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Servicesdot Inc

Servicesdot Inc

Building intelligent healthcare applications

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Deal Type

Equity

Funding Goal

$750,000

Current Reservations

$460,000

Minimum Reservation

$10,000

Maximum Reservation

$500,000

Deal Stage

Series A

Pre-money Valuation

$6,000,000

Open Date

04/01/2018

Closing Date

07/31/2018

Elevator Pitch

Servicesdot.com builds intelligent, mobile healthcare applications. We are building applications that will make work easier, reduce medical costs and provide real-time financial/operations reporting.

KPIs

6 Employees

Company Overview

Hello, I'm Ken Perry allow me to introduce you to Servicesdot.com. Here is our story.

I am a 33 year veteran of healthcare.I have worked for large corporate entities and have been a founder in four start-up companies. I have a unique blend of expertise in finance, healthcare IT, and operations, that has been used to perform a lot of different roles during my career including

Throughout my career I have recognized the shortcomings of existing healthcare information technology platforms and I have had a dream to be able to develop and deploy systems, both clinical and financial, that are easy to implement, easy to use and support and that are affordable.

I founded Servicesdot.com 3 years ago, while working in Abu Dhabi, in the United Arab Emirates, where I was serving as CFO for a 300 bed hospital. It began with a need for a claims scrubbing application and medical necessity checker, which led to a full automated billing system, which led to CPOE and an electronic medical record, patient scheduling system and more.

During 2017, article after article in leading healthcare news journals detailed the problems that physicians were facing and the failures of some of the physician system providers over recent months and federal investigations, lawsuits and overall dissatisfaction with physician Electronic Medical Records (EMRs). I decided it was the right time return to the great USA and so I relocated operations back to my home town of Nashville, TN. January 2, 2018 Servicesdot.com was incorporate and before the end of the month had filed two provisional patents for our Supply Chain and Financial system applications. We began to assemble and expand an incredible team of talented, dedicated individuals, who average 20 years of healthcare and IT experience to accomplish great things over the next few years.

In January 2018, as my family and I had health care encounters in Nashville, our experiences reaffirmed over and over that the timing was right and that Servicesdot.com was focused and moving in the right direction. I took my mom to an endoscopy center with a leading hospital company. We arrived and they had no electronic scheduling system. The Registration Clerk was using a ledger size, hand written sheet to check us in and marked us off the list with a highlighter. When I picked up my mom in recovery, the nurse was documenting on a paper EMR form.

In a separate encounter, I took my wife to the OB. They had an EMR system in place, but they were still documenting on paper all the interactions. When I asked the doctor, she indicated they did not like the system and were evaluating other systems to replace the current one. My wife received three separate sheets of paper for future appointments, one appointment per page, using less than an 1/8th of each page. On both occasions, I just thought I had entered the twilight zone. It is 2018 and healthcare providers started using the precursers of computers in the 1950s.In 2009 Congress passed the Health Information Technology for Economic and Clinical Health (HITECH) Act.And many providers are still without a viable solution.

I believe with today’s technology, every physician provider, outpatient clinic, small hospital should be able to afford the latest technology to provide better patient care and run their business. These systems should be easy to use, automated to the extent possible, mobile enabled and affordable. They should be patient friendly and accessible and assist all providers in delivering world class healthcare.

So back to the Servicesdot.com story.Our solutions are built to enhance operational excellence and efficiency, not to simply add work in providing digital documentation. How are our products different? We are redesigning and redefining the integration of data driven decision making and streamlined workflow documentation, using artificial intelligence, true cloud based technology and other advanced technologies to improve efficiency and efficacy of physicians. No more will a physician have to stay extra hours at the practice to complete their charts. Nor will patients leave an encounter wondering what just happened or what do I do next. Our solutions are built to provide a better patient experience and better communications between physician and patient.

Servicesdot.com will focus on providing a vast array of mobile applications that empower patients to schedule their own visits, get test results back quicker and even eliminate the duplication of forms that gets filled out every visit with medical histories – all of which vastly improve patient satisfaction with the overall process.

Our Supply Chain and Financial applications have the potential to disrupt the entire healthcare supply chain and ERP markets with patent pending technology that changes how these systems work, when lined up against the antiquated 80s based technology still being provided in the market.

Servicesdot.com will be able to differentiate ourselves from our competitors in the way we implement systems. I personally have implemented major systems and system components including Cerner, Lawson, Oracle, and many others. During my career, I and our teams have developed a unique pathways, processes and protocols to implement systems that we have built into all our applications. Instead of it taking 2-3 months or longer to implement a system, our systems will take just a couple of weeks. And perhaps the most important differentiator for many providers, there is no huge capital investment and our monthly service fees are 40-60% of our competitors.

Why should you or any individual invest? First, our products with patent pending technology have the potential to disrupt markets. Second, our company is not a one trick pony. We have a suite of products that can be integrated or deployed individually so we will not rely on just one product to penetrate markets or compete for market share. This out of the gate diversity provides greater opportunity for traction and for the company to be successful. Last, our management team has the proven track record in healthcare and with start-ups to help ensure we execute the business plan, which will result in good returns for our investors.

Thank You

Traction

  • Began development of initial Billing system and claims scrubber

    January, 2015
  • First Client on Executive Dashboards

    May, 2016
  • Filed provisional patents “Electronic Healthcare Supply Chain Purchasing Optimizer” & “Electronic Fully Automated Accrual Financial Sy

    January, 2018
  • Release of Physicianvisit.com

    July, 2018
  • Beta testing to begin of Omnimpresent HIS in the USA with both the EMR and billing.

    July, 2018
  • Beta testing to begin on Suppliesdot.com "Supply Chain Wizard"

    August, 2018

Pitch Deck

Press Mentions

Key Customers & Partners

AWS Cloudicity

Previous Funding

  • $81,500 Equity
  • Raise Source: Self
  • February 2015
  • $108,700 Equity
  • Raise Source: Self
  • November 2015
  • $81,500 Equity
  • Raise Source: Self
  • December 2015

Frequently Asked Questions

What makes us different?

We are creating applications that significantly change the way business will be done in healthcare. Our EMR within the near future, will fully automated (using artificial intelligence) with coding and billing, eliminating significant staffing for physicians. Our Supply Chain application will change the way supplies are ordered and providing transparency in pricing. Our Virtual Financials, will change the way people manage with full accrual financials on a daily basis. We are focused on providing tools that provide patients and physicians greater control over healthcare to ensure high quality care, while reducing medical costs.

Why Invest?

We believe that this investment has a lower than normal risk and the potential for a significant return. This is due to the strong management team and the number of products the company will release in the next 9 months. In addition, market acceptance should be high as we are delivering lower cost, more efficient applications that users will like to use. We have two products that have potential disruptive effect to their markets. Either of these products could be a company on their own and generate significant revenue, which makes our company attractive for potential buyers.

What is the management team track record?

Kenneth Perry has participated in several start-ups with the most successful being Iasis Healthcare, that produce investors a significant return. Pramod Balakrishnan has taken one healthcare company public and grew another significantly to where it was acquired by another public company. All the management team members have had success in owning their own businesses.

How much has Ken invested in getting to where everything is today?

He has invested over $270,000 in cash to fund development of applications and related expenses, plus has contributed over 1,000 hours a year for the last three years without pay from this work. At a low consulting rate of $150/hourly, this contribution would be worth almost $450,000 in contribution to the company. A total contribution of over $700,000 in value.

How will the money raised be used?

We will use the 2 million from the offering to deploy and continue development of our applications. We will spend approximately 41% of our monies on development of the products, not including the management time spent on these development projects. We will spend 30% on management, 20% on data center, security and support and 9% on marketing mostly in 2019.

When will the company start generating revenue from its products?

It could be as early as 3rd quarter 2018 from Physicainvisit.com and Suppliesdot.com.

What is the exit strategy?

We have a long-term plan to build the company for IPO. We believe there is a good chance we will receive offers to buy the company, based on the ability of much larger companies that can immediately scale our products to thousands of users. We would expect an exit either way in 3-4 years.

How long to know about patents?

The process to receive approval can vary greatly, but the average is approximately three years. We filed provisional patents January 2018 to reserve our patent claims.

Risks & Disclosures

Risk Factors

An investment in the shares offered pursuant to this memorandum involves a high degree of risk and should be undertaken only by qualified investors whose financial resources are sufficient to enable them to assume these risks and who have no need for liquidity in their investment.

The Company’s management has attempted to identify the business risks and uncertainties associated with an investment in the Company.However, the Company has a limited operating history and additional and unforeseen risks may not or cannot be identified at this time.Before any investment is made in the Company, you should consider all of the risks associated with the investment, including but not limited to the following:

Limited Operating History.

Servicesdot.com is a Delaware corporation formed in January 2018.The Company is in its developmental stage and has a limited operating history.No assurance is or can be given as to the future success of the Company’s operations or the amount of any future income or loss that the Company will realize.In addition, the Company may be required to further refine or change its business strategy as it develops.You should evaluate the Company’s business operations and your investment in the Company in view of the risks, uncertainties, delays and difficulties associated with a new company.

Liquidity and Working Capital.

The Company’s success will be dependent upon its ability to finance its operations through the proceeds of this Offering, future financings and operating income, if any.If the Company is unable to sell all of the Shares offered pursuant to this Memorandum, the Company’s ability to execute its business strategy may be constrained.Even if the Company is able to sell all of the Shares offered pursuant to this Memorandum, the Company anticipates that it will be required to obtain additional financing in the future to continue to conduct its business operations. If the Company is unable to obtain additional financing, the Company could be forced to cease operations and you could lose your entire investment in the Company.

Projected Operating Losses; Fluctuation of Operating Results.

Given the planned level of operating expenses, the Company expects to continue to incur operating losses for the foreseeable future.If revenue growth is slower than anticipated or operating expenses exceed expectations, the Company’s losses will be more significant than projected.Even if the Company achieves profitability, it may not be able to sustain or increase profitability on a quarterly or annual basis.In addition, the Company’s operating results may fluctuate significantly as a result of a variety of factors, many of which are outside of the Company’s control.

Financial Projections.

The prospective financial information attached hereto as Exhibit A contains financial projections prepared by the management of the Company.Although the management of the Company believes that these projections are reasonable based on information currently available to the Company, the Company can make no assurances that these financial projections will be realized.The Company has a limited operating history, and thus its assumptions may not be accurate.In fact, actual financial results of the Company will likely differ materially from those reflected in the financial projections.Accordingly, prospective investors are cautioned not to place undue reliance on these financial projections.Realization of the projected financial results are subject to a number of risks, including those discussed in these “Risk Factors.”

Acceptance of Products and Services.

To be successful, the Company must attract a significant number of clinics, hospitals, insurers and others as customers. The complexities of the nature of the transactions that must be processed by hospitals have hindered the development and acceptance of information technology solutions by the healthcare industry.Accordingly, conversion from traditional methods of information exchange to electronic information exchange by the Company’s targeted customer base may not occur as rapidly as expected, which could materially adversely affect the Company’s financial condition and results of operations.In addition, the success of Servicesdot.com’s business plan involves the acceptance of cloud based information technology functions.There can be no assurance that, for the foreseeable future, these potential customers will not demand retention of full control of their major information resources.

Development of Brand Names

The Company believes that developing brand names will be critical to achieving widespread acceptance of its products and services, which will depend largely on the success of its marketing efforts.In order to promote brand names, the Company will need to make a financial commitment to its marketing efforts.If the Company fails to develop, promote and maintain its brand names or incurs substantial expenses in an unsuccessful effort to develop, promote and maintain its brand names, the business and financial condition of the Company could be materially adversely affected.

Competition.

There are several large, established companies that focus on the same types of applications that Servicesdot.com will provide to its customers.The Company’s success depends on its ability to develop and maintain relationships with customers and provide applications that customers want to use.If the Company is unable to compete effectively with other companies that are in or enter this market, the Company could fail in its efforts to attract customers or lose customers to current and future competitors, resulting in decreased revenue and income.

Risks Associated With Technological Change.

The market for technologically based products and services, including cloud based products and services, is characterized by evolving industry standards and the frequent introduction of new products and services.This will require the Company to continually improve the performance, features and reliability of its products and services.There can be no assurance that the Company will be successful in responding quickly, cost effectively and sufficiently to developments in the market.In addition, the introduction of new technology or standards could require extensive expenditures by the Company to modify or adapt its products and services and could fundamentally alter the character and viability of the Company’s products and services.The failure of the Company to meet these challenges could have a material adverse effect on the Company’s financial condition and results of operations.

Technological Challenges Regarding Development of Products and Services.

Part of Servicesdot.com’s business plan is the creation of systems that will allow the integration of clinical, financial and administrative information technology solutions for physician practices, outpatient centers and small community hospitals, thereby enabling seamless communication of basic clinical, financial and administrative data.The complexity and multi-faceted nature of this data, combined with the changing language and communications standards in the healthcare industry, will make the creation and implementation of the systems challenging.

Difficulty Managing Growth.

The Company anticipates that it will be required to rapidly expand its operations in order to pursue potential business opportunities.This rapid growth, if achieved, will significantly strain the Company’s management, operational and financial resources.The Company cannot be assured that its personnel, systems, procedures and controls will be sufficient to adequately support its future operations, that management will be able to identify, hire, train, manage and retain required personnel, or that management will be able to identify and exploit existing and potential market opportunities.

Dependence on Strategic Relationships.

The Company is in the process of developing strategic relationships with a number of software developers, technology companies and information technology consulting firms.Developing and maintaining these relationships will be crucial to the Company’s ability to successfully develop, maintain and support an integrated clinical, financial and administrative information system for its hospital customers.The failure of the Company to develop or maintain these strategic relationships, or the failure of these strategic relationships to provide the anticipated benefits, could hinder or prevent its ability to develop an integrated clinical, financial and administrative information system and could have a material adverse effect on the Company.

Regulated Industry.

The Company is subject to extensive federal, state and local regulation, including regulations promulgated under the Administrative Simplification Provisions of the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”).The Administrative Simplification Provisions of HIPAA require the use of uniform electronic data transmission standards for healthcare claims and payment transactions submitted or received electronically.The Company cannot predict the impact that the final regulations, when fully implemented, will have on its operations.

The Company also is subject to a section of the Social Security Act known as the Anti-kickback Statute.This law prohibits healthcare providers and others from soliciting, receiving, offering or paying, directly or indirectly, any remuneration with the intent of generating referrals or orders for services or items covered by a federal healthcare program.Final safe harbor regulations issued under the Anti-kickback Statute outline categories of activities that are deemed protected from prosecution, including a safe harbor for discounts.The Anti-kickback Statute may affect how the Company structures its relationships with some of its customers.

Failure by the Company to comply with the laws and regulations discussed above or any other federal, state or local law, rule or regulation could subject the Company to civil and criminal penalties.In addition, any changes in these laws, rules and regulations could require extensive effort and expense on the part of the Company in order to effectuate compliance.

Proprietary Rights and Licensing.

Servicesdot.com’s success and ability to compete depend, in part, upon the Company’s ability to develop competitive technology and maintain the proprietary aspects of its technology.In addition to agreements with software developers addressing the development of intellectual property and work product, the Company intends to require its outside consultants and contractors to sign confidentiality agreements.The Company intends to negotiate license agreements with its developers to obtain and protect the Company’s proprietary rights in the technology, and with its software vendors to secure confidentiality requirements and ensure receipt of software updates as soon as they are available from the licensing vendor, so as to maintain competitiveness.

Servicesdot.com anticipates that its customer contracts will contain broad definitions of “confidential information,” along with limitations on access to code and confidentiality agreements protecting Servicesdot.com’s confidential information.The inability to negotiate reasonable confidentiality agreements, or the breach of these agreements, could have a material adverse effect on the Company.In addition, the Company intends to rely on trade secret, copyright and patent laws to protect its proprietary rights generally.The Company cannot be assured that these laws will provide sufficient protection, that third parties will not copy or otherwise obtain its technology and confidential information without authorization or that others will not independently develop technology similar or superior to the Company’s technology.

Claims by Third Parties, Developers and Vendors.

Although the Company intends to require indemnification from its developers and vendors for infringement of third party intellectual property and other proprietary rights, the Company cannot ensure that the software and applications purchased or licensed from its developers and vendors will not infringe on the intellectual property or other proprietary rights of third parties or that third parties will not assert infringement claims against the Company.In addition, the Company may be subject to claims from its developers and vendors alleging use of the software applications by the Company or end users beyond the scope of the Company’s license.Although the Company intends to provide use limitations in its license agreements with end users, the Company cannot ensure that end users will not use the software and applications for prohibited purposes or that the Company’s developers and vendors will not assert such claims against the Company.

Claims by Customers.

An integral part of the Company’s business will involve the transmission, use and storage of customer clinical, financial and administrative data.Although the Company will implement procedural safeguards with respect to the transmission, use and storage of customer data, it is possible that errors, mistakes or a loss of customer data could occur, which would subject the Company to negligence, breach of contract and other claims by customers.The Company intends to provide for limitations on liability and disclaimers of warranties in its agreements with its customers in order to mitigate its exposure to these types of claims.However, there can be no assurance that customers will not assert these types of claims against the Company or that the contract provisions negotiated by the Company will be enforced.

Dependence on Key Personnel.

The Company relies heavily on the personal efforts and abilities of Kenneth W. Perry, its President, Chairman and Chief Executive Officer.The Company’s success will depend, in part, on his ability to attract, retain and motivate other key personnel.If the Company does not attract, retain and motivate the necessary technical, marketing, financial and operational staff, the business and financial condition of the Company could be materially adversely affected.

Dilution.

Purchasers of the Shares offered pursuant to this Memorandum will experience immediate and substantial dilution.In addition, the percentage ownership of the stockholders of the Company will be diluted upon any future issuance of stock pursuant to stock incentive or stock purchase plans approved by the Company’s Board of Directors.

Restrictions on Transferability; No Public or Other Market for Shares.

The Shares offered pursuant to this Memorandum will not be registered under the Securities Act and may not be resold unless they are subsequently registered or an exemption from registration is available.Holders of the Shares have no right to require registration of the Shares until after a qualified initial public offering of the Company’s securities.In addition, any sale, transfer, encumbrance or disposition of any Shares must be consistent with applicable “Blue Sky” or similar state securities laws.There is no public or other market for the Shares, and there is no assurance that a market will develop. The transferability of the Shares is specifically restricted under the Company’s Stockholders’ Agreement and, except for limited transfers for estate planning purposes, no transfer or disposition of the Shares may be made without the prior approval of the Company’s Board of Directors.

No Regulatory Review.

No regulatory authority has reviewed the terms of the Offering, including the accuracy or adequacy of the disclosure in this Memorandum,the fairness of the terms of the Offering or the risks associated with an investment in the Shares.Consequently, a purchaser of the Shares must determine the merits and risks of an investment in the Company without the benefit of prior review by any regulatory authority.

Lack of Independent Appraisal or Valuation.

The Offering Price for the Shares has been determined by the Board of Directors of the Company and no independent valuation has been obtained to determine the potential value of the Shares.Accordingly, no assurance can be given that the Offering Price is or will at any time hereafter be commensurate with the per share value of the Shares.

Lack of Control.

Prior to and immediately following the Offering, the management of the Company will own all of the common stock of the Company (the “Common Stock”) and, pursuant to the Stockholders’ Agreement, will be entitled to designate three of the four members of the Company’s Board of Directors.After giving effect to this Offering and the award of restricted stock and exercise of options granted under the Company’s stock incentive plan, the Shares will represent a 5-10% ownership interest in the Company.Accordingly, the holders of the Shares will lack effective control of the Company.

Lack of Independent Representation.

There has been no independent representation of the prospective investors or any security holders of the Company by the Company’s counsel in connection with the structuring or conduct of this Offering.The Company’s counsel does not and did not represent the interests of any prospective investor or any security holder of the Company in this Offering and disclaims any attorney-client relationship with any prospective investor or any security holder of the Company.

ACCORDINGLY, EACH PROSPECTIVE INVESTOR SHOULD SEEK INDEPENDENT ADVICE AND COUNSEL BEFORE SUBSCRIBING FOR ANY SHARES OFFERED PURSUANT TO THIS MEMORANDUM.

Documents

Confidential

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