- for today’s announced set of contracts, implementation plans are still being developed
- Today’s announced contracts were NOT the big contracts Dr. Crossley has been referencing
- Revenue run rate is based SOLELY on recurring subscription revenue
- 100% on track for year-end 40k patients onboarded… currently over 30k
- On big data, most availability of such is reliant upon subjective self-reporting and therefore of limited value to insurance companies and pharmacy. Reliq’s device collected data is objective and of greater utility. Potential exists to generate hundreds of millions in annual revenue from bid data at $20/record that can be sold and parsed indefinitely according to the wishes of the various buyers. Big Data remains at best a 2023 opportunity.
- Emphasized that revenue run rate and the subscription revenue received will be “REGULAR, CONSISTENT, PREDICTABLE, RELIABLE and RECURRING”… in other words Dr. Crossley used nearly every available adjective to drive home the point.
- Receivables will be fully collected by the end of Q1 CY2022.
- Regarding the Dec 2020 12,000 patient contract, most were onboarded by end of June with the rest in July. Covid slowed things the first 3 to 4 months of 2021.
- Onboarding going VERY WELL now, but almost impossible first 4 months of 2021
- Re the “theory”: somewhat confirmed. Some patients left on platform even though the physicians and HHA’s could not bill because they were unable to provide the required service and visitations during early pandemic. Reliq left on platform and expects these patients to now be billable.
- FY Q1 2022 (i.e. Sep 30th ended) will be first quarter to begin reflecting more normal operations. Q2 will reflect FULLY normal operations and is on track to TRIPLE Q1’s $1.5 million.
- Further, FY Q2 will “CONCLUSIVELY AND RESOUNDINGLY “ de-risk the investment for conservative investors wanting evidence in the financials. Investors will be able to MODEL on a go-forward basis with the Q2 data.
- Likely to get analyst coverage soon. Had been a challenge insofar as many shops want to tie an underwriting to analyst coverage, but Reliq doesn’t need to raise capital.
- A capital raise even for big clients may no longer be necessary, but Dr. Crossley left the door open to a very small one if absolutely necessary. She really downplayed the likelihood though.
- “Big clients” may look to onboard 30,000 to 40,000 clients in first month. The 40k is an increase to the previously hypothesized number of 30k.
- Numbers are going to get “PRETTY CRAZY, PRETTY FAST” (her words)
- “No question the share price will reflect the data coming out the next two quarters” (again, her words)
- Nearing finish line with the much discussed big clients and expects a “Christmas present” to shareholders prior to year end