|1||Office sharing addresses a clear unmet need in medical real estate. Potential market >$900M in US.|
|2||The founders are doctors and successful entrepreneurs with 30 years of real estate experience.|
|3||From concept to first location with 7 clients (and growing) in 9 months, despite pandemic.|
|4||Covered in 5 local and national business publications.|
|5||Demand boom likely in 6 months, as vaccination takes hold.|
|6||Unique fusion of real estate and digital platform positions us for dramatic growth.|
Healthcare co-sharing is not only a great idea but I believe the team at MedCoShare is the right team to execute on this idea and take it nationwide. They've been able to attract clients during a pandemic and once a majority of the people get a vaccine this idea will grow exponentially. I see healthcare co-sharing disrupting the medical real estate industry and done properly can have a profound impact on launching private practices in the U.S. I'm excited to invest in this round!
MedCoShare Inc. has financial statements ending September 30 2020. Our cash in hand is $45,856.79, as of November 2020. Over the three months prior, revenues averaged $2,798.58/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $14,731.06/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
We allow doctors and other healthcare providers to rent space to see patients on flexible terms (part-time or short-term), with all basic utilities and support provided, so they can practice independently, on their own terms.
In 5 years, we hope to expand to numerous locations in cities across the US, and provide premium support services in addition to the basic space, to make independent practice a viable option for more healthcare providers. We also plan to build a platform to connect practices that have extra space to providers who need space. These projections cannot be guaranteed.
MedCoShare Inc. was incorporated in the State of Delaware in July 2019.
Since then, we have:
Historical Results of Operations
Our company was organized in July 2019 and has limited operations upon which prospective investors may base an evaluation of its performance.
Related Party Transaction
Refer to Question 26 of this Form C for disclosure of all related party transactions.
Liquidity & Capital Resources
To-date, the company has been financed with $100,000 in equity and $100,000 in SAFEs.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 6 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 6 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
MedCoShare Inc. cash in hand is $45,856.79, as of November 2020. Over the last three months, revenues have averaged $2,798.58/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $14,731.06/month, for an average burn rate of $11,932.48 per month. Our intent is to be profitable in 12 months.
We added two clients to our roster. One in October and another one in November. We project signing up 1-2 clients per month until capacity is reached based on our sales pipeline.
Adding a new location is estimated to cost $250,000-$300,000. If we only raise our minimum target in this offering, we will go on to solicit accredited investors in our network.
We expect expenses to stay in line with the last 3 months due to fixed costs. Expenses may increase slightly due to some variable costs that increase with more clients such as cleaning services, electric, etc. The revenue we project to increase 10% per month over the next 6 months due to increasing demand based on our sales pipeline and market conditions. We estimate that comes to $25,000 in monthly revenues and $15,000 in monthly expenses 6 months from now. These projections cannot be guaranteed.
Founders are willing to place additional funds into business if the bank balance goes below $10,000.
The effects of Covid-19 can lead to a tapered demand from healthcare practitioners seeking space and the customers they serve.
The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company’s assets or profits and have no voting rights or ability to direct the Company or its actions.
Anthony Khan, Amit Mundade, and Gregory Goldmacher are part-time officers. As such, it is likely that the company will not make the same progress as it would if that were not the case.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
Government shutdowns due to Covid-19 can cause a loss of current clients as well as the inability to get new ones.
Our customers may prefer complete control of the space and thus lease from other landlords.
It may take longer to get the customers we seek thereby accelerating our burn rate and forcing us to use funds for operations vs. growth.
Our first few hires will be critical. Hiring a social media marketing expert as well as a tech developer will be crucial since our team does not have expertise in these domains.
With office space vacancy rising due to work from home trends it will be cheaper for clients to rent from landlords thus placing a downward force on our prices.
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