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[Music] hey everybody welcome back to the daily dive joining us today on the show is george adams chairman of entry point diagnostics hey george welcome back to the dive thank you cassandra happy to be here okay so let's get right into it venture point this week announced that it is working with veterinarians to address the needs of companion animals what can you tell us about this arrangement well it's great i mean the vet school at north carolina state university is one of the top in the united states and we've been talking to them for a while and they sent us a few scans of dogs mri scans and ultrasound scans of the hearts of dogs and we were able to reconstruct them perfectly fine using our human databases of hearts so it says that dog hearts aren't a whole lot different from human hearts knew that but you know it was nice to see the technology capable of doing that um you know so really uh so we just uh we we've collab set up a collaboration with them to do a bigger study and validate that we get exactly the same results from cardio echoes on dogs as they get from mri and so same story as the humans then we can and and of course aren't a lot of putting a dog at mri actually almost as bad as putting a child in an mri you got to knock it out and put it on a ventilator and hold the ventilator while you're trying to get scans um you know so it's a it's very expensive and very complex process and nobody very few people really do it um but echo again is you know especially archive echo where where the patient in this case the dog is able to move around while you're collecting the images um you know that's going to be very quick and so um it's an amazing market because uh you know there's actually like 35 40 of people have gotten a pet in the last six months because of covid and there's like 100 million dogs in the united states so 10 of them have heart problems and most vets don't do echo cardiography but they would like to do it but it's a little too hard but we can make it a lot easier for them uh so it's a huge it's a great market for us uh 30 000 vet practices in the united states so they're more the more veterinarians than cardiologists in the united states they're only 25 000 cardiologists in the united states so it's uh it's an amazing market and there's no regulatory so like we don't have to go through the fda or any of that there's no regulations on how you can use medical devices on animals so we see dogs as a starting point i'm actually now expanding into racehorses um and so i've gotten several connections into the into that world now and it's even more exciting because you actually do use echocardiography in training olympic athletes and elite athletes you check their hearts regularly you adjust their training programs based on how their heart is responding because obviously if your heart is not functioning at peak performance rest of your body to get going right and so given the horse racing industry i think they'll be very interested in using our technology to as they get the horses all trained up and ready to go for the next kentucky derby or whatever uh and uh so yeah it's an exciting time for us we're in that field with that being said we know we're going to stick to our our our regular business of uh human uh echocardiography um but uh you know there's as i said we don't have to change the system at all to do the dogs or the horses so it's it could be a very interesting market are there any competitors with the niche providing echocardiography to animals no they they just use the regular same echocardiography ultrasound equipment that it used in human ge siemens philips and those guys use the same analytical packages at the humans they don't do any you know they don't have these simpler simpler ones uh the nice thing about veterinarians is they're very keen on trying something new like that's who they are they really like to have a new toy or a new way to do something uh you know and and they're not totally stressed out like the human cardiologists who are right now totally stressed out because they're cold right switching gears a bit last month venture point announced that they've received several government grants related to research can you elaborate on this a bit oh well we just got uh grant grants and loans uh to help us go along it's a part of the covid program from the canadian and ontario government uh and so it's we've gotten over 400 000 of support from the government in 2020 and we expect about the similar amount this year from from the government uh as govid goes on and which is and also we have some significant grants into irap nrc to fund development you know some more development in in the product more automation and things like that um so it's the good news i mean that covers about 40 percent of our burn so it's kind of nice the government is paying 40 of our burn which is allowed you know we raised a small amount of money back in september last year five hundred thousand dollars and we still got that money in the bank we're still going ahead with you know we're basically running off of uh warrant exercises and government loans and uh and grants so it's it's it's been great just great so george last time we talked you were heavily focused on getting machines into hospitals how has this process played out in the time since well we just announced two weeks ago we got another machine into king's college hospital in london which is the epicenter of the uk variant for kovid and dr monaghan there is the one of the top cardiologists in in europe he actually convenes is the convener the person who sets up the annual conference on echocardiography in europe so he's uh you know very well connected to everybody and he's uh very keen to use the machine on covent patients he's got all sorts of them there uh they were the first people to vaccinate people in the united k in the uk at king's college so yeah another great install at top you know global hospital and someone who's who's going to talk about how great the machine is when when they get some a few cases under their belt so what can investors look forward to as we get into 2021 well uh you know i think uh kovit has certainly slowed things down a bit i think we are working like a commanding companion animal collaboration is not being slowed down by covid so that's kind of something i think which we'll develop uh i think we we're working on some alliances with some major corporations uh for to help us with the global marketing of our product and so i think that will get formulated fairly early in in this coming year uh and then we have more you know we still have a pipeline of machines we want to put in but obviously the hospitals are in shutdown mode right now because of covid uh but they'll open up once the vaccine kicks in earlier later in the spring and so we'll get back to putting them in meanwhile and then that's when the conferences kick in so we'll be able to have these people who are got our machines now you know md anderson and and erasmus and toronto general and masinkowski and king's college those leading cardiologists will be standing up at conferences in the spring talking about their how effective our machine is and how useful it is we also have uh some case studies uh coming out which we're going to be posting up on the website one of them is a case study of how hospitals are using our system to really address a number of patients and how and change the way they do things in a children's hospital uh in europe and the and the other one is a case study on a patient who they've been following now for several years with our equipment and how that has really helped them decide when to do heart valvular replacements and and how to treat the patient after the valvular implant uh in in the appropriate way so that that's those are good those case studies should come out in the next month or so and i think that'll begin to show people exactly what you know what we do to help the average person yeah well thank you so much for joining us on the show again george well thanks for having me sorry i was so long-winded but that's just the way i am some days and for our viewers at home don't forget to like click that subscribe bell below we'll see you next time on the dive to go over all things small caps you