CurAegis Technologies Inc (fka CRGS)

[Oakie1]

While the CURA myCadian for FITBIT



appears very alive and well -- expect hundreds of thousands of B2B users in 2019 according to SVP Donnelly -- the myCadian watch itself is dead.

The company wrote off $ 1.7 million in myCadian watch inventory in Q3. Yet, the finished inventory is only 69 thousand dollars ($ 69,000)!!! Did they really order so much excess parts inventory with only $69K in finished watches? If so, why can't it be unloaded...at least at a discount?

The Q3 filing did say:

Management is developing a CURA medical product that could use this inventory, but that product offering has not been finalized or offered to this potential market.

Hmmm....

But wouldn't they keep the development team to make such a medical product? Of course, development could be outsourced too. Personally, I don't see a medical product in the future, but that's my opinion.

So why was it written off completely? I assume our CPA firm will be counting a lot of inventory during its audit after yearend.

Does anyone know the name of the vendor? I know it's a Canadian firm with Plattsburgh operations. Who owns the vendor? How are they going to be paid for the absurd level of excess inventory? And in what form will they be paid?

So CURA myCadian for FITBIT the platform seems to be likely phenomenal, but CURA myCadian the watch is a bust. But we've known the latter for some time now.

The big kahuna for shareholders is not the CURA myCadian app itself, but the expected exponential growth and retention of recurring CURA subscription revenue ad infinitum. CURA is positioned for the right markets -- monitoring, insurance, health. It's designed as a platform to throw off continuous free cash flow, the recurring CURA subscriptions. Nothing better than that. And Donnelly -- and nobody could be better informed -- told us to expect it to be big! Within the next calendar year.

Life is your film. -- NEIL YOUNG