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- Demand for HealthCheck, Contakt's marquee solution, continues to grow in the face of the Omicron variant-driven wave of COVID-19 and increasing vaccine mandates and requirements in numerous jurisdictions
- HealthCheck has added over 20 new customers and has renewed over 130 customer subscriptions within the past 3 months, with nearly 800 customers in total, servicing over 100,000 users in the US alone
- HealthCheck alone generated nearly $1.35 million CAD in revenue in calendar 2021 (figures unaudited)
- HealthCheck 3.0 has been officially released, adding vaccine passport, COVID-19 test tracking capabilities, and several improvements to its population management dashboard.
- Contakt is looking to broaden its portfolio entering 2022, looking to acquire and partner with other SaaS companies in the healthcare sector and beyond
Contakt World Technologies Corp. (CSE: HELP) (OTC Pink: TLOOF) (FSE: B2I0) (the "Company", "Contakt" or "Contakt World"), a SaaS company committed to delivering a diverse suite of subscription based software solutions for healthcare and other industries, is pleased to provide a general corporate update for its shareholders.
HealthCheck
Contakt's COVID Compliance Solution, Stratum Health ("HealthCheck"), has seen significant growth in new customers and renewals over the past 90 days, primarily driven by the recent surge of COVID-19 Omicron variant globally. HealthCheck has added nearly 20 new enterprise clients since October, and new sales continue to growth month over month. Many of HealthCheck's largest clients, including Atlanta County Public Schools, with close to 50,000 users (students and school staff), have extended or renewed their annual contracts, continuing to drive revenue.
HealthCheck generated over $1.35 million CAD in revenue in calendar 2021 (figures unaudited). Contakt expects HealthCheck to continue to grow in 2022, with inbound sales inquiries increasing due to vaccine mandates and surges of COVID-19. HealthCheck currently has over 800 clients and over 100,000 active users on its platform. HealthCheck has initiated a robust marketing campaign, targeting businesses, schools and non-profit organizations across multiple jurisdictions and, specifically, those in which vaccine mandates remain in effect.
Contakt is pleased to announce that it has released the 3.0 version of its HealthCheck App and admin dashboard, in response to market demand and feedback from existing and new customers. All HealthCheck customers now have access to the platform's new vaccine passport and COVID-19 test tracking features, in addition to our established HIPPA-compliant daily symptom screening check based on the CDC's most updated guidelines. Customers interested in these new features can contact the Company's customer support for training and activation. In addition to these new important upgrades, several security and improved functionality features were deployed.
Portfolio Expansion
As the Company enters 2022, Contakt is looking to drive growth by broadening its product portfolio through acquisition, partnerships, and joint ventures. The Company is also actively pursuing SaaS solutions that it can grow by leveraging its existing customer base. While the Company is putting a specific focus on "health-tech" solutions, it is also looking beyond to other rapidly growing industries, including the metaverse, and software leveraging enterprise blockchain technology, where it can achieve rapid growth.
"We have been very pleased with the growth of HealthCheck in 2021 and are looking forward to continued growth in 2022. The HealthCheck team continues to drive new sales and deliver new product functionality to address a market that continues to grow and evolve. While we hope that the COVID-19 pandemic will soon come to an end as the virus becomes endemic, we do expect HealthCheck to remain relevant for years to come as we expand our tracking and health record keeping capabilities to address new diseases," stated Zayn Kalyan, Chief Executive Officer of Contakt World. "Beyond HealthCheck, we are actively looking at a number of SaaS companies in healthcare and other industries where we believe that Company will be able to derive revenue and profit, with the ultimate goal of driving shareholder value," Mr. Kalyan further stated.
Update on Management Cease Trade Order
On December 30, 2021 the Company announced (the "Default Announcement") that, due to certain audit delays related to its recent cross-border acquisition, the Company was unable to file its audited annual financial statements, management's discussion and analysis and related Chief Executive Officer and Chief Financial Officer certificates for the year ended August 31, 2021 (collectively, the "Required Filings") before the December 29, 2021 filing deadline.
The Company is providing this bi-weekly default status report in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). Until such time as the Company files the Required Filings and the MCTO has been revoked, the Company intends to follow the provisions of the alternative reporting guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases.
The Company confirms that, other than as disclosed herein,:
- there have been no changes to the information contained in the Default Announcement that would reasonably be expected to be material to an investor;
- there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203;
- there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and
- there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company is working expeditiously on the steps required to complete the Required Filings and anticipates that it will be in a position to remedy the default by filing the Required Filings by early February 2022. The MCTO will be in effect until the Required Filings are made.
Correction in Stock Option Cancellations
The Company also confirms it was a total of only 1,350,000 stock options which were cancelled.
Other Recent Related News from Contakt World:
Contakt World Launches Sales Representative Program to Continue to Grow Revenue for Its Cash Flow Positive HealthCheck Screening Tool and Vaccine Passport Solution
Contakt World to Offer Vaccine Passport and Verification Platform to Employers, Events and Organizations, Including Customers of Recently Acquired HealthCheck App
Contakt World Announces Acquisition of HealthCheck, a SaaS Health Screening App for Students, Customers, Employees, and Visitors
To Learn More:
If you are an organization seeking daily health screening and vaccine passports, vaccine wallets, or vaccine credentials, schedule a demo by visiting https://www.stratumhealth.io/. Our team will work with your organization to define the product that better suits your needs.
About Contakt World
Contakt World's mission is to develop or acquire and deliver software as a service (SaaS) that improves access to, efficiencies within, and quality of healthcare and other industries in all its forms. Contakt World's portfolio presently includes HealthCheck by Stratum which is used in over 1,000 locations, and Portum Pass https://contakt.world/portum/. Contakt World is actively looking to broaden its software portfolio through acquisitions, partnerships, and joint ventures. The Company is currently looking to broaden its industry scope, looking beyond healthcare, to other industries that can benefit from its current and future solutions.
Sign up for investor updates from Contakt World including updates in the field of vaccine passports and symptom screening by visiting https://contakt.world/help.
Contakt World Contact
Zayn Kalyan
Interim CEO and Director
Direct: 778-938-3367
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Forward-Looking Statements Disclaimer
This press release contains "forward-looking information" within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements, including statements respecting: expected growth at HealthCheck in 2022; HealthCheck's rollout of marketing campaigns; the new functionality and reception of the new HealthCheck 3.0 platform; the Company's plans to broaden its portfolio and pursue SaaS solutions; the Company's hopes that the Covid-19 pandemic will end soon; expected need for HealthCheck's solutions after the Covid-19 pandemic has ended; and timing for completion of the Required Filings. Although forward-looking statements contained in this press release are based upon what management of Contakt World believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of Contakt World, including those described in the Company's public filings available on www.SEDAR.com. Contakt World undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111426
