Greetings and welcome to MRI Interventions, Inc. Second Quarter Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. Comments made on this call may include statements that are forward-looking within the meaning of securities laws. These forward-looking statements may include, without limitation, statements related to anticipated industry trends, the company’s plans, prospects and strategies both preliminary and projected and management’s expectations, beliefs, estimates or projections regarding future results of operations. Actual results or trends could differ materially. The company undertakes no obligation to revise forward-looking statements for new information or future events. For more information, please refer to the company’s Annual Report on Form 10-K for the year ended December 31, 2018 and the company’s quarterly report on Form 10-Q for the quarter ended March 31, 2019 both of which have been filed with Securities and Exchange Commission and the company’s quarterly report on Form 10-Q for the quarter ended June 30, 2019, which the company intends to file with the Securities and Exchange Commission on or before August 14, 2019. All of the company’s filings maybe obtained from the SEC or the company’s website at www.mriinterventions.com. I will now turn the call over to Joe Burnett, Chief Executive Officer. Please go ahead.

Good afternoon, everyone and welcome to our Q2 2019 earnings call. With me on today’s call is our Chief Financial Officer, Hal Hurwitz. As always, we thank you for your continued support as our team works together everyday to improve the quality of life for patients battling some of the most debilitating neurological disorders. On the last quarterly call, we discussed our strong start to the 2019 fiscal year with record quarterly revenue in Q1 and continued progress in each of our four growth pillars. I am excited to share with you today that the momentum has clearly carried over into the second quarter with new records for both revenue and supported case volume. This was highlighted by 58% growth over prior year revenue and 197 cases covered. In addition to our operational performance, the second quarter saw the achievement of three significant financial milestones, including the strategic investment of $7.5 million into the company, the retirement of $2 million of senior notes and the uplift to the NYSE American Exchange effective July 3. All of these events were strategic goals of the company at the very start of the year and we appreciate the actions of our team and the support of our investor community to be able to achieve them all in the first half of the year. At this point, I would like to turn the call over to Hal for a few minutes to highlight our operating results for the second quarter of 2019, after which I will provide some additional detail on our activities in the quarter that support our four pillar growth strategy. Hal?

Thank you, Joe. For the second quarter ended June 30, 2019, total revenues were a record $2.6 million compared with a prior record of $2.5 million for the first quarter of 2019. Revenues reflected an increase of 58% from $1.6 million for the same period in 2018. Breaking that down a bit to the underlying product areas, functional neurosurgery revenues increased 46% to a record $1.7 million compared with $1.2 million for the same period in 2018. A record 197 MRI supported procedures were performed in the second quarter of 2019, up sequentially from 175 in the 2019 first quarter and up from 148 the prior year second quarter. Biologics and drug delivery revenues, which includes sales of disposable products and services related to customer-sponsored clinical trials was $413,000 in the second quarter, an increase of 51% compared with $274,000 in the second quarter of 2018 and driven primarily by increased product sales of SmartFlow cannulas. Capital equipment products sales and related service revenue increased 128% to $485,000 for the second quarter due primarily to an increase in sales of ClearPoint systems and equipment service contracts in connection with our rollout of the ClearPoint 2.0 software. We now have 65 ClearPoint systems in circulation, of which 55 are in what we would describe as active clinical sites. In the second quarter, we recognized our very first therapy revenue in the amount of $17,000, which was sold under our U.S. distribution agreement for laser applicators with CLS. In the future, other therapy products, including neuro lasers and our PURSUIT neuro aspiration devices will be placed into this therapy bucket. Gross margin for the 2019 second quarter was 60% compared to gross margin of 63% for the same period in 2018. Gross margin vary slightly from quarter-to-quarter based upon our revenue mix…

Thank you, Hal. As we mentioned on the last call, 2019 is about execution and it is great to start the year off with a strong first half. This is especially true of the multiple records on key financial and performance metrics as Hal has indicated. As with last quarter, let me cover a few highlights within our four growth pillars to bring you up to date on our efforts. In pillar number one, continued growth in functional neurosurgery navigation, demand for our products remains strong and continues to accelerate. We completed a record 197 cases in the quarter across our portfolio and expect the continued ramping of ClearPoint utilization and new site installations to drive the number of cases to between 800 and 850 cases for the full year of 2019. In the quarter, we installed ClearPoint at two additional sites bringing our total number of systems in circulation to 65. We also completed a more global assessment of installed systems to better communicate and classify our installed base. At the end of the quarter, of those 65 systems in circulation, we classified 55 of them as being at active clinical sites plus 10 systems which are either at preclinical research laboratories like the NIH or at what we describe as dormant accounts. We believe the 55 clinical sites number is a good representation of our active installed base and better reflects penetration of hospitals and utilization when calculating various performance metrics. As we mentioned, a key initiative over the past few quarters has been to educate and optimize workflows at our accounts so that more of our hospital partners are capable of completing two procedures per day in the same MRI magnet. We did add one additional hospital to the quarter who is scheduling two a day-procedures, bringing…

Once again, thank you everyone for joining us today. As you can see, we remain excited about the path forward. We see growth ahead in our core neurosurgical cases, our biologics partnerships and developing our own therapeutic tools. We are very excited for continued success in the second half of 2019 as we continue our journey to becoming a premier platform neurosurgery company. In addition to continuing to report our progress in key milestones, we will also be doing outreach through select conferences and road show opportunities, including the upcoming Sidoti Conference in New York City on September 25. If you have any interest in meeting in person, please contact Matt Kreps at Darrow Associates, our investor relations firm using the contact information on our press release. They will work to ensure you are added to our meeting rosters at these or other upcoming events. On behalf of our entire team, we thank you for your continued support of our efforts to take on these debilitating neurological disorders and we look forward to continued progress ahead. Thank you very much.

This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.