SCWorx Corporation (WORX)

[cvinvestor]

Upon further review of SCWorx website, I'm betting on WORX coming out of this will continued test kit orders, whether or not it is 2M per week is anyone's guess, as long as the first shipment does arrive and Promedical of Australia is not a brilliant scam since they claim to be a leading manufacturer and distributor of health related products.

SCWorx software for healthcare, from their website, is all about Item Master integration and Virtual Inventory management etc. It's about anticipating supply and demand of the hospital and healthcare items used and setting up supply chain orders and using AI to anticipate needs and order in advance...

In other words, SCWorx has been working with their healthcare customers to set up and streamline product purchasing and inventory through their software. In the chaos of COVID-19 and the lack of PPE, SCWorx saw the opportunity to research and create a narrowly focused supply chain for their customers for lacking PPE. (CEO claims this is his background for years - supply chain issues.)

So all SCWorx had to do was find legitimate supply chain or manufacturers of PPE and Test kits for its vast customer demands and then tell its customers how to use their SCWorx system to set up the products and order. To avoid legal/tax issues I presume, they set up a 3rd party hospital escrow for the depositing of funds needed to place prepaid orders to the suppliers to get bulk orders.

Sounds very feasible to me. And this deal is in sync with their software and line of business. So if Promedical is legit and the tests are legit, we should get confirmation of the first 2M kits next week and an update as to whether or not any further orders will be placed. Since the country is looking to get back to work and on site testing is key, with the needs for kits to be potentially in the hundreds of millions with Abott ramping up to only provide 20M per month, there is a lot of room for other valid test kits to ease the market demand and they already have other 1500 healthcare customers using their software they say. So I'm holding on until something "official" says otherwise.

But thanks for whomever posted the negative news article. At least I know why it tanked today instead of going up.


WORX Product line

WORX Customers using their software system