5/30/2017 Dear Shareholders,
CURA™ System
We are on schedule to have our system ready for shipments in the third quarter. As we move closer to our launch, we realize more and more of the incredible potential we have to actually save lives and make people healthier.
We have received much attention and positive feedback from the Fatigue Management industry and many organizations in our initial verticals:
Trucking
Busing
Aviation
Medical
General Corporate
Municipal Government
Federal Government
Sports Science
We are continuing beta testing in six (6) of these verticals. All should be completed by the end of June. We expect to convert some of these into sales and also generate interest to other organizations in their industries. One of our betas is with JetBlue. During a presentation at a recent fatigue conference, Lydia Hambour, JetBlue’s Manager of Fatigue Risk Management Systems stated, “We are excited to learn how new technology can be used to help manage fatigue. By participating in this Beta trial, we hope to gain new insights on Crewmember alertness that will enable us to maintain the highest levels of safety.”
We now have signed contracts from organizations in trucking, mining, busing, municipalities and others. Hopefully these initial sales will prepare them for full rollouts within their organizations. Some of these sales are being planned and monitored by their insurance captives. This should lead to many more sales in the future. Once we have our initial system ready, we believe we can expect more contracts from the many other organizations to whom we are presently talking.
We attended and were a large part of the Managing Fatigue conference in San Diego in March 2017. Four of our Scientific Advisory Board members were keynote and featured speakers. Also, Matt Kenyon, Director of Technology – CURA Division and Leigh White, Executive VP of Corporate Development - CURA Division, held seminars. All of these were well attended and well received. This was a wonderful event to help us come to the forefront of the industry. Very exciting!!
We held our Scientific Advisory Board meeting in April 2017. All of our members were present including our newest member, Dr. Torbjörn Åkerstedt, from Sweden. Dr. Åkerstedt is one of, if not the most, respected scientist in fatigue management in the world. He was very impressed and excited after seeing our technology in detail. The meeting was very fruitful. Some new and exciting uses for our technologies were brought up for future development and some good recommendations for existing features were given. Our engineers are very optimistic on creating some new, breakthrough technologies in the sleep and fatigue management areas in the future.
Aegis Pump and Motor
Our new motor is in development and our prototype is scheduled to be available in August. If everything goes well, this new technology should create a significantly smaller, much less expensive and more efficient axial piston motor and pump than is presently available in the industry. We are in talks with some very large industry organizations and will be presenting this to them when completed.
Corporate News
We are starting a new $3 million raise. Our plans are for this to be the last raise we will need; however, this is not a guarantee and depends on our projections coming to fruition.
This is a very exciting time for us and everyone here is raring to go. Wish us good luck. We hope to make you proud by making CurAegis a world-class company.
Thank you for your patience and confidence in this great group of people at CurAegis.
Sincerely,
Richard A. Kaplan
Chief Executive Officer
