Moseda Technologies Inc. primarily engages in the development and operation of mobile device management software systems that allow the management to tracking of assets using mobile devices. It develops SmartCare, a mobile health solution for accessing, tracking, and managing patient health records securely from the Web, smartphone, or tablet; for automatic vital tracking; and for healthcare providers to manage staff and tasks. The company also provides SmartCare@Home, a telemedicine solution that utilizes the mobile, wearables, and SaaS technology to allow for remote patient monitoring. In addition, it offers SmartFleet, a fleet and asset tracking software for businesses that operate mobile and vehicle fleets. The company is headquartered in Vancouver, Canada.

1. Canadian Healthcare Trends
The Canadian healthcare system is facing enormous
challenges from the ageing population combined with
increased life expectancy, chronic diseases, rising
expenditures, and cost cutting procedures to balance
public deficits.
Healthcare labor shortages and socio-economic
complexities have made timely access to quality
healthcare a central issue in both rural and urban Canada.
The increasing growth of Information and
Communications Technologies (ICT) is allowing
healthcare professionals to tackle these problems. Cloud
computing is a favorable avenue for mHealth and
telemedicine as the investment from healthcare providers
and patients and IT infrastructure is nominal when
compared to that of building new hospitals, care
facilities, etc.
Recent Developments
Health Canada License
Moseda has made strides to successfully pivot into the
healthcare sector specifically focusing on mHealth and
telemedicine. Moseda recently received a medical device
establishment license (#6711) from Health Canada which
allows them to import Class III medical devices and
distribute them within Canada. Obtaining this license was
a key step towards adoption of their Moseda’s software,
which will allow Moseda to access the software market
through the sale of already commercialized devices.
Distribution Agreement with Top 10 Pharma
Company
This news was followed up by Moseda successfully
signing a distribution agreement with a top 10 multi-
national pharma and diagnostics company. This is a
significant milestone and shows the value of Moseda’s
mHealth solutions as it is no easy task for telemed
companies to secure agreements with Top 10 pharma
companies.
A mHealth &
Telemed Company
Inventure Capital Markets
Written by: Gurinder Sandhu, BBA & Jag Sangha, CFA
Moseda Technologies
Inc. (MSD.V)
Moseda Technologies Summary
Moseda is digitalizing health care with innovative technologies that work with wearables, smart phones and smart devices. This
digital infrastructure will allow patients to have more comprehensive information on their health and allows for more educated
decisions. The new paradigm is allowing for tailored medical solutions with a focus on lowering costs and ensuring better
outcomes for patients. The technologies are moving at warp speed and public and private health ministries are already providing
coverage and reimbursement. The delivery of remote care, which can be provided through Moseda’s technologies, make it both
marketable to patients and the payors who view it as a major cost saving endeavor. Moseda’s Smartcare solution eliminates the
inefficient processes of manual data entry, and also brings efficiencies in acute care settings, ambulance services, long-term care,
and home care services. Moseda is hitting milestones on a weekly basis, and is growing quickly, which verifies the market
potential and acceptance of the technologies and the strength of the security for the mHealth solutions. Solid execution,
accelerated growth, near term milestones, strong capital markets partners, and the importance and market size for Moseda
Technologies’ mHealth and telemedicine solutions excite us about the near and long term potential in becoming a market leader.
leader.

2. Purchase Order Servicing over 20,000 Patients
Upon signing this distribution agreement, Moseda wasted
no time and has already received a purchase order for
$350,000. This client is a servicing company in the home
care market with over 20,000 patients. The Company
plans to launch sales in Q4-2015.
Management Team
Nicholas Murray, CEO
Nicholas Murray has a strong background knowledge of
internet and mobile security. His previous role as CEO and
founder of MobSafety, which is a mobile security solution
for the enterprise and consumer markets, helps investors
and regulators alleviate a major factor in the mHealth
industry, namely security. Mr. Murray also worked as a
Senior Network Administrator for MBA group in London
managing and securing 200- User Windows/Macintosh
network. He not only knows how to run a growth oriented
company but also has helped pin point one of the biggest
barriers to entry for mHealth which is the security concern.
Sameet Kanade, Board Member
Another great addition to the Moseda’s board is Sameet
Kanade who has over 10 years of technology experience
in Canada and is currently head of technology investment
banking at an independent full service investment bank.
Mr. Kanade brings a wealth of experience not only in
technology but the public markets as well, and this gives
Moseda the right tenure of experience to successfully
deploy their mHealth and telemedicine strategy. Mr.
Kanade has been granted 150,000 options to purchase
shares of the company at a price of $0.15 for a period of
two years.
Key Features and Challenges of
telemedicine and mHealth
Ernst and Young recently published a report stating that
mHealth and telehealth will grow from $240 million in
2013 to $1.9 billion in 2018 which renders to a 50% annual
growth rate. The key drivers for this exponential growth
will be physician shortages and an increased patient base.
Canada is ranked last compared to Australia, Germany, the
U.S, and other major countries, when it comes to
“timeliness of care” and has the second-worst overall
efficiency, according the Canadian Medical Association.
Canada ranked among the least advanced when it comes
to the electronic transfer of patient data and records
between doctors and other health institutions. The largest
upside potential will be seen in mobile apps that allow
consumers to have access to their records in real time. The
major barrier to adopting this new technology will be
organizational, cost, legal, and confidentiality issues. With
an aging baby boomer population, the Canadian healthcare
system desperately needs to reduce costs as it will not be
able to sustain the same health care spending from a
smaller percentage of Canadians contributing to soaring
healthcare costs.
Moseda’s “Golden Ticket”
Moseda’s key strategy is to assure that individuals’ health
information is properly protected while allowing the flow
of health information needed to provide and promote high
quality patientcare. Moseda’s main competitive advantage
in the mHealth and telemedicine space is that they are not
using capital to produce equipment as they are acting as a
middle man to distribute already commercialized units
from a recognizable pharma company which will allow
them to seamlessly introduce their software to customers
buying the devices. Integrating software is very cost
effective and it allows Moseda to achieve recurring
revenues of $5-$15 per month (per patient). Revenues are
also collected from video consultations, hardware sales,
monthly subscriptions, and the collected data has
significant sales potential in the future for pharma and
insurance companies. Moseda’s devices are fully
HIPAA/PIPEDA compliant. HIPAA is Health Insurance
Portability and Accountability Act, whereas PIPEDA is
Personal Information Protections and Electronic
Documents Act. By passing to the adherence standards in
North America, this allows Moseda to easily break
barriers to entry in other geographic locations.

3. Capital Markets Strength
The company is backed by strong venture investors that
includes Hamza Thindal Capital Corp. (HTC) who joined
Moseda in August 2015 and acted as a catalyst for change
in the company’s direction. The firm is well respected by
investors as they ensure that the management is focused
on the strategy at hand. HTC has a proven track record for
technology and healthcare companies, which is unrivaled
in the venture space. This is illustrated first hand with
Moseda as the stock has moved from $0.07 to a high of
$0.36, all while Moseda has pivoted to mHealth and
telemedicine from fleet management.
The HTC Track Record
Not only has HTC supported appreciation of the stock, but
they have also rejuvenated the board bringing on key
experts such as Mr, Kanade and CFO Aman Thindal.
Moseda Technologies has 42m shares of which 16% are
owned by CEO Nicholas Murray, showing significant
alignment in the success of the company.
“Smart mobile devices and applications,
working in concert with cloud computing,
social networking and big data analytics, will
be at the core of global health care
transformation.”
Pat Hyek, Global Tech Leader, Ernst & Young
Moseda’s Automatic Vital Tracking
Growth Prospects
Acquisition Scenario
To continue the high pace of growth, a logical solution is
to look for an M&A deal. With continued deal flow and
execution, Moseda can position itself as a buyout target.
CEO Nicholas Murray stated “right now it’s about inking
the right partnerships, getting licensing deals in place.
We’re looking at different companies for potential
mergers and acquisitions… We’ve had approaches, and if
we do a deal it would likely be about gaining market share
or some interesting complimentary tech, but our focus is
really on building the platform organically right now. The
larger our client base, the more value there is, and as we
gain data we can provide clients with more actionable
intelligence.”

4. Huge growth in Tablets and Smartphone Market
For smartwatches, such as Apple Watch, and tablets alone,
mHealth solutions are rapidly growing into a billion dollar
market. Moseda Technologies is gaining lots of traction in
this red-hot sector, and there will be a large investment
trend in the upcoming years for wearables and mHealth.
Moseda represents a way of benefiting from this
revolution, while this market is still young and gearing up
for huge growth. Around 12 million Americans receive
home mobile healthcare a day, however even healthy
millenials of the smartphone generation rely on mobile
health care. Wearables and tablets create a new billion-
dollar market for mobile health, and represent a
fundamental change.
Continued Orders from Clients
Moseda can continually secure contracts and purchase
orders given how much the company has accomplished in
the short time frame from the shift to healthcare. It is not
a simple task to secure a distribution agreement with a top
10 pharma company in the first three months of shifting
verticals, but clearly Moseda’s value is being noticed. Key
to mention is that there is lots of organic growth in leads,
as leads are actually coming to the company just from how
flexible the mHealth solutions are, which allows for
tweaks and can be installed anywhere as Moseda has
servers in the US and Canada, unlike many competitors.
This halts a major regulatory concern, as country data is
required on servers in that country.
Opening Bids from OTC Markets (FLNTF)
When bids gear up on the US OTC market for ticker
FLNTF, MSD.V can also see increased volume and
buying pressure with the increased coverage and matching
prices to the US stock, based on the exchange rate. HTC
has forged many strong relationships in the US from past
deals, and investors are waiting for the stock to start
trading. Moseda Technologies is already known to US
investors and they are waiting on the sidelines until trading
commences.
$3B Funding Support from Liberal Government
Newly appointed PM Justin Trudeau is promising to spend
$3B over the next four years in homecare funding.
Although this needs provincial approval, Trudeau states
that current premiers share the same priorities in
healthcare spending. Trudeau stated that “Every single
province is challenged with an aging population and a
need for better home care.” This is a big fundamental
change from the previous governmental party which stated
that it would scale back the growth of health transfers,
which would have had an estimated reduction for
provinces of $36B over 10 years in health transfers.
Liberal healthcare funding can also be seen in Trudeau’s
promise to spend roughly $20B over 10 years on ‘social
infrastructure’ which includes seniors’ housing and long-
term care facilities. For an innovative company like
Moseda, it is also encouraging that Trudeau is working
with provinces to overcome the obstacles to innovation in
health care delivery, as stated in his platform. Key to note
is that eldercare is a market that is barely tapped into
currently, and this is a main market that Moseda is
focussing on. As an indication to the size of the market,
roughly 10,000 people turn 65 a day in the US.
JV’s in both Fleet Management & Healthcare
To continue monetizing the Fleet Management section of
the business, we see a joint venture as a realistic option for
Moseda. Murray stated that “the fleet management deals
we did early bring us nominal revenue, but that side is
mostly shelved. We might monetize it, maybe do a JV with
someone, maybe prime it for a sale. There is interest there
from parties that are established players that are miles
behind us technologically.”
Moseda Technologies Allows companies to Improve
Triple-bottom-line

5. Additional Charts
Figure 1: Worldwide mHealth Market Size Projection
from 2012 to 2020 (in billions of US$)
Figure 2: mHealth Spend per Capita (in US$)
in Various Regions of the World, 2017E
Disclaimer: the material presented in this article is intended for
informational purposes only and not a recommendation to buy or sell
securities. The authors have presented the information with an
objective viewpoint. At time of publication, the publishers have held
stock in the company and may receive reimbursement for
dissemination.
Figure 3: Monitoring, One of Moseda’s key
revenue drivers, represents the largest portion of
the mHealth Market
Figure 4: Ageing Population (65+) puts extreme
pressure on controlling healthcare costs, a key factor
in Moseda’s Solutions