InvestmentPitch Media Video Discusses Reliq Health’s Shares Being Targeted by Known Short Seller
19 April 2022 - 8:00PM
Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF)
(FSE:MHN2), a rapidly growing global telemedicine company
developing innovative Virtual Care solutions for the
multibillion-dollar Healthcare market, has been targeted by a known
short seller.
A Media Snippet accompanying this announcement is available by
clicking on the image or link below:
For more information, please view the
InvestmentPitch Media video which provides additional information
about this news and the company, along with video comments from Dr.
Lisa Crossley. The video is available for viewing on
“InvestmentPitch” and on
“YouTube”. If these links are not
enabled, please visit www.InvestmentPitch.com and
enter “Reliq” in the search box.
The April 14th report, as expected, contains the
usual defamatory, misleading and demonstrably false statements and
conspiracy theories, which Reliq Health’s management believes were
intended to negatively impact the company’s share price. The short
position for Reliq Health’s shares has increased substantially in
the weeks leading up to the April 14th report, with the reported
short position currently exceeding 5 million shares.
A recent article in Bloomberg stated that, “The
Justice Department is collecting a trove of information on dozens
of investment firms and researchers engaged in short selling as
part of a sweeping U.S. hunt for potential trading abuses,
according to people with knowledge of the matter.” Reliq Health,
through its attorneys, intends to submit evidence of the report’s
multiple false and misleading claims to the DOJ to aid the ongoing
investigation.
As Dr. Crossley mentioned in today’s news release,
“As disclosed in our SEDAR filings, over the past four quarters
reported Reliq grew quarterly revenues by over 494% and increased
gross margins from 43% to over 74%. When Reliq first entered the
market in 2017/2018 it had only one product, clients in only one US
state and was able to access only one CMS billing code. Today Reliq
provides software and services to support over 10 CMS programs
leveraging 23 different billing codes and has clients across the
United States, in Puerto Rico and in the US Virgin Islands. Despite
the multiple COVID surges that have heavily impacted the healthcare
space over the past two years, Reliq has successfully grown its
business and expects to have over 200,000 patients on its platform
by mid-2023. This projection is based solely on existing contracts
with current clients who are either already actively onboarding
patients or have recently confirmed their implementation plans for
the next 12-18 months. Driven by the significant increases by
Medicare and Medicaid in reimbursements for virtual care programs
and in program scope, the Company continues to anticipate rapid
growth through 2022 and beyond.”
Based in Hamilton, Ontario, with offices in
Florida and Texas, Reliq specializes in developing innovative
Virtual Care solutions for the multi-billion dollar healthcare
market. The company’s powerful iUGO Care technology platform is a
comprehensive SaaS solution that allows complex patients to receive
high-quality care at home, improving health outcomes, enhancing the
quality of life for patients and families, and reducing the cost of
care delivery. iUGO Care provides real-time access to remote
patient monitoring data, allowing for timely interventions by the
care team to prevent costly hospital readmissions and emergency
room visits.
The shares are trading at $0.72. For more
information, please visit the company’s website,
www.ReliqHealth.com or email IR@ReliqHealth.com. Investor Relations
in the United States is handled by Ben Shamsian of Lytham Partners,
who can be reached at 649-829-9701 or by email at
shamsian@LythamPartners.com.
Disclaimer
The information in this InvestmentPitch Media Ltd
video is for the viewers information only. Reliq Health
Technologies has paid a fee not exceeding $2,000 in cash to have
its current news release produced in video format. The corporate
information is based on information that is publicly available. Any
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