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https://www.marketwatch.com/investing/Stock/crgs/SecFilings?subview=secarticle&sid=118025&guid=14031643&type=8
Link above. Do I understand the following: We now have the car salesman as Chairman? We have this 41 year old kid as CEO who has a BS in Business Administration? I don't mean to be catty but many decades ago a degree in Business Admin wasn't considered the height of academic rigor.
This is the gentleman of the 200k user fame.
As far as the options grant: I think I understand this to be the option to buy by him at a specified price. If the price stays below the strike price he does not exercise the option and thus has no money at risk. If the price goes up he is rewarded with a guaranteed profit and the rest of us suffer dilution.
I'm not encouraged.
"I’m interested in actual sales in the future---." In the future seems to be a recurring theme with CRGS---as in for the company's entire existence.
Looks like CRGS may become a safe haven investment. And with a tax holiday we don't even have to get crushed right away by capital gains taxes.
Looks like we own a counter-cyclical stock. Hammered the averages today. Z
I don't know what happened to the post. If you go to the previous post and hit next or the subsequent post and hit previous the report comes up. Z
CURAEGIS TECHNOLOGIES, INC.
CEO REPORT
MARCH 6, 2020
Dear Shareholders,
I am happy to report that our MyCadian app is working and is now available for download in the Apple App Store. We are now in a soft launch stage.
Our basic product offering which includes a CURA (Circadian User Risk Assessment) score, our Predictive Fatigue and Alertness analysis, Z-Coach, Notifications, and some other standard health and fitness metrics is now available. Some of our premium offerings, such as the myCadian data explorer will be available very soon. We should have more premium offerings in the product mix in the coming months.
We are now able to start our marketing and sales initiatives in earnest. Our initial push will be into the B2B verticals such as Trucking and Busing, Medical, Aviation, Municipal, and Corporate Wellness programs. We will also start to target large affiliate organizations whose members will be able to get substantial discounts on our wellness and safety technologies. Also, because we are now in the Apple App Store, we hope to eventually start entry into the general Consumer market. As with most startups, because we do not know the acceptance or the sales cycle for our technology, we cannot predict revenues at this time.
As you know this is a major (and illusive) milestone for CurAegis. Much of the credit goes to our new Vice President of Product, Brandon Hudson. Brandon is a software engineer with many and varied skills and talents. We hope to build our future technical team around him.
We continue to work on a sale, or other corporate relationship, to commercialize our Aegis Pump and Motor technologies. As we have stated previously, we are working with the investment banking advisory firm of Paramax Corporation. We are presently in communication with a number of companies to this end. We will report any results from these talks at the appropriate times.
We are currently raising operational funds on a month to month basis and hope to have sales revenue in the coming periods.
In order to realign our board to better reflect our concentration on our Fatigue Management and Software as a Service Technology, we are announcing the retirement of two of our Board members from active Board members to an honorary emeritus status. They are:
John Heinricy Thomas Labus
We are very grateful for their valuable service and look forward to their continued advice and counsel.
We are also announcing the addition of two new Board members and a new Special Advisor to the Board who will bring new talents, skills and experience to our more concentrated business plans, technologies and marketing. They are:
Aaron Newman Board Member: Aaron Newman is an entrepreneur having founded five successful startups: BlocWatch, CloudCheckr, Techrigy, DbSecure, and Application Security, Inc. Mr. Newman is currently a director of CloudCheckr. Mr. Newman authored the books Enterprise 2.0, published by McGraw-Hill, and the Oracle Security Handbook, published by Oracle Press. He is an acclaimed international speaker on technology topics and has been awarded multiple patents in database security and social media.
Prior to founding DbSecure, Mr. Newman held technology positions at Price Waterhouse, Bankers Trust, and as an independent IT consultant. Mr. Newman proudly served in the U.S. Army during the First Gulf War. Aaron currently serves as a Trustee of the Strong National Museum of Play, Nazareth College, MCC Foundation, Greater Rochester Chamber of Commerce, and the Rochester Police Foundation.
Dr. Walter Johnson Board Member: Walter A. L. Johnson is the Executive Director of the Rochester Data Science Consortium and the New York State Center of Excellence for Data Science. Dr. Johnson was Vice President of the Palo Alto Research Center (Xerox PARC), managing their Intelligent Systems Laboratory in Palo Alto until 2014 at which time he moved to Rochester to integrate Xerox’s Webster Research Center into PARC. Previously, Dr. Johnson served as Senior Vice President of Operations at SkyGrid, Inc., a real-time financial news analytics startup, as well as the Vice President of Strategy and Business Development at Uppercase, Inc., a tablet PC startup acquired by Microsoft in a $45M transaction. He is a former scientist in PARC’s groundbreaking Human-Computer Interaction group, where he specialized in intelligent interfaces for mobile and ubiquitous computing applications.
Dr. Johnson’s work on an embedded document application environment for multi-function devices led to the creation of a special enterprise-level division of Xerox, for which he received the Xerox President’s Award and the PARC Excellence in Science and Technology award. He also served as the Vice President of Strategic Operations at 12 Entrepreneuring, a business incubator in San Francisco. He holds 15 United States patents. Dr. Johnson obtained his Ph.D. in Cognitive Psychology from the University of Pittsburgh, and B.A. and M.A. in Cognitive Psychology at the University of Arizona.
Max Borges Special Advisor to the Board: Max Borges is CEO of the Max Borges Agency. They are a communications, creative services and digital strategies firm that services the Consumer and Corporate technology industry. Their expertise is in:
Content Creation
Consumer Products
Corporate Image
Digital Communications
Event Marketing
Media Training
New Product Introductions
Social Marketing
Social Media
Sports Marketing
Consumer Technology
Brand Strategy & Brand Building
Strategic Advice & Counsel
Thought Leadership
We are very excited to have these professionals with our Company and look forward to their leadership for our future.
As always, thank you for your patience and confidence,
Richard A. Kaplan
CEO
CurAegis Technologies Inc.
Compelling---Disruptive---Transformative Technology. The longer they don't, the sooner they will. Untold monetary and manpower resources spent incorporating all that tech into a single vehicle, the FTV. No bench or life testing required. Customer to "buy the story". And give us millions based on a set of drawings. Those were heady times.
And now the current management has done what seemed impossible----they have topped the FTV fiasco with a couple million dollars worth of watch parts. Go for it!!!! Faint heart never fair maiden won.
I'm feeling a little feverish. Need to go lie down. Later----Z
It seems like it's been a long time since an update. When did the company turn the marketing of the pump over to a third party whose name I can't remember? I think the potential # of buyers is relatively small. How are things going?
Weren't we told that sales of the fatigue device would start in Jan.? How's that going?
I do not think that no news is good news in the case of CRGS. Z
I have no special knowledge. I thought we were told by management to expect an update in Jan and today is the end of Jan. Z
Leitrim, Torvec7:
Up 9% today in anticipation of tomorrow's promised update. Or possibly today's spike is the start of a vicious short squeeze? Or both!!
Going to be difficult to sleep tonight so I've laid in a stack of travel brochures. Anything close to Asia or SE Asia is out----leaning strongly to stay local---a month or so in the West Indies?
Thank You Ten4. I'm afraid I didn't read your original post carefully enough. "Second generalized update to the app came out yesterday." I skimmed over the "to the app" part and did not pick up that the update to which you referred was for users and not (I guess) the update that was promised to the shareholders. Thanks Again Z
Where? Can you post the update or a link? Thanks
Maybe the problem is that we have adults trying to understand a system that originated with a high school kid. We may need to get the kid to explain it, and possibly a classmate of the originator to market it.
Thank You Mayday for your input. How many millions have been flushed on this toy? Then there's all the time that could have been spent on optimizing the only product that had a chance, the pump.
The more info we get the worse it gets. It's hard for me to conjure up anything that management could say about the fatigue monitor fiasco----a total disaster. I speculate that TG put in a few more dollars to allow a little more time to sell the pump and get his loans back. Common shareholders are very likely toast.
If we do get an update by the end of the month the only value it will likely have is for black humor. Z
Thank You Leitrim and others for the responses. I understand the pump---an actual mechanical thing that one could touch. An "app", not so much. As to "an update on the launch of the Mycadian App/Cura": So, we've had the launch? This site where you can go get the App was the launch? And Mayday is a customer and is testing it for the board?
I guess I was thinking more along the lines (e.g.) of a hypothetical trucking association that was to have a few thousand truckers using it for a few months while their insurance company monitored the incidences/thousand miles of accidents, or something like that. That, in my mind, would be a launch. If having a web site where individual humans can try it out because they're bored or curious is "the launch", that's pretty pathetic IMO.
We've got about 10 days til the end of the month so I guess we'll get some kind of communication. I'm not feeling very wealthy at the moment. I only see two glimmers of hope: one, a couple of people are still dribbling money in to the corp to keep it afloat and two, the pump may still be in play.Thanks again to those who tried to clear the fog for me. Z
So----There may still be some hope for the pump. Other than that the future of our "investment" hinges on an idea a high school kid had for a science project?
I apologize for asking but: What, exactly, were we promised in January? Have we already received it? or are we still waiting? Thank You----Z
Somebody please shoot me----I'm thinking of buying more. Z
As I, who don't even own a cell phone, understand it: The app is free. The app to what? I guess to a cell phone manufactured by someone else? Don't we need to have physical contact with the customers skin? How does that occur?
I don't necessarily see a price of three dollars a month as a bad thing. We need the app to gain traction that results in millions of users. Think about the era of CB radios. For a time it seemed like everybody had one and they were a lot more expensive than this device.
I agree with other posters: I wish the company would divulge the business plan. The potential customer must know. Why can't it be posted? How, specifically, does this device work and where is the cash flow? We no longer have our own watch, correct? They are being written off? Or do we have a replacement? We don't need a million users the first day but we do need some critical mass so the word gets out. Reviews in Tech Gadget magazines? Promotion?
I'm so confused now that I don't even remember what was supposed to happen in Jan.---or did it just happen? Can anyone help sort this out---especially management? Z
Mr. Dino: Is there any way that you or anyone can track how many buyers? Anybody know how that works? Thanks---Z
I'm kind of old---don't even have a cell phone---so a lot of the electronic stuff is beyond me. An "app" will be available tomorrow. What does that mean? The app will be for sale---or free for a certain time so the customer can try it out----or we won't know until noon tomorrow?
I also have a question asked by another poster; why no promotion? Is this like a beta test or is that done and we are actually trying to sell something? Apparently any prospective investors are waiting to see if the product, if that's what it is, gains any traction. Z
Leitrim: I think your numbers are probably better than mine. I do remember that there were a small number of players, i.e. a concentrated sector.
Maybe those players are comfortable with a shared monopoly---who knows? Again, from memory, If our pump is smaller, more powerful, with less parts, and cheaper to manufacture----then what's the problem? You'd think the only discussion would be price.
Very soon the Bills take the field in NE. I hope we finally get over the hump. Time to get in the shower and down to the corner. Z
I don't know but there aren't many companies that operate in that space. I looked it up long ago and I think the market was about $10 billion/annum. I figured us for at least 10% due to our earth shaking tech. I figured our pump to be worth some, conservatively,multiple of $100 million.
I'm going from memory and back of the envelop projections but if the pump is as advertised I think the worth is pretty large. Z
I'm trying to get my head around this new development. The app is to cost $2.99 and works through a smart watch? So the customer has to buy a watch? At what cost for the watch?
Launch is sometime in January. Is this the 200k users we anticipated some time ago? That would be $600k without any hardware---just for the app?
I really haven't studied this---I'd been keeping an eye on the pump. Do I have this right? If so and there is any chance of success $.10/share seems like a reasonable gamble.
The pump: It looks like in the not too distant future everything may go electric. If that were to come true is the pump worthless? I wouldn't expect it to happen for a while but we seem to be headed in that direction. Z
Thanks for the link. Z
It may be that Donnelly is being rewarded. If fit bit is worth north of 2 billion, how much more is the CURA worth? When Donnelly's vision and optimism are proved to have been prescient being the COO will be a fitting platform from which to crow. Probably sometime next year. Z
This is truly pathetic. An excerpt: "We are now in various levels of conversations with potential prospects." How similar does that sound to: "We are in serious discussions with several very interested parties." JG
The only timeline given is that they expect progress with in the next six months. I'm not sure who gets to define "progress".
CURA: A year ago we were supposed to have 200,000 users by now. The latest: We hope to do something soon. Beta Testing? Limited release? Who knows? Apparently not management.
This has been one weird experience. I knew I wasn't dealing with geniuses from the start---Who squanders 100s of thousands of dollars on an FTV containing zero proven tech? The ice thing, the advice to encourage your insurance agent to buy stock? Unbelievable. I did, however, think there might be two winners in there---the pump and some drive train component that was located in the rear of a drive train---some kind of "joint" maybe?
I have lost money and been very frustrated. What of the people who have put twenty years of their lives into this with zero results? Z
In practice does it even matter? He still owns a ton of stock and likely has a lot of influence over the legacy members of the Board. Z
"Fully furnished"---So we're selling anything that's not nailed down and going to leased.
Does this mean that all testing on the pump is finished? I thought we were pretty proud of our test bed and being able to test in house. Looks like any or all future development work on any of the mechanical stuff will be done by the buyer.
Wonder who we're leasing the space from? Just curious.
Soon to be a nickel. Skip that Friday night dinner with your squeeze ($100) and buy 2000 shares. Sacrifice now for future wealth!!!! I think we are in serious discussions with several very interested parties.
ANY MINUTE NOW!!!!!!
I just went to the company website and note that the announcement re Paramax was on 4/4/19. I didn't realize it had been that long. Has there been anything else in the interim that doesn't show up on the official website. It seems like there should be something to report soon on the fatigue front. Z
Tula175: Could you be more specific as to the second sentence of your post---"Of course some have selective memories." Thanks--Z
I question this part of 51er's email: "but chose to market to a very small niche of high performance vehicles".
I believe the objective was to stress test the product. If I remember correctly they did a couple of iterations but ultimately could not pass the stress test so shelved the product in favor of the pump. Z
My take: The paragraph re the Ageis Division tells us exactly nothing. At least he didn't say "we have several very interested parties---".
Cura Division: Says----We're working on it but cannot predict when it will be ready. This time he did borrow Jim's mantra and say: "we have several very interested parties----".
Fund Raising: Says---we have most of the bridge loans that we think will get us to the pump sale. And reading between the lines---That (sale) money (nickels and dimes) will be used to repay the bridge loans and to fund the Cura project.
Bottom line: Share holders get nothing, ever, unless the Cura thing pops. Quite a stretch given that we were, for 20 years, a mechanical development company---until we decided to attempt to break in to the wearable space.
He's likely telling us the truth and the truth is not very promising.
The cry for 20 years has been:"Just sell something to someone, please!" Still no meaningful revenue and as nearly as I can tell none on the horizon. We hang on because to cash out would gain us very little so we wait and hope.
There must be some people on this board that hold well north of 100k shares. What if even one guy tried to ease his way out and get $10k for a vacation? How much selling pressure could this stock stand? Z
From the April 4 news release which advised us that the licensing effort was dead and we were going to try and sell the Aegis Division: "I hope to release another CEO report regarding our CURA software and products soon."
Has there been anything since April 4? I tend to lose track what with the various SEC releases, etc. Two months plus and counting is starting to push the definition of "soon". Weren't we supposed to have units in beta test etc? Anybody got a grip on where we are at the moment in terms of when we might expect news, good or bad? Z
I like this reply. Believe it or not I have sat on public boards where this type of thinking garners approving nods---very frustrating. Z
Several posters, probably including myself, have expressed concern as to this stock ever reaching one dollar again. I believe I have a solution: Management should declare a ten to one reverse stock split. Presto, a dollar a share with a little head room to spare. This would also alleviate many concerns re dilution---way less outstanding shares.
I offer this insight to management at no charge. I could make myself available, for a fee, in the future if more help is needed. Z
Often any news released before a Holiday weekend is not good news. I'm happy that the market is closed and we have heard nothing. Hope that continues until Tues.
I've heard rumors that the sun may appear one day. Z
If I read the right 10q report it covered the time period through March 31,2019. It stated that the expectation was to sell some CURA stuff by the "summer" of 2019 which ends on Sept. 23. So we then have the annual meeting in Oct. to celebrate our collective wealth? Am I correct? Thanks---Z