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 O’Neill sees WHSI overcoming logistics headwinds, achieving triple digit growth and creating revenue of $2,650,000 in FY2023
“The volume numbers seem reasonable,” says O’Neill. “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
O’Neill 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. “WHSI’s 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:
WHSI’s Track Record In PERS Market
Its iHelp MAX™4G 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 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 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.
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