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Nick Ofosio

Founder & CEO, FOMAT Medical Research · 1 appearance on the record.

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founderexecutiveLinkedIn ↗fomatmedical.com ↗

Nicholas Focil is the founder and CEO of FOMAT Medical Research, an embedded clinical research organization. He also founded FEBO, a health-management software application designed for chronic condition patients.

12statements → 4claims → 0claims resolved → 3.75/5average certainty → 1.25/5average debate potential → ≈4.0/5argument clarity, estimated →

4 not checkable as stated how the 4 claims stand · each chip opens the sources

4 assertions · 1 insight · 7 disclosures · every statement was checked. The predictions and assertions are the 4 claims: statements the public record can support or contradict. 0 are resolved, and 4 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Nick argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Nick Ofosio on measured tape to publish a rate. This says nothing about how they speak.

Everything Nick Ofosio said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight
Ofosio: Apple cannot effectively target niche chronic disease management
“Apple, for them to move the needle, they have to focus on a larger audience. And we are not focused on a larger, or like, you're not my customer. I mean, I don't know whether or not I'm assuming here, but we're, our customers are the chronic condition patients…”
Nick Ofosio Feb 28, 2022 ▶ 13:40 Why he raised $150k at $4m Pre Seed Round
Assertion Not checkable as stated
Ofosio: FEBO Health claims a $1.70 CAC versus $2.80 national average
“We're spending about the national average is two 80. We're right now at like one 70 something.”
Nick Ofosio Feb 28, 2022 ▶ 14:48 Why he raised $150k at $4m Pre Seed Round
Disclosure
Ofosio: FEBO Health raised $160k SAFE round at $4M valuation
“It was a 160,000. Safe round one at four million dollar valuation. And the, that was, that will take us to roughly about end of June.”
Nick Ofosio Feb 28, 2022 ▶ 1:41 Why he raised $150k at $4m Pre Seed Round
Assertion Not checkable as stated
Ofosio: FOMAT Medical Research generates seven to eight figures in revenue
“Yeah. So, you know, seven, eight figures. ... Somewhere around those figures. I mean, I don't want to enter into too much of those details if you may, if we may.”
Nick Ofosio Feb 28, 2022 ▶ 3:01 Why he raised $150k at $4m Pre Seed Round
Disclosure
Ofosio: FOMAT Medical Research invested $500k to $750k into FEBO Health
“I don't know how, I don't have any direct number for you. I would guess somewhere in five to seven 50.”
Nick Ofosio Feb 28, 2022 ▶ 4:13 Why he raised $150k at $4m Pre Seed Round
Disclosure
Ofosio: Angel investors own approximately 3% of FEBO Health
“About three percent.”
Nick Ofosio Feb 28, 2022 ▶ 6:28 Why he raised $150k at $4m Pre Seed Round
Disclosure
Ofosio: FEBO Health is double-encrypted and requires no email or name
“A, entirely anonymous, entirely encrypted, double encrypted. You don't need to even put a name to it. You don't need to put an email, like you don't even have to create. You can have it be entirely fake, or you can put a wall, like you can put a different pict…”
Nick Ofosio Feb 28, 2022 ▶ 8:55 Why he raised $150k at $4m Pre Seed Round
Assertion Not checkable as stated
Ofosio: Garmin reached out to FEBO Health for a partnership
“Garmin, for example, Garmin reached out to us for a partnership.”
Nick Ofosio Feb 28, 2022 ▶ 12:38 Why he raised $150k at $4m Pre Seed Round
Disclosure
Ofosio: FEBO Health delays monetization until reaching 100,000 users
“So in two to three years, we'll start opening it up. We're looking to get to a minimum threshold of about a 100,000 users.”
Nick Ofosio Feb 28, 2022 ▶ 14:13 Why he raised $150k at $4m Pre Seed Round
Disclosure
Ofosio: Founder owns 82% of FEBO Health, parent agency owns 5%
“So I don't own 87, I own 82. The agency owns five percent.”
Nick Ofosio Feb 28, 2022 ▶ 16:26 Why he raised $150k at $4m Pre Seed Round
Disclosure
Ofosio: FEBO plans second SAFE round at $8M valuation
“And then we're looking to raise safe round two. Our projection value at that point will be about eight million. We're looking to about total between the first round, which was three percent. Second round is about going to be six percent.”
Nick Ofosio Feb 28, 2022 ▶ 1:54 Why he raised $150k at $4m Pre Seed Round
Assertion Not checkable as stated
Ofosio: FEBO Health has reached roughly 14,000 app downloads
“We're right now about 14,000 downloads and growing.”
Nick Ofosio Feb 28, 2022 ▶ 10:12 Why he raised $150k at $4m Pre Seed Round

Appearances (1)

EpisodeDateSpeaking time
Why he raised $150k at $4m Pre Seed Round Feb 28, 2022 9m
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