{"id":1380696,"date":"2021-01-28T08:00:00","date_gmt":"2021-01-28T07:00:00","guid":{"rendered":"https:\/\/nosamed.com\/mfn_news\/report-q4-and-full-year-2020\/"},"modified":"2021-01-28T08:00:00","modified_gmt":"2021-01-28T07:00:00","slug":"report-q4-and-full-year-2020","status":"publish","type":"mfn_news","link":"https:\/\/nosaplugs.com\/sv\/blog\/mfn_news\/report-q4-and-full-year-2020\/","title":{"rendered":"Report Q4 and Full Year 2020"},"content":{"rendered":"
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January-December 2020<\/strong><\/p>\n<\/div>\n

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CEO Statement<\/strong><\/p>\n

For us who work in the healthcare sector, the fourth quarter of 2020 was characterized as much by the global pandemic as previous quarters; In fact, almost more so since we have unfortunately been hit by a second corona wave before commencing large-scale vaccinations. It is a worrying situation for the world\u2019s governments and what is often called \u201dchallenging\u201d for its health care sectors that are naturally not able to prioritize normal priorities including the necessary digitalization of health care for long term improvements in care performance and patient satisfaction.<\/p>\n

Despite this, I would say that we have made progress during the last quarter of the year. We continue to develop and improve our product FRISQ Care. On the customer side, I am glad to announce a stronger cooperation with Capio, one of the leading players in Europe when it comes to health care. After having successfully cooperated with Capio Elderly and Mobile Care for the past year, we signed an agreement with Capio Orthopedics in November. Capio Orthopedics is a highly specialized orthopedic clinic that will have perfect use of our solutions in the care and rehabilitation processes.<\/p>\n

I am optimistic for the coming year. Successful global vaccination programs should gradually tame the pandemic and allow our industry to focus on other issues, such as the advantages of implementing our solution. I look forward to working with this!<\/p>\n

George Thaw, CEO, FRISQ<\/p>\n

Financial Summary<\/strong><\/p>\n

Fourth Quarter2020<\/strong><\/p>\n

\u2022 Reported net revenue amounted to 0.3 mSEK (0.03)
\u2022 Other revenue amounted to 0.3 mSEK (0.6)
\u2022 Earnings per share amounted to -0.9 SEK (-0.9)
\u2022 Cash-flow amounted to 53.7 mSEK (-21.0)
\u2022 Cash at the end of the period amounted to 87.8 mSEK (26.7)
\u2022 Comprehensive income amounted to -28.2 mSEK (-22.1)<\/p>\n

January \u2013 December 2020<\/strong><\/p>\n

\u2022 Reported net revenue amounted to 1.4 mSEK (1.9)
\u2022 Other revenue amounted to 0.4 mSEK (1.2)
\u2022 Earnings per share amounted to -7.3 SEK (-3.2)
\u2022 Cash-flow amounted to 61,1 mSEK (-15,0)
\u2022 Comprehensive income amounted to -229.1 mSEK (-73.8), of which 125.4 (0) relates to the write down of goodwill and the reversal of tax assets<\/p>\n

Events during the quarter<\/strong><\/p>\n

\u2022 Contract signed with Capio Orthopedics.
\u2022 The EGM held November 4th, approved a direct share issue, with deviation from the share-holders\u2019 preferential rights, of 15,750,000 shares at SEK 5.0 per share. The share issue will provide the company with mSEK 78.7 before deduction of related costs.
\u2022 Anna Frick and \u00c5ke Hallman resigned from the Board.<\/p>\n

During\u00a0previous\u00a0quarters<\/strong><\/p>\n

\u2022 Contract signed with
\u2010 Lund University; support for research project on Mental Health
\u2010 Region Sk\u00e5ne; assessment of forward-looking care plans
\u2010 VGR; development, maintenance and support
\u2010 KI and VGR; research grant focusing on care plans for chronic complex illnesses. \u2022 Letter of Intent signed with Dartmouth-Hitchcock Medical Center.
\u2022 A Swedish Government report identified FRISQ as the only digital solution, to date, that meets the requirements of the \u201cpatient contract\u201d.
\u2022 George Thaw appointed Interim CEO.
\u2022 The EGM held on January 30th, approved a fully guaranteed rights issue of 7,175,460 shares at SEK 9,0 per share. The rights issue was subscribed at approximately 120%. In addition, the Board chose to exercise the over-subscription option of 1,111,111 shares \u2013 in total representing an issue volume of approximately 74.6 mSEK before deduction of related costs.
\u2022 The AGM approved a warrant program and an associated rights issue of maximum 320,000 shares.
\u2022 A rightsizing and competence enhancement program was conducted.
\u2022 The company removed all precious guidance and will provide continuous updates going forward.
\u2022 The US launch plans will resume as soon as the Covid-19 situation so permits.<\/p>\n

After the period<\/strong><\/p>\n

\u2022\u00a0No\u00a0new\u00a0events\u00a0to\u00a0report.<\/p>\n

Financial calendar<\/strong><\/p>\n