunity to ask questions will follow today's presentation, you may send your written questions using the questions pane on the control panel or you may use the hand raising icon on your control panel to ask your question directly. Please be sure to enter the unique audio pin displayed when you join the call. Before beginning, I'd like to remind everyone that with the exception of historical information, the matters discussed in this presentation are forward-looking statements that involve a number of risks and uncertainties. The actual results of the company could differ significantly from those statements. Factors that can cause or contribute to such differences include, but are not limited to, continued demand for the company's products, competitive factors, the company's ability to finance future growth, the company's ability to produce and market new products in a timely fashion, the company's ability to continue to attract and retain skilled personnel and the company's ability to sustain or improve their current levels of productivity. Further information on the company's risk factors is contained in the company's quarterly and annual reports and filed with the Securities and Exchange Commission. With that said, I’d like to turn the call over to Shawn O’Connor. Shawn? Shawn O’Connor: Thank you, Cameron. This was a very strong quarter for Simulations Plus, giving us a positive conclusion to a record year. We made excellent progress with regard to our key initiatives for the year and our financial results are reflective of the return on these investments with increased revenue, growth and profitability during the quarter…

Thanks, Shawn. Looking at the income slide here for the fourth quarter versus last year, our consolidated net revenues for the fourth quarter of our fiscal year 2019 were up 20% as Shawn indicated or about $1.3 million to $8 million compared to $6.7 million for the prior year. By division Lancaster's revenues were up 27% to $4.2 million, Buffalo's revenues were up 14% to $2.4 million and RTP revenues were up 13% to $1.4 million over the same period last year. As Shawn said consulting -- consolidated software and software related revenues were up $654,000 or 21% and consulting service revenues were up $684,000 or 19% actually $654,000 million on the software sorry about that. The gross profit increased 25.5% to $5.7 million, representing a 71.5% gross margin in the fourth quarter fiscal year 2019 compared to $4.6 million or 68.3% gross margin in the same quarter last year. Cost of sales increased by approximately $171,000 compared to the prior year due mainly to growth in staff wages of approximately $361,000, which accounted for the majority of all the change. The increase was offset by a reduction in direct contract expenses of about $170,000. As a percentage of revenues, cost of sales were down slightly to 28.5% of total revenue compared to 31.7% of total revenue in the fourth quarter of fiscal 2018. SG&A expenses were $3.2 million or 39.6% of revenue. In the fourth quarter of fiscal year 2019, an increase of approximately $950,000 or 42.7% [ph] compared to $2.2 million or 33.4% of revenue in the fourth quarter of 2018. The increase in SG&A expense was primarily the result of increase in stock compensation expense, increase in recruiting fees and the increased headcount in Lancaster and Buffalo. We also saw increases in accounting and consulting fees. Our…

John this is Cameron. Do you mind just walking through this last slide for some reason there seems to be a technical difficulty with Shawn's line?

No. Not at all. So I'll just -- you guys have seen this a little bit before this look at the… Shawn O’Connor: My apologies. My apologies. I'm back. I'm back. I leaned over and my earphone plug out. I apologize for that. Yeah in summary for the year, we finished the year with a very strong fourth quarter. And for the full year we've achieved our objective of increasing our revenue growth while maintaining good gross margins and overall profitability. We have made investments, which should support the continuation of these trends into fiscal year 2020. And demand for our solutions remains very strong. And we've been very successful in terms of adding to our team of consulting and staff overall to meet this demand going into next year. With that, Cameron, let's turn it over to the questions.

Thank you. And once again, if you like to ask a question using your telephone, please use the hand raising icon on your control panel and be sure to enter your unique audio pin. And while we wait for any additional live calls, we’ll go through some of the questions that were written in. The first question we have from Howard Halpern, is can you explain on the potential mortgage size the two GastroPlus collaborations announced in September and October of 2019? Shawn O’Connor: All right. Sure, Howard. The two collaborations are just initiating. And so the timing in terms of the opportunity. While in its first instance, in terms of their funding, the R&D effort begins with the projects, the opportunity in terms of follow on market for those two endeavors is still out there into the future. But the collaboration with the biotech company with the IA injection strategies is something that probably rolls into the feature set of GastroPlus, as opposed to the second collaboration with a large pharma company, the Virtual Bioequivalence Simulator which will become more likely than that a separate module. And therefore, its revenue potential down the road will be more quantifiable as a module, additional sale, additional revenue in the marketplace. I think at this point in time, while we see very good support from the first collaboration in terms of continuing to keep GastroPlus at the cutting-edge with a host of features and models and capabilities that continue to maintain its leadership position in the marketplace. With the second in terms of providing incremental module revenue opportunity for the product going forward. I don't know that we're looking at adding significant market opportunity or additions, but it certainly solidifies our position. And the second one of the module probably adds to our market size down the road, but not something that we can quantify at this point in time.

Thank you, Shawn. The next question is, what is your hiring plan for fiscal year 2020? How is the current market for hiring additional scientists and/or marketing professionals? Shawn O’Connor: Yes. Last year, I think, our overall headcount growth was about 18%, as about the size of our revenue growth. I think, going forward in the future we'll try to keep that headcount growth lower than overall revenue growth and seek to contribute to growing the business faster than headcount growth with efficiencies that we can achieve internally. But I would anticipate that they will track to or just below our revenue growth as we go into the forward tiers. The marketplace for professionals on the scientific side, on the consulting side remains very competitive. The skill sets that we seek in the marketplace are highly valued both by our clients who have internal departments for modeling simulation, as well as other consulting practices. And therefore it remains a very competitive marketplace. I think we've been very successful in presenting the benefits and value to scientists and they're joining the team here at Simulations Plus both in terms of what they can contribute to our clients as well as their internal development and expansion of their skill sets while joining the team here and working for us. On the sales and marketing side, I characterize it as good people. There's always a competitive market for good people. But when presented to a good opportunity sales and marketing people and to seek out places where they believe that they can be successful and that usually means companies that are growing and successful in the marketplace. And so well, it is as well as a competitive market we fare very well in our search there.

Next question is looking out at the next couple of years what should be the primary growth drivers? And what level of top line growth can be achieved? Shawn O’Connor: The growth drivers in our business really starts with the expansion and application of modeling and simulation. Techniques and approaches in the pharma community and as supported and done so by the regulatory community as well. There's a very good foundation today in terms of where it's applied and how it's used. And that is still a growing market. But incremental to that is where do we apply modeling, simulation in new areas in the direct development cycle, either early stage of discovery and clinical trial or a portion of the development cycle or down the road in terms of applications that may reach out to real-world data and/or precision medicine types of applications. And I would say that the activity level is very high in terms of searching out new applications. This is our -- as we talk today, it's sort of the end of our busy season in the sense of conferences and the traction of the meetings and having attended and observed the enthusiasm in the stretch and search for new applications of modeling and simulation in our world is very robust right now. So underpinning our growth into the future is that growth that's taking place in our marketplace of expanding applications of modeling and simulation. Obviously, behind that and in support of that and to our success will be dependent on our ability to continue to grow and be there with tools that are right and functional and in support of our clients both in terms of the tools -- software tools that we license to them as well as the support that we provide them with our skilled consultants. And so -- those are the underlying drivers in terms of what will be our top growth going forward, what we don't give specific guidance in that regard. I’ve pointed out come back to time again each quarter with our objective here of stepping up our growth rates into the 15% to 20% range on a consistent basis. And I think we've been very successful in demonstrating our ability to do that as we close out the year here and look forward to continuing that charge into our next fiscal year.

Our next question is we've noticed that there will be no consideration imputed interest recorded in the Q4 2019, is that correct? There could be no more improved interest reported going forward. Can you please maybe give a quick overview of what that is? And then I guess following with the question.

Sure I can handle that Cameron. The contingent consideration that created the imputed interest was from the acquisition of DILIsym being recorded at lower than full price on some earn-out calculation. That created the imputed interest and now that has all been picked up through the end of what was basically the third quarter time period. So, going forward, there'll be no more imputed interest on that calculation.

Thank you, John. The final question we have as far as -- question, can you talk about the overall landscape you're seeing for potential M&A opportunities?

Sure. I mean it's something that I devote a good part of my time to. It's a population of company potential targets out there that stands both our software -- of the nature of both the software nature as well as consulting opportunities and sometimes combinations thereof. The spam companies that are resident headquartered here in the U.S. and in some of the maybe in other territories I've spoken before in support of our expansion and building a bigger presence in the European marketplace that while we can successfully and are moving one-by-one in terms of hiring staff in that geography, an acquisition might help us in terms of stair-stepping that process a little bit more quickly. It's a marketplace where there are number of successful companies and attractive products and services out there. And we certainly are devoting an effort to identify and pursue opportunities that might exist out there. Nothing to report at this time at all in that curve, but do see it as the component of our strategy going forward and look forward to that point in time in which we may be able to presents another opportunity. This company has successfully grown itself over the last number of years with the addition of Cognigen and DILIsym as acquisitions that turned out very successful for the company and shareholders in the past. And we look forward to continuing that trend going forward.

It appears we have no additional questions at this point. Shawn I'll turn the call back over to you for closing comments. Shawn O’Connor: Yes. Just in closing I believe we've had a very good close out of our fiscal year. The page turns quick and we will be back with you after the New Year with the reporting of our first quarter and look forward to doing so. I appreciate your interest in SLP and following of the company. Thank you much.

This concludes today's conference call and webinar. If you missed any part of today's presentation, the replay is available at our website, www.simulations-plus.com. Thank you. Have a great day.