EQS News: RazorPitch/WHSI
Research Firm Litchfield Hills Reiterates Its Buy Rating On Wearable Health Solutions, Inc. (OTCMKTS: WHSI) With a 20 cent Price Target.
14.11.2022 / 11:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
Research firm Litchfield Hills Research reiterates its Buy Rating and $0.20 price target on Wearable Health Solutions, Inc. (OTCMKTS: WHSI) in its newest November 2, 2022 Report. Analyst Theodore ONeill sees WHSI overcoming logistics headwinds, achieving triple digit growth and creating revenue of $2,650,000 in FY2023
The volume numbers seem reasonable, says ONeill. We plan to update reports quarterly. A buy rating implies an expectation that the stock is anticipated to provide a total return of 15% or more within a 12-month period, Litchfield Hills Research says.
Investors can review the research report by clicking this link http://www.hillsresearch.com/wp-content/uploads/2022/06/WHSI-Initiation-2.pdf
We find this to be an interesting product for silver medical care online, he concludes. There are a growing number of internet savvy older people who wish to remain at home not in nursing homes.
Technology Growth Of iHelp4GMAX And Web-Based Platform
ONeill sees a short-term $75K shortfall in volume in Q4FY2022 due to logistics and supply chain issues. But he also views those as being overcome by Wearable Health Solutions, Inc. (OTCMKTS:WHSI) and the increasing internet knowledge of an elderly population.
As a result, WHSI is viewed as already selling and building inventory of its iHelp4GMAX Personal Care pendant device and is seen as a next-generation unit. It is perceived to be telehealth ready along with its platform which can be plugged into numerous other devices to enable remote monitoring and data collection of essential vital signs in real time. Its IoT backend platform is a cloud-hosted service. The result is state of the art remote patient monitoring.
Triple Digit Volume Growth Ahead For WHSI
Litchfield Hills Research initiated coverage of WHSI with a buy rating and a $0.20 price target. That target is based partially on Litchfield’s assumption of a WHSI break-even by FY 2024 and remaining profitable. WHSIs iHelp4GMAX is being introduced and appears to us to be one of, if not the most, advanced medical monitoring system on the market. It connects through WIFI, Bluetooth and 4G and can be used from nearly anywhere, Litchfield Hills says.
If it becomes profitable, this is a milestone. I don’t think they need to raise more money now But if they need to do so 12-24 months from now, it would be to raise more money to build even more units in the future, he projects.
We consider FY22 to be a transitional year as the company introduces its new products. We expected FY22 revenue to be below FY21, however we are forecasting triple digit growth in FY23. It would then reach an estimated $2,650,000 or 153% per annum YOY growth, Litchfield concludes.
Addressing Opportunities in the Future
WHSI is now balancing its sales to two markets: dealers and end-users. It is now heavily concentrated on selling dealers, but has made significant strides in the past year, especially using social media, to balance these streams out.
In its new 10K filing, WHSI reported 2022 hardware revenue of $134,045 and service revenue of $911,845. In 2021, those streams had been $399,602 for hardware revenue and $994,547 for service. In the future, WHSI is working to level those streams out and achieve sharply higher margins as more end user sales are made.
The PERS Market Is Moving In The Right Direction
WHSI sees these positive moves in the PERS Market:
- According to UN statistics, by 2060 the worldwide population will have aged to over 75 to 61.6%.
- 90% of seniors say they intend to remain in their homes for the next 5-10 years.
- According to market research, three million Americans aged 65 and older are treated for falls annually
- The core offering solution for all these issues is 24/7 monitoring. These include end user portal monitoring, call triage and telemedicine.
- At just a 12.4% penetration of the market today of ages 70 and older, this is a marketplace with plenty of room to grow forward in the future, Research shows.
WHSI’s Track Record In PERS Market
Its iHelp MAX4G pendant device is seen as a next-generation unit to be telehealth ready along with its platform which can be plugged into numerous other devices to enable remote monitoring and data collection of essential vital signs in real time. Its IoT backend platform is a cloud-hosted service. The result is state of the art remote patient monitoring
- WHSI’s own investors deck shows it has served 8,500 end users as of October 2022. This includes a current order book of some 2,000+ potential activations.
- WHSI sees the PERS market as highly fragmented and highly competitive. It is bullish and seeks some 5,000 new devices to feed the marketplace.
WHSI’s high-tech new iHelp MAX 4G device is built for dual-action entry into a low-penetration, fast-growth marketplace of dealers and end-users. Overriding global logistics concerns, WHSI now has proper inventory levels to sell into the market of this state-of-the-art device. Its newest 10K shows this is a company able to de-lever its debt loans and payables and is ready to grow. The new report by Litchfield Hills Research recommends a Buy rating. The market is positive and WHSI is using both social media and its established contacts with an established network of dealers and end users to grow.
Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors with a safe harbor in relation to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, assumptions of future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor investment may be lost or due to the speculative nature of the companies profiled. RazorPitch Inc. responsible for the production and distributions of this content. RazorPitch is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be understood that under no circumstances does any information published in represent a recommendation to buy or sell a security. RazorPitch authors, contributors, or its agents may be compensated for preparing research, video graphics, and editorial content. RazorPitch is compensated three thousand dollars monthly via wire transfer by Wearable Health Solutions Inc to produce and syndicate content related to WHSI. As part of that content, readers, subscribers, and webs are expected to read the full disclaimers and financial disclosures statement that can be found on our website.
News Source: News Direct
14.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com