Good morning or good afternoon, depending on where you are. Today is Monday, July 31, 2023, at 9:00 A.M. Pacific Time, 12:00 P.M. Eastern Time. My name is Lisa Crossley, and I'm the CEO at Reliq Health, and this is Reliq Health Technologies corporate update for July 31, 2023. Please review the forward-looking statement disclaimer at your leisure. Here's another disclaimer. This was actually the most challenging webinar I've ever prepared, because we are discussing a period that for which we've not reported our financials and where we won't be filing until the end of October. Please note that we will be filing the annual audited financial statements at the end of October 2023, and we do not report results for Q4 separately from the fiscal year. Today's webinar is intended solely to provide an informal interim update on progress for fiscal year 2023. It is not intended to be reporting results for Q4 or for the fiscal year. The company's auditors are currently engaged in the preparation of the annual audited financial statements. The agenda for today, I'll provide a high-level overview of fiscal year 2023 progress and performance. I'll discuss the outlook for the remainder of the calendar year, and I'll share some other sort of general updates, and then we'll discuss dates for the upcoming webinars. Fiscal year 2023 overview. For the fiscal year ending June 30, 2023, we can tell you that year-over-year total revenues have more than doubled from fiscal year 2022 to fiscal year 2023. Going forward, we expect that total revenues will double, more than double again from fiscal year 2023 to fiscal year 2024. We're certainly in a period of rapid growth, and I would say that growth is going to accelerate significantly over the second half of the year and into 2024. Revenues from software and services specifically increased by over two and a half times year-over-year from fiscal year 2022 to fiscal year 2023, and we expect those to more than triple from 2023 to 2024 fiscal. Those of you who've been following the story for a while will know that I'm not generally a fan of being a, a hardware company, and largely based on my previous experience running two hardware companies. My objections really are centered around the need for high levels of working capital in a conventional hardware company. In our case, because we're able to work with the vendors to supply hardware just in time to our clients, and we don't have to pay the vendors until we receive payment from our clients. Our hardware sales are actually a very different model from what I've been used to in a traditional hardware company. We will continue to supply hardware to clients going forward due to strong customer demand. Our hardware revenues have a greater than 50% gross margin, with minimal working capital needs, which is a pretty compelling business model. Hardware sales directly translate to future software revenues. By providing hardware to our clients, we're able to get them onboarded and have their patients supplied with the necessary monitoring devices much more quickly, and we are therefore able to accelerate software revenues. Hardware will continue to be a valuable ongoing revenue stream for Reliq, and I just wanted to provide that clarification since I, I know that, sometimes people will say that, you know, hardware is, is a one-off in our business model and, you know, not necessarily a, a, a high-value item for the business. In point of fact, we do expect that going forward, most clients who are going to be using the software will first purchase hardware from us. It will be a recurring revenue stream, less predictable and certainly more cyclical, with more spikes and troughs than the software model, but it will continue to contribute significantly to the company's bottom line. In fiscal year 2023, I think the biggest advancements that we made were that we started signing these much, much larger clients than we've have historically. As many of you know, in traditional healthcare software companies, you start out with small, individual physician practices, home health agencies, small clients in general, and you prove your model and your company with those smaller clients. Once you've been successful with those clients, you've been able to demonstrate clinical efficacy. You have several years of data that demonstrates that patients are hospitalized significantly less frequently and the healthcare costs are lower. Once you have several years of claims data with Medicare and Medicaid, validating that when clinicians deploy your platform, they will get paid, then you are able to graduate to these much larger network clients who have multiple facilities across multiple states and who can add orders of magnitude more patients to the platform as part of their contracts. This fiscal year, we signed a large US healthcare system that operates over 1,200 care centers across seven states, and they supply a variety of different types of care settings, so skilled nursing facilities, hospitals, home health agencies, hospice agencies, and primary care clinics. The healthcare system has more than 10 million patient encounters a year across their network, so they're a very significant provider of, of healthcare in the US. We also signed a large US health plan that operates Accountable Care Organizations, which are large groups of primary care physicians. They operate in five states. They have more than 3,000 doctors, and they have over 1 million patients. This client is a subsidiary of one of the US's largest providers of hospital and healthcare services, which is also a Fortune 500 company. We really are moving into these blue-chip clients. It's certainly our expectation that by the end of the year, we'll be able to disclose the identities of several of these large clients. We've also signed a large inpatient healthcare organization that's headquartered in Florida, although it does have facilities outside of Florida as well. We are currently contracted to deploy the iUGO Care platform in over 180 of their skilled nursing facilities in acute and long-term care hospitals. They will be, again, a very significant for the co- client for the company as we move forward. Excuse me. The company also recently expanded into Mexico, this is thanks largely due to Reliq's success to date in the communities that we've served on the US-Mexico border. We're well known not only for our clinical effe- efficacy and the reducing healthcare costs, but also for having multilingual account managers who can function really well in Mexico. We have a multilingual care management team, as well as having our multilingual interactive voice recognition platform, which can take calls, reminder calls to patients, in any language, but certainly Spanish. I think we're a very good fit for Mexico. Our first client in that country is a healthcare organization in San Luis Potosi that works directly with the medical school that's in San Luis Potosi. It's one of the top medical schools in Mexico, so it has a very good reputation both within Mexico and internationally. We'll initially be providing our iUGO Care platform to older patients who subscribe to concierge medicine, so, really the high end of healthcare. Subsequently, we do expect to expand into the sort of middle ground, private pay clinics and health plans and ultimately into the government-funded programs. There's certainly a lot of new initiatives in Mexico, with the 2 big government funding programs around monitoring of chronic disease patients. There's a real public health crisis in Mexico around diabetes and hypertension, congestive heart, heart failure and Chronic Obstructive Pulmonary Disease. Our platform is a perfect fit to go into that environment and to help in a very cost-effective way, improve the health outcomes for these patients and as a result, really produce significant healthcare cost savings. We also, in 2023, successfully deployed Artificial Intelligence and Machine Learning as part of our platform with two of our key clients who have always really been early adopters of new technologies and new practices in medicine. Currently, AI and ML are available for any client who has the iUGO Care platform, but we started with these two key clients for beta testing and proof of concept. The AI and machine learning technology enables clinicians to build really complex predictive models based on the data collected from their patients specifically, and that allows them to identify at-risk patients earlier to help prevent complications and improve health outcomes. As our clients, for example, Dr. Zuglo from Just Heart Cardiovascular Care, who's an assistant professor at Johns Hopkins in Baltimore, in Maryland, and as they publish peer-reviewed journal articles on their use of the iUGO Care AI and machine learning solution, that's going to open up an entirely new market for Reliq in the clinical research space. So I think that's something that we can look forward to in kind of 2024, 2025, coming online. The company will also be publishing its own white papers on the impact of AI and ML on patients who are using the platform, so that we can really demonstrate to the market, beyond just the clinical researchers, that this is a significant additional component of the solution. AI and ML are going to add significant value to the anonymized patient data packages that we'll be able to license to third parties beginning next year. These are the pharmaceutical companies, research institutions, governments, that will want to license this anonymized patient data to look for trends in population health and, and in some cases, as we do in Canada, you know, help to guide standard of care in specialized medicine environments. That anonymized patient data will become one of the company's greatest assets in, in our opinion, as we move into 2024 and beyond. Our outlook for the remainder of this calendar year, through December 31, 2023, and as previously disclosed in fiscal year 2023, we, we received orders for more than $15 million in hardware sales. We book revenue when we ship devices to clients. We can take the orders, but we don't book the revenue until that device has left our hands and has become the property of the client. We've shipped about 60% of the hardware orders in the second half of fiscal year 2023. In discussions with our clients, we concluded that it was going to be better on both sides if we shifted the remaining 40% of the hardware shipments to the quarter ending September 30th. That's the current quarter. That benefits Reliq because we avoid having a single quarter where there's a sudden dramatic spike in revenue, and then in the next quarter, people are, are disappointed that we didn't do more than $15 million in revenue for that quarter. For our clients, it avoids that big spike in expenses in a given quarter. It also allows the clients to deploy the hardware to patients in a more, you know, reasonable schedule. I think we're more likely to have a good success and, and rapid onboarding with the clients with this more gradual, gradual, smooth schedule. Hardware is sold on 12-24 month payment plans, so we started to receive some of those scheduled payments in Q4 of fiscal year 2023. But the payments will be ramping up significantly over the rest of the calendar year as that hardware goes out and as more of the shipments are spent. And the company will continue to supply hardware to clients, as I, I mentioned, due to strong customer demand, that high gross margin and the fact that we do see this as a reoccurring revenue stream for the company. It is a demand that we expect will continue from the vast majority of clients going forward. The company, as of the end of June, is now managing adherence for all clients. We've got our care managers really ramping up on working with the patients for all of the clients who previously were managing their own adherence. As a result, we expect that we'll see significantly increasing adherence that will translate to a direct impact on revenues in the second half of the calendar year and beyond. The average adherence level is expected to exceed 70% by the end of the calendar year. We've noticed very consistently that adherence levels are higher with the patients who come to us from the larger healthcare organizations than from the individual physician practices. That's partly demographics, partly the involvement of the larger healthcare organizations, which is a bit more hands-on in general. Going forward, we expect the majority of our patients to come from the large clients, and we therefore expect adherence to continue to improve beyond that 70% level as we get into 2024 and subsequent years. There's often confusion around receivables, so I, I wanted to address this. I know I've discussed it in the past, but I just want to take a few minutes here to review the categories we have for receivables. We have trade receivables. This is for product that we've sold, that we've billed the client, and it's collectible within the subsequent 92-120 days. There's also the current portion of long-term receivables. That's typically hardware, and the payments are due over the subsequent 12 months, so monthly, consistently over the next 12 months. The non-current portion of long-term receivables are receivables that are due in the second 12 months of that 24-month payment period. 12 to 24 months after the reporting date. These are all related specifically to those 24-month device payment plans. We often hear, you know, "You should have collected $15 million by now," but that's, that's not the case. You really need to look at the trade receivables. We've made great strides on the trade receivables over Q4 2023 and over the last few weeks even. We did see significant improvements in collections. It is an absolute fact that the smaller clients can be quite slow to pay, and they tend to require quite frequent reminders. The larger clients we found consistently pay on time. We don't have to chase them down, they just, it goes into their automated accounting systems, and it is paid, per the terms that are on the invoice. As I've said previously, the larger clients are expected to generate the majority of the company's revenues, in 2024 and beyond. To our smaller clients' credit, they have made significant improvements, and we do expect that, you know, certainly by the time we file the audited annual financials at the end of October, that everyone across the board will be fully caught up in all of their payments. We expect that we'll collect about $10 million in payments by the end of calendar year 2023. And that will have everyone fully current and will certainly represent very positive cash flow for the company. Again, this is something that sometimes causes some confusion, so I just wanted to revisit the topic. All of our clients, whether they're tiny or have millions of patients, start with staged rollouts of the iUGO Care platform, and that's typical for any software deployment in the healthcare space. You'll certainly see that in hospitals when they deploy electronic medical records. They start with a given ward, and then they move through the hospital very gradually. It's just traditionally the way that software has been deployed in healthcare. In fiscal year 2023, we had a lot of questions with the larger clients who were, quote, unquote, "only onboarding 10,000 or 30,000 patients." That's not a, a reflection of the numbers that we ultimately expect to achieve in terms of patients from these large clients. That's just the first stage of the deployment. Our account managers are currently working with these clients on the plans for the next phase of the deployments, which will add additional facilities and expand into new states and certainly allow us to tap into much larger patient populations. We expect that we'll sign several additional new large clients by the end of calendar year 2023. Between now and the end of the year, we hope to have a, a number of very substantive announcements that we can share with everyone. Other updates. As you will have noticed, when we reported the quarter ending March 31st, the company is now profitable, so that was a big milestone for Reliq. We do not expect to need to raise capital or take on debt to fund operations, so we've been pretty consistent with that messaging. We expect to apply to the TSXV this fall for approval for a Normal Course Issuer Bid, which will allow the company to initiate a share buyback program, which we have discussed it in the past, but we're certainly getting much closer to actually putting that into place. Again, this is another point that sometimes causes some confusion, so I wanted to try to address it. The company has a pipeline currently of well over 500,000 patients based on the contracts that we've announced. We expect that to expand to a pool of over 1 million patients by the end of 2023. For clarity, that doesn't mean that we'll have 1 million patients on the platform by the end of 2023. Based on our existing implementation plans and our discussions with the larger clients in particular, it will take approximately three to four years to get all of these patients not only onboarded to the platform, but adherent and therefore billable. The timing and pace of that onboarding and the adherence is, is in our hands, but the timing and pace of the onboarding and getting devices into the hands of the clients, that's dictated by the clients. They tell us when they want to onboard the next group of patients and when they want us to ship hardware to those patients. We're not the rate limiting factor in the equation. We're able to scale up to provide whatever a client may need to support their deployment and implementation. But we have to basically go along with the client's preferred pace. And as I've mentioned, typically all of the deployments are quite back-end loaded. Clients like to start small and then ramp up. We do expect that the ramp will be quite significant as we move forward this year and into subsequent years. We've certainly seen that unlike the conventional electronic medical record deployment, where, you know, you start small and it's just a really painful experience, and it doesn't encourage you to go any faster with the subsequent deployments. In our case, the clients are quite pleased with the new revenue that they're generating and the positive impact they're having on patients' health. We do expect that the pace will pick up as we move forward, but it's not something that's entirely in our control. We do the best we can to manage clients and help them develop the implementation plans, but sometimes they like to go a little slower than we would like and certainly than we know our, our shareholders would like. There's a huge revenue potential associated with that large patient population. Even if it does take, you know, a few years to get there, there'll certainly be significant revenue generated along the way. Upcoming webinars. We'll host another update webinar in September. Again, it's not a, a, a webinar where we'll be reporting, filed financials, but we want to provide timely updates on progress as we wait for the audited financials to be filed at the end of October. The audited financials are due to be filed by October 28th, and the webinar to review the results of the audited financials will be held on or before October 29th, depending on when we file. We did bring the auditors in over the last month to audit the first nine months of the fiscal year, so that we would be able to kind of get ahead of the game and hopefully ensure that we are able to file in a very timely manner this year. That's going well, and, and we're pleased that we made that decision to bring them in a little earlier this year. As of the October webinar, once we've been able to actually report the last financial period, the company will begin providing detailed guidance, and that will be based on forecasted billable patient numbers. These are patients that have not just been onboarded, but are adherent and therefore are fully billable. Patients for whom we can assign an average revenue per patient and provide you with numbers that you can then use to calculate a model based on, on our projections. The model will obviously also include forecasted hardware sales, and we'll provide sort of a rolling guidance for the subsequent 12 months. Every quarter we'll provide guidance for the following 12 months, and guidance will be broken down by quarter. That's. Hopefully, that provides you with enough detail that you, you know what's coming, and you can start to adapt your models, based on the data that you know will be forthcoming shortly. The last thing I will say very briefly is, we are aware that BCSC has launched an investigation into groups who were personally involved with the company very early on, in the beginning of the company's life. We were very surprised by the allegations. We do not know that the allegations are, are true, and certainly, you know, we believe in Canada's innocent till proven guilty justice system. I, I will say, you know, if, if the allegations are true, that would be very disappointing. You know, these, these types of pump and dump schemes are very damaging in the market, and they're particularly damaging to obviously shareholders and to companies. Certainly it's our hope that the allegations aren't true. For anyone who had any concerns, it's not something that in any way involved the company. If it did happen, it was done to the company, not by or with the company. I don't want to end on that, that down note, so I'll, I'll just reiterate that, you know, the company is very pleased with where we are with the large clients that we've been able to sign and the fact that we've reached profitability. We look forward to a very positive next several years as we work through that pipeline of more than 1 million patients by the end of the year. We look forward to being able to finally provide you with the input you need for your models, for those of you who are very quantitatively oriented. We'll have another webinar in, let's say mid-September, after I get the kids all back to university, and then we'll report at the end of October. From that point forward, I think we should be able to provide really good quantitative data for those of you who are working on models. Thank you very much for joining us. Again, the webinar will be posted on our website shortly after I stop talking. It does occasionally take a little bit of time, depending on, the technical compliance and, participation of, of our, webinar service. Shortly it will be available for everyone to view and download should you so choose. Again, thank you for joining us. Have a great rest of your day.