Good afternoon, and welcome to the Oculus Innovative Sciences Fiscal First Quarter 2015 Conference Call. My name is Janine, and I'll be your coordinator for today's conference. (Operator Instructions) As a reminder, this call is being recorded for replay purposes. I'll now turn the call over to Mr. Dan McFadden. Please proceed, sir.

Thank you, Janine. Good afternoon, and thank you everybody for joining us today. With me on the call today are our CEO, Jimmy Schutz; and our CFO/COO, Bob Miller. We'll open the call with Bob Miller's review of our financial results for the quarter, followed by Jim's update on current activities as well as our business strategy moving forward. This afternoon Oculus issued a press release detailing fiscal first quarter 2015 financial results and recent corporate developments. A copy of the release can be downloaded from our Web site which is www.oculusis.com, or you can call Investor Relations at (425) 753-2105, and we’ll be happy to assist you. Before we begin, I'll remind listeners that this conference call contains forward-looking statements within the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are identified by use of words such as expect, to expand, would, and anticipate, among others. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially, including risks inherent in the development and commercialization of potential products, the risks that potential clinical studies or trials will not proceed as anticipated or may not be successful or sufficient to meet regulatory standards or receive the regulatory clearance or approvals, as well as the company’s future capital needs and its ability to obtain additional funding and other risks detailed from time-to-time in the company’s filings with the Securities and Exchange Commission, including the Quarterly Report on Form 10-Q and the Annual Report on Form 10-K. Identified product applications and/or uses are intended to highlight potential applications for the investment community, and does not infer that the company is marketing for these indications. The company does not provide any assurances that such applications will receive regulatory approvals. Oculus disclaims any obligation to update these forward-looking statements. So with that, I'll now turn the call over to Bob Miller, our CFO/COO. Bob?

: How did we do on our financial guidance for the quarter ending June 30th this year? We provided guidance for total revenue in the range of 3.1 million, and achieved 3.4 million. We provided guidance of in the $2.9 million range for cash operating expenses, and spent 3 million. We provided guidance within the range of 1.2 million negative EBITDAS, and had 1 million negative. Moving now to a summary of the results of our first quarter ended June 30th, instead of repeating the financial results as I've often done in the past, which are already provided in the press release, I'll only cover the highlights of the financials and also talk about the initiatives we're working on to reignite our revenue growth. Product revenues were up 1% compared to the same period last year with increases in Europe, Mexico, Middle East, India and Singapore offset by declines in U.S. and China. The flat revenue growth for the quarter compared to last year is comprised of very different growth characteristics with the various products and territory segments of our business. One, very high growth, 50% plus in Europe and rest of the world with new products approved and introduced and new country-specific distributor partners. Two, 9% unit growth in Mexico with More Pharma, our partner in Latin America, partially offset by 4% devaluation in the Peso versus the Dollar. Three, 25% decline in animal healthcare due to the impact of increased competition, lower prices and the transition of the business to another partner. Four, 10% revenue growth from our current dermatology partner offset by the discontinuance of a separate derm partner last year. And finally, high growth in the U.S. wound care which has been sold directly by our direct sales force. Gross margins were down to 58% from…

Thank you, Bob. Now that Bob has given you the numbers in this, our first quarter since the Ruthigen IPO, I’d like to spend a few minutes on three areas before we open the call for Q&A. One, just a few comments on our quarter; two, an update on Vetericyn; and three, a brief look ahead at our European efforts. As Bob said, we are not pleased with our 1% revenue growth over the same quarter the last year, and expecting continued reductions in animal health revenue short-term. It will pick a few quarters before we can turn the corner and return to that double-digit revenue growth that we have grown accustomed to over the past few years. Having said that, I believe there is cause for optimism conservatively. We anticipate, as Bob said, a minimum of five new product launches in the U.S. in the spring of 2015 or by the spring in 2015, including our exciting new scar management product and another five new product launches in the same period in Europe, Latin America and rest of world, which includes our Atopic Dermatitis Gel and a new oral care solution. And while we are not at liberty to disclose the remaining products in the markets due to competitive reasons, some of these in my opinion have the potential to be game changers. As we prepare for these product launches we will keep our shareholders updated via press releases and on our investor blog at the Oculus Web site. These new products were at the core of our corporate mantra that we established today, I took helm as the CEO in February of 2013, new products, new people and new territories. Speaking to new people, as we previously mentioned, our animal healthcare partner Innovacyn have decided to replace the…

Thank you. (Operator Instructions) Our first question is from Dan Trang with Stonegate Securities. Please go ahead.

Hi. Thanks for taking my question. Speaking of Innovacyn, how much growth can we expect from Innovacyn for the next year, for the rest of the year?

Innovacyn -- I'm sorry. It’s a little hard to hear you Dan. But the question was how much growth do we expect from Innovacyn for the rest of -- and we missed the timeframe. How much growth do we expect from Innovacyn during what timeframe?

For the rest of the year.

Oh, okay.

:

Okay.

When its event decline, and a new partner pick up.

Okay.

What we would see, and it's really difficult during that transition to really identify that like we gave guidance for international or like we gave guidance for some of the other areas; it's very difficult for us to do that in animal healthcare.

Okay. And what are the feedbacks for some of the brick and mortar retailers that you've been able to pick your product in?

Are you referring to the Walgreens?

Yes.

Again, this has to do with our partners, and they even though they went out and they spent a fair amount of money, we don’t expect that to continue to grow at this time.

Okay, all right. Thank you.

Now, we do see that there will be some growth -- potential growth in that arena from other partners that we're talking to at this point in the animal healthcare arena.

Okay, all right. Thank you.

Thank you, Dan.

(Operator Instructions) And I'm showing no questions in the queue at this time. And I'd like to turn the conference back for any closing remarks.

Janine, thank you, and thanks to all who joined us today, and we look forward to speaking to you.