Hello, welcome to Reliq Health Technologies corporate update. We are going to review Q2 fiscal year 2023. Today is March second, 2023. It is 7:30 in the morning at Pacific Standard Time and 10:30 in the morning Eastern Standard Time. My name is Lisa Crossley, and I'm the CEO at Reliq Health. Welcome. Please review the forward-looking statement disclaimer at your leisure. I will, in some ways have some repetitive content in this slide deck, simply because we do tend to get a number of new investors every quarter. As a reminder, or, for those of you who aren't necessarily familiar, Reliq is a rapidly growing healthcare technology company, and we focus on developing innovative virtual care software as a service solutions for the multi-billion dollar healthcare market, primarily concentrating in the U.S. Our iUGO Care platform benefits everyone in the healthcare system, from patients to clinicians to payers. We provide comprehensive turnkey solutions that allow clinicians to seamlessly roll out new billable virtual care services, so they generate new revenue right from the very beginning of working with us. We generate recurring revenue from subscriptions. Our growth is rapid and organic. It's fueled by industry trends. We have strong margins. We expect to reach 75% gross margins by the end of this year and 45% EBITDA margins. Based on our revenue forecasts as well as our gross margins and the fact that we'll be profitable and rapidly growing later in 2023, we expect that we'll be able to uplist to the Nasdaq. The agenda for the webinar, I'll go through briefly some highlights from the Q2 fiscal year 2023 financials. I'll provide an update on accounts receivable and adherence, which are kind of the two critical points that we discussed on our last webinar in January. I'll go through some shareholder FAQs, and then we'll talk about dates for upcoming webinars. The Q2 fiscal year 2023 financials. These are for the three months ending December 31st, 2022. We did see good solid growth in the second quarter of fiscal year 2023, so fourth quarter of the calendar year, 2022. We saw increased revenue, increased by over 90% to a little over $4 million, as compared to the three-month period in 2021 or fiscal year 2022. We increased revenue from the higher margin software and services sales by 229% to a little over $1.7 million. We are definitely seeing that increase in software and services revenue as a percentage of total revenue, which is what we'd expect, given that going forward, we do expect that we will ultimately have the vast majority of our revenue coming from software and services as opposed to hardware. Hardware, again, is a leading indicator of software and services revenue. We only sell hardware as part of a contract where the client is going to have a software subscription. It's a very good leading indicator of software and services revenue. Certainly we are primarily a SaaS company, and the hardware is just a component that we provide to clients so that we can give them kind of that one-stop shop that clinicians in particular really appreciate. The adjusted EBITDA for the last quarter ending December 31st, went up by over 1,400% to a $720,000 gain, as compared to a $48,000 gain for the comparable period in 2021, fiscal year 2022. Revenue for the 12 months ending December 31st, 2022, so for the last calendar year, increased by over 180% relative to the 12 months ending December 31st, 2021. Revenue for the year was a little over $12.6 million. On the customer front, you know, where we are really seeing some very dramatic growth is in the skilled nursing facility space. We signed contracts with a client in Florida who's added 189 skilled nursing facilities, or will be this year, to the platform. That's expected to bring over 206,000 new patients every year to our platform beginning this year. We also signed a contract with 15 skilled nursing facilities in California. That's one client, their network, and they're expected to add over 12,000 patients per year every year, beginning this year. Typically, you know, our revenue from these patients is $60 in the first 30 days post-discharge per patient and then subsequently $65 per patient per month long term. This is a new space for us. We really just entered into this space in Q2 fiscal 2023, so the quarter ending December. We expect to continue to expand significantly in this space during this calendar year. An update on accounts receivable and adherence. I'll just very briefly review this slide, just to remind people that, you know, we as a company took on a lot of responsibility in 2021 and early 2022 around onboarding and automating both, receiving those patient lists electronically from our clients and then providing those electronic pre-authorizations, so doing the pre-screening through the Medicare and Medicaid databases. We, you know, really in 2021, 2022, kind of nailed the first part of this process flowchart. Where we've seen bottlenecks historically over the last, you know, 18 months, 20 months or so, is in the adherence, time to adherence, and on the collection side. That's where we're really focused for this year. Our strategy to date, as many of you know, since July 2021, we've really focused on leveraging our first mover advantage and establishing ourselves as the gold standard for virtual care in the United States, in particular around that Medicare/Medicaid population, although we are expanding beyond that, certainly. We very successfully achieved this goal by focusing on acquiring as many new clients and patients as possible in 2021 and 2022. That was our real estate grab, really getting out there and establishing ourselves as the market dominator. During this period, you know, we were able not only to sign a lot of contracts and get a lot of new clients, but we were also able to begin collecting data, patient data, that demonstrates the efficacy of our platform in improving health outcomes, reducing hospitalizations, and decreasing healthcare costs. We were also able to collect a lot of meaningful data on successful claims reimbursements to our clients by the Centers for Medicare and Medicaid Services. That data has really been critical to attracting and securing the larger scale clients. As an example, the skilled nursing facility networks versus the individual physician practices their home health agencies. Certainly, we will continue to sell to the individual physician practices and home health agencies. They'll always be an important component of our business, but we expect the bulk of the company's business going forward and the bulk of our clients to be these larger scale networks and larger organizations that represent a much larger number of patients and per client relative to the individual physician practices or home health. An update on adherence. In 2021, 2022, we allowed clients to manage the patient adherence on their own. We did that because clients asserted very strongly, very confidently that they had the necessary resources and expertise to kind of own that piece of the process. The data would suggest that in point of fact, you know, these clinicians, as one would hope, are so focused on, you know, the day-to-day patient care, and particularly given some of the health challenges we've had in the system with COVID and, you know, the RSV and flu. Really, all of their focus needs to go to that day-to-day patient care in the office primarily. As a result, they were really not able to provide patients with the training and the informally, I'll just call it nagging, that's required in order to get these patients up and running and fully adherent so that they're in the habit, it's established, and then they can essentially be much more independent going forward, but still able to collect their data at least 16 days out of every month. Unless they collect their vitals at least those 16 days every month, then Reliq can't deliver billable services to the clinicians because the clinicians are not able to deliver that service to their clients. They're not able to bill, or to claim that they're delivering, real patient monitoring, for example, unless the patients are adherent or collecting vitals at least 16 days every month. We made a number of key changes beginning in January of this year in order to improve adherence and reduce that time to adherence. Beginning January 1, 2023, all of our new contracts specify the clients must authorize Reliq to contact patients in order to ensure adherence. Our account managers are also working with our existing clients who are on the older contracts, to obtain similar authorization. We need the clinicians to grant us permission to contact the patients specifically for the purpose of training and reminding them to collect their vitals and become adherent. We updated our software platform to provide timely alerts to care managers. If a patient is at risk of non-adherence for a given month, our care managers will receive an alert early on in the month if that patient either hasn't collected their vitals or is collecting them very sporadically, so that we can intervene very early and still ensure that that month, that patient becomes adherent. Our care management team is able to use our interactive voice response technology to, through this automated service, provide daily reminders to patients who are non-adherent. We find that very effective. For the small percentage of patients who that isn't enough for, we also can provide live calls from care managers for patients who need that additional adherence-related support. One thing I will say as we go on to the next slide, you know, it's not an overnight process. It certainly takes a number of months not just to get an individual patient fully adherent, you know, fully trained and comfortable and into the habit. It also takes a little bit of time for our account managers to work through the database of our existing clients and secure those permissions from each of them, the authorization to collect or to contact rather, their patients for this purpose. It's not an overnight thing. I know that a lot of people, after the webinar in January were asking sort of a week or two later, "Is it all fixed?" It's not going to be an overnight fix, but it is progressing very definitely in the right direction. We are seeing some very significant improvements. One of the things that we've learned that I found very interesting when our care managers started reaching out to patients who were not adherent. Once we'd contacted the existing clients and gotten permission to contact the patients about adherence, it turned out that in a large number of the cases, the issue is that the patient had received the hardware, might have been six or nine months previously, but were still waiting for a call from their doctor to teach them how to use the unit or even just to tell them, "Okay, you should start collecting your data, and I'll be checking in on you." There's a little bit of a disconnect between the patient's expectations and the clinician's expectations, where the clinicians had kind of thought, you know, the patient will receive the device, they're gonna just get started on their own. The patients thought they really weren't supposed to start until they heard from their clinician. Just having our care managers reach out to these patients and say, "It's time to start using the platform regularly," and then providing it daily encouragement through the interactive voice response makes a huge difference. Just over the last two months, as we've gotten started, and we've seen that with existing clients who've been transitioned over to Reliq Managed Adherence, we've seen an increase in adherent patients. The number of patients in their population that are adherent, and that's gone from 19% with those existing clients to over 70%. We're well on track to get to over 80% with that population. There'll always be sort of 10% of that patient population who in a given month aren't able to be adherent because they were sick or they were admitted to hospital, and where they had a home care visit, which means that Medicare and Medicaid won't reimburse their clinician for preventative services for that month. That's a minority of the patients. It's probably 10% of the overall patient population in a given month wouldn't be eligible, since we would call them non-adherent, even if it's just that they're in hospital and therefore aren't really eligible. Our goal is to get patient adherence as close to 90% as possible. Certainly, you know, we think over 80% is a very realistic goal. The small number of existing clients who from the very beginning have been using our adherence management services instead of doing it themselves, do have patient adherence over 80%. We really have conclusively proven to ourselves that, you know, if we take over the adherence management, we can get that adherence level to well over 80%. That's certainly, you know, why we're doing this work and why we will continue to move forward with the existing clients, securing those permissions and starting to roll out adherence management to all of the existing clients. We expect to have all of those existing clients migrated over to Reliq Managed Adherence by the end of the fiscal year. A couple months from now, June 30, 2023. All new clients, so anyone who signed the updated 2023 contracts, those mandate the use of our adherence management service, and all of them are on track to reach that 80% adherence in their patient populations next quarter. They are new clients. A lot of them, you know, are still just getting started in the last month. From what we've seen so far, and based on our history with managing adherence for clients, we expect that very comfortably, we should be able to get them to 80% adherence, again, by the end of the fiscal year, next quarter. Update on accounts receivable. As you know, and many of you know, in 2021, 2022, the company was very accommodating to clients. We recognized that it was necessary to provide flexible payment terms because of the challenges they faced with COVID and the overall market conditions. We did that to demonstrate good faith and to earn a reputation as a real partner to these clients in the healthcare space. Clients in healthcare definitely buy based on reference, so they wanna know that one of their friends has used you and that they're very comfortable with you. You really do need to establish a reputation as a partner. That did result in longer collection times, but we believe it was critical to ensuring the long-term success of the company. As of January 1, 2023, our account managers have been instructed to make collections their top priority, and they will only receive their commissions if collections for their accounts are up to date. We've already seen a significant improvement in collections just over the last two months, and we expect that our accounts receivable will be current by the end of fiscal year 2023. By the end of June, we expect to not have the outstanding accounts receivable associated with software and services. Obviously, as you all hopefully recall, for the hardware purchases where there's a 12-24 month payment plan, you'll still see that accounts receivable line item. That doesn't mean that those are overdue payments. That means, you know, the payment plan is reflected as an accounts receivable, but, and those are the longer-term accounts receivable, not the current accounts receivable. That's a little bit more clearly delineated in our financial statements since the audited financials when the auditors helped us make those changes. Shareholder FAQs. We just have a few here today. One of the FAQs that our IR team was shared with me that I hadn't realized was a frequently asked question is how long are patients typically on the iUGO Care platform? This is a platform that once you're on it for your chronic diseases, they're very unlikely to spontaneously resolve. What that means is that these patients are typically on the platform for the rest of their lives. Once you're on, you're on. For some patients, the rest of their lives, given that these are elderly patients and they do have multiple very complex clinical conditions, for some of them they may have a relatively short lifespan, one to two years after they're onboarded. For many patients it's expected to be a 10-15 year period that they'll be on the platform. For each of our clients, so for each of our clinicians or skilled nursing facilities or at-home health agencies, physician practices, typically 5% of their patients will pass away in a given year. At the same time, they'll have an increase of 13% in the number of patients who are eligible to receive our services and eligible for the clinician to bill for them. That's really because the population is aging and growing. Every year you have more patients aging into the demographic where they are eligible to receive our services. As a result, the net effect is that for every client we have on the platform, we see an average of an 8% increase in the number of patients that are on the platform from that client every year. Even though we do see some loss of patients. As they pass away, the net impact is an overall increase in the number of patients per client. Dilution. I know we've talked about this quite a bit, but it does come up consistently, so I'll just reiterate. We have turned our focus to account management. Collections are expected to ramp up very significantly between now and the end of the year and then stay current. Beyond that, revenue is also expected to ramp up very significantly this year. We expect that we'll be generating very significant free cash by, you know, late 2023 calendar. As a result, within that timeframe, we expect to initiate a share buyback program. That's to mitigate the dilution incurred in recent years. You know, we certainly did leverage stock options when appropriate for consultants so that we were able to preserve cash rather than having to do a raise with warrants and some of the other sort of hooks that come along sometimes with a capital raise. This also really has given us great alignment with our consultants where, you know, they're very, very motivated to ensure that the company succeeds and continues to grow very rapidly. That's been very successful for us. Obviously, you know, we as management, our staff, our consultants, our investors, we all would like to see some mitigation of that dilution, and we expect to achieve that through a share buyback program that we'll implement later this year. Upcoming webinar dates. I'd mentioned in January that we want to have a touch point at least every month with our shareholders. We'll be holding a webinar on April 12th, 2023. We'll provide more details closer to the date. That will just be to provide an interim update on progress. Hopefully by that point, and I know we probably won't be completely finished closing out the current quarter, but, you know, hopefully we'll have some firm numbers that I can share at least approximations of to give you a little bit more insight into the progress we're making on accounts receivable and time to adherence. The quarterly financials for the quarter ending March 31st are due to be filed on or before May 30th, 2023. The quarterly webinar to discuss earnings will be scheduled on or before May 31st, 2023. Thank you very much for joining us. This webinar will be posted on our website shortly. If you have any questions, please feel free to contact ir@reliqhealth.com, and we will work on getting those addressed as quickly as possible. Thanks again. Take care. I hope everyone has a wonderful rest of your day.