Greetings and welcome to the Xtant Medical’s Fourth Quarter 2016 Results Call. At this time, all participants are in a listen-only mode. The company will not be taking questions over the phone today. If you do have any questions you can direct them to the management after the call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host John Gandolfo, Chief Financial Officer for Xtant Medical. Thank you Mr. Gandolfo. You may begin.

Good morning. And thank you for joining us today for the Xtant Medical Holdings, Inc. fourth quarter and full-year 2016 results conference call. With me on the call today is Carl O’Connell, newly appointed Chief Executive Officer. Yesterday afternoon Xtant was pleased to issue a press release announcing record fourth quarter and full-year 2016 financial results. Today’s call is being webcast and will also include a slide presentation, which has been posted on the Company’s website. We expect the duration of the call to be approximately 30 minutes. Please note that the company remains in discussions with OrbiMed, it’s principle debt holder. Actually now to facilitate these discussions, the company has entered into a successive interest deferral agreements with OrbiMed, the most recent of which extends through March 31, 2017. We hope you will understand that given the confidential non-going nature of these discussions, we cannot comment further and as a result we’ll not be accepting questions as we normally would and had in the past at the conclusion of this call. We will resume our Q&A on these conference calls when we report first quarter 2017 earnings. At that time, we expect that we will have more information to provide as we expect discussions with OrbiMed to come to fruition. During the course of the call, management may make certain forward-looking statements regarding future events and the Company’s expected future performance. These forward-looking statements reflect Xtant’s current perspective on existing trends and information, and can be identified by such words as expect, plan, will, may, anticipate, believe, should, intend and other words of similar meaning. Any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties, including those noted in the Risk Factors section of our most recent annual report on Form 10-K. In addition,…

Thank you Carl. Slide Number 7 outlines selective profit and loss statement information for the company for the three and 12 months ended December 31, 2016, compared to the same information for the period ended December 31, 2015. The gross margin improvements were primarily the result of a higher production yield from donors in our biologics division, as well as the higher average sales price for the Company’s fiber and OsteoSelect products. Consolidate total revenue for the three months ended December 31, 2016 was approximately $24.5, an increase of 10%, compared to $22.3 million of revenue for the same period of 2015. Consolidated total revenue for the 12 months ended December 31, 2016 was approximately $90 million, an increase of 4% from pro forma revenue of approximately $86.5 million for the same period of 2015. Excluding OEM revenue from Zimmer consolidated total core revenue growth were 5.9% for the 12 months ended December 31, 2016 compared to 2015. Consolidated gross profit for the fourth quarter of 2016 was $17.5 million or 71.6% of revenue, compared to gross profit of $14.9 million or 67% of revenues for the fourth quarter of 2015. As I mentioned, the gross margin improvements were primarily the result of a higher production yield from donors as well as a higher average selling price for the company’s fiber and OsteoSelect products. For the year, consolidated gross profit was approximately $62.3 million compared with pro forma 2015 gross profit of $56.6 million. Gross margin for the year was 69.2% compared to 2015 pro forma gross margin of 65.4%, a growth of 3.8%. The company defines earnings before interest, taxes, depreciation and amortization or EBITDA as net income loss from operations before depreciation, amortization, impairment charges, non-recurring expenses and non-cash stock-based compensation. Consolidated EBITDA for the fourth quarter of…

Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your lines at this time. And have a wonderful day.