PetVivo Holdings, Inc. (NASDAQ:PETV) Q3 2023 Earnings Call Transcript

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They’re owned by NVA, National Veterinary Association. The parent actually owns 2,000 small animal vet clinics. So I feel we’ll give also an emphasis for the MWI sales reps to go into those clinics and start converting. So we’re seeing MWI really make good inroads in getting to the veterinary doctors because recent rounds of ordering have been very small unit volumes. So you usually see a vet order one to three syringes on their first turn, then 45 days later or a little longer, they get reports back from the owners of dog and the horses as much quicker, then the next turn, we see a larger order and then eventually, it gets up into 40, 50 units a month. So we’re seeing that kind of progression. We’re also seeing very good adoption rate. And what I mean by adoption rate is once the vet tries it to hook on the product because they’re seeing the benefits.

Does that answer your question?

Unidentified Analyst: Yes, that’s great. Thank you.

John Lai: Thank you.

Operator: We have a question from 9170.

John Lai: Go ahead. Hello.

Unidentified Analyst: Oh, I already spoke I’m not sure why it put me back in the queue.

John Lai: Okay, thank you.

Operator: 9081 would you like to say anything else. Okay now we have a new question from .

John Lai: Go ahead. Hello.

Operator: Fritz you are unmated if you like to ask your question.

John Lai: Is there another question may be we’ll move on he can log back in.

Operator: Yes I think, no that is the last one I believe from . Okay I think he logged out he now log back in.

John Lai: Okay, we’ll give him a minute. Well, while we’re waiting for them, I’ll just expand a little bit more on the milestones. Right now, we’re at a point, it’s just basically providing clinical evidence for the salespeople to convert more and more of the veterinary doctors into the channel purchasing our product. And in the small animal side, it’s all data-driven. So we feel pretty good with the seven studies we have that we have invested in from 2021 and 2022 that these will come to fruition here by the end of 2023 calendar. Do we have Axiom Capital back?

Operator: Yes, we do one moment.

John Lai: Okay.

Operator: Go ahead.

John Lai: It must be the Internet connect in New York. Sir, you are unmuted on our side, you’d like to ask a question.

John Lai: Well, if there are no more questions, we probably should – hold it, I got one coming being typed in. Hang on. No, we can’t hear you. So I got the text message asking if they could hear me, I go no.

Operator: I see some here in the chat box, if you’d like to address them. What was the dollar amount of the sell-through in Q3 at MWI?

John Lai: I already answered that one.

Operator: Okay. Are you saying that the Q3 MWI sold Spryng and then yes that’s other one.

John Lai: Yes. So we’re good. They’re having problems. They’re going to call me direct and ask whatever question they have.

Operator: Okay, thank you.

John Lai: So if there are no more questions, we can end this call. For everyone, thank you for attending. And operator, please officially end the call.

Operator: Goodbye.

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