Ann: Quarterly Update and Appendix 4C, page-3

Did a brief read of the report.

I made an earlier post responding to @UnclePanda as we both speculated on IHL potential cashburn this quarter.


Guess I was right. No surprise that dental sales been basically dumpstered thanks to CORONA halting all sport. No ones buying mouthguards in this time.... Only positive is less will be SPENT on the dental biz because of this.


109K+ for oils this Q, first ever sales coming through. Lower than I expected but if you look carefully with the wording for IHLs anns regarding the oils we know that...

They only sourced 1K patients, only now are selling to them I assume. For comparison AGH has almost 6000 patients now and this quarter pulled in almost 1.5M revs. Just going off that I cant imagine IHL has actually sold to 1K of their patients yet because by the same logic I expected more like 250K for 1M patients, we will see more of this reflected in the Q2 quarterly. Would also like patient growth updated as well with guidance of how many units sold, recurring customers etc...


That's solid cash balance for end of Q1. I noticed from their guidance from Q4 2019 they significantly overestimated the amount spent on product manufacturing, think cause of corona that went from 550K expected spend to 106K spent.

Final thoughts, IHL still has strong cash position. In reality if you add the 109K from oils sales we only lost 644K. The 300K from Suds oppies once again showing how important those are to our cash balance. Spending will be significantly down because of corona on the dental biz, remember that IHL gave guidance for 1.5M spend and in reality was only 1M.

Guidance for Q2, costs are all down except for R&D. This due to OSA Trial if they actually honour their timelines.

All in all not the worst or best 4C, I expected more from oils but I think the real conversion into sales will happen this quarter instead of March. Sucks that the dental biz took a hit but could be a blessing in disguise as it lowers cash burn significantly. Strong balance sheet, the company just has to start that OSA Trial. And hopefully COVID restrictions get lifted for TBI. We easily have the cash to make it happen. Just need to honour timelines.