Wearable Health Solutions, Inc. (OTCMKTS: WHSI) filed an amended Form 10 with the SEC this week. It reaffirms its projected $5.87 million sales guidance for the full year 2022.

WHSI REAFFIRMS ITS $5.87 MM GUIDANCE FOR 2022

It is part of 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.

Harrysen Mittler, Chairman and CEO of WHSI, says "Form 10 includes the required two years financial audit."

WHSI FORM 10 HIGHLIGHTS

-WHSI is forecasting sales of $5.87 million for the full year 2022. That compares to $1,394,149 actual in the prior year.

-Estimated sales of $2,365,800 for 4G Hardware devices in 2022. In 2021, it only received $399,602 for 3G hardware.

-Based on that sales total, it would receive a projected $2,306,648 for SIM Card/Portal Fee/Data recurring revenue from the monitoring and fees related to these devices.

-Plus, it projects it would receive new revenue of $1,200,000 for its IoT Platform RPM. It received nothing in this sector in 2021.

-Projected sales for full year 2022 is $5.87 million. By comparison, WHSI reported FY 2021 actual sales of $1,394,149, the newly amended Form 10 says.

Form 10 also offers a snapshot of WHSI's operations. WHSI gained $2,020,800 in cash flow via financing activities.

As of June 30, 2021, the Company reported:

-WHSI sharply reduced its net loss to $3,316,006 for the year ended June 30, 2021 vs. $4,356,638 for the same period in 2020

-Net increase in cash in 2021 to $847,430 - compared to $0 one year prior

-Reduced G&A expenses of $3,686,379 for FY end June 30, 2021. They had been $4,722,702 the prior fiscal year

-Higher current assets of $907,806 in 2021 compared to $146,101 in 2020

-Current liabilities of $4,258,106 in 2021

-Total working capital flat at ($3,350,300) in 2021 compared to ($3,356,295) one year prior.

WHSI 'TELEHEALTH-READY'

-WHSI reported that it is an emerging company in its Form 10. It is introducing new, more sophisticated technology in its 'smart' devices. It is a telehealth-ready company. It is also focused on developing its Next Generation Platform which will add updates and upgrades to it iHelp device.

The 4G iHelp MAX scheduled to launch early this year is a state-of-the-art technical device. As all 3G devices are phased out by telecommunications providers starting this month, 4G is the newest technology.

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.

WHSI 'NOW SUFFICIENTLY CAPITALIZED'

"With the Company now sufficiently capitalized we are poised to increase inventories for our next generation of Personal Emergency Response Systems (PERS) devices ready for sales launch in early 2022," says Harrysen Mittler, Chairman and CEO. "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."

Mittler says the Company is now fully funded for the 4G iHelp MAX launch through its $5 million fund raising Reg. A.

WHSI UPLISTING

"Once our Form 10 Registration Statement is effective, we will consider an up listing 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," he concluded.

The Form 10 filing is subject to SEC review and, upon its effectiveness, the Company will be subject to the reporting requirements of the Exchange Act.

WHSI will begin filing annual reports with the SEC on form 10-K, quarterly reports on form 10-Q and current reports on form 8-K. Other reports will be filed for other financial activities as well, it stated.

WHSI'S 'NEXT GEN' INT'L DEALER NETWORKS

WHSI is anticipating that it may open 'next generation' dealer networks in Australia, Brazil, UK and the EU.

An analysis of WHSI's Form 10 shows for the FY ended June 30, 2021, WHSI had a sharply stronger balance sheet. It had higher operating revenues, more cash on hand and an increase in cash flow provided by financing activities.

WHSI also cut its general and administrative expenses (G&A) for the year ended June 30, 2021, reducing its net loss for 2021 compared to 2020.

New telecommunications will be driving its projected 2022 sales. The key investment catalyst for WHSI is a larger market share in several soaring remote monitoring markets employing the newest technology. They include artificial intelligence (AI), Blue Tooth, Backend As A Service (Baas), IoT, Wi-Fi, Central Cloud Management and 4G telecommunications.

Operating revenues for WHSI were $1,394,149 for the year ended June 30, 2021, an increase from the $1,163,337 for the comparable period the previous year.

It also reported its net loss for FY ended June 30, 2021 was $3,316,006, sharply lower than the $4,356,638 for the same period in 2020.

COMING SOON: 4G iHelp MAX(TM)

One of its newest products with sophisticated technology is its iHelp MAX(TM) 4G. It is currently in the testing and production phase. It features Wi-Fi, NFC (wireless data transfer) technology and Bluetooth 4.0 Low Energy features.

It also offers "telehealth-ready" advantages such as remote monitoring and transmission of the user's health vitals to emergency personnel and caregivers.

It will offer GPS tracking services plus remote patient monitoring (RPM). It will have body mounted sensors and artificial intelligence (AI). Fall detection and geofencing are other features included.

The iHelp Next Generation Platform (NGP) would monitor in real time medical vitals, such as blood pressure and oxygen levels.

15 MONITORING STATIONS

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, visit wearablehealthsolutions.com.

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