Hello, everyone. Thanks for joining. We've got, Cloud DX Chief Executive Officer, Robert Kaul here. I'm just gonna give it a couple minutes to let a few more people join, and we'll be getting started shortly. Good morning/afternoon, everybody. Thank you for joining us. Thanks, Andrew, for introducing me. And, yeah, we'll give this another 60 to 120 seconds just to let folks join, and then we'll jump into Q2 and the first half of 2023. And we are recording this session, and in about an hour after, we're finished speaking today, we will post the recording on our Investor R elations page on clouddx.com. If you have questions, please use the Q&A section of the Zoom app that's on your screen, and we'll get to as many questions as we can during the course of the webinar. So again, if you have questions, please type them into the Q&A section. And, if I don't get to your question for whatever reason, just because we run out of time, please just email ceo@clouddx.com. Let's get started on time or just after time. My name is Robert Kaul, I'm the Founder and Chief Executive Officer of Cloud DX, and we're very pleased to hold our Q2 or first half of 2023 earnings call. I will remind everybody that there will be forward-looking statements you'll hear today. Please, take a look at this forward-looking statement disclaimer, which is on our website and in our investor presentation, for any details you want to read about forward-looking statements. Go ahead. Our agenda today is to, first of all, go over the financial results for the second quarter of 2023 and the first half of 2023. Then we'll talk a little bit about our accomplishments over the course of that time and some of the subsequent events that we've announced since June 30, 2023. The last point we'll make is just some investor conferences we're about to attend in the next few weeks. And then for those who are unfamiliar or would like a refresher, I will take us through a little bit of just a brief description of what exactly Cloud DX does and where we're at right now with regards to our growth, and then we'll take questions, time permitting. So let's move on to Q2. The second quarter of 2023 was a very good quarter for Cloud DX. We saw some very good growth across the majority of our products and service lines, and in particular, for subscription revenue. And so, as you see here, our subscriptions continue to climb. Subscriptions for Cloud DX means either Connected Health kits in the field that are generating revenue on a per-kit, per-month basis, or patients who are using Cloud DX Connected Health on a per-patient, per-month basis. We are in essence a SaaS company that has additional revenues from hardware and services, but SaaS is the cornerstone of our business model. If you look back on our previous financial statements, you'll notice that our SaaS revenues and our subscription revenues are climbing quarter after quarter after quarter. That's exactly what we want to see. It shows we have strong growth in our subscribed base and the number of patients enrolled in Cloud DX Connected Health. As we continue to add contracts and continue to add patients, those numbers will begin to really snowball. Product revenue in Q2 was flat. That just means, again, revenue from shipments of Connected Health kits. Our Canadian clients pay for Connected Health kits upfront. Our U.S. clients tend to amortize the cost of the Connected Health kits patients use into the monthly subscription, but Canadian clients pay upfront. So we shipped CAD 102,000 worth of kits in Q2, and that's roughly the same amount of kits we shipped in Q2 of 2022 as well. These numbers ebb and flow, so you'll see that that's the lumpy portion of our financial growth. Subscription revenue is climbing and climbing and climbing as more and more and more patients come on stream. But kits we ship in lumps and blocks, quarter after quarter, they tend to fluctuate a little bit. We did see some excellent growth in professional services revenue in Q2. Services revenue includes customizations and new features and integrations that we charge our customers for. Again, that revenue does ebb and flow. It's a little bit lumpy. We do continue to add additional services to each of our contracts, and that services line is gonna continue to grow because of that. Our total revenue for the quarter is 56.2%. We also saw CAD 84,413 in government funding. That's a reduction versus last year's government funding for the quarter. Government funding is another one of those non-dilutive cash sources at Cloud DX. It's not included in revenue. It comes to us for R&D and grant purposes to bring some of our new technologies to market. It is cash that we use to pay for operations around the company. It also fluctuates depending on the timing of payments of certain grants. We have one large grant operating right now with the Digital SuperCluster. That program was announced in November of last year. It's a partnership with Medtronic, Medtronic USA. It's funded with CAD 12 million in funding from the Digital SuperCluster and Medtronic, and Cloud DX earns about CAD 560,000 over the course of that grant to integrate our platform with a new Medtronic medical device. Those payments will fluctuate from quarter to quarter. Additional grants are either pending or coming on stream in late 2023 and 2024. So that's a great source of additional cash for Cloud DX. Our cost of sales, which is really the cost of inventory of Connected Healthcare, it's dropped a little bit just because of the purchases and the purchase cycles of inventory for us. Because of that increased subscription revenue, basically maintaining our product revenue and maintaining or reducing our cost of goods sold, we saw a very healthy increase in gross profit, up to 79.7%. That's, of course, a blended margin between services, products, and subscriptions. We're also seeing tremendous progress on reducing operating expenses. You see here that operating expenses for the quarter was reduced by CAD 608,000 or 23%. This is a continued drive at Cloud DX to optimize operating expenses to get to cash flow positive as fast as possible. That led to a 26.8% increase in EBITDA, or a reduction in negative EBITDA. So again, that trend towards profitability continues and is, but in our, and as you'll see in a moment, accelerating. We have recorded an interest expense in our financial statements of CAD 628,920. This is interest on convertible loans that we're accruing as part of our convertible loan program that we've financed the company with over the last couple of quarters. Cloud DX interest on convertible loans is not cash. We're not paying cash. We're accruing that interest and is expected to convert into stock when those loans mature. You can consider that a non-cash item, although it doesn't obviously add to our net loss. It is in fact not. It's not a drain on cash flow, and again is expected to convert to stock, either wholly or in part, when those loans mature. Those loans, by the way, mature over the course of the next three years at different times, just to make sure that it's been spread out a little bit. Altogether, an excellent quarter and part of an excellent year so far. Please, next slide. The numbers for the first half of 2023 are really, really great, and we're very excited to share these numbers with investors today. For the year, compared to last year, we're seeing 100 and n early 116% increase in subscription revenue. CAD 229,000, just under CAD 230,000 increase in subscription revenue. So again, that on a quarterly basis, was doing great, on a half year basis, is doing really great. We've also, for the year, increased our product sales by 27% and our professional services sales by 80%. So all these numbers are growing in the right direction, and this is the third quarter, third consecutive quarter of double digit or triple digit growth in all of these numbers as we, as we continue to grow. Total revenue for the year to June 30th is 63.3% higher than last year. I mentioned already that government funding has fluctuated compared to last year. Cost of sales is down a little bit, partly because of inventory accumulation on previous quarters. And so gross profit, again, is still in the above 70% range for the whole year. Investors can get excited about that because obviously, this is a question of scale now, and if we're operating in gross profit margins of 73%, and we see a doubling, and then a doubling again of patient numbers, then we can see very clearly the path the company's on to becoming profitable, and then shortly after that, we hope, very profitable. As you see here, operating expenses for the year are down just under 8%, 7.5%. We really began focusing on operating expenses in Q1, and so you'll see in our previous webinar and our previous financial statements, Q1's operating expenses were a little higher. When you begin reducing operating expenses, there's a quarter or two or three time lag in order for those reductions, especially, you know, if there's staff reductions, to work through the financials. So we're gonna see that continued trend of reduced operating expenses in the next two quarters, and for the entire year, it should be a very substantial impact on our profitability. Nevertheless, EBITDA reduction in negative EBITDA is still double-d igits, 14.2%. And again, we've discussed already the non-cash carry forward of interest expenses that will be accrued and then will be paid or converted at the maturity of the notes that we're currently operating with. So again, just to reflect on what this really means, the trajectory for revenue is exactly what we'd hope to see, especially with the strong lead of subscription revenue. Cost reduction is coming down, gross margin is very strong, and what this does is it sets the company up for a very, very strong finish for the year and a very, very exciting 2024 as these trends continue. Next slide. So where did all this growth come from? Cloud DX has announced 20 contracts or contract extensions to date. 17 in the half period, so 17 were announced up to June 30, and then three more subsequent announcements since then. That's a very strong growth trend versus 2022, where for the entire year, we announced 28 contracts. But more importantly, the contracts we're announcing this year are bigger. They're just bigger contracts. A great example of that is Mohawk Medbuy. We announced in June, on June 24th, that we had won a competitive RFP to become the sole vendor for Remote Patient Monitoring services to Mohawk Medbuy. For those who are not aware, Mohawk Medbuy is the largest shared services organization or government procurement organization. It's actually not government, it's a private company, but their role in the healthcare system is to develop the best prices for hospitals and provincial health departments across Canada, and then make those contracts available for easy procurement. Becoming the sole vendor for Mohawk Medbuy for RPM was one of the most exciting announcements of our entire history as a company. Mohawk covers over 100 hospital systems and entire provinces in Canada. The first two contracts that were announced at the time of the RPM win, together are over CAD 3 million in value. That's the first two out of potentially dozens out of hundreds of members. Any member now of Mohawk Medbuy, who wishes to procure remote monitoring in Canada, can simply purchase it directly from Mohawk Medbuy, and they'll be purchasing Cloud DX. This positions us for tremendous growth in the Canadian ecosystem and firmly establishes Cloud DX as the absolute leader in remote monitoring in Canada. So I want to emphasize that not only have we signed more contracts, we're signing bigger contracts that we're winning through hard-fought RFPs, and we'll talk about another example of that in just a minute. I mentioned here that sales is on track to roughly double between now and the end of the year. That's a combination of the number of contracts signed, the value of those contracts, and we believe that's actually a relatively conservative statement because of, of what's in the pipeline. So as noted previously in the financial, charts, subscription revenue climbing in triple- digits quarter after quarter after quarter. Gross profits climbing in triple- digits quarter after quarter after quarter. Very exciting. I will emphasize our partnerships. Again, one of the key differentiators for Cloud DX, and one of the most important things investors need to know about Cloud DX, is that we are the chosen partner of the largest medical companies in the world. Medtronic chose Cloud DX to be their acute care, virtual care, and RPM partner. Together in Canada, Medtronic has been developing commercial contracts with Cloud DX for over a year, and we've announced large contracts in Ottawa with the University of Ottawa Heart Institute, in Ontario with St. Mary's Hospital, and more to come. We're also partners with Teladoc Health, the largest telehealth and telemedicine company in the world. Teladoc is developing contracts in Canada. We're in discussions with Teladoc, and Teladoc is representing Cloud DX in other parts of the world, and global growth for Cloud DX is beginning to come together through our relationship with Teladoc. There are several more. Equitable Life, C2-Ai, which is a great company from the U.K. that is providing care to Western Canadian provincial governments, providing software that is being integrated with Cloud DX, and so on. Overall, again, an understatement for the year so far, we've announced over CAD 5 million in contract value with those 20 contracts, and at the... When we think about the value of those contracts and how that value is currently not being reflected in our market cap, it should give investors a good idea of where this whole enterprise is headed. Subsequent to June 30th, we did announce three more contracts. Andrew? St. Mary's is one of our largest customers at this point. St. Mary's is a community hospital in Kitchener, Ontario, our hometown, our home base. St. Mary's is now using Cloud DX Connected Health for chronic disease management with their COPD and congestive heart failure patients, as well as getting to use us for post-surgical monitoring. This last order came through that Mohawk Medbuy win and is the largest order placed by St. Mary's so far. We also announced a large expansion order from University of Ottawa Heart Institute, which is partnered with the University of Ottawa, and together is standardizing remote monitoring throughout the entire catchment area of that. One of the most important and prestigious hospital systems in the country, in the capital of the country, standardizing care on Cloud DX Connected Health. We also announced a primary care network in Western Canada, whose name we will not be able to talk about until their press release comes out. Signed, again, a competitive RFP that we won, and that network is beginning to onboard patients already under that contract. There will be some interesting, exciting news about exactly what that looks like, literally in the next week or so. So just keep an eye out for that. Andrew? Cloud DX is very pleased to be invited to present at two upcoming investor conferences in September. One is the National Investment Banking Association Conference, which is being held in Fort Lauderdale, Florida, at the Westin on September 7. I believe a lot of Cloud DX investors are actually gonna be there, and we're excited to bring Cloud DX, the Cloud DX story to a new audience of American investors at this particular conference. And then our partners and friends at Capital Event Management have invited us to present at their Muskoka conference on September 29. And again, I know a lot of Cloud DX investors are already very familiar with Capital Event Management and do like to attend. If you're gonna be in Muskoka, please, let's get together and happy to chat, answer questions, and talk more about Cloud DX and what's coming. So to review, a very exciting half so far. Triple-digit growth in subscription revenues, triple-digit growth in gross profit margins, double-digit and accelerating reduction in expenses, and improvement in EBITDA. Why is this happening? Connected Health and Remote Patient Monitoring in particular has really now reached an inflection point. During the pandemic, when telehealth became standard across the world, but especially in North America, d octors, nurses, clinicians began using technology to deliver care to patients in a way that was unprecedented and had never been done before. What we're seeing now is the logical extension of that burst of innovation and that burst of new care delivery modes using video telehealth. There's only so much medicine you can practice on a Zoom call. Doctors, nurses, and clinicians need to know the status of the patient, vital sign history, and to be able to communicate with the patient. But at the same time, they need that support to manage patients remotely in a way that they can't do over the phone. Cloud DX Connected Health consists of the kit of devices we send to patients, which we've discussed a minute ago, the clinical portal and the software that runs that system, together delivering feedback loops that allow clinicians to monitor 10x more patients than they normally would over the phone. In addition to that, services, integrations, and customization form the third leg of our product mix. Our partnership with Teladoc Health means that Teladoc Solo, which is Teladoc Health's innovative video conferencing solution, is integrated and baked right into Cloud DX, and is beginning to come to market now in the Canadian market at least, with international discussions and conversations also ongoing. Cloud DX will be spending the next few months perfecting integrations into the two largest EMR solutions in the world, one of which is Epic. The Epic EMR is used by more hospitals in North America than any other EMR, and the other one is Cerner. Between the two of them, Epic and Cerner, they have 78% market share in electronic medical records in North America. We will be fully integrated into both of those platforms by the first quarter of 2024. So the value propositions for remote monitoring are now clear. For patients, it means engagement in your own care, better care outcomes. It means you get to go home sooner from surgery. One of our largest clients, based in Ontario, has an internal presentation that we're expecting to release shortly, so we can talk about which client it is. But what it is is in fact a survey or a study of the impact of using Cloud DX Connected Health on post-surgical patients. The headline number here, folks, is that group, which is a three-hospital system that covers a big chunk of Ontario, has managed to reduce the length of stay of a typical hospital patient by nearly two days, 1.9 days. The savings that that implies on an average hospital stay in Canada for a province the size of Ontario, is if universally deployed, would be over CAD 100 million a year saved. That's the kind of financial ROI that is really driving remote monitoring, in addition to better outcomes for patients and more efficient workflow for clinicians. So the value propositions now are not only proven in studies, they're becoming very obvious just purely from successful deployments in the field. This is really driving every province in Canada to begin adopting remote monitoring, and Cloud DX has won seven out of the last eight RFPs in the country. Moving forward. So that differentiator of continuing to win is one of the key reasons why we're growing so fast. We're also innovating new technology, and new technology is coming to market in Canada, and eventually through our partnerships with Medtronic and Teladoc in other parts of the world. That includes our VITALITI Continuous Vital Sign Monitor, which is currently in clinical validation studies in Hamilton, Ontario, with McMaster University. Our AcuScreen Cough Analysis technology, which is in clinical validation studies with University of California San Diego, and our Augmented and Extended Reality technology, which is currently under development at Sheridan College, with hundreds of thousands of CAD in non-dilutive funding from various sources, including Ontario Centre of Innovation, NSERC and the Ministry of Innovation. One of our superpowers of Cloud DX is delivering better patient compliance. We do that by managing patient compliance with our partners. That means that patients on Cloud DX, using Cloud DX technology, are more likely to be monitoring themselves, taking their medications, going to their appointments, and in general, complying with their care instructions, leading to better outcomes. And then, at length, we've discussed our partnerships, which continue to create many, many more new contracts throughout the next number of quarters and going forward into 2024. Next slide. I included this slide in our deck only to make the point that Cloud DX has now got a lot of customers. The point here is that having signed 28 contracts in 2022 and 20 contracts so far in 2023, on track for hopefully doubling that number, we've reached something of a critical mass. We expect that growth to continue. If that's true, and the exponential growth of our contract signing and patients enrolled continues, then it doesn't take a lot of pencil and paper to figure out relatively quickly at what point the company is going to become profitable, which we can now see from here, and on a conservative case, might be three quarters, and on a, on an aggressive case, might be less from now. But also, what the implications for this will be as remote monitoring becomes universal. When provinces can save hundreds of millions of CAD by using remote monitoring to help patients go home sooner from hospital. It becomes obvious, especially considering the state of Canadian healthcare today, that that trend must continue. As the undisputed leader in RPM in Canada, Cloud DX is well positioned to take advantage of that, and we're looking forward to growing that quickly. We have built our technology on proprietary intellectual property, and during the year, we announced two new granted patents, with more patents pending and more announcements coming around our IP portfolio. The point here is to let investors know that Cloud DX is not only an innovator, we're also protecting that IP with a strong base of good, high-quality, granted patents. Next slide. That also leads to recognition, and Cloud DX is proud to be one of the most awarded technology companies in Canada. We've won more awards than anyone else in our industry. But for investors, the important thing to note here is not only that we've won these awards, but that many of these awards come with non-dilutive cash. The number quoted here is CAD 2.8 million so far. That includes CAD 2.5 million as winners of the Qualcomm Tricorder XPRIZE, the first Canadian company to ever win an XPRIZE. CAD 220,000 as co-winner of the NSERC Synergy Award. CAD 100,000 as co-winner of the Roche COVID-19 Open Innovation Challenge, and so on. This is actually an understatement with regards to the non-dilutive capital that Cloud DX has brought in. It's actually closer to CAD 11 million in grant funding. This is just derived from awards, and that's, I think, really cool. And then the last point before we start to wrap up and answer questions here, is just to remind everyone that Cloud DX is a real leader in R&D, and especially in validating our technology with academic partners who publish in prestigious peer-reviewed journals. Additional publications are in the pipeline, but Cloud DX has been published in the British Journal of Medicine, the Canadian Journal of Cardiology, the Journal of Medical Internet Research, and these papers are often cited by not only eminent experts in the field, but in some cases, they're also cited by our competitors as examples of why RPM is a growing and exponentially growing niche in virtual care. So, we're very proud of our academic partnerships. These lead to the kind of credibility that you can only earn with peer-reviewed, validated, published results. Last slide. So just to wrap up, and then we'll go to questions. Why invest in Cloud DX? Virtual care is meeting real needs across the world, but especially in North America. One out of three adults has a chronic illness. One out of six adults has a neurological disorder. 29% of surgeries in North America have serious complications. We see some of the highest user satisfaction numbers possible. In survey after published survey, Cloud DX patients report over 90%-95% satisfaction with the Cloud DX Connected Health system, and clinicians report over 90% satisfaction with the clinical software they use every day to monitor patients. We're the largest RPM provider in Canada, and we have a growing footprint in the U.S. and relationships we're building around the world. We're seeing, as I mentioned, at the very top, triple-digit growth in both subscriptions and gross profit, double-digit growth in other forms of revenue, and reduction in costs and reduction in negative EBITDA. The trusted partner of the largest companies in the world, and yet we're just getting started. Most of what we see on this slide, folks, is currently not reflected in our market cap. But market sentiment seems to be improving, and I believe that Cloud DX is well positioned with this kind of growth trajectory to take advantage of that market sentiment improvement, and to continue to execute while this becomes more of a driving force for our stock price. And that's really the end of my presentation today, but I see some questions popping up, and so let's see what we can do on some questions here. Now, this is a great question about conversion rate and adoption rate through the Mohawk Medbuy contract, and this is a question from Tim. So there's two parts to the momentum or acceleration into a new contract like Mohawk Medbuy. One is an outbound effort by Cloud DX to let everyone who is a member of Mohawk MedBuy, all 100+ hospital systems and so on, to let them know and make them aware that Cloud DX has won the RFP, that we are the Vendor of Record, and that, in fact, they can order RPM solutions from Cloud DX immediately without an additional RFP of any kind, and so to this outbound market. We announced that contract six weeks ago. It's the middle of the summer, so obviously, that effort will be accelerating in September and beyond. The second obvious question is: Which provinces and which members, rather, of Mohawk MedBuy are currently or likely to be looking for remote monitoring services going forward? And that is a function of funding envelopes, and that is a function of internal hospital budgeting. But in general, we've seen two trends since the beginning, or really the end of 2022. The first trend is that more and more hospitals have been evolving their RPM strategy and are now crystallizing it. They're ready to move forward. Provincial budgets are now accommodating RPM at a higher rate than ever before. A perfect example of that, which is actually outside of the hospital system, is in Ontario, where community paramedics deploy Cloud DX Connected Health as part of a program called long-term care for frail elderly. This is a program that keeps folks who are older in their homes while they might be on the waiting list for a long-term care bed. Over 200 patients, actually way over that, approaching 1,000 patients, will be onboarded onto that program as it continues to roll out. We have nine contracts with paramedic services across Ontario for this program. It's one of the most successful programs in the country for reducing the impact of hallway medicine and improving life, lifespans, and care for the elderly. It has been refunded in the most recent Ontario budget with CAD 174 million in new funding. There are 33 counties in Ontario that could deploy this solution. We believe that within that next funding envelope of CAD 174 million, all 33 will have deployed this solution, and Cloud DX by far dominates in that space. So, there's a tremendous opportunity in the next 12 to 18 months to see that, and I believe Mohawk Medbuy will be a similar case. So, let's see. If we assume conservative onboarding and adherence of lives related to signed contracts, what would our annualized revenue be? So Cloud DX, for the year ending June 30, re-reported just under CAD 1 million in revenue and accelerating. We believe that we should be in the CAD 2 million-CAD 3 million range for this year. But if you continue the trends, it means that 2024, we should be looking at conservatively, somewhere in the CAD 4 million-CAD 6 million range. And then, depending on several factors, which includes that the size of each contract we're signing today is getting larger and larger and larger. On the optimistic side, we would be looking at annualized revenue somewhere in the CAD 8 million-CAD 9 million range and so on, and that's 2024. You know, again, this is continuing and extrapolating what we've seen in the last three quarters, but if we were to do that, these are the numbers we would get. Short of giving the market written guidance, I'm simply stating that we've seen these trends so far and we're optimistic. Great question from Alan Klee: "How does RPM get someone out of the hospital quicker?" And that's an awesome question. When it comes to discharging patients home from hospital, doctors and nurses, but doctors especially, make that discharge decision based on several factors: stability of the patient's vital signs, the patient's acceptance of the medications they're on, and the need to monitor patients for complications or bad outcomes prior to discharge. If anyone has ever been in the hospital and actually spent three, four, five, six, seven days in the hospital for whatever reason, I think we can all remember that the last two or three days are not very dramatic. You're just kind of sitting around while they monitor you to make sure you're stable so that when you go home, you're gonna be okay. The beauty of using Connected Health by Cloud DX is that they're able to shift that final stage of monitoring from the hospital to home. That's literally what it's called in the industry, Hospital- to- Home. It means that the clinicians can give patients the same level of oversight that they're receiving in hospital, only at home. So that shifts that cost base, if you will. I mean, basically, each of us is paying for our own home, we're paying for our own meals, we're doing our own cleaning. All of that is no longer on the hospital budget. From the point of view of dollars and cents, it's a more efficient way to care for patients from the cost delivery point of view. But more importantly, especially for the Canadian healthcare system, it frees up the bed. The number of people lying in hallways waiting for beds in Canada is a national scandal. One of the ways we're gonna solve that scandal together is by sending patients home with Cloud DX Connected Health as soon as they're ready to go, and monitoring them at home to ensure that there's no complications or that those complications are met immediately with intervention that reduces the chances that patient's gonna come back to the ER or go wind up back in the hospital. So Connected Health, in essence, makes care more efficient. It allows a small team to care for more patients with the same resources, or in fact, increase the size of the patient base, if you will, because a portion of the patients you're caring for are now no longer in your brick-and-mortar facility. They're at home. They're in their own facility. But you've extended the envelope of your ability to care for them from your brick-and-mortar facility to the home. Another aspect of this technology is called Hospital- at- Home, which is the most extreme case, which we're also starting to see across North America, where in addition to Connected Health, the devices we saw earlier in the Cloud DX app, there are even more robust medical devices in the home, IV infusion pumps, and potentially even a hospital bed. We elevate the home care experience all the way to the point where it's equivalent to being in the hospital. Cloud DX is pursuing this in the U.S., especially because it's a vast and growing business, and our technology is proven to work in that way, especially with our post-surgical customers like Hamilton Health Sciences, and Ottawa Hospital, and Kingston, and Alberta Health Services, and so on. We have a lot of experience in Canada with Hospital- at- Home, and we believe that the potential market for that is in the... Gosh, folks, it's in the hundreds of millions of dollars. Hospital- at- Home is very profitable for U.S. hospitals. Studies have shown that U.S. hospitals earn an additional 38% ROI on the resources required to deploy Hospital- at- Home because they don't have that brick-and-mortar cost and because the same small team can care for more people. Another question: With recent financings, cash can pivot by management, public listing or privatization. Okay, great question. Really, this is a question from Tim again, and the question has to do with whether Cloud DX intends to remain a public company or whether privatization is still a potential. You know, really, this is a question I get from investors often. Partly, my belief is that, again, the market has not recognized Cloud DX's achievements so far. I believe that makes our share price a crazy good opportunity. I think if you think about it and realize that we've announced 48 contracts since January 1st, 2022, with really not a lot of movement in our share price, we're saving up something there that's going to eventually kick in. But in the meantime, there's several reasons to remain public, and then there's also good reasons to go private. It's a conversation that's always ongoing with companies like us and our size. I can't give any clear answers today to how that might play out. Our goal is just to build the best company we can build, to deliver the best possible care to our stakeholders, our patients, and our providers, and to be aware of opportunities as a public company to potentially consolidate and acquire smaller competitors, grow even more quickly through that pathway, or on the other hand, the potential opportunity to remove ourselves from the public fray for a while and then build the business and come back, potentially come back to the public markets later. Great question. We're thinking about both. Regarding U.S. expansion, this is a question that does come up all the time, and as we dominate the Canadian market and as we win all the RFPs that are already won, and we become the vendor of record for all the hospital systems in the country, which is the path we're on, U.S. expansion becomes the obvious next step. We have a strong foothold in the United States with large primary care clinic-type clients in four different states and a full pipeline of new U.S. clients coming through. But the real opportunities we see now going forward in the U.S. are on the hospital side, in addition to, not instead of, but in addition to the primary care business that's growing so quickly for us. I again just refer back to the concept of both transitional care or Hospital to Home and care in the home or Hospital- at- Home. The exciting thing for us is that in the U.S., Hospital- at- Home is a recognized program from the Centers for Medicare and Medicaid Services. CMS certifies hospital systems to deliver Hospital- at- Home care, and that's a public database. So Cloud DX is in a position to communicate and market to all the hospitals that are currently either planning or have just launched a Hospital- at-Home program. With the evidence and published information we have of efficacy of our Hospital- at-Home programs in other parts of North America and Canada, we're in a strong position to become a leader in Hospital- at- Home because we're not starting from scratch. We're starting from a position of strength here in Canada. I would say, Alan, the answer to your question is, on the U.S. expansion side, you're going to see more and more news about the primary care areas we're going forward in, and more and more news about relationships with hospital systems for Hospital-at-Home and Hospital-to-Home care. I will remind everyone, that type of sales process with large hospital systems is a longer sales cycle versus a shorter sales cycle for smaller organizations like primary care clinics. There's one more piece of news that's very, very exciting for Cloud DX. Every year around this time, the Centers for Medicare and Medicaid Services in the U.S. publishes for public comment their upcoming rules. It's called the Physician Fee Schedule. This is where they articulate how doctors and nurses are going to get paid for everything, but especially for, in our case, for Remote Patient Monitoring. The most exciting news coming out for January of 2024 is that the American government has added an entirely new class of healthcare facility to the list of those who will be reimbursed directly for Remote Patient Monitoring with specific reimbursement codes. This is a group of clinics called Federally Qualified Health Centers, or FQHCs. These are centers that typically deal with some of the most challenging patients, older patients, patients with multiple comorbidities, patients who happen to respond extremely well to Remote Patient Monitoring. Prior to this year, FQHCs were not directly reimbursed for RPM. They could still deploy RPM, but they wouldn't get paid to do it. By changing the rules and directly reimbursing, it opens up a tremendous opportunity, and with the first-mover advantage we have with, again, our leadership role in Canada, we're definitely taking advantage of this, and reaching out to all of the federally qualified health centers and rural health centers, which are also allowed to now bill for RPM. There are over 1,000 federally qualified health centers and over 1,600 rural health centers on that list. So that's a whole new class of client that we're going after, starting now for launch in January of 2024. Okay, and that seems to be the end of our questions today. So again, thank you very much for joining us. Cloud DX is extremely proud and excited of the work we've been doing. This year, we're having a terrific year. We believe that it's only going to get better from here. I think that, in our next conversation, in the next quarter, I will have even more exciting news to share with you. In the meantime, CDX is our ticker symbol on the TSX Venture Exchange. CDXFF is our ticker symbol on the OTCQB. Please take advantage of all this growth and take a look at Cloud DX for your portfolio. Thank you very much. Have a great afternoon.