Welcome to the Reliq corporate update. Today is Thursday, August 29th, 2024, 12:00 P.M. Eastern Standard Time, 9:00 A.M. Pacific Standard Time. My name is Chris Shields, and I'm the CEO of Reliq Health Technologies. Please review the forward-looking statement at your leisure. I'd also like to note that Reliq's audited annual financial statements for fiscal year 2023 and quarterly financial statements for fiscal year 2024 have not been filed at this time. The company is currently under a Cease Trade Order. Today's webinar is solely intended to provide an informal interim update on progress since the last webinar, while the company and the auditors are engaged in the completion of the annual audited financial statements. The agenda for today's webinar will include Reliq's recent move to the NEX Exchange, fiscal year 2024 highlights, outlook for fiscal year 2024, shareholder FAQs, and dates for future webinars. For those of you who are less familiar with Reliq Health Technologies, Reliq is a growing health tech company that develops innovative virtual care SaaS solutions and services for the multi-billion-dollar healthcare market. Reliq's 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. The company generates recurring revenue and organic growth from subscriptions and services. We've been able to generate strong long-term margins of 70% gross margin and 40% EBITDA margins, which are expected in 2025. The company has achieved several profitable quarters over the last few years, and the company expects to continue growing clients, patients. Reliq's iUGO Care platform has many benefits for patients and providers. For patients, we provide... We improve health outcomes, reduce hospitalizations by over 80%, enhance the quality of life. For providers, we can create new revenue streams, avoid financial penalties, and the average physician practice can generate new revenue of over $400 per patient per month from CMS by implementing iUGO Care. Clinicians pay anywhere from $40-$100 per patient per month, depending on the number of services patients are using. As many of you know, Reliq recently moved to the NEX Exchange. NEX is a separate board of the TSX Venture Exchange. It provides a trading forum for listed companies that have fallen below the TSX Venture's ongoing listing standards. Reliq moved from the TSX Venture to the NEX at market open on Tuesday, August 20th, 2024. Upon transfer of its listing to NEX, the trading symbol of the company's common shares changed from RHT to RHT.H. There will be no change in the company's name, CUSIP number, or ISIN number. Trading in the shares of the company will remain suspended until the company comes back into good standing with the Securities Commission and with its continuous disclosure obligations, at which time the company can reapply for reactivation of its listing on the TSXV. Fiscal year 2024 highlights. This is just a summary of some of the highlights, as you can go back and read many of our press releases over the past year and a half, for a full listing of all of the highlights. But on average, the company, as we've previously disclosed, has about, adds about a physician practice a week and has expanded into respiratory therapy and pediatric monitoring. We signed a contract with a leading U.S. healthcare company with 75 locations in eight states. This client provides integrated services across the continuum of care, including skilled nursing, rehabilitation, dialysis, long-term care, memory care, and home health. We also had an expansion of one of our larger contracts from last year with a large U.S. health plan that operates accountable care organizations in five states, with more than three thousand doctors and over a million overall patients. We also expanded a contract with another U.S. large healthcare group from Florida into their main home operating state of Pennsylvania. This client provides services to over 80,000 patients. We've also announced the expansion of our mental health services to existing skilled nursing and assisted living facilities that add cognitive health assessments to existing behavioral health integration services. There are a number of trends and tailwinds that have occurred over the last few years for telehealth services, and they continue, will continue into 2025. As the population ages and grows in the U.S., the number of chronic disease patients is steadily increasing. CMS has introduced financial penalties for facilities and clinicians whose chronic disease patients are hospitalized with preventable complications. Since 2018, CMS has increased reimbursement amounts for virtual care by over 600% and added 22 new billing codes relevant to Reliq. About 90% of the $4.1 trillion healthcare expenditure in the U.S. is attributable to managing and treating chronic diseases and mental health conditions. The implementation of virtual care programs for chronic disease patients is projected to save CMS tens of billions of dollars per year. The AMA and the U.S. Congress are both considering additions to the existing RPM program that would add new CPT codes for anywhere from two to 15 readings and 10 minutes of care management time. This will increase patient adherence and billing. The current codes cover 16 or more readings in a month and 20 or more minutes of care management time. CMS is also aligning the RHC-RPM codes for rural health clinics with the full codes used by physician practices. This will allow for wider rollout of RPM at rural health clinics. Rural health clinics were allowed to use RPM codes in 2024, but the codes were combined with the codes that they had been using existing for chronic care management. There was a lot of confusion over how many times those additional codes, those codes could be billed for the additional services. This new aligning of RPM codes for the rural health clinics with the same codes used by physician practices will allow the rural health clinics to feel much more comfortable in rolling out the services. Reliq currently has several thousand patients in rural health clinics, and so this will, you know, provide significant new revenue in 2025. 2025 key deliverables for the company. You know, as we've stated in a number of press releases over the last six or eight months, filing our financial statements has been our number one priority. As we move forward, filing financial statements on time is our key deliverable for fiscal year 2024. Also, improving our corporate communications with regular press releases and webinars is another key deliverable. We expect as soon as we are able to file our financial statements for fiscal year 2023 and our missing quarterly statements for fiscal year 2024, we'll reapply for trading on the TSX, and our goal is to resume trading there as quick as possible. From what our securities lawyers tell us, it could be as short as a month once the cease trade order is lifted and we reapply for reinstatement in the TSX Venture. Our real focus in 2025 is on profitability and cash collection. Not that we weren't focused on those two items during our previous fiscal years, but we did spend a lot of time and effort on developing our, you know, software product, making sure we had the best technology in the market, as well as growing our market share, and adding a whole range of different client types from skilled nursing facilities to assisted living facilities, to physician practices, to ACOs, to home health agencies, so we've spent a lot of time and effort over the last few years really developing the market, and going forward, we're really gonna focus on profitability and cash collection over, you know, additional growth. We currently have over 500,000 eligible patients currently under contract. The goal is to convert as many of those into billable patients and generate cash, while at the same time controlling costs and bringing down costs where possible. As we've stated in the past, increasing the available information to shareholders on which of our patients are eligible, which are onboarded, and which are billable, is really a key metric that we intend to continue improving on and delivering on in fiscal year 2025. Improving and providing that information will really start once we file our financial statements. We'll in those webinars for each of those financial statements, we will have information on eligible, onboarded, and billable patients. As I said earlier, we've been working on a new version of our iUGO Care. We expect to launch it in fiscal year 2025. The next version of the software adds significant functionality and capabilities for our clients and is built to meet healthcare interoperability standards. The most exciting part of the new software for me is it requires little to no development resources for updates and customization, which will result in faster rollouts and reduced operational costs, especially as we roll it out to different types of clients and payers that require different modules and different setups. We'll really be able to do that from an administrative standpoint and not from a development standpoint. In addition to those deliverables, we have a number of plans that we're focused on for fiscal year 2025. We'll continue to add a physician practice every month and continue expansion into additional U.S. states. We'll increase the percentage of patients receiving mental health services. We'll grow existing geographies and services for the four large U.S. health plans and groups that we've already signed, and two of them we've already expanded contracts. We'll focus growth exit activities on skilled nursing facilities, assisted living facilities, and independent living facilities, and the reason we're gonna focus our growth activities on those is we generate much higher revenue per patient in those facilities and much higher adherence levels. We'll also begin to define our AI and machine learning product roadmap. I'll get into a little bit more in some of the FAQs about where we see AI and machine learning going. We had a number of questions come in over the last year, some of them that are recurring from, you know, previous webinars in previous years, so I thought it would be good to address some of those. I know the number one, you know, question from shareholders is, when are the financials going to be released? I can't give a date today, but I expect to provide a date, shortly. And as we've said, as soon as we have a date, for when the financials will be released, we will announce that to the market. So one of the questions we get, on a regular basis is how long do we retain patients, and what's the attrition rate of our patients? Patients added to the iUGO Care platform are typically on for the remainder of their lives, which could be years to decades. On average, 5% of all patients on the platform will die from their underlying health conditions each year, but each client will generally add an additional 13% to new patients. Reliq net gain in patient count is, on average, about 8% per year for existing clients. Why doesn't Reliq provide services in Canada? Unlike the U.S., Canada does not have billing codes that support remote patient monitoring, chronic care management, behavioral health integration, so there's little incentive for clinicians to provide these services to patients. Why did it take so long for the company to address the adherence issue? We discussed this over the last year. Deployments are staged with a small number of patients onboarded at first, meaning trends don't really appear for months until subsequent stages and larger patient numbers are added. Once the adherence issue was identified, clients still wanted a chance to manage the process themselves. But since January of 2023, we have moved all clients to Reliq managing adherence, and we've been slowly improving those numbers. That's something that in future webinars, we'll get into more detail about adherence levels and how that impacts our billable patients. What are the cost savings to larger organizations? Clients benefit from implementing Reliq solutions by generating new revenue, improving quality metrics, including reducing hospitalizations, improving patient satisfaction, and reducing costs. For skilled nursing facility, the cost savings can involve avoiding a clawback of 6% of revenue by CMS, but overall, savings depend on the organization and care setting, but large networks can save millions of dollars by deploying Reliq iUGO Care services. How does the use of AI impact Reliq business? Reliq platform can leverage AI in a variety of ways, depending on the client needs. We can identify patients at risk of falls, cardiac or respiratory events, depression. We can determine the best treatment plans for patients with multiple chronic illnesses. We can assist care managers with optimizing adherence, communication, and prioritizing patients for follow-up. We can autofill complex patient documents, and ultimately, something like ChatGPT could be used to provide some intellectual stimulation and virtual companionship to patients in the home once that technology is more predictable. How many skilled nursing patients continue with services after the first thirty days post-discharge? The majority of patients will continue to receive virtual care services through iUGO after the first thirty days of post-discharge from a skilled nursing facility. The whole key to our virtual service model is that we follow the patient through all the stages of their care. So these chronically ill patients will go through being at home or assisted living facility, to going into the hospital, to going to a skilled nursing facility, to going back to an assisted living to home. Over the course of, you know, five or ten years of being chronically ill with multiple comorbidities, that cycle can repeat multiple times. What our virtual care services can do is we can keep all of their care team involved and aware of their status in each of those different facilities that they're at or whether they're at home or they've been into the hospital or in a skilled nursing facility. The beauty of it is not only do their whole care team know the status of that patient at any one time, but they never lose track of that patient. Generally, if we have a care team that includes a physician practice, a specialist, specific home health, a specific skilled nursing facility, the data that we collect, we share with all of them. And so each of them, even if they're not directly treating that patient at any one time, once that patient comes into their care, they can go back and look at the data from the last few months or the last few years and really provide the best treatment for that patient. Are patients in the skilled nursing facility for rehab after something like an orthopedic surgery, still eligible for Reliq services? Yes, many of those patients would be eligible for remote therapeutic monitoring, but the majority of those patients also have high blood pressure and diabetes, and managing those conditions in the home post-surgery has a significant positive impact on healing and return to mobility. Our platform can also be used to virtually assess incision sites for signs of infection and track wound healing and monitor medication use. What is adherence versus compliance? Compliance is a broad term that covers the degree to which a patient is following his or her physician's instructions with respect to monitoring their vitals, taking their medications, performing prescribed rehab exercises. Reliq uses adherence to refer specifically to whether or not a patient is collecting their vital signs at least 16 days out of the month in 20 minutes of care management time, so that they're eligible to receive Reliq services from the clinician, and Reliq is able to bill the clinician for the use of iUGO Care in delivering those services. Does Reliq generate additional revenue for managing adherence? Yes. Under the current care management, billing codes, contacting patients to discuss their adherence is billable. How are skilled nursing and assisted living deployments going so far? Reliq has reduced readmissions and hospitalizations within 60 days of discharge for any patients that are being managed by Reliq staff by over 90%. In most cases, we've kept post-discharge patients out of the hospital for at least six months. Skilled nursing facilities and assisted living generate an average of two times the reimbursement per patient, compared to physician practices and are at least greater than 70% adherence. Why does the company put out news to online investor sites instead of by press release? The company will press release any material news. Investor sites receive the same information that would be provided to anyone who sends a request into investor relations. So if a particular online publication or a blog requests information from the company that's publicly available, we'll provide that information in summary format, sometimes in a long format, to answer all of their questions. But it's the same information we would provide to any individual investor who asks the same questions. I'd like to go over the future webinars. We expect to have a number of webinars over the next few months. The exact dates to be determined. We'll have another webinar after the fiscal year 2023 annual audited financials are filed. We'll have a webinar after the fiscal year 2024 quarterly financials are filed. We'll have a third webinar after the 2024 annual audited financials are filed, which we expect to file on time at the end of October. And then we'll have another webinar after the fiscal year 2024 Q1 financials are filed, which we expect to file at the end of November, and have a webinar following up after that.