John Dolan: Afternoon, everyone. Thank you for joining us today to discuss our results for our fiscal year 2026, ended March 31st, 2026. Before we begin, I'd like to direct your attention to the forward-looking statements slide displayed on your screen. Hosting the call today is our Chief Executive Officer, John Lai, and our Chief Financial Officer, Garry Lowenthal, as well as myself, John Dolan, PetVivo's Chief Business Development Officer and General Counsel. Following our remarks, we'll open the call to your questions. Our fiscal 2026 represented another year of rapid transformation, IP and product development, and platform commercialization. We continued to focus our corporate resources and unique IP on the greatest opportunities in our marketplace. We remain razor-focused on our primary objective, which is the pursuit of creating strong, high-margin, recurring revenue streams to support the highest valuation of our company for the benefit of our stakeholders. The strong clinical validation and increasing market adoption of our flagship product, Spryng, with OsteoCushion technology, has brought us far along in our journey, setting the stage for the launch of new technologies and products for both animal and human applications. The year was highlighted by tremendous progress with new strategic alliances, including Digital Landia, an industry-leading pioneer in agentic AI solutions, with whom we have an exclusive 10-year white label licensing agreement for their breakthrough next-generation AgenticPet technology. This technology features specialized diagnostic AI agents protected by proprietary IP and five patent-pending innovations, addressing critical challenges facing veterinarian practices, including skyrocketing client acquisition costs and the challenge of capturing the fast-growing Gen Z pet parent demographic. Based on this partnership, we publicly launched a beta program of our new PetVivo.ai veterinary practice platform, exclusively powered by AgenticPet technology. PetVivo.ai is a new AI-powered software-as-a-service platform for veterinarians that we believe is the first of its kind on the market, employing automated AI-powered engagement that intelligently converts potential customer leads into paying veterinary customers. Our initial beta group has provided tremendous positive feedback and impressive results. PetVivo.ai has demonstrated a remarkable 50% to 90% reduction in veterinary customer acquisition costs, lowering it from the $80 to $400 typically spent on each new customer down to less than $43. This complements our medical device offerings marketed to thousands of veterinary clinics across North America and Europe, and creates new inroads for Spryng adoption. Importantly, PetVivo.ai also creates a new recurring revenue stream with very high 80% to 90% gross margins along with low CapEx scalability. Final training of its AI engine is underway using real-world scenarios from our beta users, with official commercial launch expected within the next few months. In support of the launch, Digital Landia published a comprehensive technical whitepaper documenting the AgenticPet AI framework, validating the technical foundation underlying this new B2B platform. We expect PetVivo.ai to rival adoption of other mainstream AI applications and create new visibility for our brands, particularly Spryng with OsteoCushion technology and several new pipeline solutions. We also launched an online video explainer showing how PetVivo.ai connects pet parents with veterinary practices. On other key partners — we continue to advance our partnership with Austin, Texas-based Veterinary Growth Partners, a management services organization helping veterinary practices improve efficiency and profitability. VGP is committed to actively promoting Spryng with OsteoCushion technology to its network of more than 7,300 veterinary clinic members across the U.S. We've been focused on product training for their network, with plans to introduce PetVivo.ai to their clinic membership following the Spryng training period. During the last quarter of our fiscal year, we completed the majority of Stage B of our three-part R&D program with PiezoBioMembrane. As a spin-off from the University of Connecticut, PBM has been advancing patented biodegradable piezoelectric materials for implantable and regenerative applications designed to promote regeneration, restoration, and remodeling of damaged or injured tissue and bone. Stage A determined our respective products could be combined into a single offering with enhanced piezoelectric activity providing potential therapeutic benefits. Stage B determined the combined offering could be produced at scale and provided preliminary indications of safety for administration in animals. Stage C will definitively determine safety and efficacy, and this will proceed more quickly given last week's announcement of the acquisition of PiezoBioMembrane as a newly wholly-owned subsidiary of PetVivo. PBM brings an advanced technology platform with proprietary know-how, licensed intellectual property rights, patents and patent applications, trade secrets, biomaterials, formulations, regulatory assets, manufacturing information, development materials, and clinical information, supporting our development of functional biomaterials, medical devices, and therapeutic applications for animal and human health. The PBM acquisition represents a transformative step in our long-term growth strategy. By combining PBM's scientific innovations with our existing product development, commercialization, regulatory expertise, and public company infrastructure, we expect to accelerate the advancement of technologies that will serve as the foundation for numerous future products. The combined platform also creates new opportunities for government and private development grants, research collaborations, and R&D tax credit programs. Completion of the acquisition is subject to customary closing conditions, including completion of due diligence, satisfaction of specified closing obligations, and completion of certain financing activities currently underway and advancing smoothly. Now, I would like to turn the call over to our CFO, Garry Lowenthal.
Garry Lowenthal: Thank you, John, and good afternoon, everyone. Revenues for the year increased 1% to $1.14 million, consisting of sales of Spryng and PrecisePRP products — distributor network sales totaling $886,000 and direct sales to veterinary clinics totaling $255,000. This compares to the previous year, where sales consisted entirely of Spryng, with distributor sales totaling $956,000 and clinic sales at $176,000. We had a special promotion with distributors and vet clinics for Spryng in Q3 fiscal 2025, which was not repeated in Q3 fiscal 2026, leading to proportionally lower Spryng sales. We also believe lower Spryng sales were due to customers opting to use PrecisePRP alone rather than in conjunction with Spryng, despite the benefits of using them together. Our renewed efforts to educate customers on Spryng's benefits, combined with sales force expansion, have restored greater Spryng sales, and we expect this improvement to continue. Gross profit for fiscal year 2026 totaled $754,700, or 66.1% of revenues, a decrease from $994,900 or 87.8% of revenues in the previous year. The decrease was due to the low gross margin associated with PrecisePRP sales per our license agreement with VetStem. We were still able to maintain fairly good overall gross margin despite the lower-margin product mix. In addition to lower-than-expected market acceptance for PrecisePRP, the low gross margins are one of the primary reasons we decided to renegotiate our VetStem partnership and evaluate the long-term viability of selling PRP under the current licensing arrangement. We have entered negotiations for a transition agreement with VetStem, currently underway. We anticipate higher gross margin going forward with our sales force and distributors now focused on generating greater Spryng sales, with margins exceeding 90%. Total operating expenses in fiscal 2026 increased 8% to $9.8 million, primarily due to a loss on impairment for the PrecisePRP product line. Sales and marketing expense increased 16% to $3.1 million related to PrecisePRP commercialization, offset by a 10% reduction in general and administrative costs and an 11% reduction in R&D expense. We also took a $1 million impairment expense for PrecisePRP due to lower-than-expected market acceptance. Our operating loss increased 8.5% to $9.1 million, contributing to a net loss for fiscal 2026 of $10.5 million, or $0.38 per share, compared to a net loss of $8.4 million, or $0.41 per share, in the prior year. The net loss also reflected increased other expenses including unrealized loss on change in derivative liabilities, loss on disposal of assets, amortization of debt discount, and interest expense on convertible notes. Net cash used in operating activities during the year totaled $6.1 million, compared to $5.3 million in fiscal 2025, primarily due to an increase in inventory ramp-up of the PrecisePRP product line, an increase in stock-based compensation expense, and the $1 million impairment loss related to the VetStem license agreement, partially offset by a decrease of accounts payable and accrued expenses of $649,000 compared to $271,000 last year. On the balance sheet — current assets totaled $1.8 million at March 31st, 2026. Current liabilities were substantially reduced to $1.4 million from $4.3 million at the end of the prior year, a decrease of 68%. Total liabilities decreased 80% from $5.1 million to $1.4 million. This significant improvement was due to the conversion of $1.6 million of convertible debt, a $798,000 reduction in long-term lease obligations from a lease termination, a $274,000 reduction of accounts payables from settlement payments with trade vendors, a $495,000 reduction in accrued expenses, and the extinguishment of $440,000 in derivative liabilities. Accounts payable decreased 33% from $821,100 to less than $547,400. This highlights the strongest balance sheet we've had in many years. In the final quarter of fiscal 2026, we raised additional capital from the exercise of warrants and the sale of equity securities, bringing in net proceeds of $877,500. This brought our working capital to $482,600 as of March 31st, 2026. This completes our financial review for the year. John?
John Dolan: Thank you, Garry. Throughout fiscal 2026, Spryng continued to receive favorable reports from veterinarians, especially regarding ease of use and effectiveness in managing osteoarthritis in horses and companion animals. Health Canada officially recognized PetVivo's Spryng with OsteoCushion technology as a veterinary medical device, initiating our commercialization efforts in Canada. We believe this is the first such recognition by an international regulatory body of a veterinary hydrogel medical device, representing a major milestone in our global commercialization strategy. It has paved the way for the commercial rollout of Spryng in Canada, which we are preparing to launch near the end of July, including developing French-translated product labeling and a distributor network in Canada similar to the U.S. The Canadian animal healthcare market is reportedly growing at a 6.8% CAGR and is expected to exceed $4.4 billion by 2031, and we believe we have meaningful first-mover advantage. We continue to hear from veterinarians and distributors about substantial pent-up demand for this Health Canada-recognized product. We also believe we have a competitive advantage with our clinical studies, particularly canine studies demonstrating advantages over competitive products, including a better long-term safety profile. During the year, we continued to advance our strategic collaboration with Commonwealth Markets, the syndicated ownership group behind the 2023 Kentucky Derby winner, which has integrated Spryng into the care protocols of its top-tier thoroughbred stables to promote joint health, extend performance longevity, and support recovery. This adoption represents strong validation of Spryng's effectiveness and we believe will open doors to other significant opportunities. We continued expanding awareness of Spryng among key decision-makers, presenting at the Florida Veterinary Medical Association Ocala Equine Conference, the American College of Veterinary Sports Medicine and Rehabilitation Symposium in Lexington, Kentucky, and the International Veterinary Academy of Pain Management Forum in Dallas, Texas. We plan to exhibit at several more conferences later this year. We currently have additional canine and equine studies for tolerance and efficacy of Spryng in initial stages of development. We also continue to advance our pipeline of new products, greatly expanded with the PBM acquisition last week, including new functional biomaterials and tissue and bone-mimicking biomaterials that may enhance pharmacological agent delivery and promote regeneration of damaged tissue and bone. Our collagen-elastin hydrogel particles, or CEHM, when combined with PBM technology, create structure and scaffolding to assist the body in restoring and remodeling natural tissue. This includes potential applications using nebulizer-based delivery for the respiratory system, topical treatments for ocular ulcers, and wound treatment, potentially delivering existing FDA-approved antibiotic, antiviral, and anesthetic substances. In May, we were invited to present at the Market Movers Investor Summit at the historic Bank of New York, providing an opportunity to elevate awareness of the company in the institutional investor community, featuring a fireside chat by Alex Rodriguez, Founder, Chairman and CEO of A-Rod Corp. Also during the final quarter of the fiscal year, Digital Landia launched its public access beta to its D2C AgenticPet solution for pet owners, designed to educate and engage pet owners while serving as a gateway to the planned B2B veterinary platform. The B2B launch will include access to specialized AI agents covering veterinarian, behavioral science, nutrition, genetics, vaccination, training, radiology, and blood, fecal and urinalysis functions, assisting veterinarians in proactively diagnosing conditions like osteoarthritis and lameness and suggesting treatment options. AgenticPet's AI-powered diagnosis boasts 97% accuracy. The solution targets Gen Z-ers, who represent 20% of U.S. pet households with ownership growing more than 43% annually. Digital Landia reported the public B2C beta launch onboarded more than 1,000 active beta users in less than 72 hours, demonstrating pent-up demand for AI-driven preventive pet healthcare. This successful beta program is anticipated to strengthen the value proposition of our PetVivo.ai B2B SaaS service. PetVivo.ai has achieved several important technology milestones, deploying a highly resilient AI infrastructure, developing a proprietary AI platform with persistent patient memory, and introducing smartphone-based diagnostic capabilities that have the potential to significantly expand access to veterinary care. The platform has also launched a data monetization framework allowing veterinary professionals to participate in value generated from anonymized health data while integrating seamlessly into existing practice management systems. We believe PetVivo.ai is well-positioned to become an important data infrastructure platform serving veterinarians, pharmaceutical companies, and research organizations. Looking ahead, we expect continued sales momentum and market penetration through fiscal 2027 and beyond. Industry analyses say the U.S. animal market alone will double to $11.3 billion by 2030, providing an exceptional tailwind. As we continue to grow, we remain committed to advancing the best pet health solutions and ensuring our products reach more veterinary professionals and pet owners. Now, I would like to turn the call over to our CEO, John Lai.
John Lai: Thank you, John. One of the first things I'd like to bring up is our new Tier 1 AI IR marketing program. We have put it in place for close to 90 days, and we have well over 30,000 people or emails that have agreed to get updates as we do updates to shareholders, building a large base of interested people on what's happening with PetVivo, with extremely low customer or potential shareholder acquisition costs. John Dolan's done a very good job talking about Digital Landia, PetVivo.ai, and other components coming in. One key catalyst as we move forward to year-end is our animal studies with Powell Diazo and the University of Connecticut. We anticipate these large animal studies to be completed right around calendar year-end for dogs and horses, giving us powerful marketing data for the veterinarian market as we position IDE filings into the human market for Spryng and the nanofiber technology. I'd like to open it up now to Q&A.
Operator: Everyone that joined over the phone, please dial star nine to raise your hand, or if you joined over the computer, please go to the toolbox and react with raise hand.
John Lai: Well, if we don't have any questions, I'll just give a quick summary. We anticipate development of additional products, so keep an eye on our website or get on the AI IR program, where we'll update you with timetables of additional products coming in for both the human and animal side. We anticipate over the next 12 months there will be a lot of news announcements and continued updates. If there's no more questions, I will turn it over to John Dolan to provide a wrap-up, and thank you everyone for joining us on the call.
John Dolan: Before we conclude today's call, I would like to provide the company's safe harbor statement that includes cautions regarding forward-looking statements made during today's call. The information provided includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's future revenue, plans, objectives, expectations and events, assumptions and estimates. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Actual outcomes may differ materially from what is expressed. Factors that could cause such differences are detailed in the company's periodic report filings with the SEC, including the annual report on Form 10-K and quarterly reports on Form 10-Q. Any forward-looking statements made during this call speak as of today's date, and the company expressly disclaims any obligation to update or revise them except as required by law. This call will be made available for replay starting later this evening or tomorrow — please refer to today's earnings release for dial-in replay instructions available via the company's website at www.petvivo.com. Thank you for attending today's presentation. This concludes the conference call.