“a formidable opponent”
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With this remarkably impressive crew on board; CloudTag is seeking to take the market by storm by introducing a game-changing technological device which their competitors could only dream of matching in terms of advancement. One key aspect of the CloudTag which grants it the boasting rights of true uniqueness; is its’ potential to revolutionize the health sector. This strongly advanced piece of technology could save the national health system a fortune by both tackling obesity and enabling doctor’s to view a patient’s heart pattern via Cloud-technology. It is no exaggeration to say that the CloudTag is truly a revolutionary addition to this ever changing technological advancing world we currently find ourselves in.
Special mention to @ who took the time to put the infographics together.
An impressive share price increase of 101.69% to date.
Due to the recent rise in the share price, CloudTag were forced to inform the market on recent share price movements with an update. On Friday 2nd September at 16:02 they released the following positive statement to the market;
“The Company continues to actively progress its business strategy of commercialising its proprietary IP and technology, including the CloudTag Track wearable device. The Company will provide a quarterly commercial update to shareholders in due course following the previous Commercial Update on 9 June 2016.
Further to this announcement, the Company can clarify that Second Chance Limited (“Second Chance”) maintain their exclusivity to distribute the CloudTag Track in the EU and UK. The Commercial Update dated 9 June 2016 stated that the initial product delivery requirements with retailers and etailers had not then been concluded and, accordingly, orders for Q1 and Q2 agreed with Second Chance were allocated to H2 2016. These requirements have now been concluded and the current discussion is focussed on launch exclusivity periods.
The Board is currently optimistic that the sales targets agreed with Second Chance will be achieved but there can be no certainty of this.”
Usually when this happens, companies declare that they “know of no reason for the rise in share price” Much like CloudTag had to back in May here
On the 12th, we received another update to the market to announce another fund raise for £500,000 (Premium of 100% up from 8 trading days prior to the news) was raised, and that the company will be air freighting the product to the distributors warehouses – Second Chance LTD who are discussing the exclusivity periods to launching the product with 3 of the biggest retailers / e-tailers in the UK.
Bhav Dattani joins the team after a successful career at competitor Jawbone, heading up the UK, Ireland & Indian territories and will be working closely with Second Chance LTD on the exclusivity periods for product launch as well as identifying new opportunities for CloudTag.
Rana Chatterjee has been appointed as Chief Legal Counsel. One of Rana’s areas of expertise is dealing with general commercial agreements, such as; Service agreements, licensing arrangements and sales contracts. The company make it very clear in their opening statement in the RNS dated 2nd September “The Company continues to actively progress its business strategy of commercialising its proprietary IP and technology, including the CloudTag Track wearable device.”
September 12 RNS
“The company that brings personal monitoring to the weight loss, wellbeing, fitness and digital health markets is pleased to announce an operational update and a placing to raise £500,000 net of expenses.
2016 has, to date, been an extremely active year for CloudTag. Our first product was launched at the CES 2016 and since then product development for our first generation wearable fitness tracker has been completed.
CE & UL marks for the product, which confirm the product meets EU and USA health, safety and environmental requirements were obtained at the end of 2015 and more recent product developments have also conformed to these product standards.
CE Mark is required on products being marketed in the countries of the European Economic Area to facilitate trade among the member countries whilst guaranteeing transparency and safety on European Markets. Every country in Europe has its own market access requirements however the majority of European requirements are similar to the international and UL can guide you through the whole process of achieving compliance.
Following on from the Company’s operational update on the 16 June 2016, the Company has now completed its switch to a high volume manufacturer in Malaysia. The new manufacturer is capable of meeting our anticipated production needs for the foreseeable future. We have arranged for stock to be airfreighted directly to our distribution partners’ warehouses.
As previously announced, we entered into an agreement with Second Chance, a specialist distributor of sports related technology and accessories, in January 2016. Also as previously announced, Second Chance is currently discussing the award of an exclusivity period with three potential major retailers/etailers in the UK. Alongside these discussions, Second Chance is continuing discussions with potential customers in order to build the order book for H2 2016 and beyond. It should be noted that CloudTag’s customer is Second Chance who then on sell to the retailers and etailers.
We are delighted with the progress made in recruiting a highly reputable in-house team. We now have specialists in product development, industrial design, user interface, manufacturing, sales, branding and marketing. Further to the Operational Update of the 16 June 2016, we are also pleased to announce today the appointment of Bhav Dattani who will lead our European sales team. Bhav will initially focus on identifying new routes for consumer sales as well as B2B enterprise opportunities whilst assisting Second Chance in the exclusivity discussions referred to above. Bhav brings with him many years of relevant industry experience having previously been the Head of Sales for UK, Ireland and India at Jawbone, a world-leader in consumer technology and wearable devices, for 8 years and also having previous experience with global consumer electronics companies such as Oregon Scientific and Sony UK.
Additionally, the Company has appointed Rana Chatterjee as Chief Legal Counsel. Rana’s appointment is in line with the increased commercial activities in both the EU and the US. Furthermore, as previously announced, the Company continues to build its operations in the US supporting its commercial activities with CITIES Market Studios. We look forward to updating shareholders on progress in the US in future announcements.
As a rapidly growing business, the Directors maintain a clear focus on the working capital requirements particularly as we continue to build the team and prepare to finance stock production. Cloudtag has, to date, been successful in raising additional capital from investors with £2.93 million (including the subscription for £500,000 as further detailed below) having been raised since 1 April 2016. In addition, the Company is in the process of putting in place trade finance facilities to facilitate increased production levels if required. Furthermore, our manufacturer will fund production costs up to the point that the product is shipped to the Company or distributor.
As previously announced, the Directors have noted that there have been significant volumes of trading in the Company’s shares in recent weeks. As indicated in this update, good progress is being made on all fronts but it should be noted that Cloudtag is entering a highly competitive market and faces many challenges commonly associated with such entry. Plans have been put in place to address such possibilities and we are confident that our team has the skill and determination to resolve any such possibilities should they arise.
The Board is pleased to announce that it has raised £500,000 net of expenses through the issue of 4,347,827 new ordinary shares (“Shares”) at a price of 11.50 pence per Share. This compares with the mid-market closing price of a Cloudtag ordinary share on 9 September 2016 of 11.125 pence. The funds will be used for general working capital purposes.
Application will be made for the admission for the 4,347,827 Shares to trading on AIM and it is expected that dealings in the Shares will commence on or around 16 September 2016. The Shares will rank equally in all respects with the Company’s existing ordinary shares.
Following the issue of the Shares, the total number of ordinary shares in issue is 361,879,152. This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.”
Welcome to Bhav and Rana!
Update 21 / 09 / 2016
The company that brings personal monitoring to the weight loss, wellbeing, fitness and digital health markets is pleased to announce the appointment of Yuval Lange as chief business development officer.
Yuval’s primary focus is to expand the Company’s strategic B2B opportunities particularly in the UK and EU in addition to growing the Company’s B2B operations in the USA with further recruitments. He brings the required skill set and expertise which will enable the Company to capitalise on the unique market proposition based on our proprietary technology.
Yuval has over 15 years of experience in the Technology, Media and Telecoms (TMT) sectors, leading complex projects and developing commercial engagements in various companies. In his recent role, he managed the product development teams for a pan-European network operator, overseeing a significant geographical expansion of a fibreoptic network. Previously, Yuval was part of the core team that launched BT Sport TV in the UK, responsible for the B2B sector, and he was the commercial lead for BT’s consumer devices business unit. Yuval holds an MBA from INSEAD and a BSc in Computer Science from the Technion in Israel.
As as reminder of the size of the market that this team are entering, and the possibilities of share that can be achieved;
As a species, we are getting fatter. There are 400 million adults worldwide who are obese and one billion who are overweight. Children are getting fatter too. Worldwide, 17.6 million children under five are estimated to be overweight. If you are overweight you may develop hypertension, diabetes and atherosclerosis. These conditions will put you at high risk of cardiovascular disease.
Staggering stats show that more than 1.9bn adults were overweight in 2014 and 13% were obese globally.
CloudTag Short Term Market Opportunity:
• In the US 69% of the population is either overweight or obese with associated costs to the national and private health care bodies of around $147 billion6 (£101 billion)
• In the UK 60% of the population is either overweight or obese with associated costs to the national and private health care bodies of around £27 billion7
• In Germany 54.8% of the population is either overweight or obese with associated costs to the national and private health care bodies of around €4.8 billion8 (£3.8 billion)
The largest share of the weight loss market is male and female, aged between 25 and 55 who are overweight or obese
CloudTag’s user typically spends money on weight loss products and apps and is interested in losing weight, getting toned and feeling healthier
CloudTag’s algorithms developed specifically for CloudTag and its use case by imec International a shareholder of CloudTag
• imec’s IP and proprietary clinical algorithms, developed over 11 years, including, but not limited to, the following:
• ECG, Heart Rate and Heart Rate Variability
• Energy Expenditure algorithm
• ECG Derived Respiration
• Atrial Fibrillation
• Physical Activity Detection
• Personalisation of Physical Activity and Energy Expenditure to the individual
“Personalisation of device algorithms calculating the user’s cardiorespiratory fitness level and adjusting the derived calculations (e.g. energy expenditure) accordingly “
“Accurate energy expenditure (calories) calculation comparable to the industry gold standard”
“Advanced activity tracker when moved to second location for advanced activity tracking”
“True 24/7 wearability”
“Responsive personalised cardiorespiratory fitness level to allow for increased accuracy of energy expenditure”
“Machine learning using unique algorithms to provide a truly personalised experience for the user”
“Accuracy is the key differentiator for CloudTag and we are very pleased with the results generated from the proprietary algorithms. We have been working with Essex University’s Sport and Performance Unit to conduct third party independent validation tests of the wearable device and algorithms against the industry gold standard ECG and calorimetry equipment. These independent user tests have shown extremely positive results with energy expenditure (calorie burn) tracking between 91% and 99% from the gold standard at rest, running and walking activities (using CPX measured indirect calorimetry) and Heart Rate is tracking between 98% and 99% for 60 second intervals against a clinical ECG machine during rest, running and walking activities”
“The IP portfolio and exclusive agreements with shareholders that we have in place are not the only barriers to entry for the competition. CloudTag also possesses a wealth of engineering know-how developed within the Company over the last nine months. A further barrier to entry is CloudTag’s development of a complete system based on psychology and sociology, which empowers the user to reach their fitness goals. We refer to this approach as ‘the user journey’ and it uniquely motivates each user, but in an unobtrusive and minimally invasive manner.”
Click here for Key Points From VOX 593
No investment advice is intended and you should always do your own research. I am not qualified to give financial advice you should always consult with a professional financial adviser if you are looking to invest into the stock market. The shares can go down and you can lose your initial and whole investment. Good luck.