Wearable Health Solutions, Inc. (OTCMKTS: WHSI) filed Amendment 3 to its Form 10 with the SEC. A leader in the remote patient monitoring market, WHSI listed unaudited revenue of $302,872 for its quarter ended September 30, 2021 vs. $362,653 for the comparable period in 2020. Its balance sheet was stronger with $1,752,795 cash and equivalents vs. $847,430 for the 6/30/21 period.
WHSI’s Total Assets Rise, Dealer Portal Assets Added
The strengthened balance sheet also exhibits more total current assets at the latest quarter of $1,814,395 vs. $907,806. For the first time, WHSI listed $49,151 for the quarter ended September 30, 2021 for dealer portal assets vs. $0 the prior period. In the most recent quarter, WHSI says it spent $149,000 for R&D expense and $93,477 for software expense. These are related to the ramp-up period for its new 4G iHelpMAX™ high-tech, telehealth-ready device it is planning to introduce.
Why It Matters
WHSI stock should be on your Watch List because the Company’s catalyst is the new 4G iHelpMAX™ which will launch in 2022. The company says in the new Amendment 3 to Form 10 that it will debut in Q3 of its 2022 fiscal year ending June 30, 2022.
Its balance sheet shows WHSI is investing in R&D, exclusive and proprietary software and a new cloud-based portal for its 4G remote monitoring device. It is competing in the highly lucrative Personal Emergency Response Systems (PERS). This is a $23.3 billion remote patient operating market (RPM). Research firm MarketsAndMarkets projects this market will grow at a CAGR of 38.2% to reach $117 billion by 2025.
WHSI Positioning Itself For Leadership Position In 4G
All 3G telecommunications are being phased out by providers. WHSI is positioning itself for a leadership position in the new 4G. WHSI sells to the growing home security and home healthcare markets. It is now integrating the newest technology, such as voice artificial intelligence (AI), into its existing Smart products.They offer call integration with Alexis and Google, telehealth ready monitoring wearables plus AI, BlueTooth, IoT, Central Cloud Management, Backend As A Service (Baas) and more.
A Pivot To Launch 4G iHelp MAX™ In 2022
Here’s How WHSI Is Getting Ready To Launch 4G iHelpMAX™ Unit:
— Marc Cayle, VP, says, “In 2022, our goal is to have 20,000 4G iHelp MAX sold units into the marketplace,” Cayle says. “By the end of this month (March) we are showing demo units to our dealer network. We are showing how they offer call integration with Alexa and Google. It is easy for users to work.”
— Harrysen Mittler, Chairman and CEO, says WHSI is fully funding the launch of the 4G iHelp MAX™ through its successful $5 million raised through Reg. A.
“In addition, we are retiring some corporate debt and hiring additional personnel to assist us in marketing our next generation of technologies and products globally.”
— WHSI’s strategy to become a fully reporting company to the SEC and up list to another trading exchange. The goal: increased visibility to the financial investment community. That also means increased access to the capital markets.
— Mittler adds, “Once our Form 10 Registration Statement is effective, we will consider an uplisting to a broader stock exchange which could expand our exposure to institutional investors, money managers, family office funds, broker-dealers, and other investors which is an important milestone in our corporate progression.”
Telehealth Vitals Fed Into A Portal
— WHSI will deliver more telehealth features in the future through peripherals such as The iHelp Next Generation Platform (NGP). A biosensor being developed now will feed telehealth vitals into a portal. It will enable medical professionals to see indicators such as temperature, heart rate, pulse, blood pressure (cuffs), glucose monitoring, and more,
— iHelp MAX™ 4G features Wi-Fi, NFC (wireless data transfer) technology and Bluetooth 4.0 Low Energy features.
— WHSI will ensure exposure to its new product with its ‘Kathy Ireland Connection’ with 650,000 impressions to an audience of 80 million worldwide globally. The goal is for WHSI to achieve hundreds of thousands of impressions. These will include news, social media and business news outlets to tell about this product and its functionality.
WHSI Plans ‘Next Generation’ International Dealer Networks
WHSI is anticipating that it may open next-generation dealer networks in Australia, Brazil, UK and the European Union.
WHSI is a multiple revenue stream company. It sells high-technology wearable devices and body-mounted sensors internationally. It also operates a subsidiary, Medical Alarm Concepts LLC (MAC), which works with some 15 monitoring stations, WHSI says in its SEC filing.
Keep WHSI stock on your watch list as it integrates technology into its increasingly sophisticated monitoring products. It competes in several dynamic remote monitoring growth markets. For more information, go to wearablehealthsolutions.com
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