|1||We are first to market. Our addressable market is estimated at $180M annually.|
|2||Organizations report that Employee retention and mental health are the top two challenges they are facing today.|
|3||nSightify provides an online community for providers to connect and communicate easily, privately, and securely.|
|4||20%-30% of First Responders have PTSD. This equates to 400K-600K First Responders (Fire/EMS).|
|5||The nSightify team has dedicated over 40 years to understanding the needs of First Responders (Fire/EMS).|
|6||Research shows that connection and communication builds resilience and improves well-being and performance.|
|7||First Responder Burnout and PTSD is affecting more than half a million First Responders (Fire/EMS).|
I‘m excited to be reinvesting in the nSightify mission and founders! John and Jason are passionate about finding a solution for First Responder burnout and turnover. When I reconnected with them last year and heard about nSights, I knew immediately I wanted to be a part of it. It’s a great opportunity to bring together my interests in EMS and my passion for supporting people, teams and organizations in performance and well-being. I’m truly excited about this company, this team, and the impact we can make together.
Our engagement and commitment with the EMS and Fire community started in 2004 when John founded ESO Solutions to leverage opportunities at the time for First Responder insurance billing services. ESO Solutions was born with the purpose of providing an efficient and cost-effective ePCR solution for John’s billing clients. The business became so successful that the billing section of the company was eventually spun off.
Jason has extensive first-hand experience of the inherent challenges that face EMS and Fire providers and practitioners. He spent nearly ten years in a high volume EMS organization but eventually succumbed to burn out and PTSD at the end of his career. This prompted a sea change which he found when he joined ESO Solutions. Jason's knowledge of the First Responder market is formidable and he brings all that knowledge and passion to bear in improving the capability of first responders to deal with the same challenges that he faced through nSightify’s offerings.
Jason and John reconnected in late 2018. They realized after some brainstorming that while their previous companies were successful, they couldn’t really say, "We are making a substantial contribution to make the lives of First Responders better." This realization compelled them to address the everyday challenges that First Responders face by developing a tool that truly brings value to the health and wellness of First Responders. nSightify was born.
Stanford Medicine's 2018 National Physician Poll said *EHRs: systems had detracted from their professional satisfaction (54 percent) as well as from their clinical effectiveness (49 percent).
*EHR is the physician equivalent to an ePCR for a First Responder.
At the beginning of February 2019, we started the process of fleshing out our designs through mockups and wireframes.
We solicited input from industry practitioners to confirm our design and application workflow was optimized and fit for purpose. In late March 2019, after several interactions and feedback sessions, we started development. We slowly built a team utilizing resources from Systalent, a software development company that has a proven track record with John delivering quality EMS solutions. In October 2019 we launched our initial MVP product.
In March of 2020, we delivered out Telehealth solution.
John and Jason are majority shareholders in nSightify and have bootstrapped the company through to the initial product release phase.
Rachael Waldinger was a CEO at a First Responder billing company and later took an executive role at R1 - a leading healthcare revenue cycle management company. Rachael believes strongly in the team’s vision and has been a valued investor in nSightify from June 2019
Anwar is the CEO of Systalent, a software development company partnering with nSightify to develop the nSights application. John and Anwar have developed a trusted relationship having worked closely together to develop EMS focused applications. Anwar is a valued investor in nSightify from January 2020.
We now proudly serve a group of paying clients who we are working closely with to ensure that nSights meets their particular needs. To further the company, grow our team, and maximize our opportunities we are seeking people who would like to invest in nSightify's exciting future.
nSightify has financial statements ending December 31 2019. Our cash in hand is $5,000, as of July 2020. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $5,000/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.
nSightify has developed a platform for Fire and EMS agencies to mitigate staff disengagement, high turnover, physical and mental burnout, and other trauma experienced by EMS and Fire providers. Central to this platform is the nSights mobile app whose inbuilt communication channels, key results, kudos, direct messaging, and video calling functions provide EMS agencies with engagement, recognition, and communication tools for their benefit, and the well being of their workforce.
We want nSightify to be known as the go-to provider of choice by EMS and Fire agencies across the USA. The broad acceptance of the nSights app by the first responder community who buy into the nSightify vision of supporting people in the field and making EMS a better place to work through fit for purpose intelligent software. We strongly believe that these goals will provide strong foundations for profitability and growth, although it cannot be guaranteed.
Nsightify, Inc. was incorporated in the State of Texas in December 2018.
Since then, we have:
Historical Results of Operations
Our company was organized in December 2018 and has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
To-date, the company has been financed with $35,000 in convertible notes and $120,000 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
Nsightify, Inc. cash in hand is $1,900, as of April 2020. Over the last three months, revenues have averaged $3,500/month, cost of goods sold has averaged $600/month, and operational expenses have averaged $7,000/month, for an average burn rate of $4,100 per month. Our intent is to be profitable in 8 months.
Since the date of our financials, we have experienced a reduction in development spending as the nSights product is becoming mature and marketable. We hope that COVID-19 and the move to telehealth will accelerate uptake as we onboard new customers.
While this cannot be guaranteed, with COVID-19 and the proliferation of telehealth in EMS, we expect an acceleration in revenue. We also plan to apply for a CARES loan for additional capital.
The two principals of nSightify can provide marginal funding to keep the development team active.
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.
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.
Jason Bonham is a part-time officer. As such, it is likely that the Company will not make the same progress as it would if that were not the case.
Market and opportunity risk. ET3/Telehealth is a new capability in billing and receiving reimbursement and is sponsored by Medicare. Medicare could decide to rollback these efforts but we see this as minimal risk.
Operational risk. We designed the nSights application to be extremely lightweight in both technical requirements and maintenance for our staff and the clients' staff. There is a minimal risk that as we onboard new clients that the AWS infrastructure costs will eat into margins.
Team experience and depth risk. We have bootstrapped bringing this software to market and plan to grow quickly. Hiring the right people will be critical in order to be successful. Plan to mitigate this risk by structuring the interview process and taking the time to make each hire.
Temporary Rule 201(z)(2) provides temporary relief from certain financial information requirements by allowing issuers to omit the financial statements required by Rule 201(t) in the initial Form C filed with the Commission. This offering has commenced in reliance of Temporary Rule 201(z)(2) and, as a result, the following must be disclosed: (i) the financial information that has been omitted is not otherwise available and will be provided by an amendment to the offering materials; (ii) the investor should review the complete set of offering materials, including previously omitted financial information, prior to making an investment decision; and (iii) no investment commitments will be accepted until after such financial information has been provided.
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