Biotricity Inc (OTCMKTS:BTCY) is much more than just investor’s flavor of the month, it is a medical technology firm committed to delivering innovative solutions which have potential to be very profitable in the mulita-billion dollar healthcare industry. In this piece, we provide details of the company and its recent innovation that has captured the interest of the market.Take a look at the stock’s price action below: BTCY Daily ChartCompany OverviewBiotricity, Inc. was established in August 2012 by Waqaas Al-Siddiq and Peter McGoldrick and its head office is located in Lynbrook, New York. The firm operates as medical technology firm which focuses on the development of biometric data monitoring solutions. The firm also provides remote biometric monitoring systems to its consumers in the medical market which includes diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Along with this, the firm focuses on delivering remote monitoring solutions to the medical, healthcare, and consumer markets which includes both diagnostic and post-diagnostic technologies for chronic and less critical illnesses.Currently, the firm is working on the development of its Bioflux mobile cardiac telemetry solution which provides continuing reimbursements to hospitals, doctors as well as independent diagnostic testing facilities; and with a revenue model that fits within the established insurance billing practices; built-in cellular connectivity; and motion tracking to sense activity, exercise, and disorientation. It also intends to develop Biolife, a lifestyle, and health solution for individuals.For more information on the company, take a look at our previous post here.Recent DevelopmentsBack in March 2018, a medical diagnostic and consumer healthcare technology company dedicated to delivering innovative, biometric remote monitoring solutions, announced it had made it’s the Bioflux product commercially available. Bioflux is the firm’s on-the-fly, high-precision mobile cardiac telemetry systems for customers. Bioflux’s innovative technology is intended to support in enhancing patient outcomes, identification of cardiac arrhythmias, and curbing healthcare costs.The system is set up to be a full system for cardiac monitoring and diagnosis, which consists of the Bioflux device proprietary software, and around the clock monitoring center which combines flawlessly with existing platforms for doctors and their workflows. Dissimilar to customary cardiac monitoring systems, Bioflux increases the support a patient gets at a care facility into the patient’s home. The device monitors a patient’s heart results in almost real-time, continually evaluating and recording data on the device and occasionally these records to the cloud through cellular technology incorporated in the system. Both asymptomatic and symptomatic patient symptoms are examined and scheduled for each patient throughout the period set out for monitoring. Previously, patient information from the cardiac monitoring systems was not assessed as quickly which led to delays which were potentially life-threatening. The Bioflux system functions as a medical device providing clinical data on the fly which is very useful in the diagnosis of cardiac arrhythmias.Founder and Chief Executive Officer of Biotricity, Mr. Waqaas Al-Siddiq explained that the solution was developed for cardiac patients who need continuous monitoring because until recently, short-term monitoring or admission of patients into the hospital for long-term monitoring was the norm. The technology behind this system was set up to address the challenge in a multibillion-dollar cardiac-monitoring space. Impressively, this handled in the most innovative way, the active and secure collection patient data while periodically uploading it for analysis all of which is done within the cloud.Financial PerformanceFor 2016, there no revenues reported, a trend which has continued from its first published results in August 2015. It is expected that in years to come, the firm will move out of this growth phase and generate revenues from the sale of its Bioflux and Biolife products.In the same period, operating expenses fell by minor 4.7%, an indicator that the firm may have marginally improved its operational efficiency. In the same year, selling, general and administrative costs rose fell by a negligible 2.5%. As there was no operating income, operating loss for the year was recorded at roughly $5.0 million. It should be noted that it is a regular trend for developing companies to be unable to generate revenues while still incurring costs in the growth years.Net loss for the year was $7.3 million, a drop from the prior year loss of $5.2 million with the income statement consisting mostly of its operating expenses and some additional expenses for the year.The statement of financial position reveals that the firm is very highly geared. On its books, its total debt is worth just $4.14 million, resulting in a low debt-to-equity ratio. Worryingly, it also has a very high liquidity ratio of 0.008. ConclusionWhile BTCY’s has demonstrated its innovativeness through the development of the Bioflux system, it has also shown its commitment to remain innovative with its soon-to-come Biolife solution.Disclosure: We have no position in BTCY and have not been compensated for this article.