EchoIQ - Company Overview

There’s not a lot of discussion surrounding EIQ so I thought I’d write up a short overview surrounding the company given the enormous potential of the company from such a measly current market cap

ASX: EIQ (Echo IQ Limited)
Shares on Issue: 454m
Share Price: 20 cents
Market Cap: $90m
Cash on hand: $5.3m (1.8m per last quarterly + $3.5m recently raised @ 15c) (This doesn’t include recent conversion of options)
Over ~100m options are currently in the money which will add (averaged out) another ~$8m to the kitty (JUST those currently in the money)


OVERVIEW:

In early 2021, the company announced it had acquired medtech platform EchoIQ, which operates a predictive AI model focused on the prevention of the heart condition known as Aortic Stenosis.

EchoIQ are at the forefront of assisting with the diagnosis of what has long been the leading cause of death worldwide, heart disease.

Through the use of the AI powered technology EchoSolv, they are also able to find what may be misdiagnosed by other technologies or completely missed by specialists. The company has also just recently launched its cloud based enhanced screening platform for heart disease, specifically starting with aortic stenosis. EchoSolv has been designed to support faster, more accurate detection of aortic stenosis.

The recent successful trial at Harvard University provides enormous validation for the technology.

With the recent launch of EchoSolv, the likely next set of announcements we can expect from EIQ should relate to the uptake of EchoSolv by hospitals in the US, given this quote in the recent announcement (7th December): ‘Our experienced and highly regarded healthcare executive Don Fowler is already engaging with several leading hospitals, ASCs and health systems in leading US cardiology markets from his base in Austin, TX and we expect to be seeing EchoSolvTM deployed with a number of these at pace." Discussions with a number of US hospitals were already advanced prior to the positive results being announced, so one would expect the uptake to be rapid.

The launch of EchoSolv = REVENUE!! @ only a $90m market cap and having had one consistent seller (who appears to have exhausted there holding) around the 20-21c mark, this appears to be one of many catalysts for the next uptick in share price.

STILL TO COME:
⁃ FDA Approval
⁃ Numbers on uptake of EchoSolv
⁃ Australian results to be announced
⁃ Branching out in the assessment of Heart Failure, Mitral Regurgitation & Pulmonary Hypertension

Good luck to all holders