Cloudtag Inc (LON:CTAG) Chief Executive Officer Amit Ben-Haim caught up with DirectorsTalk for an exclusive interview to discuss receiving the first batch of production units, what this means for the company and the next steps for Cloudtag
Q1: How are you today Amit?
A1: I’m fine, I’m very happy to see the reaction of the market share price moving up on our news.
Q2: Indeed. It was exciting news to see that you’ve received your first lot of production units, what does this mean for the company?
A2: Yes, we are delighted to receive this first batch of production units to Cloudtag’s proprietary wearable device. These units are undergoing numerous tests to include the testing of the system integration of the company’s mobile applications, cloud and the device. The new app is being developed with our software shareholders, Precious Blue Dot, and these production units allow us to further test the user experience between the device and the app. Further, our product design partners, world-leading global product design agency, have designed the user experience of the wearable device are conducting further usability tests using these production units which have, to date, been extremely positive in their reception.
Q3: Now Amit, you’ve spoken in the past about how accurate the Cloudtag device will be, what are tests?
A3: 2 main elements, I would say. The development team at Cloudtag continue to optimise the cutting edge production algorithm of the ECG energy expenditure with Imec, our technology shareholder, and further following the independent tests carried out by Essex University, we will continue to further improve on these in the coming weeks and again, as we have published before and advised the market, these results are showing a 98-99% correlation with a clinical ECG and 91-99% correlation to energy expenditure against the medical gold standard. Above all, it is the consumer that we are interested in and from the consumer’s point of view, being more accurate means actually achieving the goals much faster and in more predictive manner, and I think this is what we’re trying to do.
Q4: Excellent news. What are the next steps for Cloudtag Inc?
A4: I think I can summarise it perhaps in 2 points for you. Not only do the devices allow us to further test the system integration and get more value user feedback which is critical when entering a crowded market space but also allows us to manage more closely the unit cost of the manufacturer device and again, let’s not forget it, we are in a B to C market and the price is a primary concern of a user. Further, I think these devices that we have now in hand give us the platform to facilitate the ongoing commercial discussions which are imperative for the success of the company going forward.
