UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported): March 31, 2020
HealthLynked Corp.
(Exact Name of Registrant as Specified in its Charter)
| Nevada | 47-1634127 | |
| (State of Incorporation) | (I.R.S. Employer Identification No.) | |
| 1726 Medical Blvd., Suite 101, Naples, Florida | 34110 | |
| (Address of Principal Executive Offices) | (ZIP Code) |
(239) 513-1992
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: None.
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02. | Results of Operations and Financial Condition. |
On March 31, 2020, HealthLynked Corp. (the “Company”) issued a press release announcing the results for the year ended December 31, 2019. A copy of the Company’s press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such a filing, except as shall be expressly set forth by specific reference in such a filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release, dated March 31, 2020 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HEALTHLYNKED CORP. | |
| Dated: April 1, 2020 | /s/ George O’Leary |
| George O’Leary | |
| Chief Financial Officer |
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Exhibit 99.1
HealthLynked Reports Third Consecutive Quarter of Record Year-Over-Year Revenue Growth of 131%
Naples, FL March 31, 2020 – HealthLynked Corp. (OTCQB: HLYK), a provider of healthcare-related technology that connects doctors, patients and medical data, late yesterday reported its financial results for the quarter and year ended December 31, 2019, including a third straight quarter of record year-over-year revenue growth.
Fourth Quarter 2019 Compared to Fourth Quarter 2018:
| · | 131% increase in revenue in Q4’19 compared to Q4’18, increasing to $1,172,878 from $507,418 in Q4’18 |
| · | Operating loss decreased by 3% from $899,254 in Q4’18 to $871,882 in Q4’19 |
| · | Patient appointments increased 7% from 3,753 in Q4’18 to 4,006 in Q4’19 |
| · | Time of Service collections increased 659% from $102,450 in Q4’18 to $777,895 in Q4’19 |
Fourth Quarter 2019 Compared to Third Quarter 2019:
| · | Revenue was flat in 4Q’19 at $1,172,878 compared to 3Q’19 revenue of $1,172,560 |
| · | Operating loss increased by 7% from $815,691 in Q3’19 to $871,882 in Q4’19 |
| · | Patient appointments decreased 5% from 4,219 in Q3’19 to 4,006 in Q4’19 |
| · | Time of Service collections increased 1% from $768,606 in Q3’19 to $777,895 in Q4’19 |
Full Year 2019 Compared to 2018:
| · | 78% increase in revenue to $4,018,818 in 2019 compared to $2,259,002 in 2018 |
| · | Operating loss increased by 8% from $2,972,146 in 2018 to $3,209,010 in 2019 |
| · | Patient appointments increased 4% from 15,775 in 2018 to 16,409 in 2019 |
| · | Time of Service collections increased 350% from $549,612 in 2018 to $2,475,377 in 2019 |
"Our 10-K concludes a very successful year for HealthLynked in which our company grew 131% in the last quarter, as compared to the same quarter last year, and 78% annually", said Michael Dent M.D., the Company's Chairman and CEO. “We continue to grow our Health Services division and we have made significant progress in development and adoption of the HealthLynked Healthcare Network. Perhaps most significant is our contribution to tracking COVID-19 and deploying the HealthLynked Network on a global scale. The HealthLynked COVID-19 tracker has been the #1 trending most downloaded medical app in the Apple App Store with over approximately 1.65 million downloads in the past 3 weeks and approximately 80,000 users in the COVID-19 chat."
Dr. Dent went on to say, “The HealthLynked Network is uniquely positioned to monitor patients’ symptoms, connect them to their healthcare providers and share important medical information for all patients. Our patient access hub “PAH” technology allows patients to check in from their smart phones to maintain social distancing and prevent the spread of COVID-19.”
About HealthLynked Corp.
HealthLynked Corp. provides a solution for both patient members and providers to improve healthcare through the efficient exchange of medical information. The HealthLynked Network is a cloud-based platform that allows members to connect with their healthcare providers and take more control of their healthcare. Members enter their medical information, including medications, allergies, past surgeries and personal health records, in one convenient online and secure location, free of charge. Participating healthcare providers can connect with their current and future patients through the system. Benefits to in-network providers include the ability to utilize the HealthLynked patent pending patient access hub “PAH” for patient analytics. Other benefits for preferred providers include HLYK marketing tools to connect with their active and inactive patients to improve patient retention, access more accurate and current patient information, provide more efficient online scheduling and to fill last minute cancelations using the Company’s “real time appointment scheduling” all within its mobile application. Preferred providers pay a monthly fee to access these HealthLynked services. For additional information about HealthLynked Corp., please visit www.healthlynked.com and connect with HealthLynked on Twitter, Facebook, and LinkedIn.
Forward Looking Statements
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our
actual results, including as a result of any acquisitions, performance or achievements may differ materially from those expressed
or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words
such as “may,” “could,” “expect,” “intend,” “plan,” “seek,”
“anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,”
“likely,” “will,” “would” and variations of these terms and similar expressions, or the negative
of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that,
while considered reasonable by our management, and us are inherently uncertain. We caution you not to place undue reliance on any
forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly
any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or
changes in other factors affecting forward looking statements, except to the extent required by applicable laws. If we update one
or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or
other forward-looking statements. Certain risks and uncertainties applicable to our operations and us are described in the “Risk
Factors” section of our most recent Annual Report on Form 10-K and in other filings we have made with the U.S. Securities
and Exchange Commission. These reports are publicly available at www.sec.gov.
Contacts:
George O’Leary
Chief Financial Officer
goleary@healthlynked.com
(800) 928-7144, ext. 99
Investor Relations Contacts:
Stephanie Prince
PCG Advisory Group
sprince@pcgadvisory.com
646-762-4518
Jim Hock
Hanover International Inc.
jh@hanoverintlinc.com
760-564-7400
HealthLynked Corp.
Selected Consolidated Financial Data
Years and Quarters Ended December 31, 2019 and 2018
Year Ended December 31, | Three Months Ended December 31, | |||||||||||||||
| 2019 | 2018 | 2019 | 2018 | |||||||||||||
| Statement of Operations Data | ||||||||||||||||
| Patient service revenue, net | $ | 4,018,818 | $ | 2,259,002 | $ | 1,172,877 | $ | 507,418 | ||||||||
| Net loss | $ | (5,528,599 | ) | $ | (5,790,835 | ) | $ | (2,463,028 | ) | $ | (1,189,740 | ) | ||||
| Net loss per share, basic and diluted | $ | (0.06 | ) | $ | (0.07 | ) | (0.02 | ) | (0.01 | ) | ||||||
| Weighted average number of common shares, basic and diluted | 99,059,677 | 78,816,272 | 106,349,355 | 84,924,547 | ||||||||||||
| Balance Sheet Data | ||||||||||||||||
| December 31, 2019 | December 31, 2018 | |||||||||||||||
| Total Assets | $ | 2,546,554 | $ | 427,363 | ||||||||||||
| Total Liabilities | $ | 5,389,234 | $ | 3,362,210 | ||||||||||||
| Total Shareholders' Equity | $ | (2,842,680 | ) | $ | (2,934,847 | ) | ||||||||||
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