Tony Keating, CEO and Managing Director said: “While we remain confident that our algorithms can detect COVID-19 using cough sounds, they will require further refinement, testing and validation to ensure that they perform to the level needed. This work will continue with the benefit of now having over 1,300 additional cough sound recordings with gold standard PCR test results to use to train and improve the algorithms. Notwithstanding, the results underscore the considerable work, challenge and cost of bringing our technology to market.
We need the team building the algorithm at ResApp to step up now and deliver the new/refined algorithm based on the additional 1,300 test subject samples before votes are cast in order for us to revisit the upper band of the price point set by Pfizer or the independent expert!! This will only give us more bargaining power but also more likely hood to receive counter offers from other large international corporations, this is critical and I am sure the team will now be working around the clock to get this back in order. Whatever the problem was it needs to be corrected ( most likely different variants/strains have confused the algorithm) and training and refining the algorithm with the new input cough signals. Let's put this into some sort of perspective for when we can receive the results of the "refined" algorithm.
1.On the 22/03/21 ResApp completes recruitment in Indian COVID study
2. On the 10/01/22 ResApp completes recruitment of the COVID study in the United States
3. On the 22/03/2022 ResApp completed compiling all of the data from the Indian and US studies and performed an excellent read out of the results.
My take we are now back at step 2 ( except say 60 to 70% more ahead of the game) completion of the US in Indian trial compiling all of the data, training the algorithm with the additional 1,300 test subjects. Time is against us here before votes are cast... We need additional time for the new data input read out... the advantage we have is the algorithm is already built it just now needs refining, it took over 2 months last time to build and refine the algorithm from step 2 to step 3 as stated above... it shouldn't take this long to now just refine the algorithm and train the algorithm with the new data set IMO, maybe say 2 to 3 weeks IMO. Ideally we need the results before mailing OUT of the scheme takes place before the scheme booklet lodgement in early to mid July, especially before the scheme meeting is scheduled in August where votes will be cast to accept or deny the offer put forth by Pfizer.
The outcome of the results will have a major impact on the way shareholders vote IMO. It is in the best interests of the CEO Tony Keating to enforce these results before these decisions are made not just for the interests of shareholders but also the his hip-pocket as he still holds substantial skin in the game albeit free 10 million options as well as some minor shareholding that he purchased on market.. It is still a massive payday for him regardless and he would obviously want the highest possible denominator for his family and family's future..
Pfizer are highly unlikely to pull out of the deal it would have been announced otherwise in today's announcement!!! Am I disappointed YES! Do I see this is just another pothole in the ROAD to success to fill in?! YES! Regardless they know they can tweak this and make it work. FUD maybe upon us but I see through this fear uncertainty and doubt.. there is a much larger picture at play here DX the upper and lower respiratory diagnosis this company has had extensive years demonstrating the effectiveness and efficiency of such a tool.. I believe in this technology I believe in the future of this company's success.. the question now remains will we let this fear swallow us up and run for the hills?! I know I won't because I see the bigger picture...
Come on Tony and team at ResApp camp!!! Deliver for GOD sake. Our future as investors in this COMPANY, your future and the world is counting on YOU!!!
