Wearable Health Solutions, Inc. (OTCMKTS: WHSI) Announces Asset Increase in New Filing
Wearable Health Solutions, Inc. WHSI has filed Amendment 3 to its Form 10 with the SEC. A leader in the remote patient monitoring market, WHSI recorded unaudited revenue of $302,872 for its quarter ended September 30, 2021 compared to $362,653 for the comparable period in 2020. Its balance sheet was stronger at 1,752 $795 in cash and cash equivalents compared to $847,430 for the 6/30/21 period.
Total WHSI Assets Increase, Dealer Portal Assets Added
The strengthened balance sheet also shows more total current assets in the last quarter of $1,814,395 from $907,806. For the first time, WHSI listed $49,151 for the three months ended September 30, 2021 for Dealer Portal assets versus $0 the prior period. In the last quarter, WHSI said it spent $149,000 on R&D expenses and $93,477 on software expenses. These relate to the ramp-up period of its new high-tech 4G iHelpMAX™ telehealth-ready device that it plans to introduce.
why is it important
WHSI stock should be on your watch list as the company’s catalyst is the new 4G iHelpMAX™ which will be launched in 2022. The company indicates in the new Amendment 3 to Form 10 that it will debut in the third quarter of its 2022 fiscal year ending June 30. 2022.
Its track record shows that WHSI is investing in R&D, exclusive and proprietary software and a new cloud-based portal for its 4G remote monitoring device. It competes in the highly lucrative Personal Emergency Response Systems (PERS). It is a $23.3 billion remote patient operating (RPM) market. Research firm MarketsAndMarkets forecasts this market to grow at a CAGR of 38.2% to reach $117 billion by 2025.
WHSI is positioning itself for a leading 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 now integrates the latest technology, such as voice artificial intelligence (AI), into its existing smart products. Service (Baas) and more.
A pivot to launch 4G iHelp MAX™ in 2022
Here’s how WHSI is preparing to launch the 4G iHelpMAX™ unit:
— Marc Cayle, Vice President, says, “In 2022, our goal is to have 20,000 iHelp MAX 4G units sold in the market,” says Cayle. “By the end of this month (March), we are showing demo units to our dealer network. We show how they offer calling integration with Alexa and Google. It’s easy for users to work with.
– Harrysen Mittler, President and CEO, says WHSI is fully funding the launch of the 4G iHelp MAX™ with its $5 million raised by Reg. A.
“In addition, we are paying down some corporate debt and hiring additional staff to help us bring our next generation of technologies and products to market globally.”
– WHSI’s strategy to become a fully SEC reporting company and listed on another trading exchange. The objective: increased visibility with the community of financial investors. It also means increased access to capital markets.
– Mittler adds, “Once our Form 10 registration statement is effective, we will consider listing on a broader exchange which could expand our exposure to institutional investors, fund managers, family office funds, to brokers and other investors, which is an important step in the progression of our business.
Vital telehealth data fed into a portal
– WHSI will offer more telehealth functionality in the future through devices such as the iHelp Next Generation (NGP) platform. A biosensor under development will feed a portal with vital telehealth data. It will allow health professionals to see indicators such as temperature, heart rate, pulse, blood pressure (wrists), blood sugar monitoring, etc.
— iHelp MAX™ 4G integrates Wi-Fi, NFC (wireless data transfer) and Bluetooth 4.0 Low Energy technologies.
— WHSI will ensure the visibility of its new product with its “Kathy Ireland Connection” with 650,000 impressions to an audience of 80 million people worldwide. The goal is for WHSI to reach hundreds of thousands of impressions. These will include news, social media and business media to talk about this product and its features.
WHSI plans “next generation” international dealer networks
WHSI plans to open next-generation dealer networks in Australia, Brazil, the United Kingdom and the European Union.
WHSI is a multiple revenue stream company. It sells high-tech wearables and body sensors internationally. It also operates a subsidiary, Medical Alarm Concepts LLC (MAC), which works with about 15 monitoring stations, WHSI says in its filing with the SEC.
Keep WHSI stock on your watch list as it incorporates technology into its increasingly sophisticated monitoring products. It competes in several dynamic growth remote monitoring markets. For more information, visit wearablehealthsolutions.com
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