Ann: US CPT Code Reimbursement for TALi Detect, page-138

Like any stock that has been on a big run tomorrow could be anything. Sometimes these high volume runs go on for days and sometimes there is just too much hot money caught up looking for the door which takes weeks to wash out. Looking at valuation though I tend to think this remains very cheap for their stage of progress, wish I knew of the stock before today….

CASH POSITON ~$1.6m (estimated)

SOI: 649m

MARKET CAP:  $17.5, @2.7c

PEER COMPARIONS: RAP, PCK, KNM?

APPROVALS: FDA, TGA, CE, NDI

MARKETS PENETRATED: USA, UK, Australia

Historically it appears the company have been R&D heavy yet revenue light. The recent deals suggest this is about to change. Multiple geographic market entries have been made with their products. Edtech partner agreement gives them access to 90% of schools in the UK. Several USA deals give them a solid foot in the door there and the deal with the Vic education department gives them solid exposure on home ground.

“In April 2019, first sales of TALi TRAIN commenced to schools in the USA further expanding the market validation activities by the Company”

“Supply agreement signed with Edtech Impact, one of the UK’s leading school led marketplaces reaching +90% of schools across the UK”

“In June 2019 the Company agreed with the Victorian Education Department to release TALi DETECT to all Victorian public-school children in prep, year 1 and year 2”

Tali Detect is a user friendly screening tool (provides leads) with Tali Train the more commercial offering. Looking at their current pricing the Tali Train 5 week program costs $199 per child, downloadable from Apple and Google. Decent revenue per user and a solid user acquisition approach. From their first 6,000 kids using the app, 93% have seen a reduction in their ADHD symptoms so it seems that the results are there to justify the investment.

Who knows what tomorrow will bring but a company with sufficient cash to take them thru to meaningful revenue, with market access in key geographies and a highly scalable product with a large target market. Seems like it could justify higher than $17.5m