Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
China Software International (00354.HK): Beijing Chinasoft International intends to transfer 50.83% of Shenzhen Kaihong’s equity, Shenzhen Kaihong receives a total capital injection of 200 million yuan.
source
https://cj.sina.com.cn/articles/view/5115326071/130e5ae7702001jqt4
Gelonghui APP at 22:12 on December 23, 2021
China Software International (00354.HK) announced that on December 23, 2021, Beijing Chinasoft International and Hongju Innovation entered into an equity transfer agreement. According to this, Beijing Chinasoft International has agreed to transfer and Hongju Chuangxin has agreed to acquire and transfer equity interest (equivalent to approximately 50.83% equity interest of Shenzhen Kaihong) at a consideration of RMB 76.25 million. Among them, Hongju Innovation is Shenzhen Kaihong’s employee stock ownership plan, and its equity plan will be all allocated to Shenzhen Kaihong’s employees within two years.
On the same day, Beijing Chinasoft International, Yixin Technology, Hubble, CCB Chinasoft International, Hongju Innovation and Shenzhen Kaihong entered into a Shenzhen Kaihong Capital Injection Agreement. According to this, Hubble, CCB Chinasoft International and Hongju Innovation have agreed to deal with Shenzhen Kaihong. Kaihong injected a total of RMB 200 million in equity capital.
After the completion of the equity transfer agreement and the Shenzhen Kaihong Capital Injection Agreement, Shenzhen Kaihong will no longer be a subsidiary of the group, but the group will, through its 99.90% partnership interest in CCB Chinasoft International, own approximately 19.50% indirect actual equity interest.
Shenzhen Kaihong is headquartered in Shenzhen. Its mission is to become the flagship developer of the core operating system based on OpenHarmony, and to do business based on the open source Hongmeng operating system release.
The company has been working with various parties on the development of the OpenHarmony operating system release and has launched various strategic cooperations on the application of the OpenHarmony operating system release to thousands of industries. OpenHarmony is an open source project incubated and operated by the Open Atom Foundation. The goal is to face the era of full scenarios, full connectivity, and full intelligence. Based on open source, it builds a framework and platform for smart terminal device operating systems to promote The prosperity and development of the Internet of Everything industry.
These transactions will be able to
- (i) build a high-tech product business with root technical capabilities centered on a domestically-made smart IoT operating system;
- (ii) use product business to extend and build an ecological enablement centered on a domestically-made smart IoT operating system Business, and lead to build a more solid cornerstone business, so as to build ABG's multi-level, full stack, interactive development and all-round growth business structure covering products, ecological enablement, cornerstones, and form new business growth points;
- (iii) Multi-level The full-stack business structure will drive the strategic depth of building a talent development channel, realize the sound development and flow of talents in the cornerstone business, ecological enabling business, and product business, enhance the advantage of talent attraction, strengthen the company's talent capital, and effectively help the multi-level full-stack Interactive development and overall growth of the business; and
-(iv) Using technology to guide the cornerstone business to the integration of software and hardware, 2B to 2C, a larger-scale market development, improve delivery capabilities, better serve strategic customers, and achieve Further high-quality and large-scale growth of the cornerstone business.
Goldman Sachs: reiterated that China Software International (00354) "Buy" rating target price rose 8% to 23.6 Hong Kong dollars.
source
https://cj.sina.com.cn/articles/view/5835524730/15bd30a7a0200154o6
December 15, 2021 11:03 Zhitong Finance APP
Zhitong Finance APP learned that Goldman Sachs released a research report stating that it reiterated the “Buy” rating of China Software International (00354). 20%/18%, the operating profit margin will be adjusted from 7.5% in 2021 to 13.2% in 2025, and the target price will be raised from HK$21.81 to HK$23.6.
According to the report, after Chinasoft International’s rating was upgraded to “Buy” in July, the revenue of cloud services that provide financial institutions and governments with big data services is expected to increase by 1-5% in 2022-25. Therefore, this time Increase the target price. As confidence in the outlook for 2022-23 increases, especially the diversified customer base and business upgrades, the stock is added to the list of sure buys. In addition, despite the low profit margin of IT services, strong demand and policy-driven, it is expected that the company's fundamental structural upgrade will support future revenue growth.
Video - Example of holographic application in entertainment.
source
SlashGear Video Review
Capstone Connected Thin Cast Smart Mirror Review - SlashGear
source
Grasping ESG investment trends, Zhuyou Intelligent Manufacturing Technology (0726.HK) highlights its sustainable development capabilities.
source
https://cj.sina.com.cn/articles/view/5115326071/130e5ae7702001jcn4
December 10, 2021 19:01 Gelonghui APP
In the context of my country’s economy shifting from rapid development to high-quality development, more and more visionary people are beginning to agree that only achieving sustainable development of the economy, society, environment, and enterprises can achieve the Pareto’s best. Excellent solution.
On December 10, 2021, Gelonghui "The 3rd Greater China Best Listed Company Award Ceremony" was held in Shenzhen. Zhuyou Intelligent Manufacturing Technology won the "Best Sustainable Development Company" award for its outstanding performance in ESG. The current ESG performance has gradually become an important factor for professional investors to measure the investment value of listed companies. May wish to take this opportunity to take a closer look at why Zhuyou Zhizao Technology has won this award.
Carbon neutrality is the greatest certainty of the ESG concept, and prefabricated buildings benefit first.
First of all, it needs to be clear that ESG is a very broad concept, and it is a new value concept that focuses on the environment, society, and corporate governance performance. It emerged in Europe in the last century. As my country's capital market gradually improved, it began to affect my country's market. Since the beginning of this year, the tightening of regulatory policies in education, Internet, gaming and other industries has been affected by related factors, and the final effect on the capital market is also obvious to all.
It is worth mentioning that due to differences in history, culture, and systems between the East and the West, the understanding of Chinese and foreign investors is different in terms of specific performance, especially in social and corporate governance. For example, China is more concerned about Whether it meets the major premise of "common prosperity", the West is more concerned about ethnic diversity.
But for the environment, the two sides have the greatest consensus, and "carbon neutrality" is precisely the concentrated expression of this consensus. Therefore, for Hong Kong stocks, a market where domestic and foreign capital are equally important, carbon neutral concept stocks can be favored by the most ESG funds in the market, and they also have more room for valuation improvement.
Carbon neutrality involves a wide range of industries, but the construction industry should undoubtedly be the first to be worthy of attention. According to the "China Building Energy Conservation Annual Development Report 2020", the total carbon emissions of the construction industry in the entire process reached 4.93 billion tons of carbon dioxide, accounting for 51.3% of the country's carbon emissions. If such an ultra-high energy consumption industry achieves the development of low energy consumption or even net zero energy consumption, it will be of great significance to the completion of my country's carbon neutral plan.
The prefabricated building is precisely the necessary carrier for building carbon neutrality. It processes the components in the factory and then takes them to the construction site for assembly, which greatly reduces material consumption and waste generation, which is in line with the general direction of the construction industry's transformation to modernization and cleanliness. According to data from Northeast Securities, prefabricated buildings can reduce carbon emissions by 25KG per square meter compared to cast-in-place buildings.
At present, the penetration rate of prefabricated buildings in my country is only 20%, and the data in developed countries such as the United States, Japan, and France all exceed 80%. In contrast, prefabricated buildings in my country still have broad room for improvement. According to the national plan, the proportion of prefabricated buildings in my country will reach 30%.
Judging from the current types of prefabricated buildings, the proportion of concrete structures has continued to increase. As its cost further drops, the share of concrete structures is expected to increase further. As one of the main players of PC components (concrete components) in China, Zhuyou Intelligent Manufacturing Technology is benefiting from the core target of the development of prefabricated buildings. In the first half of this year, its PC component revenue increased by 26.4% year-on-year, and its sales contract value soared by 369.5% year-on-year.
It should be noted that the huge market increment space has also attracted many competitors, which is also necessary for the healthy development of the industry. To obtain the long-term maximum industry dividend and achieve growth, the company needs to continue to build its core competitiveness.
Conform to the trend of digital intelligence, actively research and develop to consolidate the advantages of the entire industry chain.
From a long-term perspective, as the production capacity on the supply side continues to increase, industry competition is intensified. According to the law of manufacturing development, the period of stock competition is when cost and efficiency are compared. For companies with a single business development, there is profitability. Limited possibilities.
In view of this, Zhuyou Zhizao Technology has chosen the entire industry chain layout from the beginning, covering multiple types of businesses such as design, component manufacturing, decoration, and gardening. Diversified business layout is conducive to the steady growth of the company's long-term performance. More importantly, opening up the upstream and downstream information links enables a single project to start from the overall perspective, improve the degree of standardization, and achieve the purpose of reducing costs and increasing efficiency.
To continuously consolidate and give full play to the advantages of the entire industry chain, the first thing is to continuously improve the company's entire industry chain research and development level, which is another major advantage of Zhuyou Intelligent Manufacturing Technology. It can be seen that Zhuyou Intelligent Manufacturing Technology has completely independent intellectual property rights in the six major building industrialization technology systems, including
architectural design,
intelligent manufacturing,
on-site assembly,
decoration,
new materials, and
building information.
As of October 31, 2021 , It has applied for 1887 patents and 1288 authorized patents, ranking first in the industry in terms of number.
Focusing on the continuous research and development of the entire industry chain, Zhuyou Smart Manufacturing Technology integrates its own technology-material reduction application and substitution (RIFF system, large-span prestressed laminated board, solid waste material recycling, etc.), advanced equipment production lines, Through the integration of design, manufacturing, and assembly, manufacturing process technology, smart construction, assembly-style decoration, and digital-intelligence management platform, etc., solve the problems of coordination and connection between technology chains in the whole process of engineering construction, and form a system-integrated production The operating system provides real estate companies with complete and sustainable green building products (residential, public buildings) that can reduce carbon emissions.
For example, in terms of research and development, the company’s self-developed RIFF structural system can reduce carbon emissions by 52.98-83.57 kg per square meter compared to conventional traditional cast-in-place structural systems; in the production and operation of PC factories, the use of renewable energy and Efficient use of energy, advanced equipment production lines and manufacturing technology, a green PC factory with a construction area of ??about 20,000 square meters, can reduce carbon emissions by 946 tons per year; in the application of green materials, use high-performance materials that can replace cement, Solid waste recycling, concrete composite early-strength and low-energy production technology, each typical component concrete can reduce carbon emissions by 45.16 kg, and explore the promotion of the use of gypsum mortar, A-level thermal insulation and decoration integrated exterior wall panels and ceramic tile dry wall panels, etc. Compared with traditional materials of the same type, carbon emissions can be reduced by 147.7 kg/m2, 1.125 kg/m2 and 84.4 kg/m2 respectively.
These are the results of Zhuyou Intelligent Manufacturing Technology actively embracing the development direction of the industry and insisting on the development of digital intelligence.
For a long time, my country's construction industry has been in a state of large but not strong, with problems such as low design level, backward organization, disconnected industrial chain links, and fierce low-level competition, which have affected the profitability of enterprises. In the context of the current economic dominance of the information industry, the construction industry, a pillar industry with an output value of ten trillion yuan, will inevitably move towards digital and intelligent transformation.
This is also the logic behind the continuous investment in R&D and innovation of Zhuyou Intelligent Manufacturing Technology, a pioneer in the industry. The sub-projects of the "13th Five-Year" national key R&D plan that he is responsible for have passed the acceptance of the expert group. The flexible manufacturing technology of components can increase the production capacity by more than 30%. The research and development of the intelligent factory digital intelligent management platform can help control the factory data and improve efficient. Through the extensive application of the digital intelligence platform, Zhuyou Intelligent Manufacturing Technology can better save labor costs, reduce resource consumption, and improve business quality.
Of course, the transformation of digital intelligence requires the joint efforts of the entire industry. Relying on its full production chain advantages, Zhuyou Intelligent Manufacturing Technology is also accelerating the construction of an industry ecosystem platform. In August of this year, Glodon, the leading engineering cost software, invested 288 million Hong Kong dollars to invest in Zhuyou Zhizao Technology, with a shareholding ratio of 9.67%, becoming the company's second largest shareholder. It is foreseeable that the combination of Glodon's digital solutions and the industrialized technology system of Zhuyou Intelligent Manufacturing Technology will not only promote the acceleration of the industry's upgrading and transformation, but also bring more business growth points to the company.
Write at the end
The ESG investment philosophy seems to only consider the value of the company in terms of non-financial factors, but it is not. Companies with higher ESG scores can often obtain better internal and external resources, better innovation capabilities, and higher risk management capabilities, so as to achieve better profitability and lower financing costs, that is, from the non-financial level to the financial level Penetration, which in turn promotes the enhancement of corporate value.
Zhuyou Intelligent Manufacturing Technology takes advantage of the prefabricated building, which is in line with the characteristics of current ESG investment. It combines its own unique advantages and has high long-term performance growth and certainty. However, the current PE valuation of less than 15 times cannot be completely completed. React to this. If you refer to the research report of Anli Securities, based on its performance expectations for Zhuyou Zhizao Technology, it is given 11.6 times PE in 2022, with a target price of 1.5 Hong Kong dollars. Compared with the current stock price, there is more than 70% upside potential.
Inheriting the red gene, creating a digital iron army | ChinaSoft International Party Committee and Disciplinary Committee were formally established!
source
http://www.chinasofti.com/news/2314.htm
2021-12-10
On December 8, the ChinaSoft International Party Member Conference was successfully held. Chen Yuhong, Chairman and CEO of ChinaSoft International, Tang Zhenming, Executive Director, Senior Vice President, and General Manager of the Party Committee Office of ChinaSoft International, Cao Yan, Senior Vice President of ChinaSoft International and President of Technology and Professional Services Group, and representatives of regional party branch secretaries and party construction commissioners Participate in the meeting and witness the official establishment of the ChinaSoft International Party Committee and Disciplinary Committee in the solemn national anthem!
Tang Zhenming read out the "Approval for the Approval of the Establishment of the Party Committee and Disciplinary Committee of Chinasoft International Co., Ltd." issued by the Non-public Party Building Office of the Zhongguancun Science City Work Committee of the Beijing Municipal Committee of the Communist Party of China. After a fair, just and transparent election, five comrades Wang Xuejuan, Chen Yuhong, Hao Lishu, Tang Zhenming, and Cao Yan (in order of surname strokes) received more than half of the party members who participated in the election and were elected as members of the first party committee; Li Qingzhi, Hao Lishu, and Jiang Mengting (in order of strokes of surnames) totaled 3 comrades who received more than half of the party members who participated in the election and were elected as members of the first Commission for Discipline Inspection.
In his speech at the conference, Chen Yuhong quoted General Secretary Xi Jinping’s saying that “it’s easy to get at the beginning, but always difficult to keep”, and fully integrated the party’s century-old historical experience and the ten “persistences” proposed by the Third Plenary Session of the 19th Central Committee with the development of corporate organization and business development. Share my in-depth understanding of "let the Communist Party members become the backbone of the digital iron army".
"Adhere to the leadership of the party, insist on daring to fight, insist on independence, and insist on the united front." Emphasize that Marxism has found China and successfully landed in China. Among them, "persistence to dare to fight" is the most important feature. Marxism injects struggle into Chinese culture. Revolutionary ideas such as "policy out of the barrel of a gun" and "armed revolution" are important manifestations of "persistence to dare to fight". Marxist philosophy is the philosophy of struggle, and we insist on leadership, organization, and combat effectiveness in struggles. At the cadre meeting at the beginning of the year, we proposed that if oriental culture becomes the mainstream culture of the world in 30 or 50 years, the party’s history will become particularly valuable. For ChinaSoft International, upholding the leadership of the party means building corporate leadership, organization and combat effectiveness. "Adhere to the people's supremacy, adhere to the Chinese road, and adhere to the world in mind" is a generalization of Chinese culture. The prerequisite for the path of socialism with Chinese characteristics is to adhere to Chinese characteristics. The thoughts of self-cultivation, family harmony, country governance, peace of the world, and the world for the public in the cultural genes of thousands of years are consistent with each other. The development of Marxism and socialism in this land of China is closely related to the "world for the public" in our cultural DNA. It is also the feelings of family and country behind the entrepreneurial spirit seen in China today. If the strength of religion is behind the development of Westerners, we rely on Confucianism, which is more essential and more scientific. This is also the foundation for the continuous progress of generations of Communists and Chinese. "Insist on theoretical innovation, persist in pioneering and innovative, and persist in self-revolution" emphasizes that our party can rely on inner-party democracy and self-revolution to break the law of historical cycles and achieve sustainable development. Our party’s centuries-old development wisdom is condensed into these ten sentences, covering the struggle of Marxism, the feelings of the family and the world, and self-revolution, among which self-revolution is closely related to the development of enterprises.
Enterprises insist on self-revolution and achieve entropy reduction. They need to give full play to the backbone of party members and promote self-reform of the organization. This is also an important practice for "letting party members become the backbone of the digital iron army." At present, all employees of the company formulate the strategic plan SP302, first of all, it is necessary to clarify the organizational positioning. Until the completion of the five-year plan in 2026, the basic nature of ChinaSoft International is still an efficient organization, an organization that locks in major customers with the lowest cost. At this stage, employee relations and learning and development will be two very important modules. The creation of a digital iron army starts with the learning and development of party members and the entire staff. Comrades in arms and colleagues learn and develop, and ChinaSoft International is committed to cultivating elite talents and backbones for the development of the motherland.
Based on the organizational positioning and SP302 this year, we insisted on working with customers as one, proposed proactive performance management, and put forward higher requirements on ourselves from the customer's standpoint, and passed on the spirit of "being persevering and being honest" to all levels of organizations, and improving beyond tactics. Organizational capabilities, to achieve the upgrade of organizational dimensions, make habits become beliefs, and create a digital iron army that serves customers and empowers the industry. Taking the establishment of the party committee as an opportunity, we must closely integrate party building with corporate organization building, closely integrate party building goals with corporate development goals, give full play to the professional capabilities of party members as the backbone, penetrate into all business levels, and empower the company to become a " The provider of high-quality resources, the deliverer of stable and high-quality, the co-builder and guardian of the product, the best overall cost, and the executor of internal control management".
Tang Zhenming, as the representative of the first party committee, made a statement at the conference. First of all, the party committee must advance the party building work on behalf of the company and build a digital iron army. As a party committee of a non-public organization, our key work is to serve the company’s strategic landing. Party members must "charge the front and enjoy the back". Always play an exemplary role and become the "locomotive" and "engine" of Chinasoft International's "Red Iron Army". Secondly, we must continue to strengthen the construction of the party member team. On the one hand, we actively encourage the old party members and key party members of the company to take the lead in transferring to the party organization relationship. On the other hand, we must vigorously develop new party members and enhance the vitality of the organization. Third, it is necessary to give full play to the role of the existing four general party branches and 15 party branches, continue to organize party members to study, and transform party history and military history studies into a series of activities to continuously improve the political literacy of party members. Fourth, the disciplinary committee was established at the same time at the conference. We will combine the work of the disciplinary committee with the integrity supervision work, further strengthen the integrity of the company’s content, punish corruption with a zero tolerance attitude, ensure the integrity of party members and cadres, and conduct corruption in the company. Crack down hard.
The original intention is easy to get, but it is always difficult to keep. ChinaSoft International held high the red flag of party building and took the establishment of the party committee and the discipline inspection committee as an opportunity to take the struggle spirit of Marxism, the feelings of the country and the world, and self-revolution as the sustainable driving force for the party building of non-public enterprises, and adhere to the clear style of honesty and integrity of the Chinese Communists. True character, earnestly implement the party’s basic lines, guidelines and policies, and promote the healthy and stable development of the company with high-quality party building; at the same time, it emphasizes integrity and integrity as the unchanging character of Communists and the red gene passed on from generation to generation, to create a red "digital iron army" , Let "invincible" become the faith of the digital iron army, let the "red culture" be integrated into the blood of the digital iron army, and let the "Communist Party members" become the backbone of the digital iron army, and provide guidance and guarantee for the new journey of enterprise development and digital transformation in China Contribute!
@ Frenchy2016 Unfortunately, WIMI is also in danger of being removed from the New York Stock Exchange.
The second half of 2021 has so far been going differently than planned for investors and shareholders of Chinese companies. Despite strong fundamental data and good growth forecasts, regulatory restrictions imposed by the Chinese government and the fear of delisting on the US stock exchanges keep causing waves of sales and putting enormous pressure on prices. For example, some Chinese companies are now quoting far from being fairly valued and are cheap compared to the competition. The adage of stock market legend Warren Buffett "Buy a dollar but never pay more than 50 cents" seems to have become a reality in China.
After the recent balance sheet scandal involving China's largest coffee shop chain Luckin Coffee, the United States actually focused on the transparency of Chinese companies. The US Senate has passed the "Foreign Company Accountability Act". The aim is that Chinese companies that are listed in the form of American Depositary Receipts (ADRs) in the USA lose this listing if they do not withstand the review by the PCAOB (Public Company Accounting Oversight Board) for three consecutive years. The crux of the matter is, among other things, the condition that the PCAOB should have access to the examination documents of the auditors in China. This in turn contradicts Chinese law - with the result that companies like Alibaba are striving for a second listing in Hong Kong in order to relocate their trade. This also explains why many investors are currently being offered an exchange of their US-listed ADRs for Chinese stocks. Delisting Chinese ADRs is therefore a risk that should not be underestimated. You should therefore consider converting your ADRs into stocks listed on the Hong Kong Stock Exchange, but not without first investigating the conversion costs involved.
Here are some reports on the current situation.
July 30, 2021
US sets new disclosure rules for Chinese IPOs coming to its stock markets.
Securities and Exchange Commission says Chinese firms will be required to divulge the listing of shares through a shell company that is outside China.
The move is a loophole that has been used for years by China’s large tech companies.
https://www.scmp.com/news/china/article/3143265/us-sets-new-disclosure-rules-chinese-ipos-coming-american-stock-markets?module=hard_link&pgtype=article
September 15, 2021
Chinese firms should face faster US stock delisting over audit rules, SEC chairman Gary Gensler tells lawmakers.
The top US securities regulator says he supports a bill in Congress that allows for faster removal from American markets for not complying with disclosure rules.
Lawmakers and the financial industry have pressed the SEC to force Chinese companies to improve disclosure standards.
https://www.scmp.com/news/china/article/3148767/chinese-firms-should-face-faster-us-stock-delisting-over-audit-rules-sec?module=hard_link&pgtype=article
October 27, 2021
U.S. Ban on China Telecom Signals Broad Concern Over Beijing.
A U.S. ban of China Telecom (Americas) Corp. by regulators shows that broad concerns about Beijing persist in Washington, even as the Biden administration takes steps to improve communications between the world’s biggest economies.
https://finance.yahoo.com/news/u-cranks-beijing-tensions-again-202846088.html
November 25, 2021
China wants to end the compulsory delisting of its companies in the USA
China wants to stop the forcible deletion of its companies from the US stock exchanges.
"We are working very hard to resolve the issue with US counterparts," Shen Bing, director general of the international affairs department of the China Securities Regulatory Commission, said Thursday. Communication between the authorities is currently running smoothly and openly. Nevertheless, there is a risk that the companies will forcibly disappear from the course list. "But we are working very hard to prevent this from happening."
The US Securities and Exchange Commission is driving a project by former US President Donald Trump. A law signed by him provides for the compulsory removal of foreign companies from the US stock exchange if they do not meet certain requirements. According to the regulations published by the SEC, companies must prove, among other things, that they are not controlled by a foreign government. How the information from the companies will be checked and the trade in the papers stopped has not yet been finally decided. The Trump law is aimed primarily against Chinese companies.
At the beginning of the year, the New York Stock Exchange initiated the deletion of three Chinese telecom companies from the price list - China Telecom, China Mobile and China Unicom.
December 3, 2021
US moves a step closer to delisting Chinese companies on American stock exchanges.
The SEC is seeking a new law that mandates foreign companies open their books to US scrutiny or risk being kicked off the NYSE and Nasdaq.
China and Hong Kong are the only two jurisdictions that refuse to allow the inspections despite Washington requiring them since 2002.
https://www.scmp.com/news/world/united-states-canada/article/3158245/us-moves-step-closer-delisting-chinese-companies
WIMI Announces the Release of "WiMi HoloVR "to Enhance User Experience in the Metaverse.
source
https://finance.yahoo.com/news/wimi-announces-release-wimi-holovr-130000032.html
Wed, December 8, 2021, 2:00 PM
WiMi Hologram Cloud Inc. (Nasdaq: WIMI, a leading global application solution provider of holographic augmented reality ("AR") , today announced release of a new Virtual reality (VR) head-mounted display (HMD) product for the consumer market, named "WiMi HoloVR" to further strengthen the software and hardware research and development of the underlying holographic technology and expand the user experience of holographic VR technology in Metaverse.
The new head display device "WiMi HoloVR" is the first VR device that supports double-clicking See through in China. It adopts the leading color SEe-Through dual-camera scheme, which has a 105 degrees visual Angle, and supports SLAM spatial positioning and gesture recognition. Perfectly adapted to hand 6DoF positioning technology, with unlimited application expansion space; Gamepad VR gamepad using broadband vibration technology, it can imitate a variety of vibration experience, providing a 0-1000Hz frequency point response with less than 10ms latency, and supports the official SDK program. It is worth mentioning that, under the background of people's concern about health, the product's handle has added a heart rate monitoring function; The product adopts Qualcomm Snapdragon XR2 processor, with the display resolution of 3840X2160 standard 4K level, 1058PPI, ultra hd picture quality, ultra-hign refresh rate of 90Hz, ultra-low delay, and smooth game experience. Diopter adjustment scheme, focusing left and right eyes separately, myopia users below 800 degrees do not need to wear glasses; Ultra-light and ultra-thin Fresnel lens, optical module only 35g, super large Angle of view 110 degrees, perfect immersion experience. Use 6000mAh large capacity lithium battery, can support more than 3 hours of game time. In addition, the battery life can be extended to 9000mAh and the service time can be increased to more than 5 hours through the official launch of the fun headset. Beamforming transmission technology, perfect restoration of high-quality audio sources, to providing extremely optimized auditory experience. Perfect support for wireless and wired streaming mode, support Wi-Fi FI5 wireless streaming and 5G module, streaming Steam mass content. The device is expected to be the main entry point for new metaverse holographic VR technology in communication, social and entertainment interactions.
Shuo Shi, the Founder and Chief Executive Officer of the Company said, "WiMi HoloVR, accelerates the process of image color management, connectable devices, and wearing experience, which builds a solid foundation in the expansion of the Metaverse scene. With the popularization of Metaverse and technological breakthroughs, people's demand for AR and VR products will continue to grow. WIMI's holographic XR(AR/VR/MR) head-mounted display product, likeWiMi Hologram SoftLight and WiMi HoloPluse LiDAR, has been licensed and approved by the Federal Communications Administration (FCC) to enter the US market. The new WiMi HoloVR will also be widely used in fields of virtual social networking, virtual entertainment, virtual education, virtual communications,etc. In the first half of 2021, our global operating revenue increased by about 202.2% year-on-year, gross profit increased by 189.8% year-on-year, net profit increased by 40.3% year-on-year and our R&D expenses increased by 463.6% year-on-year. We increase R&D investment to maintain the company's leading competitive edge in the Metaverse and holographic AR industries. With the popularization of Metaverse applications, the holographic cloud industry where WIMI is located will see explosive growth. We will seize the growth opportunities of Metaverse market, continuously improve our Metaverse product matrix, and expand our market share to continue to create long-term value for the company's shareholders."
About WIMI Hologram Cloud
WIMI Hologram Cloud, Inc.(NASDAQ: WIMI) was founded in 2015, which is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment,holographic semiconductor, holographic cloud software, holographic car navigation,metaverse holographic AR and VR equipment, metaverse holographic cloud software and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic virtual communication, metaverse holographic AR technology, metaverse virtual cloud service,and other holographic AR technologies.
WiMi Holographic Academy:
Key applications of human-computer interaction and remote device control in virtual reality environments.
source
https://inf.news/en/tech/6af13fd0c4d0109cf2a1475cb4928956.html
2021-12-07 15:25 HKT
With the development of virtual reality and 5G technology, new technical elements have been injected into human-computer interaction and remote control technology. Human-computer interaction and remote control based on traditional technology can no longer meet people's needs. As the scientists of the “Wimi Hologram US.WIMI” research institute under the Nasdaq-listed company “Wimi Hologram US.WIMI” , scientists believe that people need to build a realistic visualization effect that can interact with virtual scenes naturally and in a virtual reality environment. A system for remotely controlling equipment in
The following is the fusion viewpoint of science and technology of the WIMI Holographic Academy of Sciences, which is of cutting-edge guiding significance for the "key technologies of human-computer interaction and remote control of equipment in a virtual reality environment".
Background introduction
With the introduction of concepts such as "intelligent manufacturing", "industry 4.0", and "industrial Internet", related research has become popular. In the manufacturing industry, digital and intelligent transformation and upgrading of factories are also in full swing. Many digital factories are equipped with advanced human-computer interaction methods and the functions of remote state monitoring, operation, and maintenance of equipment. Through advanced human-computer interaction and equipment remote control system, engineers and technicians and staff can monitor, debug and maintain the equipment's operating status in a comfortable office or even thousands of miles away, greatly improving work efficiency.
Especially under severe working conditions such as high temperature, toxic, high ionizing radiation, engineers and technicians can remotely operate on-site equipment through advanced human-computer interaction and remote control technology to protect the staff from damage. In addition to industrial applications, in surgical operations, doctors can use advanced human-computer interaction and remote control technology to achieve remote surgical operations, which not only allows patients thousands of miles away to enjoy the highest quality medical services, but also greatly Reduce the physical burden of medical staff. In space exploration, with the help of human-computer interaction and remote control technology, scientists do not need to risk their lives to go to outer space in person, but only need to remotely operate robots thousands of miles away from the ground control center.
Virtual reality technology provides a new way to view and manipulate three-dimensional data, and inject new technical elements into the human-computer interaction and equipment remote control system. Virtual reality technology enables users to enter the scene built by the computer graphics system and interact with the virtual objects in it. With the promotion of HTC, Facebook and other technology companies, virtual reality hardware platforms and software development platforms have begun to enter the market. Among them, the HTCVIVE helmet display system developed by HTC has excellent performance such as large field of view, high immersion, high refresh rate, and good interactivity. At present, VR has become the next outlet after the Internet and smart phones. Technology manufacturers around the world are rushing to enter the VR market, and VR-related research and applications are in full swing.
The continuous upgrading of Internet technology and the continuous improvement of network speed and communication reliability have provided the communication technology conditions for the remote control operating system. Usually, a teleoperation system needs to establish a special communication link. With the improvement of the performance of the Internet, it becomes possible to establish a teleoperation system based on the Internet. Especially with the full deployment of 5G, the speed of Internet communication will reach 1Gbit/s, and the communication delay will be shortened to less than 20 milliseconds. With the support of 5G, people can remotely drive their own cars, remotely operate home appliances, remotely use large-scale software deployed on remote servers, and remotely operate large-scale experimental equipment on the remote operating system terminal. In industrial production, most of the equipment can be connected to the Internet to transmit large amounts of real-time data. The operating experience of engineers and technicians in remotely controlling field equipment will be significantly improved.
Research Status of Virtual Reality Technology at Home and Abroad
The Da Vinci surgical robot system jointly developed by IBM, MIT and Heartport uses a variety of human-computer interaction and remote control technologies. The system collects human manipulation information and tactile information, which is processed by the system and transmitted to the manipulator to perform surgical actions. The imaging system of the manipulator collects and amplifies the visual signal and transmits it to the virtual reality imaging system to present the surgical scene to the operator in three dimensions. The system uses a variety of interactive methods such as system interface, VR stereo imaging, human motion sensing, and tactile sensing to realize human-machine information transmission. Use information real-time transmission and high-speed processing technology to eliminate the delay of information transmission and processing. The precise servo feedback control system and a variety of advanced control algorithm programs are used to achieve precise control of the robotic arm.
The latest T-HR3 robot system released by Toyota, Japan, uses remote control to completely imitate human movements. The operating system collects the movement information of the person, and transmits the movement information of the person to the robot to perform the same action through the wireless data link. The robot's vision system returns the collected visual information to the operator, and presents it to the operator in a three-dimensional manner through the VR imaging system.
The Global Hawk UAV system developed by Northrop Grumman of the United States realizes the transmission of human-machine information through the ground control station, and the information is transmitted to the UAV through the high-speed data link for execution. The information is transmitted back to the ground control station, and the control station presents the parameters of the drone to the operator through the display panel. The virtual reality system for pilot training developed by Beijing University of Aeronautics and Astronautics can immerse the pilots in the virtual cabin environment. The virtual cabin draws virtual scenes in real time according to the pilots' operations, so that the pilots have a human-computer interaction environment similar to the real driving environment. Greatly reduce the training cost of pilots.
From the above research, several common technologies of human-computer interaction and remote control in virtual reality environment can be extracted. These technologies can be summarized as the collection of human information, the collection of machine information, the three-dimensional presentation of information and remote control, etc. Machine vision is an important way to collect information. Whether for humans or machines, information collection through vision is an important way to obtain information. The earliest research on machine vision was the pattern recognition and analysis of two-dimensional images. With the development of computers in the 1970s, the theoretical system of machine vision was created. Marr has established a complete machine vision theory system. Marr's vision theory divides vision processing into two-dimensional data collection, extraction of key elements, and three-dimensional reconstruction. According to the point, line, curvature and other elements of the image and the relationship between various elements, through a series of post-processing, the three-dimensional information of the scene is restored. On the basis of Marr's vision theory, a series of improved models with feature picking, information feedback, and purposeful feature recognition have been developed.
The composition of the machine vision system includes a lighting system, a photoelectric conversion system, an imaging system, and an image processing module. The target is converted into a digital signal through photoelectric conversion, and the system processes the digital signal to form the grayscale and color numbers of the pixels. Acquire useful knowledge based on the characteristics of digital signals. In terms of light sources, different lighting schemes are usually used for different feature extraction requirements. In the vision system, there are a variety of lighting methods, including back lighting, forward lighting, structured light sources, and flashing lights. Backlighting means that the light source penetrates the illuminated object and the direction of the light source faces the camera. Forward lighting means that the light source directly illuminates the object, and the reflected light of the object is captured by the camera to form an image. Structured light sources are light sources with certain shape characteristics, such as wire-mounted or point-shaped array light sources. These shapes will cause deformation when irradiated on the object. The system deduces the depth information of the object based on the deformation information. The flash is a discontinuous light, which only has a brief light when the camera is shooting. The advancement of CCD (Charge Coupled Device) and image capture card technology has promoted the application of machine vision.
With the improvement of the performance of photoelectric conversion devices, the components are getting smaller and smaller, and the signal transmission ability is getting stronger and stronger. In a vision system centered on a PC (Personal Computer) machine, a graphics card is needed to process the captured images. The graphics card can digitize the image into pixel and gray value information. Extracting the features of complex signals needs to be implemented step by step with the help of multiple steps. First, distinguish the target of attention from the background. When the difference between the target and the background is small and difficult to distinguish, it is usually necessary to enlarge and enhance the features of the target. After the feature is enlarged and enhanced, it can be distinguished from the background. Methods to separate the target from the background include: false target deletion method, adaptive threshold method, step-by-step method, multi-information fusion method and so on.
At present, 3D motion capture technology is a hot research topic. Three-dimensional motion capture technology can measure, track, and record the motion trajectory of objects in three-dimensional space. It not only collects human motion information, but also has a wide range of applications in many research fields. The production of three-dimensional motion capture technology can be traced back to the 1970s, when it was first proposed by psychologist Johansson in the study of visual perception of human motion. Since the 1980s, professors and scholars represented by Calvert, Carol, Robertson, Walters and Tardif have successively carried out in-depth research on 3D motion capture technology, which has promoted the development of this technology and made this technology increasingly mature.
With the in-depth research of virtual reality technology and the maturity of related technologies, interactive control with virtual models in a virtual environment has become a reality. Virtual reality involves many technical fields and is the result of the joint development of multiple technologies. Virtual reality technology involves model building and 3D display, human-computer interaction, wearable sensors, machine learning and other fields of technology. The use of virtual reality technology can provide users with sensory experiences including vision, touch, hearing and even smell, so that participants have a strong sense of being there. The virtual reality system needs to collect and capture the user's motion state information in real time, so as to generate the corresponding image screen and project it to the user's eyes. This technology integrates the latest developments in 3D display, simulation, machine vision, machine learning, parallel processing and other technologies. It is a high-tech simulation system assisted by computer technology.
The concept of virtual reality was first proposed in the middle of the 20th century. NASA has conducted research on key technologies such as virtual reality displays and sensors, and introduced advanced technologies such as LCD (Liquid Crystal Display) displays, enabling the development of virtual reality technology. In 1968, Harvard University developed a head-mounted display that, in conjunction with a head motion capture system, can provide users with preliminary stereo vision. This is an important breakthrough in the research of virtual reality technology. Subsequent development of virtual reality systems is mostly based on this architecture. In 2015, the virtual reality helmet system developed by HTC VIVE was put on the market, representing that the research of virtual reality technology has moved from the laboratory to the market. The research of virtual reality technology has also shifted from theoretical research to research on specific issues in application.
In summary, machine vision, motion capture, VR, and remote control technologies continue to advance. Da Vinci surgical robots and Toyota T-HR3 robots have achieved immersion in the virtual reality environment through the integration of the above technologies and system integration. Human-computer interaction and remote operation of the machine. Immersive human-computer interaction in the virtual reality environment will replace the existing human-computer interaction methods of mouse, keyboard, and display screen. With the progress of related research and development and breakthroughs in key technologies, the sci-fi scenes of remote control alien bodies that appeared in the movie Avatar will become reality.
Combination of human-computer interaction and equipment remote control frame system in virtual reality environment
In order to solve the data collection, model construction and display, human-computer interaction, security control and other problems that need to be solved in the human-computer interaction and equipment remote control system in the virtual reality environment, a framework based on human-computer interaction and equipment remote control in the virtual reality environment The model is shown in Figure 1.
From a logical analysis, the framework model includes five levels:
- hardware execution layer,
- industrial network layer,
- system layer,
- logic control layer, and
- user operation layer.
There is a certain logic or business interaction relationship between these levels, and each level contains several security control mechanisms and methods, forming a complete set of human-computer interaction and device remote control logic architecture in a virtual reality environment.
- (1) Hardware execution layer
The hardware execution layer is the hardware composition of the system, which mainly executes various production instructions sent from the UI interface module in the virtual reality system. In the intelligent manufacturing workshop, industrial robots, CNC machine tools, machining centers, 3D printers, intelligent AGV (Automated Guided Vehicle) carts and workers form intelligent man-machine clusters. The operating status information of these devices is collected by the data acquisition device, and the data is provided to the loading and display module of the virtual model after data processing.
(2) Industrial network layer
The industrial network layer is a real-time industrial communication network that interconnects the field control unit at the bottom of the virtual reality system and intelligent production equipment. Commonly used are industrial equipment network communication based on technical means such as fieldbus and industrial Ethernet. It includes wired transmission and Wireless transmission method. Wired transmission methods are generally based on fieldbus, industrial Ethernet, etc., using multiple types of standards such as Profibus, Profinet, TCP/IP protocol, and high-speed, high-bandwidth and high-reliability network transmission channels. Wireless network transmission methods such as industrial wireless sensor networks for data transmission and sensor connection do not require on-site wiring, which is convenient and fast, but the network bandwidth and transmission reliability are poor.
- (3) System layer
The system layer refers to the system software above the operating and hardware layer. It is the middle core layer of the framework model of human-computer interaction and equipment remote control system under virtual reality environment. Through the system layer, safe and reliable remote monitoring and control of smart equipment under virtual reality environment can be realized. The main functions include data collection, equipment control, communication management, model driving, 3D display, system security management, etc. In this model, the typical functions of system security management include digital signatures, symmetric encryption, asymmetric encryption, and security mechanisms.
- (4) Logical control layer
The logical control layer is the business logical relationship of the system. Mainly deal with the operation instructions from the user operation layer to the system layer, and process related data. This layer mainly includes the logic control of business process, data processing and algorithm optimization, etc. The main modules include instruction execution, data processing, business interaction, etc.
. (5) User operation layer
The user operation layer is the interface that enables users to interact with the software system and issue various instructions to the hardware execution layer. It consists of various application system interface interfaces, multiple types of user terminal equipment (such as data gloves, cameras, VR glasses, etc.), and multiple Industrial API interface, etc.
In order to realize remote control of industrial equipment under virtual reality environment, a complete system has been established. The development of multiple technologies such as machine vision, virtual reality, and remote control provide good technical support for the construction of such a system. In order to coordinate and cooperate with various technologies to be better applicable to the system environment to be established, it is also necessary to comprehensively use and optimize the various technologies. The system construction steps are shown in Figure 3.
As shown in Figure 3, in step 1, construct the system's data acquisition system. The data acquisition system provides data feed support for the system. The status information of a variety of equipment on site is obtained through the data acquisition system, and the virtual model is driven according to these data. Then, with the help of visual markers, a data collection method for indirect acquisition of equipment movement information.
In step 1, research on related technologies for visual mark design, recognition and positioning.
Step 2. Complete the real-time construction and 3D display of the scene. The field device data obtained in step 1 is presented in the form of 3D visualization through step 2. Step 2 Mainly study the real-time construction of the scene, fast loading, dynamic movement, virtual and real synchronization and other problems. Finally, the realization scheme of 3D display and the interactive scheme under the virtual reality environment are studied.
Step 3. Build a low-latency, safe remote control system, and realize the software and hardware connection between the system and the controlled device. In the virtual reality system, the operation instructions generated by the UI interface are sent to the terminal device through the remote control system and executed. In this step, we will study and solve the problems of communication delay, communication safety and the establishment of PLC-based terminal control system.
Step 4. Perform system integration and testing of the solutions researched and proposed in steps 1 to 3, and the established system modules. This part uses data cache files to realize the connection between system modules. Finally, run the test on the system and its modules to complete the construction of the system.
Research Outlook
Many technological developments have created good conditions for the construction of a human-computer interaction and equipment remote control system in a virtual reality environment. People hope to apply new technologies such as virtual reality and Internet 5G to the field of digital manufacturing. However, to integrate such a complex system that integrates software, electronics, and mechanics, various technologies need to be optimized and improved. Research on key technologies such as human-machine data acquisition, scene real-time modeling and 3D display, low-latency and safe remote control, and integrate key technologies. The human-computer interaction and equipment remote control system under the virtual reality environment developed can further improve the human-machine Interactive experience and remote control efficiency, while improving key technical issues have universal applicability, have good reference value for further improving the automation and intelligence level of smart factories, and have a lot of market demand.
Established in August 2020, the WiMi Holographic Academy of Sciences is dedicated to holographic AI vision to explore the unknown in science and technology, and with human vision as the driving force, to carry out basic science and innovative technology research. The Holographic Science Innovation Center is committed to holographic AI vision to explore the unknown science and technology, attract, gather, and integrate relevant global resources and superior forces, promote comprehensive innovation with scientific and technological innovation as the core, and carry out basic science and innovative technology research. WiMi Hologram Academy of Sciences plans to expand scientific research on the future world in the following areas:
- 1. Holographic computing science:
brain-computer holographic computing, quantum holographic computing, photoelectric holographic computing, neutrino holographic computing, biological holographic computing, magnetic levitation holographic computing
- 2. Holographic communication science:
brain-computer holographic communication, quantum holographic communication, dark matter holographic communication, vacuum holographic communication, photoelectric holographic communication, magnetic levitation holographic communication
- 3. Micro-integration science:
brain-computer micro-integration, neutrino micro-integration, biological micro-integration, optoelectronic micro-integration, quantum micro-integration, magnetic levitation micro-integration
- 4. Holographic cloud science:
brain-computer holographic cloud, quantum holographic cloud, photoelectric holographic cloud
The following are some of the scientists of the WiMi Hologram Academy of Sciences:
Zhang Ting, a postdoctoral fellow at Northwestern University, a doctorate from the University of Hong Kong, category C of the Peacock Program for overseas high-level talents, mainly engaged in research and development and application of VR/MR key technologies and optimization of complex service systems, and published 5 holographic patents. Won the first prize of Hubei Province in the National "Challenge Cup" Entrepreneurship Plan Competition and the first prize of Huazhong University of Science and Technology.
Yao Wei, Ph.D. in Computer Science and Technology Engineering, Hunan University, main research direction:
Memristive neural network and its dynamic behavior, application: image processing, secure communication. Based on the memristor circuit with long-term memory characteristics of VDCCTA and its composed neural network. Participate in designing a neural network system model based on memristor. Memristor-based bionic neuron and synaptic connection microelectronic circuit design, participate in the memristor-based neural network system model design and dynamic behavior analysis.
Chen Nengjun, PhD in Economics from Renmin University of China, Postdoctoral in Applied Economics from Shanghai Jiaotong University, Deputy Secretary-General of Guangdong Financial Innovation Research Association, Director of Guangdong International Service Trade Association. Mainly engaged in the research of cultural technology and industrial economy, in recent years, he has made good achievements in the field of copyright industry research. In recent years, he has hosted and researched "Digital Creative Industry in the 5G Era: Global Value Chain Reconstruction and China's Path", "Shenzhen Accelerating the Development of Artificial Intelligence Industry", "Research on China's Copyright Trade Development Strategy from the Perspective of a Powerful Trade", "Cultural Technology Integration Research: Based on the dual perspective of copyright transactions and financial support" and many other provincial and ministerial topics, and published many papers in core journals such as "Business Research", "China Circulation Economy", and "China Cultural Industry Review".
Pan Jianfei, Ph.D. from the Hong Kong Polytechnic University, is currently a talent in the "Thousand Hundred and Ten Project" of universities in Guangdong Province, a high-level overseas talent in Shenzhen, a high-level talent in Shenzhen, and an outstanding scholar of Shenzhen University. The research fields are mainly automation + VR applications, advanced digital manufacturing, digital manufacturing holographic twin factory, robots, etc. Presided over a number of National Natural Science Foundation projects, Guangdong Province Science and Technology Plan projects and Guangdong Province Natural Science Foundation projects.
Du Yufan, PhD in optical engineering from Beijing Jiaotong University, obtained more than 20 patents related to display products, published 3 journal articles, and created the world's highest resolution 8K*4K VR products, and proposed the use of light field display technology to solve VR Convergence conflict problem; launched the first monocular AR glasses with 100% localization rate, and jointly proposed the concept of a non-contact interactive operating system based on future spatial information (System On Display), and implemented virtual reality digital in the operator system Industrial cooperation.
Wu Chaozhi, Ph.D. in Opto-Mechanical Engineering and Application, Shenzhen University. His research direction is mainly precision/micro electrochemical machining. He has published many journal papers and conference papers and obtained three related patents. He has participated in the National Key Research and Development Program and the National Natural Science Foundation of China. Key projects of the research plan, etc.
Ding Ru, Chinese Academy of Social Sciences, Ph.D. in Technical Economics and Management from the Institute of Quantitative Economics, engaged in big data and digital economy, innovation and development research, scientific research project management and other fields. The main research areas are scientific and technological services, industrial economic research, technological innovation and entrepreneurship . Served as the deputy secretary-general of Shandong Technology Market Association. He is good at integrating innovative resources, expanding innovative business and innovative industrial planning and industrial economy, and participating in related innovative research and industrial resource docking in the application of virtual reality technology.
The above is a small group of scientists from the Wimiar Academy of Sciences. PhDs at home and abroad who are interested in joining the Academy of Wimiar Sciences can send their resumes to: mark@wimiar.com. Any individual or unit who aspires to do holographic scientific research can also publish personal scientific papers to this mailbox to obtain scientific research funding.
The WiMi Holographic Academy of Sciences aims to promote cutting-edge research in computer science, holography, quantum computing and other related fields for actual industry scenarios and the future world. Establish an industry-research cooperation platform, promote the application of major technological innovations, and create an ecosystem of in-depth integration of industries and research centers. WiMi Holographic Academy of Sciences adheres to the mission of "Let there be technology where there are people", focusing on holographic scientific research in the future world, and contributing to the advancement of global human science and technology.
WiMi Hologram was established in 2015, NASDAQ: WiMi.
WiMi Hologram focuses on holographic cloud services, mainly in vehicle AR holographic HUD, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation, meta-universe holographic AR/VR equipment, meta-universe Holographic cloud software and other professional fields, covering from holographic vehicle AR technology, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR virtual advertising technology, holographic AR virtual entertainment technology, holographic ARSDK payment, interactive holographic virtual communication, Meta universe holographic AR technology, Meta universe virtual cloud service and other holographic AR technologies, is a holographic cloud comprehensive technical solution provider.
The meta-universe concept wind continues to hit, and new products such as Pico/facebook/Wimei Hologram/Xiaomi are launched.
source
https://inf.news/en/economy/248c7b1b21305102287e3d60688b6d7e.html
2021-12-07 15:14 HKT
What is the hottest concept at the moment? Meta universe must be on the list.
From "Meta Universe's first stock" Roblox's share price rose 54% on the first day of listing, to Zuckerberg publicly stated that it would take 5 years to build Facebook into a meta universe company, and then to the acquisition of a VR startup company by ByteDance 9 billion in China Pico lays out the meta-universe, and the concept of meta-universe directly detonated the technology circle and investment circle.
The supporting industry of Metaverse is undoubtedly AR/VR. XR extended reality is also a hot topic in the field of technology Internet in 2020. It includes concepts such as AR, VR virtual reality, AR augmented reality, and MR mixed reality. Using AR/VR as the interface to enter a virtual world parallel to reality, giving people an immersive experience, is one of the main understandings of the meta-universe concept.
In response to this field, giants have poured into the application of VR, AR and MR field, further extensive development. Launch related products to provide a more immersive, smarter, and more interconnected user experience.
Qualcomm Snapdragon XR1AR smart glasses
From the appearance, it is very similar to the current sunglasses, and the outstanding feature is that it is equipped with multiple cameras. According to official information, this reference design can provide a high-performance, immersive experience. It can not only be connected to a variety of compatible smartphones, Windows PCs, and processing units, but also specifically for Qualcomm Snapdragon mobile platforms. The terminal is optimized to provide a better user experience.
Pico neoVR all-in-one
The Pico neo3 gaming VR all-in-one machine can be used without any cables. It is equipped with a Qualcomm Snapdragon XR2 processor, has 6 times the screen resolution drive capability, 11 times the AI ??processing performance, and supports Wi-Fi6; self-developed optical tracking system can be used Better positioning and tracking. Thousands of hours of game content are built-in to provide an incisive game experience.
Facebook makes headsets like phones
After Facebook (FB.US)'s Oculus Quest 2 was released last year, it created an industry shipment record of 3 million units. The market expects that its sales may reach 7 million to 8 million units in 2021. Zuckerberg once mentioned a dividing line. He believes that when Oculus attracts 10 million active users, the market will form a positive cycle, and more developers will be attracted by the new ecosystem. After actively joining, the original capital chain will be broken and talent shortages will occur. The situation can be solved easily.
The incredible success of Oculus 2 is not only a huge boon for Facebook, but also a huge boon for the developers of the Oculus store, who have created apps specifically designed for use with Oculus headsets. Facebook reports that since the launch of Oculus Quest 2 in 2019, more than $150 million worth of apps have been sold. This makes us feel that headphones have become as popular as mobile phones.
WiMi Hologram releases new head-mounted display
WiMi Hologram Software Co., Ltd. (WIMI.US), a world-leading provider of holographic AR application technology.
Recently announced and released a new augmented reality (AR) head-mounted display (HMD) for the consumer market-"WiMi HoloAR lens", to further strengthen the software and hardware research and development of the underlying holographic technology and expand the holographic AR technology in the meta universe user experience. This new product is the first domestic and foreign split glasses compatible with the dual-camera 6dof spatial positioning solution, which is conducive to the rich use of spatial interaction. It is upgraded with holographic AR technology for spatial interaction and spatial positioning for multi-scene interaction applications. The transformation is more conducive to supporting Metaverse multi-application development and user experience.
"WiMi HoloAR Lens" can be extended to connect to PCs, drones, Android & IOS smart phones. It is a portable and mobile smart display device in multiple scenarios. Compared with the 30-55 degree viewing angle in the industry, this product has The larger viewing angle of 63 degrees greatly enhances the visual immersion of the product.
External Photos
https://fcc.report/FCC-ID/2AXW3-HOARL1/5554963
Internal Photos
https://fcc.report/FCC-ID/2AXW3-HOARL1/5554962
Xiaomi releases smart glasses "Technology sees the future"
Xiaomi Smart Glasses Discovery Edition has a camera on the front of the left mirror arm, and the screen selects a pure green display solution, and the brightness can reach 2 million nits during work. The product integrates a quad-core ARM processor, battery, touchpad, Wi-Fi/Bluetooth module, and dual beamforming microphones and speakers, etc., and runs the Android operating system. In addition, the weight of the whole machine is only 51g.
With the coming of the meta universe and the continuous development of smart glasses, we are very looking forward to the application of more and more games, audiovisual, education and other content on smart glasses in the future, so that these products can bring us more abundant user experience.
The Ultimate Customer Experience Creator – Teneo Connectors.
source
https://www.artificial-solutions.com/blog/the-power-of-teneo-connectors-customer-experience
December 7, 2021
Ever wondered what the key to a successful Conversational AI (CAI) implementation is? Gartner,
https://www.gartner.com/en/information-technology/insights/artificial-intelligence
the lead research and advisory firm on emerging technologies, has some answers. In their “Guidance Framework for Evaluating Conversational AI Platforms” (2020) they offered a detailed step-by-step framework for successful CAI implementations, breaking down the main aspects for enterprises to watch for while looking for vendors. One of the things Gartner highlights is the ability to leverage pre-built integrations:
“As you investigate your chatbot use cases, consider the benefits of using the prebuilt capabilities of enterprise application offerings. Significant time and effort go into creating conversations, establishing the required workflow and integrations, and testing and launching the chatbot. Prebuilt offerings directly mitigate this risk and challenge.”
What is the value of prebuilt integrations for customer experience?
According to Gartner, 92% of the Virtual Customer Assistant implementations are to be integrated with some shape or form of an enterprise application (see figure below).
Teneo offers prebuilt connectors with enterprise systems through both cloud and on-premise APIs. Teneo connectors allow developers to expose their applications via different channels (web, voice, IVR, mobile, social media platforms, etc.), as well as integrate with backend systems of different types (live chat systems, call centers, CRMs, CMS, RPA providers, ticketing and issue tracking systems, etc.).
Not only does this create more possibilities to create customer experiences across multiple platforms, it also removes the issue of building them for a business itself.
“You should leverage prebuilt channel integrations whenever possible, unless your conversational platform cannot or does not provide the channel capabilities.”
Teneo Connectors and the Teneo Community
Teneo Connectors
https://developers.artificial-solutions.com/resources
meet specific needs the Teneo Developers community have.
About 40% of the connectors currently available through Teneo Developers have been contributed by the community itself. All of these connectors are open-source and openly available for anyone to leverage in their Teneo solutions. As the library of connectors grows, the community benefits from reduced implementation times in their projects, proven and robust code, updates and extensive documentation for customization purposes.
Connectors make it possible for Teneo applications to be available through multiple channels:
https://developers.artificial-solutions.com/resources/channels
web, messaging, voice, contact centers, IVR, mobile, etc. Users can interact with Teneo via IVR (Twilio, Vonage, CISCO Connect, Genesys, etc.), messaging (SMS, WhatsApp, LINE, WeChat, etc.), social media (Facebook, Twitter, etc.), as well as mobile (iOS and Android SDKs are publicly available on Github for Teneo Developers to develop their own apps), voice assistants (Alexa and Google Home), and also through other less obvious channels, like TV boxes or drive-thru systems.
Teneo
https://www.artificial-solutions.com/teneo/teneo-studio
integrates with a vast number of backend systems,
https://developers.artificial-solutions.com/resources/backend-connectors
like Salesforce, JIRA, ServiceNow, Zendesk, Freshdesk or Freshservice for digital workflows and operations. It also integrates with two of the major global flight search services (Amadeus and Sabre), providing limitless automation opportunities for travel agencies and booking businesses. Teneo also augments RPA processes with human-like capabilities, by making them more accessible while adding natural language and dialog management dimensions to RPA workflows from major providers like BluePrism, UiPath, Automation Anywhere or Power Automate.
Bot Framework Developers will find a dedicated number of Teneo Connectors they can leverage within the Microsoft Azure Bot ecosystem: from frontend connectors easily exposing LUIS^Teneo bots through Teams and Skype to backend integrations with Power Automate or QnAMaker knowledge bases, as well as pre-built data analytics Conversational AI dashboards and metrics in Power BI (all of the pre-built KPIs can be fully customized and extended via our patented TQL language and analytics API).
https://developers.artificial-solutions.com/data/analyze-log-data/running-custom-queries
In addition to these, Teneo Connectors allow for CAI implementations to be extremely modular, even leveraging other NLU providers as part of the architecture. LUIS^Teneo
https://developers.artificial-solutions.com/getting-started-lt/luis-to-the-power-of-teneo-in-10-minutes
is our most successful combined implementation, but Teneo can integrate with other Intent engines like Amazon Lex, IBM’s Watson, DialogFlow (ES and CX), pre-trained Deep Learning and Transformer models, deployed Classifiers (from StanfordCore NLP to OpenNLP, etc.), and many more. There’s no limit as to the level of modularity a Teneo-based architecture can have.
Teneo Connectors in Action
Frontend connectors facilitate the communication between your channel of choice and Teneo. They are typically comprised of a Node.js application (available in Github)
https://github.com/artificialsolutions
which can be easily deployed as a “middleware” or web application, hosted locally, through Heroku or via any preferred Cloud service. The frontend instance will pass on requests to the Teneo Connector, which will make sure to translate the communication into a format Teneo will understand, also handling specific Teneo events like sessions, timeouts, etc. automatically. Setting up a frontend connector can take from 10 to 30 minutes maximum.
One of our most recent LUIS^Teneo customers, SelectQuote, is leveraging one of our connectors (Vonage voice), which allows agents to transfer calls from their contact center to a voicebot. The connector was readily available before the project started so the development team reduced implementation times significantly by leveraging its functionality. The integration was used without any further customizations.
Backend connectors are meant to integrate your natural language application with different backoffice systems, allowing your bots to create and curate tickets, pull user details from different sources, retrieve answers from specific databases, connect to search services (products, flights, etc.), hand over conversations to agents (along with dialog and user information), etc. They are typically comprised of a starter solution containing a prebuilt integration with the backend system at hand and a set of intents and flows that will add conversations capabilities to flight searches for instance, the creation of Support tickets in a system like JIRA, etc., etc.
Adding new Connectors
Oftentimes partners and clients ask this question: What if there is no existing Connector for the enterprise application I am planning to integrate with?
Our answer is:
- Engage with the community, you will be surprised how collaborative of an environment it is. Earlier this year different community initiatives resulted in a number of contributions from our own developers. Our Contentful, Shopify, Zoho Desk and Hubspot connectors can attest to that!
- In addition to that… our Customer Success will be happy to help! We thrive in new challenges and are willing to help create new connectors to help you meet your needs while continuing expanding the versatility of a CAI platform we pride in.
Trust us, prebuilt connectors are an asset you want to look for in a CAI platform in order to create the best customer experience possible. Teneo Connectors have been recognized by analysts like Gartner and ISG, for the enormous value they provide in real CAI implementations. So please feel free to give them a try! And sign up for our Teneo Developers Forum,
https://community.artificial-solutions.com/
as this will ensure you are notified every time a new connector is published.
References
Skowron, Jeffery, and Soyeb Barot. “Guidance Framework for Evaluating Conversational AI Platforms.” Gartner Research, May 2020, ID G00721598.
OTC Markets Group Welcomes CloudMD Software & Services Inc. to OTCQX.
source
https://finance.yahoo.com/news/otc-markets-group-welcomes-cloudmd-120000939.html
Mon, December 6, 2021, 1:00 PM
OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for over 11,000 U.S. and global securities, today announced CloudMD Software & Services Inc. (TSX-V: DOC; OTCQX: DOCRF),
https://www.otcmarkets.com/stock/DOCRF/quote?utm_source=Press+Release&utm_medium=Press+Release&utm_campaign=New+OTCQX+Company
a healthcare technology company revolutionizing the delivery of care, has qualified to trade on the OTCQX® Best Market.
CloudMD Software & Services Inc. begins trading today on OTCQX under the symbol "DOCRF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on
https://www.otcmarkets.com/
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
Nauth LPC acted as the company's OTCQX sponsor.
About CloudMD Software & Services Inc.
CloudMD is transforming the delivery of healthcare using technology and by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient's healthcare journey and provides better access to care and improved outcomes. Through CloudMD's proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, healthcare navigation, educational resources and artificial intelligence (AI). CloudMD's Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals across North America.
For more information visit:
https://investors.cloudmd.ca/
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for over 11,000 U.S. and global securities. Through our regulated OTC Link® Alternative Trading Systems, the Company connects a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for their investors.
OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.
To learn more about how we create better informed and more efficient markets, visit
https://www.otcmarkets.com/
Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
I send this angry message to Aimee
Dear Mrs. Brown, why
- still do you show the old mirror design on your homepages?
sources: https://capstonecompaniesinc.com/ , https://capstonecompaniesinc.com/products/
https://capstoneconnected.com/ , https://capstoneindustries.com/products/
and not the actually design
https://images-na.ssl-images-amazon.com/images/I/81xJGpkTtpS._AC_SL1500_.jpg
- why do you still advertise the OLD mirror version in the background video?
at https://capstoneconnected.com/
- are pictures of the OLD mirror design published in the current reporting?
sources: https://flipboard.com/@gadgetflow/gadget-flow-i9t3q8j0z/capstone-smart-mirror-lets-you-check-the-time-download-videos-play-music-and-/a-JvtaMtosR82SZeVJ_PXViA%3Aa%3A101957400-82319adc79%2Fthegadgetflow.com
https://www.technicalripon.com/smartphone/capstone-smart-mirror-lets-you-check-the-time-download-videos-play-music-and-more/
https://lenexworld.com/capstone-smart-mirror-lets-you-check-the-time-download-videos-play-music-and-more/
My request to you and your board members:
Please check your homepages IMMEDIATELY and delete all pictures, videos and product descriptions with content from the old mirror versions with LED light strips, THANK YOU.
Please revise your homepages with CURRENT pictures, videos and product descriptions with contents of the CURRENT mirror version, THANKS.
PS:
Your manufacturer of Capstone products in Thailand "Pro Concept Manufacturer Co., Ltd." also still uses the OLD mirror design with LED light strips.
source: http://pcm-thailand.com/big_ai_index.html
irinquiries@capstonecompaniesinc.com - Tell your questions to Aimee here DIRECLY!!!
source
https://capstonecompaniesinc.com/contact/
INVESTOR RELATIONS
Aimee C. Brown
(954) 252-3440 ext. 313
irinquiries@capstonecompaniesinc.com
WiMi Hologram strategically invests in Shenzhen Enjia to lay out the industrial design of Yuan universe products.
source
https://inf.news/en/design/fa27a0f376d831153c0fbd15301aa370.html
2021-12-04 20:10 HKT
Shenzhen Enjia Product Planning Co., Ltd. (abbreviated as: Enjia Design N+DESIGN) is a professional industrial design company, from design research, strategic analysis, conceptual design, to new products to the market, to help companies achieve continuous product design Innovate, provide services in a brand-new way, present the new direction of enterprise development and enhance the brand. The team members have rich experience in project design at home and abroad. Customers include Logitech, HP, PHILIPS Haier, Samsung, TCL, Panasonic, alans, armaggeddon, Sunvalley, Aukey. Internal and external brands.
In 2020 and 2021, Enjia has successfully won the German Red Dot Award. In 2020, Enjia two products related to "health" will stand out among thousands of entries, and the sense of design is perfectly integrated into the daily use of the product. middle. Enjia is ranked 13th in the 2020 Red Dot Global Design Agency (Asia-Pacific Region), which shows that the strength of Enjia's design cannot be underestimated. For a long time, Enjia's products have won many awards. The Red Dot Award, IF Award, A'design, Golden Dot Award, Red Star Award and other domestic and foreign design awards have all been won by Enjia. Almost every year, you can see the shadow of Enjia's design works at the international awards. Recently, Enjia continues to focus on the industrial design of VR/AR and medical equipment. Its products include postpartum rehabilitation equipment, physiotherapy equipment and other medical equipment.
The Red Dot Design Award was founded by the German Design Association and has a history of more than 60 years. Through competitions on product design, communication design and design concepts, it attracts more than 60 countries and 10,000 works submitted to the competition every year. His works can be exhibited in the Red Dot Museum in Essen, Germany, and have the opportunity to participate in the award ceremony. The Red Dot Design Award can be traced back to 1955. It is the largest and most influential competition among the world's well-known design competitions. It is known as the " Oscar " in the design world.
Zhu Daozhang, the founder of Enjia, once said that N in Enjia design (N+DESIGN) represents infinite meaning in algebra, and + represents the meaning of bringing. When the company was founded, their original intention was to bring unlimited value through unlimited creativity. In this fertile soil of creativity, unlimited creativity and possibilities have created Enjia Design, which now has won numerous international awards.
Enjia is the world's first holographic AR listed company WiMi Hologram (Nasdaq: WIMI) strategic investment enterprise. WiMi Hologram focuses on computer vision holographic cloud services. It is one of China's leading comprehensive entities in the holographic cloud industry that covers the industrial chain and has excellent performance. It aims to become a holographic cloud platform with potential and international influence. At present, it has grown into one of the leading holographic cloud integrated technology solution providers in China.
WiMi Hologram will work closely with Enjia to develop in-depth cooperation in AR/VR equipment, holographic projection equipment and wearable devices, adding Enjia's design philosophy, optimizing the product design concept of WiMi Hologram, and laying out the follow-up layout of WiMi Hologram Lay the foundation for the meta-universe ecology. Facing the air outlet of the meta-universe, it is necessary to focus on the hardware and ecology. The meta-universe is the digital twin of the real world. The production methods, exchange methods, social structures and cultural values ??of the real world can all be copied into the virtual world. Therefore, the space-time dynamics mechanism of the metaverse is closely connected with the real world, and the metaverse constructs a fully-covered virtual reality system that organically integrates the Internet, hardware terminals, and users. It will realize the upgrade of gaming, social interaction, entertainment, office and other behavioral methods, and the software foundation and software required for new applications such as C-end cloud technology, blockchain technology, display system, high-bandwidth Internet, VR/AR/MR, brain-computer interface, etc. The hardware foundation is in a period of rapid development.
At this time when the limelight is booming, WIMI.US, the first stock of “Metacosmic holographic AR” listed on NASDAQ, is also actively exploring and deploying the metacosmic ecology, through multi-dimensional technology research and development. Create a brand-new and huge holographic ecosystem. Not long ago, the "Holographic Meta-Universal Division" was formally established, which sparked heated discussions and endless reveries about the meta-universe. On October 29, the company announced that it had submitted a trademark application for "WIMI Metaverse" to enter Metaverse with a new trademark, which indicated that the company would be committed to developing its own powerful Metaverse, and also heralded the long-term potential of Metaverse beyond imagination. And opportunity has absolute confidence.
Transcript of the conference call and webcast.
source
https://sec.report/Document/0001575705-21-000822/
Published: 2021-12-03 11:36:51-05:00
Submitted: 2021-12-03
C O R P O R A T E P A R T I C I P A N T S
Aimee Brown, Corporate Secretary
Stewart Wallach, Chairman and Chief Executive Officer
P R E S E N T A T I O N
Operator
Greetings, and welcome to the Capstone Companies’ Smart Mirror Update Call. As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Aimee Brown, Corporate Secretary for Capstone Companies. Thank you, Aimee. You may begin.
Aimee Brown
Thank you, Paul, and good morning to everyone.
On the call today is Capstone’s Chairman and Chief Executive Officer, Stewart Wallach. During today’s call, Mr. Wallach will be sharing an update on the Capstone Connected Smart Mirror Program.
As you are aware, we may make forward-looking statements during today’s presentation. These statements apply to future events which are subject to risk and uncertainties, as well as other factors that could cause the actual results to differ materially from where we are today.
With that, I’ll turn it over to you, Stewart.
Stewart Wallach
Thank you, Aimee, and good morning to everyone. I appreciate you joining me today.
I’d like to take this opportunity to acknowledge your expressed concerns resulting from the minimal communications that have taken place over the past few months. This has been a very difficult, atypical time for the Company. It has taken its toll on Capstone Management and its associates as we faced numerous unforeseen challenges. However, I want to emphasize that at no time did we lose sight of our objectives, and we remain determined to win.
We have had numerous FCC licenses issued for other products that we have produced and marketed in the past and have never experienced anything like the delays we experienced over the past few months. Attempts to communicate the circumstances real-time simply did not work, as the flow of information to us was sporadic and inconsistent at best. It was virtually impossible to share timelines and milestones with you, our shareholders, as the dynamics of interfacing with Thailand and China were overwhelming at the very least. I made a decision to cut back communications rather than violate my long-standing policy of not sharing information that was not transparent and material.
That being said, in preparation for this webcast, we have reconfirmed yesterday that everything the FCC requires to publish our ID is in place and the publication should be forthcoming this week. Let’s assume Monday at the latest. You might ask how this communication is any different than the past communications. Well, the fact is that the final documentation was acknowledged directly by FCC this past week. Note that we had passed the product testing on October 11, and our ID was issued on October 20, as previously reported.
We have been as transparent as possible regarding the status and our understanding of our ongoing developments subsequent to that time, as I mentioned above, but the delays continued. There is no doubt we got caught in a bureaucratic gridlock between Intertek’s Thailand and China offices, which was exacerbated by pandemic outbreaks and compromised efficiencies caused by Intertek employees temporarily working remotely.
At this time, there is really no value to go backwards and attempt to make sense or explain these inexplicable circumstances. The bottom line is we have navigated through these difficult times and are moving forward expecting this final approval in the next few days.
So let’s take a look forward at what is in place and ready to execute immediately upon the ID publication...
The company that is managing our digital marketing effort is standing by to release our initial Google ad campaign. The ads have been designed and are staged and ready to go. In addition, they will be effecting a remarketing campaign directly to email addresses which have been compiled over the past 12 months. It is estimated that an excess of 7,500 people interested in the Smart Mirror program will be reached through this effort.
Max Borges PR Agency, which has been on hiatus since February of 2021, was reactivated October 15 and has initiated a press release under embargo to journalists this past week, and the official release is out today. We have subsequently, to their initial outreach under embargo, rushed three mirrors to recognized media outlets in the hopes that we will receive media coverage before CES.
We shipped 16 mirrors to our Las Vegas booth builder in preparation for the Consumer Electronics Show. This past Monday, we flew one of our marketing associates, Tom, to inspect the mirrors. The inventory arrived in good condition, and we are ready to go.
We have built an inventory of 200 mirrors that are staged to be shipped by air immediately upon the FCC publication. This will not only activate Capstone Connected online ordering and allow us to react - but will also allow us to reactivate our Amazon website.
When visiting the Capstone Connected website, you will note we have added two accessories to our product line. The Thin Cast remote control and Thin Cast battery pack further differentiates the Capstone mirrors from others. The products will formally be launched at the CES show and available for deliveries in January.
Following the initial shipment of 200 mirrors, we will schedule shipment of the next 1,000 mirrors. Depending upon the customer immediate demand, we will determine the mode of transportation at that time. If we have a strong December orders, our goal is to be in a position to fill these orders, and we may opt to air required quantities regardless of the added expense we’ll be facing.
We have purchased long lead time components for the next 2,000 mirror production run. These prepaid component inventories will allow us to continue production into January. In total, this would enable us to fulfill orders for 3,200 customers. Based on subsequent customer demand, we will schedule production to meet that demand in Q1 2022.
As our projections, which are based on analytics, would indicate, we will require added capacity to meet the market potential in 2022. While we have plans in place to expand the capacities in Thailand, we are also exploring expanding production into Mexico. We have commissioned a consulting firm that is conducting tariff assessments, supply chain viability, and potential assembly operations to help guide us through this process. We ideally would be producing product in Mexico Q2 2022.
To reiterate, while our communications have been sporadic over the past couple of months, your management team has been hard at work overcoming numerous unprecedented obstacles. I have commented before publicly, and will do so again today, that Management has never been faced with challenges of this magnitude over its collective 35 years.
The reason Capstone has been successful for the years leading up to the trade war of 2018/’19 and the subsequent global pandemic boils down to our collective tenacity and business acumen. We have never lost sight of the Company’s initiatives and remain resolute in delivering the Capstone Smart Mirror program for its shareholders.
Moreover, the insiders of Capstone Companies have risen to meet the financial challenges of the Company time and time again when conventional financing was simply not an option, and at the same time, at all times, we have avoided toxic debt like a plague. The fact that insiders own approximately 50% of the Company and have never sold a single share speaks volumes to our expectations. It is these expectations that serve to motivate the insiders and directors.
As the largest Capstone shareholder, I am acutely sensitive to the frustrations brought on by our stock volatility over the past several months. It is for this reason I’d like to extend a personal thanks to the long-time shareholders and those that remain supportive of our efforts.
We have a lot of work ahead of us, and we’ll finish crossing the finish line shortly. As I’ve stated before, we will look back at this painful period with a sense of pride, having accomplished our goals as set forth pre-pandemic. Many companies have failed during these times.
On a final note, in an effort to improve investor relations and to minimize ongoing distractions to Management, we will be adding a new email address to the Capstone Companies’ website for specific shareholder inquiries. Moreover, these inquiries will be reviewed by the Board and addressed accordingly without delays. Thank you again.
On a very last note, if you are interested in owning a Capstone Smart Mirror, I would urge you to visit our website and book an order today because these inventories are going to turn over very quickly. We are excited about the prospects for the future and look forward to reporting positive results in the weeks ahead. We will be confirming receipt of the FCC publication upon receipt, so please stand by.
Thank you again and appreciate your support.
Operator
This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.
A group of investors acquire 9.2% of the shares in Artificial Solutions.
source
https://news.cision.com/artificial-solutions-international-ab/r/a-group-of-investors-acquire-9-2--of-the-shares-in-artificial-solutions,c3465173
TUE, NOV 30, 2021 20:58 CET
Artificial Solutions International AB (“Artificial Solutions” or the “Company”) today announces that a group of investors, including among others C WorldWide Asset Management, board member Johan A. Gustavsson and SEB-Stiftelsen, have acquired 6,061,435 shares in Artificial Solutions, corresponding to 9.2% of the shares in the Company from Scope Growth II (the “Transaction”).
The transaction in brief
Artificial Solutions’ largest shareholder, Scope, through the investment funds Scope Growth II and Scope Growth III, today informed the Company that a group of investors including C WorldWide Asset Management and board member Johan A. Gustavsson as well as investors in the investment fund Scope Growth II, including SEB-Stiftelsen, have acquired shares in Artificial Solutions, in a sale corresponding to 9.2% of the shares in the Company. The Artificial Solutions holding, an investment made already in 2008 by Scope Growth II, was the only remaining holding in the fund portfolio.
Following the Transaction, Scope remains Artificial Solutions’ largest shareholder through Scope Growth III. Scope Growth III holds 10,727,971 shares in Artificial Solutions, corresponding to 16.3% of the shares in the Company.
“Having entered a new and exciting chapter with Per and his management team, and as we remain the principal shareholder of Artificial Solutions through Scope Growth III, we are happy to be able to offer our investors, from our earlier fund, the opportunity to continue this journey as direct shareholders” says Fredrik Oweson, Partner at Scope.
“The investors from Scope Growth II have known the Company for a long time and we are happy to welcome them as direct shareholders as we prepare to scale” says Per Ottosson, CEO Artificial Solutions.
This disclosure contains information that Artificial Solutions International AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 30-11-2021 20:58 CET.
For further information:
Per Ottosson, CEO, Artificial Solutions
Email: per.ottosson@artificial-solutions.com
About Artificial Solutions
Artificial Solutions® (SSME:ASAI) is the leading specialist in Conversational AI. We enable communication with applications, websites and devices in everyday, humanlike natural language via voice, text, touch or gesture input.
Artificial Solutions’ advanced conversational AI Teneo®, allows business users and developers to create sophisticated, highly intelligent applications that run across 86 languages and dialects, multiple platforms and channels in record time. The ability to analyse and make use of the enormous quantities of conversational data is fully integrated within Teneo, delivering unprecedented levels of data insight that reveal what customers are truly thinking.
Artificial Solutions’ conversational AI technology makes it easy to implement a wide range of natural language applications such as virtual assistants, conversational bots, speech-based conversational UIs for smart devices and more. It is already used daily by millions of people across hundreds of private and public sector deployments worldwide.
Artificial Solutions International is listed on Nasdaq First North Growth Market in Stockholm with short name ASAI. Erik Penser Bank is the Company’s Certified Adviser (https://www.penser.se/, tfn +46 (0) 8-463 83 00, e-post certifiedadviser@penser.se).
For more information, please visit
https://www.artificial-solutions.com/
Sorry, as of November 5, 2021 Shares Outstanding are 49.893.031
not as of May 30, 2021
Veto Mike - ONLY 39.64 % not 50 %.
All officers & Directors as a group own after conversion of all options & warrants 19.775.129 shares = 39.64 %
Total shares after conversion of all options & warrants as of May 30, 2021 = 49.893.031 shares.
49.893.031 shares - 19.775.129 shares = 30.117.902 shares Free Float.
Leading US insurance broker, SelectQuote, selects Artificial Solutions for Conversational AI Applications.
source
https://www.artificial-solutions.com/blog/selectquote-chooses-artificial-solutions-for-cai-applications
December 2, 2021
Artificial Solutions continues sales momentum by signing new SaaS customer for LUIS^Teneo.
Artificial Solutions® (SSME: ASAI),
http://www.nasdaqomxnordic.com/aktier/microsite?Instrument=SSE145803&name=Indentive%20B
the leading specialist in Conversational AI (CAI),
https://www.artificial-solutions.com/conversational-ai
today announced that SelectQuote (NYSE: SLQT),
https://www.linkedin.com/company/selectquote-insurance-services/?originalSubdomain=es
the online insurance broker for life, auto & home and Medicare plans in the USA, will work with Artificial Solutions and Vonage
https://www.artificial-solutions.com/blog/teneo-connector-vonage-interactive-voice-response-and-sms
to rapidly build advanced conversational AI applications.
SelectQuote will deliver exceptional customer service and increase operational efficiency by developing voice bots based on Vonage´s API Platform and Artificial Solutions’ offering, LUIS^Teneo,
https://www.artificial-solutions.com/ms-luis-teneo
a cloud architecture and SaaS-based platform in Microsoft Azure.
The SelectQuote Enroller Voicebot, in production, works as a supplement to current enrollment process by handling parts of the enrollment process through the phone.
“We selected Artificial Solutions for their extensive catalogue of pre-built integrations, which mitigates risk and costs,” said Jaki Breland, IT Project Manager at SelectQuote Insurance Services. “In working with LUIS^Teneo we can speed up development and deployments as well as make it easier to add functionality and channels making us more agile and faster in providing excellent customer experience”.
SelectQuote will benefit from Artificial Solution´s ability to connect frontend and backend systems, such as the Five9 Contact Center infrastructure, CRM and Insurance data to optimize their operations and develop better, faster and smarter conversational AI apps with support whenever they need it. With Artificial Solutions, SelectQuote also get access to extensive data insights.
Grantee Code: 2A3GY - 7 results were found that match the search criteria:
source
https://apps.fcc.gov/oetcf/eas/reports/GenericSearchResult.cfm?RequestTimeout=500
Office of Engineering and Technology
Capstone Connected launches its smart mirrors built for all lifestyles.
source
https://thealike.com/blog/capstone-connected-launches-its-smart-mirrors-built-for-all-lifestyles/
December 1, 2021 in Technology
Capstone Connected, a model identified for creating consumer-driven merchandise that bridge know-how and design, has launched its newest product, referred to as the Thin Cast Smart Mirror. This consists of an 18.5-inch touchscreen show, Android compatibility, twin audio system, and two methods to work together with them. They additionally are available in two sizes and are designed with a number of life in thoughts.
Smart mirrors are available in two completely different fashions. The customary mannequin measures 32.5 x 22.5 x 1.25-inches and weighs 16 kilos. This mannequin is good for hanging round the home in locations reminiscent of an entryway, kitchen, or behind an arrogance. The full-length mannequin is called the Fitness/Lifestyle Model, and measures 60 x 22.5 x 1.25-inches and weighs 37 kilos. The health/way of life mannequin is ideal for the bed room or residence gymnasium. Both mirrors are simple to put in with their very own mounting gear and {hardware} for wall hanging or flooring standing installations. After establishing the mirror, merely plug it into an influence outlet, connect with Wi-Fi, and select the way you wish to work together with it—you then’re able to race.
There are two modes of Capstone Connected Smart Mirror. The Smart 1 mode options the model’s Thin Touch know-how. This mode permits you to management the mirror like a pill together with your touchscreen. You may also use a few of the pre-installed apps to examine issues just like the time, the Internet, or your calendar, or you’ll be able to obtain different apps for extra performance, like YouTube.
Capstone Connected
The Smart 2 mode makes use of the model’s Thin Cast know-how, permitting customers to reflect or forged content material from their smartphone. In this mode, you can also make any app in your cellphone seem in a bigger measurement utilizing the mirror’s show. You may also pair this characteristic together with your cellphone’s voice assistant to see solutions and searches on a extra outstanding show. Casting permits you to present exercise or dance movies within the mirror, so you’ll be able to observe alongside whereas monitoring your actions with out paying any extra subscription charges.
Both mirrors have a glossy and easy frameless design that may match into any residence. They deliver know-how seamlessly into your own home no different place in your house and assist you to keep extra linked than ever.
Thin Cast Smart Mirrors are on sale now. The customary mirror retails for $799, whereas the health/way of life mirror goes for $999. For the complete month of December, Capstone Connected is providing a $100 introductory worth low cost on the acquisition of any mirror capstone website, Amazon will even inventory these mirrors for these of us who’ve Prime memberships.
Item 7.01 Regulation FD Disclosure.
source
https://sec.report/Document/0001575705-21-000817/
Published: 2021-11-30 16:23:52-05:00
Submitted: 2021-11-30
As previously reported, on November 24, 2021, Capstone Companies, Inc. (“Company”) issued a press release announcing a webcast and conference call at which Stewart Wallach, the Company’s Chairman of the Board of Directors and Chief Executive Officer, will update the status of the Smart Mirror product launch as well as marketing directives leading up to the Consumer Electronics Show 2022. The Current Report on Form 8-K filed by the Company on November 24, 2021 with the Commission inadvertently listed the date of the conference/webcast as December 8, 2021, instead of the correct date of December 1, 2021. The November 24, 2021 press release issued by the Company stated the correct date of December 1, 2021, for the conference/webcast.
Digital twin + industrial Internet: Musk's aerospace industry Internet era is here.
source
https://inf.news/en/aviation/fb1b8cb060ad3db385950c577f8555a8.html
2021-11-30 18:44 HKT
When the SpaceX manned spacecraft was successfully launched at the Kennedy Space Center in the United States in the first half of this year, you may not have thought that Musk's historic realization of the first commercial manned space at the same time also solved the problem that NASA needed to spend 140 million (RMB) to solve at a low cost. Particle flip puzzle.
Do algorithm calculations. The purpose is to make 0 and 1 a good mess, to prevent the particles from flipping and causing the rocket to explode.
"Space X programmers use C++, open source GCC or GDB as the main control program of the rocket, and use Matlab for knowledge graph weaving and data analysis, modeling simulation and matrix calculation, and the physical world rocket launch process'digital twin 'Go to the bit world (byte) and perform a'sand table deduction' to speculate whether it will'particle flip' and how to adjust the parameters'particles will not flip'." IEEE FELLOW (academician of the International Association of Electrical and Electronic Engineers), former Microsoft Asian Academy of Engineering Analysis by Dr. Liu Zhen, Dean and former Global CTO of Swiss Logitech Group.
It can be said that Musk used digital twin technology and concepts to open the great era of the aerospace industry Internet.
Global Digital Twin + Chinese Opportunities in the Industrial Internet.
It is difficult to express clearly what the "Industrial Internet" is in one sentence. The earliest "Industrial Internet" can be traced back to the US General Company's attempt to launch the Predix platform in 2013. The modernization of human society develops along with the process of the industrial revolution. Unfortunately, in the three major industrial revolutions of automation, informatization, and networking, China's industry is basically absent. Until the arrival of the fourth industrial revolution characterized by intelligence. In 2017, the Industrial Internet was raised to the level of China's national strategy, and then included in the seven major areas of new infrastructure, becoming one of the core ideas to help China's manufacturing industry achieve digital transformation and upgrading.
Industrial Internet is a core concept hatched by the fourth industrial revolution. Benefiting from the advantages of manufacturing in China covering all industrial categories and the rapid development of Internet technology, it is possible for Chinese industry to achieve a true "entry card" in the fourth industrial revolution. Bit". According to data from the China Academy of Information and Communications Technology, in 2019, China's data economic added value reached 35.8 trillion yuan, accounting for 36.2% of GDP. In almost the same period, the digital economy of European and American countries accounted for nearly 60% of GDP, and countries such as Japan and South Korea accounted for more than 40%. This shows that China's digital economy still has a lot of room to catch up, and this breakthrough is the 5G+ industrial Internet model.
In a speech at Microsoft Inspire, Microsoft CEO Satya Nadella used "enterprise meta-universe" to describe the future vision of a series of Azure product lines such as digital twins and the Internet of Things. He said: The enterprise meta-universe is a new layer of infrastructure stack created to integrate the virtual digital world and the physical world. The platform integrates the Internet of Things, digital twins and mixed reality. "You can start from the digital twin and build a rich physical or logical digital model, whether it is an asset, product or a complex environment, that can cross people, ground, things and their interactions. The digital twin is bound to the physical world in real time, and you can Use mixed reality, monitor the environment and collaborate in it."
With the continuous integration of the real physical world and the virtual digital world, the enterprise meta-universe will become an indispensable new type of infrastructure for every enterprise, and more and more technology companies have begun to settle in the construction of the digital economy. WIMI.US, a Nasdaq-listed company, also saw the opportunity of digital twins + Industry 4.0, and strategically invested in Wuxi Sandiren culture to build a meta-universe ecosystem, backed by high-quality resources and continued to deepen the diversified digital economy, and guide digital The deep integration of the economy and the real economy, through the industry 4.0 digital twin technology, has created a meta-universe safety production line for enterprises, provides safe production and cost-effective services, and truly realizes the future vision of enterprise safe production. At the same time, WiMi Hologram is committed to integrating internal and external resources through the "5G + Cloud + AI" technology integration, relying on full-stack full-scenario AI solutions, ultra-high performance and high cost-effectiveness of diversified cloud service architecture, collaborative ecology and Differentiated advantages such as global localized services and support enable enterprises to accelerate their intelligent upgrading and transformation and business innovation.
Digital technology is spurring changes in the world. Whether it is domestically or globally, the booming trend of the digital economy is irreversible. In each era, there will be some giants. Siemens and Honeywell appear in the automation era; Microsoft and IBM in the information era; and in the network era we see Apple and Amazon. In the digital age, the digital twin + industrial Internet is not only likely to become a stage for China's Internet to show its talents, but it is also an opportunity to achieve "curving overtaking".
The 4 most undervalued stocks of Meta Universe at the end of 2021 have an infinite business future.
source
https://finance.sina.com.cn/blockchain/roll/2021-11-30/doc-ikyakumx1149598.shtml
November 30, 2021 15:04 Market Information
If the meta universe moves from concept to reality, a large number of rich people will be born. In addition to Meta Platforms, which is now in the media spotlight, Meta Universe stocks such as Nvidia and Roblox have also attracted great attention. But there are also some Meta Universe stocks that may not have entered the eyes of investors, but have huge potential, such as Matterport, Immersion, WiMi Hologram, and Unity Software.
- Matterport's digital twin technology can bring the physical world into the meta-universe;
- Immersion's tactile technology will win the explosion of demand in the meta-universe era;
- WiMi Hologram is committed to building a meta-universe holographic ecosystem with holographic AR technology; and
- Unity Software It is the world's leading platform for creating and operating interactive real-time 3D (RT3D) content. Unity engine has been widely used in games and industrial scenes.
1. Matterport (MTTR.US)
In some people’s imagination, Metaverse is a giant video game, but a more accurate description should be a 3D virtual world that can be faked. To introduce the physical world into the meta-universe, Matterport Inc's technology may be used.
Matterport's technology helps to create a "digital twin" of physical space, whether it is a house, apartment, office, ship, etc., that can be digitally copied. The company currently has 620 management spaces, which is more than 100 times the total of its competitors.
Digital twins are widely used. Buyers can view houses in 3D. Designers can introduce digital twins into computer-aided design software to improve the efficiency of building information modeling. Insurance companies can use 3D models of property losses to increase the speed of claims settlement. These use cases It's just the tip of the iceberg. Matterport estimates that the total market size of these applications exceeds $240 billion. If Metaverse is added, the opportunity is even greater.
Although Matterport's stock price has more than doubled so far this year, its market value is still only about $6 billion. Even if it doesn't count as Metaverse, the company has a lot of room for growth.
2. Immersion (IMMR.US)
So far this year, the share price of technology stock Immersion Corp has almost been cut in half. The market value is now only about $200 million, but Metaverse may provide a huge opportunity.
The company is a pioneer in the field of haptic technology development, holding more than 1,700 haptic technology patents that have been issued or applied for. Immersion's business model is to provide licenses for these technologies to manufacturers, and customers include automotive suppliers, gaming device manufacturers, and mobile device manufacturers. A large number of companies such as Apple, Bosch, Google, Nintendo, Samsung, and Sony use the company's haptic system.
3. Wimi Hologram (WIMI.US)
At present, the stock price of WiMi Hologram has been severely undervalued after its listing on Nasdaq. The company focuses on computer vision holographic cloud services, and is one of the better integrated entities in the holographic cloud industry in terms of scale, coverage of the industry chain, and performance in China. , The goal is to become a holographic cloud platform with potential and international influence.
WiMi Hologram is known as the "first stock of meta-universe holographic AR", and has a number of key patents and meta-universe holographic content in the fields of meta-universe, augmented reality and virtual reality. WiMi Hologram is mainly concentrated in professional fields such as vehicle AR holographic HUD, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation, meta-universe holographic AR/VR equipment, meta-universe holographic cloud software, etc. . WiMi Hologram provides a new way of content creation with AI+AR, creating more than 4600 high-quality, high-fidelity IP content, and quickly constructing meta-universe content that is interactive, entertaining, and visible Ecosphere.
From the perspective of the investment sector, WiMi Hologram has established a huge technology research and development ecosystem in the holographic AR industry through investment and mergers. Current investments include Yunview Research, Wuxi Sandiren Culture, Simaiyun, Yunfan VR, Shenghuo Technology, Zhida Many companies in the holographic industry, such as culture, open up the holographic upstream and downstream platforms to build a complete industrial chain of meta-universe with expansive power.
4. Unity Software (U.US)
Unity’s revenue for the quarter was $286.3 million, an increase of 43% from the third quarter of 2020. Unity built its own business model backed by the golden mountain of games. Neewzoo, a game market research organization, predicts that the total revenue of the video game industry will reach 175 billion U.S. dollars in 2021. More than half of the world's games are developed on the basis of the Unity engine. In the field of mobile games, this proportion exceeds 70%.
Unity currently covers the four major fields of games, automobiles, transportation and manufacturing, film and animation, architecture, engineering and construction. For example, BMW uses Unity to conduct autonomous driving tests. At the end of October, Unity won the 2021 China Automotive New Supply Chain Top 100 Software Category Award for its intelligent and connected car human-machine interaction (HMI) solution.
Many big bosses in the business world are optimistic about the business future of Meta Universe. PricewaterhouseCoopers predicts that the market size of Meta Universe will reach US$1.5 trillion in 2030. Morgan Stanley analysts headed by Brian Nowak also predict that the total potential market of "Meta Universe" will exceed $8 trillion, and it may become "the next generation of social media, streaming, and gaming platforms." (Financial Investor)
To win the Winter Olympics technology first, ChinaSoft International joins hands with the First Sports Academy and other units to create Beidou "black technology" to support scientific training.
source
http://www.chinasofti.com/news/2312.htm
2021-11-30
The Beijing 2022 Winter Olympics is approaching. In order to implement the concept of “green hosting of Olympics, shared hosting of Olympics, and open hosting of Olympics”, ChinaSoft International has actively participated in the Beidou Winter Olympics service project and joined hands with the Sports Artificial Intelligence Research Institute of Capital University of Physical Education and Beijing Enterprises Group, Xiwu Laser, Polaris Cloud, Beijing Institute of Technology, Hanlang Technology and other units have pioneered the Beidou + Winter Olympics athlete training technology support intelligent support system, and used technological innovation capabilities to help the digital and informatization construction of the Beijing 2022 Winter Olympics to show the world The wisdom and strength of China's "together to the future".
Since the successful bid for the Beijing 2022 Winter Olympics, the "Science and Technology Winter Olympics (2022) Action Plan" has been fully launched, and key tasks have been vigorously promoted. In this context, as the industry’s leading global software and information technology service company, ChinaSoft International has joined hands with the Capital Institute of Physical Education and other units to create the Beidou + Winter Olympics athlete training technology support intelligent support system, including the Yanqing competition area display platform system and APP software. Among them, the first large screen in the display platform system of the competition area integrates the video of the skier's motion capture and analysis system, the video of the snow sports environment guarantee decision-making subsystem and the video of the Western wind speed radar subsystem, and the second large screen is mainly used for the ski staff The management and display of the snowfield make it easy for managers to grasp the dynamics of the staff in real time, prevent accidents of the staff in the ski resort, and escort the safety of the Winter Olympics. The APP software uses Beidou three-dimensional positioning technology combined with three-dimensional map information to achieve high-precision positioning, fast service and accurate response.
ChinaSoft International, together with the Capital Institute of Physical Education, Beijing Enterprises Group, Xiwu Laser, Polar Nebula, Beijing Institute of Technology, Hanlang Technology, and many other units, pioneered a wearable positioning terminal with Beidou centimeter-level positioning accuracy, and output frequency in a ski track at a speed of 130KM per hour. Reaching 50Hz, optimizing the accuracy of the Beidou single positioning differential algorithm, giving full play to Beidou's high-precision technical advantages and national strategic role in the sports field. It is the integration and innovation of Beidou technology and the sports industry, making Beidou technology more suitable for sports and health scenarios. Promotion value. At the same time, the three parties jointly developed a "sensing network" system that integrates Beidou's precise time-space technology, using advanced "human-machine-loop" sensing systems and smart devices, and through sports big data analysis and artificial intelligence technology services, it not only supports the alpine skiing team The preparations for the sled and snow team also ensured the event environment and the safety monitoring of the staff, [b[color=green]]making science and technology sports a new carrier for the development of Beijing's digital economy.[/color]
With strong professional technology and innovation capabilities, the ChinaSoft International team has overcome difficulties all the way and played a leading role in the development of multi-party cooperation and coordination verification technology; at the same time, in the face of the harsh on-site environment, team members adhere to the "struggle-based, achievement The core value of "customer" overcomes one practical difficulty after another, guarantees the timely and high-quality delivery of the project, and is highly recognized by partners and customers.
The Science and Technology Winter Olympics will undoubtedly become a milestone in the construction of my country's smart sports industry. ChinaSoft International has always been exploring to empower scientific and technological innovation capabilities in sports construction. Prior to this, ChinaSoft International used its software industry Internet platform-Jiefang as a breakthrough, and achieved strategic cooperation with the National Sports Intelligence under the State Sports General Administration, which has blossomed in multiple business areas:
in the field of comprehensive fitness, ChinaSoft International has joined hands with the National Sports Intelligence to build The National Fitness Information Service Platform project was launched as the only entrance of the Group Department of the General Administration of Sports of the State Council on the public platform of the State Council to promote the development of smart fitness for all; the two parties established the National Sports Wisdom (Beijing) Open Laboratory and completed the stadium information digital supervision management system The trial operation of the company, and the establishment of industry standards and standards, national industry training, and the establishment of cooperation agreements have achieved initial results. Focusing on the active health business, the normal application of the system in major scenarios such as training teams and fitness centers has been realized, which has established basic support for later promotion and application and project implementation. In terms of national sports informatization and scientific and technological issues, it has completed the targeted optimization and independent deployment of the "Code Intelligence Escort" series of products of the General Administration of Sports, and has cooperated with the completion of the application of multiple projects and topics of the Ministry of Science and Technology.
If sports are strong, China will be strong, and national sports will flourish. ChinaSoft International is willing to use its software service capabilities to help the Beijing 2022 Winter Olympics to be successfully held in "green, shared and open"; it will also give full play to its digital capabilities, focus on application scenario innovation, and explore more real power to empower the construction of smart sports Point, to provide comprehensive scientific and technological support and assistance for the realization of the goal of a sports power and a healthy China.
Earnings Call Transcript - CloudMD Software & Services Inc. (DOCRF) CEO Essam Hamza On Q3 2021 Results.
source
https://seekingalpha.com/article/4472428-cloudmd-software-and-services-inc-docrf-ceo-essam-hamza-on-q3-2021-results-earnings-call
Nov. 29, 2021 9:03 PM ET
Company Participants
Julia Becker - Vice President, Investor Relations
Essam Hamza - Chief Executive Officer & Director
Karen Adams - President & Director
Daniel Lee - Chief Financial Officer
Conference Call Participants
Scott Schoenhaus - Stephens
Rob Goff - Echelon
Nick Agostino - Laurentian Bank Securities
Yue Ma - Research Capital
Gabriel Leung - Beacon Securities
Operator
Good afternoon and welcome to the CloudMD Q3 Twenty Twenty One Earnings Conference Call and Webinar. My name is Valerie and I will be a conference facilitator today. As a reminder, this conference call is being recorded. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer period.
Thank you. It is now my pleasure to turn the call over to Julia Becker, Vice President, Investor Relations with opening remarks.
Julia Becker
Thank you Valerie and good afternoon everyone. Thank you so much for joining us today, November twenty nineth twenty twenty one for our third quarter earnings conference call and webinar. We’ll start the call with our CEO, Dr. Essam Hamza, followed by our President, Karen Adams, and our Chief Financial Officer Daniel Lee who will provide a recap the company's third quarter twenty twenty one financial results before opening up for a question-and-answer period from our covering analysts.
A friendly reminder that today's discussion contains certain forward-looking information which involve inherent risks and uncertainties and other factors that could cause actual results to differ materially from management's current expectation.
Forward-looking statements should not be interpreted as assurances of future performance or results. The risks related to the forward-looking information are described in the company's most recent AIF and then the Management’s Discussion and Analysis for Q3 twenty twenty one which are both available on SEDAR.
We encourage you to review our public disclosure in the context of all forward-looking information that you may here today during this earnings call. Investors are cautioned not to place undue reliance on such forward-looking information and that such information is considered reasonable, based on information available to management as of today. However, the company disclaims any intention or obligation to update and review any forward-looking information as a result of new information, future events or for any other reason except to the extent required by law.
With that, it is my pleasure to turn the call over to Dr. Essam Hamza, CEO of CloudMD.
Essam Hamza
Thank you, Julia. Good afternoon and thank you for joining us for our third quarter twenty twenty one earnings call. We are delighted to share our financial results representing the first full quarter with all of our previously reported acquisitions closed and consolidated. This is the first quarter where our investors can start to see the full impact of CloudMD’s strategy. Through the execution of the strategy, we generated thirty nine point two million dollars in revenue, representing over one thousand percent year-over-year growth and positive adjusted EBITDA, demonstrating the operating leverage inherent in our business model.
We've increased our adjusted EBITDA margin for six consecutive quarters as we've successfully executed on our integration playbook to generate significant synergies. Let me now talk briefly about the underlying philosophy guidance and has led to those outstanding results. CloudMD was born out of the frustration of dealing with inefficiencies and ineffectiveness of the traditionally broken healthcare system. Many of you are here because like us, you recognize the feelings of that system, for example, inefficient use of resources solid care, how data technology, employers or payers dealing with rising cost despite worsening outcomes and doctors and nurses that are overwhelmed and exhausted.
Our team of dedicated medical professionals understand the historical shortcomings and the different pinpoints of those various stake shorts of stakeholders. As a result, we have created a health tech company leveraging proprietary patented technology which is focused on an integrated outcomes based approach to healthcare delivery, and which improves efficiencies provides better access of care and better health outcomes.
We know that payers and providers prefer integrated end-to-end solutions because of simplifies partnerships, improves return on healthcare spend and leads to better individual health outcomes. We've carefully built a leading integrated solution through a combination of strategic acquisitions and purposeful technology innovation.
All these targeted acquisitions fill an essential part of our healthcare ecosystem in either our Enterprise Health Solutions or Digital Health Solutions product roadmap. Most of these were not for sale on the market and we're found that company is that like you align with the CloudMD vision. We are uniquely positioned to deliver a comprehensive integrated health offering based on our Patented Real Time Intervention Platform or RTIP which supports data and profitability, cybersecurity and the ability to merge separate applications into a single platform. It is the backbone of our comprehensive platform and allows us to integrate various health capabilities such as care navigation, physical health, mental health, virtual care, and health education to name a few. This integration allows us to navigate an individual's unique health journey within one connected platform and provide outcome data back to the stakeholders.
Our techniques that much easier and more effective for us to continue adding new capabilities onto the platform share data in real time and operate as an end-to-end solution. It also allows us to scale rapidly and enter new geographical locations by plugging provider networks into our backend. On the call today,
I'm going to have Karen talk about three key focus areas that are driving growth and shareholder value.
- One, we are driving synergies and integrating capabilities to improve growth and profitability.
- Two, through our Enterprise Health Solutions division, we are delivering an excellent end user experience for all stakeholders which is driving successful customer acquisition.
- Three, through our Digital Health Solutions division, we have developed proprietary technology that enables engagements of individuals in supporting health issues, while at the same time empowering regulated health professionals productivity.
I'll now pass it over to Karen to review in detail how we all execute again each one of these focus points. Karen?
Karen Adams
Thank you, Essam. I'm very proud of our strong solid performance in Q3 twenty twenty one. The team has done an incredible job creating a growth oriented efficient profitable business that provides a superior product for the markets we serve. Our business units have accelerated our ability to transform the way healthcare is provided with a focus on an engagement, proactive measurement and health outcomes.
I want to turn to the focus areas that Essam outlined.
- Focus one, we are driving synergies and integrated capability to improve growth and profitability. In our most hypergrowth phase, we completed fourteen acquisitions. This is the first quarter where we can recognize the full benefits of those acquisitions. We have successfully identified and realized significant revenue expansion and cost synergies as we executed on our integration playbook. We've identified and executed on one point five million dollars in annualized synergies this quarter, significantly more than we announced at the time of those acquisitions.
In Q3, we continue to execute on our integration plan by bringing businesses together in our operating divisions creating strong operational leverage. In addition to that, we drove reductions in administrative technology, finance and data costs through implementation of the shared services model. We also continue to reduce customer acquisition cost by increased revenue synergies, unified sales strategy and an expanded client base from these already proven capabilities.
Internally, we are tracking and focusing on attach rate and while it is not a measure we are sharing yet, this cross selling will be a key driver of growth going forward. We are creating clients success teams that enable our ability to work with clients on their health and productivity needs, while creating multi products solutions with measurable outcomes.
We are able to demonstrate declines for the first time evidence that the programs they implement improved symptoms and well-being using the right group benefit program. The results of our hard work are clear, we've grown annualized revenue per share every quarter with that number more than doubling from Q2 to Q3. We've also improved adjusted EBITDA margin each and every quarter this year as we've given synergies and generated operating leverage
We've taken a disciplined approach to integration with well-defined processes and a dedicated team. Our Mental Health Support Services or MHSS is a perfect example of a focus on growth with the right cost structure. We've integrated people process and technologies of three separate EAT and mental health companies into one solution. Providing what our clients are defining as first end market solution.
We are leading the industry and mental health coaching and navigation while seeing client adoption and annualized organic growth of sixteen percent. The acquisition of MindBeacon is expected to solidify our position as we're leading North American comprehensive mental health solutions that uses a clinical data driven approach to engage in monitor improvement for return to function.
The proven capabilities of MindBeacon internet based cognitive behavioral therapy or commonly referred to as iCBT coupled with our employee assistance program and our industry leading health coach and navigation solutions are a powerful synergistic combination of industry leading program. We are confident that with MindBeacon, we will be able to replicate our integration strategy and upon close with a comprehensive product and media cost savings and revenue expansion through our broad client base.
We plan to continue to create a stronger and more profitable company by sticking to our disciplined approach to M&A are well defined innovative capabilities roadmap and executing on our proven integration playbook.
- Focus two, through our Enterprise Health Solutions Division, we are delivering an excellent end-to-end user experience for all stakeholders which is driving successful customer acquisitions. Our Integrated Health services platform continues to provide an outstanding measurable results for our client. We're seeing a net promoter score of over eighty, a ninety eight percent user satisfaction rate for our Mental Health Support Services and increasing client adoption rate quarter-over-quarter.
This points to the fact that we were providing a measurable return on our client's healthcare spend, which is very important as healthcare costs are rising and it becomes increasingly important to demonstrate value to the market you serve. As a result of these outcomes client adoption of our solution accelerated in Q3. Our strong sales conversion experience has resulted in an additional one hundred and sixty four customers adopting our Enterprise Health Solutions offering, up from one hundred and fifty six in the previous quarter. This includes new clients in such, sectors as retail, transportation, financial and two large drug companies. We now have a total of five hundred and sixty thousand lives on the platform up from two hundred and sixty thousand lives in Q2.
It is also important to note, we are performing incredibly well with a win rate of ninety percent based on our strong assessment, navigation and value proposition. We have a number of proposals out with clients in our absence management and occupational health business to provide comprehensive health and wellness support. We are leveraging our assessment business to provide a more comprehensive offering with the addition of our mental health treatment, resulting in reduced disability dates and higher client satisfaction.
I'm also proud of our mental Health Support Solutions team in the announcement this morning by Sun Life. Sun Life started as a paid pilot earlier this year for their employees. The pilot delivered measurable mental health results, including eighty nine percent of those suffering from depression and ninety one percent suffering from anxiety, experiencing major improvement. It also saw forty six percent increase in plan members, utilizing their mental health benefits for the first time.
It is my authorization that during the last year companies are clearly demonstrating their commitment to mental health by expanding EAP programs and including an increase of paramedical spend to ensure access to care. Our EAP program was founded on nurse navigators to improve the planned member experience. This increased spend in paramedical benefits for mental health will only be a benefit when you pair it with health coach to ensure the right program with the right therapist and accountabilities for outcomes. This program is proving to deliver on just that.
Based on the results Sun Life converted from a pilot to a partner and will roll out our health coach product across planned sponsors throughout twenty twenty two as part of its group benefits offering. We are appreciative of the supportive Sun Life in recognizing the importance of this type of program we have developed.
To compete in the future, you need to provide whole person team based care that produces measurable results. Our comprehensive platform is providing this clients and their members driving new client wins and growing share of clients well. Our comprehensive platform addresses mild, moderate and acute and chronic mental and physical health with a variety of treatment options from low intensity to high intensity, and most importantly, one that shows data across all treatment types to continue to improve outcomes for individuals, practitioners and payers.
Finally,
- focus three. Through our Digital Health Solutions division, we are developing proprietary technology that enables engagement of individuals and supporting health issues, while improving regulated health professionals productivity. The Digital Health Solutions division launched a new unpaid pilot program in Q3, which is a long-term care product focused on lowering risks and improving the quality of life through better digital screening, tracking and monitoring. We've also been in user testing for our new online eye examination expected to launch in early twenty twenty two.
These are just some of the examples of our team working hard on new innovations that will drive growth in the future. MindBeacon speaking [Indiscernible] box and another development we are excited about and believe will be additive to the various tools, we can provide practitioners in our clinical network. It has a white label iCBT that they can use to augment their care. One of the other large drivers of growth in the quarter was our real time intervention platform. While RTIP is the backbone of our comprehensive health ecosystem. We also sell it on a contract basis.
During the quarter, it’s strong growth from new contracts with various federal and state level entities in the United States. RTIP is being used in the battle against substance as an innovative health data integration and Security Technologies Solution leveraging various information sharing standards and is already operational across thirty eight states and local agencies to adjust equal point crisis.
With that, I'll pass the call to Daniel to further discuss our financials.
Daniel Lee
Thank you, Karen. By Essam and Karen touched on, this was the first quarter with all of our previously announced acquisitions before we consolidated providing a clear view into our business. We have built this company for sustainable growth and operating leverage which will allow us for future tuck in acquisitions, but we are very pleased to share the early results on those efforts with you. Q3 twenty twenty one total revenue was thirty nine point two million dollars compared to fifteen point seven million dollars in Q2 twenty twenty-one and three point six million dollars in Q3 twenty twenty. The increase is attributed to having a full quarter contribution and the four acquisitions completed in Q2 twenty twenty one. Excluding acquisitions, the company had achieved a strong year-over-year overall organic growth rate of eleven percent.
Enterprise Health Solutions contributed nineteen point six million dollars in the quarter as Q3 included full quarter contribution from Oncidium. During the quarter, Oncidium had elevated revenues above and beyond the previously announced run rate due to some short term pandemic related services. The pandemic has highlighted the need from mental health and are comprehensive offering and help employers improve the well-being of their employees.
The Enterprise Health Solutions Division also achieved a sixteen percent annualized growth rate from the Mental Health Support Services to business compared to Q2 twenty twenty one. As Karen stated, we continue to add new customers in the quarter, and we are excited about the proposed acquisition of MindBeacon and how its iCBT solution will augment our comprehensive offering and expand a number of treatment options for individuals.
We continue to market these solutions as standalone but are winning based on offering a variety of solutions and the option for end-to-end integration care. Digital Health Solutions generated ten million dollars in revenues as we signed and executed new customer contracts adding to our strong recurring and recurring revenue base.
Digital Health Solutions achieved a forty three percent annualized organic growth rate over Q2 twenty twenty one. This increase was primarily due to solid execution of delivering contract services to various U. S. Government agencies. Clinics and pharmacies continues to perform well with nine point six million dollars revenue during the quarter, representing two twenty nine percent year-over-year growth. Including the proposed acquisition of MindBeacon, which will be integrated into the enterprise Health Solutions Division upon close. We expect approximately fifty five percent of our revenues to be earned from the enterprise Health Solutions Division approximately twenty five percent from Digital Health Solutions and approximately twenty percent from clinics and pharmacies.
Looking ahead to Q4, it will be a quarter of strict organic growth as we do not anticipate closing any new acquisitions during the quarter. We target ten percent year-over-year organic growth but recognized that a quarter-over-quarter growth is in straightforward due to things like contract timing and seasonality. Gross profit in the quarter was thirty four percent down from thirty five point five percent in Q2. The slight decline was due to a change in mix of revenue, notably, our online eyewear platform, specialty drug wholesaler and patient support programs which are currently lower margin businesses grew rapidly in the quarter and made up a larger proportion of total revenues. While we expect some fluctuation in gross margins going forward, due to the shifting mix, we continue to target a low to mid thirty percent gross margins. We've done an incredible job and I'll take a second to pause and commend the team on their ability to drive synergies and control costs as we've scaled.
This quarter, we added an incremental twenty three point five million dollars in revenues while only increasing operating expenses by five point six million dollars. To put it another way, we decreased operating expense as a percentage of revenue from seventy nine percent in Q3 twenty twenty to thirty two percent a year later in Q3 twenty twenty one.
We believe we are proving we can integrate acquisitions, drive cost savings and increased profitability. While there may be some momentary step backs in this trend as we consolidate my begin. I have complete confidence in our ability to once again execute and produce a same cost savings and profitability. I'm proud to say that this quarter, we reached positive adjusted EBITDA for the first time. We generated eight hundred thousand dollars in positive adjusted EBITDA were at two percent adjusted EBITDA margin. We expect continued improvement into Q4 as we find additional cost savings and improve our operating leverage for a temporary step back as we consolidate MindBeacon in Q1 twenty twenty two.
We ended in Q3 with fifty four million dollars in cash. Following the closing of the MindBeacon acquisition and after all payments in respect of that transaction, we expect to have over sixty million dollars in cash on hand. We expect that there will be more than enough to continue to execute on a strategic roadmap, integrate our capabilities and improve profitability.
I'll now pass it back to Essam for some final comments.
Essam Hamza
Thank you, Daniel. So, we've outlined the vision for our shareholders of an integrated outcome driven health tech platform. We are executing on that vision adding capabilities through acquisition and innovation to create a full service offering that eliminates Indiscernible care and through our patented data onto our profitability platform interact smoothly together to create individual – better individual outcomes.
Each quarter, the fundamentals of our business have improved, and we demonstrated that the plan we have in place is the correct one and that we have the team necessary to execute on it. Over the last year, we've grown revenues over a thousand percent and even on a per share basis, which accounts for dilution used to build the platform, we've grown it four eighty five percent year-over-year. We've improved profitability every quarter and most importantly, the offering we have represents to – find the represent to client stage is now stronger than when it was years ago – a year ago.
Our recently announced transaction with MindBeacon is another step on our roadmap, which will bring in another important capability by buying the leading product provider in the market today. While we expect to take a short-term step back in profitability, we anticipate that we will once again drive improved profitability and per share revenue as we integrate the scale and scale this new capability. To that end, we've already identified an additional two million dollars in potential synergies over and above will be announced at the time of the – that MindBeacon announcement. I'm incredibly proud of what our team is building. Their hard work, dedication to cost control and focus on delivering superior healthcare outcomes has made this possible.
With that, I'd like to open the call for questions. Operator?
Question-and-Answer Session
Operator
Thank you. Ladies and gentlemen. Our first question comes from Scott Schoenhaus with Stephens. Your is open.
Scott Schoenhaus
Hi Essam and team. Congrats on the strong quarter. I wanted to dig further into the pending MindBeacon acquisition you recently announced. I believe MindBeacon had us around fifty five hundred corporate clients currently, just wondering if there was any client overlap there at all with any of your EHS customers and how you see the cross selling opportunities once this pending acquisition is closed?
Essam Hamza
Yes, thanks Scott. It's a great question. The great thing about our roadmap that we had and with each one of our acquisitions that we targeted. There are great companies on their own growing on their own, but together, we saw a lot of opportunities for cross selling. There is some overlap of the customers and I'll have Karen kind of explain a little bit in terms of our cross selling strategies going forward.
Karen Adams
Thanks for the question. So, there are some clients that are overlap, but the interesting thing is that as clients are looking to consolidate capabilities and delivers the superior product to their employee. We see this as a great opportunity for the iCBT product and our Mental Health Support Solutions to come together to provide access to care and really start to align to people's preferences for how they receive treatment. So for us, this is going to be a win win for the clients and our ability to come together with a solution that I think we will provide stronger outcomes for the people using services. And I should mention we've already had some of the clients reach out to both organizations asking to get together to start to talk about what this new products offering can look like as a cohesive platform.
Scott Schoenhaus
Great. That's great color, Karen. Then as a follow-up, how should we think about ongoing growth and adjusted EBITDA margin expansion in the longer term. Should we expect gross margins to expand in EHS past the legacy fifty percent levels that MindBeacon was achieving on the gross margin side given the larger scale and then the cost synergies over the next several years on the EBITDA margin side. Thanks guys.
Essam Hamza
Yeah. Thank you. Dan, if you can speak a little bit to the gross margin and the plans for that.
Daniel Lee
Sure, great. Thanks for your questions, Scott. So with respect to MindBeacon, they do operate a much higher gross margin. And so we do expect that with upon the completion of MindBeacon, which will occur, which we anticipate, will incur sometime in January that will increase our gross margin. For Q3 twenty twenty-one, our gross margin for Enterprise Health Solutions, I believe we reported on our financials forty two point nine percent and so we do expect that to gravitate to the mid-forty percent if not even higher than that. And so we can, we do expect that there will be significant synergies as it relates to the cost of sales within MindBeacon as well as within CloudMD.
With respect to EBITDA, we are – so we did announce initially a ten million dollars and annualized cost synergies. In addition to what Essam had mentioned earlier on the call, we've identified a further two million dollars and so we've begun having discussions with MindBeacon on integration plan and we will provide a further update to the markets following that, but we do have plans to return back to profitability and what I would say is that, we do expect sometime in the back half or as we exit twenty twenty two for us to be approaching back to profitability once we start executing on some of these integration efforts and start realizing synergies.
Scott Schoenhaus
Thanks, Steve.
Operator
Thank you. Our next question comes from Rob Goff of Echelon. Your line is open.
Rob Goff
Thanks for taking my question and congrats on a very [Indiscernible] total of quarter. My question would be on the Sun Life contracts. To the extent possible, can you talk to the model behind the contract? In terms of the potential addressable market for [Indiscernible] perhaps with a competitive win and how MindBeacon fit into this contract?
Essam Hamza
Thanks, Rob and you're right. It has been pretty eventful. We've incredibly excited with our relationship with Sun Life. They're incredible leaders in their space and innovators and they share a lot of the same values that we have, and it validates what we've been talking about in terms of measurable results for employees and showing outcome data the value of that. So we're incredibly excited to partner with them. What I'll do is, I'll hand it over to Karen talk a little bit about the structure and the plans with Sun Life.
Rob Goff
Great. Thank you.
Karen Adams
Thank you. Great question. So, we refer to the throughout the year as the paid pilot where in Sun Life rolled it out to their employees and we're very proud of the results. This is a price, this is basically a model where employee connects as a platform and really start to get some help for mental health through a coach and one of the biggest challenges for individuals to get help is just the whole starting treatment. And so, we find that the coach is really good at producing stigma creating engagement and really creating a treatment plan with objectives that people can adhere to. So, that's really the product that we have created.
It is an evidence based product. I think you would have seen in the press release, we're seeing very good improvements in depression and anxiety that plan members are actually using their mental health benefits now to access for treatment. The plan with Sun Life is to roll it out for all of their plans sponsors over time. And we're just really excited that they selected CloudMD and the program – the platform that has the health coaches that enable people to get access to care.
Rob Goff
Thank you. And if I may one follow-up Karen.
Karen Adams
Sure.
Rob Goff
Skew with the EHS, could you talk to your cadence for contract wins and that win rate on quarter?
Karen Adams
Yes. So, I mean when we get in front of a customer, I think our big opportunity here is just the breadth of services that we provide, and I think that where we've really seen when we do debrief with clients when they select us, and I can ask why they select us. And I think we're seeing quite a traction around the value proposition of the assessment and the tools and the innovation around the platform, but really what speaks to people is that all of the capabilities that we brought to the forefront has been capabilities that have proven for twenty plus years. And so, we've taken them consolidated them and really created one cohesive platform for people to access the service.
From the win rate, so I would say that the largest posture for us is these nurse navigators. In this whole concept of using a regulated health professional as the lead to build the trust to really ensure that people are actually accessing the right group benefit programs. So, it's really getting in front of the customer and that's where that win rate is coming from.
Rob Goff
Thank you again.
Operator
Thank you. Our next question comes from Nick Agostino of Laurentian Bank. Your line is open.
Nick Agostino
Yes, good evening. I guess couple of questions for clarification. First, for Dan, you mentioned gross margins forty percent as you include MindBeacon. Can you just clarify, was that forty percent on the EHS side or was that a forty percent comment or forty five percent comment related to the overall business and what were the timelines on that?
Daniel Lee
Yes. So Nick, just to clarify, so the comment I made was more so just with respect to EHS. So one of the things that we've now disclosed in our notes to our financial statements is the gross margin profile of our divisions and so what you'll find is that we reported forty two point nine percent gross margin for Enterprise Health Solutions in Q3.
Nick Agostino
Okay. That's very helpful. And then on those further two million dollars of identified synergies. Can you guys, can you provide commentary as to what areas like what the nature of the two million dollars of additional synergies? Where is it coming from?
Essam Hamza
Yes. I mean, first of all, when we first announced the first two million dollars with the MindBeacon announcement, it was really the public market costs associated with just running the company and since then, we've continued to work with the teams at time at MindBeacon and internally and those are synergies between the two companies. I'll have Dan maybe speak a little bit more in terms of color around that, but we're also going to keep updating the market next on that so on close we will update that number further.
Nick Agostino
Okay.
Daniel Lee
Yes. So Nick, I can just expand a little bit more in terms of that additional two million dollars. So that's two million dollars and I just want to be clear here as well. So, in addition to the initial ten million dollars that we announced on the announcement date for MindBeacon and in addition to the two million dollars that's Essam mentioned, which is further identification of synergies that we've called out in Q3 itself. We've also executed on identified and execute on further one point five million dollars of annual cost savings that Karen had mentioned. So there's a lot of cost savings and what that is, it’s all coming from the, given the fact that CloudMD has completed, I believe we completed nine acquisitions in twenty twenty one and our integration is very, very much in progress and through those efforts, we've identified, well number one, I think we’ve focused the strategy as part of being CloudMD and advancing our corporate strategy and part of that has helped us be able to be more efficient with other dollar spent and the much more focused in terms of our product roadmap and where we want ahead strategically, but there is also other costs we're taking out the organization just as result of us streamlining our systems. And there has been some duplicate roles where we're now ready to have identified and we will be executing in the very near future. So, two million dollars that Essam had mentioned, it’s, I would say it’s the combination of our existing synergy – synergies from our existing acquisitions we completed in twenty twenty one and partly also influenced by MindBeacon as we welcome them to the organization, hopefully in January.
Nick Agostino
Okay. That was helpful. So, actually just some clear, is that additional two million dollars, was that across, is that MindBeacon specific additional two million dollars or that's MindBeacon plus all your other acquisitions, the additional two million?
Daniel Lee
So it's, I would say it's a bit a book to perfectly on this, right? Because there are, let's just say, two hundred employees from MindBeacon coming in and so we have line of sight in terms of the talent and they have a lot of great people there and so as we – we also did inventory in terms of the people and the processes and cost base within CloudMD as well and so that's why I'm saying it's a bit of both where, we wouldn't be able to execute these ten million dollars in synergies without MindBeacon, right? So, I think it's in anticipation of the other people on the process of some systems that we do have.
Nick Agostino
Okay. Now, that's very helpful. And then just one last question for me on the Sun Life, the coaching angle. Just so I'm unclear with this. You guys provide a coaching service, which I understand when it comes to if there's a therapist that's involved, is that therapist somebody that is on your – somebody internal to CloudMD or is that something you – were you are referring them to a third party group and also maybe speak to how has there been any preliminary discussions with Sun Life to provide iCBT as we move through twenty twenty two on rollouts and adding to all that, can you maybe talk a little bit about what the gross margins are associated with the coaching service.
Essam Hamza
Yeah. Thanks. So with regards to the therapist network. I think we got to kind of talk about two different things. First of all, our comprehensive platform that we offer, we use our own therapist network. So we have steps focus that we can refer to. With regards to the Sun Life one, I'll have Karen speak to the way that was structured?
Karen Adams
So the Mental Health coaching product is a product that we are offering within our Enterprise Health Solution. We have customized it specifically for Sun Life and I would say right now, about fifty percent of the therapist come from a therapist network, it is available on the Lumino platform, that is a Sun Life platform and fifty percent comes from our therapist. It really comes down to preferences type of therapist that they're looking for and the group benefit package that the employer will have. So that's basically where the therapist network comes from with regards to the question on iCBT, we haven't had discussions with Sun Life, it is brand new the MindBeacon, MindBeacon is part of the Sun Life offering. So in due course, we will be able to open up the discussion with Sun Life.
Nick Agostino
Okay. And then with regards to, just maybe a range on gross margins associated with the coaching service?
Essam Hamza
Yes, we don't report on the details of the contract unfortunately at this time.
Nick Agostino
Okay, okay, yeah, appreciate it. Thank you. Thanks guys.
Essam Hamza
Yes. Thank you.
Nick Agostino
Thank you. Bye bye.
Operator
Thank you. Our next question comes from Yue Ma of Research Capital. Your line is open.
Yue Ma
Hi, good afternoon. Thanks for taking my questions. So first for the employer market, the company has been offering multiple solutions. So, for example virtual care, mental health support, we have absence management that's so on. So because my question is based on the curve them, market the penetration rates for those solutions, which area do you expect the generate of the most the cross setting opportunities going forward?
Daniel Lee
Sorry. The most fastest growing…
Yue Ma
Yeah, which area – yeah, which area do you or which solution do you expect generated the most cross setting opportunities?
Daniel Lee
Yes. I mean I think Karen would agree with me, but we can confirm here, but I believe at the Mental Health Services right now is by far what's really driving adoption and it's kind of the leading product and the great thing about it is, it is something that has been underdiagnosed, it's been underutilized, it's been funded and you're seeing kind of right across the board around the world that the stigma has gone and more and more employers and governments and payers are spending more money or allowing more money to be spent on Mental Healthcare and you've seen that with a few announcements from some of the financial institutions where they've increased funding that too, I think ten thousand dollars per member, per employee.
And so the opportunity really is to not only navigate that patient and provide the proper diagnosis, but also provide them the right care and help them identify where to spend that money as well because that's been really where they, I think they fall through the cracks where they don't know exactly what the diagnosis lot of times, they don't get the right therapy and also they don't know how to spend the money and it becomes on spent. Karen, do you have anything else to add it?
Karen Adams
Yes, I'd say I think you asked an interesting question you said and what is, do we anticipate is going to be the highest usage product. So right now, we know that over thirty percent of claim, number of claims for disability or for drug claims is related to mental health and we know that it consumed more than forty percent of the cost for employers. And still, the mental health will continue to be an escalating where people are looking for a solution to truly tackle mental health, not just superficially, but truly tackling report outcome. We anticipate though as a company that health coaching will become our fastest growing service because there's always a large comorbidities between mental and physical health.
So things like carpal tunnel syndrome, things like there's always a comorbidity usually between, not always but you know a large number of cases, the comorbidity where we're presenting with the physical health issue, but the mental health issues rate aside. So what you're going to see I think, from perspective is we will be expanding our Enterprise Health solutions Services to be all income to same to be both a mental and physical health and then you will only see the true impact on absenteeism improving well-being and people reporting better help outcomes.
Yue Ma
Okay. So now you have five hundred sixty thousand covered the lives, based on what you said Mental Health Solutions are expected to be the generally the most cross setting opportunities. Is it fair to say that the market penetration rate of mental health solutions as lowest the penetration rate when you compared to other product solutions?
Essam Hamza
I'm not sure the question, but Karen, did you capture that question?
Karen Adams
Yes. So, I think what you're asking is, I'm going to just answer in a different way you can tell me if it answers your question. There is a large addressable market. I think what we have to be cognizant of is there are a number of solutions out there solving mental health issue and so, I think the market is asking for a more robust solution. They're willing to spend money on it. We've seen a number of organizations increase their paramedical spend. I think that organizations have offered paramedical spend for mental health, the challenge has been employees did not have the right access to care or knowhow to – how do I actually access the therapist spend those dollars. So, I think the addressable market is actually increasing for us. Do we have a low penetration versus some of the larger EAP company? Yes, but we're competing on a comprehensive solution and we're seeing that ninety percent win rate is the adoption rate towards our mental health solutions and enterprise health where people are seeing the benefit of the nurse navigators.
So, we continue to believe that the product developments and the focus we will continue to expand our market share in the verticals that we compete against the capabilities, but we'll also be creating this new market sector around this comprehensive mental health solution. So does that answer your question?
Yue Ma
Yeah. I think so because the way I thought is the product currently has a lower market penetration rate which means has better cross setting opportunities that amount of five hundred sixty thousand cover the lives. That's a point I ask?
Essam Hamza
Yeah.
Yue Ma
I believe that makes sense to you. Okay. I guess my second question is at a high level, can you also please talk about what we can expect for next year in terms of major milestones CloudMD is looking to achieve as well as potential catalysts.
Essam Hamza
Yeah, now, that's a good question. We've done a lot obviously in the last year, we had the roadmap that we laid out and targeted the different acquisitions and brought on different capabilities to execute on what you're seeing now in terms of some of these deliverables. So, we're quite excited about where we are right now, and I don't think you'll see the same acquisition strategy that we had before because we got the – we got most of the capabilities that we needed to execute and so that's important for us. I think now it's about the fact that we've created this, proprietary healthcare platform, it's a health tech conference, it's patented and now we have the ability and to offer it in different locations and so geographical kind of expansion is going to be important, but also being able to offer it and scale basically is really what we're going to be looking for kind of going forward.
And the exciting thing about it is that this is a universal problem that we've kind of identified around North American and around the world. And it's easy to kind of plug and play in the matter where you are with the different service providers and a different provider networks and so that's exciting for us. We have it in different languages and now we are going to look for opportunities to expand it.
So with the MindBeacon acquisition, I think it fits perfectly. We are planning on closing that, I believe in January of this year and we're going to take some time to make sure that we have full integration of that offering. It's a very complementary to what we do. There's going to be a lot of cross selling, we already seeing it as Karen mentioned cross selling interest from our customers, which is great. And then kind of moving forward, I do believe we mentioned earlier that we will be up listen to a senior exchange in the new year and that's going to be another milestone we can look forward to and then just continue to grow and execute on our business plan and what we've shown that we build, it can be scaled quite rapidly. So that would be the main major points.
Yue Ma
Yes, that is helpful. Thank you.
Operator
Thank you. And we do have time for one final question. Our question comes from Gabriel Leung of Beacon Securities. Your line is open.
Gabriel Leung
Good afternoon and thanks for taking my questions. Just a couple of things. First, just wondering if you guys can provide us with a glimpse of what your pipeline currently looks like on the EHS side as it relates to sort of the composition of the potential customers that you're talking to, are they, do you have any more potential customers sort of the quantum of the Sun Life, number one and number two is what product are you finding that you're leading in with most of these potential prospects is that the mental health coaching is that the rehab assessments some of the more traditional EAP stuff, Just curious of your thoughts there?
Essam Hamza
Yeah. Thanks, Gabriel. Great question. I'm not sure if we could to be able to give you the full answer, but I'll hand it over to Karen talk a little bit about the pipeline.
Karen Adams
So we have a robust pipeline. I'm very confident with the pipeline as being able to sustain our organic growth. The pipeline has many facets to a distribution partners and has direct to organizations. I would say for the Mental Health coach, our relationship is with Sun Life and delivering that product through a distribution insurance relationship at this time. We have insurance relationships with all of the insurers for a variety of our products, including disability, assessment businesses. We have a couple of clients in the United States – prospects from the United States who are inquiring around the mental health coach, which would be distribution partners that we are currently engaged in talking to.
So, this is all net new for us as you can imagine going out in the marketplace with this product and because the product the Mental Health Coach is a North American product and has been translated into spanish is quite high adoption rate is quite easy for us in the United States.
We feel really confident that we have the right balance between direct to organizations, insurance, partnerships, and then we call our distribution partnerships are also our brokers and advisors who sell our products on our behalf to the clients that they represent and it's important of that balance because you want to have the relationship with all three in order to create a balanced portfolio. So, we monitor our pipeline, and we measure it on a monthly and quarterly basis with the sales team to ensure that the weighted averages aligned to our sales activities and so far, we're very confident with the sales operations of the way the pipeline flows right now matches to our sales forecast. We're very close every month and every quarter to our sales, which is all based on our pipeline.
Gabriel Leung
Got it. Thanks for answered my question.
Karen Adams
Did I answer your question?
Gabriel Leung
Yeah. Now, that's super helpful. Thank you. And we spend a lot of time in talking about EHS, but can you just spend a minute just talking about some of the key growth initiatives you guys focused on within digital health and perhaps even clinics and pharmacies as well. What do you see as the biggest opportunities, I guess within those two other segments?
Essam Hamza
Yeah, another a great question. So maybe I'll start with clinics and pharmacies. I mean, it's not our main focus, obviously to go and acquire a large network of clinics it typically is low margin type of business. We have to be careful on managing that, but I think what's important about the clinics and pharmacies is that there's incredible amount of patients and providers on that network, but we also own the technology aspects of it in the EHS with the EMR and so we can test everything within the clinics.
And so, for instance now with regards to the MindBeacon acquisition. We're looking forward to integrate that solution right into our EMR into the providers, if seeing the patients in the clinic or online being able to refer to that iCBT program and have that patient go through the dashboard or the mental health coach even on top of it. So the integration between the three divisions, I think is really kind of integral with the EHS, I think Dan mentioned some of the, actually I think it is Karen, sorry, mentioned some of the sales that we're seeing even outside of our own products that we're offering.
So this platform that we talked about this interoperability the RTIP platform has so much potential because one of the big drawbacks in healthcare is the lack of the ability to share information in real time and offer good outcomes data and so that really translates well right outside like right across healthcare and so when she mentions the opioid crisis, that's a big deal and for instance, what happens is that if a patient is seeing a doctor in one clinic, that provider can check in real time to make sure that patient didn't get an over year prescription from a clinic across the street or across the lines or across the country and that is something incredibly important as we start fighting the opioid addiction and a lot of the issues that we're seeing because of this use of these products. So there's a lot of opportunities there.
So, with regards to EHS, you're right, that is definitely our fastest growing division, but I think we've kind of made it clear that all our divisions work together as well. We have the ability to use the resources from each of the others to support the other one and so that is kind of an important strategy that we use internally.
Gabriel Leung
Got it. Thanks for that. And so just one last thing for Dan, just a point of clarification. Dan, just say organic revenue growth in the quarter was, it was ten percent in the quarter?
Daniel Lee
Yes, so it was eleven percent year-over-year.
Gabriel Leung
Got it. Okay. That’s helpful. Perfect. Thanks a lot for your time guys.
Essam Hamza
Thank you.
Operator
Thank you. Ladies and gentlemen, this does conclude today's conference. Thank you all for participating. You may now disconnect. Have a great day.
CloudMD Reports Solid Performance with Third Quarter 2021 Financial Results; Record Revenue of $39.2M and First Quarter with Positive Adjusted EBITDA.
source
https://finance.yahoo.com/news/cloudmd-reports-solid-performance-third-214300123.html
Mon, November 29, 2021, 10:43 PM
- Q3 2021 is the first quarter that fully recognizes the financial results from all previously announced and closed acquisitions.
- Record Q3 2021 revenue of $39.2 million; an increase of 150% compared to Q2 2021 and an increase of 1066% compared to Q3 2020.
- First quarter with positive Adjusted EBITDA of $0.8 million compared to a loss of $0.7 million in Q2 2021 and a loss of $1.3 million in Q3 2020.
- Increased annualized revenue run rate to over $185 million demonstrating strategic capital allocation and strong organic growth.
- Increased engagement on the Comprehensive Integrated Health Platform; added an additional 300,000 employees and family members, resulting in a total of 560,000 individuals.
- Positive client outcomes with Net Promoter Score of 80, 98% satisfaction rate and 164 new clients added in the quarter.
Program with Sun Life delivered proven data-driven individual health outcomes including:
- 89% of those experiencing depression and 91% of those experiencing anxiety noticed ‘major improvements’.
- 82% said they would recommend the service based on their own experience.
- 46% increase in plan members utilizing their mental health benefits for the first time.
CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH), a healthcare technology company revolutionizing the delivery of care, announced its financial results for the third quarter ended September 30, 2021. All financial information is presented in Canadian dollars unless otherwise indicated.
“This was a milestone quarter for CloudMD as it’s the first quarter we recognized full revenue contributions from all the recently closed acquisitions and clearly demonstrated that our whole-person, patient-centric approach to healthcare is working. We’ve onboarded 560,000 individuals onto our Comprehensive Integrated Health Platform and are providing valuable data-driven outcomes, which is proven by our successful program with Sun Life where 89% of those experiencing depression and 91% of those experiencing anxiety noticed major improvements. We’ve also achieved positive client outcomes across engagement, attachment rate, and net promoter scores,” said Dr. Essam Hamza, CEO of CloudMD. “I am extremely proud of the Company’s progress and the team’s ability to execute on our growth strategy across all divisions, which is evident by new clients wins, rapid growth and improved profitability. Our unique, proprietary healthcare offering is an industry first, and I’m confident that we will be able to continue our North American and global expansion.”
Third Quarter 2021 Financial Highlights
- Q3 2021 revenue was $39.2 million, compared to $15.7 million in Q2 2021 and $3.4 million in Q3 2020. The increase is primarily attributable to acquisition growth with 4 acquisitions completed in the preceding quarter, and 14 acquisitions completed in the last 12 months.
- Q3 2021 gross margin was 34.0%, compared to 35.5% in Q2 2021 and 37.5% in Q3 2020. The decrease is due to revenue mix where the Company’s patient support programs and online eyewear platform, currently lower-margin businesses, represented 32% of revenues for the current quarter. The Company expects its gross margin to increase due to ongoing efforts to integrate its acquisitions and increase its operational efficiency.
- Net comprehensive loss attributable to equity holders of the Company in Q3 2021 was $4.2 million or $0.02 per share, compared to $6.2 million or $0.03 per share in Q2 2021 and $2.7 million or $0.02 per share in Q3 2020.
- Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization was $0.8 million in Q3 2021, compared to a loss of $0.7 million in Q2 2021 and a loss of $1.3 million in Q3 2020.
- Cash and cash equivalents were $53.7 million as at September 30, 2021, compared to $60.9 million at June 30, 2021 and $59.7 million at December 31, 2020. The decrease for the period was primarily attributable to payments related to the acquisitions completed near the end of June 2021, which will not reoccur in the future.
Third Quarter & Subsequent Corporate Highlights
- On September 14, 2021, the Company announced a partnership with 19 new post-secondary institutions across Canada to provide its Aspiria Student Assistance Program and multi-layered mental health resources to over 167,000 additional students.
- On September 28, 2021, the Company announced the appointment of KPMG LLP as the Company’s independent auditors to hold office until the end of the next annual general meeting of shareholders.
- On October 5, 2021, the Company announced the appointment of Angel Paravicini as Senior Vice President of Business Development and Customer Success to drive expansion in the United States and globally.
- On October 27, 2021, the Company announced that through one of its subsidiaries, it has received U.S. Patent Approval for its Real Time Intervention Platform (“RTIP”) which is the technology backbone for CloudMD’s comprehensive healthcare platform that addresses all points of a patients care from one, connected platform.
- On November 9, 2021, the Company announced the appointment of Duncan Hannay and Karen Adams to the Board of Directors of CloudMD.
- On November 15, 2021, the Company announced it had entered into a definitive agreement with MindBeacon Holdings Inc. pursuant to which CloudMD agreed to acquire all of MindBeacon’s issued and outstanding common shares for cash and shares of the Company. Under the terms of the Arrangement Agreement, each common share of MindBeacon will be exchanged for $1.22 cash and 2.285 common shares of CloudMD. Closing of the transaction is subject to a number of customary closing conditions, including approval by at least two-thirds of the votes cast at a special meeting of MindBeacon’s shareholders, as well as court and regulatory approval. The MindBeacon shareholder meeting is expected to be held on or about January 10, 2022 and, subject to the satisfaction or waiver of the other closing conditions, closing is expected to occur shortly thereafter, on or about January 14, 2022.
- On November 29, 2021, the Company announced it has partnered with Sun Life to expand the seven month pilot program and start rolling out its Mental Health Coach as part of Sun Life’s Group Benefits offering.
Findings from the pilot include:
- (1) 89% of those experiencing depression and 91% of those experiencing anxiety noticed ‘major improvements’;
- (2) 82% said they would recommend the service based on their own experience; and,
- (3) 46% increase in plan members utilizing their mental health benefits for the first time.
Outlook
CloudMD is creating innovation in the delivery of healthcare services, by leveraging technology to improve access to care leading to better health outcomes. Through its team-based, patient-centric approach, CloudMD provides one, connected platform for patients, healthcare practitioners, and enterprise clients to address whole-person, coordinated care. The Company has a multi-pronged growth strategy which focuses on organic growth, accretive mergers and acquisitions and leveraging assets across all divisions.
The Company’s long term growth will be largely driven by:
- (1) continuing to integrate all its proprietary health technology solutions into its ecosystem, including the recently announced proposed acquisition of MindBeacon;
- (2) realizing cost savings and cross-selling opportunities to new and existing customers across CloudMD;
- (3) winning new customers with its unique healthcare offering and providing meaningful data driven outcomes; and
- (4) continuing to execute on its defined expansion strategy across North America and Globally.
CloudMD has proven out its integration strategy and by leveraging its proprietary technology, has successfully integrated all its recent acquisitions into one connected platform. In respect of the recently announced proposed acquisition of MindBeacon, CloudMD has already identified cost savings of approximately $2 million and cross-sell synergies and has started to plan the integration of MindBeacon’s synergistic healthcare solutions into its mental health services offerings.In addition, the Company believes there are an additional $2 million in potential synergies available over time through the integration of MindBeacon and its other acquisitions.
CloudMD’s proprietary Comprehensive Integrated Health Platform continues to see impressive adoption rates within the Enterprise Health Solutions division, and the Company has onboarded 560,000 employees and family members on the platform who are receiving individualized care. CloudMD has achieved positive client outcomes including a Net Promoter Score of 80, 98% satisfaction rate and 164 new clients added in the third quarter.
CloudMD continues to win new clients and customers including Sun Life and other large organizations in retail, transportation, and financial sectors with its industry-leading approach that delivers important outcomes that measure the patient success and engagement of its connected platform.
The technology that underpins the platform is scalable and the Company will continue looking at opportunities to expand its unique offering to clients across North America and globally. CloudMD has built an experienced sales team, and with the recent addition of Angel Paravicini, expects to drive sales and business development to open new distribution channels and attract new clients in the United States.
Upon close of the proposed acquisition of MindBeacon, CloudMD will have a strong balance sheet with over $60 million in cash and cash equivalents. The Company will continue to deploy capital towards a robust pipeline of accretive, synergistic acquisitions, focused on products, capabilities, clinical specialties, and technologies that are highly scalable and rapidly growing.
CloudMD will continue to focus on delivering meaningful shareholder value by executing on its growth strategy through the continued integration of its comprehensive healthcare offering, winning new business and clients with its unique, Comprehensive Integrated Health Platform, expansion of its scalable product across new geographies including the United States, and strategic capital allocation to drive its rapid growth.
Selected Financial Information
All results were prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board.
See the tables at:
https://finance.yahoo.com/news/cloudmd-reports-solid-performance-third-214300123.html
Third Quarter 2021 Earnings Conference Call
CloudMD invites all interested parties to join the conference call or webinar:
CloudMD Q3 2021 Earnings Call
Date: Today, November 29, 2021
Time: 2:00 pm PT / 5:00 pm ET
Toll-Free Dial-In Number: (833) 562-0117
International Dial-In Number: (661) 567-1009
Conference ID: 1743143
Webcast Link:
https://edge.media-server.com/mmc/p/nsy2gzh9
Financial Statements and Management’s Discussion and Analysis.
This news release should be read in conjunction with the Company’s condensed interim consolidated financial statements and related notes, and management’s discussion and analysis (“MD&A”) for the three and nine months ended September 30, 2021, and 2020, copies of which can be found under the Company’s profile at:
https://www.sedar.com/
Non-GAAP Financial Measures
In addition to the results reported in accordance with IFRS, the Company uses various non-GAAP financial measures, which are not recognized under IFRS, as supplemental indicators of the Company’s operating performance and financial position. These non-GAAP financial measures are provided to enhance the user’s understanding of the Company’s historical and current financial performance and its prospects for the future. Management believes that these measures provide useful information in that they exclude amounts that are not indicative of the Company’s core operating results and ongoing operations and provide a more consistent basis for comparison between quarters and years. Details of such non-GAAP financial measures and how they are derived are provided below as well as in conjunction with the discussion of the financial information reported.
Since non-GAAP financial measures do not have any standardized meanings prescribed by IFRS, other companies may calculate these non-IFRS measures differently and our non-GAAP financial measures may not be comparable to similar titled measures of other companies. Accordingly, investors are cautioned not to place undue reliance on them and are also urged to read all IFRS accounting disclosures presented in the condensed interim consolidated financial statements and the related notes for the three and nine months ended September 30, 2021, and 2020.
EBITDA
EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. EBITDA referenced herein relates to earnings before interest, taxes, depreciation and amortization. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the cash operating income (loss) of the business. Please refer to the “Overall Performance and Discussion of Operations – EBITDA and Adjusted EBITDA” section of the MD&A for a detailed reconciliation.
Adjusted EBITDA
Adjusted EBITDA is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Adjusted EBITDA referenced herein relates to earnings before interest; taxes; depreciation; amortization; share-based compensation; financing-related costs; acquisition-related and integration costs, net; litigation costs and loss provision; change in fair value of contingent consideration; and loss from discontinued operations. This measure does not have a comparable IFRS measure and is used by the Company to evaluate its cash operating income (loss) of the business, adjusted for factors that are unusual in nature or factors that are not indicative of the operating performance of the Company. Please refer to the “Overall Performance and Discussion of Operations – EBITDA and Adjusted EBITDA” section of the MD&A for a detailed reconciliation.
Gross Profit
Gross Profit is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Gross Profit referenced herein relates to revenues less cost sales. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the operating performance of the business.
Gross Margin
Gross Margin is a non-GAAP financial measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Gross Margin referenced herein is defined as gross profit as a percent of total revenue. This measure does not have a comparable IFRS measure and is used by the Company to manage and evaluate the operating performance of the business.
About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, healthcare navigation, educational resources and artificial intelligence (AI). CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.
CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 million individuals across North America.
For more information visit:
https://investors.cloudmd.ca/
ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer
FOR ADDITIONAL INFORMATION, CONTACT:
Julia Becker
VP, Investor Relations
julia@cloudmd.ca
(604) 785-0850
Sun Life Partners with CloudMD to Expand Mental Health Coach To All Group Benefits Clients.
source
https://finance.yahoo.com/news/sun-life-partners-cloudmd-expand-123500937.html
Mon, November 29, 2021, 1:35 PM
Industry-first personalized service focuses on prevention and data analytics to keep Canadians healthy.
The need to support Canadians and their mental health has never been greater. To help more people access care, Sun Life is expanding its partnership with CloudMD, the creators of Mental Health Coach. Following a successful seven-month pilot program, Sun Life will begin rolling out Mental Health Coach as part of its Group Benefits offering.
Despite many Canadians experiencing mental health issues, a Sun Life study found over half are not seeking medical care. Cost, access, and feelings of embarrassment are the top barriers to blame. Sun Life and CloudMD are bridging the gap with Mental Health Coach. The service uses data analytics to identify Clients who are at risk of developing a mental health issue. It then proactively reaches out to guide Clients to the right resources and support.
“As the largest provider of group benefits in Canada, we know that tackling the mental health crisis requires dedication and a customized approach. Each person experiences mental health in their own way – no two journeys are the same,” said Dave Jones, President, Sun Life Health. “We’re committed to providing Canadians with innovative and personalized mental health tools to help them wherever they are in their journey. Mental Health Coach is one way we’re helping our Clients live a healthier life.”
A personalized and preventative approach to mental health.
A Mental Health Coach team member meets virtually or by phone with the plan member. They walk the plan member through a mental health assessment and create a personalized plan based on the benefits available to them. The Mental Health Coach service monitors the plan members’ progress and provides regular check-ins. They offer feedback and encouragement and can re-assess the plan member at any point in their journey.
During the pilot, Sun Life worked closely with CloudMD to test and refine the Mental Health Coach service.
Findings from the Mental Health Coach pilot include:
- 89% of those experiencing depression and 91% of those experiencing anxiety noticed ‘major improvements’.
- 73% said they have a better understanding of their benefits.
- 82% said they would recommend the service based on their own experience.
- 46% increase in plan members utilizing their mental health benefits for the first time.
“We know that prevention is key when it comes to managing disability claims and connecting plan members with the care they need,” said Karen Adams, President, CloudMD. “The Mental Health Coach provides convenient and effective access to treatment. It can help with many mental health issues before they become severe, which can often lead to people going on disability.”
Select Sun Life Group Benefits Clients will be able to access the Mental Health Coach service as part of their integrated benefits offering. The service will be rolled out and offered across plans throughout 2022.
About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2021, Sun Life had total assets under management of $1.39 trillion.
For more information please visit:
https://www.sunlife.com/en/
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
About CloudMD Software & Services
CloudMD (TSXV:DOC) is transforming the delivery of healthcare using technology and by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, healthcare navigation, educational resources, and artificial intelligence (AI). CloudMD’s Enterprise Health Solutions Division includes the leading Student Assistance Program and one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for educational institutions, corporations, insurers, and advisors to better manage the health and wellness of their students, employees, and customers.
CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 million individuals across North America.
For more information please visit:
https://investors.cloudmd.ca/
ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer
FOR ADDITIONAL INFORMATION, CONTACT:
Julia Becker
VP, Investor Relations
julia@cloudmd.ca
(604) 785-0850
Gannon Loftus
Director, Corporate Communications
T. 647.228.8244
gannon.loftus@sunlife.com
Teneo Connector: Vonage – Interactive Voice Response and SMS.
source
https://www.artificial-solutions.com/blog/teneo-connector-vonage-interactive-voice-response-and-sms
November 25, 2021
Earlier this year, one of the largest insurance sales agency in America connected Teneo CAI
https://www.artificial-solutions.com/teneo
with Vonage
https://www.vonage.com/
to automate part of its enrollment process. The insurance broker, which helps consumers shop for Medicare plans by providing unbiased price comparisons from some of the most trusted insurance carriers: Kaiser Permanente, Aetna, Cigna, Humana, Anthem, etc., was looking to better serve its clients and allow enrollers to provide support more effectively.
Users are now able to begin their Medicare onboarding journey by speaking with an insurance agent to identify what plans they are eligible for and what product best fit their needs. Upon verification of enrollment details, they are transferred to the Teneo assistant, which finalizes the enrollment process.
Within a few weeks, the Teneo CAI platform,
https://www.artificial-solutions.com/teneo/teneo-studio
which is fully integrated with Vonage’s programmable communications API (via the SMS and IVR connectors), was able to support complex contact center architecture, while taking over conversational portions of the enrollment process that would take agents up to 10 minutes to complete otherwise.
The new Teneo Vonage Voice Connector
https://developers.artificial-solutions.com/resources/channels/vonage-voice-connector
helps establish a seamless phone handover between the agents and the voice assistant, which finishes the enrollment process with customers.
Here’s how:
Vonage provides a robust voice API that is well documented and easy to set up, and that was already directly integrated into Teneo. This integration was instrumental to the rapid development and early rollover of the application, since it is responsible for starting the conversation between the user and the voice assistant.
Once the user is transferred to the assistant, the audio is streamed to a Speech Service (provided by Vonage) that instantly transforms the audio into text, before feeding it into Teneo.
At this point, Teneo takes the user input and sends back the appropriate response, which in turn goes through the same Vonage Speech Service integration, this time to transform the text into speech.
Finally, the Speech Service connector tells Vonage to stream the audio back to the phone call and to the user.
To understand how your contact center would benefit from a Conversational AI solution, contact our team here.
https://www.artificial-solutions.com/contact
Global giants have deployed the concept of meta-universe to heat up, and it will be the "polar paradise" of mankind in the future.
source
https://min.news/en/tech/4ef72839209b283d0a5e51dff894653c.html
2021-11-25 14:34 HKT
The rise of the Internet has changed people's daily life. The rapid development of the mobile Internet has brought us a variety of disruptive experiences.
Before the rapid development of smart phones and mobile Internet, most people could not imagine that a mobile phone could realize countless functions and bring unprecedented experience.
If you can go back to ten years ago, you can't imagine that it will be like this ten years later. People's dependence on smart phones and the Internet is incredible. Standing at the current point in time, let us think of the world ten years from now. What kind of thoughts will you have?
https://p1-tt.byteimg.com/origin/pgc-image/f9f33728ccc442398fdc131e12d78d38.jpg
In recent years, a variety of creative products have been born, and some cross-age concepts have begun to subvert people's traditional cognitive level.
With the accelerated research and development of unmanned driving technology, and gradually put it into the scene application, this in the past time, we can not imagine. Perhaps, in the next ten years, you will see that driverless technology will gradually become popular in people's daily life, and even the L4 or L5 stage of driverless driving will be realized in a real sense. At that time, it will really be fully automatic. The driving experience.
Now there is a new next-generation Internet "meta-universe", which now sounds like a science fiction and dreamy thing, and it feels far away from us. In the next ten years, you may create all kinds of "impossibility" with the help of metaverse, which is also an important force for technological change!
What is the meta universe?
Perhaps, for now, there is no consensus in the world, but when the concept of meta universe has not yet reached a consensus, the world's major giants have begun to accelerate the deployment of meta universe. Among them, Facebook also deliberately changed the company's name to "Meta" to speed up hooking up with Meta Universe. Not only Facebook (Meta), but Google, Apple, and domestic Tencent, NetEase, ByteDance, WiMi Hologram, and SNAP are all adding to the layout.
Then why is this concept 30 years ago renewed today? "Occasionally and inevitable." The present is a delicate node. The underlying computing power, network bandwidth, AI and other infrastructures are in a stage of rapid development. The Internet and mobile Internet traffic growth has peaked, and the game iteration has reached a bottleneck, but user needs are more complicated. , The ultimate experience.
In the words of Zhu Jiaming, Chairman of the Academic and Technical Committee of the Digital Asset Research Institute: “Behind it is the “clustering effect” of the relevant “meta universe” elements, which is similar to the clustering effect experienced by the Internet in 1995.” In his view, Yuan The universe provides a new path for the ultimate digital transformation of human society. It is a "new era with the same historical significance as the era of great navigation, the era of industrial revolution, and the era of aerospace."
1. Meta (Facebook) (FB.US)
Meta (Facebook) was born in February 2004. It is the world's largest social platform with the largest number of users. It owns multiple social products such as Instagram and WhatsApp. As of 3Q21, the total number of monthly active activities under Facebook's products was 3.58 billion, accounting for 4.80 billion worldwide. 74.6% of Internet users. Since 2014, the company has begun to deploy the meta universe through the acquisition of a VR equipment company.
In 2021, the company officially transformed into Meta Universe Company, renamed Meta, focusing on the ecological construction of Meta Universe, and opening a new stage of development. Hardware-side expansion tries MR (augmented reality), and the application-side scene has been expanded to eight scenes including home, office, and fitness (including NFT transactions) from the previous social & gaming. The company hopes to allow 1 billion users to join Metaverse within the next ten years to jointly develop the next generation of the Internet. In 2022, the new Oculus Quest 2 will be renamed Meta Qquest 2.
2. Apple (AAPL.US)
Apple will become another key player in the meta-universe on different levels. First of all, the company is developing AR glasses, which are expected to replace the iPhone and completely subvert our current use of smart phones. Therefore, Apple will become the main hardware supplier of Metaverse, just like the current web2.0. However, Apple will also have important software because it has developed the Apple AR Suite, which is an augmented reality application creation tool that allows companies and developers from all over the world to create their own AR applications.
3. Nvidia (NVDA.US)
Nvidia is a supplier of graphics chips, AI chips, and data center chips. Relying on customized software platforms, development tools, and application tools, Nvidia has built a "strong, robust and self-sufficient" composed of software, universities, startups and partners. Ecosystem" (Forbes evaluation).
In a recent virtual keynote speech, Nvidia founder and CEO Huang Renxun announced a series of latest AI technologies and products, and launched a new virtual avatar platform carrying his "meta universe" vision. The "mini toy version of Huang Renxun" Toy-Me generated by this platform can naturally ask questions and communicate with people.
Huang Renxun also announced that NVIDIA will build a digital twin model to simulate and predict climate change. The new supercomputer will be called E-2, which is Earth Two, the digital twin of the earth, which can use Million-X in the virtual world simulation engine Omniverse. It runs at a million times speed. Created its own Omniverse platform, connecting the 3D world to the shared virtual world. Omniverse, which is used to simulate real-world buildings and factories, is a "pipeline" that can build a meta-universe.
4. Vuzix (VUZI.US)
Vuzix is ??a developer of augmented reality devices, such as glasses and headsets for businesses and professionals. The company focuses on B2B, targeting multiple applications of augmented reality, such as telemedicine, warehousing logistics, and manufacturing. Vuzix is ??still in the growth stage and has not yet achieved profitability, but its technology and patents are undoubtedly hopeful for the future.
5. Wimi Hologram (WIMI.US)
Established in 2015, WiMi Hologram focuses on computer vision holographic cloud services. It is one of the most outstanding holographic cloud industry integrated entities in China in terms of scale, coverage, and performance. The goal is to become a holographic cloud with potential and international influence. platform.
In the second half of this year, WiMi Hologram even established the Meta Universe Division, dedicated to the development of Meta Universe technology. Recently, an application for the "WIMI metaverse" trademark has been submitted to the Trademark Office, indicating that the "WiMi Metaverse" trademark will be used to generate commercial value in metaverse commercial applications, further improve the intellectual property protection system, maintain technological leadership, and enhance the company's core Competitiveness.
6. Microsoft (MSFT.US)
Microsoft's annual technology event Ignite 2021 opened online. Microsoft CEO Satya Nadella said at the Ignite online conference that Microsoft will explore meta-universe technology and join this digital world with a series of other big-name brands and enterprises.
As one of the largest listed companies in the world, Microsoft no longer needs to introduce too much in the market. Microsoft's influence in the field of augmented reality and virtual reality is not as intermediary as it should be. In fact, Microsoft is the manufacturer of HoloLens. HoloLens is a hardware device that has been widely used in various fields, mainly for professional use. HoloLens glasses provide a precise and immersive experience, helping any worker in their environment.
7. Snap Inc. (SNAP.US)
Snap is a natural leader in the field of augmented reality, and its Snap AR Lens Studio can help users create augmented reality experiences. So far, about 2 million AR experiences have been created and viewed 2 trillion times. Snap is clearly the primary owner of a social application called SnapChat, which has more than 300 million daily active users.
At present, we have not seen the specific application scenarios of the meta universe, nor the commercial operation mode of the meta universe, and even the concept of meta universe has not yet formed a real consensus in the world, but this is not Hinder the active exploration of global giants.
Human beings have become great because of their dreams. Now they seem to be imaginary things, but through continuous human associations, they may eventually become a subversive and creative thing.
Global giants have deployed Meta Universe one after another. In the future, there is a high probability that they will continue to increase R&D investment in the exploration process of Meta Universe, and hope that one day they will become a new profit growth point for the company and a breakthrough for the company's business.
WiMi Hologram makes a comprehensive layout of the meta-universe, focusing on hardware and ecology.
source
https://inf.news/en/tech/1005e74fcbcd3e75170d6cc05ed205bc.html
2021-11-25 14:20 HKT
Following the emergence of the mobile Internet, the next technology revolution that will detonate the world is Meta Universe. Long before CEO Mark Zuckerberg announced that Facebook was renamed Meta, some of the world's largest and most innovative technology companies had already seen that Metaverse was the next big thing. When the iPhone was invented by Apple in 2007, it started a movement that brought most of the world to the Internet. Or more specifically, it brought the Internet to most parts of the world.
Today, only 14 years later, the rise of large centralized social media companies and technology giants such as Facebook, Twitter, Google, WiMi Hologram, Tencent, Apple, and Microsoft, as well as the rapid adoption of cryptocurrencies and the emergence of decentralized technologies Web 3.0 The network has created a perfect storm of many meta-universes that may be connected together. All signs indicate that the meta-universe will actually lead the next global transformation.
As a new outlet, the meta universe was not born out of nowhere. Back in 1992, the concept of meta universe was first proposed. The famous American science fiction master Neil Stephenson described the metaverse in his novel "Avalanche": space."
Facing the air outlet of the meta-universe, it is necessary to focus on the hardware and ecology. The meta-universe is the digital twin of the real world. The production methods, exchange methods, social structures and cultural values ??of the real world can all be copied into the virtual world. Therefore, the space-time dynamics mechanism of the metaverse is closely connected with the real world, and the metaverse constructs a fully-covered virtual reality system that organically integrates the Internet, hardware terminals, and users. It will realize the upgrade of gaming, social networking, entertainment, office and other behavioral methods, and the software foundation and software required for new applications such as C-end cloud technology, blockchain technology, display system, high-bandwidth Internet, VR/AR/MR, brain-computer interface, etc. The hardware foundation is in a period of rapid development.
At this time when the limelight is booming, WIMI.US, the first stock of "Metacosmic holographic AR" listed on NASDAQ, is also actively exploring and deploying the metacosmic ecology, through multi-dimensional technology research and development. Create a brand-new and huge holographic ecosystem. Not long ago, the "holographic meta-universe business department" was formally established, which triggered people's heated discussion and infinite reveries about the meta-universe. On October 29, the company announced that it had submitted a trademark application for "WIMI Metaverse" to enter Metaverse with a new trademark, which indicated that the company would be committed to developing its own powerful Metaverse, and also heralded the potential for Metaverse to bring long-term beyond imagination. And opportunity has absolute confidence.
On the hardware side of Meta Universe, WiMi Hologram recently released a new augmented reality (AR) head-mounted display (HMD) for the consumer market-"WiMi HoloAR lens" to further strengthen the software and hardware research and development of the underlying holographic technology , To expand the user experience of holographic AR technology in Metaverse.
Southwest Securities believes that the virtual industry is produced and cultivated based on the needs of business and culture. It has now entered a development period. As the industrial chain becomes more mature and the idol culture becomes more and more popular, its potential commercial value is expected to be further revealed; in addition, it is accelerating the change in the times. In the context of hotspots, virtual idols have the potential to attract different audiences and obtain traffic. With the gradual maturity of upstream technologies and the continuous expansion of downstream commercial monetization channels, the future imagination space is worth looking forward to.
The meta-universe is forming its unique structure, moving towards ablation from the aspects of experience, discovery, creator economy, spatial computing, decentralization, human-computer interaction, and infrastructure. In line with the new round of scientific and technological revolution and industrial revolution, the digital economy is developing rapidly and is becoming an important engine for the construction of a modern economic system. It will continue to explore the order structure, value orientation, and institutional models of the meta universe, and consider the economic operation rules of the meta universe. Come to a huge market space.
The wind will eventually pass, but the determination and courage of mankind to continuously search for the unknown, and the unremitting pursuit and efforts for a better life will never stop. In the meta-universe world where the unknown and the expectation coexist, in the wave of times that is constantly changing, evolving, and moving forward, perhaps we need to maintain a little constant persistence, let business return to the essence, and let innovation pay more attention to the practical needs of human life. Perhaps we can see the promised land of digitalization at the next corner of technological progress.
AR/VR will drive the development of the education sector.
source
https://inf.news/en/tech/cb7871148755552e99d13f4018b3eba6.html
2021-11-23 19:34 HKT
Technology empowers education, technological change and innovation. AR\VR education has undergone unprecedented changes. The integration of 5G networks with virtual reality, artificial intelligence, and big data technologies has spawned VR/AR virtual learning resources, holographic interactive teaching resources, VR/AR education popular science applications, and multi-dimensional integration. New educational resources such as personalized customized resources. This allows the development of AR\VR to undertake the task of advancing the development of education, implement science and education to rejuvenate the country, regard science and technology as the primary productive force, promote the development of education, and improve the scientific, technological and cultural quality of the whole nation. Shenzhen Painuo Vision Technology Co., Ltd. focuses on the VR/AR education industry, hoping to empower education with technology and help the development and reform of education.
Shenzhen Painuo Chuangshi Technology Co., Ltd. (Kooyu VR) was established in 2016. It focuses on the VR/AR education industry. It is the first technology-based company in China to launch the AR/VR industrialization training + safety training education curriculum system. company. The company has unique technical support in the field of security monitoring, and has a number of national invention patents, utility model patents and software copyrights. At present, the company's "5G+VR/AR+ safety education training course system" platform program has been implemented in many universities and regions, including Shenzhen Fire Brigade, Shenzhen Vocational and Technical College, Shenzhen Public Security Bureau, Shenzhen Traffic Police Brigade, Shenzhen Longhua Foxconn, Guangxi Public Security Branches and other colleges and institutions.
The company's business form caters to the requirements of education in the Internet era, and uses VR/AR technology to allow them to perfectly integrate with education. With high-performance technological interactive experience, the traditional two-dimensional (2D) learning content has been upgraded from the picture to the three-dimensional ( 3D) The scene, which visually displays the abstract and micro world, helps learners' cognition and understanding. Realize the integration of education and teaching content to generate holographic interactive teaching. It is reported that Shenzhen Panovision Technology Co., Ltd. was awarded the title of MR industry application innovation unit by the Holographic Science Innovation Center under WIMI (Nasdaq: WIMI) this month. The two parties will have a closer relationship in MR industry application innovation. Cooperation.
According to the market research organization GlobalData released the latest VR market forecast report, the report said that by 2030, the VR market will grow to 51 billion U.S. dollars. Despite the upside growth of the VR market size, GlobalData also acknowledges that the current VR market size is far below this level, and the global VR market size in 2020 will be around US$5 billion. They predict that the enterprise market will surpass the consumer market in the next three years and become the main market for VR.
Among them, VR/AR education has huge market potential, and AR/VR education has a vast market globally. Although the current AR/VR education market is still in the growth stage, the domestic education market is huge, and there is a strong demand for the use of new technologies to continuously improve the quality of education. From K12 education to higher education, vocational education, and even corporate employee training, VR technology is applicable to create a virtual simulation experimental teaching system. It can also enable VR/AR to build a virtual learning environment, such as a simulation nursing training room, which presents abstract and difficult-to-understand knowledge in an image, vivid, and intuitive form. It is difficult for nurses to see with their own eyes how the blood vessels of the human body are. How to choose the right place for injection, but these can be presented in the VR/AR virtual simulation nursing training platform to help nurses immersively "experience" knowledge, understand and learn to standardize and correct nursing operations without Then there is boring rote memorization. In such an immersive classroom, multi-channel projection is used to enhance the interactive fun, to bring high-performance technological interaction and learning memory and experience to children, and to show children the profound and simple knowledge in an intuitive way, making them more profound and straightforward. Understand the information brought.
With the gradual maturity of AR/VR technology and the continuous development of the market, AR/VR education will be used as a brand-new education and teaching model to update existing education methods. To make education more intuitive and efficient, virtual schools and virtual classrooms will also become a reality. In the future, AR/VR will drive the development of the education industry.
It is understood that the investment company's WiMi Hologram is the “Meta Universe Holographic AR First Share” listed on Nasdaq last year. Daiguang field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation, meta-universe holographic AR/VR equipment, meta-universe holographic cloud software and other professional fields, covering from holographic vehicle AR technology, 3D holographic pulse LiDAR technology, holographic vision semiconductor Technology, holographic software development, holographic AR virtual advertising technology, holographic AR virtual entertainment technology, holographic ARSDK payment, interactive holographic virtual communication, meta-universe holographic AR technology, meta-universe virtual cloud service and other holographic AR technology, is a holographic Cloud integrated technology solution provider.
At present, WiMi Hologram has made major breakthroughs and leaps and bounds in the research and expansion of AI, AR, VR, big data, and 5G technology, in order to break the limitations of distance and space, and bring users a scene full of futuristic experience, and Committed to building a highly expandable and open service platform, building a bridge between holographic technology application and holographic computer vision presentation, realizing the application and presentation of holographic computer vision in different scenarios, and promoting the leapfrog development of the industry.
In the future, WiMi Hologram will work with Parovision Technology Co., Ltd. to help promote the development and innovation of education. With the help of 5G+VR/AR, the integration of education and teaching content will promote the coordinated development of the two parties' businesses and achieve a win-win situation.
Zhuyou Intelligent Manufacturing Technology (00726.HK): Glodon has completed its shareholding of HK$288 million.
source
https://cj.sina.com.cn/articles/view/5115326071/130e5ae7702001irt6
November 21, 2021 13:22 Gelonghui APP
On November 19, Zhuyou Group's listed sector-Zhuyou Intelligent Manufacturing Technology Group Co., Ltd. issued an announcement, announcing that it will cooperate with Glodon (Hong Kong) Software Co., Ltd. on August 20 all the conditions of the subscription agreement have been fulfilled, the subscription has been completed on November 19, 2021 in accordance with the terms of the subscription agreement, and the total subscription of 300 million shares has been completed in accordance with the terms and conditions of the subscription agreement. Conditions are issued and distributed to subscribers at the subscription price.
The announcement shows that after the completion of the subscription, Glodon holds 9.67% of Zhuyou Zhizao Technology's shares, and officially becomes the second largest shareholder of Zhuyou Zhizao Technology.
On August 24, Hu Baosen, the controlling shareholder of Zhuyou Zhizao Technology and Chairman of Jianye Group, delivered a speech at the press conference.
On August 24, Diao Zhizhong, Chairman of Glodon Technology Co., Ltd., delivered a speech at the press conference
On August 24, Zhuyou Zhizao Technology and Glodon Technology held a strategic cooperation press conference to disclose the content of their respective listed companies' announcements about Glodon’s shareholding in Zhuyou Zhizao Technology, and introduced the relevant details of the strategic cooperation. Hu Baosen, the controlling shareholder of Zhuyou Zhizao Technology and the chairman of Jianye Group, and Diao Zhizhong, chairman of Glodon Technology Co., Ltd. all placed high hopes for the cooperation between the two parties at the meeting.
At the press conference held on August 24, Zhuyou Zhizao Technology Board Chairman and Executive Director Liu Weixing, Executive Director and Chief Executive Officer Guo Weiqiang, and Non-executive Director Wang Jun attended the Zhengzhou venue and answered on-site questions.
The announcement also disclosed the direction of the use of the capital. The net proceeds from the subscription (after deducting the expenses incurred by the subscription) are approximately HK$287.5 million. Among them, 90 million Hong Kong dollars is intended to be used for digitalization and software development related to the construction industry, and the remaining amount will be used for working capital and other general corporate purposes.
Guo Weiqiang, executive director and chief executive officer of Zhuyou Zhizao Technology, said that Glodon's shareholding in Zhuyou Zhizao Technology is a milestone in the cooperation between the two parties from the business level to the strategic level, and will officially start the joint operation of the digital business of prefabricated buildings. In the future, the cooperation between the two parties will focus on the national "14th Five-Year Plan" digital planning, carbon peaking and carbon neutrality, construction industry transformation and upgrading and other macro strategies, bringing more value and imagination to the digitalization of China's construction industry Solutions to empower and increase efficiency for the transformation, upgrading and high-quality development of the prefabricated construction industry.
Zhuyou Intelligent Manufacturing Technology (00726.HK) completed the allotment of 300 million shares.
source
https://cj.sina.com.cn/articles/view/5115326071/130e5ae7702001iqmy
November 19, 2021 18:59 Gelonghui APP
Zhuyou Zhizao Technology (00726.HK) issued an announcement that all the conditions set out in the subscription agreement have been fulfilled, and the subscription has been completed on November 19, 2021 in accordance with the terms of the subscription agreement. In addition, a total of 300 million subscription shares have been issued and allotted to subscribers at the subscription price in accordance with the terms and conditions of the subscription agreement.
WiMi Invested in BlueCloud Technology to Create a Virtual Digital Platform for Smart Sports.
source
https://finance.yahoo.com/news/wimi-invested-bluecloud-technology-create-130000699.html
Wed, November 17, 2021, 2:00 PM
WiMi Hologram Cloud Inc. (Nasdaq: WIMI), a leading global application solution provider of holographic augmented reality ("AR"), today announced:
WiMi invested BlueCloud Industrial Interconnection Technology to create a virtual digital platform for smart sports.
BlueCloud Technology is composed of a number of highly sophisticated scholars, including the "Thousand Hundred Ten Project" talents from universities in Guangdong Province, members of the National Automation System and Integration Standardization Technical Committee Robotics Subcommittee (SAC/TC159/SC2), and Bremen, Germany Professor of Marine Systems and Robotics, Senior Mechanical Engineer, Jacobs University, etc.. Combining WiMi Hologram's real and rich business data and application scenarios, bilateral in-depth cooperation is to jointly train innovative research talents, carry out cutting-edge technological innovations, and accelerate the application of scientific research results. BlueCloud Technology integrates intelligent robots and intelligent manufacturing technology, and is a center for improving the knowledge structure of digital talents and a training center for high-tech talents with multiple intelligent manufacturing technologies.
BlueCloud Technology develops and operates an online service platform in response to the common needs of the intelligent equipment industry. It has a networked application matrix of scientific and technological resources such as APPs and small programs, and connects the open laboratory software and hardware basic environment built by the platform to form an intelligent technical service menu. Innovative and entrepreneurial users can directly make appointments online to realize on-site self-service, and at the same time can make appointments for the software and hardware environment demand services such as public training of intelligent manufacturing talents, technology promotion, and intelligent manufacturing standard verification and development.
WiMi has been focusing on software content development, cloud platform construction, and industrial chain investment integration in the holographic AR industry. The resources of both sides cover the knowledge, scientific and technological talents, and experimental bases and other scientific and technological innovation resources of the 42 innovation platforms of large enterprises, universities and research institutes. It provides production technology services such as R&D and design, process development, pilot incubation, testing, scientific and technological talents, standards and intellectual property rights for small and medium-sized enterprises in the intelligent upgrading of industrial manufacturing and the intelligent equipment industry to promote the efficient allocation of professional scientific and technological resources, reduce the cost of innovation and entrepreneurship, and enhance the independent innovation capabilities of enterprises.
WiMi has a deep understanding and comprehensive grasp of content production technology and visual system development technology in the field of holographic intelligent vision innovation. BlueCloud Technology uses the holographic intelligent vision technology in the field of intelligent industrial inspection, and is committed to the research, development and application of sensitive intelligent visual sensors, high-speed holographic image processing, and intelligent image recognition.
The platform takes mechanical design, finite element analysis, kinematics, dynamics and holographic simulation as the core, uses mature computer intelligent vision technology to establish a digital model of intelligent mechanical system, and provide a computer intelligent virtual research platform. In the first half of 2021, our global operating revenue increased by about 202.2% year-on-year, gross profit increased by 189.8% year-on-year, net profit increased by 40.3% year-on-year and our R&D expenses increased by 463.6% year-on-year. We increase R&D investment to maintain the company's leading competitive edge in the Metaverse and holographic AR industries. Looking forward to the whole year of 2021, with the outbreak of the Metaverse industry and the company's R & D investment continues to increase, WiMi holographic revenue is expected to continue to maintain rapid growth.
About WIMI Hologram Cloud
WIMI Hologram Cloud, Inc.(NASDAQ: WIMI) was founded in 2015, which is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation, metaverse holographic AR and VR equipment, metaverse holographic cloud software and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic virtual communication, metaverse holographic AR technology, metaverse virtual cloud service, and other holographic AR technologies.
Capstone Companies Reports Third Quarter 2021 Performance.
source
https://finance.yahoo.com/news/capstone-companies-reports-third-quarter-181700230.html
Tue, November 16, 2021, 7:17 PM
Capstone Companies, Inc. (OTC: CAPC), a designer, manufacturer and marketer of consumer inspired products that simplify daily living through technology reported its third quarter 2021 financial results on Monday, November 15, 2021. As a direct result of ongoing delays of certification and testing, the Company’s planned product launch for Q3 2021 was delayed and no revenues were generated in the third quarter accordingly.
The Company’s plan to produce an estimated 3,000 mirrors in 2021 remains intact. The remarkable increase in costs and limited availability of transport as widely reported in daily news coverage will impact the stateside availability dates for the second production run of 2,000 mirrors. The cost mitigation plan implemented in 2020 and the $1.5 million private equity placement in April 2021 has enabled the Company to sustain operations during these unprecedented times.
Stewart Wallach, Capstone’s Chairman & Chief Executive Officer, commented, "While the outbreaks of COVID have minimally effected the workforce in China and Thai factories in Q3, the certifications and testing, specifically FCC EMC, remain pending precluding the Company from shipping mirrors in Q3 as anticipated."
He added,
"Management continues to exhaust every effort in addressing the delays which frankly are inexplicable. We have confirmed (as per my October 11th PR) that the FCC EMC product testing was completed and that the certification is forthcoming. We are aggressively following up daily to bring this matter to a close. In the thirty-five years that your management team has been creating and bringing new consumer products to market, we have never experienced anything like this before."
Wallach further commented,
"On a positive note, to avoid any further delays, we have pre-paid an estimated $700 thousand for components and production for the first 1,000 mirrors are scheduled at the factory pending the publication of the FCC certification. We are standing ready for initial product release. The insiders and directors remain resolute, and have continued to support the Company with an additional $1 million in inventory funding made available on October 18th. In addition to the funding, the largest insider shareholders have not sold any shares. I realize the shareholder community is anxious as communications have been limited since mid-October and accordingly, I will be scheduling a webcast prior to Thanksgiving to share material updates on the Smart Mirror program."
About Capstone Companies, Inc.
Capstone Companies, Inc. is a public holding company that engages, through its wholly owned subsidiaries, Capstone Industries, Inc., Capstone Lighting Technologies, LLC, and Capstone International HK, Ltd., in the development, manufacturing and marketing of consumer products to retail channels throughout North America and certain international markets.
Visit our websites;
https://capstonecompaniesinc.com/
for more information about the Company and
https://capstoneconnected.com/
for information on our current product offerings. Contents of referenced URL’s are not incorporated herein.
FINANCIAL TABLES FOLLOW. - Please read at:
https://finance.yahoo.com/news/capstone-companies-reports-third-quarter-181700230.html
How This Healthtech Company is Transforming The US$11.9 Trillion Industry With A Connected, Whole-Person Approach To Care.
source
https://microsmallcap.com/cloudmd-software-services/doc-1/need-for-telemedicine-north-america/lp-g1?utm_source=FNM&utm_campaign=FNM-tickertag_DOC_FNM_MSC-LP-G1_FNM_cmt_CA-US_M-F_704065&utm_medium=tickertag&utm_term=utm_term&utm_content=DOC-LP-G1
Nov 17, 2021
CloudMD Software & Services Inc.’s (TSXV:DOC) (OTC:DOCRF) (FRA:6PH) is using its patented comprehensive healthcare platform to penetrate market share across North America.
Every year, companies across North America bleed hundreds of billions in hidden costs.
The culprit? Productivity losses caused by illness and chronic diseases, including conditions such as depression, stress, and anxiety.
US employers lose an estimated $530 billion every year in lost productivity.
Canadian employers lose C$122 billion annually (not including C$68 billion in direct healthcare costs).
And that was before the pandemic.
Today, the situation is more dire than ever.
Mental health cases are continuing to skyrocket.
Over the last 12 months, 1 in 5 Americans sought mental health support.
But that’s not even the worst of it…
Today, 1 in 6 US youth between the ages of 6 to 17 have a mental health condition.
Despite these troubling numbers, access to the right services has been difficult or even impossible for some.
In fact, 11.1% of Americans with a mental illness are uninsured, while 8.1% of youth had private insurance that didn’t cover mental health.
Luckily, there is a saving grace that emerged to combat this worsening crisis and it has completely revolutionized the $11.9 trillion global healthcare market.
We’re talking about Telehealth.
This sector has helped revolutionize traditional healthcare industries, by leveraging technology to provide more accessible care to patients.
A lot has changed in the world of healthcare, but nothing as big as the recent shift towards digital health.
Investors have already begun pouring billions into this growing industry and in turn, experienced some serious gains last year.
By Q3 2021, digital healthcare funding hit a record $21.3 Billion, shattering 2020’s full-year record.
It’s clear that the digital health revolution is far from over, meaning there are still plenty of wins to be made.
And we’ve found a company that is not just Telehealth but rather offers a holistic healthcare solution that covers both prevention and cure using a proprietary integrated platform.
Introducing CloudMD Software & Services Inc.), a vertically integrated health tech company that is rapidly becoming a leader in the space.
What makes this company so exciting?
CloudMD has grown significantly in the last year, and has a unique product offering – a proprietary, comprehensive healthcare platform that connects all points of a patient’s care, from ONE connected platform which is resulting in better access to care and improved outcomes. They are one of the ONLY companies to offer this holistic offering and large customers are starting to take notice.
The company has made several strategic acquisitions – including four new deals in Q2 2021 that added $96 million of annual revenue. CloudMD has a revenue run rate of $140 million and expects to turn profitable in Q3 2021.
CloudMD Software & Services Inc.) network includes:
7,000+ psychiatrists, 4,500 therapists and counsellors and 4,000 psychologists, 22,000+ family physicians, 34,000+ medical specialists, and 1,500+ allied health professionals across North America…
…And it’s just getting started.
Oh, and did we mention that CloudMD’s mission for market dominance is being supported by talented former execs from healthcare and insurance heavyweights like Teladoc, Morneau Shapell and LifeWorks?
CloudMD Software & Services Inc. is positioned to become one of the leading digital healthcare players of 2022 and beyond.
In fact, here are 6 reasons CloudMD Software & Services Inc. is a rare healthtech opportunity worth paying attention to.
REASON #1:
CloudMD Software & Services Inc. is Expanding its Reach and Growing Rapidly
Thanks to a spate of strategic acquisitions plus organic growth, CloudMD Software & Services Inc. has reported exponential revenue growth.
In the first half of 2021, its revenue climbed from C$5.9 million to C$24.4 million, while its gross profits more than quadrupled from C$2.2 million to C$9.2 million.
That’s a 318% growth in revenue and a 325% increase in gross profits.
For 2021, CloudMD Software & Services Inc is currently expecting a C$140 million revenue run rate – putting it on track for almost 200% growth and 2022 looks even stronger.
CloudMD made a number of strategic acquisitions over the last year to support its holistic platform across physical health, mental health, health navigation, specialists, assessments and education.
All of these services are connected by its proprietary technology backbone that seamlessly moves a patient through their healthcare journey and back to health faster!
REASON #2:
CloudMD Software & Services Inc. Proprietary Patented Technology is Disrupting the Healthcare Industry.
CloudMD’s business is broken into three main divisions, and its proprietary technology supports patients, providers and corporations. This technology provides the FULL healthcare ecosystem.
CloudMD’s just received US Patent Approval for its Real Time Intervention Platform (RTIP), which is the backbone for its healthcare platform. The RTIP has already been tested and is being used by various local, state and federal agencies like the US Department of Justice and US Department of Health and Human Services.
The company has leveraged its proprietary medical technology that both engages patients and clients, empowers doctors and mental health providers and adds value to payors.
CloudMD for Patients:
Provides easy access to see a Doctor or Therapist online as well as through a network of hybrid on the ground clinics. A team based approach that puts the patient first and empower them to take control of the healthcare.
CloudMD for Providers:
A “clinic in a box” solution that streamlines processes and functions with cloud-based medical records and billing software, plus an online patient portal that includes telemedicine, secure messaging, online booking and more!
CloudMD for Payors/Employers:
The Company’s fastest growing division contributing to over half its revenue. Provides a connected system of health solutions that recognize the unique physical and mental health needs of each person. Delivers customized care programs with Nurse Navigators who support and guide patients through their journey, resulting in better access to care and improved healthcare outcomes.
A Transformative Full-Service Employer Solution.
CloudMD Software & Services Inc. has created a proprietary, revolutionary employer health solution to better manage the health and wellness of their employees and family members. With PROVEN outcomes.
But Why?
Because employers are taking WAY more of the healthcare burden because of rising costs, increase in chronic disease including mental health and public system limitations. Annual premiums paid by employers are US$19 Billion, and employer healthcare costs are projected to increase by +130% by 2025.
CloudMD’s whole-person solution includes virtual, primary, and mental health support, as well as access to specialist and educational resources, and fixes the Employer’s challenge of using multiple vendors that are siloed and don’t work together. Employers are demanding better return on investment (ROI) on their health and wellness plans and want to see improved outcomes. Because CloudMD Software & Services Inc. owns all its proprietary technology, and has integrated an interoperability and data sharing technology backbone, it can provide important data, analytics and outcomes in REAL-TIME to its clients.
There’s already a significant amount of employer health solutions in the market, but none have connected all these health services from one, comprehensive platform.
One of CloudMD’s key differentiators is that it uses Nurse Navigators, or personalized health coaches to guide and support individuals through their care journeys and provide valuable resources and education, resulting in better access to care and improved outcomes. Patients can access the integrated platform and connect to a nurse navigator, who creates a customized care plan and pairs individuals to the right professionals and the right care.
The early results of this comprehensive platform are incredible. CloudMD has already onboarded over a quarter of a million individuals in a short amount of time, and more importantly can provide employers valuable data and outcomes to better manage their health and wellness spend.
Leveraging technology and an array of services that provides a connected care journey and improves health outcomes. As a leader in providing better care, CloudMD’s services have seen the following success outcomes:
- 215 Days Faster Access To Specialists Through Health Navigation.
- 86% Usage Rate On Its Integrated Platform.
- 92% Customer Satisfaction Rate.
- 98% Overall Client Retention Rate.
- 70% Symptom Improvement For Depression.
Yet, despite all of this:
REASON #3:
CloudMD Software & Services Inc. is Still Trading at a Valuation That Could Imply Substantial Upside (With Strong Growth Catalysts on the Horizon).
With a revenue run rate of $140 million CloudMD is trading at 2.4x P/S Ratio – Significantly undervalued compared to peers.
For tech companies growing at this rate, it has usually become prohibitively expensive for investors to still capitalize on the opportunity.
But when it comes to CloudMD Software & Services Inc., there is a significant opportunity for growth as it is currently trading at a far lower price-to-sales ratio compared to its peers – giving it significant upside potential.
We’ve already seen many examples of healthtech stocks seeing rapid growth that delivered significant returns to investors who got in early.
And CloudMD Software & Services Inc. could be next because it is still trading at a price-to-sales multiple many times below that of both its smaller and larger healthtech peers.
Meaning the market has yet to “catch up” to its true potential – even as the company sprints forward and blows past one milestone after another.
This is exceedingly rare in a technology-enabled sector, where valuations can sometimes seem to run too far ahead of revenue.
Especially when CloudMD’s proprietary platform has been acknowledged to have the widest capabilities and strongest scalability potential.
But this “valuation gap” may not last much longer because CloudMD is planning to uplist to the main exchange – a move that could quickly narrow the valuation gap once more investors catch on to the company’s true potential.
And at the valuations it is currently trading at, the potential for upside is phenomenal – especially considering the company’s exponential revenue growth.
Although CloudMD Software & Services Inc. growth numbers may seem high to some, we think it could actually be conservative.
REASON #4:
CloudMD Software & Services Inc. is Embarking on a Strategic, Multi-Pronged Expansion Plan Throughout North America.
Grandview Research puts the global corporate wellness market size at $58.2 billion in 2021 – and expects it to grow to $93.4 billion by 2028 – as companies grasp the necessity of holistically supporting their employees’ health and wellbeing.
While CloudMD Software & Services Inc.’s strategic acquisitions have already helped drive an exponential rise in revenue, the company is just getting started.
Now that its integrated platform is in place, CloudMD is embarking on an aggressive yet strategic expansion into the US – a major growth catalyst.
With C$50 million in cash in the bank, CloudMD Software & Services Inc. already has the funds needed to drive its expansion.
By following the same disciplined strategy of only targeting highly value-accretive opportunities, CloudMD is poised to take its revenue to the next level.
Each potential acquisition will be carefully scrutinized to ensure it fits into the company’s broader vision – solving problems across the entire healthcare spectrum using the power of technology.
That means it will penetrate the healthcare market from multiple angles, from physical and mental health to health aging and health at work.
In short, CloudMD is pursuing business diversification that will also allow it to enhance the capabilities of all its solutions.
And it’s not just solely focusing on M&As – it’s also growing its global sales team to further boost organic growth.
Offering holistic healthcare solutions to employees is looking like one of the best ways to help solve this urgent problem by combating worker stress, boosting productivity, and increasing retention.
To really make a difference and seize the opportunity being presented, companies must offer a holistic healthcare solution that covers both prevention and cure.
An ideal solution would:
- Offer everything from mental and occupational health support (both virtual and in-person) to rehabilitation and quicker access to care.
- Support the physical and mental health of employees while saving costs for employers through reduced absences and improved engagement.
- And deliver all these benefits through a single integrated digitally-enabled platform.
In other words, an ideal solution would look like what CloudMD Software & Services Inc. is already offering and is expanding across North America.
CloudMD’s solution offers:
- Virtual care
- Mental health support
- Health navigation (aka quicker and better access to care)
- Rehabilitation (virtual and in-person)
- Adjudication and assessments
- Absence management
- Occupational health
- Educational resources
All in one!
It’s why an analyst from Stephens – one of the largest privately-owned investment banks in the US – calls CloudMD a “one stop shop” for employer clients with a platform that “offers the broadest scope and extensive scale to take market share.”
And now…
REASON #5:
CloudMD’s Cutting-Edge and Patented Integrated Platform Can Deliver a Personalized and Seamless End-To-End Healthcare Journey – Plus the Potential to Quickly Scale.
On October 27, 2021, CloudMD Software & Services Inc. announced that it had received US patent approval for its proprietary Real Time Intervention Platform.
This platform is the “backbone” of all CloudMD’s offerings – connecting and integrating all its capabilities, from primary care and mental health to rehab and education.
Such integration will generate substantial synergies, allowing the company to offer the full range of its services through one single package – boosting cross-selling potential and enabling scale.
In technology, scalability is the key to success.
And in today’s world, consumers want everything to be available “all in one” in a personalized and seamless package.
That’s exactly what CloudMD’s platform delivers, which is why investment bank Stephens notes that:
- “CloudMD offers a broad range (if not the broadest range) of on-site and virtual healthcare services in the industry and is growing geographical reach, making it a one-stop shop for payer/provider/employer clients.
- We expect CloudMD to continue to grow market share by this breadth and depth of services and see a compounding multiple effect…”
But while CloudMD has multiple near-term catalysts on the horizon, it is much more than just a short-term play.
REASON #6:
CloudMD is Also Strategically Positioned to Capitalize on Multiple Megatrends Happening in the $6.2 Trillion US Healthcare Industry.
US healthcare spending stood at $3.6 trillion in 2018 and is estimated to hit $6.2 trillion by 2028.
It’s an absolutely gargantuan industry.
Which is why it’s so important for investors to pay attention to the “megatrends” – the long-term trends shaping the very structure of an industry – to get ahead of them.
BlackRock, the world’s largest asset manager, says that investing in megatrends allows for a “longer-term and less cyclical approach”.
And the good news?
CloudMD Software & Services Inc. is strategically positioned at the intersection of several megatrends happening in healthcare right now, including:
- A rapid “digitalization wave” spreading through healthcare, resulting in things like telehealth going mainstream.
- Rising expectations of healthcare consumers who now want healthcare to be as personalized, seamless, and convenient as possible.
- The normalization of seeking mental health treatment and an awareness that the mental health crisis is larger than most expected.
- Continually rising healthcare costs handing the advantage to scalable digital platforms that can help mitigate cost increases.
In short, CloudMD is a rapidly-growing yet undervalued company with multiple short-term growth catalysts that has also positioned itself to benefit from multiple healthcare megatrends.
CloudMD is Led by a Management Team With Over 100 Years of Healthcare Experience Who Understand How to Solve the Specific Challenges Every Player in the Healthcare System is Facing.
Dr. Essam Hamza MD – CEO:
Dr. Hamza completed his MD and Family Practice degree at the University of Alberta in 1999. He founded HealthVue in 2005 and grew the business to include four interconnected high-tech clinics serving over 100,000 patients. He also has extensive capital markets experience, taking private companies public and sitting on public company boards. He has successfully raised approximately $140 million and led CloudMD to a $500 million market cap with a revenue run rate of $140 million.
Karen Adams – President:
Karen brings over 20 years of success driving growth in public, private and not-for- profit companies with a focus on supporting employee/consumer health and wellness. Karen has worked in senior executive positions at Shepell.fgi (now Morneau Shepell), SCM Insurance, Snapclarity and past Chair of Ontario Shores Centre for mental health foundation. At Morneau Shepell, she was part of a team that helped grow the company from $25 million to $150 million in 8 years through both organic and strategic acquisition. Part of her specialty includes creating industry-leading sales teams who have been able to achieve outstanding growth – something she is bringing to her role at CloudMD.
Angel Paravicini – SVP of Business Development and Customer Success:
Angel is a dedicated, passionate and growth minded executive with over 15 years’ experience in healthcare sales, sales management, vendor relations, pipeline management, relationship building, contract negotiating and training. She has a proven track record of building new distribution channels and expanding relationships through outstanding networking and product presentations. In Angel’s most recent role, she spent over 4 years as the Head of North American Partnerships and Sales for Lifeworks, a global leader in digital healthcare. She was responsible for leading the company’s successful expansion into new mental health employer markets across North America. Before LifeWorks, she held senior leadership roles at Teladoc and HealthiestYou, leading high-performance sales and partnership development teams in North America and globally.
RECAP: 6 Reasons
CloudMD Software & Services Inc. (TSXV:DOC) (OTC:DOCRF) (FRA:6PH) is a Fast-Growing, Undervalued Opportunity in the Healthcare Space.
1
Has already displayed exponential revenue growth stemming from both organic growth and strategic acquisitions.
2
Proprietary technology that is disrupting the US$11.9 trillion global healthcare industry.
3
Rolling out a strategic, multi-pronged North American expansion plan – with C$50 million of cash in the bank to fund it.
4
Still substantially undervalued compared to its peers – P/S ratio of 2.4X is one of the lowest in the industry.
5
Patented integrated healthcare platform gives it a great shot at capturing market share and quickly scaling.
6
Strategically positioned to capitalize on multiple megatrends happening in the healthcare industry – from digitalization to normalization of mental health treatment.
Hype Cycle™ for Digital Commerce, 2021- Gartner Complementary Report.
source
https://www.artificial-solutions.com/conversational-ai-reports/gartner-reports
As per Gartner, “pursuing digital commerce is a key way to gain customers, boost revenue and reduce costs. This Hype Cycle will help application leaders evaluate a wide range of commerce technologies in light of how long they will mature, and the extent of their business impact.”
This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document.
In the coming years, it’s expected that customers will manage the majority of their relationship with an enterprise without interacting with a human and that millions of consumers will use voice-enabled conversational AI to purchase on digital commerce platforms.
According to Gartner, “VCAS are the most prevalent use case of VAs and are being adopted by many organizations to support customer-facing interactions. The COVID-19 pandemic has accelerated this adoption, pushing some use cases into the mainstream adoption phase, but new cases in healthcare or brand marketing are also emerging.”1
With users now partially unable to physically shop, digital commerce takes even more importance and VCAs are a great tool to support it. “The top business value benefits that organizations are getting with VCA are improving operational efficiency, reducing costs and enabling 24/7 support while improving customer experience. This is enabled by moving engagements to self-support channels with faster time to resolution.”1
Artificial Solutions understands this and that’s why we created Teneo, a powerful end-to-end development platform that provides everything you need to rapidly build advanced, conversational AI applications. Its enterprise strength and proven technology is capable of scaling to deliver both the exceptional customer experience your users demand and robust, business continuity to secure your organization’s future. Our company is named by Gartner as a Sample Vendor for Virtual Customer Assistant inside this report.
About Artificial Solutions
Artificial Solutions® (SSME:ASAI)
http://www.nasdaqomxnordic.com/aktier/microsite?Instrument=SSE145803&name=Indentive%20B
is the leading specialist in Conversational AI. We enable communication with applications, websites and devices in everyday, humanlike natural language via voice, text, touch or gesture input.
Artificial Solutions’ advanced Conversational AI Teneo®, allows business users and developers to create sophisticated, highly intelligent applications that run across 86 languages and dialects, multiple platforms and channels in record time. The ability to analyse and make use of the enormous quantities of conversational data is fully integrated within Teneo, delivering unprecedented levels of data insight that reveal what customers are truly thinking. Artificial Solutions’ Conversational AI technology makes it easy to implement a wide range of natural language applications such as virtual assistants, conversational bots, speech-based conversational UIs for smart devices and more. It is already used daily by millions of people across hundreds of private and public sector deployments worldwide.