The update past the June quarter shows how the company hasestablished a most positive build out. Major revenue is being added!! With potential vastly possible. Bashers bewarrey. It loks like management has learned from their past problems and are confident in their ability to handle the coming growth.
During the quarter ended June 30, 2019 and subsequent, the Company: Expanded throughout the United States, with clients operating in 15 states. Signed 32 new contracts. Expanded into new verticals including Residential Care/Skilled Nursing, Pharmacy, Personal Emergency Response and Adult Medical Day Care. Partnered with a US Pharmacy Network on a new outreach model aimed at providing their prescribing physicians and patients with new options for managing chronic conditions. The partner manages pharmacies in 10 States, primarily along the US East Coast with a network of 10,000 prescribing physicians. Launched the iUGO Home product line leveraging advances in wearable technologies for fall detection, two way video communication and geofencing. iUGO Home is aimed at seniors aging in place or receiving care in a Skilled Nursing, Long Term Care, Hospice or other Residential Care Facility. Added >2000 new patients to the platform as part of a gradual return to onboarding. The Company elected to very gradually onboard new patients to confirm that all associated revenue would be billable and collectable before accelerating the rate of onboarding. The Company has now validated its business model in Texas, confirming that claims submitted by clients to CMS for services delivered by Reliq have consistently been reimbursed. The Company expects to have over 10,000 eligible, billable patients onboarded by December 31, 2019, with onboarding ramping up significantly in 2020. The Company settled all actions against former employees of the Company as well as various individuals associated with the former employees (altogether, the “Individuals”) in the Ontario Superior Court, the United States District Court (Southern District of Texas) (Houston Division) and another court (under seal). The Company and all of the defendants agreed to settle all claims and causes of action between them and all actions were formally dismissed by the Courts subsequent to year-end in July 2019. The Company received an initial $200,000 settlement payment from the Defendants in July 2019, with a subsequent $200,000 payment secured against Defendants’ personal property and due in April 2020.