|1||Emergency Medical Care|
|2||Urgent Medical Care|
|3||Routine Medical Care|
With an extensive back ground in emergency medical services as a Paramedic, Emergency room Nurse and presently practicing as an Adult Nurse Practitioner, I feel that investing in UrgentEMS gives me an opportunity to contribute to a company that will bring paramedics into the community care setting. UrgentEMS will additionally bridge the individual needs of members of the community with quality emergent as non-emergent Medical care and services at an affordable price.
Every year almost 900,000 Americans die from preventable causes such as: lower respiratory disease, stroke, and injuries. Even worse is the number of survivors forced to live a quality of life that is less than they deserve. This creates a burden for patients, family members, and caregivers.
After decades on the frontlines of a failed infrastructure, Paramedic, Matt Lottinger, decided he needed to do something about it. That’s why he spent 20 years developing and creating the Urgentems concept.
Urgentems is an emerging healthcare platform designed to lower premature death rates by bridging the gap between telemedicine technology and existing emergency transport and urgent care infrastructures.
Backed by front-line workers and physicians alike, Urgentems has the network infrastructure it needs to change healthcare as we know it.
Here's what we aim to provide:
UrgentEMS has financial statements ending December 31 2019. Our cash in hand is $1,327.46, as of July 2020. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $800/month, and operational expenses have averaged $10,000/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.
UrgentEMS is focused on near real time medical triage for Emergent, Urgent, and Chronically ill patients on demand 24/7 over a common telemedicine hybrid network. Our network will provide the triage over a telemedicine consult then facilitate access to the appropriate level of resources through EMS partners, NPs, PAs, MDs, clinical partners and hospitals partners as we build this common daily use telemedicine network.
My vision is to see this company a key player in providing streamlined efficient in both time and money access to care for the Uninsured, Under Insured, and for Active Chronically who want to live life not their disease. Our business model is designed to grow to a national then international foot print. We do not seek to be everything to everybody, our target market is for patients who are seeking to be active participants in their care.
Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.
UrgentEMS, INC was incorporated in the State of Louisiana 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.
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 $7,419 in debt and $47,400 in equity.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 12 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 12 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
UrgentEMS, INC cash in hand is $1,327.46, as of July 2020. Over the last three months, revenues have averaged $0/month, cost of goods sold has averaged $800/month, and operational expenses have averaged $10,000/month, for an average burn rate of $10,800 per month. Our intent is to be profitable in 6 months.
Our business is currently supported by seed capital and sweat equity from our initial investors. We are in the start up phase getting office space, insurance, prototypes, and other necessary work done to create a firm foundation for this business. The $47,000 dollars raised to date has been used to establish the business accounting, workers compensation insurance, occupancy insurance, and offices space work space.
We expect to have limited revenue from our Covid 19 remote screening prototype, however this revenue can not be quantified at this time. We do expect at our current burn rate without salaries to be $15,000 per month. At this time the founders have been making investments to establish the business.
Currently we do not have outside sources of capital, we have elected to go the crowd funding route because most of our prospective investors are not accredited. Most people who have approached us to invest are working paramedics, nurses, firemen, and other allied health professional who understand the practicality of concepts proposed. If needed the founders can contribute more funds to fund short term operations.
In the next six months, we hope:
We will be demonstrating a basic telemedicine pack Sept 28-Oct 1,2020.
This basic package is capable of being used immediately afterward.
Membership packages will be marketable participating partners by Nov 2020, the potential pool of members is directly tied to the population our partners service.
Triage call center can go operational with the successful demonstration of the basic system at the end of september.
Ideal basic operations will require $700,000 in capitalization. We plan on phasing our operations based on the amount of capital available.
In six months after the raise we expect (but don't guarantee) expenses to be $97,000 monthly. Revenues are based on membership and hardware sold. Projecting on one EMS service with populations served of 400,000 with a 0.02 membership monthly revenue should be $240,000. This Projected revenue is based on memberships only not services consumed. We have not projected for higher membership or higher volume of services consumed to be very conservative. We have modeled for much higher membership and services consumed with very high revenue being possible. However, as we are a startup and wanting to prove ourselves we do not want to over promise then under deliver.
We may fail to raise sufficient capital to implement the UrgentEMS Network and attract memberships.
There may be a failure of the broadband internet infrastructure required to support implementation of high quality secure video based conferencing.
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.
Changing regulatory environment specifically in the area of telemedicine laws, HIPPA, State and National Regulations may have material and unpredictable impacts on our business.
Failure to attract professional healthcare providers to staff the telemedicine consults provided over the network will impair our ability to operate our business.
We may fail to find a compatible Electronic Medical Record system to support the needs of the membership.
Matthew Lottinger 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.
Melissa Lottinger 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.
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.
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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