VANCOUVER, BC / ACCESS Newswire / April 29, 2025 / UniDoc Health Corp. (CSE:UDOC)(FRA:L7T)(OTCQB:UDOCF) ("UniDoc" or the "Company"), provides an update on its renewed engagement of Rumble Strip Media Inc. ("Rumble").
Further to the Company's news release of April 3, 2025, the Company believes that its renewed engagement of Rumble is in compliance with Policy 7.2 of the Canadian Securities Exchange (the "CSE") as the Company believes that the renewed engagement of Rumble is consistent with its financial resources and level of operations for the reasons outlined herein.
Since its engagement with Rumble started in April 2024, the Company has expended approximately $3.84 million on Rumble's investor relations marketing services. Rumble's services have primarily consisted of the creation of digital landing pages highlighting information about the Company and undertaking digital marketing campaigns to increase potential investor awareness of the Company. The Company's rationale for incurring these marketing expenditures is to maximize its ability to convert outstanding warrants into cash. The Company was successful in this initiative and was able to convert the majority (over 90%) of the outstanding warrants resulting in gross proceeds of approximately $8.8 million.
While the Company has begun commercial sales, and expects to increase its marketing budget for product awareness in the coming periods, the Company is not yet cashflow positive and cannot sustain operations from revenue alone. Since inception, it has relied on raising funds through the issuance of equity and exercise of in-the-money warrants, and will need to continue to do so going forward. The Company has raised a total of approximately $3.7 million from private placements and a further $9.7 million from the exercise of convertible securities since incorporation in 2021. The Company's ability to continue to raise capital through private placements and convertible securities depends in large part on maintaining liquidity in its stock, which is greatly assisted through undertaking investor awareness campaigns. The majority of the ~8.8 million in funds raised by the Company since Rumble's engagement in April 2024 have gone into, or have been allocated towards, the Company's general and administrative (including office & admin, consulting fees, professional fees and travel & entertainment) (~$1.4 million) and investor relations services (~$3.4 million). While the CEO's and other team members' salaries and travel expenses are not reflected in the financial statements as product marketing, a significant portion is attributable to those activities.
Further, the Company is pleased with its transition from development to sales and is extremely pleased that it expects to report its first revenue in fiscal Q4, which validates the efficacy of its product and buy-in from consumers. To date, the Company has received purchase orders from four separate arm's length end customers for an aggregate of 16 H3 Health Cube booths (two of such purchase orders came through a related party reseller, UniCheck S.r.l.), and has completed delivery of three of these booths. The Company expects to record revenue in Q4 related to two of these booths delivered to its reseller, UniCheck S.r.l. The Company donated the third booth to the end customer, and therefore does not expect to record corresponding revenue.
In light of its increase in operations, commencement of commercial sales, and successful financing activities, the Company believes that its investor relations marketing expenditures are both necessary and proportionate with both its level of operations and financial resources. That notwithstanding, given the natural long sales cycle for procuring and executing on sales in multiple health jurisdictions, there is a lag effect between marketing timing and sales timing that is currently normalizing as purchase are being fulfilled. Management expects investor relations marketing expenditures to significantly decrease and operational expenditures to significantly increase over the coming quarters.
On Behalf of the Board of Directors,
~Antonio Baldassarre~
Antonio Baldassarre
CEO, President & Director
UniDoc Health Corp.
About UniDoc Health Corp. (CSE: UDOC) (FRA: L7T) (OTCQB: UDOCF)
UniDoc is developing an eHealth solution which is being designed as a self-contained remote virtual clinic within a private kiosk for patients to undergo full consultations as if they were present in a physician's office. eHealth opens the doors to a large segment of the population challenged by access, experience or understanding of online computer technology. It is the Company's belief that physical accessibility is the key to its business proposition. UniDoc is dedicated to unlocking shareholder value by delivering an excellent product and sophisticated commercial network within an expedited timeframe. The UniDoc team encourages engagement, questions, and interest, so please stay in touch and invite anyone who might be interested in our story to visit our website at www.unidoctor.comand signup to receive the latest information with updates on our activities, events and progress.
For further information, please contact:
UniDoc Investor Relations
Tel: +1 778.383.6731
Email: info@unidoctor.com
Matt Chatterton, Director
Tel: +1 778.613.2082
Email: matt@unidoctor.com
Media Inquiries media@unidoctor.com
Forward-Looking Statements
This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward- looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as "may", "would", "could", "will", "will be", "likely", "except", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the anticipated effectiveness of Rumble's investor awareness campaigns, the value of such services to the Company, the Company's anticipated future marketing and operational expenditures, and the sales cycles of the Company's products.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company's ability to secure additional financing on reasonable terms; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all; as well as all of the other risks as described in the Company's annual management discussion and analysis dated September 30, 2024 under the heading "Risks Factors." Accordingly, readers should not place undue reliance on any such forward-looking information.
Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward- looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: UniDoc Health Corp.
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