LogicMark Inc (LGMK) 2022 Q4 法說會逐字稿

Good day, and thank you for standing by. Welcome to the LogicMark's Fourth Quarter and 2022 Financial Results and Corporate Update Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.

美好的一天，謝謝你的支持。歡迎來到 LogicMark 的第四季度和 2022 年財務業績和公司更新電話會議。 （操作員說明）請注意，今天的會議正在錄製中。

I would now like to turn the call over to Louie Toma from Core IR, the company's Investor Relations firm.

我現在想把電話轉給公司投資者關係公司 Core IR 的 Louie Toma。

Good afternoon, and thank you for participating in today's conference call. Joining me from LogicMark's leadership team are Chia-Lin Simmons, Chief Executive Officer; and Mark Archer, Chief Financial Officer.

下午好，感謝您參加今天的電話會議。與我一起來自 LogicMark 領導團隊的還有首席執行官嘉琳西蒙斯 (Chia-Lin Simmons)；和首席財務官 Mark Archer。

During this call, management will be making forward-looking statements, including statements that address LogicMark's expectations for future performance or operational results and anticipated product launches. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors described in LogicMark's most recently filed Annual Report on Form 10-K and subsequent periodic reports filed with the SEC and LogicMark's press release that accompanies this call, particularly the cautionary statements in it.

在此次電話會議中，管理層將發表前瞻性聲明，包括闡述 LogicMark 對未來業績或運營結果以及預期產品發布的預期的聲明。前瞻性陳述涉及可能導致實際結果與這些陳述存在重大差異的風險和其他因素。有關這些風險的更多信息，請參閱 LogicMark 最近提交的 10-K 表格年度報告和隨後向美國證券交易委員會提交的定期報告中描述的風險因素，以及隨本次電話會議發布的 LogicMark 新聞稿，尤其是其中的警告聲明。

The content of this call contains time-sensitive information that is accurate only as of today, March 28, 2023. Except as required by law, LogicMark disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call.

本次電話會議的內容包含時效性信息，截至今天，即 2023 年 3 月 28 日，這些信息都是準確的。除法律要求外，LogicMark 不承擔任何公開更新或修改任何信息以反映本次電話會議後發生的事件或情況的義務.

It is now my pleasure to turn the call over to the company's CEO, Chia-Lin Simmons.

現在我很高興將電話轉給公司首席執行官嘉琳西蒙斯。

Thank you, Louie. Welcome, everyone, and thanks for joining us. Our fourth quarter represents rebuilding period for the company as we focus on developing new innovative products and investing in our sales and marketing efforts to drive sustained growth and shareholder value.

謝謝你，路易。歡迎大家，並感謝您加入我們。我們的第四季度代表了公司的重建時期，因為我們專注於開發新的創新產品並投資於我們的銷售和營銷工作以推動持續增長和股東價值。

During the year, we added key expertise in sales and marketing roles that will help drive these initiatives. In September, we added John Federico as Senior Product Director. In this role, John has been focusing on managing our product development efforts as we work towards launching new leading-edge products. The extensive experience in product management with various technology companies, including Audible, Dell and Cisco, will be a significant asset as we bring new products to market.

在這一年中，我們增加了銷售和營銷角色方面的關鍵專業知識，這將有助於推動這些舉措。 9 月，我們任命 John Federico 為高級產品總監。在這個職位上，John 一直專注於管理我們的產品開發工作，因為我們致力於推出新的前沿產品。在包括 Audible、Dell 和 Cisco 在內的各種技術公司的產品管理方面的豐富經驗將成為我們將新產品推向市場的重要資產。

In October, Garett Hunter joined us as Senior VP of Marketing. Garett also has extensive experience with consumer product marketing companies with 20 years of relevant marketing experience as Senior Vice President of LifeMD, VP of Growth at UNI and co-founder of Gravity Brands and Vegamour. In December, we added Brady Farrell as VP of Sales, plus extensive sales experience of various med tech companies that will be key in helping LogicMark achieve its sales objectives.

10 月，Garett Hunter 加入我們，擔任營銷高級副總裁。 Garett 還擁有豐富的消費品營銷公司經驗，作為 LifeMD 的高級副總裁、UNI 的增長副總裁以及 Gravity Brands 和 Vegamour 的聯合創始人，擁有 20 年的相關營銷經驗。 12 月，我們任命 Brady Farrell 為銷售副總裁，加上在各種醫療技術公司的豐富銷售經驗，這將是幫助 LogicMark 實現其銷售目標的關鍵。

He come to us with a background in both large companies like 3M, where he was a regional sales director, to start-up medical device companies like Argon and Monarch. These strong additions to our team highlights our commitment to building new innovative products, as well as having the strong sales team that will take these new offerings in addition to our current best-selling products to market. The care economy represents a significant opportunity, and we are the only public pure play company dedicated to addressing those needs. We believe that our new products and our key hires position us to capitalize on that competitive advantage.

他來到我們這裡，曾在 3M 等大公司擔任區域銷售總監，也曾在 Argon 和 Monarch 等初創醫療設備公司擔任過工作背景。我們團隊的這些強大補充凸顯了我們致力於打造新的創新產品，以及擁有強大的銷售團隊，除了我們目前最暢銷的產品外，還將把這些新產品推向市場。護理經濟代表著一個重要的機會，我們是唯一一家致力於滿足這些需求的上市公司。我們相信，我們的新產品和關鍵員工使我們能夠利用這一競爭優勢。

Our Q4 revenue decreased from the high levels we experienced earlier in the year as we benefited from a boost in sales as U.S. Veterans Health Administration business and customers upgraded to 4G devices. With this upgrade cycle now complete, we expect future sales to be driven by the launch of new products, as well as new sales channels. We are confident that these new products will provide a competitive offering that will be well received in the market. We look forward to providing updates as we complete our product development and approach their launch. As a reminder, we launched a direct-to-consumer sales channel in July to enable customers to purchase directly from us. Revenue and AOV from this channel continues to rise, while media spend remains relatively flat, helping to increase margin.

由於美國退伍軍人健康管理局業務和客戶升級到 4G 設備，我們受益於銷售額的增長，我們的第四季度收入從今年早些時候的高水平有所下降。隨著這個升級週期的完成，我們預計未來的銷售將由新產品的推出以及新的銷售渠道推動。我們相信，這些新產品將提供具有競爭力的產品，並在市場上廣受歡迎。我們期待在完成產品開發並接近發佈時提供更新。提醒一下，我們在 7 月推出了直接面向消費者的銷售渠道，使客戶能夠直接從我們這裡購買。該渠道的收入和 AOV 繼續上升，而媒體支出保持相對平穩，有助於提高利潤率。

With implementation of new upsell cross-sell sale flows in December, we look to continue this trend moving into the rest of 2023. Additionally, we will be further extending our direct-to-consumer sales channel with the launch of the LogicMark Amazon store, which we expect to go live by the end of next month. As we continue to invest in our sales and marketing and new product initiatives, we did so in a prudent and cost-effective way with our additional focus on minimizing our corporate expenses.

隨著 12 月新的追加銷售交叉銷售流程的實施，我們希望將這一趨勢延續到 2023 年剩餘時間。此外，我們將通過推出 LogicMark 亞馬遜商店進一步擴展直接面向消費者的銷售渠道，我們預計將在下個月底上線。隨著我們繼續投資於我們的銷售和營銷以及新產品計劃，我們以審慎且具有成本效益的方式進行投資，同時我們更加註重最大限度地減少公司開支。

One way, we fortify our product development efforts to through the application for and receiving patents that will protect our position and investments made. These provisional applications include various techniques that one, ensure the quality of wellness care systems and delivery; two, incorporates various machine learning and AI techniques; and 3, focus on systems in support of wellness in multiparty interactions. True provisional patent applications were filed in the third and fourth quarter that focus on machine learning and AI, making about a total of 5 provisional patents filed in 2022 for the company.

一種方式是，我們通過申請和獲得專利來加強我們的產品開發工作，這將保護我們的地位和所做的投資。這些臨時應用程序包括各種技術，一是確保健康護理系統和交付的質量；第二，結合了各種機器學習和人工智能技術； 3，關注支持多方互動健康的系統。真正的臨時專利申請是在第三和第四季度提交的，重點是機器學習和人工智能，使公司在 2022 年總共提交了大約 5 項臨時專利。

In Q4, we also focused on starting to move some of those provisional patents into final filings in 2023. We expect to move 2 of those provisional patents into final patent filings in early 2023. We have experienced some delays in the launch of our new products that we are working through. We expect those will resolve within the next few quarters, and we are planning to bring our first software product to the market in Q2. With $7 million in cash as of December 31, 2022, and $5.2 million of gross proceeds that we raised in registered offering in January 2023, we are now well positioned to further execute our strategy as we launch new products and establish additional sales channels.

在第四季度，我們還專注於在 2023 年開始將其中一些臨時專利轉移到最終專利申請中。我們預計將在 2023 年初將其中 2 項臨時專利轉移到最終專利申請中。我們在推出新產品方面遇到了一些延遲我們正在努力。我們預計這些問題將在接下來的幾個季度內得到解決，我們計劃在第二季度將我們的第一個軟件產品推向市場。截至 2022 年 12 月 31 日，我們擁有 700 萬美元的現金，以及我們在 2023 年 1 月的註冊發行中籌集的總收益 520 萬美元，我們現在處於有利地位，可以在推出新產品和建立更多銷售渠道時進一步執行我們的戰略。

Our business plan is solid, and we believe that the coming (inaudible) driven by the growth in the elderly population and the presence to age out home, will create a perfect storm for our offerings. We are confident that as we execute we will become a leading provider of core solutions and services and expanding care economy.

我們的商業計劃是可靠的，我們相信，在老年人口增長和在家養老的情況下，即將到來的（聽不清）將為我們的產品創造一場完美的風暴。我們有信心，隨著我們的執行，我們將成為核心解決方案和服務以及不斷擴大的護理經濟的領先供應商。

I'll now pause and ask Mark Archer to discuss our 2022 financial results, and then I'll return to provide some closing remarks.

我現在暫停一下，請 Mark Archer 討論我們 2022 年的財務業績，然後我會回來提供一些結束語。

Thank you, Chia-Lin. Here are the financial results for the year ended December 31, 2022. The Revenue for the year ended December 31, 2022, was $11.9 million, up 19% from prior year. The increase in revenues resulted from improved sales, VA hospitals and clinics. Gross profit was $7.2 million for the year ended December 2022 versus $5.8 million in 2021 and an increase of 25%. Gross margin increased 300 bps to 60.7% from 57.7% in the prior year.

謝謝嘉琳。以下是截至 2022 年 12 月 31 日止年度的財務業績。截至 2022 年 12 月 31 日止年度的收入為 1190 萬美元，比上年增長 19%。收入的增加是由於銷售、退伍軍人醫院和診所的改善。截至 2022 年 12 月止年度的毛利為 720 萬美元，而 2021 年為 580 萬美元，增長 25%。毛利率從去年的 57.7% 增長 300 個基點至 60.7%。

Gross profit increased as a result of higher revenues and lower inbound freight costs. Total operating expenses increased 6% in fiscal year 2022, totaling $14.1 million compared to $13.3 million in fiscal 2021. Last year's our fiscal '21 results included a $4.5 million charge for goodwill impairment. Net loss attributable to common shareholders for the year was $7.3 million, versus a net loss of $14 million in fiscal '21, an improvement of $6.8 million.

由於收入增加和入境貨運成本降低，毛利有所增加。與 2021 財年的 1330 萬美元相比，2022 財年的總運營費用增加了 6%，總計 1410 萬美元。去年我們的 21 財年業績包括 450 萬美元的商譽減值費用。本年度歸屬於普通股股東的淨虧損為 730 萬美元，而 21 財年的淨虧損為 1400 萬美元，改善了 680 萬美元。

The results for the year ended December 31, 2021, included $2.9 million in warrant modification expense. Net loss per share improved from a loss of $2.25 per share in the fiscal year ended 2021 to a net loss of $0.76 per share in the year ended 2022, an improvement of $1.49 per share. Of that improvement, $0.40 per share was attributable to the 53% increase in common shares outstanding between the 2 years.

截至 2021 年 12 月 31 日止年度的業績包括 290 萬美元的認股權證修改費用。每股淨虧損從截至 2021 財年的每股虧損 2.25 美元改善至截至 2022 財年的每股淨虧損 0.76 美元，每股淨虧損 1.49 美元。在這一改善中，每股 0.40 美元歸因於兩年間流通在外的普通股增加了 53%。

Cash balance as of December 31 was $7 million before the addition of $5.2 million of gross proceeds raised in our January registered offering.

截至 12 月 31 日的現金餘額為 700 萬美元，之前我們在 1 月註冊發行中增加了 520 萬美元的總收益。

I'll now turn the call back to Chia-Lin.

我現在將電話轉回嘉琳。

Thanks, Mark. 2022 has been a busy year as we focus on innovating solutions that enable loved ones with safely in their own homes for ensuring that they're being properly monitored and appropriately cared for. We are LogicMark, are beyond excited about these opportunities and continue to work tirelessly to provide leading-edge solutions to address this evolving care economy.

謝謝，馬克。 2022 年是忙碌的一年，因為我們專注於創新解決方案，使親人能夠安全地呆在自己家裡，確保他們得到適當的監控和適當的照顧。我們是 LogicMark，對這些機會感到無比興奮，並將繼續不懈努力，提供領先的解決方案來應對不斷發展的護理經濟。

At this time, I will open the call to questions. Operator?

這個時候，我會打開提問的電話。操作員？

(Operator Instructions) Our first question comes from Allen Klee with Maxim.

（操作員說明）我們的第一個問題來自 Allen Klee 和 Maxim。

Can you talk a little about your new product strategy and how you plan to -- what do you think the competitive advantages of the products are in the go-to-market strategy?

你能談談你的新產品戰略以及你打算如何 - 你認為產品在上市戰略中的競爭優勢是什麼？

Sure. Allen, great to chat with you. So one of the things that we're looking at is trying to bring some of those IoT capabilities and machine learning and AI into a particular sort of products offerings. And so today, if you look at the majority of the technologies, what we're seeing lacking primarily is a couple of different things. First, I want to talk about fall detection. So fall detection today typically utilizes things such as accelerometer and gyroscope, speed and tilt.

當然。艾倫，很高興和你聊天。因此，我們正在研究的一件事是嘗試將一些物聯網功能、機器學習和人工智能引入特定類型的產品中。所以今天，如果你看一下大多數技術，我們看到的主要是缺乏一些不同的東西。首先，我想談談跌倒檢測。因此，今天的跌倒檢測通常使用加速度計和陀螺儀、速度和傾斜度等東西。

So we're -- we actually have the patent on adding additional multifactor sort of sensor capabilities into a PERS device, including the capability to have an altitude rear, allowing us to lead the distance between sort of where you were, to where you sort of ended up as a device. And so think about this as tilt, speed and distance. And so that provides a much better accuracy around what is fall -- what really is a fall versus potentially you just sitting down too quickly. And so adding those sort of features around machine learning and AI is one of the ways for us to actually fine-tune that while detection to really be personalized to the individual, as well as giving us the capability to also take the aggregate data and be able to sort of learn more on how your sort of pattern of movement and so forth compared to those where we have similar age and perhaps the health background.

所以我們 - 我們實際上擁有在 PERS 設備中添加額外的多因素傳感器功能的專利，包括具有高度後方的能力，使我們能夠引導您所在位置與您所在位置之間的距離最終成為一個設備。因此，將其視為傾斜度、速度和距離。因此，這提供了關於什麼是跌倒的更好的準確性——什麼是真正的跌倒，而不是你可能只是坐得太快。因此，圍繞機器學習和 AI 添加這些功能是我們實際微調檢測的一種方式，同時檢測真正針對個人進行個性化，並使我們能夠獲取匯總數據並成為與我們具有相似年齡和健康背景的人相比，能夠更多地了解您的運動方式等。

And so for example, we're able to -- as we sort of learn more of your capability and we start adding some of these features into the new products, be able to say, look, on Tuesdays and Thursdays, looks like you're falling, we check in with you and looks like it's not to fall, but it happens at 10:00 at this geographic location, it looks like it's a yoga studio. So on Tuesdays and Thursdays, what seems to be a fall is not a fall. So eliminating some of those issues related to false positives when it comes to reasons why people don't actually want to wear a device because these devices go off all the time, thinking that you've fallen and it causes a bit of a nuisance for a lot of people who wear them.

因此，例如，當我們更多地了解您的能力並開始將其中一些功能添加到新產品中時，我們能夠 - 能夠在周二和周四說，看起來，看起來像您'摔倒了，我們跟你核對了一下，貌似不會摔倒，但是發生在這個地理位置的10:00，貌似是瑜伽館。所以在星期二和星期四，看似秋天的不是秋天。因此，當涉及到人們實際上不想佩戴設備的原因時，消除了一些與誤報相關的問題，因為這些設備一直在關閉，認為你已經跌倒了，這對很多人穿它們。

And so what we're really trying to do is to learn your patterns and understand basically how best to sort of manage your experience as well as also, again, aggregate and sort of learn around that. So machine learning and AI is very crucial to that. And we think that, that's really something that we're not seeing in the market today.

因此，我們真正想做的是學習您的模式，並基本上了解如何最好地管理您的體驗，以及再次匯總並圍繞它進行學習。所以機器學習和人工智能對此非常重要。我們認為，這真的是我們今天在市場上看不到的東西。

Secondarily, you'll see that all of our new products moving forward will include new sort of hardware features that make it much more modern in terms of sharing data, for you to share data with us, and for your caretakers to check in with you and get the much more interactive experience, so that we can add that to a better learning and understanding of who you are from a health communications perspective.

其次，您會看到我們所有向前發展的新產品都將包含新型硬件功能，這些功能使它在共享數據方面更加現代，您可以與我們共享數據，也可以讓您的看護人與您聯繫並獲得更多的互動體驗，這樣我們就可以從健康傳播的角度更好地了解和了解你是誰。

And so instead of now being a reactive technology like a lot of these enhanced products are in the marketplace, we're obviously working to get you to help that you need quickly as possible, but we're also trying to be reactive -- and be proactive. So via a technology that is checking in on your health and allowing your caretakers to check in on your health more actively versus just basically responding where you're having an emergency situation. And so it becomes a much more comprehensive technology product.

因此，我們現在並沒有像市場上的許多增強型產品那樣成為一種反應性技術，我們顯然正在努力讓您盡快為您提供所需的幫助，但我們也在努力做出反應——而且主動。因此，通過一種檢查您的健康狀況並允許您的看護人更積極地檢查您的健康狀況的技術，而不是僅僅在您遇到緊急情況時做出基本響應。因此，它成為一種更加全面的技術產品。

How we sort of also win here is that a lot of these technology companies or a lot of these companies that were competing against in this particular category space, they don't have to make their own technology. They tend to buy them off the shelf, which is great. But we -- our technology is somewhere building our own technology. So that means that we're building our own AI algorithm, we're building our own user experience that is more conducive to an end user, your elderly loved ones so that user experience is much more positive towards somebody who is aging. As well as a user experience that is conducive to a multicare taker environment, whether or not that be a family of 3 or 4 whether or not it's a family of 3 or 4 in the next door neighbor and the professional care taker, right? Because there's a lot of coordination that's involved.

我們在某種程度上也在這裡獲勝的方式是，很多這些技術公司或很多在這個特定類別空間競爭的公司，他們不必製造自己的技術。他們傾向於購買現成的，這很好。但是我們 - 我們的技術正在構建我們自己的技術。所以這意味著我們正在構建我們自己的人工智能算法，我們正在構建我們自己的用戶體驗，它更有利於最終用戶，你的年長親人，這樣用戶體驗對老年人來說更加積極。除了有利於多護理環境的用戶體驗外，無論是 3 口之家還是 4 口之家，無論是隔壁鄰居的 3 口之家還是 4 口之家和專業護理人員，對嗎？因為涉及到很多協調。

And so we're really focused on trying to bring a comprehensive technology suite to the market versus basically, hey, we're a monitor focused company and here is independent product that we didn't build, that we're going to make offerings to you, and we'll connect our sort of call services to you, instead offering product that have the same user experience across the board. So we don't have to relearn that, but also have a really wonderful sort of caretaker experience, as well because we know that at the end of this sort of product, it's not just about people who are wearing the devices, but it's also the people who care about them, the sandwich generation who also wanted to make sure that their family members are safe and now coordinating their care.

因此，我們真正專注於嘗試將全面的技術套件推向市場，而不是基本上，嘿，我們是一家專注於顯示器的公司，這是我們沒有構建的獨立產品，我們將提供這些產品給你，我們會將我們的呼叫服務連接到你，而不是提供具有相同用戶體驗的產品。所以我們不必重新學習它，但也有一種非常美妙的看守體驗，因為我們知道在這種產品的最後，它不僅僅是關於佩戴這些設備的人，而且它也是關心他們的人，三明治一代也想確保他們的家人安全，現在正在協調他們的護理。

And so we go into this, as we spoke about since we've taken over the company was this idea of having a CPaaS system, a caring platform as a service of offering a really comprehensive capability to the care economy versus sort of things that you pull together randomly on different sort of offerings and products. I hope that's helpful.

所以我們進入這個，正如我們談到的，因為我們已經接管了公司，這個想法是擁有一個 CPaaS 系統，一個護理平台即服務，為護理經濟提供真正全面的能力，而不是你的東西隨機收集不同種類的產品和產品。我希望這會有所幫助。

I'm curious when you've done your market research, what has -- people who are in the market to buy, what do they say is the most important things? And how do you think you've addressed that?

我很好奇你什麼時候做了市場調查，市場上購買的人，他們說什麼是最重要的？你認為你是如何解決這個問題的？

Yes. Some of the most important things that is -- and you have to take a look at customers and sort of 2 different sort of groups. First is the end user, right? The people who are actually wearing the devices. So they want to device that is much better about getting rid of false positives, right? They don't want to wear a device that constantly goes off, that force the system to turn off fall detection because fall detection is faulty, right? And so it's going off at the time, and it makes them feel very inconspicuous when their randomly walking and they might just slow down and it triggers something. So that's really like always a first concern to people that these false positives happens quite frequently.

是的。一些最重要的事情是 - 你必須看看客戶和 2 個不同類型的群體。首先是最終用戶，對吧？實際佩戴設備的人。所以他們想要更好地消除誤報的設備，對吧？他們不想佩戴一個不斷關閉的設備，因為跌倒檢測有故障而迫使系統關閉跌倒檢測，對吧？所以它當時正在關閉，這讓他們在隨機行走時感覺非常不起眼，他們可能會放慢速度並觸發一些東西。因此，這些誤報經常發生，這真的是人們最關心的問題。

Secondarily is that these devices, the way they look, the way they feel make people feel old and they don't want to wear it. And so that they don't feel like they are the people who need these types of "devices", which is just unsightly, right? And so they care about not feeling like they're sticking out and making them feel like they're elderly even so they need a little support, right? And so redesigning these assets. So they look like just that everyday type of technology that you and I and all of us carry within our lives, make it easier for this to be adopted by those who need it the most.

其次是這些設備，它們的外觀和感覺讓人覺得老了，不想戴了。這樣他們就不會覺得自己是需要這些類型的“設備”的人，這很不雅觀，對吧？所以他們關心的是不要讓他們覺得自己很突出，讓他們覺得自己已經老了，所以他們需要一點支持，對吧？因此重新設計這些資產。因此，它們看起來就像是您和我以及我們所有人在生活中攜帶的日常技術，使最需要它的人更容易採用它。

And if you look at the people who are actually the caretakers, the sandwich generation, the 1 in 4 millennials and half of GenXers we always talk about, for them, it's about how do I offer something that is comprehensive. So my parents, I can monitor them without feeling like I'm overwhelming them like big brother. So that means that we give them the capability to sort of understand that the parents are safe without feeling that they're intruding. And so we do that by basically not turning on certain features that may seem intrusive until we need it, right? A fall incident occurs, the button is pushed so that it's not like there's a camera turned on in your home constantly so that you have the brother looking at you because that's one thing that I think both the caretakers and the loved ones do not want to have.

如果你看看那些實際上是看護人的人，三明治一代，四分之一的千禧一代和一半的 GenXers 我們總是談論，對他們來說，這是關於我如何提供全面的東西。所以我的父母，我可以監督他們，而不會覺得我像大哥一樣壓倒了他們。所以這意味著我們讓他們能夠在某種程度上理解父母是安全的，而不會覺得他們在打擾。因此，我們通過在需要之前基本上不打開某些可能看起來具有侵入性的功能來做到這一點，對嗎？發生墜落事件，按下按鈕，這樣就不會像你家裡的攝像頭一直開著，讓你的兄弟看著你，因為我認為看護人和親人都不想看到這一點有。

Secondarily is that they're constantly coordinating care. Caretaking can be a very lonely process and it's also one that's very complex. And so how do they coordinate care with a professional caretaker of their out of state to sort of sharing this responsibility among family members and next door neighbors that becomes extremely unwieldy experience and so they're very interested in having a system that allows them to be able to sort of organize effectively being that key. And then the third piece for both parties is the idea of having security and safety even when things may not go quite right. And I call that the triple protection, which is generally speaking now for the people who are using the products, they want to know that if they need it, somebody is there.

其次是他們不斷協調護理。照顧可能是一個非常孤獨的過程，也是一個非常複雜的過程。因此，他們如何與外州的專業看護人協調照顧，以便在家庭成員和隔壁鄰居之間分擔這種責任，這變得極其笨拙，因此他們對擁有一個允許他們的系統非常感興趣能夠有效地組織起來是關鍵。然後，雙方的第三點是即使事情可能不太順利，也要有保障和安全的想法。我稱之為三重保護，現在一般來說是對使用這些產品的人來說，他們想知道如果他們需要它，有人在那裡。

And so if I'm a loved one, elderly loved one, maybe sometimes my son is in a meeting and he has his phone turned off. And so if I have an emergency, I cannot reach him. So but now what? And so having the capability to say, look, if I cannot reach my son, who is typically my caretaker then I know that I'm going to be protected because this -- my device will bump into my next person who's a caretaker. And if that person can't be reached, I can go to a 24/7 monitor service where I could go directly to 911.

因此，如果我是我的親人，年長的親人，也許有時我的兒子正在開會，他的電話關機了。因此，如果我有緊急情況，我無法聯繫到他。那麼現在呢？因此，如果我無法聯繫到通常是我的看護人的兒子，那麼我就有能力說，我知道我會受到保護，因為這——我的設備會撞到我的下一個看護人。如果無法聯繫到那個人，我可以使用 24/7 監控服務，在那裡我可以直接撥打 911。

I call it the triple protection, right? So they want to know that there's a comprehensive capability to be covered. And not only does that make the end user comfortable, but it also makes their caretakers comfortable that in the off chance that they are in a bad phone zone or they're in a meeting that their loved one or the parent has always taken care of. So those are the things that matter the most to them. That's what we sort of rolled out in our rolling out.

我叫它三重保護，對吧？所以他們想知道有一個全面的能力要涵蓋。這不僅讓最終用戶感到舒服，而且還讓他們的看護人感到舒服，因為如果他們處於電話不暢的區域，或者他們正在開會，而他們的親人或父母一直在照顧他們.所以這些對他們來說是最重要的。這就是我們在推出時推出的東西。

Very interesting. How do you think about the best way to -- or what your marketing strategy, sales and marketing would be for this year?

很有意思。你如何看待最好的方式——或者你今年的營銷策略、銷售和營銷是什麼？

Yes, that's a really great question. And so we are continue -- we continue to be bullish on sort of going into the B2C market, of course. Assuming that the cost is not overwhelming, and mainly because that B2C experience is so crucial, people want to know who's taking care of their loved one. And so they need to have that sort of direct experience with us. They need to know that we have excellent customer service. And the only way you're going to experience that is to have a direct relationship with us. And that's through our service and through our amazing customer support staff and through a web experience -- comprehensive web sort of contract and experience with us. And so that's really the key. And we'll be doing what we would say is typically sort of where we need to reach our audience. I mean the reality of this is that most people who are buying these products, the people we really mostly need to reach is actually the people who are caretakers.

是的，這是一個非常好的問題。所以我們繼續 - 當然，我們繼續看好進入 B2C 市場。假設成本不是很高，主要是因為 B2C 體驗非常重要，人們想知道誰在照顧他們所愛的人。因此，他們需要與我們有那種直接的體驗。他們需要知道我們擁有出色的客戶服務。你要體驗的唯一方式就是與我們建立直接關係。這是通過我們的服務、通過我們出色的客戶支持人員以及通過網絡體驗——與我們簽訂的全面網絡合同和體驗。所以這才是真正的關鍵。我們會做我們所說的通常是我們需要接觸觀眾的地方。我的意思是，現實是大多數購買這些產品的人，我們真正最需要接觸的人實際上是看護人。

So they're the ones who's doing research for their parents because probably like a lot of parents, they don't think that they need devices right now, the children, it's the Gen Xers and the millennials who are doing that research initially, and so we're trying to find them where they are. They're all clustered around caring for elder loved ones and with Facebook groups. And they are clustered around sort of discussion areas, and all the different ways that people are looking to connect with other people with similar concerns. And so we are really trying to reach out to them in those channels, specifically for B2C. When it comes to basically B2G, we continue to be -- we continue to grow that path. We're very excited with as we roll out our monitor services to be going directly into the states and municipalities. We've mentioned the sort of the hiring of our VP of Sales. He has been extremely aggressive in hiring some of the best sales people I've seen in the marketplace.

所以他們是那些為他們的父母做研究的人，因為可能像很多父母一樣，他們認為他們現在不需要設備，孩子們，最初做這項研究的是 X 一代和千禧一代，而且所以我們試圖找到他們所在的地方。他們都聚集在照顧年長的親人和 Facebook 群組中。他們聚集在某種討論區域，以及人們希望與有類似問題的其他人聯繫的所有不同方式。因此，我們真的在努力通過這些渠道與他們聯繫，特別是針對 B2C。當談到基本上 B2G 時，我們繼續 - 我們繼續發展這條道路。當我們推出我們的監控服務以直接進入各州和市政當局時，我們感到非常興奮。我們已經提到了我們的銷售副總裁的聘用。他非常積極地聘請了一些我在市場上見過的最優秀的銷售人員。

And I'm very excited that not only are there amazing sales team, some of them are veterans, and they are -- understand the needs of our customers and both sort of on the sales side, as well as the end user side. So they're aggressively growing our B2G footprint by visiting every clinic. There's thousands out there that we still need to talk to, as well as actually starting that initial foray into discussions on the B2B side with distributors and people who are operators of in-home networks for care, as well as retirement communities because, again, some of our services that we're going to be rolling out really tied to these particular products and having the monitor services tied to those in-home care facilities and partners.

我很高興不僅有出色的銷售團隊，其中一些是資深人士，而且他們 - 了解我們客戶的需求，以及銷售方面和最終用戶方面的需求。因此，他們通過訪問每個診所積極擴大我們的 B2G 足跡。我們仍然需要與數以千計的人交談，並且實際上開始與經銷商和家庭護理網絡運營商以及退休社區進行 B2B 方面的初步討論，因為，再次，我們將要推出的一些服務確實與這些特定產品相關聯，並將監控服務與那些家庭護理設施和合作夥伴相關聯。

So we've actually done initial rollout and showing of the initial products to some of these folks, and we're getting extremely good feedback, not just from our government partners, but as well as other B2B customers as well, potential customers as well.

所以我們實際上已經完成了最初的展示，並向其中一些人展示了最初的產品，我們得到了非常好的反饋，不僅來自我們的政府合作夥伴，還來自其他 B2B 客戶，還有潛在客戶.

Thank you. And this concludes the Q&A session. I'd now like to turn the call back over to Chia-Lin for any closing remarks.

謝謝。問答環節到此結束。我現在想將電話轉回給嘉琳，聽取任何結束語。

I want to thank all of you who participated in our call today. I look forward to continuing to provide updates on our progress at the appropriate time. Thank you so much.

我要感謝今天參加我們電話會議的所有人。我期待著在適當的時候繼續提供有關我們進展的最新信息。太感謝了。

Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect.

謝謝。今天的電話會議到此結束。感謝您的參與。您現在可以斷開連接。