PetVivo (US:PETV)2021-11-15 23:03Financial Data and Key Metrics Changes - The company raised approximately $11.25 million through a registered public offering, which closed on August 13, 2021 [5] - As of September 30, the company ended the quarter with over $8.8 million in cash [10] - The most significant event was raising approximately $9.8 million in net proceeds from the registered offering [9] Business Line Data and Key Metrics Changes - The company rebranded its key product for treating osteoarthritis from "Kush" to "Spryng" to avoid associations with cannabis products [5][13] - The company is focusing on expanding sales and marketing efforts to gain veterinary acceptance and generate revenue from Spryng [10] Market Data and Key Metrics Changes - The company plans to attend approximately 19 trade shows, primarily focused on equine products, with the largest show being VMX in Orlando [14] - The company has started launching commercials targeting consumers on major networks such as CNN, MSNBC, and Fox [15] Company Strategy and Development Direction - The company aims to hire six to eight additional salespeople over the next 12 months to enhance its sales force [13] - The strategy includes expanding sales channels through partnerships and conducting additional studies beyond the Colorado state study for both equine and canine markets [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the numbers being within the expected range during roadshows for the offering [20] - The company is focused on educating the market about its product and driving consumer interest through various marketing strategies [15] Other Important Information - Key hires were made to strengthen the management team, including a Chief Operating Officer and a National Director of Sales with extensive veterinary sales experience [6][7] - The company engaged an advertising agency to assist with marketing efforts [11] Q&A Session Summary - No questions were raised during the Q&A session, and management expressed surprise at the lack of inquiries [18][20]