Investor relations q2 2015

You can't possibly read this and feel like the Ivory tower is in a state of disassociated denial given the current state of job security.
http://irlifewatch.com/websites/lifewatch_ir/English/4020/interim-reports.html

Gross profit being 2mm over 2014. OK. Assets are overall higher which helps with manipulation of the numbers to begin with, particularly with AR and inventory being higher. This is not real money, and we all know the history of collecting here. Current liabilities are higher. While gross profit is up, the cost of achieving those revenues is also up while the number of employees is down as is R&D at a time where stagnation in this industry is tantamount to death. We all have seen the fat being trimmed, so let's understand what we're putting out to the public vs what is occurring internally. Not saying some people need to go, every company has that year round, but claiming a market share increase is near impossible in this space and irresponsible reporting. How many quarterly reports can a patch be claimed? The patch is old news. The forecast is trending in what way at this moment in time?

 

Unfortunately, we have missed the boat with the patch. Most of my accounts don't even want hear about it because they are tired of hearing ANOTHER pitch for an EKG patch. If we could have launched it last year, for real, LifeWatch would own the monitoring market today. Sadly, we just got taken by Bodyguardian, SEEQ and Zio. With MediComp launching their patch in 30-60 days, Cardionet patch, Biotronic right on the horizon, and about three other vital sign monitors blah blah blah - everyone has it now and it's nothing special. It WAS special last year. The blame is on Vogt, Reitiker and Bagby - and to some extent, Bogart. Back in the day, Yakov could afford it, but corruption, laziness and ineptitude gets you nowhere in business and those who are late to the party pay the price in this day and age. Now that CRM is elbowing their way into the IDTF world... (watch and see what SJM is about to do - did you really think they would sit by and watch this?) without a partner, this company has no chance to survive. I give it 365 days.

 

It wasn't entirely about affordability. The original company this was outsourced to, locally in the Midwest, couldn't produce what they said they could. That brought things back, but that's what you held at HRS two yrs ago. Ended up being a bust. Then it got put on the back burner. Bagby has no control of this. He needs it to hit numbers and isn't getting in the way. The blame lies with those who couldn't read the market well enough and be responsive. Unfortunately, we have too many people making themselves busy and important as a dog and pony show rather than saying what matters and making things happen. We did miss the boat, so if they're smart which hasn't really proven out just yet, by the time the patch comes out, we'll have a kick ass end user report to separate us the way the ACT Elite did a few years ago. Reporting will be where it's at and our value right in our customer's faces. Patch will be ordinary, reporting should be the focus. If it's not, someone up there please tell me what we should be selling and differentiating ourselves with? We've changed selling strategies, added first of its kind technology, and supposedly reorganized for the better with no more criminals or shady people. This all falls on C-level leadership now. They don't have any more stories to tell the investors they convinced that things would improve under their control. Q2/H1 are not an indicator of year end results and that blame falls exactly at the C-level's feet. They will feel the sting of this as Lee goes running down the hall to make his reports about this. Unfortunately, there won't be much of a response. Truth, sorry.

 

You have my interest; I hadn't heard SJM was interested in this space as they went with CardioMems and long ago lost faith in iRhythm.. what are you hearing, or implying, SJM is about to do?

 

Ohhhhh Thoratec and Abbott...

 

Interesting. I think it will be a huge challenge for us as independent IDTFs to hang on, but I am sure we will.

 

What allows any company to hang on? Relevance. Device, drug or technology. Relevance. If you have relevance you're in a good spot. If not, then you need to leverage other business and/or products or relationships into similar spaces (which is where the buying power of the big companies and their pipeline is helpful). If you don't have either you're screwed.... LW has neither. We have what has become old technology and nothing new and no partners to hold hands with.

 

CN, Spectocor, Medicomp, etc are all in the same boat and doing just fine

 

Actually, none of those companies you just mentioned are "just fine" except Medicomp, who has enough equity to "hang on" even if they didn't sell a single monitor for over three years. However, the revenue of that organization is SO low and they run everything out of that tiny Melbourne office with very low FTE - it just doesn't take much. Their patch isn't commercially available until later this year and early reports indicate that it's even more klunky than SEEQ. CN and Spectocor are definitely not fine - both of these dirty dogs will go down with CIAs for continual fraudulent billing practices.

 

Dirty dog? Like someone else said, you are just CN's b*tch. Look how you use a CN paper on your website like it is your own. All you do is ride on the dirty dog's back.

Stroke Patient Care Management
A simple solution to a complex problem – Transient Ischemic Attack (TIA)

LifeWatch provides a unique Stroke Patient Care Program for cardiac monitoring of patients who have recently experienced a stroke. This simple yet comprehensive solution utilizes the real-time telemetry capabilities of the LifeStar ACT system. Outpatient Cardiac Telemetry is shown to detect asymptomatic Atrial Fibrillation (AFib) up to 23% in cryptogenic TIA/Stroke patient populations.(Tayal et al, Neurology 2008.)

 

wow!! please tell me that you don't believe what you just wrote. LW is about to go down. you have so many internal issues, no relevance, nothing unique and, oh yeah, you now have individuals like that piece of s#*t in NY who is personally under DOJ investigation. I hope Fedora boy ends up in jail for all of his fraudulent BS and kickbacks.. he's not good because he knows how to sell. Or has some real product to sell. He just knows how to buy his business.
Typical LW. Educational grants.... Advisory contracts.....

 

What is not to believe? It is a quote from LW website.

 

That's the dumbest thing I have ever heard. Have you seen CN stock lately? Look up BEAT on Nasdaq . There is no fraudulent billing going on there because it isn't needed like it is with you clowns

 

BEAT is not back to pre IPO price. I would not pound my chest too much.

 

IPO price.

 

considering how much less reimbursement is now vs. at IPO time and the stock was only $2 a share 24 months ago I would say it's doing pretty damn good

 

Higher expenses and write offs more than offset the small change in reimbursements. The change in reimbursement is why everyone is now monitoring out of SF.

 

The funny thing is one of our biggest revenue drivers dries up in a couple of months when we no longer sell one of our devices to the competition through Braemer. It'll be interesting what Wall Street makes of our sudden drop at that point??