Currently on my phone traveling so can touch a few points for you breifly.
1. We are currently waiting on the FDA to give us a decision on which class of device we will fall under. I have asked Philip (CEO) about which category he would like to fall under, he said he has no preference (publicly anyway), but advised no matter what, each category will have to have the right level of investment around it.
2. I never understood Rap. Why if I’m sick do I want to cough into an app on my phone for my phone to be covered in germs. Different story all together though.
3. Philip doesn’t seem too phased about FDA approval timeline, it’s out of their control and they will act according when it happens.
4. We should hear news on European Rollout plan this quarter.
5. I’m not aware of any firm commitment for contracts at this stage, but it could be any day before we hear something about this. Android app being in Beta has helped solidify this. We are in talks with multiple RAC currently.
6. Quote from Philip from an email @GCInvestor sent to him, asking him about the potential integration with clinical system providers. The potential for this is huge.
Part of our overall strategy is to incorporate PainChek™ into all providers of backend clinical systems to provide the same benefits to all customers. There are 3-4 major clinical system providers in Australia who supply 80% + of the Australian aged care market and we are in advanced talks with one and opened talks with two others. This was also mentioned in the earlier section of the recent quarterly update.
7. Cash reserves of nearly $5 million after the end of this current quarter, about 18 months left with no need for a CR, but we will see significant revenue before then.
