Reliq Health Technologies Inc V.RHT

Todays news is a positive but raises a quandry in my mind

[HHHAPPY]

"We expect to work through our backlog of over 200,000 patients in the next 18-24 months as the healthcare sector continues its recovery from the global pandemic.”
 If they have a back load of 200,000 patients , how come the new patients they are announcing are being uploaded immmediately?
What am I missing?
As well, 200,000 additions  if $65.00 per month gain =$13 million a month! Surely emphasis  on uploading should be first priority??
Comments?

[ryang999]

It's very confusing and self contradictory if you scrutinize their NR. They keep saying they have a backlog of 200k, but then what have they done to accelerate the onboarding process? Nothing. But when the CEO is pressed why they have a backlog but have done nothing, her answer was its not up to them and it is up to the clients. Then this can not be called backlog. Until the clients decide to

[theinvestor22]

Usually, when a company refers to a backlog, they're talking about unsigned contracts that they have a good chance of signing.  In this case, the company is being conservative in that the contracts are already signed and they're projecting the time frame until patients are in the system. This is not like signing a construction contract, after which time the building gets built. 

[lscfa]

co. has missed its guidance of breakeven by June 30 so now it will reiterate incessantly the $2 mil/month revenue run rate by Dec 31 for the rest of the year.   

[watch22]

iscfa... what do you mean they have missed guidance? June quarter has obviously not been reported yet!  Do you have inside information?

[Tdcpigc]

They commit to an update on profitability prior 4Q report (see last CC June 1st), do not mean july but can come any time in next coming weeks. And the company remains on track to achieve profitability in the current quarter which means by the end of this very month, the company will be profitable, which is a very significant milestone for Reliq. Obviously, that's really for any company.

[lscfa]

Last time they couldn't wait to brag about breakeven. 11 days after qtr end.... https://stockhouse.com/news/press-releases/2018/01/11/reliq-health-technologies-reaches-over-6-000-patients-live-on-its-iugo-care

[Tdcpigc]

Everything possible, in the last five years no good surprise with Reliq, not surprising unable to trail above $1

[lscfa]

Co. is not telling us a whole storey. At Dec 31, 2021 $2 million run rate = 40,000 patients. 2022 revenue is $32 million so run rate at Dec 31, 2022 is $3.33 million = 66,666 patients. So in 2022 patient growth is only 2,222 per month. WTF?  

[theinvestor22]

I'm not sure how you did your calcs, but it seems to me the you're comparing $32M estimated 2022 whole year rev with 2021 year end run rate, which are 2 different things.  If you were to compare the $32M 2022 estimate against the $11M 2021 estimate, your calc might look different. Also, please keep in mind that the company has said it expects to revise future estimates higher at some

[lscfa]

I'll dumb it down for you....         Patients Revenue 2021 December 40,000 2,000,000 2022 Jan 42,222 2,111,100  

[theinvestor22]

Thanks for the breakdown.  This is an honest attempt to make sense of the company's somewhat dated 2022 estimate.  Although it is an estimate of an estimate, it is internally consistent.  My second point still stands, that the company has said it will revise estimates (upward) as the year goes on, so I don't think the calc overall is particularly relevant at this point. I

[watch22]

pretty obvious that if the ultimate patients get onboarded... then the 2022 revenue will be much higher. Not to be morbid, but these are chronically ill patients, so there will be some "churn"

[Mongoose]

Iscfa - I understand what you are implying about the 2200/mth customer growth from 2021 to 2022 by your calculations. However, remember that they are losing a % of their customer base every mth from drop outs ( patients leaving the program for whatever reason ). We have no idea what that % is but lets just say 5% per mth for shits and giggles. When they are at 50,000 customers, 5% translates to

[ryang999]

Can you blame him after the management broke their promises again and again, painted you rose pictures only to silently dropped them a few weeks later? You'd be very suspicious of what the management says. They had 200k backlog a month ago, and they have a 200k backlog a month later. Then what has been done since June 1st?

[watch22]

can you point me to where they have stated they have a backlog of 200k a month ago? (I've just been through all their new releases back into May... didn't even see it in the Q3 numbers) thanks

[jtmoney]

It was from the last WSR streamed on June 2nd  You can easily find it on YouTube  Glta 

[ryang999]

Yes, she said in her WSR interview beginning of june

[ol_griz]

Full agreement here.  I jumped in far too quickly on Lisa's word, not realizing the built-in opacity of their projections and obfuscation in their reporting.  This is a badly run company, not necessarily in the operational sense but in their responsibility to shareholders.  You might make a lot of money here yet, but when I hit break even, I am GONE. 

[Tdcpigc]

CEO claim they will raise forecast end 2021 ... but can you trust them ?

[ryang999]

fool me once, shame on her; fool me twice, shame on me. No, there is only so many times you can trust a person, trust has to be earned, not given, not  unlimited.

[Lifeboat1]

Ryang999 How many times have you been fooled by the Company.  You started posting about Reliq on May 15, 2021.  It's possible you have been following the Company longer than that but I doubt it.  Given your lack of knowledge in your first couple of posts.  Now you just mimic the other  clown posterers adding no value to the conversation.  Do you have an original

[ryang999]

Lifeboat, if rht ended up failing to reach break even or what she calls profitability which has mentioned multiple time, I personally will sell my position and leave.

[Lifeboat1]

Ryang999 That's a win win for me.  Either they meet guidance or you sell and leave (I hope by leaving you mean not posting)

[ryang999]

Lifeboat, that is very strange for you to say that. Last time I checked this is a public forum where everyone can express their opinions and thoughts. It is not your private chat room. I hope you realize that now if you have had some sort of illusion that you are the one to dictate who can post here and what people can say.

[Tdcpigc]

Lifeboat is just a grupie, purchase at 17.5 cents and look it made up/down since years without booking profit while it was possible to book +400% gain in 2-3 months recently.

[theinvestor22]

Immediate uploading just means both parties will be able to commence uploading right away.  The backlog doesn't mean that the company is behind in doing anything, just that there are >200k patients that are expected to be in the system over time as their counterparties do the work of onboarding.  Also, I'm sure onboarding is a priority, but I don't think the company should

[theinvestor22]

Sorry, I shouldn't have said "mutually exclusive".  Should have said "an either/or proposition". Regards...i22

[Lifeboat1]

I have asked many of the same questions to IR and Scott is good about providing more detail on Company statements without revealing anything new.  I encourage people to send questions to IR and not just pose them here. I have been told not to confuse the backlog with the pipeline.  The backlog is part of the pipeline but the pipeline is much larger.   As far as the backlog

[teeswater]

Thanks for sharing this LB. Makes a lot of sense and answered some of my queries.