Milestone Scientific Inc. (AMEX:MLSS) Q4 2022 Earnings Call Transcript

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Mike Pfeffer: But I guess the takeaway, though, I heard from you is that you — I can expect from your comments or we can expect from your comments that other clinics will be putting in more claims as well beyond these 2 that there’s other things in motion that there’ll be a greater volume going — occurring going forward at some point. Is that reasonable to say?

Arjan Haverhals: That’s absolutely correct.

Mike Pfeffer: Okay. And then the last question, the SAM approval, like, what’s the potential timing? Like how long could that take? Can you give us any color on that?

Arjan Haverhals: Yes. So the SAM approval, so we are approved for SAM, and SAM is one step in the entire process to be approved as a vendor or supplier or having access to the government business. So I always explain it in the following way. The SAM gives a license to hunt, but you still need the federal supply schedule. You need to be at the federal supply schedule and why is that important? Because that would mean that all the VA and the special operations of the Department of Defense, that would mean that you are approved, but more importantly, also the price is set. And so you would not have any — if a VA sees that we are on the FSS so that our technology on the FSS, there is no discussion about the pricing, and there’s no discussion about being approved as a technology for the DoD.

Of course, you still need to work with partners that have access to the VA and you still have to present the product and demo the product and evaluate the product, et cetera, et cetera. But there, I believe that we are in a good spot to have access to these VAs. But still, there’s work to be done.

Mike Pfeffer: So then just on the federal supply schedule, can you give us any color on the timing of that? How long did that take?

Arjan Haverhals: Yes. Again, it is the same thing that the discussion that I had with you and other people about the FDA. The FDA normally has a timing schedule. Let me put it in this way. Without promising, I expect that in the near future and potentially, I believe that, that would come perhaps somewhere within the second quarter.

Mike Pfeffer: Okay. That sounds very promising.

Arjan Haverhals: But again, you ask me the question what I believe. I’m not making a promise and I’m not saying that, that will be the case.

Operator: We have reached the end of the question-and-answer session, and I will now turn the call over to management for closing remarks.

Arjan Haverhals: Yes. Thank you all for your time. I do believe that you would be in agreement with me and with management that — the Company is in a good position, and we are executing on the strategies that we have identified. I really thank you for your time. I am appreciative of the quality of the questions that were raised. In case you have any further questions and you want to contact management outside of the normal earnings call, we are approachable. And I wish you a Good Friday and a good weekend, and please do stay safe and to be continued and looking forward to our conversations in the future. Have a great day. Thank you so much.

Operator: This concludes today’s conference, and you may disconnect your lines at this time. Thank you for your participation.

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