USAQ Announces Revenues of $120,000 for the Q4 2020 and Projects Revenues in excess of $300,000 for the Q1 2021
WEST PALM BEACH, FL, Dec. 30, 2020 (GLOBE NEWSWIRE) -- USA EQUITIES CORP. (OTCQB: USAQ) (the “Company,” “we,” or “our”) announced today that its revenues for the fourth quarter of 2020 would be approximately $120,000 and that its revenues would exceed $300,000 in the first quarter of 2021.
We introduced our QHSLab, Software as a Service (SaaS) platform, to 159 medical practices in June 2020. Through September, physicians in these practices provided 374 allergy patients with a QHSLab-generated allergen immunotherapy prescription, generating an estimated $664,608 in revenue for these physicians’ practices. In November, building on the capabilities of our QHSLab, we began shipping allergy diagnostic related products and immunotherapy treatments to these physicians in response to their requests based upon courses of treatment recommended for their patients by QHSLab. Our revenue in the fourth quarter will be $120,000 as a result of these sales. Based upon orders in hand and reasonably anticipated, revenues from our allergy diagnostic test kits and treatment programs should exceed $300,000 in the first quarter of 2021. Revenues from this program should continue to increase thereafter as we increase the number of physicians and medical practices utilizing QHSLab.
Based on our QHSLab allergy treatment system’s success, we intend to increase our revenues by charging physicians a monthly subscription fee for the use of QHSLab. USAQ plans to introduce these physicians to additional point of care diagnostic, digital medicine, and treatments that our physician clients can use and prescribe. They will be paid under existing government and private insurance programs, based upon analyses conducted utilizing QHSLab.
The revenues we generated in the fourth quarter of 2020 and anticipated revenue in the first quarter of 2021 far exceed the revenue levels assumed by the equity research firm, Litchfield Hills Research, when it released its first analyst coverage report on USAQ. Litchfield Hills continue to rate our stock as a “buy” under its three-tiered rating system, with a target price of $5.00 per share.
