Good morning, everyone, and thank you for joining us for the kickoff of the Virtual Investor Ask the CEO event. My name is Jenene Thomas. I am CEO of JTC Team, and I will be the moderator for today's event. This is a unique opportunity for investors to connect with management. For our first company of the day, I am pleased to be joined by Saundra Pelletier, Chief Executive Officer, and Amy Raskopf, Senior Vice President of Investor Relations of Evofem. Welcome, ladies. Thank you. Thanks for having us. Thank Thank you. So before we get started, I just wanna remind our audience that Evofem is publicly listed on the OTCQB Exchange under the ticker EVFM. So I'm so happy to have you both back on the Virtual Investor platform, and as you know, we are hosting this event to give investors a platform to ask you questions. So before we get started with the questions, Saundra, can you provide a brief overview of Evofem? Yes, of course. So our organization is focused on innovating in women's healthcare, and we're doing that by bringing to market the first and the only FDA-approved birth control that women use on demand, only when they need it, never when they don't. And the reason I say that specifically is that since 1960, when the first birth control pill was introduced in the United States, it's been suggested to women that they have to overmedicate themselves. They have to take something every single day of every week, month after month, year after year, when women aren't having sex every day. So the idea that women have something they use on demand, just like men can use condoms, is very empowering for women. And women say that if they've suffered from side effects, there are 23 million women in the United States right now that will not use hormones. They will tell you that they have tried pills and patches and IUDs and rings. They'll tell you that the side effects are pervasive. They happen every single day. So a lot of women have said, "Why am I doing that? Why am I taking a medication every day that I don't need to save my life? Why am I doing it if I'm having side effects? Does it really make sense?" So for us, we really wanted to innovate, not just give a different delivery system of more hormones. So we really wanted to offer a solution for those women. Now, I also wanna say, though, we believe that women deserve and need choices. We believe that we have brought a better choice in Phexxi, the non-hormonal product, but we also know that women will change their choices in birth control three or four times throughout their reproductive years. The final thing I wanna say is that the product. Less than 2% of patients discontinued because of side effects, so the product is safe, the product is effective, the product is very, very easy to use, and the fact that it has no hormones, it doesn't matter what a woman's weight is, it doesn't matter what other medication she's on, it doesn't matter if she's breastfeeding. This is a product that if a woman does not wanna use hormones and she cares about something being FDA-approved, Phexxi is the perfect solution. The reason we call it Phexxi is because P-H... E-X-X-I is how you spell it, but pH is how the product works. All it simply does is help a woman's body maintain her natural pH and XX chromosome for women. We're excited to be here today because we really believe that in this environment, politically and socially, that there's a huge opportunity to grow Phexxi and offer it for more women and deliver shareholder return. Saundra, thank you so much for that. So to our participants today, and we do have many of them, we've received many pre-submitted questions, and we are going to start with them. But we do wanna hear from all of you, so if you'd like to submit a question, click the Q&A button at the bottom of your screen, and we will get to as many as time allows. So are you ready to get started, Saundra? I'm ready, yes! Okay, good. All right, so, our first question that was sent in is: "What is your prediction for where the company is going to be the next year this time, and why? So we sent out a press release this morning saying that this is our third consecutive year of net revenue growth for Phexxi. We intend to maintain that and keep that momentum going. So next year, we will have our fourth consecutive year of growth and increased net sales for Phexxi. We also have a goal of being on a national exchange again, so we are very focused on doing that. We also are really looking to broaden our portfolio. We know that we wanna grow Phexxi and expand it, but we'd also like to have another product in our bag. And finally, there's been a lot of talk about women's healthcare roll-ups, that you can do more and better together, and so there is a chance that we could be acquired, or we could be part of a women's healthcare roll-up. All of those things are exciting to us 'cause we want the opportunity to be able to expand, you know, Phexxi to a broader patient population. Well, congratulations on your progress, and that does sound really exciting. Thank you. All right. Sure. Have there been any sales campaigning done to market to the Christian communities that could catapult Evofem's consumer base due to the word-of-mouth networks, prayer groups, family planning and counseling, teen groups, et cetera, that are craving a more natural form of birth control? Yes. I think it's a very interesting, astute, and intuitive question, particularly post-Dobbs. And why I'm saying that is that when you look at how hormonal birth control works, it convinces a woman's body that she's pregnant, and it shuts down her entire system. Phexxi is the only birth control that does not shut down a woman's ovaries. So why that matters is that when you talk about Christian communities, when you look at the mindset, they are very concerned about a woman's God-given body and how that God-given body is impacted, and is she staying as natural as she can? And oftentimes, condoms end up being the best and sometimes the only choice, but condoms are not controlled by women, and what we know is that women want to be in control of their own bodies. And so Phexxi is an opportunity to. Use it only when you need it. There's no systemic activity in the body. So when you're not using Phexxi, there's nothing in your body. You hear a lot of women wanting to cleanse their body or clean it out before they get pregnant, so to speak, if they were on hormones. Well, if you're on Phexxi, and you use Phexxi tonight, it's out of your body by later tonight. So that is a very, very positive and well-received message to any of the conservative communities and religious communities. So we're excited because we've had some conservative states that are even looking at trying to avoid things like IUDs because they believe they're abortifacients. Well, we've had some of them say the two products standing will be Phexxi and condoms. So my final comment is that I just had the opportunity to speak at an investor conference, and I was approached by a couple different Christian and religious-focused groups saying, "You know, we're in an environment now where we can no longer tell women what they can't do and what they shouldn't do. We need to offer them solutions. Instead of saying no, let's give them a solution that we think is appropriate," and they definitely think that Phexxi is that solution. So we think that there's a chance now to really, really build that base just because of the safety and how the product works. Okay, our next question: What else has Evofem... It seems like this is a follow-up question. So what else has Evofem considered from a campaigning perspective? Yeah, Amy, do you wanna address that one? Sure. I mean, in terms of marketing, at the moment, we're not actually investing in marketing because we have pulled back our resource allocation since October of last year, to make sure that we're really focusing on our sales force. So what we're doing, what we have considered and have done is everything from, you know, we've done media campaigns, we obviously had our celebrity ambassador, with Annie Murphy. But right now, we're doing a lower level. We have a presence on Instagram. We are relying on word of mouth, and then also we have our, small but mighty sales force of 16 reps who are out calling on OBGYNs and allied HCPs, who are the prescribers for Phexxi. And so they're having important dialogues to get the OBGYNs and their teams on board, who are then having conversations with women who are getting the product and telling their friends how much they love it, and it's sort of viral from that perspective. We do look forward to reinvigorating marketing when we have resources again to allocate there. And one of the investor questions that you shared with us, Jenene, that was submitted, had some really great ideas, actually, which we would love to put into our practice. But right now, we're being very conservative with our spend, which, as was reflected in our press release this morning, you know, we're really driving revenues year-over-year with a dramatic decrease in sales and marketing costs and also in total OpEx this year's quarter versus a year ago. Wonderful, Amy. Thank you. All right, so are there any new interesting products in the pipeline, and will Evofem products expand beyond Phexxi? Yes, is the short answer. But we did pause all of our R&D. You will see that we are not spending any money on R&D, and appropriately. We don't have any investment to make in Phexxi. As you heard from Amy, we are really focused on, you know, building the base through our sales organization. But we are very actively looking at other products that are the same call base, OBGYNs. Those are the big prescribers of contraception, but they're also the big prescribers of many other things, so products indicated for trichomoniasis or candidiasis or bacterial vaginosis. Sexual dysfunction is obviously a huge, huge interest to us because when we did due diligence around Phexxi, there were so many women that were perimenopausal that said that they have a lower libido, and what can they do about it? So we really have spent an exorbitant amount of time, from puberty through menopause, understanding the mindset of the female patient because the female patient, they decide healthcare for themselves and their children and their husbands, and we want them to know that Evofem's the kind of company that offers real solutions. So we're actively looking, number one, and we also are talking to companies outside of the U.S. for Phexxi, but they have products outside of the U.S. that they may wanna have a U.S. focus. So perhaps a product swap, you know, so to speak. So we're really trying to be mindful 'cause we don't have a lot of capital. If we had a lot of capital, we would already have another product. But we are really trying to find the right partner where we can work out an economic agreement where we can show them what we've done with Phexxi and then give them a revenue split on the upside. Okay. All righty, so we have. Can you hear me okay? Yeah. Mm-hmm. We can. Okay, great. Okay, so we had an investor inquire about your compensation. So there were more statements than a direct question, so I'm going to summarize it. So that with respect to your compensation for 2022, and have there been any challenging discussions regarding your leadership of the company? So I am hoping that this gets recorded and replayed 8,999,000 times because I find the question interesting based on what we've been able to do in a very difficult but challenging situation. Last year, I chose to reduce my salary by 40%. I was not asked to do that. I chose to do it. I also asked the executive team to reduce their salaries by 20%, and then we asked people below them to take an additional reduction in their salaries, everywhere from 5% to 10%. As you can imagine, those are hard conversations to have post-COVID, and those conversations were initiated and determined and suggested by me. Also, when you look at filings, we have to reserve for things that were approved in the past by the board. No one received a bonus for 2022, no one in the organization, and but that's in there when you look at my total compensation, but I did not take that bonus. And so it, when you look at all of these filings, it's not as prescriptive as it looks. No one in our company has any equity, none, zero, no equity whatsoever, and usually when you keep people at organizations, it's because of that. There is a time now where people don't just work for a paycheck, and so the mission of our organization has become more important than ever. I can tell you that the people that work at the company now, after we've done two downsizings, two, everyone believed we would have absolute attrition. People would leave in droves. No one has. No one has, and I will tell you this, I try to be very mindful and careful about ego, but people stay because they see what I do every day, seven days a week. I never ask anyone in this company to do anything that I would not do, and that I have not already done. We've had no attrition because people feel seen and heard, and they matter, and they get the information that they need to drive the company forward. The conversations with the board have been, "You've done an amazing job in very, very tough times." One other comment I wanna make is that when COVID hit, we had an investor that insisted that we move forward and launch, regardless of COVID. That was very challenging. We're an invisible company with an invisible brand, so how are we gonna build a base when our reps couldn't even get into offices? So we made an investment in co-pay cards so that women would have access, because the managed care plans were still blocking us. We also made an investment in direct-to-consumer, so that women would, in droves, go to telemedicine. Yes, it was the right decision. Yes, it did cost money, but in the end, we have evangelical users. So in January of this year, is the first time that the legislative mandate that women will get our product is actually being not only impacted, it's being enforced. We have 82% coverage now. Our co-pay cards have gone down to under 10%. So the decisions we made in very tough times might have been agitating to some investors at the moment, but the long-term investors that care about healthcare and really building a huge base understand. I would say that the conversations that have been had with me have been: what are the things that we can continue to do to grow Phexxi with no money, being delisted, having our two largest shareholders liquidate their biggest positions during COVID? Not because of Evofem. One of them was in the U.K., had to liquidate all of his positions. The other one was taken over by an activist. So our stock went from having all healthcare investors to thousands of retail investors. The final thing I wanna say is that when you have an FDA-approved product that you are marketing, you cannot run around and say things that are off-label. You can't get on the internet and say, "Phexxi makes your boobs grow bigger." The FDA will take your product off the market. You will get fined. I've already gotten in trouble for being on a podcast, saying that I was diagnosed with stage three breast cancer, and I believe it's because I used hormonal birth control for 20 years. We got in big trouble for that. That's my truth and my health, but it was said by one of our competitors that I was suggesting that anybody who uses hormone is going to get cancer. So at the moment, I would tell you that not only am I not going anywhere, the mission of bringing an innovation to market after decades, decades, has been flooded with me-too products and contraception. What we're doing is very, very important and critical. So what you see on paper, unfortunately, isn't exactly the facts. When I'm asked, I'm very transparent and clear about it, and I understand that people are negative, and that there's bullies, and everybody wants to blame somebody for something, but when you look at our press release this morning, you see that we are on a turnaround. I believe in second chances. This company deserves it. So long answer, sorry about that, Jenene, but that was. No, don't be sorry, please. I thought it was a great answer. So, we are taking all of the investor questions that come in that we, that we have time for. I feel like you answered a lot of this next question, but I want, I definitely want the investors to be heard, so I'm gonna ask it. But are there any words of encouragement or positivity for the investors? And I think you covered a lot of it, but please, take it away. Yeah. No, no,, w ell, so as I said before, we continue to have annual and quarterly growth, and what we have seen is that, imagine this, we have 16 sales reps, 16. We have 1,300 doctors that are writing Phexxi every single week consistently. We are generating between 2,000 and 2,200 scripts, and what matters about that is that instead of declining or instead of just holding steady, we've been able to continue to build the base. We have also gone out and talked to a variety of partners and said: "Look, if you've not had the success that you wanted, either because you used contract sales forces or you had to disband your own sales organization, if you look at our results, we have a worthy organization that could put your product in our portfolio." So the words of encouragement are that the political environment has really created a space for women to have access to more contraception, number one. Number two, there is so much data that is out there about what is happening when women use different concomitant medications, and if they are using hormonal birth control, it interacts with other things that they're on. Antidepressants, anti-anxiety, Ozempic, okay? Not just because you're diabetic, but because you're taking it for obesity. A product that has no systemic activity in the body is very, very valued by physicians, therefore, valued by women. So we are on the rise. We are on the rise. Yes, we've had some hard times, but that's in the rearview mirror. We need to now focus forward and say, we now have a chance, politically, socially, to continue to grow this brand in ways that people are, are not only going to be surprised by, but the final thing I wanna say is that young women, young women, these aren't just women that are in their 30s in monogamous relationships. Young women are leaning into the idea that they don't have hormones in their milk, they don't have hormones in their meat, they are healthy, and they want something that they use on demand. So this is the time for Phexxi. It really is, more so than any other. Okay. Next question: "Is Evofem Management considering bankruptcy or acquisition anytime soon? Well, we're not considering bankruptcy. Acquisition, definitely. Look, the board will look at any credible and appropriate offer, sincerely. And, you know, I would tell you that we would be excited about an opportunity to be part of an organization that had other assets, that really wanted to lean into women's health. So, so if an appropriate offer came to the table, it would be seriously considered. Our next question: "Why should anyone invest in this company? Yeah, Amy, I don't know, you haven't, you wanna take it? Sure. I mean, that's a great question. I would tell you that we are currently trading between $0.08 and $0.10, and very recently, a large banking institution came out with an enterprise value on us of more than $80 million. There's a huge gap there, and, you know, I think that for the right investor, there's a big upside opportunity to be considered. Obviously, not without reviewing the risks. There are risks, but look, we are growing. Our revenue for Q3 is between $5 million and $5.2 million. We are firmly on track for, again, year-over-year revenue growth. We're doing that with a significantly better cost structure. Our expenses compared to where they were last year are shockingly low. We're talking, like, 60%-80% lower. And every single quarter this year, we are posting revenues that are higher than our sales and marketing cost. Clearly, we're moving in the right direction here. You know, we are going to be posting for Q3 our lowest operating loss to date for a quarter. So watch us grow and see us continue, because this company is on its turnaround, and, you know, for again, for the right investor, we think there's a very, very interesting opportunity here. Well, love the facts and love your belief in that, Amy. Thanks for that response. Okay, our next question: "Any plans to diversify the product or offerings? Yeah, so we really l ook, we know that we've heard repeatedly, one-product companies are, have challenges. We recognize that bringing another asset into the portfolio, it minimizes investor risk. We also know that it helps cover the cost of the sales organization. You know, the infrastructure is, w e are keeping expenses very, very low, but in infrastructure, it's not just about having sales force, right? You have to have data. You have to give them some materials. You have to be able to appropriately educate them on what's happening. When they go in and call on providers, we need to buy access to the data so that they understand, is behavior modification happening? Are they really influencing these doctors to prescribe more Phexxi, and who are the right targets? 'Cause we don't wanna waste our time. So, we know that they've had Phexxi for two years, and our sales organization is made up of people that have spent their whole careers in women's healthcare, so they have sold two, three, sometimes four products, and they understand different therapeutic areas. So we really do want another product, and we can handle another product. We can not only add value, but we can grow another product. So we are actively in the throes right now. Amy and I actually are really focused on business development initiatives to bring something else in the next year. Wonderful. Okay, our next question, and we're getting great questions that are coming through. "There have been recent news articles about the GLP-1 drugs, how they affect gastric emptying and the use of oral contraception. Ozempic, et cetera, delays gastric emptying, potentially affecting absorption in the body. Is this a good opportunity for Phexxi? Well, Amy, you wanna take this one? Absolutely. Yeah, no, we've been doing a lot of reading. This has been in the news a lot lately. It's true, you know, Ozempic and Mounjaro, there is a growing awareness, in diabetes, but also women using those for other purposes, which are off-label, therefore we can't talk about them. But yes, it's actually in Mounjaro's label that women who are going on this, a non-oral birth control method, at least for the first four weeks that they're on it, and again, when they're dose adjusting. Well, as we know, you know, hormones have to be in your body for a period of time before they can do anything. A woman who's going on these therapies can go on Phexxi immediately and not worry about it, and additionally, for women, whether they're, you know, they're having weight issues due to diabetes or whether they're on these drugs for, you know, obesity itself, you know, women who are doing this, they need to be very cognizant that, other hormonal methods work differently in women with higher BMIs. Phexxi's BMI agnostic, so that's o n several different levels here, there's a very, very good opportunity for Phexxi. And truthfully, you know, we believe that an on-demand hormone-free method like Phexxi should, you know, can and should be, you know, a solution that's considered by their providers. And really, they should be having, you know, cross-functional dialogue with their OBGYNs to make sure that their contraceptive needs are being met. I mean, this would be... An unplanned pregnancy, especially in a woman who's just started, you know, one of these therapies, it could be devastating for her and her partner. You know what? Just to add, That's a great question. yesterday, literally yesterday, on Medscape, yesterday, very, very fascinating article came out, and it talked about, quote, this article quoted endocrinologists and obesity medicine doctors saying that they are seeing unintended pregnancies in these patients that are using other birth control, which obviously nobody wants. But it's really fascinating, the quotes from the doctors and what's happening, and why they really say to these women, "You need to be very careful and go to your OBGYN if you're taking these medications, and get a product that's not going to interfere." Well, voila, right? That really escalates the desire for Phexxi. So, you know, we're actually excited about that. I was really surprised, but I think it's a huge opportunity, right? And a window opens, and, you know, we'll go through. Excellent. Well, we are, definitely are getting some great questions. Here's another one. "We previously noted that over 80% of women coming to Phexxi were not taking any prior prescription contraception. Were they using nothing or OTC options? And what can the company do to drive that non-user or OTC user to a prescription product like Phexxi? Yeah, so I would tell you two things. So when they came to Phexxi, they were doing nothing, but that wasn't because they hadn't done something in the past. So the majority of women are usually started on a pill, because that's typically what happens. They start out on a pill. By the way, there are 150 birth control pills approved. 150. I was shocked by that myself. But anyway, so they were on something in the past, a hormonal product, and because of the side effects, they stopped using it. So they had a period of time where they were doing nothing. That brought them to Phexxi. So the one interesting question, which I think is a smart question, that investors have said to us is: "Well, if they're doing nothing, does that mean they're not seeing their doctor? How are you gonna get these women to actually do something if they're doing nothing?" Here's what we've seen: many of these women still are seeing their doctor for other things, you know, their annual exam, whatever it is. And now the counseling has really increased and heightened lately, which has been very, very important. So they're usually going in for their doctors for other things. So that's one way we're definitely targeting these women. Two, even though we're not spending any money, because of the social media push that we did through all of these sites where these users, they're breastfeeding women, they are into health, and they don't wanna put anything negative or what they think is toxic in their bodies. They're worried about getting pregnant. So we still have a lot of goodwill and Phexxi messages that are lingering from these sites. So that's how we're driving women in, and typically, those women will go through telemedicine, too. So the one thing you should know is that, you know, it's not just going into the doctor. Telemedicine, as everybody knows, is a very easy way to get their product in 24 to 48 hours. So, it's really been a good and interesting way to target these women. Great. So we do have time for just a couple more questions. I can have you guys here all day. We have some great questions coming in. How do you think about Phexxi pricing in markets like South America? Okay, well, we had a partnership with a group called Adjuvant Capital, who are very, very focused on low and middle-income countries. And they made an investment in Evofem, so that we could do market research, understand how to promote, how to market, how to distribute these products. I have a very long-standing background in going into these markets as well, and so the bottom line is, is that we have to lower our cost of goods in order to do that, is the bottom line. Even though we have unbelievable profitability in the U.S., ex-U.S. markets are very different. We have identified a manufacturer that can lower our cost of goods by 50%. We need a little bit of investment to make that happen, but they've already done validation batches. They've already proved that they can make the product. And depending on the market, it might be in a refillable tube, so just depending on what the market will bear. The final thing you should hear is that in those markets, we did research to identify, does the messaging need to be more conservative? Should it be more provocative? We would actually change the brand name so that it would be a different brand name, that would be more susceptible to, you know, women and their providers. So, so yes, we'd have to lower the cost of goods. We would change the packaging configuration. We would likely change the brand name. But we know how to do it. We just need a little bit of capital to trigger it. Great. Okay, so we have time for one more question, and then I have one question before we close out. So, last question from the investors: "Your early look at Q3 results was impressive, and I know you will be reporting full financial results in the coming weeks. But can you talk to the trajectory in 2023 year-to-date and guidance for the upcoming quarters, and also provide an update on other metrics, like percent coverage? Yeah. Amy, you wanna take this? 'Cause maybe it'll do the last question. Sure, sure. Yeah, so if you take a look at where we are year-to-date 2023 on the revenue, we're $13.3, $13.5. So what's interesting is when you look year over year, last year we had a very, very large Q3 and then drop-off at Q4. This year, that's not what we're expecting, and that's because the build-up in Q3 of 2022 was ahead of a price increase on October 1st. This year, we made a strategic decision to hold the WAC steady. We're not increasing the Phexxi price to wholesalers this year. So as a result, we expect normalized ordering patterns in Q3 and Q4. And as a result, we're expecting Q4 to be, you know, stronger than it was a year ago, and so we'll see that year-over-year growth. We do expect to hold our sales and marketing costs-... You know, as low in Q4 as they have been pretty steadily all throughout this year. And then again, you know, we haven't given any bottom line guidance because obviously there are other factors in play from fair market accounting and things like that. But really, we do expect that this is gonna be our strongest year to date. And then continuing on next year, you know, looking ideally, we'll find some capital to invest in marketing, but right now it's really about the strength and the relationships of our sales force out there marketing in the territories where we've got strong prescribing relationships, and also where we're seeing the reimbursement rates as favorable as they've ever been. You know, now that the ACA is being enforced under HRSA, you know, which started in January, like, if we'd had the reimbursement at launch that we do now, it would've been a completely different ballgame. But right now, we've got 73% coverage within our commercial and Medicaid books of business. That includes almost 20 million lives that have access to Phexxi at zero copay, and we do expect that number to grow. 82% of Phexxi claims are now being approved. Again, this is an all-time high for us, and we expect that just to continue going forward. That's not even including the additional scripts that are going through with prior authorizations. But we have fewer PAs going through. Our copay card utilization is down, which is great because that means women are getting it without our support. So all indicators are positive for Phexxi, and we're really, really optimistic and bullish about this. Saundra, anything you wanna add? No, no, are you kidding? That was perfect. Of course, what would I add? I know. That was so great. Oh, my God. Drop the mic, Amy, please. Yeah, drop the mic. I agree. All right. One last question, and this is from me. So, Saundra, what do you think investors could be missing from the story or the Evofem opportunity? Here's what we know. We know that women are at a place in time, in history, and in healthcare post-COVID, where they had an opportunity to say, "Do I feel as good as I should? Do I? What is everything that I am doing? What am I eating? What am I taking? What am I thinking?" And I really mean that, okay? Women... The way women think is entirely different than the way men think. I know that's an obvious statement, but that also pertains to what they're doing to manage their pregnancy, which is so serious, and way more serious than I think we have communicated. And so at this moment, our product, Phexxi, is on demand. Women are more empowered now than ever to use something that they only use when they have sex. You use it right before sex or any window within an hour. It is simple. It allows lubrication. It allows no systemic activity in the body. And if you're thinking about this, and you're listening to this, and you have a daughter, a significant other, a spouse, we would not suggest that our sons overmedicate themselves every single day, taking a drug that they don't need to save their life if they're having side effects. That would seem crazy. So we're really hoping that investors will lean into this story and recognize that we're more than passionate. We know how to execute. We understand the mindset of women and the doctors who serve them, and this is our comeback. And our stock is so undervalued, it is ridiculous. And so if people are really taking a long, hard look, that half our population is women, this organization is something to take another look at. Wonderful. Well, very exciting. I love that. It's your comeback. I know you mentioned turnaround a few times. Definitely an exciting time for Evofem. We'll be watching. We encourage the viewers to watch. I'd like to thank you, Saundra and Amy, for your time today, for your openness to take all the questions that have come through. I'd really like to thank our audience, such thoughtful questions that have come through, taking the time to participate, taking the time to pre-submit, as well as submit during the event. So we'd really like to thank everyone for joining. We do have a full lineup for day one, so if you check virtualinvestorco.com for the lineup of companies. Again, Evofem trades on the OTCQB under the ticker EVFM. Saundra, Amy, thank you so much. Can't wait to have you back. Can't wait to follow your progress and to watch your comeback. Thank you, Jenene, so much. Thank you. Great. Thanks. Bye.