Hydreight Technologies (TSXV: NURS / OTCQB: HYDTF) 2023 Financials Investor Webinar
good morning or afternoon everyone thank you so much for joining us we're just going to give it a few moments here while we wait for everyone to join from the wait room as I see some people just coming in just a reminder we will be going over some uh future catalysts uh so we do want to remind everyone to take a look at our forward-looking statements as well and this will be a 30 minute webinar and if you do have any questions throughout please do not hesitate to put them in that Q&A section as well just down below and we'll try to get to as many questions as possible if we can't get to your questions please email them into ir hydrate. comom and we'll make sure that we uh do address them too I'll put that in the chat section for you just a reminder this webinar is being recorded and we will be sending the recording out shortly after as well just in case you do have to uh leave for any reason we'll be emailing them out all right I think we can begin now if there's any other people joining we'll let them join in uh but just be mindful of everyone's time I think we can begin I'll pass it off to our CEO Shane Madden uh to get started here thank you Abby um hi everybody thank you for your time um I know everybody is busy so I really appreciate everybody jumping on the webinar and um spending some time with us to hear the hydrate story so um I do encourage we are going to discuss some things obviously at 2023 audited financials statements and the progress of the company we will be discussing some plans and some future uh um some future numbers so I do encourage you to look at our forward looking statement um I will give a I will give a brief overview um of hydrate for anybody that is um new to the story or to refresh people that have heard um uh met with us in the past and possibly uh need a refresher on on the company so um hydrates uh goal as as a company since its Inception and since it was founded was to be the nation's first Mobile Medical Clinic um so essentially a Mobile Medical Network across all 50 states so a nationwide lift um we are the first company that has put a structure together where uh nurses so service providers in the healthcare industry can monetize their credentials outside of the traditional setting of a hospital or a bricks and water so essentially we get referred to as the Uber for nurses because we allow them to work in a 1099 capacity on our medical Network across all 50 States so as we discuss some of the progress that the company has made um financial and otherwise uh I will be reverting back to our overall vision for the company because there has been significant movement towards the the finality of of the of the initial proof uh you know Inception and and and where the company wanted to be and and what the end Vision was so uh we started off essentially creating a medical Network across all 50 states um we had to obviously uh to build a mobile network like that we had to go state by state there's three state boards in each uh State um medical nursing and pharmacy so again um you can see that this from a national perspective is quite an Endeavor um and we were the first two Market preo which is very important for some of the things that we'll discuss in a little bit uh we were founded pre-co and um we you know structure our company compliance wise you know uh before any laws were we lacked so we essentially are are are known as the disruptor or we've revolutionized Healthcare in many ways because we're the first company that essentially has tried to create a Mobile Medical uh Workforce so um to that end we we started with a very attainable service that was very much in demand and I'm going on kind of the Journey of the of of the of the uh of the company here so we started out with IV Therapy um we started out offering um you know our ends the ability to join our platform under the same uh governance uh medical Direction compliance that uh that would make that legal to to monetize their credentials in that state with the vision of again becoming the the the nation's first Mobile Medical Clinic to do that obviously we have to have other services we have to have a foothold across 50 states and that's why I'm going to discuss uh some very exciting things that we have achieved in 2023 which which really were were the final pieces of of the eventual goal so um we're known for revolution izing Healthcare from the mobile side uh this company due to its model um there's 4.5 million nurses some of the numbers that we're about to discuss are based off of 3,000 nurses in the country uh or ends specifically um we are we are coming at this from a very different way in that we are trying to be in addition to not replace of um the current health care System we're trying to relieve the stress from the hospitals we're trying to improve the the working practices and the lives of the of the healthcare professionals which are the backbone of the healthare system in the United States if that goes down there is no healthcare system so some very exciting uh things that we have that we have achieved in 2023 of course um we'll go into that um from a financial perspective as well as as well as a structure perspective um some of the things we'll discuss are the amount of patients that we've served the branching off into additional Services uh some of them higher level of medicine and obviously the scaling um of our pharmaceutical site and the widening of our offering that is not just nurses and healthc Care Professionals it's also bricks and mortars that also need our our structure our compliance to be able to offer these types of services so we'll go into those things um as as we scroll down so um again from from a from an operational highlights perspective in 2023 um our Focus was very much on structure what whilst we're very bullish about the opportunity that this company has and and when we talk Revenue numbers and year on-ear growth you'll see that trajectory uh whilst we're very bullish of where this company will go can go and um you know the the types of revenues that we're expecting and the dent that we're going to make in the healthcare industry um we're very cautious on how we get there so um 2023 was very much a structure um both operationally and um uh the underlying compliance structure so we we actually Co from a pandemic perspective was not actually finished until early 2023 most people don't know that so from a legislation perspective Co did not actually end the pandemic that we know of Co did not actually end until early 2023 so laws that were relaxed within that time we wanted to go back and look at legislation again um what our company is is medical company across all 50 states so we wanted to look at the boards again so we we did a um very um very um analytical down to the minutia of each uh of the three state boards across all 50 states uh from a legislation perspective what is being brought back in after Co what is coming down the road what has changed within that so that we could set the company up for Success so that we could plan accordingly for the years to come like we had done in 2018 preo so that was a huge Endeavor because it it it set the company up for success for expanding our services expanding them in the right way not getting surprised by things from a compliance perspective in six months time um so that was a really really core thing we also um expanded our operations uh we added some divisions in our business to support our nurses from a success perspective so we added um tremendously into our onboarding um and training uh from initially so from a tech perspective from an understanding of the business model perspective and then obviously from um getting these these nurses to get their first clients and get and get off to a off to a successful start of their of their Journey here uh we also added a business success um that works with them throughout the uh throughout the throughout the year in many ways um not just marketing or not just um you know getting more clients but uh being able to offer more services being able to stay in touch with the with with the the nurses as to as these Services roll out and that has had a tremendous impact um we expanded into 700 cities um obviously an increase from the previous year um we expanded into um higher levels of medicine and services I'll get into that in a second but one of the things that come from our compliance and again while we're we're spearheading this mobile medicine um you know Endeavor across 50 states we we known as the company to follow the company to watch what we're doing um so we actually expanded our doctor Network in in reaction to some of the things that came from our from our um uh 50 state review uh of the compliance so we expanded our doctor Network to over a 100 doctors to facilitate the services uh to so that our nurses and our patients are acting in a compliant fashion again um integrating all of that into a seamless system is something that nobody else has so the amount of planning work and execution that went into that was tremendous our team did a tremendous job um and you can see from the from the financials um uh and the amount of services given that this was a tremendous success so that was a big those two on their own were a really really heavy lift so to speak for the company um we we we planned very in depth from a um compliance side of things from a execution side of things and then a roll out perspective and it has been a tremendous success and I'm very proud of all the all the team members and the work that has gone into that um one of the other things that we did was we expanded our customer base if you want to think of it that way rather than just being Healthcare professionals and our traditional model that most people know hydrate we have solved a lot of problems in this industry because of our structure so we have actually expanded into uh the bricks and markers that need elements of our structure whether that is the um Mobile Medical Network whether that is the um the legal compliance from a from a from a medical Network perspective from a from a state perspective um or whether that's access to Pharmaceuticals in a compliant way access to our doctor Network um we have we have solved a lot of problems there so our expand our white label solution we have expanded out into 107 locations that's growing month- on month um really aggressively um as I said we we had we had an eye for the overall vision of the company to start increasing our service offerings from Simply IV Therapy um which was done in a very strategic way so we added obviously NAD plus which is like a super drug for the body very much in demand high level of medicine requires a service provider perfect um type of product uh for for for a a mobile service Army we added um the glp1 side of things which is semi glutide tepati these glp ones that everyone has heard of but hydrate has done this in a very different way um the Poison Control Boards New York specifically went up I think it was at 3,000% in one month from from overdosing because of how it is being done in the in the uh in the market right now which is essentially the wild west people are going to websites they're ordering these gp1s which are high level drugs and they are self- administering um um without pretty much any medical oversight H hydrate went about it a different way and hydrate went about it a different way because we are the only company that that is set set up to go about it a different way no other company has a mobile Healthcare professional Workforce so could not go this way how hydrate handles the uh semi glut glp1 is very much from a medical perspective um our nurses go out they collect a blood sample uh because of our our 50 state lab partnership we're able to send that blood sample back results come back to the app in 24 to 48 hours um that those results are reviewed by a doctor again connected to our app so this is all C for the patient um upon the results of that teley medicine uh visit um glp1 may or may not be ad issued um and the dosage is required our nurses then come back on a monthly basis for a BMI check uh again a doctor visit is initiated and dosage um for the following month is is given appropriately at that point so this is the highest level of care in this glp1 space and what we're seeing now is akin to uh um you know it's again to any kind of um praise that that happens this is this is just the start of this glp1 um you know um um kind of kind of kind of offering there's going to be a lot more of these so hydrate is coming at it from a from a medical perspective we launched this in December a very soft launch just because there was a lot of moving Parts as I have just described we wanted to to monitor the success of this uh for our patients and our service providers and obviously we were integrating with with a lab so we wanted to do that very strategically uh ramped it up again in February and we we have seen tremendous uh results here that we'll get into into shortly so these additional offerings are really adding to the um the services that can be given by our nurses which in which in um in a direct result of the success of those nurses uh we are subscri subscription model so then obviously the followup uh year um from a from a from a renewal perspective is very strong and in the overall offering one thing to add to this it's not just the fact that hydrate has a has a Mobile Medical Workforce because of our pharmaceutical Network and because of the way we work with these pharmacies across all 50 states um we are able to offer what I just described cheaper in many cases than the traditional way they're getting their gp1s from a website with almost no oversight um from a medical perspective so it's very very attractive for the customers and patients it's very very attractive for the nurses and just to highlight before I move on we are the only company where Healthcare professionals can get involved in this type of service so it makes the platform incredibly attractive um just moving on with some other operational highlights um so as we have been obviously growing the platform um we we have really focused on our organic growth initially for for 2021 2022 uh we wanted to empower the nurses we had to get a footprint across the the country uh to be a national uh Nationwide Medical company um and to be a household brand we had to get across all 50 states we had to get a foothold in the cities and we had to do those things that are that are challenges for any model of this type um we had to get that Workforce before we could do some of the bigger things some of the bigger things that I'm referencing um and there's many more of these to come but this is the one that we can actually speak about uh because it was announced is alla digital health so Alla digital indirectly and directly has access to approximately 10,000 retail pharmacies across the United States we we went into talks with them for a number of months regarding the ability for them to turn the front of house into wellness centers use utilizing our hydrate Network and and and and service providers to actually provide the services so for the for the bricks and martar they do not have the overhead of having a a nurse or an MP or somebody on site or a doctor to do teley medicine visits um we handle all of that from the hydrate side and the service provider will come and provide the service they also will are actually purchasing the Pharmaceuticals because it goes on the 503a side uh five 503b side excuse me uh they also are purchasing the Pharmaceuticals from us so it's it's like having the ability to get 10,000 new subscriptions if you want to think of it that way but even bigger than that um these um this initiative they will be marketing aggressively their facilities which mean that uh there's going to be um downloads to hydrate patients are going to be driven to the hydrate app to book the service uh nurses are going to be a lot busier um and we are obviously going to be um you know aggressively uh growing that we have launched this uh last month so this is not something that we're future forward facing we are you know uh monitoring an a beta test with 10 10 locations in Florida and um we're very very excited about this one I see more of this type of endeavor but again we had to have the workforce across 50 States we had to have at least achieved that threshold to be able to service these types of initiatives I see this type of thing um happening I see hospitals uh utilizing our mobile force and these are some of the things if you've heard me talk on webinars before that is the future of this company um this company had to get here this company has to keep going on the trajectory it's on but we will eventually um be able to service these large Healthcare organizations um the SEC one of the bigger things to to support all of this um outside of our operational um uh you know scaling of our departments and that I have spoken about was our technology um to be able to Branch into these other services um requires you know um customize customized software just the flow I described for semi glutide is not a traditional flow that we use for other services that had to be built some of the offerings that make us very attractive to the bricks and mortars for example again some of that has to be customized um and also building everything with a with with an eye of scalability when we have you know tens of thousands of of of users hundreds of thousands of customers we we had to build things accordingly so um very much very much um um building year on on that side of things and and it's already paying off as we'll talk about in the numbers here um legal research from 50 states um kind of alluded to that um that was the that was underpinning the the um the overall business model um setting the SS um very very clear for hydrates future um and going from there some of the some of the more fun ones we got named as Canada's uh you know top uh fast 50 companies to watch by Deo um obviously that was very exciting that's not something they hand out very easily um so that was a bit of recognition I think in the marketplace um we are in the middle of um identifying and obviously speaking with some potential Acquisitions that could expedite some of the things um again on webinars I've been on before or speaking with uh speaking with individuals interested in the company I have I have talked a lot about this company um not being tremendously difficult to to 10 20 30X uh other companies can be very difficult but because of our model um we can we can expedite the revenue um with W with minor moves so we are looking at some very strategic Acquisitions that would directly benefit our revenue streams and our and our Revenue um our overall Revenue so um there'll be more to to come on those um some of the spaces they're in just so just so that we're know we're talking about would be the pharmaceutical side um the lab side of things and then obviously um the marketing side of things to drive patients to the medical Network um in terms of financials um 20 23 was was 102% increase on the year before 17.05 million Topline Revenue 11.51 million uh Gap Revenue which is 170% increase on the year before and an overall uh gross margin of 4311 per which is in line uh little increase but in line with the previous year um some of our some of our priorities for 2024 so much as 2023 was a structuring and um planning year if I would call it that whilst continuing the revenue increase of course uh we're very much passionate about um turning turning the scw on the profitability side now so um all of that work that has gone into 2023 is already showing off in 2024 um obviously q1 and things like that I cannot speak about but 2024 is on a tremendous trajectory um we are very um confident that forward you know no later than Q3 of this year we will be profitable um from a cash flow perspective um and we will continue to push that as one of our one of our absolute main agendas um Capital Market exposure obviously we're we're new to the Capital Market um you know at December 2022 we went public um we we have done um quite a few uh conferences we have done uh quite a few one-on ones we have done um some some investor relations multiple multiple companies and and and and multiple Endeavors we're going to really push that in 2024 um we're going to get the word out in a in in a different way we're going to we're going to we're going to really push the the um we're going to really push the the press releases we're going to really push the the messaging that's going out um uh larger investor relations um um strategies and and and really get that word out so we have a few strategies that are that are based around that and um there'll be there'll be more coming on that point um scaling the business and driving organic platform hading nurses and customers that is something obviously that we had really pushed on in 2023 we have a number of initiatives that we are that we are going to push into um that are going to drive customers to the platform customers and patients in in large numbers um won't go into it too much on this call because it's more of a it's more of an overview but we are um absolutely one of our biggest strategies for 2024 is to increase the number of patient visits dramatically um flooding the platform flooding the nurses um not just in the traditional sense but sometimes in a B2B relationship like you've seen with our Ola digital and on other things but that is one of our biggest initiatives um increasing the service levels um more products to come so of the of the of the services that I said we added to make us a true mobile clinic not a not a one service um company uh we're adding at home health at home lab testing um in Q2 of this year um again that requires its own specific flow that's slightly different to the other services so uh this that's scheduled for Q2 of this year that will offer a whole host of Home Health Care testing um that our nurses will go with our lab partner results come back immediately and then Future Care can be added from those results um so that's really really into and phenomics is something that is big um individualized Healthcare is where Healthcare is Going H not just general I want this because I feel like this no no no what exactly is wrong what exactly are your um are your Tendencies with your body so DNA testing lab testing these types of things to give you specifics and then the care can be appropriated from that but you need a network to do that so those are some of the things we're super excited about releasing this year and we're going to have a tremendous impact um uh some of the other ones that we're looking at is as I talked about the the bricks of mortar um offering we're going to uh release a point of sale system um for our bricks and mortars um in Q3 of this year um this is going to have a pretty dramatic impact and a pretty quick impact on not only Revenue but engagement um with patients and the bricks and mortars so the way we facilitate our bricks and mortars right now is more from a service side of things the pharmaceutical the medical the tele medicine the tech that side of it um we're actually going to Branch into offering an in-house Point of Sales system to to be the One-Stop solution for all of these bricks and mortars again why are we doing it now because we had to have customers to begin with so it's similar to our nurses branching out across 50 states and then it opens us up to do other things like the Ola digital and other b2bs we had to have our our stabilized um our stabilized core of bricks and mortars to actually make this viable um so we're there that side of the business is scaling not only on our white label side but our facilities that actually that actually utilize all of the hydr features um so we're going to release a point of sale aspect which is going to be pretty tremendous um we're also looking at an AI aspect um following up the um the customer data so like I just spoke about with the lab testing the phog genomics the individualized healthcare having an AI platform that actually takes all of that data based off of obviously um you know protocols policies and procedures and gives um a determination of what should be given by one of our healthc Care Professionals that is also going to be incredibly powerful so um all of these things are are super exciting coming for uh coming for for 2024 um so that's kind of the overview of 2023 I know I I ran um a little bit longer but there was quite a bit to get there um so um I'd like to um first of all ask V sh if he has any comments um or else we can go straight to some questions no I appreciate it Shane um very quickly because there's not much time I'm just going to add a few pointers uh regarding uh you know what the focus was in 2023 and and and 2024 so as Shane mentioned in 2023 we focused a lot to uh become the Mobile Medical solution for every uh every individual every company wants to offer that and not only to for nurses so our system our flow our technology can be used by break and Motors by people who um you know have site business by nurses and all that now if you want to look at some similar comp in the market it's a very similar business model as company like trills the troops they have come up with the full flow with technology and connection with thees and all all that that you know they become the technology of that offering that some larger companies come in and you know wide label the whole thing put their skin everything else being done on the background hydrate has become that solution right now that's why you see this many uh new white label locations this many new white label franchises coming in the other area of the focus was if you look into the United States Healthcare there are some larger uh chaines such as bvs Walgreen and all that they have tried and they're trying to to start offering services at locations uh which has a direct um solution through a healthcare professionals uh the Chen the main challenge that these uh pharmacies have they don't have the structure and the and the force uh behind them to have the resources to us that offering those which in case of the Hydra we have access to that so the the the other project that we started with Ola digital is the perfect marage of the two units they have access to these facilities we have access to their structure and also we have access to technology and the nurses and we can also Empower our nurse Network by giving them a place to offer these services and startop marketing their services through these pharmacies that people are going into so those are the two you know comp that you can look at it on some of the things that hydrate does now when you look at the SAS modotto companies usually the SAS modotto uh when you look look at anywhere between 30 to 40% year-over-year growth is a very high number for assas businesses now if you look at even larger companies that you know right now they're unicorn companies um for the first few years you don't see much of a profitability because it's all about bu building the foundation and a structure that the business can be built on now we're talking about the business that year-over-year had over 100% growth now again one year maybe we had 98% but almost like you know um triple digit growth for a business and continue growing in in that sense therefore in 2023 uh we had to invest in the business on some areas that if it didn't would have been the most expensive decision for the business such as some structure around the legal some structure around the technology some structure around our medical Network and all that so as Shane mentioned in 2024 our main focus is aiming to be uh you know a profitable company uh by um you know if not earlier by end of Q3 now one thing to consider if you look at the recurring operational cost of the business that means if you take off what we spent around the Capal Market activities from audit to everything that is related to the capital market and if you take out um a potential liability which is a sales tax that is again it's under review and it's not a firm on that the company you know has done a um good job in a way that invested in the business that had this much growth in 2023 and open many new doors from the potential business that is coming in and diversify the type of The Bu businesses that is underneath and go from there obviously in 2024 profitability is one and the second thing is exposure in the capital market now one of the advantages that we have in this uh for for the Capital Market we have many partners per se which are these nurses that are helping us and and coming on board and their patients that um you know again we had like one question earlier today in this webinar that one of our providers wanted to see how to become an investor so that's one group that uh we're going to start educating them on who we are what we do because at the end of the day uh they have a direct impact in our growth and we're here to serve them and you know they are the best potential partner for us to become an investor so H anyways uh Shane walk you through uh you know uh over the whole thing for 2023 I just wanted to add a few pointers on the vision of the company and why we invested that much uh time and effort in 23 on those areas so with no further ades we can go to the Q&A uh we'll keep it short and if there is anything question that we can answer we'll be more please email us at ir hyra.com and we'll be more than happy to to answer those um I can uh uh read the question question um uh someone asking uh do you have the number of the nurses in 2022 versus 2023 so the total number of the nurses uh on uh on the platform in 2022 was roughly about 2,000 in the end of 23 they the the whole number of the nurses was around 4,000 um that you know including everything that you know we have some license holders we have some uh people that work under somebody else's license but the people has gone through our platform um is there any way to Branch out into the home uh dressing changes for the patient that have been discharged from the hospitals but they still need a service for dressing change and one monitoring here in Canada my fiance work in the Home Care uh through the hospitals so H to answer that question yes the first step for us was to create the structure that we have access to the pharmacies we have access to the nurses we have access to the doctors and we also have access to uh the lab that's the main four uh pillars of having the Mobile Medical Network um definitely getting into the essentials which those are all included is one of our plan to get into that um and as Shane mentioned uh you know we focus on adding more products and offering to be to be offered because again for us is not only adding one product for people to get it we review the legal uh uh legality based on for 50 states in three different boards work with our medical director our doctors our pharmacist and come up with the flow to make sure it's fully compliance per States because those are different but to answer the short answer to your question yes that's part of our plan that is GNA be done uh Jane if you want to add more to that question please no that's a great question and that that is kind of hinting at what I was what I was saying at the start is when you release a a uh idea a a um a revolutionizing company like hydrate um there's steps to it right uh and hydrate is kind of a doublehead we we have the the business model at hand which is the first company that gives nurses the ability to monetize their credentials we connect patients and and nurses and doctors like never before but once we expand that Network which is what I kind of touched on that 2023 was that pivotal moment it opens us up to the second one which is actually to be the the first line of defense in the eventual solution of the healthcare problem which is the over um the overpopulating of the hospitals because it's all reactionary there is no first line of defense preventative medicine uh mobilized Healthcare to get the first step so that it doesn't get to the hospital that is the eventual goal so great question and those are things will be absolutely um absolutely but you have to have a foothold you have to have a presence in all 50 states to be able to do those big initiatives uh thanks Shane um next question I'm a provider how do I become an investor uh again it's amazing to hear that uh we're publicly traded company as we talked earlier about our you know public exposure um in us uh we're at on the Q QTC uh QB and the terer is hdtf uh do your own due diligence and uh you can have access to um to basically that platform and our stock in that on the platform is the AI pce built so um we're going to have more information about the AI just to give you a background and highight on that right now we hear a lot of stories and news that is coming from AI but AI is only as powerful as the data that you have and you should be able to monetize what is coming from AI we don't want to have another story that hey we're building an AI but hey we need the data and we need to monetize that right now after adding the blood test we do have access to a lot of patients data in a way that we look at uh different uh blood test uh uh you know deficiencies uh based on the area race age uh medical conditions and all that and based on that we have some solutions that is preventative is you know it can help them with their health uh so the what we are working on the AI it's going to be an addition to the hydrate app which is not going to be you know writing from scratch that by having all these data we come up with a treatment plan that is going to be done in six months 12 months or 18 months based on their goals and some of them is based on deficiency for example like if you're in this age and this is your uh blood test and you know you know these are the criteria that you have you have and you're living in in an area that you don't get my son and based on your blood test you have um deficiency as vitamin indeed so now uh you know based on our our phes and medical director that we're going to have a full menu and full kind like a uh treatment plan you're going to be on that and it's going to be offered the same services that we have so basically what we're trying to do with same data that we have the same product that we have we're going to use an AI machine in between base on this data and the results that we're getting we uh formalize what they should get to get the best results we're going to have more info on that piece um you know in the next few months but that's uh part of the plan that we have and again it's everything is based on what we have today so we don't have to go and do something crazy uh you know out of uh the daytoday at planning and the long-term planning and road map that we have so uh keep in mind that ultimately the only effect that's meaningful to investor is the performance of the stock uh that's understood and uh you know definitely that's a great point at the end of the day um there are two parts that we're focusing on one is is the operation of the company and make sure there is a company that is growing and we have the infrastructure and Foundations obviously uh you know we need to have uh we need to do a better job in the Capital Market side uh by getting more eyeballs on our stock but uh the company is moving forward and this is not a company that is based on stories and wish list this is a company that has three years of uh um history on the growth we're going to continue it that way and uh you know as mentioned earlier definitely 2024 one of our priorities is to share our story with more potential investors that is going to automatically help the market now there are some few things against us across the board with the you know with with the market situation for the Capital Market especially the small cap but again with all saying that we believe with the way that the operation is moving forward and the company is performing and if we do a better job by sharing our story with more potential investors and uh you know um crossing the out uh we should see a better results on on the capital markets um has there been any interest from larger corporation uh to buy out hydrate um these are again uh in any business there are uh you know again things behind the scene that you you may get questions you may get offers and all that so if there is anything we believe in this company and the growth we're going to continue putting our heads down and and you know adding to this and moving forward um obviously if there is anything uh for lack of better serious that is going to go we have we'll share with the market and we let everyone know and and we'll take it from there uh the elderly needs uh so much will we we ever be able to take Medicare on any insurance product or will always be a cash or credit sh would you like to answer that question yeah um cash um is definitely the cash based business is definitely the model that has the the the longevity once we start going into Medicare Medicare um Federal um oversight it's very very complex um and is not a path that I see um this business going on um the opportunity isn't as big as one would think believe it or not um Medicaid Medicare and the companies that service them are are have been around for a long time they do very specific things The Wider scope of having a nationwide Mobile Medical Healthcare and servicing hospitals and servicing at home health as well as what we do traditionally is far greater than that and that can all be done um uh the way with the model that we're doing now will we partner with companies that have the Medicaid Medicare pce absolutely hydrate specifically are not is not going to get into the space of accepting insurance payments but we will service companies that do that so so so yes uh we will be going down that route in the B2B side of things as as as we as we scale even more but um accepting the payments ourselves ABS absolutely not um uh I'm going to uh read uh one or two more questions um and then if there is anything left please feel free to email us and we'll be more than happy to um to um answer those questions just keep in mind we're going to continue uh updating the market uh and again if you look at our record track we we usually like to update the market on what has been done rather than you know what's what's got to be done so you have a high level uh plan from the company but uh again it's we just want to be one of those companies that we actually show and showcase what has been done in the company um so uh how much of the nurses visits are recurring are you going back the same patient um that varies from uh the uh state by state city by city and the type of the uh products that they're getting so when you go something like you know on on areas uh such as like Vegas or Scottdale that you see some IV drips you see some people that they're just literally for their visit their visitors they go they do that some do it on ongoing basis but you see a lot of one timer or two timers that they do that but when you go something like glp1 or semi glutide that people are using it to help them with their weight loss they have to be on it on the monthly basis otherwise first of all it takes three to six months to see the results and then uh if they go off that uh medication they're going to start losing the impact that medication has or if they go on any plus which is anti-aging that they want to do so or you know uh so it all depends on type of the services and the areas and the the the the the kind of like the patience that each nurse has as their client base that they work so it's very varies from uh from area to area but and also the product to product uh so um there's also a question that uh what's your Revenue Target for 2024 um as you know uh in 20 23 uh we've been projecting roughly about 16 million uh Top Line uh and 10 million uh Gap uh which we could you know surpass that one in 2024 um obviously again um any SAS company it's uh anything over 40% it's a it's it's a really high growth percentage but there are few external factors for us that we're going to communicate that to the Market within the next 30 to 45 days including acquisition including some of the new products that is coming in uh but um as Shane mentioned as as as one of the priorities growth steel is one of our top priorities and we don't want to slow it down now we do have um the way that this has been structured because um you know now we are into the breand motors and now we are into uh some franchises that we're part of the franchise agreements and they already sold few hundreds uh if not thousands of locations that uh we know that business will come for us this year next year and the year after so it's kind of like a guaranteed Revenue that we're going to see from them coming in um obviously new uh franchises and new location being you know signed up with us as we speak um and also on the on our nurse Network side we have a steady growth on the number of the visits on the service sales as well as the um the number of the nurses coming on board with us uh obviously one of our focus on that area is to focus on the customer side and and help our nurses to uh to get more customers and flood them with the new customers coming in and you're going to hear some news within the next 30 45 days on some of the initiatives that we started it um but again for a company um our size with number of the people that we have full time and and the amount of Revenue and the business that we have we always have to prioritize what we can do to be more efficient uh for our team for our customers and more importantly for our shareholders so I'd like I'd like I'd like to add one thing on the service side if you don't mind just so that everybody can visualize the expansion of this um all of the services that we added last year um whether it's the glp1 space or the peptide space are recurring monthly Services uh for glp1 for example the customer typically stays on that medication for about 18 months on average um obviously with different dosages so um these Services obviously IV therapy for the longest time for the people who use it you know um for health and wellness uh that is a recurring uh medication also but the gp1s and the peptides are monthly medications um and the flow and structure that is built with our nurses is monthly engagement so I just wanted that to make clear that um as we scale that is an ongoing um um service line um so I I appreciate um everyone's time and and and support um just one last question that I think it will be key uh it's about some line items in our financial from the cost and Consulting perspective that that is growing just just to mention few things for for you guys to know the structure of of our financial and our business because we are a a med a SAS medical company the the flow of the money is one of the most important things from legal perspective that is coming to our company and the fund will be distributed through different channels now um one of the main uh as the company grows uh many of the the cost per se in the balance sheet for our company has a very direct relationship with the amount of the services being offered because for medical directions for example for Doctor Network and all that is per visit or is based on the service that being paid off now uh you see on the and they're all in our uh the are a structure they are Consultants to our company that they have their own legal structure uh for liability purposes uh that based on number of the visits based on the volume that is coming in they get uh you know they charg US based on that so as our companies start growing uh some of those line items uh it's going to increase with our um with with the revenue and that's the structure that is going to be um for example the medical uh Direction fee uh is 5% of the services that is coming in and that be paid by our service providers but we have to pay them on behalf of them when we collect the money from the patients so that is going to be one of the line items as a consultant that you know there's a you know is going to go to our medical Direction EV now one of the things that make us very compliance in every state is the fact that we mandated every single service to go uh to be done after a patients and doctor visits through our app so meaning you can't even get the IV drips without a doctor to see you uh you know for you know for a of time that doctor can sign off on the prescription or you know on the order for nurse to deliver that so all that is going to be charged and has to be paid to the doctor so some of those line items again I see some uh one question about that just wanted to point out on that one that that's the nature of our business and that's how um basically works and there are all 1099 contractors that has to be paid off from Farmer account to those and has a direct uh relationship with our total revenue so uh again once again I just want to thanks everyone for attending the webinar um and for your support uh you know um uh very uh proud and grateful for the team uh that uh you know they they have a lot of heart and dedication for this business to grow we're very excited for 2024 definitely there are areas that we can do better and including the Capital Market side that is going to be one of our main focus uh and uh you know we're always open for any conversation if there is any question pleas feel free to email us and spread the word about the company and see you know who else might be interested to hear more and learn about us uh thank you everyone I appreciate it and we'll send the recording to everyone thank you thank you so much
2024-05-11 22:52
