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Functional Areas
The TALOS vision is divided into distinct functional areas, each charged with integrating state-of-the-art technologies into a single, purpose-built combat suit system. An overview of each functional area is provided below:
Power & Energy
The TALOS power supply must generate enough power to support the suit for a typical SOF mission profile. It must be self-contained, in a man-packable form factor, reliable, redundant and tactically realistic.
Mobility & Agility
This area focuses on the development of a exoskeleton system that provides full-body load transfer, while dramatically improving the physical performance of an Operator, providing beyond optimal performance capabilities, with no hindrance to movement.
Survivability
The mission of this area is to maximize protection from common man-packable combat threats, emphasizing a focus on historic vulnerabilities while minimizing impacts to agility.
Operator Interface
The Operator Interface will use integrated movement control and intuitive cognitive interface systems to provide an exponential leap in situational awareness.
Human Factors
This area is focused on utilizing modeling and simulation tools to guide TALOS design approaches. It incorporates technologies for real-time physiological, cognitive, and medical monitoring, maintaining optimal thermal state, and integrating human- machine interfaces to maximize Operator performance via biomedical modeling.
Computing
This area requires an onboard multi-core real-time processing open source architecture to support agile upgrades, seamless systems fusion, and onboard data storage.
C3I
TALOS requires a modular communication solution that can digitally sense environmental data via multiple modalities and allow high bandwidth communication with other assets.
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http://archive.is/3Ik95
Ekso Bionics and HATR (High Altitude Telemetry and Reconnaissance)
Imagine a drone flying above a fire fight. It might detect enemy combatants, but the targets might be too close to civilians for a drone strike to be effective. Now imagine that the drone pictures are being relayed to someone in the TALOS suit. Not only does the person in the TALOS suit know where the enemies are located, they also could even see a virtual reality version of the battlefield that shows the position of the enemy.
Essentially this would be like turning on wall hacks. Walls could be shown as slightly transparent, with drone information creating the virtual reality for the soldier who would not normally know what is around the corner.
TALOS SUIT AND DRONE COMMUNICATION???
https://en.wikipedia.org/wiki/432d_Wing
The 432d Wing is the first United States Air Force wing dedicated to unmanned aircraft systems. The wing stood up 1 May 2007 at Creech Air Force Base, Nevada.[2][3] The wing has dual reporting responsibilities to Ninth Air Force and U.S. Air Forces Central Command (USAFCENT) (as the 432d AEW) at Shaw AFB, South Carolina, as well as to Twelfth Air Force and U.S. Air Forces Southern Command at Davis-Monthan AFB, Arizona.[4]
The 432d is the first wing totally dedicated to operating remotely piloted aircraft: the MQ-1 Predator, MQ-9 Reaper, and RQ-170 Sentinel.[5] The wing has flown aircraft in Operations Enduring and Iraqi Freedom for intelligence surveillance reconnaissance and tactical missions, flown by pilots and sensor operators in the United States.[6]
The 432d is authorized 160 Predator and 60 Reapers. As of May 2007, 6 Reapers and about 85 Predators have been delivered with half of the Predators deployed forward in the United States Central Command area of operations. The wing is expected to fly 12 combat air mission in Iraq and Afghanistan each day.[7]
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Read this on AEgis Technologies:
Modeling & Simulation, It’s What We Do.
AEgis Technologies specializes in utilizing modeling & simulation (M&S) technology to support weapon systems development and create training solutions so our war fighters make it home safely. Our M&S products and services include simulation software and training simulators; geospatial databases; 3D models; warfighter exercise support; systems engineering and analysis; verification, validation, and accreditation (VV&A); test and evaluation support; process control automation; and Hardware-in-the-Loop (HWIL) simulation.
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display technology from Avegant:
https://www.avegant.com/
NASA fabrication of TALOS?
one of the groups on the TALOS collaboration list is NASA Langley
I think these details are relevant:
From: https://en.wikipedia.org/wiki/Langley_Research_Center
Electron beam freeform fabrication (EBF³)[edit]
The EBF³ process produces structural metallic parts with immense strength, and useful in performing repairs in remote locations. Additionally, the ability to build functionally graded, unitized parts directly from CAD data offers enhanced performance in numerous applications. Recently, LaRC has become home to this new type of machining process, which is used by their new room-sized electron-emitting device, which uses a High Frequency 42 kW, X-ray emitting electron gun (similar to Cathode Ray Tubes), which quickly melts either aluminum or titanium wire (positioned by dual independent wire feeders) into the desired 3-dimensional metallic parts with a material strength comparable to that of wrought products. The machine's deposition rate is 150 in³/h (690 mm³/s), equivalent to its plastic-fabricating counterpart. Metallic parts are also built directly from CAD without molds or tools, leaving the end product with absolutely no porosity. Other properties include:
6-axis positioning
Heated or cooled platen
1×10-6 torr vacuum capability (needed for the high power Electron beam gun)
72 × 24 × 24 inch build envelope
Power efficiency in excess of 90%
Near 100% feedstock efficiency
Can deposit reflective materials not processable with lasers
Potential portable EBF³ system (Under Development)
Potential Fabrication & repair from the plants to the planets
Research assistance for developing large scale fabrication in space
Overall, Electron Beam Freeform Fabrication is a layer-additive technique that offers potential for improvements in cost, weight, and performance to enhance mission success for aircraft, launch vehicles, and spacecraft.
MIT and Ekso Bionics are both working on TALOS together. I think this may be one of the greatest teams of humans ever assembled. This list reminds me of the picture of the 5th Solvay Conference.
https://en.wikipedia.org/wiki/Solvay_Conference#Fifth_Conference
Here is the full list:
Government Collaborators and Academic Collaborators LISTED:
Translated from a Japanese page:
https://translate.google.com/translate?hl=en&sl=ja&u=http://news.militaryblog.jp/e540203.html&prev=search
Government Collaborators
* 432nd Wing
* Air Force Research Laboratory
* ARL
* Center for Irregular Warfare and Armed Groups
* Combating Terrorism Technical Support Office (CTTSO)
* USSOCOM Component Commands
* Defense Advanced Research Projects Agency (DARPA)
* In-Q-Tel
* Joint Improvised Explosive Devices Defeat Organization
* Lawrence Livermore National Laboratory
* Lincoln Laboratory
* Los Alamos National Laboratory
* MIT Lincoln Library
* NASA Johnson Space Center
* NASA Langley
* Naval Special Warfare Foundation
* New York Police Department (NYPD)
* Sandia National Library
* US Army Natick Soldier Systems Center (Natick)
* US Naval Research Laboratory
Industry Collaborators
* Adidas
* ADS
* AEgis Technologies
* Agis
* Allen Vanguard
* Altamira
* Anderson Consulting
* Anthro Tronix
* Avegant
* Azure Summit Technologies
* B-temia
* Blackbird Technologies
* Boeing
* CMI
* CWS
* David Clark
* Deep Springs Technology
* Design Interactive
* Draper Laboratory
* Ekso Bionics
* EMC2
* Global Satellite Engineering
* Helios Design Labs
* Honeywell
* Invisio
* IST
* Legacy Effects
* Linear Labs
* Lockheed Martin
* Mawashi
* Miltech
* National Public Radio (NPR)
* Nike
* Oceanic Safety Systems
* Physical Operator Corporation
* Protonex
* Raytheon
* Red Bull Air Force
* Revision
* RINI Technologies
* Robotics Technology Consortium
* Rockwell Collins
* Sage Cheshire
* Select Engineering Services (SES)
* Sierra Nevada Corp.
* Tampa Energy Solutions
* Tandel Systems
* Teledyne Brown Engineering, Inc.
* Thales
* Transformair
* Under Armor
* Vodik Labs
* Warwick Mills
* Wilcox
* Wyle
Academic Collaborators
* Georgia Institute of Technology
* Harvard University
* Johns Hopkins University
* Massachusetts Institute of Technology (MIT)
* Naval Post-Graduate School (NPS)
* Naval War College
* Stanford University
* Chief of Naval Operations Strategic Studies Group (SSG)
* University of North Carolina- Chapel Hill
* University of Pittsburgh
* University of South Florida (USF)
* Virginia Tech
Government Collaborators and Academic Collaborators LISTED:
Translated from a Japanese page:
https://translate.google.com/translate?hl=en&sl=ja&u=http://news.militaryblog.jp/e540203.html&prev=search
Government Collaborators
* 432nd Wing
* Air Force Research Laboratory
* ARL
* Center for Irregular Warfare and Armed Groups
* Combating Terrorism Technical Support Office (CTTSO)
* USSOCOM Component Commands
* Defense Advanced Research Projects Agency (DARPA)
* In-Q-Tel
* Joint Improvised Explosive Devices Defeat Organization
* Lawrence Livermore National Laboratory
* Lincoln Laboratory
* Los Alamos National Laboratory
* MIT Lincoln Library
* NASA Johnson Space Center
* NASA Langley
* Naval Special Warfare Foundation
* New York Police Department (NYPD)
* Sandia National Library
* US Army Natick Soldier Systems Center (Natick)
* US Naval Research Laboratory
Industry Collaborators
* Adidas
* ADS
* AEgis Technologies
* Agis
* Allen Vanguard
* Altamira
* Anderson Consulting
* Anthro Tronix
* Avegant
* Azure Summit Technologies
* B-temia
* Blackbird Technologies
* Boeing
* CMI
* CWS
* David Clark
* Deep Springs Technology
* Design Interactive
* Draper Laboratory
* Ekso Bionics
* EMC2
* Global Satellite Engineering
* Helios Design Labs
* Honeywell
* Invisio
* IST
* Legacy Effects
* Linear Labs
* Lockheed Martin
* Mawashi
* Miltech
* National Public Radio (NPR)
* Nike
* Oceanic Safety Systems
* Physical Operator Corporation
* Protonex
* Raytheon
* Red Bull Air Force
* Revision
* RINI Technologies
* Robotics Technology Consortium
* Rockwell Collins
* Sage Cheshire
* Select Engineering Services (SES)
* Sierra Nevada Corp.
* Tampa Energy Solutions
* Tandel Systems
* Teledyne Brown Engineering, Inc.
* Thales
* Transformair
* Under Armor
* Vodik Labs
* Warwick Mills
* Wilcox
* Wyle
Academic Collaborators
* Georgia Institute of Technology
* Harvard University
* Johns Hopkins University
* Massachusetts Institute of Technology (MIT)
* Naval Post-Graduate School (NPS)
* Naval War College
* Stanford University
* Chief of Naval Operations Strategic Studies Group (SSG)
* University of North Carolina- Chapel Hill
* University of Pittsburgh
* University of South Florida (USF)
* Virginia Tech
Red Bull Air Force --- I'm guessing they want to be able to parachute with the TALOS suit on? Perhaps the suit could have gliding functionality with out being able to fly.
Sierra Nevada Corporation: *note: not the beverage group*
Maybe they actually do intend on some amount of propulsion for boosted jumps and or maybe just to let them have additional control while parachuting/gliding. I can almost promise they won't be able to just lift off the ground and just fly around for prolonged periods (at least with this model).
Sierra Nevada Corporation specializes in propulsion!?!?!?
http://www.sncspace.com/
NPR: of course the suit has built in radio communications. I didn't know NPR was an expert in this field, but I wouldn't be surprised by this either.
There are a bunch of body armor companies, an air filtration company, engineering, manufacturing, display companies, virtual reality companies, a laser fixing and ranging company, and more.... I think this list gives a very good idea on what sort of capabilities to expect.
Jackpot Research Find: http://kitup.military.com/2014/04/socom-lists-iron-man-suit-collaborators.html
"The U.S. military listed off the companies its working with thus far to develop a tactical suit for special operators that is often compared to the suit worn in the Hollywood film Iron Man.
Many of the companies listed on the Tactical Assault Light Operator Suit (TALOS) are the usual defense regulars like Boeing, Raytheon and Lockheed Martin. There a few other athletic wear companies like Nike and Under Armour. And then there are a few outliers that have left some in the industry scratching their heads like National Public Radio and Red Bull Air Force.
Military leaders to include Adm. William McRaven, the head of U.S. Special Operations Command, have touted the suit as a next generation capability that will change how Special Forces operate. Leaders like McRaven want it to provide troops super human strength, the ability to see through walls and a bulletproof skin, among other capabilities.
“That suit, if done correctly, will yield a revolutionary improvement in survivability and capability for special operators,” McRaven said in February.
Work has started on the suit. SOCOM officials hope to have prototypes by this June and start outfitting special operators by 2018.
Thus far, about 56 defense companies, 16 government agencies, 13 universities and 10 national laboratories are working on the program. Until the release of SOCOM’s new website dedicated to the program. Those companies haven’t been listed. Below is a list of those companies:
Adidas
ADS
AEgis Technologies
Agis
Allen Vanguard
Altamira
Anderson Consulting
Anthro Tronix
Avegant
Azure Summit Technologies
B-temia
Blackbird Technologies
Boeing
CMI
CWS
David Clark
Deep Springs Technology
Design Interactive
Draper Laboratory
Ekso Bionics
EMC2
Global Satellite Engineering
Helios Design Labs
Honeywell
Invisio
IST
Legacy Effects
Linear Labs
Lockheed Martin
Mawashi
Miltech
National Public Radio (NPR)
Nike
Oceanic Safety Systems
Physical Operator Corporation
Protonex
Raytheon
Red Bull Air Force
Revision
RINI Technologies
Robotics Technology Consortium
Rockwell Collins
Sage Cheshire
Select Engineering Services (SES)
Sierra Nevada Corp.
Tampa Energy Solutions
Tandel Systems
Teledyne Brown Engineering, Inc.
Thales
Transformair
Under Armor
Vodik Labs
Warwick Mills
Wilcox
Wyle
"
"Our long-term goal is to have one million persons stand and walk in Ekso exoskeletons by February 2022. The first step to achieving that goal is for us to focus on selling our medical exoskeletons to rehabilitation centers and hospitals in the United States and Europe. Ekso Bionics began that effort with the February 2012 sale of Ekso, an exoskeleton for complete spinal cord injuries (“SCI”). We have expanded that effort with the launch of our Variable Assist software and the announcement of our newest hardware platform, Ekso GT. The Variable Assist software enables users with any amount of lower extremity strength to contribute their own power for either leg to achieve self-initiated walking. The Ekso GT builds on the experience of the Ekso and incorporates Variable Assist, allowing us to expand our sales and marketing efforts beyond SCI-focused centers to centers supporting stroke and related neurological patients. In the U.S. there are about 5.9 million stroke and SCI rehabilitation sessions conducted on about 680,000 stroke and SCI patients at 16,900 facilities. Globally, there are an estimated 50,000 rehabilitation facilities"
One million people that have used the device before 2022 does not mean 1,000,000 sales. A single device built today could be used by thousands of people before 2022.
Even if Ekso was in all 50,000 rehabilitation facilities and every single facility bought 4 units - you would still be only 1/5 of the way to your sales estimate. I think we can agree that 1,000,000 unit sales is ridiculous (at least for the Ekso GT). If Ekso is going to hit their goal of one million total users, they will need many personal units and we have no way to predict what these will cost.
Let's be realistic with sales numbers.
Selling 100 units in a year would be a good first step, forget about 1,000,000 over 5 years. There aren't enough clinics in the world for that to happen. Also therapists must be trained for more than a day on how to use the devices; they can not simply just pick one up and start. Large scale sales like this might come in 10 years, after a low cost personal unit has been developed, but this is far too eager.
Also, share price isn't only based on just sales, it is also based on future earnings. If Ekso Bionics locks down a military contract, for say 10,000 TALOS suits - they might only make a couple million in sales. Yet, the market cap of the company could go up 30 million on this news. It is not the fact that they got sales, but rather that they now have a reason to expect to continue to make sales and grow.
At the moment, I am simply hoping for any sort of news to raise awareness of the company. I think plenty of people would invest if they knew more about it. I think half of what would make an FDA approval so good is beyond having more sales. It is the fact that so many people hear about the news, and then expect the company to well. I think this can create a positive feedback cycle where the predicted success is actually a self fulfilling prophecy.
At this point, Ekso hardly has any serious followers. This will change as more people hear about the company. My prediction is that they will stay under the radar until TALOS is released, when they will suddenly become a big name. This is what I am hoping for. Even if their TALOS sales don't make a ton of money for the company, I think the interest generated in the company/industry will far outweigh their sales. It's my opinion that the sales are secondary to people accepting exoskeletons as useful. At the moment, I don't think people have accepted this. I think when the TALOS suit comes out, they will be forced to.
My point is that Ekso stock could easily double without their immediate cash flow doubling.
Harvard and Ekso working together? Deductive Analysis:
Compare these 2 press releases from Ekso and Harvard:
http://ir.eksobionics.com/press-releases/detail/566/ekso-bionics-selected-for-development-of-next-generation
"EKSO BIONICS™ SELECTED FOR DEVELOPMENT OF NEXT-GENERATION DARPA EXOSKELETON
EKSO BIONICS TO CREATE FLEXIBLE EXOSKELETON FOR SOLDIERS; NEW APPROACH HAS POTENTIAL TO REVOLUTIONIZE WEARABLE ROBOTICS"
And:
http://wyss.harvard.edu/viewpressrelease/165/?utm_medium=email&utm_campaign=Harvards+Wyss+Institute+awarded+DARPA+contract+to+further+develop+Soft+Exosuit&utm_content=Harvards+Wyss+Institute+awarded+DARPA+contract+to+further+develop+Soft+Exosuit+CID_9f7c0b02bc31faab41d4fa0c57ddc25f&utm_source=Campaign%20Monitor&utm_term=img%20width625%20height194srchttpwyssharvardedustaticfilesnewsroompressreleasesExosuit-boots-625x194png%20altExosuit
"As announced today, the Defense Advanced Research Projects Agency (DARPA) has issued a $2.9 million contract to researchers at Harvard's Wyss Institute for Biologically Inspired Engineering to develop a flexible robotic exoskeleton that can be worn by soldiers — and eventually civilians — to make them stronger and more resilient." - The Verge
-----------------------------------------------------------
It's my opinion that is that 'next generation flexible' and 'soft robot suit' may very well mean the same thing.
No where has it been said that these two groups are working together.
And yet, look at this about the Harvard/Wyss project:
"Boston-based New Balance will also be a key collaborator on this new phase of the project, bringing expertise in textile and apparel innovation."
Compared this to an Ekso Press Release (Aug 31, 2015):
"On August 31 at Fenway Park in Boston, SoldierSocks (soldiersocks.org) will also officially announce its new partnership with Boston-based sporting goods company, New Balance"
It would seem the two companies have a common thread (quite literally). It's technically Soldier Strong, not Ekso, who partnered with New Balance, but Soldier Strong has also agreed to buy 80 Ekso GT's, so they are transitively related.
I think it might be fair to assume that Ekso and Harvard are in collaboration. There could also be some very large coincidences and Warrior Web could have them working separately, for a similar goal.
I think the name "warrior web", which implies a connecting or webbing of technologies, means it's more likely they are working together than apart.
It also makes sense to me from a technical standpoint. The purpose of the flexible, textile, exoskeleton is to reduce weight and have a better monitoring of bio-mechanical impulses. Yet there are certain weight bearing features and safety mechanisms that would benefit from having a more rigid, metal exoskeleton. It makes sense to combine the best of both worlds and perhaps this is what the Warrior Web project is doing right now.
Other Source: http://www.theverge.com/2014/9/11/6137511/the-us-military-is-spending-2-9-million-to-develop-a-soft-robot-suit
Let's keep an eye on fundamentals
Evidence of usefulness: Many studies are underway and will be completed in the next few years
http://ir.eksobionics.com/press-releases/detail/563/ekso-bionics-announces-new-clinical-trial-underway-in-europe
https://globenewswire.com/news-release/2016/02/03/807455/0/en/Kessler-Foundation-Receives-1-M-Grant-to-Study-Benefits-of-Ekso-Bionics-Ekso-GT-Exoskeleton.html
Increasing Sales:
"Shipped 15 units and converted 2 rental units to purchases in the fourth quarter, expanding the installed base to over 170 medical devices at over 115 customers."
Increasing Revenue:
"Revenues of $1.9 million for the fourth quarter of 2015, compared to $1.5 million for the same period in the prior year."
"Engineering services revenue increased by $2.0 million, or 83%, to $4.4 million for 2015 compared to $2.4 million in the prior year. This increase was primarily due to an overall increase in revenue generating projects."
More Contracts:
"http://ir.eksobionics.com/press-releases/detail/566/ekso-bionics-selected-for-development-of-next-generation"
Other people buying Ekso stock:
"Entered into a definitive agreement with certain healthcare focused institutional investors for the sale of 15,000 shares of Series A Convertible Preferred Stock and warrants to purchase 14,851,486 shares of the Company’s common stock. The net proceeds to the Company from this offering were $13.9 million."
What has changed, fundamentally speaking, that has cause for concern? If there is something I am missing, I would like to know.
The CEO being removed off the board is a little scary, but without evidence of any wrong doing - I'm not sure it is worth reacting over. The value of the CEO is less intrinsic than most other fundamentals in my view. Revenue numbers are a lot more quantitative to me.
Missing earnings might be the only truly negative event. Missing by 2 cents per share isn't too terrible, I'm okay with that.
I don't think the Boston Dynamics thing is a big deal, Ekso has already received the 4th contract with DARPA and with out Google.
My opinion is that unless Ekso Bionics admits to fraud or has their products recalled by the FDA - I'm in it for the long run based on the current information.
Peter Lynch: There is no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it, when the fundamentals are deteriorating."
"Everyone has the brainpower to make money in stocks. Not everyone has the stomach. If you are susceptible to selling everything in a panic, you ought to avoid stocks and stock mutual funds altogether.
There is always something to worry about. Avoid weekend thinking and ignore the latest dire predictions of the newscasters. Sell a stock because the company's fundamentals deteriorate, not because the sky is falling."
Ekso is still working with warrior web!!!! Google is not.
http://ir.eksobionics.com/press-releases/detail/566/ekso-bionics-selected-for-development-of-next-generation
My understanding that this was a direct contract, even better than being subcontracted by Boston Dynamics in my view.
Also Ekso still has all the rights, this quote is in regards to the Boston Dynamics subcontract:
"Ekso received a subcontract from Google for the project, in which Ekso Bionics will retain rights to its proprietary intellectual property."
DARPA could have decided that they like Ekso Bionics and that they do not like Boston Dynamics. This would be bad for google, but good for Ekso.
Autonomous vs Human Controlled. HUGE DIFFERENCE
Robotics that augment humans are more powerful than stand alone robots. Remember this video?
This might be a stretch, but I'm thinking the exoskeleton is going to be the core of the modern soldier. Some if not all their equipment will be hooked up to it, for power and information transfer/processing.
From the National Defense Magazine article (last post):
"A pressing technology challenge for SOCOM today is logistics, specifically keeping track of equipment deployed to combat zones. Most formations have 50 percent of their equipment supplied by the conventional military services and the other 50 percent is SOCOM-customized. “How do I keep track of all that?” he asked. “I want to use big data, commercial technology, and not have to invest in a SOF logistics system.”"
I think TALOS is the answer to that question. An exoskeleton already needs advanced processing and information transfer, most of what is necessary already exists for the purposes of walking. It is quite literally 'piggy backing'.
Read this about SOCOM:
U.S. special operations forces are exceptionally tight-lipped about their duty assignments. But they are becoming increasingly forthright about their interest in innovative technology.
Taking a page from the Silicon Valley business playbook, the U.S. Special Operations Command has opened up its own technology incubator in Ybor City, a historic Tampa, Florida, neighborhood not far from SOCOM headquarters at MacDill Air Force Base.
SofWerX is a 10,000 square-foot open floor building with the look and feel of a tech startup. The name is a melding of SOF and a stylized spelling of "Works." SOCOM decided it needed to do something in response to growing concerns that the military has been a technology laggard and needs to create new channels to communicate with the faster-moving private sector.
“We’re flipping the engagement with industry,” said James F. Geurts, acquisition executive for U.S. Special Operations Command. He oversees a staff of 600 researchers, procurement and contracting officers.
SofWerX sounds a lot like the Pentagon’s Silicon Valley outpost, called DIUX, for defense innovation unit experimental. But there is one big difference. Whereas DIUX serves as a matchmaker between the tech industry and military buyers, SOCOM has contracting authority that it can use to sign deals with vendors on the spot, resulting in a much faster procurement cycle.
At a time when anyone can buy advanced weapons in the open market, U.S. special operators value speed more than anything else when it comes to acquisitions, Geurts said last week at the Atlantic Council, in Washington, D.C.
Operators don’t want to be surprised, he said. “I don’t know what I’ll need two years from now.” The much-maligned Pentagon procurement system does not help solve that issue. Defense Department buyers are only comfortable with traditional big-ticket weapon systems that take years to develop. The alternative for front-line commanders is to make emergency requests. But SOCOM operators need a flexible system that is not either or. “We try to have 15 to 20 ways to buy something. Velocity is my combat advantage.”
The Pentagon typically takes one of two paths, a “monolithic approach that is good for everything, and the rapid reaction stuff,” Geurts said. Special operators, meanwhile, have a “broad spectrum of needs, so we ought to have a wide spectrum of tools.” The federal acquisition rules are meant to be adaptable but the procurement workforce sticks with what is familiar. “The real trick is how to develop, train, challenge the workforce,” he said. The same could be said about defense contractors. “Over time you look a lot like us. It becomes a self-reinforcing system.” Vendors “mirror what we ask for,” Geurts added. “So how do we get the enterprise comfortable with a broad way of doing things?”
At SofWerX, officials host monthly meetings focused on topics like surveillance sensors, open source software and cybersecurity. “Three months ago we did a hackathon,” he said. These events draw commercial companies that routinely would not do business with the government. “We find that the up-and-coming generation wants to solve problems,” said Geurts. Whereas many commercial companies have steered clear of the defense market because of the red tape, SOCOM has been a magnet. The reason is that the command “can plug them in,” he added. “That is the challenge for DIUX. You can create the right match, have a great meeting, but how do you get on contract?”
SOCOM also encourages operators to think like tech entrepreneurs. “We have put engineering and manufacturing teams at fire base levels,” said Geurts. “They have 3D printers — design and development and manufacturing downrange, at the point of need.”
Defense Department leaders have been planning investments in next-generation technology — an initiative known as the “third offset.” Geurts worries that efforts like this tend to get bogged down in endless debates that waste valuable time. “We’re preoccupied about what it is,” he said of the third offset. “For me, it means speed, transition whatever it is as fast as possible. Our enemies’ ability to transition is outpacing us,” Geurts said. “It used to not matter so much but now we’re all using a commercial toolset. What the third offset should be is how to transition faster than anyone else in the world.”
SOCOM is smarting from the lessons of an ambitious program that started three years ago to develop a tactical assault outfit called Talos, also dubbed “Iron Man suit.”
The project suffered from “unreasonable expectations,” said Geurts. The goal is to provide better protection in the form of advanced body armor or exoskeletons. The five-year $100 million project has not delivered any big breakthroughs but is forcing SOCOM to “rethink how we deal with industry, academia, how we think about technology. … If we get there or not is not as important as trying to get there.”
[CLARIFICATION: A SOCOM spokesman said in a statement that Geurts' comments were aimed at explaining how 'We set very high expectations and are benefiting from spinoffs, even if we don't achieve all our goals. The Talos program is not suffering or smarting at all and the whole process is producing interesting spinoffs for potential use in the future. We think that is a success."]
One takeaway is that a system like Talos requires compatible technologies than can be easily plugged into a common interface. A similar approach is used for radios and sensors.
A pressing technology challenge for SOCOM today is logistics, specifically keeping track of equipment deployed to combat zones. Most formations have 50 percent of their equipment supplied by the conventional military services and the other 50 percent is SOCOM-customized. “How do I keep track of all that?” he asked. “I want to use big data, commercial technology, and not have to invest in a SOF logistics system.”
Although SOCOM enjoys a reputation in the defense industry for being easier to work with than the larger military services, analysts caution that the command’s buying channels can be difficult to navigate.
“The complexity of SOCOM buying makes it hard to know who to engage,” said a recent report by Bloomberg Government analyst Cameron Leuthy. A buying decision usually involves multiple players, such as the program office and the component commander. “Analyzing the SOCOM market isn’t easy because of its complex buying organization,” he noted.
SOCOM is the only military combatant command that has direct appropriations and procurement authority, although it doesn’t do all the buying. The military services support SOCOM acquisitions, and SOCOM funds modifications to service-procured equipment to meet unique requirements. SOCOM buying is often faster than the military services, as quick as 180 days, Leuthy said. The command’s acquisition office each year delivers 100 aircraft, 700 tactical vehicles, 4,000 weapon systems, 20 million munitions, 3,000 radios, 2,000 command-control-communications items, and 600 intelligence and surveillance kits.
SOURCE: http://www.nationaldefensemagazine.org/blog/Lists/Posts/Post.aspx?ID=2068
Luckily, they just bought themselves a lot of time over the next year with the 15 million dollar direct offering.
I would wait at least 6 months. If nothing positive has happened, reconsider getting out to avoid more dilution.
Exoskeleton Robots Market to Grow at 50.85% CAGR to 2020 Driven by Advances Technology
http://empowerednews.net/exoskeleton-robots-market-to-grow-at-50-85-cagr-to-2020-driven-by-advances-technology/18101696/
"According to the exoskeleton robots market report, advances in material technologies, control systems and sensors, software, and electrical and electronics engineering has helped in the development of new and advanced exoskeletons in the market. The availability of ultra-low-power exoskeleton technology has led to the development of robotic suits that enable anthropomorphic movements, which ensures that the robot does not need external power to operate.
In exoskeleton robots market research report analysts, have estimated the Americas to be the largest market for exoskeleton robots and is estimated to account for a market share of approximately 39% by 2020. Factors like a large number of people suffering from spinal cord injuries, traumatic brain surgeries, stroke, multiple sclerosis, and cerebral palsy have led to a steep rise in the number of rehabilitation centres across the US. The establishment of such rehab centres is expected to drive the exoskeleton robots market in this region.
The global exoskeleton robots market is in the nascent stage, but there is intense competition in terms of product features, price, clinical outcomes, and services. Very few vendors offer exoskeletons that are used in industrial and military applications as this market is still in the developmental and testing phase.
Global Exoskeleton Robots Market: Cyberdyne, Ekso Bionics, ReWalk Robotics, and Rex Bionics.Other Prominent Vendors in the market are: Alter G, Daewoo Shipbuilding and Marine Engineering, Hocoma, Honda, Interactive Motion Technologies, LockHeed Martin, Myomo, Panasonic, Parker Hannifin, Sacros, Toyota Motors, and US Bionics.
Further, the report states that one of the major challenges faced by the global exoskeleton robots market is high cost."
EKSO BIONICS LOBBYING SPENDING: https://www.opensecrets.org/lobby/clientlbs.php?id=F6638%20%20%20%20%20&year=2015
US ARMY, EKSO, STANFORD, and RE2 Robotics - COMMON GROUND
"RE2 will partner with the Human Engineering Research Laboratories at the University of Pittsburgh, faculty at Stanford University and experts at Ekso Bionics to develop the simulator."
www.bizjournals.com/pittsburgh/news/2016/02/12/re2-robotics-to-develop-exoskeleton-simulator-for.html
The earnings are well within the normal range. It's very important to realize that a company has both a top and bottom line.
Top line, Ekso is doing a great job at snagging valuable contracts. They also have the most research studies underway that I'm aware of.
Bottom line, it's okay that they spent a little bit more than they expected. Nathan's severance package could very well account for much of the difference between expected and actual.
My opinion is that it isn't a big deal. If anything, I will simply buy more stock if the price drops much further.
I'm a TALOS believer. I also think that the military has more concrete timelines than the FDA.
I also think the development with the US ARMY is absolutely crucial:
www.bizjournals.com/pittsburgh/news/2016/02/12/re2-robotics-to-develop-exoskeleton-simulator-for.html
The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.02, Market Beat reports.
http://www.mideasttime.com/ekso-bionics-hldgs-com-usd0-001-ekso-posts-earnings-results-misses-expectations-by-0-02-eps/814366/
When they say missing estimates, it is implied that the earnings are negative - so it's actually a loss of 7 cents per share compared to a loss of 5 cents predicted. I think this is why they use the term 'misses' when it appears as though it beat expectations at first glance.
Thank you for your kind words.
I'm glad Ekso has only gone down ~2 to 3 cents so far. (.86 currently)
Granted the market only just opened, but it doesn't look indicative of a major red day. I'd be surprised if it falls more than 5 cents total today.
I think one thing that is overlooked is how FEW people are actually following Ekso. In some ways, even a bad earnings report (reported a loss of 7 cents, compared to a 5 cent loss predicted per share) might be counteracted by much more media attention from people simply seeing the name.
Earnings reports like this are a great way for new investors to get on board. They see the company is growing. Personally I'd rather be too early than too late.
After 2018, I will only stick around if the P/E ratio stays intact - otherwise if it's blown up by hype I will exit. (P/E over 20 I try to avoid, even if the company is doing well)
One thing Peter Lynch said (paraphrasing) is that stock price might not have any correlation to company events within the last 6 months. In some ways this sounds obvious, but in others it is remarkable. I think it truly highlights what a fog of war the market is in so to speak.
Lets remember the company started out as a military company, and that's what they have been working on the longest.
FDA approval isn't going to be finalized in the next 30 days. It's simply moving on to the next stage so to speak. I was slightly misinformed on the time line of this.
Also the children's suit won't come out for longer than expected.
Even so, I think it's a solid buy and the TALOS suit will be a game changer and bring incredible amounts of attention to the company.
A story about physics in the military, relevant to EKSO.
The reason people think aliens exist in Roswell, NM is because of the 'weather balloon' the government was testing.The reason the government had something flying in the air is because of the SOFAR channel.
From WIKI:
"The SOFAR channel (short for Sound Fixing and Ranging channel), or deep sound channel (DSC),[1] is a horizontal layer of water in the ocean at which depth the speed of sound is at its minimum. The SOFAR channel acts as a waveguide for sound, and low frequency sound waves within the channel may travel thousands of miles before dissipating.[2] This phenomenon is an important factor in submarine warfare. The deep sound channel was discovered and described independently by Dr. Maurice Ewing and Leonid Brekhovskikh in the 1940s.[3]"
The usage that I know about is a method of covert communication. For example, if a plane was shot down over enemy territory, they could send out a signal to reach their allies - while avoiding their communications being intercepted. They would accomplish by dropping 2 hollow metal spheres that were designed to sink to this depth before imploding. The reason to have 2 of them is so that a vector can be drawn, by spacing the implosions. It's much easier to locate someone if you know which direction they are travelling.
This is from the International Atomic Energy Association regarding these spheres:
http://www.iaea.org/inis/collection/NCLCollectionStore/_Public/37/073/37073987.pdf
This channel eventually became common knowledge, but it wasn't until an American physicist suggested that there might also be a similar channel in the upper atmosphere that would be useful for detecting atomic explosions (this was before satellites). The purpose of the 'weather balloon' in Roswell was designed to travel to this exact height, to monitor for explosions. Keeping this a secret resulting in many people believing in aliens.
The point of this story is that military physics is incredibly important, paradigm creating and yet completely secret and not understood by the masses at the heart of it all. Similarly, I think the physics in exoskeleton energy optimization is largely undervalued, but will ultimately prove incredibly important in the long run (quite literally).
There is a reason Lockheed Martin is licensing some of Ekso Bionic's technologies
I disagree. I'm going to try to load up with as much EKSO stock as I can all the way up until the TALOS release in 2018.
Stock value is a mix of speculation and current earnings. I think the speculative end of Ekso is still very strong. FDA approval for stroke therapy would dramatically increase prospects obviously.
I plan to start a new position with my work beginning April, and will have a salary and health benefits - so I'll be able to invest a little each month hopefully. I'm happy with it for my age, 22.
"Revenues of $1.9 million for the fourth quarter of 2015, compared to $1.5 million for the same period in the prior year"
This seems like solid progress to me. Most of what I'm seeing is positive growth.
What is your source for an estimated revenue for anything higher than 2 million?
The general feel from analysts asking questions seemed more civil and less aggressive than questions asked to Nathan. I think Looby did a great job presenting himself and the company on the earnings call and don't think repercussion will be felt.
This year if anything, was larger than typical, because of the massive DARPA grant.
The only thing that doesn't look wonderful on the spread sheet to me is the gross profit being smaller than ideal. However, it's good Ekso is spending most of their money. This is what small cap stocks do. It's normally better to reinvest in growth than distribute profits as dividends at the small stage.
------
Revenues for the fourth quarter of 2015 increased $0.5 million, or 31%, to $1.9 million compared to the same period in the prior year.
Medical device revenue increased $0.2 million, or 22%, to $1.1 million for the three months ended December 31, 2015 when compared to the same period in the prior year. This increase was primarily due to an increase in recognized revenue associated with higher medical device sales in 2015.
Engineering services revenue increased by $0.3 million, or 46%, to $0.8 million for the three months ended December 31, 2015 when compared to the same period in the prior year. This increase was primarily due to an increase in net revenue generating projects.
Gross profit for the fourth quarter 2015 was ($0.2) million compared to $0.6 million for the fourth quarter of 2014.
Operating expenses were $6.5 million for the fourth quarter of 2015 compared to $5.4 million in the fourth quarter of 2014. Excluding the impact of non-cash stock based compensation of $0.5 million and $0.3 million in the fourth quarter of 2015 and 2014, respectively, operating expenses were up 18% due primarily to increased headcount and additional research and development costs associated with the industrial business.
EARNINGS REPORT http://ir.eksobionics.com/press-releases/detail/569
I think it's all terrific news except for the very bottom line, EPS. They made and invested a lot more money this Q, so ultimately the earnings might not be spectacular. This is not to say that things are headed in the wrong direction.
As a broader overview, it is typical for a growth stock to spend almost all it's earnings for GROWTH. I think this is only typical and the money is used wisely.
Not positive how it will impact share price, but I'm trying to stay mostly in until at least the TALOS suit release in 2018
Crossing my fingers for a good earnings report
I just bought 1580 shares filled at .87 cents today
I now own 12201 EKSO shares long at a .9289 cost basis
My fault for thinking it was new and that coverage had not already begun.
http://ir.eksobionics.com/analyst-coverage
coverage began in march 2015
http://www.benzinga.com/news/15/03/5354714/sterne-agee-initiates-coverage-on-ekso-bionics-holdings-at-buy-announces-1-75-pt
Real, but it was a year ago they started coverage
I assume their more recent meeting was a check in to see how things were going before redetermining the price check.
Search result collection can happen years later I suppose....
I guess I can laugh at the irony of responding to myself - given my name.
I-hub should really allow messages to be deleted.
Is this real? "Ekso Bionics (EKSO) initiated with a Buy at Sterne Agee"?????
This is really odd. I found this text on bing.com and only made it bold myself --- try it for yourself, search "Ekso Bionics (EKSO) initiated with a Buy at Sterne Agee" and see if the same result comes up for you. It shows in the text under the link, but not in the actual article. It's coming up using google for me too.
I searched "ekso bionics" on bing.com and then setting the range to the last 24 hours.
The link that was quoted for containing "ekso bionics" to is this:
"Fox Factory appears to have reached positive turning …"
which is hyper linked to this site: "http://thefly.com/landingPageNews.php?id=2290407&headline=FOXF-Fox-Factory-analyst-commentary-at-SunTrust"
Then under this hyperlink about fox factory is this timeline and description (usually it's quoted text from the website) :
"thefly.com/landingPageNews.php?id=2290407&headline=...
5 hours ago
Ekso Bionics (EKSO) initiated with a Buy at Sterne Agee... Fox Factory (FOXF) initiated with a Buy at DA Davidson... Harley-Davidson (HOG) ..."
- I can not find this same text on thefly.com to match the quoted description given by bing after clicking the link matched with this text. Nothing on the website that is linked even mentions Ekso Bionics anywhere I can find. I think this text about Ekso might have been accidentally uploaded and deleted or something?
Here is the full search result referenced above - copy pasting it out of bing.com because I can't upload a screen shot, although I did take one:
Fox Factory appears to have reached positive turning …
thefly.com/landingPageNews.php?id=2290407&headline=...
5 hours ago
Ekso Bionics (EKSO) initiated with a Buy at Sterne Agee... Fox Factory (FOXF) initiated with a Buy at DA Davidson... Harley-Davidson (HOG) ...
(http://www.bing.com/search?q=ekso+bionics&filters=ex1%3a%22ez1%22&go=Submit&qs=n&pq=ekso+bionics&sc=9-1&sp=-1&cvid=87A03F54F50A4584BAC6B36B423F6FF5&qpvt=ekso+bionics)
It is only FDA approved for spinal cord patients, not stroke patients (I'm pretty sure about this, but not positive). The spinal cord market is beginning to reach saturation, but the stroke market has not.
It's much easier for a small company to double its earnings than a large one. So far the news hasn't affected PH stock price much (up <2% currently). I learned this the other day from a Peter Lynch video. It's also worth pointing out that PH stock is at a P.E. of 16 plus and has done worse than S&P 500 TR over the last 5 years.
(http://performance.morningstar.com/stock/performance-return.action?t=PH®ion=usa&culture=en-US)
Ultimately, I think this is a good thing. I think it means that Ekso's FDA approval is even more more likely if competition with less steps taken is able to be accepted. It's also an early start on working to get insurance companies to reimburse these devices, which will benefit Ekso as much as PH. It's hard to see another company get something you want, but I will be patient and hold out for something even better.
Investorshub needs to update it's page overview for Ekso Bionics. Ekso is currently in at least 106 centers across the world according to their website currently. Here's what I-hub says (very old):
"43 units of Ekso™ model sold since February 2012, with a growing presence in 35 rehab centers in 12 countries"
The page could mention that soldier strong has agreed to buy 80 units, and has only purchased 11 to date.
The page could also mention the 4th darpa contract, the army's exoskeleton simulator being built, and more
'
He also says, "final throes" which signals the end. The connotation might normally be negative (and I think Nathan somewhat viewed it as a hassle instead of enjoying the process) - but he also surrounds those words by saying "good meeting" before and "good light" after.
Also, to me when Nathan say, "could potentially stop the clock" seems as if it is redundant information.
'could stop the clock'
this would be the more straightforward way to say this. Maybe it's a tiny hint that they think their work will be accepted. It also could be word salad and people use more words than necessary all the time with out meaning anything by it.
There is a possibility that since Nathan has worked as CEO for over a decade, he might have chose this time to resign on his own accord, calculating that he will get the most amount of money if he is able to get payed a year salary in stock, all at once, right before a potential FDA approval comes up.
2015 4th Quarter Earnings Date: 3/14/16 (1:30 PM EST)
Note that this is the day after daylight savings time begins.
http://ir.eksobionics.com/press-releases/detail/568/ekso-bionics-to-report-fourth-quarter-and-year-end-2015
FDA response will be in these next 30 days.
A little math on the numbers. I think they are more neutral than positive after further review.
"Employee Stock Option (right to buy) (2) 02/28/2024 Common Stock 400,000 $ 2.19 D
Employee Stock Option (right to buy) (3) 02/05/2025 Common Stock 200,000 $ 1.39 D"
So 400,000 times 2.19 = $876,000
and 200,000 times 1.39= $278,000
total $1,154,000 that Mr. Looby has the right to buy/convert (note that this is a lot more than the base salary of $275,000 Nathan was payed via the 8-K severance package details), so they want the option to either be able to keep Tom it would seem.
It's also important to note that 2024/2025 are the two dates the conversions are valid until.
So this means that they expect the minimum stock value to go from .92 cents up - to the price average of ~$1.92 by 2024/25ish --- this is 208% over 8 or 9 years. Working backwards using the Rule of 72, this equates to a rough doubling in about 8 or 9 years --- which means a gain of around %8 or 9% per year or about what the stock market does on average.
I think they are using stock market averages as a starting point for projecting what their stock will be worth. No indication that they will succeed or fail can be made based on these values alone.
As a side note, I think it's neat that a word coined by Peter Lynch, Tenbagger, is being used on this board. I think it's a good sign that the people on here both follow the leader of the most successful mutual fund in history in addition to this company in particular.
New SEC Filings:
424b3 and an 3/A
I think the 3/A has some really interesting conversion values for common stock - take a look
http://ir.eksobionics.com/all-sec-filings#document-11228-0001455244-16-000037
"Employee Stock Option (right to buy) (2) 02/28/2024 Common Stock 400,000 $ 2.19 D
Employee Stock Option (right to buy) (3) 02/05/2025 Common Stock 200,000 $ 1.39 D"
That means Looby has the right to buy/convert into common stock, but the conversion price is 1.39 and 2.19!!!
This looks very positive to me at fist glance