Waqaas Al-Siddiq: Yes, for sure. So, the Holter product and the Bioflux, I can give you a great example, right. Like the GP market, right, the general practitioner market and the smaller clinic, we don’t really focus on them simply because they don’t have the volume. They might have a few devices each. Now, of course, if you scale that up and you have hundreds and hundreds of clinics, the volume becomes very meaningful. With the company of our size, we focus on the higher volume, lower hanging fruit, right, which is the cardiac centers, the specialty groups where we have higher volume. And so, that’s advantageous for products like Bioflux and Biotres. On the other side is the — using the same product analogy. If you’re going into the hospital systems, right, the hospital system, you have to be on contract with them.
They have many offices. They sometimes have outpatient centers. They have multiple sites. So, they’re using these products across multiple sites and the purchasing and the integration into their ecosystem and that whole aspect of getting on contract is a process. When you have a distributor that is already on contract that can move that product in, they understand how the supply chain works and they’ve got staff that is supporting that entire ecosystem and all their specialty in sub-clinics, it becomes a much easier and faster sales cycle for us. So, in our case, we can focus on the areas that we have relationships. And where we don’t have relationships and the opportunity is — and the sales cycle is longer, we can let our distributor take the mantle in those cases.
Kevin Dede: Okay. All right. As you look forward, I know, you’re not comfortable offering guidance, but could you give us your insight on how you see overarching market growth, right, given this general trend to do outpatient monitoring? And how you see Biotricity products stacking up against competitors, given it just seems that the potential of the market is attracting lots of other technology providers?
Waqaas Al-Siddiq: Yes. I think that, of course, the market is growing. We know that post COVID, it’s — everybody talks about how this is the trend. Everything is shifting this way. It’s more cost-effective for the health care system. So, we know anecdotally, we know from what we’re seeing that there is certainly a shift in the marketplace and that outpatient is the approach. Now, in terms of — when you look at a market like that, yes, there are people that are getting attracted to the space or looking at it and they’re trying to get in. What we focus on from a technological perspective is we try to really focus on best-in-class technology. Our technology is all award winning, but we don’t rest on our tails, if you will, right?
If you look at the number of FDA clearances, the number of FDA filings that we do, we’re constantly innovating, and we’re upgrading, and we’re making changes to our platform and our solution and it’s an entire ecosystem. And I think that, that is very clear when you look at some of the awards and accolades that we’ve got in the space. In terms of other people who are jumping in, they have to start and position themselves. And we have a lot of data which we are applying from a deep learning from an AI perspective, from optimizing our algorithms. So, it’s been a space that we’ve been in. So, can somebody come in and compete? Yes, they can. They first have to meet us technically, which so far nobody has, right? On the Bioflux side, they’re still using a third-party cell phone to communicate through.
