Good afternoon, everybody. We'll be starting in just about a minute, just to allow additional folks to join the call. Everyone, it's 12:01 P.M. I'm gonna go ahead now and begin our Q2 and first half of 2022 earnings call. Good afternoon, and welcome to our earnings call. I'm Robert Kaul, the founder and CEO of Cloud DX. With me also on the call today is Simon Selkrig, our CFO. I just would like to remind everyone that certain comments made or answers to questions that may occur during this call are subject to this disclaimer with regards to forward-looking statements. This disclaimer is also located on our investor presentation, on our website, and in our MD&A as filed on SEDAR. Just please be aware of that. The agenda for our call today. We have a technical failure. The agenda for our call today is going to be to go through these numbers, and, we just need to reload the deck so that the numbers come up clearly. One second please. Andrew, can you please stop sharing? I'll share my version of the deck. I found out why that happens, if anybody's really curious about how Acrobat works. When you transmit a large PDF file, sometimes it forgets all the fonts, and you have to just go through and remind it. Just takes a minute. Hopefully my version hasn't done that. It has not. Here we go. Yes, today we're gonna talk about the, first of all, the Q2 numbers, and then the first half numbers, and then we're gonna discuss some very exciting updates and some very exciting information to, all of our investors. Just jumping into the second quarter of 2022. As noted in our financial statements posted on Friday night, overall revenue during the second quarter was a slight decrease from 2021 due to a larger decrease in our subscription revenue line. That in fact was reduced due to the impact of the pandemic during the wintertime. During the wintertime, so from sort of December to March, April, if we all remember, first the Delta and then the Omicron waves of COVID hit. Hospitals were again completely packed with COVID patients. What that meant for us is that our clients in the hospitals put their RPM programs on pause. Patients, you know, have a natural attrition rate, so our subscription revenue flatlined and then sort of paused during that period. That has impacted our Q2 financials. However, deferred revenue for Q2 is up. This is revenue we haven't recognized yet, 264%. What this is based on is purchases of Connected Health kits and the new contracts that have been announced throughout the year so far. In fact, the revenue picture is a little more complicated than just the top line. Together with deferred revenue and recognized revenue, the total revenue in Q2 is actually an increase over 2021. Meanwhile, operating expenses are down 14%. This has two causes. The biggest cause is that there were some one-time costs for the qualifying transaction that took Cloud DX public on the TSX Venture Exchange last year. Those costs were not, of course, part of this year. But also our operational efficiencies are improving. Overall, our net loss has decreased tremendously. A lower than 55% improvement in net loss, which really is reflecting both those one-time costs no longer being on our income statement and also, of course, you know, the whole company is becoming a little more efficient. That's a very, very strong positive number. That's the kind of number we wanna see as the company gets closer and closer to the break-even point and cash flow positive in the future quarters. Okay, moving on to the first half of the year. Over the first half of the year, we see a slightly lower impact on top-line revenues of that pause in subscription revenues during the course of the wintertime. We see a 461% increase in deferred revenue. Of course, this is revenue that's not recognized yet. That means that if you add the top-line revenue and the deferred revenue together, which is not an IFRS number obviously, but it's just something we can do on the financial statements. We see an overall increase versus the same period last year of 12%. On an annualized basis, that means that our revenues versus last year are approaching double so far and so that's a great place for the company to be. It's a great trajectory and I think that the impact of all the contracts signed between January 1st and today, year to date, is of course still to play out in the next two quarters. Operating expenses over the first half of the year were down just under 10%. Again, reflecting both a lack of one-time costs around the qualifying transaction and some operational efficiencies. Still showing a much lower net loss for the whole year so far, to June 30th, 30% lower than last year. Again, this is really just now the actual operating cost of the company being reflected, without those one-time costs being in the numbers. To give a couple of more comments to the financial statements, this is actually going back to the press release that's just coming out, this morning. We see that our gross margins over the course of the first half of the year versus the period last year are lower. The gross margin recorded is-- The gross profit margin for the half is 44%, 44.6% versus 73%. Just to explain the differences here in these numbers, I've already spoken to why overall revenue is slightly down, impacted by the changes in subscription revenue brought on by the Delta and Omicron waves. These numbers are already correcting themselves for the remainder of 2022, so we're seeing that happen. When it comes to cost of sales, which impacts gross profit margin, just to remind everybody, Cloud DX has three different revenue streams, if you will. Our product revenue is the Connected Health Kits that we sell our clients, the kits that the patients use in their homes. The margins we get on those kits vary depending on the makeup of the kit, but in many cases, they're in the neighborhood of 20%. When we see a large amount of product revenue a quarter, because the margins on the hardware are lower, obviously that impacts the total gross margin. The margins on our professional services, which is customizations, this is integrations, these are things that we charge our customer for on the software side, those margins reflect, of course, that they're software margins. This is, again, closer to 60% margins. Then subscription revenue is SaaS revenue. This is recurring revenue per patient per month. It has the highest margin. For us, this is up to 90% margins. The mix of revenue every quarter really impacts the margins that we report for that quarter. Of course, for the first half of 2022, we've seen quite an uptick in product revenue. Those products, those kits that we're shipping are deployed, the subscriptions come on stream in the downstream quarters, and we'll see the gross margins change as that impacts the revenue coming up. That's a little bit on the whole question of margins. With regards to cash flow and funding, over the course of the second quarter, we press released a private placement that raised CAD 1.58 million. The cash position of the company based on fundraising activities as well as increases in revenue is strong. Of course, you know, our long-term plans include not only the deployment of Connected Health kits, the enrollment of patients into Connected Health, but also additional products coming to market. We'll be able to talk more about that in the next couple of minutes and then in the coming quarters. All right. What we'd really like to share now is some comments on the news that was released on Friday regarding our partnership with Teladoc Health. Teladoc Health joins Medtronic as an exclusive partner of Cloud DX. As we all know, many of us know, Cloud DX is also partners with Medtronic with regards to Canadian deployments of Connected Health, and the first contract with Medtronic for St. Mary's General Hospital was actually signed during the first half of 2022. Now let's talk about Teladoc Health and how this partnership is going, is gonna impact Cloud DX a little bit. For those who don't know, Teladoc Health is the largest telemedicine company in the world. They're active in 175 countries around the world. They have over 5,000 employees, over $1 billion in annual revenue, and over $5 billion in market cap traded on the New York Stock Exchange. Teladoc Health has four main product lines, including, of course, their award-winning telemedicine service, which is sold to employers around the world in many places and is used by over 50 million people around the world to have telemedicine consults with primary care physicians and specialists. They also have their community diabetes programs through their subsidiary Livongo. Livongo delivers employer-based diabetes care management programs that include a customized glucose meter, coaching services, content services. Again, one of the most powerful community care programs for diabetes in the world. Teladoc Health also has the Solo application, and this is something that impacts Cloud DX. Solo is their telemedicine module, so it is the technology or the software application through which doctors and patients communicate on Teladoc, so like this, like a two-way Zoom call, but it also does other things. It manages scheduling for those calls. It also helps physicians, especially in the United States, with a lot of business analytics and metrics to make sure that they can bill for their telemedicine visits correctly. Solo is a quickly growing and superior version of a telemedicine consult application that is gaining traction all over the world, but especially in North America. Teladoc also has some tremendous mental health services that have really ramped up during the pandemic as well. The partnership we have with Cloud DX and Teladoc Health includes the integration of these modules into our Connected Health platform. We will be adding the Solo module to Connected Health. We will be adding some versions of the diabetes program as it becomes Health Canada licensed for deployment in Canada. Immediately we're adding the Solo application and also Teladoc mental health services as an option for our clients in Canada. We're also addressing the market in the United States. Further into our agreement with Teladoc Health, the plan is to integrate Cloud DX technologies into Teladoc, including our upcoming hardware like our Pulsew ave 2 blood pressure and respiration monitor, our wearable Vitaliti device for continuous vital sign monitoring, and potentially even our AcuScreen cough analysis software. That is a phase II part of our agreement with Teladoc. Those integrations will take time. For those devices I just mentioned and those products I just mentioned, they're not yet approved by regulators. That process is ongoing. As those products come to market, as they become approved, then the goal with Teladoc Health is to further integrate the companies and to take those products to market together around the world. We couldn't be more excited about this opportunity and this collaboration with Teladoc Health. What we bring to the table to Teladoc is of course our award-winning acute care and complex chronic care remote patient monitoring programs, and we'll talk about that in just a minute. Let's touch on additional accomplishments in the first half of 2022. To be clear, with this announcement now, we have announced 20 contracts or contract extensions so far in 2022. That is a 158% increase over the 12 contracts we announced in 2021. Obviously we're on track. It's only the first half of the year. We're on track for a much higher percentage increase in contracts signed for all of 2022 as the next two quarters come along. We now have released surveys or published papers regarding patient satisfaction that shows extremely high patient satisfaction numbers. In a recently published paper, which I'll touch on in just a second, those numbers were 89%. In two other studies, they were 96% and 97%. Patient satisfaction is an extremely important differentiator for Cloud DX. It means that our patients love using our system, but that also means they're compliant with their care instructions. That's a requirement for reimbursement for our United States customers. U.S. clients are very reassured when they see patient satisfaction numbers, excuse me, in the high 90s. Ooh, talking too fast. We also announced just recently a new peer review paper published in the very prestigious Journal of Medical Internet Research. We're pleased to say that we successfully completed one of the first and very, very complex Health Canada medical device audit inspections and audits. This inspection took five full days. It will be required for all medical device companies in Canada in 2023 and onward. It raises the level of Health Canada oversight on medical devices to the equivalent of Health Canada oversight for pharmaceuticals, and that's a very, very high bar to pass, which we have now done as one of the very first companies to go through that audit in Canada. We also announced the granting of our seventh U.S. patent and our first Canadian patent, so a total of eight granted patents to date so far. It's been an extraordinary year, and of course, we're only halfway through. To remind everyone, you know, there's three big reasons why Cloud DX is different. The first, of course, are these partnerships. We now have nine signed partnership agreements. The two largest, of course, are Medtronic and Teladoc Health, the two largest companies in their category, two of the largest medical technology companies in the whole world. Frankly, they could have chosen any partner to partner with. Both of them chose Cloud DX, because of the reasons I'm about to articulate. We have, as I mentioned, signed, 20 contracts so far this year or contract extensions, and that number is on track to be a tremendous year for us. Already we've been awarded 17 awards for innovation. Very high patient satisfaction scores. That innovation, of course, also drives business. It means we're future-proof. It means that our customers and our clients are reassured that Cloud DX technology is ahead of the curve. They are most likely going to be both leading themselves as technology innovators and also unlikely to need to replace our technology in the future because we're the ones bringing the innovations. Now, with the addition of Teladoc Health and Solo, our virtual care platform becomes even more powerful. As we all know, as I think we've mentioned many times, the virtual care platform at Cloud DX, we call it Virtual Care as- a- Service, includes the Connected Health Kit, which is the devices that are used by the patients in their homes, a bespoke tablet, our own mobile app on the tablet. The app is also available for download in the app stores. A curated group of devices that includes blood pressure cuffs, pulse oximeters, thermometers, weight scales, and, in some markets, not every market. Primarily in the United States, a connected glucose meter as well. A clinician portal is where doctors and nurses and medical technicians monitor up to hundreds of patients per person, per clinician, and this is what drives efficiency. This is the whole purpose of remote patient monitoring as an efficient means of delivering care. Our services and integrations are also a big part of our offering. Client training and onboarding, virtual patient enrollment, meaning that we can drop ship the kit to the patient's home, even some of the oldest people, in the cohort, people who are in their eighties, people who are literally in their nineties. We are experts at onboarding those folks literally over the phone. We give them complete patient support and compliance support. That's a big differentiator for Cloud DX. As mentioned, under our new agreement with Teladoc Health, we're integrating both the Solo telemedicine module, elements of the diabetes program, and elements of the mental health program into Cloud DX for market immediately. The value propositions we're talking about for patients and doctors here boil down to three, of course, three major areas. For patients, Connected Health is more convenient. Connected Health means you're likely to go home from the hospital sooner. It means that you may avoid medication errors, and we've published peer-reviewed studies on that subject. For providers, it's an efficient way to deliver care. If you move patients out of the hospital sooner, it frees up bed space. This attacks the enormous problems across North America, but especially in Canada, with regards to maxed out emergency rooms, patients piled up in hallways, and a multi-million patient surgical and procedure backlog across North America due to all the cancellations and postponements from the COVID-19 pandemic. For payers, in the Canadian context, payers is the provinces, we are talking about a massive ROI. Every day that is on average that a patient goes home early saves the system CAD 1,500 per patient. Multiply that across the tens of millions of patients in Canada every year, and it's a substantial number. With the U.S. providers, this is a profit motive. In the United States, of course, providers are fully reimbursed to deploy Cloud DX for many different use cases now, and that reimbursement is new money, it's fresh dollars for those U.S. clients. What we're seeing is a steady growth in the number of patients across North America expected to be using Connected Health and RPM, or remote patient monitoring, over the coming years. This study was published last year, and it shows a steady growth from, you know, the very beginning of the pandemic, only 29 million users across the geography, to potentially as many as 70 million in 2025. This is the pattern that we're expecting to see at Cloud DX as well. As we've spoken many times, Cloud DX is a leader in Canada in remote patient monitoring. We go to market through our hospital partners across the country. We're also a verified vendor for Canada Health Infoway and OntarioMD, which means Cloud DX is prepared to meet every provincial RFP and competitive tender. We're the only company that has two provincial or territorial contracts so far. We also are contracted across Ontario with municipal governments for paramedic medicine, where paramedic services in Ontario are delivering connected health in order to help patients who are on a long waiting list for long-term care. This program, Community Care for Long-Term Care Patients, is funded by CAD 80 million in Ontario, and Cloud DX has five paramedic contracts as of June thirtieth, 2022. Of course, we've already spoken many times of our partnerships, but these are partnerships that have global implications. Medtronic is, of course, the largest company of its kind in the world, and so is Teladoc. Our partnerships with both of these companies include the future of outside of North America, deploying Cloud DX integrated into their platforms for delivery of virtual care. Those growth numbers are expected to be substantial. Our U.S. growth in 2022 so far has been focused on clinics. We now have three large clinic contracts in the United States. This is a large growth area for us. Clinics are a complicated place to deploy Connected Health. First, you have to train the clinicians, you have to work on their workflows, then you have to enroll the patients and service the patients, and the patients must remain compliant. If patient compliance slips, then so does reimbursement. We call our program that optimizes the enrollment of patients in U.S. clinics Patient-First. It means that Cloud DX works hand in hand with the clinical team in order to make sure the right patients are on the program to access additional patients and to grow that patient base. Through Patient-First contracts we have in place to access chronic disease management patients in the U.S., we have access to over 1 million patients that we can match with clinicians across America. That program continues to grow. Now we see the growth numbers of patients available. Patients available is a metric that means these are patients we can access under contracts that we have in place. This is where the growth comes from. Prior to our Medtronic agreement in December of last year, through Patient-First, we had access to about 1 million U.S. patients. In Canada, Medtronic addresses 1 million patients every year. The Medtronic agreement gave us access to an additional 1 million patients for a total of 2 million. Teladoc Canada also impacts nearly 1 million patients and the growth in Teladoc is actually even higher than that. We're now projecting access to another 1 million patients through the Teladoc agreement at least. These are projections. This is a forward-looking statement. This is simply the pool of patients that we have access to that we're now growing into. To remind everyone, Cloud DX needs to be deployed to approximately 10-12,000 patients in order to be breaking even as a company. As our patient enrollment numbers grow, we get closer and closer to that particular metric, we get closer to profitability. At 100,000 patients, which is obviously a very forward-looking statement, but in that range, Cloud DX is about a CAD 80 million-CAD 90 million a year business. Obviously, the partnerships we've put into place are the pathway to that growth. To wrap up now, Cloud DX, of course, has been recognized many times for innovation. I'll just point out that many of these awards, not all of them, but many of them, come with non-dilutive dollars we use to forward our R&D and to commercialize our new technologies. In particular, in the last six months, we've seen work done under our XPRIZE grant, which, alongside of the University of California San Diego, has been clinically validating our AcuScreen cough analysis technology in Africa. We also have received hundreds of thousands dollars from NSERC, which is a national program in Canada, to forward our Cloud XR technology, our patented augmented reality user interfaces for clinicians. That program has also been funded with non-dilutive dollras. All of this is very much to the benefit of investors, because these non-dilutive dollars do not impact the number of shares outstanding, which has not changed. The fundraising we've done in the last six months to June 30 has been in the form of convertible debt, which has not converted yet. From the qualifying transaction last year, the issued and outstanding shares have not changed. We're still at 72 million issued and outstanding shares. Fully diluted, we're now sitting at about 90 million, and of that, approximately 34% is owned by insiders. As mentioned in a press release, in early 2022, all of us insiders have voluntarily escrowed our RTO shares until at least the end of October, if not further. Of course, if you go on SEDI, you'll notice there's never been a single share that I know of sold by an insider. Insider buying, on the other hand, has been substantial, and that is a signal, of course, about confidence in our future. To wrap up from the point of view of differentiators and why Cloud DX is growing so quickly and why Teladoc Health and Medtronic both chose Cloud DX to be their partners. First differentiator, of course, is innovation. We are by far, I think, the most innovative company in our space right now. We have new products coming to market that are different than any other product of their kind, patented, new technologies. We have the awards and the research funding and the non-dilutive cash to prove that. Patient satisfaction is extremely important. These patient satisfaction surveys and published peer-reviewed papers on patient satisfaction both make it means that our technologies are gonna be well-received by patients. It means they're gonna use them. It means they're gonna get the care they need, and that means that our customers are gonna get the outcomes that their investment in Connected Health is designed to create. I've mentioned before, this is required for reimbursement in the United States, so this is a very strong differentiator in our American business development activities. Then finally, I mean, how many times can we say it? We're the chosen partner of the largest technology companies in the world working with us to bring our connected health innovations to market. As these partnerships mature, it's only gonna get more exciting. That is the end of my presentation so far. Now what I'm gonna do is I'm gonna click on Q&A, and I'm gonna ask Andrew to open us up for questions. Andrew? Yep, we are open for questions here. Please feel free to put them into the Q&A section, and we should be able to get to your questions in queue. Here's an obvious question. When do we expect to get to cash flow neutral? It's a little hard to put a firm date on that only because so many of these contracts are so new. The reality is that, as I mentioned earlier, with every contract, there's really three phases. There's the signing of the contract, of course, then there's the onboarding of the client. That means training, workflows, in some cases, customizations and new features, and then the patient recruitment begins. On the current trajectory that we're on, I would say that within 18 months is a good guess, conservative guess. Again, very much a forward-looking statement. On the other hand, the impact of our Teladoc partnership and the impact on our. The next phases of our Medtronic partnership are something that are challenging to model, and I'll give you an example. Right now, in Canada, one of the U.S. vendors for remote patient monitoring is pulling out of the country. Now, this has nothing to do with the business in Canada. It's simply because of their corporate owner. It's a company called Vivify Health who is owned by Optum Health, which is part of the largest U.S. health insurance company. But they do not do business outside of the U.S., so they are pulling out of Canada. We're told that there are over 25,000 patients using Vivify across the country in various ways, and those patients will need a new vendor. This is not something we can guarantee will be Cloud DX every single time, but we have already replaced Vivify for some of our clients. We have an opportunity to do that across the country and also to begin doing that in the United States as well. That simple business line, replacing Vivify as it leaves the country at the end of 2022, would push us very strongly in the direction of being cash flow positive. That's just one example. If I was to be very conservative, I would say somewhere in the next four to six quarters, but I think that, you know, that's a very conservative estimate. Here's a good question. Is Amazon exiting telehealth? To my knowledge, Amazon is not exiting telehealth. Amazon is changing from an internal program that they started called Amazon Care to acquiring a large company that's already in that business. Rather than exiting the business, they are doing—they're doubling down on the business. Amazon is putting a large multi-billion-dollar bet on virtual care with that acquisition. When it comes to that patient available number that we projected earlier as a forward-looking statement, in the neighborhood of 2 million-3 million available patients, what percentage do we expect to get? That is a very much an open question. I think that I'll give you, again, another example. Our partner now, Teladoc Health, has their community diabetes program, which is called Livongo. Livongo was an acquisition that Teladoc Health made two years ago at a very, very high price, it turned out. Nevertheless, it's a very successful program. When Livongo was acquired by Teladoc Health, they had approximately 400,000 members. These are employees for whom Livongo is an employer-supplied benefit. Employers pay for that benefit for their employees. The last number I heard, and this is something that I'm anecdotally speaking to, I don't have this number in front of me, was on the order of 900,000 patients. That's, you know, just in a couple of years. I think that the reality is that the market penetration for Connected Health and RPM is still quite low. With the partnerships we already have in place, we are in a position to take a substantial share of the market, whether that's 2% or 5%, possibly even 10%, it's hard to say. But any one of those would be a very large revenue number for Cloud DX. Interesting point mentioned here, the upcoming provincial tenders and RFPs. What we're seeing now at the end of year two, beginning of year three of the COVID-19 pandemic, first of all, we're seeing that the pandemic is still with us, obviously. That's not something we talk about as much anymore, but the reality is that COVID-19 waves are still coming. In the meantime, the value proposition for virtual care has been well proven by the impact of virtual care during the pandemic. What we're seeing in Canada especially is we're seeing that all the large provinces intend to do a new RFP for more integrated virtual care in the next 12 months. As you know, Cloud DX is already the vendor of record for two provinces and territories. Our Western Canadian province contract comes up for a re-up in September of 2022, but also British Columbia is doing an RFP and Ontario is doing an RFP, as are some of the Atlantic provinces. In Canada, in the next 12 months, we're going to see some large RPM contracts awarded. Cloud DX comes to those RFPs, not only as the market leader in our own right, but also now as an integrated partner with two other market leaders, being Teladoc Health and Medtronic, we have a strong position. Here's a question. Will Teladoc offer Cloud DX software and equipment all over the world? I will point out that our agreement with Teladoc Health includes two phases. The first phase addresses the Canadian market, and that's what was press released on Friday. In that phase, we intend to integrate the Solo platform, diabetes services once they're Health Canada approved, and also Teladoc mental health services into Cloud DX Connected Health for sale and deployment across Canada. The second phase of the project, which includes integration of new Cloud DX technologies, is designed to be integrated as those technologies are approved. Our Pulsewave 2.0 monitor is in the final stages of clinical approval and validation now. Our Vitaliti wearable monitor is moving into calibration and validation studies in the first quarter of 2023. Our cough analysis software is in the middle of its prospective studies. These are pipeline technologies. These are technologies that are coming to market in the next few quarters. A big reason I think why Teladoc Health chose to partner with Cloud DX is because these new technologies are right on the horizon, and together, we really will be the leader in this technology around the world. Okay. Question about U.S. revenue growth. Well, I think with U.S. revenue growth, of course, it is a focus for Cloud DX. Our two largest partners, Teladoc and Medtronic, are both giants in their industries in the United States. Our partnerships together with those companies open every possible door and our own business development activities are very focused on Cloud DX deployments in primary care clinics that receive full reimbursement. One of the first of those clinics that has really taken off is in Massachusetts, and we see that clinic onboarding between eight and 10 patients a week. That's the pace of onboarding now that we're starting to see through our Patient-First programs. If you extrapolate 10 Eight to 10 patients per week over 10, 12, 14, 16 clinics, which is a goal, that's a goal we have to sign up in the next two to four quarters, then we start to see those patient numbers increasing very rapidly. We earn CAD 75 or $58 per patient per month, typically in U.S. primary care RPM deployments. The math on those numbers builds up very quickly. Again, as I mentioned earlier, you know, first we sign the contracts, then we ship the kits and deploy the kits, then we see the recurring revenue begin to appear. The contracts are the leading number, and then, kits deployed is the second, number, and then patients onboard is the third number that we'll be tracking and reporting to investors over the next few quarters. I will touch on one more point, and that is the need for capital. As we've reported here, Cloud DX is seeing revenue and deferred revenue increasing across 2021. Obviously, we've been speaking about the journey between here and cash flow positive, which means we're not cash flow positive yet. In the context of that, Cloud DX may be seeking additional growth capital in the next two quarters. If we do, of course, we'll be, you know, announcing those, you know, private placements, you know, in a timely fashion. The opportunity to participate will be something we'll look forward to communicating with investors, if and when that occurs. In the meantime, the last point is that as this growth begins to really ramp up, I just want to reassure investors that Cloud DX has a strong control over our supply chain. Many companies around the world, throughout all of 2022 have had challenges with their supply chain. I'm happy to say with Cloud DX that, for the most part, our supply chain is actually onshore, it's not offshore, so we source the majority of the devices in our Connected Health Kits that we don't make ourselves. We source those from partners within North America, who have readily available inventories, and so we have no fears at this point of any kind of bottlenecks when it comes to devices or Connected Health kits. The real gating items when it comes to scaling up our deployments across North America essentially is in training staff. It's training the nurses, it's training the doctors, and training the clinicians, and onboarding the team, and then implementing our Patient-First program to ensure that the patients who need Cloud DX Connected Health have it at their disposal. Those items are something, of course, that we're very, very good at. This is a key differentiator for Cloud DX, but I do wanna reassure investors that supply chain issues are not, at this point, a bottleneck for deployment and growth. Okay. Again, just to summarize overall, the first half of 2022, for those of you who maybe joined a few minutes late, we're very pleased to say that our net loss has decreased by 55%. We've seen a 158% increase in contracts signed over all of 2021. Not comparing periods, but year to date, 2022 versus all of 2021, we're talking about 21 contracts so far. Sorry, rather 20 contracts so far announced versus 12 in 2021. That is, of course, the key number we wanna watch is those contracts signed, as each contract means patients onboarded, kits shipped in coming quarters. We're having a spectacular year. We've been chosen by the largest companies and most successful companies of their kind in the world as their best possible partner for acute care, post-surgical care, complex chronic disease, remote patient monitoring, and virtual care. These agreements and partnerships are going to take us into a whole new place in the next few weeks and months. I'm told there's some more questions here. Sorry, here we go. All right. This is a good question. An investor's asking with regards to overall the share price, and I think we need to realize and remember that all share prices across the board, frankly, for even giant companies like Amazon, are at their two-year lows or just coming off of their two-year lows. 2022 has been a tremendously challenging time to be a public company, all across our sector in healthcare IT and Canadian small and micro-cap public companies, share prices are at or just coming off of their 52-week lows, in some cases, their two year lows. All share markets have seen a tremendous, you know, downtick impacted by many things, by the war in Ukraine, by the ongoing pandemic, and now of course, the inflation across the globe, which has increased interest rates across the globe, and so on. I think all of us can recognize that public companies now are potentially at an inflection point, an opportunity that perhaps hasn't been seen for several years where you know the realities of the fundamentals of the business, the realities of the growth of the business are not reflected in the share price. The realities of the assets and intellectual property owned by the company are not reflected in the share price. Here's a perfect example of something like that. I think I spoke to this in our last update as well in Q1, 'cause this is an announcement that was made earlier in 2022. There's another company in the world called ResApp. It's an Australian company that has a cough analysis technology somewhat similar to Cloud DX. Remind everybody, Cloud DX licenses the patents for cough analysis in North America. We have the US patents under license, exclusive license, so we actually control the IP for cough analysis in Canada and the U.S. However, the Australian company, ResApp, has a similar technology in some ways, not identical, similar. ResApp announced earlier this year that they were being acquired by Pfizer for $75 million. All ResApp does is cough analysis, which is a small portion of the Cloud DX footprint, but ResApp is valued now at $75 million. Again, we have the patents in North America. We have the North American patents. It's very clear that the value of that asset is not necessarily reflected in our market cap at the moment. Regardless of what you think the value of that asset should be, it's obviously not there right now. As we bring these products to market, and I'll also point out, by the way, ResApp is not any further into the market than we are. Their revenues are actually on par with ours. It's, you know, again, many opportunities to come for growth. You can't predict the future, but I think that, as we continue to post improvements in our numbers, hopefully we'll see that reflected in our market cap, as we have in the last several days. Yeah, with regards to cash and cash flow, there's a couple of questions coming in on that subject, and I'll just speak to the fact that we have both increased overall revenue slightly, and been successful at our private placements. At this point, we have sufficient cash for operations. As we grow, we may seek further fundraising because, you know, again, we need to address both the growth in inventories and also all the other costs and services that go with much larger deployments. Again, this comes back to something I spoke of earlier with regards to, for example, replacing Vivify Health across Canada. That is, those opportunities are substantial, in fact, very large. That would require some additional investment, of course, and that could be an opportunity for investors coming up. Okay. We're now at 45 minutes past the hour, and if there are no more questions, then we may be ready to wrap up our earnings call for this quarter. I wanna thank the team at Cloud DX. I really wanna thank the team in operations, including our Chief Operating Officer, Anthony Kaul, and our Head of Operations, Cara MacDonald, who have done a spectacular job in business development and in particular in negotiating and executing on the partnership agreements we have with Teladoc and with Medtronic. I wanna thank our deployment teams and customer success teams who are absolutely instrumental in 96% and 97% patient satisfaction scores. This comes back to a combination of superior technology, but most importantly, the human element. The services provided by Cloud DX are provided by people who really, really care about what we do. They eat and sleep what we do, and they're incredibly dedicated. They work extremely hard, and our success is their success. I very much wanna thank, you know, across the board, logistics teams. I wanna thank our R&D team, who's doing a spectacular job delivering on our new technologies and new products. I wanna thank our finance team, which has grown by one new hire. You know, our finance team is also doing an excellent job maintaining operational efficiencies across the company. I wanna welcome our new Director of Sales, Rick Newman. Rick joins us with a long track record in selling industrial and software to corporate clients, but is extremely excited to be part of the Cloud DX mission to make healthcare better for everyone. Having a very talented Senior Director of Sales is only gonna mean quicker growth for Cloud DX and our investors. I wanna thank all of you for supporting us. Cloud DX now, you know, has become the preferred partner for the largest companies in our space in the world, and a lot of that is reflected in the continued support of our investors. On behalf of everybody at Cloud DX, thank you for all your support so far. We hope that you continue to support us and continue to see the returns and rewards from that. At that point, I think what we'll do now is wrap it up. I will mention, thank you for reminding me, Gary. I will mention that Cloud DX is presenting at the Emerging Growth Conference at 10:15 A.M. on Wednesday. I'll have a chance to present again regarding our Teladoc relationship, talk more about Medtronic, and present an extended version of this presentation I just gave you today. Please join us again on Wednesday if you wish, but also if there's somebody you know who's interested in Cloud DX, please remind them that the Emerging Growth Conference is coming up. There'll be a link on our website, and we're also posting those links in our press releases as they come out. We'll see that hopefully that press release announcement come out either later on today or tomorrow. With that. Oh, here's a question about how many investors we have. I don't know how many investors we have, but I do know that we have a very dedicated team of insiders and board members. I think that that's the last question we can answer today. Thanks again, everybody. I'm looking forward to answering questions offline, so if anybody has a question that did not get answered today or wants to learn more about or more context about what's happening with our relationships, please reach out, and I'll be happy to make one-on-one contact. With that, I'm gonna turn this off. We will make the recording for this meeting available on our website within 24- hours. Thank you, everybody. Have a great rest of the day. Goodbye.