StockItOut
7 months ago
Yeah, wondered about account receivables as well. I prefer to not jump to conclusions and wait to hear from the company. As for Crossley a doctor so go soft, no, she's been running lots of companies as CEO, but does seem to like scams.
In terms of needing cash, let's see, you may be correct on ACs not wrapping up as collected as was conveyed.
And well, hey, 200k is a nice bundle. You get in in pennies?
There was a huge block buyer recently as reason for the recent market maker take down to the mid 0.20s that popped back to $0.30s usd right after. But stock price back there now.
.
toastturtle
7 months ago
The timing of Reliq getting to where it is now has been disappointing and I doubt anyone would disagree with that. There was a big disconnect between seeing patients being on the system to being compliant that no one really saw. With the substantial AR they have been banking, they should have been profitable long before now but as a shareholder, none of us understood the terms that allowed AR to get over 20 Million and had it been payable things would have resulted in very different results. Not that they don't still have a lot of work to do on getting the patients on the system adherent so that they can be billed. A big part of the breakdown was trusting clinics to manage the patients but the company has addressed that. With all of the positive changes that we have heard about, I have no idea how to quantify their upcoming financial reports. All I can do is look at the potential as they realize the contracts and get people more and more adherent so that they can collect on the billings.
I still expect some low numbers in October with significant improvement in November. What that will look like in Q3 in May is what I am focused on now. Assuming the company can get adherence close to the 70% at year end, we will see a much larger AR for that period as at this time the company should be well over 200k people on the system and at $50 a person that should be 7 million a month billable. Considering they should have had 200k on by July, I hope my number is low. Company came clean on their issues and challenges in January so 10 months ago was a completely different picture. I still believe this gets to 1B market cap and gets bought out but the timeframe has been pushed 18 months to 2 years out while they address the challenges. Still likely a 10x for those who can wait.
All this said, the last two news releases were huge and show that the faith in the company was not poorly placed. Time will tell of course but for Maxim, I assume they, like myself have realized that the delay between operations and billing is basically 6 to 9 month minimum lag so they built themselves a buffer. As I see it, although most of the big stuff is done by an automatic upload, training the people takes some extra time. They all know it works but habits need to be made for Reliq to bill for it and habits take 6-8 weeks usually. So figure a month or two of not using devices properly. Then a month or two of automated daily reminders and some phone conversations until the average patient can be billed. Then add three months. Best case we are 6 month behind on billing from first contact. I assume 9 months and I think Maxim would have to as well.
StockItOut
7 months ago
Maybe, and also 10 months ago you stated, "This is shaping up for a massive rally through now to 2024," yet we've seen a trading range, and just recently the market makers took this way down to $0.27s for some big time big block purchaser (a positive signal). There's something odd about this stock. There's the lawsuit, and Crosely was CEO back then when we shareholders expected all the customers' patients onboarding and big revenue increases that did not materialize as projected.
I agree though that Reliq Health is growing, and increasing revenues fast. Wonder why the Maxim target is so low?
toastturtle
1 year ago
The rear view mirror.
As we all know, the value of any company is supposed to be the present value of all cash returnable to shareholders in the future. Some here and on the other board intimate or outrightly state that value can be determined by driving while looking in the rear view mirror; that is to say, that past results are the primary indicator of value.
IMHO, where a company has sufficient size, momentum and history, past results can be a very important indicator of future potential. For example, if you look at the biggest six Canadian banks, they've been doubling their dividends on average about every 10 years for the past two decades. Combine that with payout ratios of generally just less than 50% and a somewhat oligopolistic position, and that gives you a pretty good idea of what to expect in the future. Another example might be Canadian Tire (CTC.A), which has doubled its dividend on average about every 5 years over the last decade and a half, with a more modest payout ratio. And yet another example might be goeasy (GSY), whose dividend is over 10x what it was a decade ago, with a slightly lower payout ratio than Canadian Tire. Of course, there's lots more data available but, with the types of companies I've mentioned, you can learn a great deal - and project a great deal - by looking at some key historical information.
Having said that, you must always look to the future, even with those companies. For example, what effect will the transition to electric vehicles have on Canadian Tire over the long term. Some might think the effect will be minor, but that's the sort of thing that's worth considering.
Now, on to the small companies. Even for them, historical information is not unimportant. You might be able to garner insights into revenue growth, margins, expense control, receivables, cash needs, etc. That much is obvious, but these companies don't have enough history of operating at scale to be able to use historical information by itself to estimate future cash flow. Of greater importance is how quickly they might reach scale, what size that scale might be and what the financials might look like when they get there. Everyone gets to judge that for themselves, but to use historical data alone to value small companies or to compare them with large ones is IMHO not thinking clearly.
For Reliq, as we know, revenue - as constrained as it has been - is still growing strongly. Some would suggest that's all the company will get because that's all they've done historically. Guess again. Gross margin has increased from 4% in 2019, to 15% in 2020, to 59% in 2021, to 62% now. Some would tell you that the company's gross margin has topped out. I don't think so. Expenses have been well controlled. Pretty hard to be negative about that. Profitability is close. The company has showed intelligence in fundraising. There've been issues around adherence and collections. Some will say that the company will never work those issues out. Time will tell on that front, but IMHO this is all part of working out the kinks, and past information on that front tells you very little about what will happen in the future.
Until we can see some data showing progress toward resolution of the issues, there should be and probably will be a material credibility discount applied to the company's valuation. As pointed out by an astute poster over on ceo.ca, that big 16 March 2023 announcement (as well as a lots of other ones) are being "banked" by investors pending adherence and collections progress. That's a whole lot of pent up value that will hopefully get released in the near term. None of that is available by driving while looking in the rear view mirror.
My point isn't to suggest that the company is a wonderful risk free investment. My point is to suggest that people who tell you to judge small companies primarily through the lens of historical information aren't really giving you good advice.
Post credit to Invester22 on Stockhouse. Well said and worth sharing. $RQHTF
toastturtle
1 year ago
Lisa Crossley, Reliq Health Technologies CEO is buying again at market picking up 58,300 more shares. This brings her total to 3,215,443 total shares.
As legendary investor Peter Lynch once said: “Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.”
And those insiders know more about their business, its recent operational trends, and its long-term prospects than anyone else in the world. So, if they think their stock price is going to rise, that is super-bullish for the stock.
Next financial report out in less than 2 weeks.
toastturtle
1 year ago
$RQHTF Reliq Health Technologies, Inc. Announces 34 New Acute and Long-Term Care Hospital Clients and Upcoming Shareholder Update Webinar
HAMILTON, Ontario, Jan. 06, 2023 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a rapidly growing global healthcare technology company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, is pleased to announce that it has added 34 new acute and long-term care hospital clients to a previously disclosed contract with a large healthcare network in Florida. These new clients are expected to add over 20,000 patients per year to Reliq’s iUGO Care platform at an average revenue of $65 per patient per month. The Company also wishes to invite shareholders to attend a webinar on Wednesday, January 11, 2023 at 9:00am PST / 12:00pm EST, where the Company will provide an update on operations and discuss the outlook for 2023.
“The biggest risk to profit margins for acute and long term care hospitals is the potential for patient readmissions within the first 30 days after discharge,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “The Centers for Medicare & Medicaid Services (CMS) assess financial penalties to hospitals under the Hospital Readmissions Reduction Program (HRRP) based on rates of readmission. In 2021, 96% of all hospitals in Florida received a financial penalty due to readmission rates (www.cms.gov). We have consistently demonstrated that patients who are monitored using our iUGO Care platform have better health outcomes and lower rates of hospital admissions and readmissions, which can significantly reduce or eliminate HRRP penalties for our clients. We are excited to be working with these hospitals which specialize in cardiac and orthopedic patients to help improve post-discharge outcomes for patients who have experienced cardiac events (acute myocardial infarction, heart failure), cardiac surgery (“bypass”) or orthopedic surgery (hip or knee replacement). We expect to add approximately 1,700 patients per month to our platform from these clients, or over 20,000 patients per year with revenues of $65 per patient per month at 75% gross margin.”
“We are also pleased to invite shareholders to attend a webinar on Wednesday, January 11th to discuss the outlook for 2023 and provide a detailed update on operations,” continued Dr. Crossley. “Log-in details for the webinar are provided below.”
Webinar Login Information:
Date: January 11, 2023
Time: 9:00am PST / 12:00pm EST
URL: www.reliqhealth.com/webinar
For those who are not able to attend the webinar, a recording will be available on the Company’s website (www.reliqhealth.com) shortly after the webinar concludes.
toastturtle
1 year ago
CEO Lisa Crossley purchased another 52,500 shares in the market today, January 3, 2023. This purchase brings her total spent buying at market over $80k. I know $RQHTF has been slow to show the sales expected but considering there is only one reason a CEO buys a company with after tax income, this has to be a buy. CEO now owns 3,157,143 Shares.
toastturtle
1 year ago
$RQHTF Reliq Health Technologies CEO keeps buying stock...
Lisa Crossley again purchased shares in the market. She currently is holding over 3M shares and a substantial amount has been purchased using after tax dollars which is pretty rare as most acquire their shares from options or share grants. The last purchases made are as follows:
All purchases in Canadian funds.
22-12-14 - 33,900 @0.51
22-12-09 - 43,900 @0.48
22-09-22 - 16,500 @0.51
22-09-22 - 84,500 @0.52
22-09-22 - 170 @0.53
22-08-25 - 49,000 @0.52
22-08-13 - 45,000 @0.55
All at market.
This company is going to go higher. There is only one reason a CEO buys stock in their company. They know it is going higher.
toastturtle
1 year ago
$RQHTF
HAMILTON, Ontario, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a rapidly growing global healthcare technology company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, today announced that it has signed a contract with a network of 15 Skilled Nursing Facilities (SNFs) in California. This contract is expected to add a further 1,000 new patients per month or 12,000 new patients per year to Reliq’s iUGO Care platform beginning in 2023.
“We are very pleased to be expanding into the Skilled Nursing Facility market in California,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “Reliq will be providing our iUGO Care Transitional Care Management (TCM), Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) solutions to help improve post-discharge health outcomes and reduce readmissions, while also generating new revenue streams for the facilities. The Company will provide TCM to newly discharged patients at a rate of $60 per patient, with recurring revenue from RPM, CCM and BHI of $65/patient per month, at 75% gross margin. We will begin onboarding patients with these facilities in early 2023. Once all 15 facilities are live we expect to onboard over 1,000 of their newly discharged patients every month. The Skilled Nursing space is currently one of our fastest growing market segments and we are excited to help SNFs provide new healthcare services to their patients to drive better outcomes.”
Reliq Health Technologies is a rapidly growing global healthcare technology company that specializes in developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market. Reliq’s powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the Frankfurt Stock Exchange under the WKN: A2AJTB.
toastturtle
1 year ago
$RQHTF Released their Audited Year End Financials this morning and the info showed significant progress towards becoming a 1B market cap company in the near future. Being a Canadian Company their year end is at the end of June. This means they will report their 1st Quarter results at the end of November (60 days after for quarterly and 120 Days for Year end.) Due to this timing there is going to be a major catalyst in less than a month. The company is projected to double their sales between July 1st and January 1st so this upcoming report should show a significant increase in revenues again.
Highlights from FY 2022 Annual Audited Financial Statements.
Increased sales 485% to $8,551,807 for FY 2022 relative to $1,462,165 for FY 2021.
Increased revenue from software and services by over 1,940% to $2,739,516 for FY 2022 (FY 2021 - $134,264). Going forward the Company expects the majority of its revenue in 2023 and beyond to come from higher margin software and services vs device sales.
Increased gross profits over 515% to $5,301,304 for FY 2022 (FY 2021 - $857,954). Gross Margin for the year was 62%. The gross margin was affected by a temporary increase in device costs in Q3 and Q4 FY 2022 which has subsequently been resolved as the Company identified new device suppliers. Gross margins are expected to reach the target 75% in 2023 due to reduced device costs and an increase in the percentage of the Company’s total revenues from higher margin software and services vs device sales.
On January 1, 2022 CMS introduced five new billing codes for Remote Therapeutic Monitoring (RTM), allowing clinicians to provide ongoing in-home treatment and monitoring for patients with musculoskeletal and respiratory conditions. RTM involves having patients use medical devices that collect non-physiological data such as therapy/medication adherence and therapy/medication response, and also allows for patient self-reporting of key metrics such as pain level, mobility, nighttime waking due to breathing difficulties, etc. The new RTM codes have increased Reliq’s target patient population by over 20 million newly eligible patients to over 57 Million total eligible patients in the US alone.
Signed an agreement with Data Soft Logic (DSL) to provide iUGO Care to DSL’s existing and new clients. Data Soft Logic currently has over 600 home health and hospice care agency clients who work with more than 1,000 primary care physicians to provide care to over 500,000 Medicare and Medicaid patients. Reliq started onboarding DSL’s patients in Q2 Calendar Year 2022 and expects to ramp up to adding over 50,000 new patients per year each year beginning in 2023, at an estimated revenue of $60 per patient per month.
Signed an agreement with Cognizant to leverage Cognizant’s Care Management resources for future deployments of Reliq’s iUGO Care software to large scale clients. Cognizant provides services to 300+ health systems and over 347,000 care providers who together provide care to over 200 million lives globally. The agreement with Cognizant will allow Reliq to scale to new levels and provide even the largest healthcare organizations with confidence that the Company can meet the needs of their patient populations, no matter the size, allowing Reliq to access new opportunities to provide virtual care to much larger patient populations both within the US and globally.
Signed a contract with a large physician practice network in Florida to onboard over 50,000 patients to its iUGO Care platform by the end of 2023.
Signed a contract with a network of 40 Skilled Nursing Facilities (SNFs) in Florida which is expected to add over 48,000 patients to its iUGO Care platform every year beginning in 2023.
Signed contracts with 99 new US primary care physician practices and 28 other healthcare organizations in specialties including hospice care, nephrology, orthopedics, long term care, skilled nursing, hospital care, cardiology and care management.
Signed contracts with 25 new home health agencies in the US and 3 adult medical day care facilities.
Signed an agreement with a US Contract Research Organization to use Reliq’s iUGO Care software and Patient Engagement services to support their oncology and other clinical trials.
If this is the first you are seeing on Reliq Health you want to look at this now. This has the potential to be a 10 bagger or more in the next 12 months and realistically will be bought out by a larger company in a year or two.
toastturtle
2 years ago
$RQHTF agreement with Congizant is Huge.
Congizant is 185 on the Fortune 500 list and boasts and impressive list of assets that bodes extremely well for Reliq Health as they move forward into their rapid growth phase. Cognizant provides Reliq a path to provide their IUGO health monitoring service to large scale providers without impacting their current operations of uploading 5000 patients on to the service monthly. One of the big challenges with adding patient is hiring care managers to facilitate the integration and to work with the clients and patients and currently it has been the limiting factor keeping the company fixed to the growth projections they have publicly released including having 100k subscribers on the service by end of 2022. Cognizant changes all of this... Realize, Cognizant does not make this deal without months and months of internal due diligence. If Cognizant believes... well... you know the rest.
Cognizant has the immediate ability to provide management, web services and uploading services and at a cost cheaper than Reliq can currently provide. Cognizant can, without up front cost, put 30k -100k people on the system in a month utilizing existing staff and infrastructure within their existing systems. At a cost cheaper than Reliq providing room to net profitability without impacting the bottom line of Reliq. In addition to an assumed finders fee for clients brought in through their vast pool of clients and patients this is an easy win win for both companies. Cognizant currently provides services to 300+ health systems, 347000+ care providers and 200m people globally. This is good for them both.
Reliq provides chronic health monitoring to patients primarily in the US through Medicare and Medicaid funding. A patient that need home monitoring will be put on the service by they doctors at no cost to the patient. The average clinical practice can generate new revenue of over $372 USD per patient per month in payments from CMS by deploying iUGO Care. Hospital admissions are reduced by over 90% in chronic disease patients using iUGO Care, and the average cost to the healthcare system is reduced by over 80%. In addition current gross margins are over 75% and are expected to increase. EBITDA margins are greater than 45%.
Currently the company has 40k clients on the subscription service and over 500,000 in queue to go on the system. At their very manageable pace of adding 5,000 people to the system a month, by the end of 2022 they will have 100k people on the service with a monthly revenue of $5 million. This is without any additional assistance from their agreement with Cognizant. The company has mentioned they have been working on some huge contracts with millions of patients of which there would be some significant uploads of patients as part of the agreements and for those who haven't been paying attention, this is what Cognizant brings to the table. The ability to immediately and effectively deliver on these contracts.
If you have gotten this far, I hope you will take some time to do an objective deep dive into this company and the potential for the investment. I expect them to absolutely crush their projections now that they have this agreement in place and now that I have an understanding of the arrangement I am even more convinced that this will be a massive win as a long term investment. With the key milestones expected this year including uplisting to NASDAQ in the second half of 2022 I strongly believe this could be 10x for those who buy and hold for a buy out or an easy 5x for those who just hold for the uplisting.
Good luck and do you DD. This is my biggest personal holding with a little over 100k shares.
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1hot toddy
2 years ago
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