Good morning, welcome to Reliq Health's corporate update for Q1 FY 2023. Today is November 30, 2022. My name is Lisa Crossley, and I'm the CEO at Reliq Health. Please take time at your leisure to review the forward-looking statements disclaimer provided here. As usual, for anyone who is new to the story, a little bit about the company. We are a rapidly growing healthcare technology company. We specialize in providing virtual care software as a service solutions to the multi-billion dollar healthcare market. We have a platform that's intended to benefit everyone in the healthcare ecosystem, from patients to clinicians to payers. We provide comprehensive turnkey solutions that allow clinicians to seamlessly roll out new billable virtual care services, increasing their revenues. We generate our recurring revenue from subscriptions, and we are growing very rapidly, and it is an organic growth that is fueled by industry trends. We have strong margins. We expect to achieve a 75% gross margin in 2023 and a 45% EBITDA margin, and we expect to uplist to the Nasdaq at some point in calendar year 2023, probably around the middle of 2023, obviously subject to market conditions at the time. Today's agenda, we'll go through some highlights from the financials that we just filed last night, provide an update on guidance for 2023. We'll go through some shareholder questions, and lastly, I'll provide the date for our next webinar to review the quarterly financials for the quarter ending December 31, 2022. The highlights for the three months ending September 30. We increased revenue over 2x to a little over $3.4 million for the quarter, as compared to revenue of $1.6 million for the comparable quarter in FY 2022. We increased the percentage of revenue that we're generating from the higher margin software and services. It went up to $1.4 million for Q1 2023, as compared to software and services revenue of just $363,000 for the three months ending September 30, 2021. Q1 FY 2022. That's an increase of over 290%. Adjusted EBITDA, which is adjusted for non-cash expenses and non-recurring expenses, increased by over 720% to a $610,000 gain, compared to a $74,000 gain for the comparable period in 2021. Highlights for the period also include that we signed new contracts with 26 different healthcare organizations, including physician practices, home health agencies, pain management clinics, and a number of other healthcare organizations. We also signed a large network of physician practices in Florida that's expected to add over 50,000 patients to our platform by the end of the next calendar year. We signed a contract with a network of skilled nursing facilities in Florida that's expected to add over 108,000 patients per year every year to the platform beginning in calendar year 2023. We signed a contract with a network of 15 skilled nursing facilities in California that's expected to add over 12,000 patients per year every year, beginning in calendar 2023. The skilled nursing space in particular is a new and previously untapped market for Reliq. We do expect that our expansion into that space is going to continue to accelerate over the next calendar year. We are expecting some significant upside from entering this new market segment that we previously hadn't necessarily considered in any of our forecasts. Our guidance for 2023, you know, we've definitely had some ups and downs over the last 12 months. More impact from what I would sort of call acts of God than one would normally expect to see in a given year. Our company, our clients have been significantly impacted by a number of unexpected issues over the last 12 months, that includes the Omicron wave of COVID-19, which peaked towards the end of calendar year 2021 and in the beginning of calendar year 2022. That impacted our revenues for the H1 of this calendar year. This fall, our clients were impacted by hurricanes that hit Florida, Puerto Rico, and the U.S. Virgin Islands, which, you know, are among three of our most significant geographies. Those hit earlier this fall. Those created some delays for our clients where they had, you know, developed implementation plans, but had to back up a little bit on some of their anticipated timelines. As a result, we're expecting that forecasted revenues will probably be pushed out about four months-six months. We are going to provide more detailed guidance in early 2023. There are a lot of moving parts right now. For one thing, we, you know, certainly hadn't necessarily expected the skilled nursing market to take off as quickly as it has for us. You know, that may offset some of the delays that were caused by COVID. We'll just have to wait until I think a little further into next the Q1 of 2023 calendar to get a better sense of how those two things are gonna balance each other. I think the very good news here is that, you know, it's not a question of if, it's a question of when. These revenues are all definitely Built in to the company, you know, they are going to come in, it's just a question of there may be a few months delay associated with some of the really unusual circumstances that clients have faced over the last 12 months, which we expect, you know, will not be an ongoing issue. As the company grows and diversifies both geographically and in terms of the different sectors that we're serving, I think we'll be much less vulnerable to issues like this that occur with clients. One of the sort of finer points I want to delve a little deeper into is that we currently have over $15 million in device orders. Clients have placed orders worth $15 million for devices, and we had expected that we would fulfill those orders by the end of calendar year 2022. Due to the issues that we just discussed, a number of clients have had to delay the shipments, the receipt of those devices for a number of months. Since we recognize revenue from devices only after the customer has taken possession of the device, that $15 million in orders that's on our books, is not recognized as revenue until we've actually shipped the devices to the clients. We do work closely with our device suppliers, as most of you probably are aware, where the device manufacturers are holding the inventory. We don't actually have to take possession of it, so we don't have these terribly high working capital needs. Because of the issues the clients have had, we have $15 million in device revenue that we thought would come in by the end of December of 2022, that's going to come in in the first half of calendar year 2023 instead. All device orders are associated with software and services contracts, so they're a very good leading indicator of future software and services revenue. Again, you know, it's not a question of if this revenue is gonna come in, it's a question of when, and the when is, you know, within a few months of when we'd originally anticipated. You know, the very good news about the hardware orders is, you know, those predict a very strong growth on the software and services side in 2023. Some of the questions we've had from shareholders. Warrants. A lot of people have asked me if we've received all of the warrants, and at this point, I believe all except maybe 9,000 warrants have been exercised. They expire this weekend, so that last 9,000 may come in yet. We've received gross proceeds of a little over CAD 1.4 million from the exercise of those share purchase warrants associated with the private placement that we completed in December 2020. That's obviously been very helpful to the company's cash position. Shareholders have frequently asked about our shift away from sort of the smaller individual physician practices or home health agencies to larger clients. I think hopefully over the last few months, shareholders have really begun to understand how that shift is going to happen and started to see where that's going to come from. We are definitely moving to the larger scale clients. We have enough clinical data demonstrating efficacy and enough data around reimbursement, showing that our clients do receive reimbursement from Medicare and Medicaid, that we are now able to attract these much larger clients that have very significant revenue potential. We expect that trend to continue and frankly, to accelerate in calendar year 2023 and beyond. Most recently, you know, we were able to add this large physician practice network that had 50,000 patients, as well as the 90 skilled nursing facility network in Florida and the skilled nursing facility in California that has 15 facilities. We really are starting to onboard these clients that have much larger patient bases versus the individual physician practices or home health agencies. That's, I think, really going to contribute to a very significant increase in our rate of growth in calendar year 2023 compared to calendar year 2022. You know, frankly, calendar year 2022 was a period of very, very rapid growth for us relative to the prior year. I think we're really just getting started. Foreign exchange. We have already received questions from the financials that we filed last night about the foreign exchange amount on the income statement, which was over CAD 500,000. The reason for that foreign exchange amount, that line item, it just reflects the change in value of the Canadian dollar relative to the US dollar over whatever is our current reporting period. In this case, it's three months ending September 30, 2022. It's really not something to worry about in general, given the strength of the US dollar and the trends that are suggesting that the US dollar is going to stay very strong relative to the Canadian dollar. The company really benefits from the fact that most of our expenses are incurred in Canada, while most of our revenue is generated in the U.S. in US dollars. You know, the exchange rate generally is a very positive thing for us. Dilution, we... You know, I try to address this frequently, but we do get the question again and again. I'll just repeat. As we're turning more of our focus to account management, we expect collections to accelerate significantly going forward. We don't expect to continue to, you know, need to pay consultants or compensate contractors, business development and sales contractors with options. We, we have radically scaled back on issuing options as a form of compensation. That's all shifted, for the most part, to cash-based compensation. In order to offset some of the dilution we've seen, you know, if it makes sense for the company, in the coming, I would say, 12 months. Within the next 12 months, we do expect to initiate a share buyback program, once we get to the point where we're throwing off a fair amount of free cash. I think that's something that I, that I personally feel is a better business decision for the company than issuing dividends. Obviously, that doesn't preclude us from issuing dividends at some point, but I think, you know, there's certainly going to be the opportunity for the company to initiate a share buyback program, and that should mitigate any dilution that we've seen to date that, you know, as a result of the company having periods where we were, we're certainly not cash rich and so had to use options as a form of compensation. Our next webinar is going to be on or before March 2, 2023. The quarterly financials for the quarter ending December 31 are due to be filed on or before March 1, 2023. I know that that seems a long way off, but I assure you it will arrive very quickly. And I know it's a different cadence relative to, you know, having spoken to you all about four weeks ago, when we had filed our annual audited financials. Certainly the company will keep everyone up to date on what's going on with operations through our press releases and conference presentations and things like that. It's not as if you won't hear from us between now and then. I wanna thank everyone for joining us. I tried to keep it brief since we did just speak four weeks ago. You know, I think overall, the message I'd like everyone to take home is that this has been a year of very rapid growth for the company, and we're all very excited about that. There have been some issues that clients have faced that have impacted the business, and we don't expect those same issues to be a factor in the business going forward, or at least not as significant a factor. Really, as you can see, based on just over the last two months, three months, the contracts that we've announced with the much larger clients, you know, the company is definitely at the beginning of a real step change in the size of client that we attract and the rate at which we onboard patients. I expect 2023 to be a year of really significant growth for the company. While I'm very pleased and excited about the growth that we've had this year relative to previous years, I would reiterate what I said earlier, which is this is really just the beginning for us. I think we're at a very exciting point, and I'm really looking forward to calendar year 2023 and beyond, as is the rest of my team. Thank you very much for your time, and we will speak to you all again in a few months.