Correction: Interim Report Q1, 2022

The correction refers to the EU Market Abuse Regulation.

CEO Statement

During the quarter, we have expanded our cooperation with the private healthcare provider, Capio. In addition to the multi-year agreement with Capio Elderly and Mobile Care, Capio Orthopedics signed a 3-year agreement with us. The new agreement was signed after a successful pilot project, which really proves that FRISQ Care brings value that our customers are willing to pay for. I’m very proud of the results highlighted by Capio Orthopedics that shows that the use of FRISQ Care helps Capio to deliver needs-based care based on the information provided by the patient in FRISQ Care. Having the patient involved not only means that they can be co-producers in their care and share information and off-load the care personnel, it also means that the patients are well-informed throughout the care journey which in turn decreases the need to cancel surgeries last minute.
We have conducted a new issue of shares and adjusted our cost base to try to secure our financial position. The Board is currently reviewing several alternatives to further strengthen the financial situation.
George Thaw, CEO

Financial Summary

  • Reported net revenue amounted to 1.4 mSEK (2.0)
  • Other revenue amounted to 0.3 mSEK (0.3)
  • Earnings per share, before and after dilution, amounted to -0.3 SEK (-0.4) • Cash-flow amounted to -6.5 mSEK (-18.5)
  • Cash at the end of the period amounted to 6.6 mSEK (69.3)
  • Comprehensive income amounted to -15.3 mSEK (-19.9)

Events during the quarter

  • After a 12-month pilot project, Capio Orthopedics signed a three- year agreement with FRISQ. The purpose of the agreement is to introduce the digital process support FRISQ Care in all Capio Orthopedics units in accordance with the with the offered licensing and implementation costs.
  • The Extra General Meeting made an amendment of the Articles of Association, which gave the Board a mandate to sell the Company’s operating subsidiaries and issue new shares.
  • The Company has received a non-binding offer for the Company's operating subsidiaries FRISQ AB, FRISQ UK LTD and FRISQ USA Holding Inc (together the "Subsidiaries") for a total purchase price of approximately SEK 106 million.
  • The Company has carried out a directed share issue of 18.150,000 shares at the issue price of one (1) SEK per share, whereof 11.000,000 was under registration at the end of the period.

Events after the period

  • The Company has carried out a rights issue. In total 2,236,015 shares were subscribed, corresponding to approximately 18.65 percent of the Rights Issue. The Rights Issue thus provides the Company with approximately SEK 2.2 million before deductions of costs related to the Rights Issue.

Financial Calendar

Publication dates for interim and full year reports for 2022:

  • Second quarter report to be published on August 12, 2022
  • Third quarter report to be published on November 10, 2022
  • Full year report to be published on February 16, 2023
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